BORGHS
ActiveSummary
BORGHS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €506,093 and a net result of €117,369. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 38% of 16754 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+43
Solvency74▲+7
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 1.71 in 2024; short-term debt: 51% and cash: 17.3% of total assets), but 51% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
49%
Return on assets
11.4%
Age of the figures
9 mo
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
7 d early
2023
6 d early
2022
3 d early
2021
2 d early
2020
1 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 28 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#2 oldest company in Kasterlee, Health and social work sector
Equity
€506,093▲ 29.9%
2024 · €389,584
Total assets
€1.0m▲ 10.6%
2024 · €934,680
Net result
€117,369▲ 297%
2024 · €29,572
Working capital
€497,741▲ 28.7%
2024 · €386,652
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€128,383▲ 39.8%€73,437▼ 42.8%€42,675▼ 41.9%€74,658▲ 74.9%€137,727▲ 84.5%
Net result€81,876within the sector's middle half▲ 46.7%€41,876within the sector's middle half▼ 48.9%€10,326below the sector's middle half▼ 75.3%€29,572within the sector's middle half▲ 186%€117,369within the sector's middle half▲ 297%
Equity€428,662above the sector's middle half▼ 0.6%€454,695above the sector's middle half▲ 6.1%€415,854above the sector's middle half▼ 8.5%€389,584above the sector's middle half▼ 6.3%€506,093above the sector's middle half▲ 29.9%
Total assets€789,851above the sector's middle half▲ 9.0%€837,226above the sector's middle half▲ 6.0%€866,560above the sector's middle half▲ 3.5%€934,680above the sector's middle half▲ 7.9%€1.0mabove the sector's middle half▲ 10.6%
Debt€361,189▲ 23.2%€382,531▲ 5.9%€450,705▲ 17.8%€545,096▲ 20.9%€527,379▼ 3.3%
Working capital€398,751above the sector's middle half▲ 1.4%€427,837above the sector's middle half▲ 7.3%€413,466above the sector's middle half▼ 3.4%€386,652above the sector's middle half▼ 6.5%€497,741above the sector's middle half▲ 28.7%
Solvency54.3%within the sector's middle half▼ 5.3pp54.3%within the sector's middle half=48.0%within the sector's middle half▼ 6.3pp41.7%within the sector's middle half▼ 6.3pp49.0%within the sector's middle half▲ 7.3pp
Current ratio2.10within the sector's middle half▼ 0.242.12within the sector's middle half▲ 0.011.92within the sector's middle half▼ 0.201.71within the sector's middle half▼ 0.211.94within the sector's middle half▲ 0.23
Return on assets (ROA)10.4%within the sector's middle half▲ 2.7pp5.0%below the sector's middle half▼ 5.4pp1.2%below the sector's middle half▼ 3.8pp3.2%below the sector's middle half▲ 2.0pp11.4%within the sector's middle half▲ 8.2pp
Staff (FTE)11=1=
above
within
below
the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 84% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€8,352 ▲ 185%
Current assets
€1.0m ▲ 10.0%
Equity and liabilities €1.0m
Equity
€506,093 ▲ 29.9%
Debt
€527,379 ▼ 3.3%
Debt's share of the balance-sheet total falls from 58.3% to 51.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€141,629▲
2024 · €76,052
Cash flow
€121,271▲
2024 · €30,966
Debt to equity
1.04▼
2024 · 1.40
ROE
23.2%▲
2024 · 7.6%
Interest coverage
21.76▲
2024 · 2.08
Debt ≤ 1 year
€527,379▼
2024 · €545,096
Income taxes
€56,795▲
2024 · €12,494
Staff costs
€18,121▲
2024 · €17,442
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 31,349 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €14,770 | €17,694 | €17,832 | €17,442 | €18,121 | ▲ 3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,482 | €8,654 | €8,719 | €1,395 | €3,902 | ▲ 180% |
| Other operating charges640/8 | €2,534 | €1,953 | €1,121 | €1,988 | €1,831 | ▼ 7.9% |
| Non-recurring operating charges66A | - | - | €15,751 | €0 | - | - |
| Gross operating margin9900 | €154,168 | €101,738 | €86,098 | €95,482 | €161,581 | ▲ 69.2% |
| Operating profit (loss)9901 | €128,383 | €73,437 | €42,675 | €74,658 | €137,727 | ▲ 84.5% |
| Financial income75/76B | €3,879 | €4,479 | €930 | €4,053 | €42,946 | ▲ 960% |
| Recurring financial income75 | €3,879 | €4,479 | €930 | €4,053 | €42,946 | ▲ 960% |
| Financial charges65/66B | €15,580 | €18,111 | €27,045 | €36,645 | €6,509 | ▼ 82.2% |
| Recurring financial charges65 | €15,580 | €18,111 | €27,045 | €36,645 | €6,509 | ▼ 82.2% |
| Profit (loss) for the period before taxes9903 | €116,682 | €59,806 | €16,561 | €42,066 | €174,164 | ▲ 314% |
| Income taxes67/77 | €34,806 | €17,930 | €6,235 | €12,494 | €56,795 | ▲ 355% |
| Profit (loss) for the period9904 | €81,876 | €41,876 | €10,326 | €29,572 | €117,369 | ▲ 297% |
| Profit (loss) for the period to be appropriated9905 | €81,876 | €41,876 | €10,326 | €29,572 | €117,369 | ▲ 297% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €789,851 | €837,226 | €866,560 | €934,680 | €1.0m | ▲ 10.6% |
| Fixed assets21/28 | €29,910 | €26,858 | €2,388 | €2,931 | €8,352 | ▲ 185% |
| Tangible fixed assets22/27 | €29,910 | €26,858 | €2,388 | €2,931 | €8,352 | ▲ 185% |
| Land and buildings22 | €27,490 | €23,224 | - | - | - | - |
| Plant, machinery and equipment23 | €2,421 | €1,909 | €1,396 | €2,672 | €1,966 | ▼ 26.4% |
| Furniture and vehicles24 | - | €1,725 | €992 | €259 | €6,386 | ▲ 2,365% |
| Current assets29/58 | €759,940 | €810,368 | €864,171 | €931,748 | €1.0m | ▲ 10.0% |
| Amounts receivable within one year40/41 | €867 | €9,541 | €34,536 | €27,991 | €3,767 | ▼ 86.5% |
| Trade receivables40 | €417 | €1,599 | €20,638 | €10,616 | €3,767 | ▼ 64.5% |
| Other amounts receivable41 | €450 | €7,943 | €13,898 | €17,375 | €0 | ▼ 100% |
| Current investments50/53 | €222,029 | €225,102 | €225,587 | €475,997 | €842,946 | ▲ 77.1% |
| Cash at bank and in hand54/58 | €537,044 | €575,725 | €604,048 | €427,760 | €178,408 | ▼ 58.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €789,851 | €837,226 | €866,560 | €934,680 | €1.0m | ▲ 10.6% |
| Equity10/15 | €428,662 | €454,695 | €415,854 | €389,584 | €506,093 | ▲ 29.9% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €408,662 | €434,695 | €395,854 | €369,584 | €486,093 | ▲ 31.5% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | €406,662 | €432,695 | €393,854 | €367,584 | €484,093 | ▲ 31.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €361,189 | €382,531 | €450,705 | €545,096 | €527,379 | ▼ 3.3% |
| Amounts payable within one year42/48 | €361,189 | €382,531 | €450,705 | €545,096 | €527,379 | ▼ 3.3% |
| Trade debts44 | €3,981 | €2,207 | €2,173 | €2,954 | €758 | ▼ 74.3% |
| Suppliers440/4 | €3,981 | €2,207 | €2,173 | €2,954 | €758 | ▼ 74.3% |
| Taxes, remuneration and social security45 | €11,186 | €10,788 | €11,767 | €16,769 | €3,662 | ▼ 78.2% |
| Taxes450/3 | €5,883 | €4,391 | €7,022 | €10,005 | €141 | ▼ 98.6% |
| Remuneration and social security454/9 | €5,303 | €6,397 | €4,745 | €6,764 | €3,521 | ▼ 47.9% |
| Other amounts payable47/48 | €346,022 | €369,536 | €436,766 | €525,373 | €522,959 | ▼ 0.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,876 | €41,876 | €10,326 | €29,572 | €117,369 | ▲ 297% |
| + Depreciation and write-downs630 | €8,482 | €8,654 | €8,719 | €1,395 | €3,902 | ▲ 180% |
| Operating cash flow (approximation) | €90,358 | €50,530 | €19,044 | €30,966 | €121,271 | ▲ 292% |
| Investment in fixed assets (approximation) | - | -€5,602 | €15,751 | -€1,937 | -€9,323 | ▼ 381% |
| Change in cash | - | €38,681 | €28,323 | -€176,288 | -€249,353 | ▼ 41.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €117,369 ▲297%
Operating result €137,727, net result €117,369, both a record.
31-12
Financial
Equity above €500,000Eq €506,093 ▲29.9%
8 profitable years in a row build equity to €506,093.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €10,326 ▼75.3%
Net result drops to €10,326, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kasterlee · 1 establishment unit since 1989
Ground area
698 m²
Building footprint
138 m²
Volume, LiDAR
1,068 m³
Parcel 13017F0366/00S002, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Mgr. Cardijnstraat 30, 2460 Kasterlee
since 19892.042.016.581
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13017F0366/00S002 | Flanders | 698 m² | 1 · 138 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
6488K8BDZ6J151ZW6362
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Of 9,130 companies in sector 86210 we hold annual accounts for 6,336. 4,883 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded29-07-1988
Fiscal year end31-12
Activities, NACEBEL 2025
86210General medical practice
E-invoicing
Not found in the Peppol register
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.