BOUCHARD
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 81 days after the deadline Filed on 20 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00564214.
Annual accounts 2025 filed on 20-10-2026 at the NBB all 36 filings
Turnover
€45.5m▲ 127%
2024 · €20.1m
EBIT margin
21.5%▲ 15.0pp
2024 · 6.4%
Net result
€9.0m▲ 629%
2024 · €1.2m
Working capital
€11.8m▲ 310%
2024 · €2.9m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€45.5m
▲ 127%
2025
20182025
Operating result
€9.8m
▲ 655%
2025
20182025
Net result
€9.0m
▲ 629%
2025
highest quarter of the sector
20182025
EBIT margin
21.5%
▲ 15.0pp
2025
20182025
Equity
€14.0m
▲ 177%
2025
highest quarter of the sector
20182025
Total assets
€27.4m
▲ 149%
2025
highest quarter of the sector
20182025
Debt
€13.4m
▲ 125%
2025
20182025
Working capital
€11.8m
▲ 310%
2025
highest quarter of the sector
20182025
Solvency
51.2%
▲ 5.2pp
2025
middle half of the sector
20182025
Current ratio
1.96
▲ 0.44
2025
middle half of the sector
20182025
Return on assets (ROA)
32.7%
▲ 21.5pp
2025
highest quarter of the sector
20182025
Staff (FTE)
39.2
▼ 7.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€10.5m-€10.2m▼ 2.7%€9.6m▼ 6.3%€11.8m▲ 23.5%€14.9m▲ 25.7%€23.4m▲ 57.0%€20.1m▼ 14.0%€45.5m▲ 127%
Operating result-€1.7m--€0.6m▲ 64.3%€0.5m€1.3m▲ 145%€1.1m▼ 10.6%€1.9m▲ 72.1%€1.3m▼ 33.5%€9.8m▲ 655%
Net result-€1.7m--€0.7m▲ 58.4%€0.4mwithin the sector's middle half€1.2mabove the sector's middle half▲ 202%€1.0mabove the sector's middle half▼ 17.4%€1.6mabove the sector's middle half▲ 57.6%€1.2mabove the sector's middle half▼ 22.7%€9.0mabove the sector's middle half▲ 629%
EBIT margin-15.8%--5.8%▲ 10.0pp5.4%▲ 11.2pp10.7%▲ 5.3pp7.6%▼ 3.1pp8.3%▲ 0.7pp6.4%▼ 1.9pp21.5%▲ 15.0pp
Equity€0.3m--€0.4m€0.005mbelow the sector's middle half€1.2mwithin the sector's middle half▲ 265×€2.2mwithin the sector's middle half▲ 82.3%€3.8mwithin the sector's middle half▲ 71.1%€5.0mwithin the sector's middle half▲ 32.1%€14.0mabove the sector's middle half▲ 177%
Total assets€6.2m-€5.6m▼ 10.4%€6.4mwithin the sector's middle half▲ 13.6%€6.4mwithin the sector's middle half▲ 1.3%€7.6mwithin the sector's middle half▲ 18.3%€11.9mwithin the sector's middle half▲ 56.5%€11.0mwithin the sector's middle half▼ 8.0%€27.4mabove the sector's middle half▲ 149%
Debt€5.9m-€6.0m▲ 1.4%€6.3m▲ 5.9%€5.2m▼ 17.8%€4.9m▼ 6.2%€7.1m▲ 45.5%€5.9m▼ 16.6%€13.4m▲ 125%
Working capital-€1.2m--€1.1m▲ 6.6%-€0.6mbelow the sector's middle half▲ 46.3%€0.8mwithin the sector's middle half€2.0mwithin the sector's middle half▲ 155%€3.5mabove the sector's middle half▲ 70.9%€2.9mwithin the sector's middle half▼ 17.0%€11.8mabove the sector's middle half▲ 310%
Solvency5.0%--7.1%▼ 12.2pp0.1%below the sector's middle half▲ 7.2pp19.0%below the sector's middle half▲ 18.9pp29.3%within the sector's middle half▲ 10.3pp32.0%within the sector's middle half▲ 2.7pp46.0%within the sector's middle half▲ 14.0pp51.2%within the sector's middle half▲ 5.2pp
Current ratio0.80-0.81▲ 0.010.91below the sector's middle half▲ 0.101.15within the sector's middle half▲ 0.251.42within the sector's middle half▲ 0.271.54within the sector's middle half▲ 0.121.52within the sector's middle half▼ 0.021.96within the sector's middle half▲ 0.44
Return on assets (ROA)-27.5%--12.8%▲ 14.7pp6.4%within the sector's middle half▲ 19.1pp18.9%above the sector's middle half▲ 12.6pp13.2%above the sector's middle half▼ 5.7pp13.3%above the sector's middle half▲ 0.1pp11.2%above the sector's middle half▼ 2.1pp32.7%above the sector's middle half▲ 21.5pp
Staff (FTE)33.4-34.3▲ 2.7%33.9within the sector's middle half▼ 1.2%33.6within the sector's middle half▼ 0.9%35.1within the sector's middle half▲ 4.5%37.4within the sector's middle half▲ 6.6%42.5within the sector's middle half▲ 13.6%39.2within the sector's middle half▼ 7.8%
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 operating result for 2025 is nearly 7.6 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.4m
Fixed assets
€3.2m ▲ 25.8%
Current assets
€24.1m ▲ 187%
Equity and liabilities €27.4m
Equity
€14.0m ▲ 177%
Provisions
€8,669 =
Debt
€13.4m ▲ 125%
Debt's share of the balance-sheet total falls from 54.0% to 48.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€10.3m▲
2024 · €1.7m
Cash flow
€9.5m▲
2024 · €1.6m
Quick ratio
1.50▲
2024 · 0.95
Debt to equity
0.95▼
2024 · 1.17
ROE
63.9%▲
2024 · 24.3%
Interest coverage
over 100▲
2024 · 28.67
Debt ≤ 1 year
€12.3m▲
2024 · €5.5m
Debt > 1 year
€1.0m▲
2024 · €330,356
Income taxes
€695,282▲
2024 · €125,229
Customer credit
119 days▲
2024 · 65 days
Supplier credit
129 days▼
2024 · 171 days
Staff costs
€2.5m▼
2024 · €2.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 34 | 35 | 44 | 44 | 38 |
| full-time | 33 | 33 | 41 | 41 | 36 |
| part-time | 1 | 2 | 3 | 3 | 2 |
| in full-time equivalents | 33.8 | 34.3 | 43 | 43 | 37.4 |
| Average over the year, in full-time equivalents | 33.6 | 35.1 | 37.4 | 42.5 | 39.2 |
| On a permanent contract | 33 | 32 | 43 | 44 | 38 |
| Joined | 1 | 6 | 10 | 6 | 8 |
| Left | 1 | 5 | 1 | 5 | 14 |
| Agency workers, average number | 4.5 | 4.1 | 7.4 | 0.9 | 6 |
| Training hours | 197 | 585 | 288 | 293 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | - | €62,544 | €0 | €0 | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €1.1m | €436,525 | €1.3m |
| Pledge on the business | €1.4m | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €113,640 | €519,015 | €1.6m | €1.1m | €1.2m |
| Intangible fixed assets | - | - | €7,589 | - | €3,647 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €264,300 | €214,312 | €250,976 | €370,506 | €537,803 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is VGD Bedrijfsrevisoren.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €13,600 | €14,376 | €15,864 | €16,000 | €16,506 |
| Other work by the auditor | €4,267 | €128 | - | €3,634 | €3,754 |
| Work by persons linked to the auditor | - | - | €2,011 | €442 | €442 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 7 entries · €9,603 awarded · €8,615 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,930 | €1,498 |
| 2024 | 2 | €1,361 | €1,361 |
| 2023 | 2 | €3,112 | €3,112 |
| 2022 | 2 | €3,200 | €2,644 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €12.3m | €15.0m | €24.8m | €20.4m | €49.1m | ▲ 141% |
| Turnover70 | €10.5m | €10.2m | €9.6m | €11.8m | €14.9m | €23.4m | €20.1m | €45.5m | ▲ 127% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €0.2m | -€0.2m | €1.2m | -€0.09m | €3.3m | - |
| Other operating income74 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 17.3% |
| Non-recurring operating income76A | - | - | - | €0.1m | €0.002m | €0.02m | €0.1m | €0 | ▼ 100% |
| Operating charges60/66A | - | - | - | €11.1m | €13.9m | €22.9m | €19.1m | €39.3m | ▲ 106% |
| Goods for resale, raw materials and consumables60 | - | - | - | €5.6m | €6.1m | €13.5m | €10.8m | €31.6m | ▲ 193% |
| Purchases600/8 | - | - | - | €5.7m | €6.7m | €13.4m | €11.6m | €30.7m | ▲ 165% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.1m | -€0.6m | €0.08m | -€0.8m | €1.0m | - |
| Services and other goods61 | - | - | - | €3.2m | €4.6m | €5.6m | €5.5m | €4.2m | ▼ 22.8% |
| Remuneration, social security and pensions62 | - | - | - | €1.8m | €2.0m | €2.4m | €2.8m | €2.5m | ▼ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.6m | €0.4m | €0.3m | €0.2m | €0.3m | €0.4m | €0.5m | ▲ 45.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.03m | €0.05m | €0.03m | €0.1m | -€0.09m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.01m | €0.5m | €0.5m | -€1.0m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | ▼ 15.8% |
| Non-recurring operating charges66A | - | - | - | - | €6 | €0.3m | €38 | €0 | ▼ 100% |
| Operating profit (loss)9901 | -€1.7m | -€0.6m | €0.5m | €1.3m | €1.1m | €1.9m | €1.3m | €9.8m | ▲ 655% |
| Financial income75/76B | - | - | - | €0.07m | €0.1m | €0.07m | €0.3m | €0.2m | ▼ 31.6% |
| Recurring financial income75 | €0.04m | €0.03m | €0.05m | €0.07m | €0.1m | €0.07m | €0.3m | €0.2m | ▼ 31.6% |
| Income from current assets751 | - | - | - | - | - | - | €0.02m | €0.02m | ▼ 1.0% |
| Other financial income752/9 | - | - | - | €0.07m | €0.1m | €0.07m | €0.3m | €0.2m | ▼ 34.4% |
| Non-recurring financial income76B | - | - | - | €405 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 46.0% |
| Recurring financial charges65 | €0.1m | €0.2m | €0.2m | €0.1m | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 46.0% |
| Debt charges650 | €0.05m | €0.06m | €0.04m | €0.04m | €0.03m | €0.06m | €0.06m | €0.06m | ▲ 10.6% |
| Other financial charges652/9 | - | - | - | €0.06m | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 58.9% |
| Non-recurring financial charges66B | - | - | - | €4 | €347 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1.7m | -€0.7m | €0.4m | €1.2m | €1.0m | €1.7m | €1.4m | €9.6m | ▲ 613% |
| Income taxes67/77 | - | - | - | €0.02m | €0.004m | €0.07m | €0.1m | €0.7m | ▲ 455% |
| Taxes670/3 | - | - | - | €0.02m | €0.004m | €0.07m | €0.1m | €0.7m | ▲ 455% |
| Profit (loss) for the period9904 | -€1.7m | -€0.7m | €0.4m | €1.2m | €1.0m | €1.6m | €1.2m | €9.0m | ▲ 629% |
| Profit (loss) for the period to be appropriated9905 | -€1.7m | -€0.7m | €0.4m | €1.2m | €1.0m | €1.6m | €1.2m | €9.0m | ▲ 629% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €6.2m | €5.6m | €6.4m | €6.4m | €7.6m | €11.9m | €11.0m | €27.4m | ▲ 149% |
| Fixed assets21/28 | €1.6m | €0.9m | €0.6m | €0.5m | €0.8m | €2.1m | €2.6m | €3.2m | ▲ 25.8% |
| Intangible fixed assets21 | €0.5m | €0.2m | €40 | €7 | €7 | €0.006m | €0.004m | €0.005m | ▲ 24.0% |
| Tangible fixed assets22/27 | €1.0m | €0.7m | €0.6m | €0.4m | €0.7m | €2.0m | €2.5m | €3.2m | ▲ 26.4% |
| Land and buildings22 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 21.4% |
| Plant, machinery and equipment23 | - | - | - | €0.4m | €0.2m | €0.8m | €1.4m | €1.3m | ▼ 3.1% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.04m | €0.04m | €0.06m | €0.04m | ▼ 30.1% |
| Leasing and similar rights25 | - | - | - | - | - | - | €0.5m | €1.7m | ▲ 220% |
| Assets under construction and advance payments27 | - | - | - | - | €0.3m | €1.0m | €0.4m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.08m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▲ 3.0% |
| Other financial fixed assets284/8 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▲ 3.0% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▲ 3.0% |
| Current assets29/58 | €4.7m | €4.7m | €5.7m | €6.0m | €6.8m | €9.9m | €8.4m | €24.1m | ▲ 187% |
| Stocks and contracts in progress3 | €1.2m | €0.7m | €0.8m | €1.1m | €1.4m | €2.6m | €3.2m | €5.6m | ▲ 77.6% |
| Stocks30/36 | - | - | - | €1.1m | €1.4m | €2.6m | €3.2m | €5.6m | ▲ 77.6% |
| Raw materials and consumables30/31 | - | - | - | €0.4m | €1.0m | €0.9m | €0.7m | €1.3m | ▲ 68.6% |
| Work in progress32 | - | - | - | €0.1m | €0.1m | €0.3m | €0.6m | €3.4m | ▲ 452% |
| Finished goods33 | - | - | - | €0.6m | €0.3m | €1.3m | €0.3m | €0.9m | ▲ 170% |
| Goods purchased for resale34 | - | - | - | €0.02m | €0.002m | €0.04m | €1.4m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €3.0m | €3.4m | €4.2m | €3.4m | €4.3m | €6.5m | €3.9m | €15.2m | ▲ 293% |
| Trade receivables40 | - | - | - | €3.3m | €4.0m | €6.3m | €3.6m | €14.9m | ▲ 317% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 13.5% |
| Current investments50/53 | - | - | - | - | - | - | €0.6m | €2.9m | ▲ 384% |
| Other investments51/53 | - | - | - | - | - | - | €0.6m | €2.9m | ▲ 384% |
| Cash at bank and in hand54/58 | €0.4m | €0.5m | €0.7m | €1.4m | €1.1m | €0.6m | €0.7m | €0.3m | ▼ 50.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.04m | €0.2m | €0.1m | €0.1m | ▼ 12.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €6.2m | €5.6m | €6.4m | €6.4m | €7.6m | €11.9m | €11.0m | €27.4m | ▲ 149% |
| Equity10/15 | €0.3m | -€0.4m | €0.005m | €1.2m | €2.2m | €3.8m | €5.0m | €14.0m | ▲ 177% |
| Contributions10/11 | €1.7m | €1.7m | €1.7m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Legal reserve130 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | -€1.8m | -€2.5m | -€2.1m | -€0.2m | €0.8m | €2.4m | €3.6m | €12.6m | ▲ 248% |
| Provisions and deferred taxes16 | €0.04m | €0.02m | €0.03m | €0.02m | €0.5m | €1.0m | €0.009m | €0.009m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.02m | €0.5m | €1.0m | €0.009m | €0.009m | = |
| Pensions and similar obligations160 | - | - | - | €0.02m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Other liabilities and charges164/5 | - | - | - | - | €0.5m | €1.0m | €0 | - | - |
| Amounts payable17/49 | €5.9m | €6.0m | €6.3m | €5.2m | €4.9m | €7.1m | €5.9m | €13.4m | ▲ 125% |
| Amounts payable after more than one year17 | - | - | - | - | - | €0.6m | €0.3m | €1.0m | ▲ 206% |
| Financial debts170/4 | - | - | - | - | - | €0.6m | €0.3m | €1.0m | ▲ 206% |
| Leasing and similar obligations172 | - | - | - | - | - | €0.6m | €0.3m | €1.0m | ▲ 206% |
| Amounts payable within one year42/48 | €5.9m | €5.8m | €6.3m | €5.2m | €4.8m | €6.4m | €5.5m | €12.3m | ▲ 123% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.1m | €0.1m | €0.3m | ▲ 207% |
| Financial debts43 | - | - | - | - | - | €0.4m | €0 | €0.002m | - |
| Credit institutions430/8 | - | - | - | - | - | €0.4m | €0 | €0.002m | - |
| Trade debts44 | €3.3m | €2.5m | €3.5m | €3.5m | €3.1m | €5.3m | €5.1m | €11.2m | ▲ 120% |
| Suppliers440/4 | - | - | - | €3.5m | €3.1m | €5.3m | €5.1m | €11.2m | ▲ 120% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | €0.6m | €0.3m | €0.8m | ▲ 133% |
| Taxes450/3 | - | - | - | €0.07m | €0.05m | €0.3m | €0.1m | €0.7m | ▲ 568% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 46.5% |
| Other amounts payable47/48 | - | - | - | €1.5m | €1.5m | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.07m | €0.1m | €0.07m | €0.04m | ▼ 40.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.7m | -€0.7m | €0.4m | €1.2m | €1.0m | €1.6m | €1.2m | €9.0m | ▲ 629% |
| + Depreciation and write-downs630 | €0.6m | €0.6m | €0.4m | €0.3m | €0.2m | €0.3m | €0.4m | €0.5m | ▲ 45.2% |
| Operating cash flow (approximation) | -€1.1m | -€0.2m | €0.8m | €1.5m | €1.2m | €1.8m | €1.6m | €9.5m | ▲ 494% |
| Investment in fixed assets (approximation) | - | €0.1m | -€0.2m | -€0.1m | -€0.5m | -€1.5m | -€0.9m | -€1.2m | ▼ 37.5% |
| Change in cash | - | €0.1m | €0.1m | €0.7m | -€0.3m | -€0.5m | €0.08m | -€0.3m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as BOUCHARD has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of BOUCHARD itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 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.
| 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 20,136 companies, not a prediction for BOUCHARD. 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.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 20-10-2026 | 2026-00564214 | |
| 31-12-2024 | full format | 12-09-2025 | 2025-00489884 | |
| 31-12-2023 | full format | 29-10-2024 | 2024-00521270 | |
| 31-12-2022 | full format | 11-08-2023 | 2023-00328102 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20367606 | |
| 31-12-2020 | full format | 02-08-2021 | 2021-46400054 | |
| 31-12-2019 | full format | 17-07-2020 | 2020-31300040 | |
| 31-12-2018 | full format | 08-08-2019 | 2019-44700161 | |
| 31-12-2017 | full format | 10-09-2018 | 2018-62500284 | |
| 31-12-2016 | full format | 04-07-2017 | 2017-29500554 |