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BORGOO BART

Active
Private limited companyfounded 2019active for 7 yearsOude Stokerijstraat 2, 8490 Jabbeke, BelgiumKBO/BCE: BE 0720.972.789
Summary

BORGOO BART has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €456,193 and a net result of €34,061. Equity has been growing by about 19% per year since 2020. Its solvency ranks better than 70% of 34,946 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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BORGOO BARTActiveChecked score 90/100
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Overview

Overview

Official details

Source: KBO
Status
Active since 20-02-2019 Normal situation
Activity
Installation of electric heating, air conditioning, cooling and ventilation NACE 43222and 4 others
Joint committee
124 Paritair Comité voor het bouwbedrijf · annual accounts 2021
Establishment unit
2.285.775.997 8400 Oostende, since 01-03-2019
Financial year end
31 December
Peppol
Reachable since 06-06-2025
Company details

Board and ownership

Board
Board & ownership

Financial position

90 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Annual accounts 2025
Gross margin
€342,352
▲ 79.6%
Turnover
≈ €850,000
estimated
Profit
€34,061
Equity
€456,193
▲ 8.1%
Total assets
€708,001
▼ 8.2%
Employees on 31-12-2025
3
Filed on 12-06-2026, 49 days before the deadline
Financials
Score breakdownraises riskSector: Specialised construction activities (NACE 43)Founded in 2019lowers riskSize: total assets €708,001Figures for financial year 2025 (filed on 12-06-2026)Show the evidence

Checked score

Score 2025
90 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 58% of micro companies in specialised construction (NACE 43)
Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Strong
Solvency 89+9
equity 64.4% of total assets
Liquidity 62+18
short-term debt 13.3% · cash 11.6%
Profitability 75+53
return on assets 4.8%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,674 companies, NACE 43, micro)
Last 24 months 12-2024: 0.8% 01-2025: 0.8%● unchanged vs 12-2024 02-2025: 0.8%● unchanged vs 01-2025 03-2025: 0.8%● unchanged vs 02-2025 04-2025: 0.4%▼ -0.4 percentage points vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 1.2%▲ +0.8 percentage points vs 06-2025 08-2025: 1.2%● unchanged vs 07-2025 09-2025: 1.2%● unchanged vs 08-2025 10-2025: 1.2%● unchanged vs 09-2025 11-2025: 1.2%● unchanged vs 10-2025 12-2025: 1.2%● unchanged vs 11-2025 01-2026: 1.2%● unchanged vs 12-2025 02-2026: 1.2%● unchanged vs 01-2026 03-2026: 1.3%▲ +0.1 percentage points vs 02-2026 04-2026: 1.4%▲ +0.1 percentage points vs 03-2026 05-2026: 1.4%● unchanged vs 04-2026 06-2026: 1.3%▼ -0.1 percentage points vs 05-2026 07-2026: 1.4%▲ +0.1 percentage points vs 06-2026 08-2026: 1.5%▲ +0.1 percentage points vs 07-2026 09-2026: 1.6%▲ +0.1 percentage points vs 08-2026highest value 10-2026: 0.2%▼ -1.4 percentage points vs 09-2026lowest value 11-2026: 0.2%● unchanged vs 10-2026lowest value
Credit of up to €40,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.41 (2.08 in 2024), above the usual 1.5. Short-term debt is 13.3% and cash 11.6% of total assets. 35.6% of the assets are financed with debt and provisions.
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 43, micro). It does better than 70% of them on solvency, 61% on liquidity, 48% on profitability and 52% on growth.

The bankruptcy probability was computed on 01-11-2026 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.

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).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €708,001
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Sector: Specialised construction activities (NACE 43)
KBO
lowers risk · Figures for financial year 2025 (filed on 12-06-2026)
NBB · annual accounts
raises risk · Founded in 2019
Companies of this age fail more often than older ones. How much that weighs depends on the rest of the company's profile.
KBO
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 12-06-2026, 49 days ahead of the deadline.
NBB · 6 filings
Deviation from the deadline
2025
49 days early
2024
49 days early
2023
47 days early
2022
34 days early
2021
34 days early
2020
32 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 41 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 15 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 12-06-2026 at the NBB all 6 filings

Turnover
€640,289▼ 41.7%
2023 · €1.1m
EBIT margin
-5.4%▼ 27.2pp
2023 · 21.7%
Net result
€34,061
2024 · -€46,617
Working capital
€226,589▲ 22.0%
2024 · €185,712
Trend over the years

2021 to 2025, 5 financial years 2020 to 2025, 6 financial years

The operating result for 2025 is a profit of €55,593, after a loss of €34,865 in 2024.

Turnover€0.6m 2024 Operating result€0.06m 2025 Net result€0.03m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line202020212022202320242025
Turnover€1.0m€1.1m▲ 14.3%€0.6m▼ 41.7%
Operating result€0.1m-€0.08m▼ 43.1%€0.1m▲ 68.8%€0.2m▲ 80.5%-€0.03m€0.06m
Net result€0.1mabove the sector's middle half-€0.06mabove the sector's middle half▼ 36.1%€0.1mabove the sector's middle half▲ 78.4%€0.2mabove the sector's middle half▲ 59.4%-€0.05mbelow the sector's middle half€0.03mabove the sector's middle half
EBIT margin13.8%21.7%▲ 8.0pp-5.4%▼ 27.2pp
Equity€0.1mwithin the sector's middle half-€0.2mabove the sector's middle half▲ 53.5%€0.3mabove the sector's middle half▲ 62.2%€0.5mabove the sector's middle half▲ 61.1%€0.4mwithin the sector's middle half▼ 9.9%€0.5mabove the sector's middle half▲ 8.1%
Total assets€0.2mwithin the sector's middle half-€0.3mwithin the sector's middle half▲ 75.3%€0.6mabove the sector's middle half▲ 113%€0.8mabove the sector's middle half▲ 29.3%€0.8mwithin the sector's middle half▲ 1.1%€0.7mabove the sector's middle half▼ 8.2%
Debt€0.04m-€0.1m▲ 137%€0.3m▲ 206%€0.3m▼ 1.7%€0.3m▲ 18.6%€0.3m▼ 28.0%
Working capital€0.1mabove the sector's middle half-€0.1mabove the sector's middle half▲ 31.6%€0.2mabove the sector's middle half▲ 20.5%€0.3mabove the sector's middle half▲ 101%€0.2mwithin the sector's middle half▼ 40.2%€0.2mabove the sector's middle half▲ 22.0%
Solvency73.9%above the sector's middle half-64.7%within the sector's middle half▼ 9.2pp49.3%within the sector's middle half▼ 15.4pp61.4%within the sector's middle half▲ 12.1pp54.7%within the sector's middle half▼ 6.7pp64.4%within the sector's middle half▲ 9.7pp
Current ratio4.66above the sector's middle half-4.01above the sector's middle half▼ 0.652.37within the sector's middle half▼ 1.643.32above the sector's middle half▲ 0.942.08within the sector's middle half▼ 1.243.41above the sector's middle half▲ 1.33
Return on assets (ROA)61.9%above the sector's middle half-22.6%above the sector's middle half▼ 39.3pp18.9%above the sector's middle half▼ 3.7pp23.3%above the sector's middle half▲ 4.4pp-6.0%below the sector's middle half▼ 29.3pp4.8%within the sector's middle half▲ 10.9pp
Staff (FTE)1within the sector's middle half-1.2▲ 20.0%1.6▲ 33.3%3within the sector's middle half3.3▲ 10.0%
above within below The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €706,224
Fixed assets €385,662 ▼ 6.5%
Current assets €320,561 ▼ 10.3%
Equity and liabilities €708,001
Equity €456,193 ▲ 8.1%
Debt €251,808 ▼ 28.0%
Debt's share of the balance-sheet total falls from 45.3% to 35.6%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€108,176▲
2024 · €12,377
Cash flow
€86,644▲
2024 · €624
Quick ratio
2.69▲
2024 · 1.69
Debt to equity
0.55▼
2024 · 0.83
ROE
7.5%▲
2024 · -11.0%
Interest coverage
6.27▲
2024 · 0.94
Debt ≤ 1 year
€93,973▼
2024 · €171,598
Debt > 1 year
€153,071▼
2024 · €177,144
Income taxes
€7,407▲
2024 · €2,125
Staff costs
€223,598▲
2024 · €175,982
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-2025
Employees at the balance-sheet date213
full-time213
in full-time equivalents213
Average over the year, in full-time equivalents1.21.63.3
On a permanent contract213
Joined121
Left032
Training hours134-56

Source: social balance sheet in the 2021 to 2025 annual accounts

Overdue debts

tax and social security
Item20212022202320242025
Overdue tax debts--€30,625--

Source: notes to the 2021 to 2025 annual accounts (statement of debts)

Securities and guarantees

on own assets and for others
Item20212022202320242025
Mortgages, amount registered---€150,000€150,000
Mortgage mandates---€150,000€150,000
Carrying value of the mortgaged assets---€144,581€158,506

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€86,855€240,379€163,990€142,863€32,709
Financial fixed assets----€906
Depreciation and write-downs of the year€14,559€25,004€28,619€47,241€52,583

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2024 · 3 entries · €1,238 awarded · €1,238 paid
Year Entries AwardedPaid
2024 1 €873€873
2023 1 €174€174
2022 1 €191€191
Schemes
3 entries · €1,238 · €1,238 paid · Fonds voor Innoveren en Ondernemen

Comparable companies

These companies have the same main activity as BORGOO BART: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €636,000 and €858,000, founded between 2019 and 2020.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
BORGOO BART Jabbeke2019€708,001€456,193€342,352€34,061-2025
ONEK Malle2019€672,153€484,183€392,882€128,9173.12025
COMCOO Hasselt2019€719,411€147,764€396,052€30,1263.82025
KDP Technics Opwijk2019€635,660€262,213€301,304€185,627-2025
Rossion Christophe Ciney2019€635,750€474,070€393,848€52,85952025
JEROEN GOORTS Kortenaken2019€858,073€303,228€314,801€71,777-2025
BELOD Oostkamp2020€821,730€129,028€317,584€35,0263.82025

They were chosen from the 5,585 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 5,047 companies had the same profile as BORGOO BART has now. Two years later, 2.2% had gone bankrupt and 93.9% were still going.

  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit under 5% of the balance sheet
2.2% went bankrupt
3.8% stopped otherwise
93.9% was still going

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of BORGOO BART itself is lower: 0.2% within 12 months. It rests on far more data about BORGOO BART than the profile alone.

Test of the method

The method was tested on the 497,445 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 5,047 companies, not a prediction for BORGOO BART. 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines

Source: Annual accounts 2025 at the NBB, filed on 12-06-2026.

Balance sheet Code20242025
Assets
Total assets20/58€771,648€708,001▼
Formation expenses20€1,925€1,777▼
Fixed assets21/28€412,412€385,662▼
Tangible fixed assets22/27€412,412€384,756▼
Land and buildings22€217,780€231,705▲
Plant, machinery and equipment23€20,630€16,737▼
Furniture and vehicles24€139,477€105,508▼
Other tangible fixed assets26€34,525€30,806▼
Financial fixed assets28-€906
Current assets29/58€357,310€320,561▼
Stocks and contracts in progress3€67,590€67,892▲
Stocks30/36€67,590€67,892▲
Amounts receivable within one year40/41€260,441€148,958▼
Trade receivables40€243,053€133,255▼
Other amounts receivable41€17,388€15,704▼
Cash at bank and in hand54/58€12,384€82,125▲
Deferred charges and accrued income490/1€16,895€21,586▲
Equity and liabilities
Total equity and liabilities10/49€771,648€708,001▼
Equity10/15€422,131€456,193▲
Contributions10/11€19,000€19,000=
Reserves13€449,749€437,193▼
Distributable reserves133€449,749€437,193▼
Profit (loss) carried forward14-€46,617-
Amounts payable17/49€349,516€251,808▼
Amounts payable after more than one year17€177,144€153,071▼
Financial debts170/4€177,144€153,071▼
Amounts payable within one year42/48€171,598€93,973▼
Current portion of amounts payable after more than one year42€50,134€23,399▼
Trade debts44€114,578€63,681▼
Suppliers440/4€114,578€63,681▼
Advances received on contracts in progress46€2,591€2,706▲
Taxes, remuneration and social security45-€3,423
Taxes450/3-€3,423
Other amounts payable47/48€4,294€764▼
Accrued charges and deferred income492/3€774€4,764▲
Income statement Code20242025
Turnover70€640,289-
Non-recurring operating income76A-€11,227
Goods, raw materials, services and sundry goods60/61€477,194-
Remuneration, social security and pensions62€175,982€223,598▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€47,241€52,583▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€5,813
Other operating charges640/8€2,135€4,765▲
Non-recurring operating charges66A€115-
Gross operating margin9900€190,608€342,352▲
Operating profit (loss)9901-€34,865€55,593▲
Financial income75/76B€3,506€3,138▼
Recurring financial income75€3,506€3,138▼
Financial charges65/66B€13,134€17,262▲
Recurring financial charges65€13,134€17,262▲
Profit (loss) for the period before taxes9903-€44,493€41,468▲
Income taxes67/77€2,125€7,407▲
Profit (loss) for the period9904-€46,617€34,061▲
Profit (loss) for the period to be appropriated9905-€46,617€34,061▲
Appropriation of the result
Profit (loss) to be appropriated9906-€46,617€34,061▲
Transfer to equity691/2-€34,061
To other reserves6921-€34,061
Social balance sheet
Average headcount (FTE)90873.0-

The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line202020212022202320242025Change
Turnover70--€1.0m€1.1m€0.6m--
Non-recurring operating income76A-----€0.01m-
Goods, raw materials, services and sundry goods60/61--€0.7m€0.7m€0.5m--
Remuneration, social security and pensions62-€0.05m€0.09m€0.1m€0.2m€0.2m▲ 27.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.004m€0.01m€0.03m€0.03m€0.05m€0.05m▲ 11.3%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€0.002m--€0.006m-
Other operating charges640/8-€0.001m€0.001m€0.001m€0.002m€0.005m▲ 123%
Non-recurring operating charges66A--€212€0.007m€115--
Gross operating margin9900€0.2m€0.1m€0.3m€0.4m€0.2m€0.3m▲ 79.6%
Operating profit (loss)9901€0.1m€0.08m€0.1m€0.2m-€0.03m€0.06m-
Financial income75/76B-€0.003m€0.005m€0.001m€0.004m€0.003m▼ 10.5%
Recurring financial income75€0.001m€0.003m€0.005m€0.001m€0.004m€0.003m▼ 10.5%
Financial charges65/66B-€0.01m€0.006m€0.01m€0.01m€0.02m▲ 31.4%
Recurring financial charges65€0.009m€0.01m€0.006m€0.01m€0.01m€0.02m▲ 31.4%
Profit (loss) for the period before taxes9903€0.1m€0.07m€0.1m€0.2m-€0.04m€0.04m-
Income taxes67/77€0.03m€0.009m€0.02m€0.05m€0.002m€0.007m▲ 249%
Profit (loss) for the period9904€0.1m€0.06m€0.1m€0.2m-€0.05m€0.03m-
Profit (loss) for the period to be appropriated9905€0.1m€0.06m€0.1m€0.2m-€0.05m€0.03m-
Line202020212022202320242025Change
Assets
Total assets20/58€158,113€277,189€590,548€763,365€771,648€708,001▼ 8.2%
Formation expenses20€751€539€2,373€2,189€1,925€1,777▼ 7.7%
Fixed assets21/28€33,159€105,667€321,042€316,790€412,412€385,662▼ 6.5%
Tangible fixed assets22/27€33,159€105,667€321,042€316,790€412,412€384,756▼ 6.7%
Land and buildings22--€73,199€222,827€217,780€231,705▲ 6.4%
Plant, machinery and equipment23-€10,195€23,472€21,316€20,630€16,737▼ 18.9%
Furniture and vehicles24-€95,473€91,439€72,647€139,477€105,508▼ 24.4%
Other tangible fixed assets26----€34,525€30,806▼ 10.8%
Assets under construction and advance payments27--€132,932----
Financial fixed assets28-----€906-
Current assets29/58€124,202€170,982€267,133€444,386€357,310€320,561▼ 10.3%
Stocks and contracts in progress3€6,774€11,255€94,565€68,737€67,590€67,892▲ 0.4%
Stocks30/36-€11,255€94,565€68,737€67,590€67,892▲ 0.4%
Amounts receivable within one year40/41€82,711€87,479€153,885€289,144€260,441€148,958▼ 42.8%
Trade receivables40-€57,202€85,635€274,593€243,053€133,255▼ 45.2%
Other amounts receivable41-€30,277€68,250€14,551€17,388€15,704▼ 9.7%
Cash at bank and in hand54/58€32,261€68,899€16,500€73,710€12,384€82,125▲ 563%
Deferred charges and accrued income490/1-€3,349€2,183€12,795€16,895€21,586▲ 27.8%
Equity and liabilities
Total equity and liabilities10/49€158,113€277,189€590,548€763,365€771,648€708,001▼ 8.2%
Equity10/15€116,827€179,371€290,919€468,749€422,131€456,193▲ 8.1%
Contributions10/11-€19,000€19,000€19,000€19,000€19,000=
Reserves13€97,827€160,371€271,919€449,749€449,749€437,193▼ 2.8%
Non-distributable reserves130/1-€160,371-----
Reserves not available under the articles1311-€160,371-----
Distributable reserves133--€271,919€449,749€449,749€437,193▼ 2.8%
Profit (loss) carried forward14-----€46,617--
Amounts payable17/49€41,285€97,818€299,629€294,616€349,516€251,808▼ 28.0%
Amounts payable after more than one year17€13,783€55,134€186,971€157,886€177,144€153,071▼ 13.6%
Financial debts170/4-€55,134€186,971€157,886€177,144€153,071▼ 13.6%
Amounts payable within one year42/48€26,640€42,636€112,531€133,945€171,598€93,973▼ 45.2%
Current portion of amounts payable after more than one year42-€17,861€18,163€26,690€50,134€23,399▼ 53.3%
Trade debts44€15,564€18,317€63,057€46,485€114,578€63,681▼ 44.4%
Suppliers440/4-€18,317€63,057€46,485€114,578€63,681▼ 44.4%
Advances received on contracts in progress46----€2,591€2,706▲ 4.4%
Taxes, remuneration and social security45-€5,172€21,561€31,907-€3,423-
Taxes450/3--€16,032€30,625-€3,423-
Remuneration and social security454/9-€5,172€5,529€1,282---
Other amounts payable47/48-€1,286€9,750€28,863€4,294€764▼ 82.2%
Accrued charges and deferred income492/3-€48€127€2,785€774€4,764▲ 516%
Line202020212022202320242025Change
Profit (loss) for the period9904€97,827€62,544€111,548€177,830-€46,617€34,061-
+ Depreciation and write-downs630€4,145€14,559€25,004€28,619€47,241€52,583▲ 11.3%
Operating cash flow (approximation)€101,972€77,103€136,553€206,449€624€86,644▲ 139×
Investment in fixed assets (approximation)--€87,067-€240,379-€24,367-€142,863-€25,833▲ 81.9%
Change in cash-€36,638-€52,399€57,210-€61,326€69,741-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (6)
Financial year Type Filed Reference Document
31-12-2025 micro format 12-06-2026 2026-00167444 NBB
31-12-2024 abbreviated format 12-06-2025 2025-00135962 PDF
31-12-2023 micro format 14-06-2024 2024-00139307 PDF
31-12-2022 micro format 27-06-2023 2023-00175515 PDF
31-12-2021 micro format 27-06-2022 2022-20143017 PDF
31-12-2020 micro format 29-06-2021 2021-29100211 PDF

Board & ownership

Directors

Directors
1 director, last change in 2022
Borgoo Bart
Director (not named in the articles) · since 20-02-2019 · earlier manager (not named in the articles), until 17-10-2022 · term without a fixed end · listed in the 2025 annual accounts, filed on 12-06-2026
Current
Office holders in the KBO →
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 17-10-2022

Owners and capital

Capital transactions

Capital over time
  1. 17-10-2022 Converted to unavailable equity

Mandate history

2 people, 1 in office
Show
  • Board
  • began earlier
  • end not dated
Mandates per person, with start and end dates
Name Functions and periods
Borgoo Bart
  • Manager (not named in the articles), until 17-10-2022
  • Director (not named in the articles), appointed in the act of 17-10-2022, still in office
Marchand Evelien
  • Director (not named in the articles), appointed in the act of 17-10-2022, no longer listed in the 2025 annual accounts
See the board, name and registered office on a given date →

Articles of association

Dissolution ruleThe articles set when and by whom the company can be dissolved.
“Besluit algemene vergadering beraadslagend zoals inzake statutenwijziging, artikel 2:73 Wetboek van vennootschappen en verenigingen”
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Algemene vergadering bepaalt wijze vereffening overeenkomstig wettelijke bepalingen, bestuurder(s) in functie als vereffenaar(s) krachtens…”

Articles of association, deed of 17-10-2022 (in Dutch)

Network & group

BORGOO BART shares no director with another company.

Companies at the same address

3 other companies

Connections & network

1 current director
Depth

The network starts from the directors of BORGOO BART. 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: 31-07-2027
2026
12-06
NBB filing Annual accounts 2025 filedNBB
micro format · 49 days before the deadline
2025
31-12
Financial Back to profitnet €34,061
The net result is €34,061, after one loss-making year.
12-06
NBB filing Annual accounts 2024 filedPDF
abbreviated format · 49 days before the deadline
2024
31-12
Financial Weakest financial yearnet -€46,617
The net result drops to -€46,617, the lowest from 2020 to 2025. It recovers the following year.
14-06
NBB filing Annual accounts 2023 filedPDF
micro format · 47 days before the deadline
2023
31-12
Financial Highest result from 2020 to 2025net €177,830 ▲59.4%
The operating result of €238,668 and the net result of €177,830 are both a record.
27-06
NBB filing Annual accounts 2022 filedPDF
micro format · 34 days before the deadline
23-03
Gazette deed Registered office moved within Jabbeke
2 points ▸
  • Board meeting, “bestuurder” (deed in Dutch)
  • Registered-office move, Oude Stokerijstraat 2 8490 Jabbeke

Open the act in the Belgian Official Gazette

2022
31-12
Financial Equity above €200,000equity €290,919 ▲62.2%
With a profit in every financial year since 2020, equity grows to €290,919.
17-10
Gazette deed Change of role: Borgoo Bart, from manager to director
Appointment: Marchand Evelien (director) · Amendment of the articles · Reserve release15 points ▸
  • Other provision, 07-10-2022
  • Amendment of the articles, mentioned 2 times in the deed
  • Reserve release, “vormen en meerderheden van statutenwijziging, opheffing” (deed in Dutch)
  • Other provision, “verslag bestuursorgaan over wijziging voorwerp, artikel 5:101 WVV” (deed in Dutch)
  • Other provision, “griffie van de ondernemingsrechtbank, neerlegging verslag bestuursorgaan” (deed in Dutch)
  • Purpose change
  • Capital
  • Director resignation, Borgoo Bart (manager (not named in the articles))
  • Director appointment, Borgoo Bart (director (not named in the articles))
  • Director appointment, Marchand Evelien (director (not named in the articles))
  • Other provision, “coördinatie statuten, neerlegging in vennootschapsdossier verzorgen” (deed in Dutch)
  • Registered office clause, “8490 Jabbeke (Zerkegem),Vedastusstraat 92 bus V2A1”, 8 (deed in Dutch)
  • The act holds 3 more points.

Open the act in the Belgian Official Gazette

27-06
NBB filing Annual accounts 2021 filedPDF
micro format · 34 days before the deadline
2021
31-12
Financial Equity above €150,000equity €179,371 ▲53.5%
With a profit in every financial year since 2020, equity grows to €179,371.
29-06
NBB filing Annual accounts 2020 filedPDF
micro format · 32 days before the deadline
2019
22-02
Gazette deed IncorporationPDF
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

BORGOO BART was incorporated on 20 February 2019.1 The registered office was moved to Jabbeke in 2023.2 Turnover fell from €960,884 in 2022 to €640,289 in 2024 and headcount from 1 full-time equivalents in 2020 to 3.3 in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 23-03-2023
  3. 3National Bank, annual accounts 2020, 2022, 2024 and 2025

Company details

Register details

Identity

KBO record
Name BORGOO BART in Dutch
Enterprise number 0720.972.789
Legal form Private limited company
Status Active, normale toestand
Founded 20-02-2019
Entity type Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 17-10-2022 (in Dutch)
Name clauseThe company operates under this name according to its articles.
Borgoo Bart
deed of 17-10-2022 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
“Oprichten of opheffen wanneer en waar nodig geacht bij enkel besluit bestuursorgaan voor zover geen wijziging taalregime”
deed of 17-10-2022 (in Dutch)

Registered office and establishments

Registered office Oude Stokerijstraat 2, 8490 Jabbeke, Belgium
Establishment unit Borgoo Bart, Oudenburgsesteenweg 31, 8400 Oostende since 01-03-2019 · unit number 2.285.775.997

Activities

NACEBEL 2025
VAT activities
43222 Installation of electric heating, air conditioning, cooling and ventilation main activity
43211 General electrical installation work
43221 Plumbing work
43240 Other construction installation
43990 Other specialised construction activities
Social security (RSZ) activities
43222 Installation of electric heating, air conditioning, cooling and ventilation main activity
Codes under NACEBEL 2008
VAT activities
43222 Specialised construction activities main activity
43211 Specialised construction activities
43221 Plumbing
43299 Specialised construction activities
43995 Specialised construction activities
Social security (RSZ) activities
43222 Specialised construction activities main activity
Joint committee 124 Paritair Comité voor het bouwbedrijf annual accounts 2021
PurposeThe purpose describes the activities the company may carry out under its articles.
“Alle installaties en onderhoud voor centrale verwarming,alle elektriciteitsinrichtingen en artikelen,alle sanitaire producten en…”
56 activities
  1. Alle installaties en onderhoud voor centrale verwarming,alle elektriciteitsinrichtingen en artikelen,alle sanitaire producten en inrichtingen,airconditioning,koelinstallaties,tevens alle verrichtingen die zich rechtstreeks of onrechtstreeks bij het voorwerp aansluiten of er de uitbreiding van kunnen bevorderen.
  2. De installaties en onderhoud van Verwarmingssystemen op elektriciteit,gas of stookolie,met inbegrip van de installatie van leidingen,verwarmingsketels,apparatuur(inclusief regelapparatuur)en leidingen voor ventilatie,koeling en klimaatregeling,Koeltorens,niet-elektrische zonnecollectoren;
  3. Het uitvoeren van alle elektriciteitswerken in en op gebouwen en andere bouwwerken,elektrotechnische installaties,elektrische bedradingen,databekabeling,verlichtingen en verlichtingsarmaturen
  4. De installatie van alle sanitaire inrichtingen,lood-en zinkwerken;
  5. De reparatie en het onderhoud van elektrische apparatuur,vermogens,en verdelings-en speciale transformatoren;
  6. Reparatie en het onderhoud van elektrische motoren en van elektrische generatoren en generatoraggregaten;
  7. Reparatie en het onderhoud van schakel-en verdeelinrichtingen en schakelborden;
  8. Reparatie en het onderhoud van relais en industriële bedieningspanelen;
  9. Reparatie en het onderhoud van elektrische elementen en elektrische batterijen;
  10. Reparatie en het onderhoud van elektrische verlichtingstoestellen;
  11. Reparatie en het onderhoud van bekabelingapparatuur voor elektrische installaties;
  12. Onderhouds-en herstellingswerken van mechanische aard voor rekening van derden;
  13. De installatie van industriële machines in fabrieken of bedrijven;
  14. Het onteren van controle uitrusting voor industriële processen;
  15. Installatie van andere industriële uitrusting zoals:communicatiesystemen,mainframes en gelijkaardige computers,bestralings-en elektro medische uitrusting enz.
  16. Het monteren van molens;
  17. Het uitrusten van machines;
  18. De aanleg van telecommunicatielijnen en-netten en van elektriciteitskabels over lange afstand of in de bebouwde kom;
  19. Aanleg van leidingen voor het vervoer en distributie van elektrische energie;
  20. De bouw van elektriciteitscentrales;
  21. Ontwerpen en plaatsen van buitenreclame:reclameborden en-panelen,lichtkranten en neonreclame,aanbrengen van reclame op bussen,enz;
  22. De projectontwikkeling voor de bouw van civieltechnische werken voor elektriciteit en telecommunicatie;
  23. Installaties en onderhoud van liften en roltrappen;
  24. Installaties en onderhoud van antennes en bliksemafleiders;
  25. De elektrotechnische installaties van:elektrische bedradingen en elektrische apparaten en toestellen,bedradingen voor telecommunicatiedoeleinden,bedradingen voor computersystemen en kabeltelevisie,met inbegrip van optische vezels,schotelantennes,verlichtingssystemen,elektrische zonnecollectoren,elektrische bewakingssystemen,zoals apparatuur voor brandalarm en alarminstallaties tegen diefstal,zonder toezicht op deze systemen
  26. De aansluiting van elektrische apparaten en elektrische huishoudapparaten;
  27. De aansluiting van apparaten met warmtestraling zoals vloerverwarming,wandverwarming,glasverwarming en plafondverwarming,
  28. Het aanbrengen in gebouwen en ander bouwwerken van:thermische isolatiewerken,isolatiemateriaal tegen geluid en trillingen
  29. Aanbrengen van isolatiemateriaal aan verwarmingsleidingen en-buizen en leidingen van koelsystemen;
  30. De isolatie van koelkamers en-pakhuizen;
  31. Het reinigen van nieuwe gebouwen na beëindiging van de bouwwerkzaamheden;afbraakwerkzaamheden
  32. Overige werkzaamheden in verband met de afwerking van gebouwen,zoals schilderwerken,afwerken muren,vloerafwerking en bedekking,schrijnwerkerij en plafonds.e.g.;
  33. Installaties van geblindeerde deuren en brandwerende deuren in hout of kunststof;
  34. Installatie van al dan niet verplaatsbare tussenwanden,de bekleding van wanden,plafonds,enz;in metaal;
  35. Montage van buiten-en binnen schrijnwerk in metaal:deuren,vensters,kozijnen,trappen,muurkasten,inbouwkeukens,winkelinrichtingen,enz.;
  36. Installaties van garagepoorten,luiken,zonneblinden,traliewerk,hekken,enz.,in metaal;
  37. Plaatsen van tussenwanden van gipsplaten;
  38. Leiden van belangrijke herstellingswerkzaamheden aan gebouwen;
  39. Slopen van gebouwen en andere bouwwerken,
  40. De activiteiten van bouwmarkten en andere doe-het-zelfzaken in bouwmaterialen,algemeen assortiment;
  41. Detailhandel in ijzerwaren verf en glas in gespecialiseerde winkels;
  42. De detailhandel in zand,grint,cement,bakstenen,vlakglas,enz.
  43. De detailhandel in overige bouwmaterialen,n.e.g.;
  44. Overige zakelijke dienstverlening;
  45. Het maken van tekstuele verslagen of van stenografische opnamen met betrekking tot beraadslagingen en uitspraken van rechtbanken en het verder uitschrijven van het opgenomen materiaal.
  46. Reparatie en onderhoud van consumentenelektronica zoals:televisie,radio’s,videocassettespelers(VCR),dvd-spelers,cd-spelers,videocamera’s voor huishoudelijk gebruik
  47. De reparatie en het onderhoud van huishoudapparaten en van werktuigen voor gebruik in huis en tuin,zoals:Koelkasten,diepvriezers,kachels en andere verplaatsbare verwarmingstoestellen,(microgolf)ovens,kookplaten,wasmachines,droogkasten,lokale klimaatregelaars,afzuigkappen,enz,Grasmaaiers,graskantmaaiers,sneeuw-en bladblazers,trimmers,hakselaars,enz.;
  48. Reparatie van andere consumentenartikelen.
  49. De vennootschap mag op eender welke wijze belangen nemen in of deelnemen aan het bestuur van verrichtingen,ondernemingen of vennootschappen die een zelfde,gelijkaardig of verwant voorwerp hebben,of die van aard zijn de ontwikkeling van haar bedrijf te bevorderen,haar basisproducten te verschaffen of de afzet van haar producten te vergemakkelijken.
  50. De vennootschap mag investeringen en beleggingen uitvoeren(zoals ondermeer de aankoop,de verhuring en de oprichting van roerende en onroerende goederen),met het oog op het verlonen van haar zaakvoerder(s)in geld en/of in natura.
  51. Bovenvermelde opsomming is niet beperkend,zodat de vennootschap alle handelingen kan stellen van commerciële,industriële,onroerende,roerende en financiële aard,die rechtstreeks of onrechtstreeks met dit voorwerpverwant of verknocht zijn of op welke wijze ook kunnen bijdragen tot de verwezenlijking van haar voorwerp.Hiervoor mag zij investeringen en belegging uitvoeren zoals ondermeer de aankoop,de verhuring en de oprichting van roerende en onroerende goederen.
  52. Zij zal het beschikbare vermogen beheren als goed huisvader.
  53. De vennootschap mag haar voorwerp verwezenlijken zowel in België als in het buitenland op alle wijzen en manieren die zij het best geschikt zou achten.
  54. Onderneming in roerende en onroerende goederen,en het optreden als bouwpromotor in de meest ruime zin;alle bemiddeling,dienstverlening en service bij verrichtingen van roerende en onroerende aard;leasing,financieringen en leningen;verwerven,bouwen,ruilen,laten bouwen,verbouwen,in huur geven of nemen,onderhuren of-verhuren,verkopen en omvormen,verkavelen en uitbaten,beheren van alle onroerende goederen in de breedste zin,zoals appartementen,kantoren,winkels,woningen,studentenhomes,gronden,wouden,waters en domeinen.
  55. De vennootschap zal ook werken uitvoeren voor de overheid klasse 1 en klasse 2
  56. Bovenvermelde opsommingen is niet beperkend,zodat de vennootschap alle handelingen kan stellen van commerciële,industriële,onroerende,roerende en financiële aard,die rechtstreeks met dit voorwerp verwant of verknocht zijn of op welke wijze ook kunnen bijdragen tot de verwezenlijking van haar voorwerp.Hiervoor mag zij investeringen en beleggingen uitvoeren zoals ondermeer de aankoop,de verhuring en de oprichting van roerende en onroerende goederen.
deed of 17-10-2022 (in Dutch)

Invoicing and payment

VAT number BE 0720.972.789
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0720972789
Other Peppol ID 9925:BE0720972789
Registered 06-06-2025

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 1 November 2026 · Peppol Directory

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0720.972.789

Financial year and general meeting

Accounts at the NBB
Financial year end 31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Tuesday of June at 09:00
deed of 17-10-2022 (in Dutch)

Recognitions · licences · registrations

Recognised contractor

1 category
BORGOO BART BVapproval number 44591
  • L1 Pipework installationsclass 2, up to €330,000
decision 06-02-2025

Dual-learning approval

4 ended
Monteur sanitaire en verwarmingsinstallaties duaal (so)
ended · 2021 to 2026
Sanitair installateur (so)
discontinued · 2021 to 2025
Elektrische installaties duaal (so)
ended · 2019 to 2024
Elektrotechnisch installateur (vwo)
ended · 2019 to 2024

Sites & property

Location
registered office establishment approximate The establishment unit on the map
4 companies at this address See who is registered here

Buildings and parcels at the addresses

Ground area
4.9 ha
Building footprint
1.2 ha
Building volume
98,690 m³
Tallest building: 11.3 m.
Cadastral parcel Region Area Buildings Height / floors
35382G0267/00T000 Flanders 4.9 ha 1 · 1.2 ha 11.3 m · 3
31012C0514/00Y003 Flanders 616 m² 1 · 146 m² 6.8 m · 2

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