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Borcon

Active
Private limited companyfounded 20196 yrs activeHeistraat 51, 2440 Geel, BelgiumKBO/BCE: BE 0735.458.354
Summary

Borcon has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €52k and a net result of €215k. Equity is shrinking by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 16% of 3307 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2025
73 / 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+2
Solvency33=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity short (current ratio 0.59 against 0.61 in 2024; short-term debt: 20.8% and cash: 10% of total assets), and 92.4% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 6 years 0 10 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
7.6%
Return on assets
31.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 3307 sector peers (2025).
NBB · sector comparison
Position among 3307 sector peers
Solvency
better than 16%
← weakest strongest →
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 24-03-2026, 129 days ahead of the deadline.
NBB · 6 filings
Deviation from the deadline
2025
129 d early
2024
66 d early
2023
58 d early
2022
59 d early
2021
59 d early
2020
32 d early
← before the deadline after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Equity
€52k=
2024 · €52k
2020: €112k 2021: €190k 2022: €240k 2023: €52k 2024: €52k
2020 → 2025
Total assets
€682k▲ 7.3%
2024 · €636k
2020: €364k 2021: €432k 2022: €733k 2023: €810k 2024: €636k
2020 → 2025
Net result
€215k▲ 46.6%
2024 · €147k
2020: €112k 2021: €79k 2022: €51k 2023: €106k 2024: €147k
2020 → 2025
Working capital
€-58k▲ 23.9%
2024 · €-76k
2020: €17k 2021: €104k 2022: €145k 2023: €-50k 2024: €-76k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20212022202320242025Trend
Equity€190k-€240k▲ 26.3%€52k▼ 78.4%€52k=€52k=
Operating result€103k-€74k▼ 28.2%€155k▲ 108%€202k▲ 30.6%€292k▲ 44.5%
Net result€79k-€51k▼ 35.3%€106k▲ 110%€147k▲ 37.7%€215k▲ 46.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€0€100k€200k€300kOperating result 2021: €103k€103kNet result 2021: €79k€79kOperating result 2022: €74k€74kNet result 2022: €51k€51kOperating result 2023: €155k€155kNet result 2023: €106k€106kOperating result 2024: €202k€202kNet result 2024: €147k€147kOperating result 2025: €292k€292kNet result 2025: €215k€215k20212022202320242025€0€100k€200k€300kOperating result 2023: €155k€155kNet result 2023: €106k€106kOperating result 2024: €202k€202kNet result 2024: €147k€147kOperating result 2025: €292k€292kNet result 2025: €215k€215k202320242025
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 45% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €682k
Fixed assets €598k ▲ 15.8%
Current assets €84k ▼ 29.8%
Equity and liabilities €682k
Equity €52k =
Debt €630k ▲ 7.9%
Debt's share of the balance-sheet total rises from 91.9% to 92.4%. Debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€329k▲
2024 · €236k
Cash flow
€252k▲
2024 · €180k
Current ratio
0.59▼
2024 · 0.61
Debt to equity
12.17▲
2024 · 11.28
ROE
415.1%▲
2024 · 283.1%
ROA
31.5%▲
2024 · 23.1%
Interest coverage
29.54▲
2024 · 19.36
Debt ≤ 1 year
€142k▼
2024 · €196k
Debt > 1 year
€484k▲
2024 · €388k
Income taxes
€66k▲
2024 · €43k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet Code20242025
Assets
Total assets20/58€636k€682k▲
Fixed assets21/28€516k€598k▲
Tangible fixed assets22/27€516k€598k▲
Land and buildings22€453k€533k▲
Plant, machinery and equipment23€3k€3k▼
Furniture and vehicles24-€6k
Other tangible fixed assets26€60k€56k▼
Current assets29/58€119k€84k▼
Amounts receivable within one year40/41€12k€14k▲
Trade receivables40€12k€14k▲
Cash at bank and in hand54/58€106k€68k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€636k€682k▲
Equity10/15€52k€52k=
Contributions10/11€1k€1k=
Reserves13€51k€51k=
Distributable reserves133€51k€51k=
Amounts payable17/49€584k€630k▲
Amounts payable after more than one year17€388k€484k▲
Financial debts170/4€388k€484k▲
Amounts payable within one year42/48€196k€142k▼
Current portion of amounts payable after more than one year42€31k€32k▲
Trade debts44€1k€11k▲
Suppliers440/4€1k€11k▲
Taxes, remuneration and social security45€9k€22k▲
Taxes450/3€7k€19k▲
Remuneration and social security454/9€2k€3k▲
Other amounts payable47/48€155k€77k▼
Accrued charges and deferred income492/3-€4k
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34k€38k▲
Other operating charges640/8€4k€18k▲
Gross operating margin9900€239k€347k▲
Operating profit (loss)9901€202k€292k▲
Financial income75/76B€97€98▲
Recurring financial income75€97€98▲
Financial charges65/66B€12k€11k▼
Recurring financial charges65€12k€11k▼
Profit (loss) for the period before taxes9903€190k€281k▲
Income taxes67/77€43k€66k▲
Profit (loss) for the period9904€147k€215k▲
Profit (loss) for the period to be appropriated9905€147k€215k▲
Appropriation of the result
Profit (loss) to be appropriated9906€147k€215k▲
Profit to be distributed694/7€147k€215k▲
Return on contributions (dividend)694€147k€215k▲

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
24-03
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial Highest result since 2020net €215k ▲46.6%
Operating result €292k, net result €215k, both a record.
26-05
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-06
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
02-06
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Weakest financial yearnet €51k ▼35.3%
Net result drops to €51k, the lowest in the series; recovery starts the following year.
31-12
Financial Equity above €200kEq €240k ▲26.3%
3 profitable years in a row build equity to €240k.
02-06
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial Liquidity doublescurrent ratio 3.66
Current ratio from 1.49 to 3.66.
31-12
Financial Equity above €150kEq €190k ▲69.5%
2 profitable years in a row build equity to €190k.
29-06
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Geel · 1 establishment unit since 2019
seat establishment The establishment unit on the map
Ground area
437 m²
Building footprint
110 m²
Volume, LiDAR
5 m³
Parcel 13008H0014/00Z005, Flanders · tallest building 0.6 m. Linked by address, not a title deed.
1 establishment unit
Borcon
Heistraat 51, 2440 GeelActivities of lawyers
since 20192.294.063.658
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
13008H0014/00Z005 Flanders 437 m² 1 · 110 m² 0.6 m
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Public money · subsidies and aid

Flemish government

2022 to 2025 · 3 entries · 807 EUR awarded · 386 EUR paid
Year Entries awardedpaid
2025 1 420 EUR0 EUR
2024 1 330 EUR330 EUR
2022 1 57 EUR56 EUR
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
3 entries · 807 EUR · 386 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

Of 22,056 companies in sector 69101 we hold annual accounts for 9,055. 7,236 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification
Legal formPrivate limited company
Founded30-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
88999Other social work without accommodation
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.