Equity
-€34,253
Debts exceed assets in financial year 2025.
BOURSEAUX
Lifetime
13 annual accounts with figures on one time axispeak €69,259 (2013)
-€12,573▲ €4,411
lowest -€24,985 (2018)
-€15,524▲ €4,545
peak €77,650 (2016)
-€34,253▼ €15,524
€39,368▲ 75.6%
Board1 name since 2019
1 directorBOURSEAUX Harald
Documentsfilings and deeds
25-02-2026156 days before the deadline
2025financial year
Gross margin from -€16,985 to -€12,573Loss of €15,524Change of role: BOURSEAUX Harald, from manager to director 30-04Equity from -€18,729 to -€34,253Debts from €22,413 to €39,368Cash from €813 to €553
Key points
from the 2025 annual accountsChecked score
53
Fair
Financially stronger than 8% of micro companies in wholesale trade (NACE 46)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.2%▼ -0.1 percentage points vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025lowest value
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.8%▲ +0.5 percentage points vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.9%▲ +0.1 percentage points vs 02-2026highest value
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 0.9%● unchanged vs 06-2026
08-2026: 0.9%● unchanged vs 07-2026
09-2026: 0.9%● unchanged vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Loss of €15,524, the second in a row (financial year 2025)
Negative equity -€34,253
lowers risk
Size: total assets €5,116
Founded in 2012
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 6% of them on solvency, 14% on liquidity, 6% on profitability and 6% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as BOURSEAUX has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BOURSEAUX itself is lower: 0.9% within 12 months. It rests on far more data about BOURSEAUX than the profile alone.
Test of the method
The method was tested on the 497,447 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 6,907 companies, not a prediction for BOURSEAUX. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.13, below 1. Short-term debt is 769.6% and cash 10.8% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 25-02-2026, 156 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
156 days early
2024
27 days early
2023
75 days early
2022
84 days early
2021
81 days early
2020
19 days early
2019
16 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 65 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 May (4 of the last 5 accounts filed within 54 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0848985372
Change of role: BOURSEAUX Harald, from manager to director
Director discharge: BOURSEAUX Harald · General meeting of 25-04-2025 · Gazette deed
Appointment: Harald BOURSEAUX (manager)
General meeting of 15-02-2019 · Gazette deed
First establishment
Rue Haute 2, Lontzen
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BOURSEAUX Lontzen | €5,116 | -€12,573 | -669.6% | - |
| UNITED STATES OF BELGIUM Brussels | €7,410 | -€1,400 | -97.1% | - |
| NINA S Namur | €8,411 | -€103,332 | -1314.2% | - |
| SMADERCO Liège | €9,668 | -€1,901 | 12.5% | - |
| VIGO DESIGN Charleroi | €12,186 | -€1,258 | -85.5% | - |
| VIRGO Mechelen | €10,977 | -€58,625 | -2022.0% | - |
| Retail Management Consultancy Lier | €3,079 | €3,521 | -214.4% | - |
These companies have the same main activity as BOURSEAUX: agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160). They are comparable in size and age: total assets between €3,080 and €12,200, founded between 2004 and 2016.
Official details
Source: KBO- Status
- Active since 19-09-2012Normal situation
- Activity
- Agents in the wholesale of textiles, clothing, fur, footwear and leather goodsNACE 46160and 2 others
- Establishment unit
- 2.213.353.9184711 Lontzen, since 19-10-2012
- Financial year end
- 31 December
- Peppol
- Reachable since 20-04-2026
Annual accounts 2025
- €5,116▲ 38.9%
- Filing
- Filed on 25-02-2026, 156 days before the end of the filing period
Insights on BOURSEAUX
BOURSEAUX has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€34,253) and a net result of -€15,524.
Equity has been shrinking by about 40% per year since 2018. The computed 12-month bankruptcy probability is 0.9% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BOURSEAUX
- What is the company number of BOURSEAUX?
- The company number of BOURSEAUX is 0848.985.372. The VAT number is the same number with BE in front: BE 0848.985.372.
- Where is BOURSEAUX based?
- The registered office is at Rue Haute 2, 4711 Lontzen.Company details
- What does BOURSEAUX do?
- According to the KBO register, the main activity is agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160).
- What is the legal form of BOURSEAUX?
- BOURSEAUX is a private limited company (BV).
- When was BOURSEAUX founded?
- BOURSEAUX was founded on 19-09-2012.
- Is BOURSEAUX still active?
- Yes, BOURSEAUX is an active enterprise in the KBO register.
- What is the turnover of BOURSEAUX?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is BOURSEAUX profitable?
- In financial year 2025, BOURSEAUX made a loss of €15,524.
- Where can I find the annual accounts of BOURSEAUX?
- BOURSEAUX filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BOURSEAUX due?
- BOURSEAUX must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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