Summary
BOR is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €577,310 and a net result of €9,933. Equity has been growing by about 3% per year since 2019. Its solvency ranks better than 95% of 9,754 sector peers (NACE 64, financial year 2025). The company has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-03-2002 Normal situation
- Activity
- Activities of holding companies NACE 64210and 1 other
- Establishment unit
- 2.100.526.090 3650 Dilsen-Stokkem, since 08-03-2002
- Financial year end
- 30 September
- Peppol
- Reachable since 31-12-2025
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 30-09-2025
- Profit
- €9,933
- Equity
- €577,310
- ▲ 1.8%
- Total assets
- €595,332
- ▲ 4.4%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 07-04-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 days early
2024
20 days early
2023
6 days early
2022
4 days early
2021
5 days early
2020
14 days early
2019
3 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 11 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 25 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end03-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 07-04-2026 PDF all 23 filings
Equity
€577,310▲ 1.8%
2024 · €567,377
Net result
€9,933
2024 · -€588
Total assets
€595,332▲ 4.4%
2024 · €570,377
Solvency
97.0%▼ 2.5pp
2024 · 99.5%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€17,015
▼ 667%
2025
20192025
Net result
€9,933
2025
middle half of the sector
20192025
Equity
€577,310
▲ 1.8%
2025
highest quarter of the sector
20192025
Total assets
€595,332
▲ 4.4%
2025
middle half of the sector
20192025
Debt
€18,022
▲ 501%
2025
20192025
Working capital
€578,797
2025
highest quarter of the sector
20192025
Solvency
97.0%
▼ 2.5pp
2025
highest quarter of the sector
20192025
Current ratio
36.00
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.7%
▲ 1.8pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€199,609-€166,873▼ 16.4%€53,398▼ 68.0%-€6,111€80,519-€2,217-€17,015▼ 667%
Net result€124,095-€103,921above the sector's middle half▼ 16.3%€35,609within the sector's middle half▼ 65.7%-€6,223below the sector's middle half€36,199within the sector's middle half-€588below the sector's middle half€9,933within the sector's middle half
Equity€398,459-€502,380above the sector's middle half▲ 26.1%€537,989above the sector's middle half▲ 7.1%€531,766above the sector's middle half▼ 1.2%€567,965above the sector's middle half▲ 6.8%€567,377above the sector's middle half▼ 0.1%€577,310above the sector's middle half▲ 1.8%
Total assets€491,113-€592,734within the sector's middle half▲ 20.7%€556,898within the sector's middle half▼ 6.0%€531,766within the sector's middle half▼ 4.5%€599,934within the sector's middle half▲ 12.8%€570,377within the sector's middle half▼ 4.9%€595,332within the sector's middle half▲ 4.4%
Debt€92,654-€90,354▼ 2.5%€18,909▼ 79.1%€31,968€3,000▼ 90.6%€18,022▲ 501%
Working capital€398,459-€502,380above the sector's middle half▲ 26.1%€539,189above the sector's middle half▲ 7.3%€569,465above the sector's middle half€578,797above the sector's middle half
Solvency81.1%-84.8%above the sector's middle half▲ 3.6pp96.6%above the sector's middle half▲ 11.8pp100.0%above the sector's middle half▲ 3.4pp94.7%above the sector's middle half▼ 5.3pp99.5%above the sector's middle half▲ 4.8pp97.0%above the sector's middle half▼ 2.5pp
Current ratio5.30-6.56above the sector's middle half▲ 1.2631.45above the sector's middle half▲ 24.8919.69above the sector's middle half36.00above the sector's middle half
Return on assets (ROA)25.3%-17.5%within the sector's middle half▼ 7.7pp6.4%within the sector's middle half▼ 11.1pp-1.2%below the sector's middle half▼ 7.6pp6.0%within the sector's middle half▲ 7.2pp-0.1%below the sector's middle half▼ 6.1pp1.7%within the sector's middle half▲ 1.8pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €17,015, larger than the loss of €2,217 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €595,332
Equity
€577,310 ▲ 1.8%
Debt
€18,022 ▲ 501%
Debt's share of the balance-sheet total rises from 0.5% to 3.0%. Equity and debt are higher.
Key figures and ratios
ROE
1.7%▲
2024 · -0.1%
Debt ≤ 1 year
€16,535
Income taxes
€3,284
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €97 | €4,397 | €62 | €62 | €62 | = |
| Gross operating margin9900 | €212,135 | €166,873 | €53,495 | -€1,714 | €80,581 | -€2,155 | -€16,953 | ▼ 687% |
| Operating profit (loss)9901 | €199,609 | €166,873 | €53,398 | -€6,111 | €80,519 | -€2,217 | -€17,015 | ▼ 667% |
| Financial income75/76B | - | - | - | €27 | €28,325 | €1,698 | €30,635 | ▲ 18× |
| Recurring financial income75 | - | - | - | €27 | €28,325 | €1,698 | €30,635 | ▲ 18× |
| Financial charges65/66B | - | - | €80 | €139 | €57,023 | €69 | €404 | ▲ 485% |
| Recurring financial charges65 | €110 | €245 | €80 | €139 | €57,023 | €69 | €404 | ▲ 485% |
| Profit (loss) for the period before taxes9903 | €199,499 | €166,628 | €53,319 | -€6,223 | €51,821 | -€588 | €13,216 | - |
| Income taxes67/77 | €75,405 | €62,707 | €17,709 | - | €15,622 | - | €3,284 | - |
| Profit (loss) for the period9904 | €124,095 | €103,921 | €35,609 | -€6,223 | €36,199 | -€588 | €9,933 | - |
| Profit (loss) for the period to be appropriated9905 | €124,095 | €103,921 | €35,609 | -€6,223 | €36,199 | -€588 | €9,933 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €491,113 | €592,734 | €556,898 | €531,766 | €599,934 | €570,377 | €595,332 | ▲ 4.4% |
| Current assets29/58 | €491,113 | €592,734 | €556,898 | €531,766 | €599,934 | €570,377 | €595,332 | ▲ 4.4% |
| Amounts receivable after more than one year29 | - | - | €168 | - | - | - | - | - |
| Trade receivables290 | - | - | €168 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €169,559 | €460,355 | €482,705 | €3,114 | €102,880 | €3,565 | €3,337 | ▼ 6.4% |
| Trade receivables40 | - | - | €178,505 | €3,055 | €102,880 | €3,055 | €3,055 | = |
| Other amounts receivable41 | - | - | €304,200 | €58 | - | €509 | €281 | ▼ 44.8% |
| Current investments50/53 | - | - | - | - | €380,156 | €380,156 | €500,593 | ▲ 31.7% |
| Cash at bank and in hand54/58 | €321,554 | €132,379 | €74,025 | €528,652 | €116,898 | €186,656 | €91,402 | ▼ 51.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €491,113 | €592,734 | €556,898 | €531,766 | €599,934 | €570,377 | €595,332 | ▲ 4.4% |
| Equity10/15 | €398,459 | €502,380 | €537,989 | €531,766 | €567,965 | €567,377 | €577,310 | ▲ 1.8% |
| Contributions10/11 | €50,000 | - | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €348,459 | €452,380 | €487,989 | €481,766 | €517,965 | €517,377 | €527,310 | ▲ 1.9% |
| Non-distributable reserves130/1 | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | - | €482,989 | €476,766 | €512,965 | €512,377 | €522,310 | ▲ 1.9% |
| Amounts payable17/49 | €92,654 | €90,354 | €18,909 | - | €31,968 | €3,000 | €18,022 | ▲ 501% |
| Amounts payable within one year42/48 | €92,654 | €90,354 | €17,709 | - | €30,468 | - | €16,535 | - |
| Trade debts44 | €1,650 | €348 | - | - | - | - | €15,000 | - |
| Suppliers440/4 | - | - | - | - | - | - | €15,000 | - |
| Taxes, remuneration and social security45 | - | - | €17,709 | - | €30,468 | - | €1,535 | - |
| Taxes450/3 | - | - | €17,709 | - | €30,468 | - | €1,535 | - |
| Accrued charges and deferred income492/3 | - | - | €1,200 | - | €1,500 | €3,000 | €1,487 | ▼ 50.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €124,095 | €103,921 | €35,609 | -€6,223 | €36,199 | -€588 | €9,933 | - |
| Operating cash flow (approximation) | €124,095 | €103,921 | €35,609 | -€6,223 | €36,199 | -€588 | €9,933 | - |
| Change in cash | - | -€189,175 | -€58,354 | €454,627 | -€411,755 | €69,759 | -€95,254 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 07-04-2026 | 2026-00073360 | |
| 30-09-2024 | micro format | 10-04-2025 | 2025-00066883 | |
| 30-09-2023 | micro format | 24-04-2024 | 2024-00067638 | |
| 30-09-2022 | micro format | 26-04-2023 | 2023-00065887 | |
| 30-09-2021 | micro format | 25-04-2022 | 2022-20007137 | |
| 30-09-2020 | micro format | 16-04-2021 | 2021-10700017 | |
| 30-09-2019 | micro format | 27-04-2020 | 2020-10000517 | |
| 30-09-2018 | micro format | 26-06-2019 | 2019-23000053 | |
| 30-09-2017 | micro format | 23-04-2018 | 2018-10400171 | |
| 30-09-2016 | abbreviated format | 07-04-2017 | 2017-09200240 |
Board & ownership
Directors
Directors
1 director
Briers Joris
Current
Director · listed in the 2025 annual accounts, filed on 07-04-2026
Owners and capital
Owners
Network & group
BOR shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of BOR. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
07-04
micro format · 23 days before the deadline
2025
30-09
Financial
Back to profitnet €9,933
The net result is €9,933, after one loss-making year.
10-04
micro format · 20 days before the deadline
2024
24-04
micro format · 6 days before the deadline
2023
30-09
Financial
Back to profitnet €36,199
The net result is €36,199, after one loss-making year.
26-04
micro format · 4 days before the deadline
2022
30-09
Financial
Weakest financial yearnet -€6,223
The net result drops to -€6,223, the lowest from 2019 to 2025. It recovers the following year.
25-04
micro format · 5 days before the deadline
2021
30-09
Financial
Liquidity more than quadruplescurrent ratio 31.45
The current ratio rises from 6.56 to 31.45. Short-term debt falls from €90,354 to €17,709.
16-04
micro format · 14 days before the deadline
2020
30-09
Financial
Equity above €500,000equity €502,380 ▲26.1%
With a profit in every financial year since 2019, equity grows to €502,380.
27-04
micro format · 3 days before the deadline
Show earlier events
2019
26-06
micro format · 57 days late
2018
23-04
micro format · 7 days before the deadline
2017
07-04
abbreviated format · 23 days before the deadline
2002
15-03
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
BOR in Dutch
Enterprise number
0476.823.690
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
01-03-2002
Entity type
Legal entity
Registered office and establishments
Registered office
Geverslaan 22 A, 3650 Dilsen-Stokkem, Belgium
Establishment unit
BOR, Geverslaan 22, 3650 Dilsen-Stokkem since 08-03-2002 · unit number 2.100.526.090
Phone
089 35 27 80Dilsen-Stokkem
Activities
NACEBEL 202564210
Activities of holding companies main activity
70200
Business and other management consultancy
Codes under NACEBEL 2008
64200
Holdings main activity
70220
Business consulting
Codes under NACEBEL 2003
74151
main activity
74142
Invoicing and payment
VAT number
BE 0476.823.690
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Sites & property
Location
Buildings and parcels at the address
Ground area
489 m²
Building footprint
91 m²
Building volume
546 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73043A0346/00H002 | Flanders | 489 m² | 1 · 91 m² | 9.4 m · 2 |