BPO
ActiveSummary
BPO has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.22M and a net result of €67k. Equity is shrinking by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 41% of 9715 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability29▼-60
Solvency48▲+6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 2.07 against 1.42 in 2023; short-term debt: 21.3% and cash: 19.1% of total assets), but 77.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 · 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
22.6%
Return on assets
0.4%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
192021222324
2019 to 2024 · latest year €4.22M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
37 d early
2022
59 d early
2021
27 d early
2020
60 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€4.22M▲ 1.6%
2023 · €4.15M
Total assets
€18.66M▼ 21.5%
2023 · €23.78M
Net result
€67k▼ 98.2%
2023 · €3.80M
Working capital
€4.25M▲ 13.4%
2023 · €3.75M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€-3.64M€-1.52M▲ 58.2%€190k€5.40M▲ 2,744%€415k▼ 92.3%
Net result€-3.15M€-1.46M▲ 53.7%€146k€3.80M▲ 2,493%€67k▼ 98.2%
Equity€4.66M▼ 40.3%€3.21M▼ 31.2%€3.36M▲ 4.6%€4.15M▲ 23.8%€4.22M▲ 1.6%
Total assets€10.61M▼ 56.1%€14.93M▲ 40.7%€15.03M▲ 0.7%€23.78M▲ 58.2%€18.66M▼ 21.5%
Debt€1.88M▼ 84.6%€7.66M▲ 306%€7.61M▼ 0.6%€14.33M▲ 88.4%€9.17M▼ 36.0%
Working capital€6.36M▼ 35.2%€-1.55M€-1.32M▲ 15.2%€3.75M€4.25M▲ 13.4%
Staff (FTE)4▼ 29.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 92% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €18.66M
Fixed assets
€10.42M ▼ 6.7%
Current assets
€8.24M ▼ 34.6%
Equity and liabilities €18.66M
Equity
€4.22M ▲ 1.6%
Provisions
€5.27M ▼ 0.4%
Debt
€9.17M ▼ 36.0%
Debt's share of the balance-sheet total falls from 60.3% to 49.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€638k▼
2023 · €5.58M
Cash flow
€290k▼
2023 · €3.98M
Current ratio
2.07▲
2023 · 1.42
Debt to equity
2.17▼
2023 · 3.45
ROE
1.6%▼
2023 · 91.4%
ROA
0.4%▼
2023 · 16.0%
Interest coverage
1.23▼
2023 · 11.92
Debt ≤ 1 year
€3.98M▼
2023 · €8.85M
Debt > 1 year
€5.18M▼
2023 · €5.36M
Income taxes
€27k▲
2023 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €758k | €158k | - | - | - |
| Remuneration, social security and pensions62 | - | €129 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €254k | €363k | €330k | €176k | €223k | ▲ 26.4% |
| Other operating charges640/8 | - | €8k | €117k | €393k | €204k | ▼ 48.1% |
| Non-recurring operating charges66A | - | €801k | - | - | - | - |
| Gross operating margin9900 | €-2.75M | €-348k | €637k | €5.97M | €842k | ▼ 85.9% |
| Operating profit (loss)9901 | €-3.64M | €-1.52M | €190k | €5.40M | €415k | ▼ 92.3% |
| Financial income75/76B | - | €74k | €83k | €93k | €177k | ▲ 89.3% |
| Recurring financial income75 | €470k | €74k | €83k | €93k | €177k | ▲ 89.3% |
| Financial charges65/66B | - | €8k | €126k | €468k | €518k | ▲ 10.7% |
| Recurring financial charges65 | €9k | €8k | €126k | €468k | €518k | ▲ 10.7% |
| Profit (loss) for the period before taxes9903 | €-3.15M | €-1.46M | €147k | €5.03M | €73k | ▼ 98.5% |
| Transfer from deferred taxes780 | - | - | - | €35k | €21k | ▼ 39.8% |
| Transfer to deferred taxes680 | - | - | - | €1.26M | - | - |
| Income taxes67/77 | - | - | €110 | €2k | €27k | ▲ 1,085% |
| Profit (loss) for the period9904 | €-3.15M | €-1.46M | €146k | €3.80M | €67k | ▼ 98.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €105k | €63k | ▼ 39.8% |
| Transfer to tax-exempt reserves689 | - | - | - | €3.79M | - | - |
| Profit (loss) for the period to be appropriated9905 | €-3.15M | €-1.46M | €146k | €114k | €131k | ▲ 14.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.61M | €14.93M | €15.03M | €23.78M | €18.66M | ▼ 21.5% |
| Fixed assets21/28 | €2.47M | €8.91M | €8.87M | €11.17M | €10.42M | ▼ 6.7% |
| Intangible fixed assets21 | €1.04M | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.43M | €8.91M | €8.87M | €11.17M | €10.42M | ▼ 6.7% |
| Land and buildings22 | - | €8.61M | €8.57M | €10.35M | €10.13M | ▼ 2.2% |
| Plant, machinery and equipment23 | - | €4k | - | €530k | - | - |
| Assets under construction and advance payments27 | - | €294k | €294k | €294k | €294k | = |
| Current assets29/58 | €8.14M | €6.02M | €6.16M | €12.60M | €8.24M | ▼ 34.6% |
| Amounts receivable within one year40/41 | €8.11M | €5.77M | €5.72M | €4.52M | €4.67M | ▲ 3.3% |
| Trade receivables40 | - | €307k | €141k | €197k | €259k | ▲ 31.0% |
| Other amounts receivable41 | - | €5.46M | €5.58M | €4.33M | €4.41M | ▲ 2.0% |
| Current investments50/53 | - | - | - | €400k | - | - |
| Cash at bank and in hand54/58 | €16k | €215k | €406k | €7.68M | €3.57M | ▼ 53.6% |
| Deferred charges and accrued income490/1 | - | €38k | €34k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.61M | €14.93M | €15.03M | €23.78M | €18.66M | ▼ 21.5% |
| Equity10/15 | €4.66M | €3.21M | €3.36M | €4.15M | €4.22M | ▲ 1.6% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €4k | €4k | €4k | €3.69M | €3.63M | ▼ 1.7% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €2k | €2k | €3.68M | €3.62M | ▼ 1.7% |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €4.64M | €3.19M | €3.33M | €447k | €578k | ▲ 29.2% |
| Provisions and deferred taxes16 | €4.06M | €4.06M | €4.06M | €5.29M | €5.27M | ▼ 0.4% |
| Provisions for liabilities and charges160/5 | - | €4.06M | €4.06M | €4.06M | €4.06M | = |
| Other liabilities and charges164/5 | - | €4.06M | €4.06M | €4.06M | €4.06M | = |
| Deferred taxes168 | - | - | - | €1.23M | €1.21M | ▼ 1.7% |
| Amounts payable17/49 | €1.88M | €7.66M | €7.61M | €14.33M | €9.17M | ▼ 36.0% |
| Amounts payable after more than one year17 | - | - | - | €5.36M | €5.18M | ▼ 3.3% |
| Financial debts170/4 | - | - | - | €5.36M | €5.18M | ▼ 3.3% |
| Amounts payable within one year42/48 | €1.78M | €7.57M | €7.48M | €8.85M | €3.98M | ▼ 55.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €177k | €177k | = |
| Financial debts43 | - | €6.45M | €7.08M | €3.56M | €3.56M | = |
| Credit institutions430/8 | - | €6.45M | €7.08M | €3.56M | €3.56M | = |
| Trade debts44 | €1.27M | €792k | €148k | €790k | €60k | ▼ 92.4% |
| Suppliers440/4 | - | €792k | €148k | €790k | €60k | ▼ 92.4% |
| Taxes, remuneration and social security45 | - | €239k | €222k | €1.33M | €134k | ▼ 89.9% |
| Taxes450/3 | - | - | - | €1.14M | €7k | ▼ 99.4% |
| Remuneration and social security454/9 | - | €239k | €222k | €189k | €127k | ▼ 32.8% |
| Other amounts payable47/48 | - | €89k | €29k | €2.99M | €49k | ▼ 98.4% |
| Accrued charges and deferred income492/3 | - | €82k | €130k | €119k | €1k | ▼ 99.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3.15M | €-1.46M | €146k | €3.80M | €67k | ▼ 98.2% |
| + Depreciation and write-downs630 | €254k | €363k | €330k | €176k | €223k | ▲ 26.4% |
| Operating cash flow (approximation) | €-2.89M | €-1.09M | €476k | €3.98M | €290k | ▼ 92.7% |
| Investment in fixed assets (approximation) | - | €-6.80M | €-288k | €-2.48M | €530k | ▲ 121% |
| Change in cash | - | €199k | €191k | €7.28M | €-4.12M | ▼ 157% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €146k
Net result €146k after 2 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-3.15M
Net result drops to €-3.15M, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 4.57
Current ratio from 1.81 to 4.57; short-term debt falls from €12.17M to €1.78M.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
23-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 acts for this company are 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, Herentals · 1 establishment unit since 2005
Ground area
1.9 ha
Building footprint
7,573 m²
Volume, LiDAR
78,986 m³
2 parcels, Flanders · tallest building 24.1 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
BUSINESS PARKK OLEN
since 20052.150.564.333
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027A0065/00F002 | Flanders | 1.2 ha | 1 · 3,044 m² | 24.1 m · 6 fl. |
| 13027A0023/00F004 | Flanders | 7,126 m² | 1 · 4,530 m² | 24.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
GRUPPO XXI
8 companies
Group, risk and exposure
Connections & network
No current directors or connected companies found in the register.
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Herentals · LEI lapsed
controls
BPOBE 0877.631.848
Recognitions · licences · registrations
Legal Entity Identifier
6994006LCR7VF62MRI85
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Of 1,295 companies in sector 68122 we hold annual accounts for 903. 409 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
Founded01-12-2005
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.