BOREAS DEVELOPMENT
ActiveSummary
The computed 12-month bankruptcy probability of BOREAS DEVELOPMENT is 6.4% (elevated). The 2024 annual accounts show equity of €120,108 and a net result of -€13,059. Equity is growing by ~18.1% per year across the filed fiscal years. The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2024, full schema
2020 to 2024, 5 fiscal years 2018 to 2024, 7 fiscal years
The operating result stays negative: a loss of €22,987 in 2024 against €22,693 in 2023; the loss grows and 2024 has the lowest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 6.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,450 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,910 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €12.1m | - | - | - | - |
| Turnover70 | - | - | - | €12.1m | - | - | - | - |
| Operating charges60/66A | - | - | - | €8.3m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €8.3m | - | - | - | - |
| Purchases600/8 | - | - | - | €8.3m | - | - | - | - |
| Services and other goods61 | - | - | - | €0.01m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 0.8% |
| Gross operating margin9900 | - | - | - | - | €0.8m | -€0.02m | -€0.02m | ▼ 1.3% |
| Operating profit (loss)9901 | -€0.01m | -€0.01m | -€0.01m | €3.8m | €0.8m | -€0.02m | -€0.02m | ▼ 1.3% |
| Financial income75/76B | - | - | - | - | €0.02m | €0.05m | €0.006m | ▼ 88.0% |
| Recurring financial income75 | €30 | - | - | - | €0.02m | €0.05m | €0.006m | ▼ 88.0% |
| Financial charges65/66B | - | - | - | €0.01m | €0.007m | €0.001m | €0.002m | ▲ 97.1% |
| Recurring financial charges65 | €0.001m | €0.009m | €0.008m | €0.01m | €0.007m | €0.001m | €0.002m | ▲ 97.1% |
| Debt charges650 | - | €0.007m | €0.008m | €0.009m | - | - | - | - |
| Other financial charges652/9 | - | - | - | €0.001m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€0.01m | -€0.02m | -€0.02m | €3.8m | €0.8m | €0.02m | -€0.02m | ▼ 188% |
| Income taxes67/77 | - | - | - | €0.6m | €0.2m | €0.01m | -€0.007m | ▼ 157% |
| Taxes670/3 | - | - | - | €0.6m | - | - | - | - |
| Profit (loss) for the period9904 | -€0.01m | -€0.02m | -€0.02m | €3.1m | €0.6m | €0.01m | -€0.01m | ▼ 221% |
| Profit (loss) for the period to be appropriated9905 | -€0.01m | -€0.02m | -€0.02m | €3.1m | €0.6m | €0.01m | -€0.01m | ▼ 221% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.3m | €2.8m | €8.6m | €5.1m | €2.1m | €0.2m | €0.1m | ▼ 5.8% |
| Current assets29/58 | €0.3m | €2.8m | €8.6m | €5.1m | €2.1m | €0.2m | €0.1m | ▼ 5.8% |
| Stocks and contracts in progress3 | €0.3m | €2.8m | €8.6m | €0.8m | - | - | - | - |
| Stocks30/36 | - | - | - | €0.8m | - | - | - | - |
| Property held for sale35 | - | - | - | €0.8m | - | - | - | - |
| Amounts receivable within one year40/41 | - | - | €0.01m | €0 | €2.1m | €0.1m | €0.1m | ▲ 0.9% |
| Other amounts receivable41 | - | - | - | €0 | €2.1m | €0.1m | €0.1m | ▲ 0.9% |
| Cash at bank and in hand54/58 | €0.03m | €0.008m | €0.01m | €4.3m | €0.02m | €0.01m | €77 | ▼ 99.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.3m | €2.8m | €8.6m | €5.1m | €2.1m | €0.2m | €0.1m | ▼ 5.8% |
| Equity10/15 | €0.02m | €0.006m | -€0.01m | €0.6m | €0.1m | €0.1m | €0.1m | ▼ 9.8% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | -€0.04m | -€0.06m | -€0.08m | €0.6m | €0.05m | €0.06m | €0.05m | ▼ 20.1% |
| Amounts payable17/49 | €0.3m | €2.8m | €8.6m | €4.5m | €2.0m | €0.02m | €0.03m | ▲ 15.9% |
| Amounts payable after more than one year17 | - | - | €4.0m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.3m | €2.8m | €4.6m | €4.5m | €2.0m | €0.02m | €0.03m | ▲ 15.9% |
| Financial debts43 | - | - | - | - | - | - | €85 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €85 | - |
| Trade debts44 | €0.004m | €0.004m | €0.02m | €0.3m | €0.005m | €0.007m | €0.02m | ▲ 159% |
| Suppliers440/4 | - | - | - | €0.3m | €0.005m | €0.007m | €0.02m | ▲ 159% |
| Taxes, remuneration and social security45 | - | - | - | €0.6m | €0.9m | €0.007m | - | - |
| Taxes450/3 | - | - | - | €0.6m | €0.9m | €0.007m | - | - |
| Other amounts payable47/48 | - | - | - | €3.5m | €1.1m | €0.01m | €0.01m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.01m | -€0.02m | -€0.02m | €3.1m | €0.6m | €0.01m | -€0.01m | ▼ 221% |
| Operating cash flow (approximation) | -€0.01m | -€0.02m | -€0.02m | €3.1m | €0.6m | €0.01m | -€0.01m | ▼ 221% |
| Change in cash | - | -€0.02m | €0.002m | €4.3m | -€4.2m | -€0.01m | -€0.01m | ▼ 2.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.