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BOTALYS

Active
Public limited companyfounded 201115 yrs activeAvenue des Artisans(GHI) 8, 7822 Ath, BelgiumKBO/BCE: BE 0834.134.177
Summary

The annual accounts of BOTALYS for fiscal year 2025 show a net loss of 68% of the equity at the start of that year. The 2025 annual accounts show equity of €4.9m and a net result of -€2.9m. Equity is growing by ~23% per year across the filed fiscal years. Its solvency ranks better than 61% of 217 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).

Risk analysisWatch ReportCompare
BOTALYSActiveChecked score 55/100
Risk analysis ReportCompare

Overview

Activity
Research and development on biotechnology
NACE 72101Crop and animal production, hunting and related service activities NACE 01280NACE 72110
#3 company by equity in Ath, Professional and technical services sector1 site
Size
€7.4mtotal assets 2025
Staff
16.8 FTE
Equity
€4.9m
Loss
-€2.9m
Financial health
55 Fair Checked score 2025
Bankruptcy chance 12 m
0.6%
Structure
Largest shareholder
Wallonie Entreprendre · 15.55%
Board
13 members
Holdings
1
Auditor: CDP Partners - De Wulf & C° srlAccounts 31 d early
Why 55Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year- Loss of €2.9m, the second in a row (FY 2025)- 1 of the last 3 late- Liquidity: current ratio 1.95, cash €371,837, halved+ Equity €4.9m (66.4% of total assets)Show the evidence

Checked score

Score 2025
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 49% of its sector peers (NACE 72, small)
Performance against the sector, not lower risk
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 91+24
equity 66.4% of total assets
Liquidity 53-29
short-term debt 14.9% · cash 5.0%
Profitability 0=
return on assets -38.8%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (168 companies)
Last 24 months 11-2024: 0.1%lowest value 12-2024: 0.1%● 0.0% vs 11-2024lowest value 01-2025: 0.1%● 0.0% vs 12-2024lowest value 02-2025: 0.1%● 0.0% vs 01-2025lowest value 03-2025: 0.1%▲ +1.5% vs 02-2025 04-2025: 0.2%▲ +14.6% vs 03-2025 05-2025: 0.2%▲ +4.5% vs 04-2025 06-2025: 0.2%▲ +11.6% vs 05-2025 07-2025: 0.2%▲ +12.6% vs 06-2025 08-2025: 0.3%▲ +44.7% vs 07-2025 09-2025: 0.3%▲ +4.0% vs 08-2025 10-2025: 0.3%▼ -13.5% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%▼ -0.7% vs 12-2025 02-2026: 0.3%● 0.0% vs 01-2026 03-2026: 0.3%▼ -0.4% vs 02-2026 04-2026: 0.3%▲ +5.3% vs 03-2026 05-2026: 0.3%▲ +2.9% vs 04-2026 06-2026: 0.3%▲ +14.3% vs 05-2026 07-2026: 0.6%▲ +94.8% vs 06-2026highest value 08-2026: 0.6%▼ -0.6% vs 07-2026 09-2026: 0.6%● 0.0% vs 08-2026 10-2026: 0.6%▼ -4.6% vs 09-2026
  • Loss of €2.9m, the second in a row (FY 2025) raises the probability
  • Equity €4.9m (66.4% of total assets) lowers the probability
  • 1 of the last 3 late raises the probability
  • Liquidity: current ratio 1.95, cash €371,837, halved raises the probability
Credit up to €260,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.95 against 4.42 in 2024; short-term debt: 14.9% and cash: 5% of total assets), and 33.6% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 72, small). Better than this share of them on solvency 65%, liquidity 49%, profitability 12%, growth against the median 69%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €2.9m, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Equity €4.9m (66.4% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Liquidity: current ratio 1.95, cash €371,837, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
31 d early
2024
33 d late
2023
34 d early
2022
67 d early
2021
23 d early
2020
19 d late
2019
21 d late
← 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 12 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% 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 30 June (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 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
  1. Annual accounts filedfiscal year 2025 · full…
  2. Resignation: Stéphane Ducroux (director)State Gazette act
  3. Capital & shares · Statutes amendmentCapital increase · Contribution in…

Key points

  • Risk: 8 loss-making years in a rowloss fiscal year 2025 -€2.9m View
  • Caution: Among the weakest 12% on net resultsector median €5,022 · 216 companies -€2.9m View
  • Caution: Staff fell in 2025from 24 FTE to 16.8 FTE ▼ 30.0% View
  • EU research moneyEU contribution €2.3m View

By topic

Financials

Fiscal year
2025
Total assets
€7.4m
Loss
-€2.9m
Solvency
66.4%
Total assets▼ 26.6%
Net result
20182025
Go to Financials

Board & ownership

Board
13 members
Largest shareholder
Wallonie Entreprendre · 15.55%
Auditor
CDP Partners - De…
Go to Board & ownership

Timeline

Events
38
Since
2011
Next accounts
by 31-07-2027
  1. 30-06-2026Annual accounts filed
  2. 26-11-2025Resignation: Stéphane Ducroux (director)
  3. 21-11-2025Capital & shares · Statutes amendment
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Research and development on biotechnologyNACE 72101
Founded
01-03-2011
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
1
Purpose
La société a pour objet à titre principal ou accessoire, tant pour son compte propre que…
Go to Articles of association

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies

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