Equity
€177,118 from €2.3m in 2006
Equity fell by 92% in 19 years.
BORALIT
Lifetime
20 annual accounts with figures on one time axis, 43 filings since 1982peak €12.4m (2006)
-not published
lowest -€571,351 (2011)
€154,127▲ €253,642
peak €2.3m (2006)
€177,118▲ 670%
€702,792▲ 11.2%
peak 29.5 FTE (2006)
5.9 FTE▼ 11.9%
Board8 names since 2020
3 directorsJACQMAN and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
10-07-202621 days before the deadline
2025financial year
Gross margin from €344,404 to €606,173Back to profit: €154,127Staff from 6.7 FTE to 5.9 FTEEquity from €22,991 to €177,118Investments €26,181Cash from €8,951 to €88,863
Key points
from the 2025 annual accountsTurnover
≈ €1.4m estimated
The accounts state no turnover.
Debts
€702,792 80% of the balance sheet
Financial debts 1%Suppliers 37%Taxes and wages 10%Other 52%
Of this, €698,029 falls due within a year.
Investments
€56,181 3.9 × depreciation
Green is investment, beige is depreciation.
Staff
5.9 FTE from 29.5 in 2006
Between 2006 and 2025, 80% of the full-time equivalents disappeared.
Position in the sector
€177,118
Less equity than 91% of companies in rubber and plastics. Sector median €3.8m · 232 companies.
Checked score
82
Excellent
Financially stronger than 57% of micro companies in rubber and plastics (NACE 22)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 355 companies (NACE 22, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.3%
01-2025: 4.3%● unchanged vs 12-2024
02-2025: 4.3%● unchanged vs 01-2025
03-2025: 4.2%▼ -0.1 percentage points vs 02-2025
04-2025: 4.3%▲ +0.1 percentage points vs 03-2025
05-2025: 4.3%● unchanged vs 04-2025
06-2025: 4.0%▼ -0.3 percentage points vs 05-2025
07-2025: 4.4%▲ +0.4 percentage points vs 06-2025
08-2025: 4.4%● unchanged vs 07-2025
09-2025: 4.4%● unchanged vs 08-2025
10-2025: 4.4%● unchanged vs 09-2025
11-2025: 4.4%● unchanged vs 10-2025
12-2025: 4.4%● unchanged vs 11-2025
01-2026: 4.4%● unchanged vs 12-2025
02-2026: 4.4%● unchanged vs 01-2026
03-2026: 4.3%▼ -0.1 percentage points vs 02-2026
04-2026: 4.4%▲ +0.1 percentage points vs 03-2026
05-2026: 4.4%● unchanged vs 04-2026highest value
06-2026: 4.2%▼ -0.2 percentage points vs 05-2026
07-2026: 4.3%▲ +0.1 percentage points vs 06-2026
08-2026: 0.6%▼ -3.7 percentage points vs 07-2026lowest value
09-2026: 0.6%● unchanged vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Sector: Manufacture of rubber and plastic products (NACE 22)
Equity €177,118 (20.1% of total assets)
1 of the last 3 accounts late
lowers risk
Founded in 1982
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 22, micro). It does better than 29% of them on solvency, 15% on liquidity, 85% on profitability and 98% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,818 companies had the same profile as BORALIT has now. Each dot stands for 10 companies, two years later.
95.1%
were still trading
3.7%
stopped another way
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BORALIT itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,818 companies, not a prediction for BORALIT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €14,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.19 (0.99 in 2024), below the usual 1.5. Short-term debt is 79.3% and cash 10.1% of total assets. 79.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 232 sector peers (2025).
NBB · sector comparisonPosition among 232 sector peers
Solvency
better than 17%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €177,118
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 days early
2024
20 days early
2023
55 days late
2022
38 days early
2021
44 days early
2020
31 days early
2019
41 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 20 days before the deadline. In the sector (NACE 22), the median for financial year 2024 was 14 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- SUSTAINABLE DEVELOPMENT GROUP 100%equity €5.2m (2025) · 2025 annual accounts of SUSTAINABLE DEVELOPMENT GROUP
- Nicoba NV consolidatesequity €5.8m (2025) · annual accounts 30-12-2015
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0422863184
Amendment of the articles
Gazette deed
3 directors appointed, 3 resignations
Resignations: NICOBA (managing director), BYCOSELL and Borré Rudolf (chair of the board) · Permanent representatives: Borré Rudolf, Borré Benní, Quint Gevaert, Sydney Gevaert and Marc Thometschek · Appointments: JACQMAN, SYDWELL and MUTN · General meeting of 27-10-2022 · Gazette deed
General meeting of 25-02-2022
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BORALIT Aalter | €0.9m | €606,173 | 20.1% | 5.9 |
| VARITAPE Temse | €1.6m | €746,322 | 80.4% | 6.8 |
| POLYMAR Nivelles | €0.7m | €423,617 | 30.1% | 4.8 |
| NOVIFOR Jabbeke | €1.4m | €678,486 | 62.7% | 7.2 |
| METAPLEX Antwerp | €1.0m | €399,271 | 45.3% | 6.1 |
| POLY-SEAL Zele | €2.4m | €663,046 | 25.6% | 7.6 |
| SOCIETE INDUSTRIELLE DES PLASTIQUES Wavre | €1.0m | €383,086 | 34.8% | 6.8 |
These companies have the same main activity as BORALIT: manufacture of rubber and plastic products (NACE 22260). They are comparable in size and age: total assets between €683,000 and €2.4m, founded between 1968 and 1991.
Official details
Source: KBO- Status
- Active since 02-07-1982Normal situation
- Activity
- Manufacture of rubber and plastic productsNACE 22260and 2 others
- Joint committees
- 207White-collar workers in the chemical industry
- 116Chemical industry · annual accounts 2025
- Establishment unit
- 2.020.812.8769880 Aalter, since 01-07-1982
- Financial year end
- 31 December
- Peppol
- Reachable since 05-11-2025
Annual accounts 2025
- €879,910▲ 34.3%
- Employeeson 31-12-2025
- 6=
- Filing
- Filed on 10-07-2026, 21 days before the end of the filing period
Insights on BORALIT
BORALIT has existed since 1982. Turnover fell from €12.4m in 2006 to €4.6m in 2007.
Solvency rose in 2025 from 3.5% to 20.1% because of the retained profit.
SUSTAINABLE DEVELOPMENT GROUP holds all the shares. In October 2022, three directors stepped down. In November 2022, the Official Gazette published the appointment of JACQMAN as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BORALIT
- What is the company number of BORALIT?
- The company number of BORALIT is 0422.863.184. The VAT number is the same number with BE in front: BE 0422.863.184.
- Where is BORALIT based?
- The registered office is at Nijverheidslaan 12, 9880 Aalter.Company details
- What does BORALIT do?
- According to the KBO register, the main activity is manufacture of rubber and plastic products (NACE 22260).
- What is the legal form of BORALIT?
- BORALIT is a public limited company (NV).
- When was BORALIT founded?
- BORALIT was founded on 02-07-1982.
- Is BORALIT still active?
- Yes, BORALIT is an active enterprise in the KBO register.
- How many employees does BORALIT have?
- BORALIT had an average of 5.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BORALIT fall under?
- In its 2025 annual accounts, BORALIT states joint committees 207 (White-collar workers in the chemical industry) and 116 (Chemical industry).
- What is the turnover of BORALIT?
- The turnover in financial year 2025 is ≈ €1.4m. This figure is estimated from the gross margin of €606,173 and 2,275 comparable companies of the same size. It probably lies between €860,000 and €2.4m. It is a rough estimate.
- Is BORALIT profitable?
- In financial year 2025, BORALIT made a profit of €154,127.
- Where can I find the annual accounts of BORALIT?
- BORALIT filed 43 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BORALIT due?
- BORALIT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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