BORMS-DECOR
ActiveSummary
BORMS-DECOR has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €36k and a net result of €7k. Equity is growing by ~14.7% per year across the filed fiscal years. Its solvency ranks better than 27% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability75▼-1
Solvency50▼-18
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.46 in 2023; short-term debt: 74.7% and cash: 26.4% of total assets), and 74.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
25.3%
Return on assets
5.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-06-2025, 54 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
54 d early
2023
37 d early
2022
51 d early
2021
11 d early
2020
35 d early
2019
44 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€36k▼ 54.0%
2023 · €79k
2018: €8klowest in 7 years
2019: €37k▲ +331% vs 2018
2020: €63k▲ +72.1% vs 2019
2021: €64k▲ +1.9% vs 2020
2022: €69k▲ +7.0% vs 2021
2023: €79k▲ +14.7% vs 2022highest in 7 years
2024: €36k▼ -54.0% vs 2023
2018 → 2024
Total assets
€144k▼ 22.1%
2023 · €184k
2018: €78klowest in 7 years
2019: €165k▲ +111% vs 2018
2020: €108k▼ -34.7% vs 2019
2021: €168k▲ +56.4% vs 2020
2022: €196k▲ +16.5% vs 2021highest in 7 years
2023: €184k▼ -6.0% vs 2022
2024: €144k▼ -22.1% vs 2023
2018 → 2024
Net result
€7k▼ 27.1%
2023 · €10k
2018: €14k
2019: €28k▲ +103% vs 2018highest in 7 years
2020: €26k▼ -6.1% vs 2019
2021: €1k▼ -95.5% vs 2020lowest in 7 years
2022: €4k▲ +275% vs 2021
2023: €10k▲ +125% vs 2022
2024: €7k▼ -27.1% vs 2023
2018 → 2024
Working capital
€6k▼ 86.8%
2023 · €48k
2018: €1k
2019: €-30k▼ -2373% vs 2018lowest in 7 years
2020: €-1k▲ +96.7% vs 2019
2021: €-2k▼ -68.3% vs 2020
2022: €20k▲ +1304% vs 2021
2023: €48k▲ +135% vs 2022highest in 7 years
2024: €6k▼ -86.8% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€63k-€64k▲ 1.9%€69k▲ 7.0%€79k▲ 14.7%€36k▼ 54.0%
2020: €63k
2021: €64k▲ +1.9% vs 2020
2022: €69k▲ +7.0% vs 2021
2023: €79k▲ +14.7% vs 2022highest in 5 years
2024: €36k▼ -54.0% vs 2023lowest in 5 years
Operating result€33k-€2k▼ 94.0%€9k▲ 344%€16k▲ 85.4%€12k▼ 25.1%
2020: €33khighest in 5 years
2021: €2k▼ -94.0% vs 2020lowest in 5 years
2022: €9k▲ +344% vs 2021
2023: €16k▲ +85.4% vs 2022
2024: €12k▼ -25.1% vs 2023
Net result€26k-€1k▼ 95.5%€4k▲ 275%€10k▲ 125%€7k▼ 27.1%
2020: €26khighest in 5 years
2021: €1k▼ -95.5% vs 2020lowest in 5 years
2022: €4k▲ +275% vs 2021
2023: €10k▲ +125% vs 2022
2024: €7k▼ -27.1% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 25% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €144k
Fixed assets
€30k ▼ 2.6%
Current assets
€114k ▼ 26.0%
Equity and liabilities €144k
Equity
€36k ▼ 54.0%
Debt
€107k ▲ 1.7%
Debt's share of the balance-sheet total rises from 57.2% to 74.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€37k▼
2023 · €37k
Cash flow
€32k▲
2023 · €31k
Current ratio
1.06▼
2023 · 1.46
Quick ratio
0.88▼
2023 · 1.36
Debt to equity
2.95▲
2023 · 1.34
ROE
20.3%▲
2023 · 12.8%
ROA
5.1%▼
2023 · 5.5%
Interest coverage
8.18▼
2023 · 8.48
Debt ≤ 1 year
€107k▲
2023 · €106k
Income taxes
€3k▼
2023 · €4k
Staff costs
€237k▲
2023 · €150k
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 · 2024 against 2023 · 45 lines
Balance sheet
Code20232024
Assets
Total assets20/58€184k€144k▼
Fixed assets21/28€31k€30k▼
Tangible fixed assets22/27€30k€29k▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€26k€27k▲
Financial fixed assets28€600€600=
Current assets29/58€154k€114k▼
Stocks and contracts in progress3€10k€20k▲
Stocks30/36€10k€20k▲
Amounts receivable within one year40/41€31k€49k▲
Trade receivables40€20k€41k▲
Other amounts receivable41€11k€9k▼
Cash at bank and in hand54/58€105k€38k▼
Deferred charges and accrued income490/1€7k€7k▼
Equity and liabilities
Total equity and liabilities10/49€184k€144k▼
Equity10/15€79k€36k▼
Contributions10/11€50k-
Reserves13€42k€49k▲
Distributable reserves133€42k€49k▲
Profit (loss) carried forward14€-13k€-13k▲
Amounts payable17/49€106k€107k▲
Amounts payable within one year42/48€106k€107k▲
Current portion of amounts payable after more than one year42€20k-
Trade debts44€16k€11k▼
Suppliers440/4€16k€11k▼
Taxes, remuneration and social security45€2k€2k▲
Taxes450/3€2k€2k▲
Other amounts payable47/48€68k€94k▲
Income statement
Code20232024
Remuneration, social security and pensions62€150k€237k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€25k▲
Other operating charges640/8€762€635▼
Gross operating margin9900€188k€275k▲
Operating profit (loss)9901€16k€12k▼
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€15k€10k▼
Income taxes67/77€4k€3k▼
Profit (loss) for the period9904€10k€7k▼
Profit (loss) for the period to be appropriated9905€10k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€-6k▼
Profit (loss) brought forward from the previous period14P€-13k€-13k▲
Transfer to equity691/2€10k€7k▼
To other reserves6921€10k€7k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €113k | €132k | €150k | €237k | ▲ 58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €20k | €21k | €21k | €25k | ▲ 17.9% |
| Other operating charges640/8 | - | €364 | €558 | €762 | €635 | ▼ 16.8% |
| Gross operating margin9900 | €149k | €135k | €162k | €188k | €275k | ▲ 46.5% |
| Operating profit (loss)9901 | €33k | €2k | €9k | €16k | €12k | ▼ 25.1% |
| Financial income75/76B | - | €2k | €2k | €3k | €2k | ▼ 2.9% |
| Recurring financial income75 | €1k | €2k | €2k | €3k | €2k | ▼ 2.9% |
| Financial charges65/66B | - | €2k | €5k | €4k | €5k | ▲ 2.6% |
| Recurring financial charges65 | €2k | €2k | €5k | €4k | €5k | ▲ 2.6% |
| Profit (loss) for the period before taxes9903 | €33k | €2k | €6k | €15k | €10k | ▼ 29.6% |
| Income taxes67/77 | €6k | €752 | €1k | €4k | €3k | ▼ 35.5% |
| Profit (loss) for the period9904 | €26k | €1k | €4k | €10k | €7k | ▼ 27.1% |
| Profit (loss) for the period to be appropriated9905 | €26k | €1k | €4k | €10k | €7k | ▼ 27.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €108k | €168k | €196k | €184k | €144k | ▼ 22.1% |
| Fixed assets21/28 | €66k | €66k | €48k | €31k | €30k | ▼ 2.6% |
| Tangible fixed assets22/27 | €65k | €65k | €48k | €30k | €29k | ▼ 2.6% |
| Plant, machinery and equipment23 | - | €986 | €3k | €4k | €2k | ▼ 33.9% |
| Furniture and vehicles24 | - | €64k | €44k | €26k | €27k | ▲ 1.7% |
| Financial fixed assets28 | €600 | €600 | €600 | €600 | €600 | = |
| Current assets29/58 | €42k | €102k | €148k | €154k | €114k | ▼ 26.0% |
| Stocks and contracts in progress3 | €9k | €25k | €25k | €10k | €20k | ▲ 90.8% |
| Stocks30/36 | - | €15k | €15k | €10k | €20k | ▲ 90.8% |
| Contracts in progress37 | - | €10k | €10k | - | - | - |
| Amounts receivable within one year40/41 | €8k | €56k | €49k | €31k | €49k | ▲ 58.2% |
| Trade receivables40 | - | €43k | €36k | €20k | €41k | ▲ 103% |
| Other amounts receivable41 | - | €13k | €13k | €11k | €9k | ▼ 20.7% |
| Cash at bank and in hand54/58 | €17k | €17k | €60k | €105k | €38k | ▼ 64.0% |
| Deferred charges and accrued income490/1 | - | €5k | €14k | €7k | €7k | ▼ 3.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €108k | €168k | €196k | €184k | €144k | ▼ 22.1% |
| Equity10/15 | €63k | €64k | €69k | €79k | €36k | ▼ 54.0% |
| Contributions10/11 | - | €50k | €50k | €50k | - | - |
| Reserves13 | €29k | €31k | €35k | €42k | €49k | ▲ 17.3% |
| Non-distributable reserves130/1 | - | €3k | €3k | - | - | - |
| Reserves not available under the articles1311 | - | €3k | €3k | - | - | - |
| Distributable reserves133 | - | €28k | €32k | €42k | €49k | ▲ 17.3% |
| Profit (loss) carried forward14 | €-16k | €-16k | €-16k | €-13k | €-13k | ▲ 0.7% |
| Amounts payable17/49 | €45k | €104k | €127k | €106k | €107k | ▲ 1.7% |
| Amounts payable after more than one year17 | €2k | - | - | - | - | - |
| Amounts payable within one year42/48 | €43k | €104k | €127k | €106k | €107k | ▲ 1.7% |
| Current portion of amounts payable after more than one year42 | - | €21k | €20k | €20k | - | - |
| Trade debts44 | €10k | €7k | €26k | €16k | €11k | ▼ 30.0% |
| Suppliers440/4 | - | €7k | €26k | €16k | €11k | ▼ 30.0% |
| Taxes, remuneration and social security45 | - | €1k | €1k | €2k | €2k | ▲ 16.0% |
| Taxes450/3 | - | €1k | €1k | €2k | €2k | ▲ 16.0% |
| Other amounts payable47/48 | - | €75k | €80k | €68k | €94k | ▲ 38.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26k | €1k | €4k | €10k | €7k | ▼ 27.1% |
| + Depreciation and write-downs630 | €15k | €20k | €21k | €21k | €25k | ▲ 17.9% |
| Operating cash flow (approximation) | €41k | €21k | €25k | €31k | €32k | ▲ 3.3% |
| Investment in fixed assets (approximation) | - | €-20k | €-3k | €-3k | €-24k | ▼ 597% |
| Change in cash | - | €-453 | €43k | €45k | €-67k | ▼ 248% |
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
2025
07-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €1k ▼95.5%
Net result drops to €1k, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €28k ▲103%
Operating result €43k, net result €28k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Koksijde · 1 establishment unit since 2007
Ground area
754 m²
Building footprint
118 m²
Volume, LiDAR
1,202 m³
Parcel 38342H0507/00A000, Flanders · tallest building 12.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Borms - Decor
since 20072.163.928.359
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38342H0507/00A000 | Flanders | 754 m² | 1 · 118 m² | 12.6 m · 4 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 467 EUR awarded · 467 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 408 EUR | 408 EUR |
| 2024 | 1 | 59 EUR | 59 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Dual-learning approval
4 endedDecoratie en schilderwerken duaal (so)
Medewerker schilder- en behangwerken duaal (so)
Schilder-decorateur (so)
Schilder-decorateur (vwo)
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Of 7,863 companies in sector 43341 we hold annual accounts for 2,663. 2,267 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
Founded06-07-2007
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
43333Wallpapering and laying of floor and wall coverings in other materials
43350Other building finishing work
Contact
Scores and ratios are computed by Checked and are not a credit decision.