Boulinier
ActiveSummary
Boulinier has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.67M and a net result of €-64k. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 73% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▼-16
Solvency87▼-2
Growth32▼-46
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 54.41 against 56.71 in 2024; short-term debt: 0.8% and cash: 6.3% of total assets), and 37.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
62.1%
Return on assets
-1.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
18 d late
2024
57 d late
2023
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€2.67M▼ 2.3%
2024 · €2.74M
2023: €2.70M
2024: €2.74M▲ +1.4% vs 2023highest in 3 years
2025: €2.67M▼ -2.3% vs 2024lowest in 3 years
2023 → 2025
Total assets
€4.30M▲ 0.6%
2024 · €4.28M
2023: €3.66Mlowest in 3 years
2024: €4.28M▲ +16.8% vs 2023
2025: €4.30M▲ +0.6% vs 2024highest in 3 years
2023 → 2025
Net result
€-64k
2024 · €39k
2023: €4k
2024: €39k▲ +878% vs 2023highest in 3 years
2025: €-64k▼ -266% vs 2024lowest in 3 years
2023 → 2025
Working capital
€1.86M▼ 1.3%
2024 · €1.88M
2023: €3.15Mhighest in 3 years
2024: €1.88M▼ -40.3% vs 2023
2025: €1.86M▼ -1.3% vs 2024lowest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€2.70M-€2.74M▲ 1.4%€2.67M▼ 2.3%
2023: €2.70M
2024: €2.74M▲ +1.4% vs 2023highest in 3 years
2025: €2.67M▼ -2.3% vs 2024lowest in 3 years
Operating result€-20k-€-20k▲ 3.7%€-69k▼ 255%
2023: €-20k
2024: €-20k▲ +3.7% vs 2023highest in 3 years
2025: €-69k▼ -255% vs 2024lowest in 3 years
Net result€4k-€39k▲ 878%€-64k
2023: €4k
2024: €39k▲ +878% vs 2023highest in 3 years
2025: €-64k▼ -266% vs 2024lowest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €69k in 2025 against €20k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.30M
Fixed assets
€2.41M ▲ 2.0%
Current assets
€1.89M ▼ 1.2%
Equity and liabilities €4.30M
Equity
€2.67M ▼ 2.3%
Provisions
€862k ▼ 2.1%
Debt
€771k ▲ 16.2%
Debt's share of the balance-sheet total rises from 15.5% to 17.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€19k▼
2024 · €22k
Cash flow
€25k▼
2024 · €80k
Current ratio
54.41▼
2024 · 56.71
Debt to equity
0.29▲
2024 · 0.24
ROE
-2.4%▼
2024 · 1.4%
ROA
-1.5%▼
2024 · 0.9%
Interest coverage
0.71▼
2024 · 2.30
Debt ≤ 1 year
€35k▲
2024 · €34k
Debt > 1 year
€736k▲
2024 · €630k
Income taxes
€188▲
2024 · €-36
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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.28M€4.30M▲
Fixed assets21/28€2.37M€2.41M▲
Tangible fixed assets22/27€2.37M€2.41M▲
Land and buildings22€2.35M€2.40M▲
Furniture and vehicles24€13k€8k▼
Financial fixed assets28€139€139=
Current assets29/58€1.91M€1.89M▼
Amounts receivable within one year40/41€295k€324k▲
Other amounts receivable41€295k€324k▲
Current investments50/53€1.00M€1.29M▲
Cash at bank and in hand54/58€617k€271k▼
Deferred charges and accrued income490/1€2k€2k=
Equity and liabilities
Total equity and liabilities10/49€4.28M€4.30M▲
Equity10/15€2.74M€2.67M▼
Contributions10/11€105k€105k=
Reserves13€2.68M€2.63M▼
Tax-exempt reserves132€2.64M€2.59M▼
Distributable reserves133€42k€42k=
Profit (loss) carried forward14€-51k€-60k▼
Provisions and deferred taxes16€880k€862k▼
Deferred taxes168€880k€862k▼
Amounts payable17/49€664k€771k▲
Amounts payable after more than one year17€630k€736k▲
Financial debts170/4€630k€736k▲
Other amounts payable178/9€25€25=
Amounts payable within one year42/48€34k€35k▲
Current portion of amounts payable after more than one year42€33k€34k▲
Trade debts44€559€361▼
Suppliers440/4€559€361▼
Taxes, remuneration and social security45€0-
Taxes450/3€0-
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€89k▲
Other operating charges640/8€4k€7k▲
Gross operating margin9900€26k€26k▼
Operating profit (loss)9901€-20k€-69k▼
Financial income75/76B€62k€14k▼
Recurring financial income75€62k€14k▼
Financial charges65/66B€9k€27k▲
Recurring financial charges65€9k€27k▲
Profit (loss) for the period before taxes9903€33k€-82k▼
Transfer from deferred taxes780€6k€18k▲
Income taxes67/77€-36€188▲
Profit (loss) for the period9904€39k€-64k▼
Transfer from tax-exempt reserves789€19k€55k▲
Profit (loss) for the period to be appropriated9905€57k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-51k€-60k▼
Profit (loss) brought forward from the previous period14P€-108k€-51k▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €1k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €41k | €89k | ▲ 115% |
| Other operating charges640/8 | €2k | €4k | €7k | ▲ 54.2% |
| Gross operating margin9900 | €8k | €26k | €26k | ▼ 0.5% |
| Operating profit (loss)9901 | €-20k | €-20k | €-69k | ▼ 255% |
| Financial income75/76B | €24k | €62k | €14k | ▼ 77.0% |
| Recurring financial income75 | €24k | €62k | €14k | ▼ 77.0% |
| Financial charges65/66B | €3k | €9k | €27k | ▲ 186% |
| Recurring financial charges65 | €3k | €9k | €27k | ▲ 186% |
| Profit (loss) for the period before taxes9903 | €629 | €33k | €-82k | ▼ 353% |
| Transfer from deferred taxes780 | €4k | €6k | €18k | ▲ 197% |
| Income taxes67/77 | €313 | €-36 | €188 | ▲ 625% |
| Profit (loss) for the period9904 | €4k | €39k | €-64k | ▼ 266% |
| Transfer from tax-exempt reserves789 | €11k | €19k | €55k | ▲ 197% |
| Profit (loss) for the period to be appropriated9905 | €15k | €57k | €-9k | ▼ 116% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €3.66M | €4.28M | €4.30M | ▲ 0.6% |
| Fixed assets21/28 | €510k | €2.37M | €2.41M | ▲ 2.0% |
| Tangible fixed assets22/27 | €509k | €2.37M | €2.41M | ▲ 2.0% |
| Land and buildings22 | €501k | €2.35M | €2.40M | ▲ 2.2% |
| Furniture and vehicles24 | €8k | €13k | €8k | ▼ 38.3% |
| Financial fixed assets28 | €139 | €139 | €139 | = |
| Current assets29/58 | €3.15M | €1.91M | €1.89M | ▼ 1.2% |
| Amounts receivable within one year40/41 | €91k | €295k | €324k | ▲ 9.9% |
| Other amounts receivable41 | €91k | €295k | €324k | ▲ 9.9% |
| Current investments50/53 | €3.00M | €1.00M | €1.29M | ▲ 29.4% |
| Cash at bank and in hand54/58 | €62k | €617k | €271k | ▼ 56.1% |
| Deferred charges and accrued income490/1 | €1k | €2k | €2k | = |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €3.66M | €4.28M | €4.30M | ▲ 0.6% |
| Equity10/15 | €2.70M | €2.74M | €2.67M | ▼ 2.3% |
| Contributions10/11 | €105k | €105k | €105k | = |
| Reserves13 | €2.70M | €2.68M | €2.63M | ▼ 2.1% |
| Tax-exempt reserves132 | €2.66M | €2.64M | €2.59M | ▼ 2.1% |
| Distributable reserves133 | €42k | €42k | €42k | = |
| Profit (loss) carried forward14 | €-108k | €-51k | €-60k | ▼ 18.1% |
| Provisions and deferred taxes16 | €886k | €880k | €862k | ▼ 2.1% |
| Deferred taxes168 | €886k | €880k | €862k | ▼ 2.1% |
| Amounts payable17/49 | €80k | €664k | €771k | ▲ 16.2% |
| Amounts payable after more than one year17 | €76k | €630k | €736k | ▲ 16.9% |
| Financial debts170/4 | €76k | €630k | €736k | ▲ 16.9% |
| Other amounts payable178/9 | €25 | €25 | €25 | = |
| Amounts payable within one year42/48 | €5k | €34k | €35k | ▲ 3.0% |
| Current portion of amounts payable after more than one year42 | €4k | €33k | €34k | ▲ 3.6% |
| Trade debts44 | €155 | €559 | €361 | ▼ 35.3% |
| Suppliers440/4 | €155 | €559 | €361 | ▼ 35.3% |
| Taxes, remuneration and social security45 | €313 | €0 | - | - |
| Taxes450/3 | €313 | €0 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €39k | €-64k | ▼ 266% |
| + Depreciation and write-downs630 | €27k | €41k | €89k | ▲ 115% |
| Operating cash flow (approximation) | €31k | €80k | €25k | ▼ 69.4% |
| Investment in fixed assets (approximation) | - | €-1.90M | €-136k | ▲ 92.8% |
| Change in cash | - | €555k | €-346k | ▼ 162% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
31-12
Financial
Weakest financial yearnet €-64k
Net result drops to €-64k, the lowest in the series.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Highest result since 2023net €39k ▲878%
Operating result €-20k, net result €39k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
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, Lasne · 1 establishment unit since 2023
Ground area
4,192 m²
Building footprint
232 m²
Volume, LiDAR
1,593 m³
Parcel 25076G0346/00R000, Wallonia · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Boulinier
since 20232.347.063.963
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25076G0346/00R000 | Wallonia | 4,192 m² | 1 · 232 m² | 11.2 m · 2 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.
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,764. 3,956 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
Founded12-07-2023
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68110Buying and selling of own real estate
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
thomas.vulhopp@walk.law
Phone
+32477492289
Scores and ratios are computed by Checked and are not a credit decision.