Bourguignon
ActiveBourguignon has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.46M and a net result of €661k. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 85% of 143 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
87
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▼-2
Solvency100=
Growth61▲+2
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €900k at 30 days acceptable
Liquidity ample (current ratio 6.49 against 6.53 in 2024; short-term debt: 7.8% and cash: 26.6% of total assets), and 17% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
83%
Return on assets
5.2%
Age of the figures
9 mo
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
36 d early
2023
16 d early
2022
25 d early
2021
22 d late
2020
31 d late
2019
77 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€12.05M▲ 4.2%
2024 · €11.56M
2021: €12.83M
2022: €11.46M
2023: €11.72M
2024: €11.56M
2021 → 2025
EBIT margin
7.3%▼ 1.3pp
2024 · 8.6%
2021: 21.9%
2022: 12.4%
2023: 10.5%
2024: 8.6%
2021 → 2025
Net result
€661k▼ 8.5%
2024 · €723k
2018: €350k
2019: €613k
2020: €1.18M
2021: €2.10M
2022: €1.04M
2023: €943k
2024: €723k
2018 → 2025
Working capital
€5.37M▲ 12.7%
2024 · €4.76M
2018: €2.77M
2019: €3.45M
2020: €3.15M
2021: €3.31M
2022: €2.70M
2023: €4.59M
2024: €4.76M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€12.83M-€11.46M▼ 10.6%€11.72M▲ 2.2%€11.56M▼ 1.4%€12.05M▲ 4.2%
Equity€6.45M-€6.45M=€9.01M▲ 39.6%€9.81M▲ 8.9%€10.46M▲ 6.6%
Operating result€2.82M-€1.42M▼ 49.5%€1.23M▼ 13.3%€992k▼ 19.5%€883k▼ 11.0%
Net result€2.10M-€1.04M▼ 50.4%€943k▼ 9.8%€723k▼ 23.3%€661k▼ 8.5%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 11% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.61M
Fixed assets
€6.26M▲ 1.0%
Current assets
€6.35M▲ 12.9%
Equity and liabilities €12.61M
Equity
€10.46M▲ 6.6%
Provisions
€136▼ 75.0%
Debt
€2.14M▲ 6.6%
The debt ratio stays at 17.0%.
Key figures and ratios
EBITDA
€1.49M▼
2024 · €1.51M
Cash flow
€1.27M▲
2024 · €1.24M
Solvency
83.0%=
2024 · 83.0%
Current ratio
6.49▼
2024 · 6.53
Quick ratio
4.78▼
2024 · 4.93
Debt / equity
0.20▼
2024 · 0.21
ROE
6.3%▼
2024 · 7.4%
ROA
5.2%▼
2024 · 6.1%
Interest coverage
40.99▲
2024 · 39.82
Debt
€2.14M▲
2024 · €2.01M
Debt ≤ 1 year
€978k▲
2024 · €861k
Debt > 1 year
€1.10M▼
2024 · €1.12M
Income taxes
€228k▼
2024 · €248k
Staff costs
€1.32M▼
2024 · €1.35M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€11.83M€12.61M▲
Fixed assets21/28€6.20M€6.26M▲
Intangible fixed assets21€3k-
Tangible fixed assets22/27€6.20M€6.26M▲
Land and buildings22€5.39M€5.51M▲
Plant, machinery and equipment23€327k€388k▲
Furniture and vehicles24€70k€365k▲
Assets under construction and advance payments27€411k-
Current assets29/58€5.62M€6.35M▲
Stocks and contracts in progress3€1.38M€1.67M▲
Stocks30/36€1.38M€1.67M▲
Raw materials and consumables30/31€63k€98k▲
Goods purchased for resale34€1.31M€1.57M▲
Amounts receivable within one year40/41€392k€225k▼
Trade receivables40€216k€215k▼
Other amounts receivable41€177k€10k▼
Current investments50/53€686k€1.10M▲
Other investments51/53€686k€1.10M▲
Cash at bank and in hand54/58€3.13M€3.35M▲
Deferred charges and accrued income490/1€37k€2k▼
Equity and liabilities
Total equity and liabilities10/49€11.83M€12.61M▲
Equity10/15€9.81M€10.46M▲
Contributions10/11€1.68M€1.68M=
Capital10€1.68M€1.68M=
Issued capital100€1.68M€1.68M=
Reserves13€1.94M€1.69M▼
Non-distributable reserves130/1€80k€128k▲
Legal reserve130€80k€128k▲
Tax-exempt reserves132€860k€564k▼
Distributable reserves133€1.00M€1.00M=
Profit (loss) carried forward14€6.12M€7.02M▲
Investment grants15€83k€73k▼
Provisions and deferred taxes16€544€136▼
Deferred taxes168€544€136▼
Amounts payable17/49€2.01M€2.14M▲
Amounts payable after more than one year17€1.12M€1.10M▼
Financial debts170/4€1.12M€1.10M▼
Credit institutions173€16k-
Other loans174€1.10M€1.10M=
Amounts payable within one year42/48€861k€978k▲
Current portion of amounts payable after more than one year42€96k€16k▼
Trade debts44€326k€333k▲
Suppliers440/4€326k€333k▲
Advances received on contracts in progress46€202k€227k▲
Taxes, remuneration and social security45€229k€393k▲
Taxes450/3€98k€195k▲
Remuneration and social security454/9€131k€198k▲
Other amounts payable47/48€8k€8k=
Accrued charges and deferred income492/3€31k€63k▲
Income statement
Code20242025
Operating income70/76A€11.63M€12.14M▲
Turnover70€11.56M€12.05M▲
Other operating income74€64k€96k▲
Operating charges60/66A€10.63M€11.26M▲
Goods for resale, raw materials and consumables60€7.72M€8.14M▲
Purchases600/8€7.41M€8.40M▲
Change in stocks: decrease (increase)609€318k€-263k▼
Services and other goods61€1.03M€1.20M▲
Remuneration, social security and pensions62€1.35M€1.32M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€516k€604k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-3k€-28k▼
Other operating charges640/8€24k€27k▲
Operating profit (loss)9901€992k€883k▼
Financial income75/76B€29k€59k▲
Recurring financial income75€29k€59k▲
Income from current assets751€19k€49k▲
Other financial income752/9€9k€10k▲
Financial charges65/66B€51k€53k▲
Recurring financial charges65€51k€53k▲
Debt charges650€38k€36k▼
Other financial charges652/9€13k€16k▲
Profit (loss) for the period before taxes9903€970k€889k▼
Transfer from deferred taxes780€408€408=
Income taxes67/77€248k€228k▼
Taxes670/3€248k€228k▼
Profit (loss) for the period9904€723k€661k▼
Transfer from tax-exempt reserves789€338k€295k▼
Transfer to tax-exempt reserves689€211k-
Profit (loss) for the period to be appropriated9905€850k€957k▲
Appropriation of the result
Profit (loss) to be appropriated9906€6.16M€7.07M▲
Profit (loss) brought forward from the previous period14P€5.31M€6.12M▲
Transfer to equity691/2€42k€48k▲
To the legal reserve6920€42k€48k▲
Social balance
Average headcount (FTE)908725.025.8▲
The notes to these accounts (67 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director discharge · Auditor appointment5 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director discharge · Auditor appointment5 facts ▸
- General meeting, 05/07/2024
- Director discharge, SRL Knaepen Lafontaine
- Auditor appointment, SRL Knaepen Lafontaine (Réviseur d'entreprises)
- Permanent representative, Philippe Knaepen
- Permanent representative, Delphine BOURGUIGNON
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €10MEq €10.46M ▲6.6%
8 profitable years in a row build equity to €10.46M.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity doublescurrent ratio 5.49
Current ratio from 2.26 to 5.49; short-term debt falls from €2.14M to €1.02M.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 22 days late
2021
31-12
Financial
Highest result since 2018net €2.10M ▲78.3%
Operating result €2.82M, net result €2.10M, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Equity above €5MEq €5.15M ▲17.9%
3 profitable years in a row build equity to €5.15M.
16-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 77 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Walhain · 1 establishment unit since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Chemin de la Scierie(WSP) 181457 WalhainGround area
3,206 m²
Building footprint
1,911 m²
Volume, LiDAR
1,082 m³
2 parcels, Wallonia · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Chemin de la Scierie(WSP) 12, 1457 Walhain
since 19992.089.973.777
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25104C0432/00K000 | Wallonia | 2,269 m² | 1 · 1,679 m² | - |
| 25104C0424/00P000 | Wallonia | 937 m² | 1 · 231 m² | 6.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
6488OR9O14FO8R71O645
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Of 663 companies in sector 16110 we hold annual accounts for 320. 108 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-01-1999
Fiscal year end31-12
Activities, NACEBEL
16110Sawmilling and planing of wood
46832Wholesale of timber
47525Retail trade
47529Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.