Braco
ActiveSummary
Braco has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €88,575 and a net result of €643,296. Equity is shrinking by ~27.1% per year across the filed fiscal years. Its solvency ranks better than 17% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency35▲+7
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.1 against 1.02 in 2024; short-term debt: 90.2% and cash: 68.8% of total assets), and 90.3% 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+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
9.7%
Return on assets
70.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 8115 sector peers (2025).
NBB · sector comparisonPosition among 8115 sector peers
Solvency
better than 17%
← weakest
strongest →
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
43 d early
2023
44 d early
2022
46 d early
2021
34 d early
2020
51 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€88,575▲ 95.6%
2024 · €45,279
Total assets
€911,707▼ 33.2%
2024 · €1.4m
Net result
€643,296▲ 11.9%
2024 · €574,708
Working capital
€84,023▲ 181%
2024 · €29,930
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€710,084▲ 2.6%€691,720▼ 2.6%€736,161▲ 6.4%€748,814▲ 1.7%€850,148▲ 13.5%
Net result€531,197above the sector's middle half▲ 2.5%€527,439above the sector's middle half▼ 0.7%€547,889above the sector's middle half▲ 3.9%€574,708above the sector's middle half▲ 4.9%€643,296above the sector's middle half▲ 11.9%
Equity€695,243within the sector's middle half▲ 324%€122,681below the sector's middle half▼ 82.4%€670,570within the sector's middle half▲ 447%€45,279below the sector's middle half▼ 93.2%€88,575below the sector's middle half▲ 95.6%
Total assets€766,965within the sector's middle half▼ 43.6%€1.4mwithin the sector's middle half▲ 86.1%€834,902within the sector's middle half▼ 41.5%€1.4mwithin the sector's middle half▲ 63.6%€911,707within the sector's middle half▼ 33.2%
Debt€71,723▼ 94.0%€1.3m▲ 1,719%€164,331▼ 87.4%€1.3m▲ 703%€823,132▼ 37.7%
Working capital€646,585▲ 470%€84,235▼ 87.0%€654,187▲ 677%€29,930▼ 95.4%€84,023▲ 181%
Solvency90.6%above the sector's middle half▲ 78.6pp8.6%below the sector's middle half▼ 82.1pp80.3%above the sector's middle half▲ 71.7pp3.3%below the sector's middle half▼ 77.0pp9.7%below the sector's middle half▲ 6.4pp
Staff (FTE)5within the sector's middle half=5within the sector's middle half=5within the sector's middle half=4.4within the sector's middle half▼ 12.0%4within the sector's middle half▼ 9.1%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 14% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €911,707
Fixed assets
€5,403 ▼ 64.8%
Current assets
€906,304 ▼ 32.9%
Equity and liabilities €911,707
Equity
€88,575 ▲ 95.6%
Debt
€823,132 ▼ 37.7%
Debt's share of the balance-sheet total falls from 96.7% to 90.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€854,838▲
2024 · €758,236
Cash flow
€647,986▲
2024 · €584,131
Current ratio
1.10▲
2024 · 1.02
Debt to equity
9.29▼
2024 · 29.16
ROE
726.3%
ROA
70.6%▲
2024 · 42.1%
Interest coverage
640.97▲
2024 · 486.54
Debt ≤ 1 year
€822,281▼
2024 · €1.3m
Income taxes
€215,091▲
2024 · €192,055
Staff costs
€239,215▼
2024 · €264,568
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 926 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
4.5%
stopped otherwise
93%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 926 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,420 | €1,653 | ▲ 16.4% |
| Remuneration, social security and pensions62 | €261,755 | €277,318 | €286,643 | €264,568 | €239,215 | ▼ 9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,581 | €20,008 | €13,856 | €9,422 | €4,690 | ▼ 50.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €143 | €15,287 | €17,912 | €5,051 | -€676 | ▼ 113% |
| Other operating charges640/8 | €2,477 | €2,787 | €1,416 | €2,474 | €1,515 | ▼ 38.8% |
| Non-recurring operating charges66A | - | €9,474 | - | - | €1,951 | - |
| Gross operating margin9900 | €996,040 | €1.0m | €1.1m | €1.0m | €1.1m | ▲ 6.5% |
| Operating profit (loss)9901 | €710,084 | €691,720 | €736,161 | €748,814 | €850,148 | ▲ 13.5% |
| Financial income75/76B | €1,530 | €1,341 | €12,504 | €19,508 | €9,573 | ▼ 50.9% |
| Recurring financial income75 | €1,530 | €768 | €12,210 | €17,505 | €5,051 | ▼ 71.1% |
| Non-recurring financial income76B | - | €574 | €294 | €2,003 | €4,522 | ▲ 126% |
| Financial charges65/66B | €2,460 | €4,578 | €1,835 | €1,558 | €1,334 | ▼ 14.4% |
| Recurring financial charges65 | €2,460 | €4,203 | €1,835 | €1,558 | €1,334 | ▼ 14.4% |
| Non-recurring financial charges66B | - | €375 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €709,154 | €688,483 | €746,830 | €766,764 | €858,387 | ▲ 11.9% |
| Income taxes67/77 | €177,957 | €161,044 | €198,941 | €192,055 | €215,091 | ▲ 12.0% |
| Profit (loss) for the period9904 | €531,197 | €527,439 | €547,889 | €574,708 | €643,296 | ▲ 11.9% |
| Profit (loss) for the period to be appropriated9905 | €531,197 | €527,439 | €547,889 | €574,708 | €643,296 | ▲ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €766,965 | €1.4m | €834,902 | €1.4m | €911,707 | ▼ 33.2% |
| Fixed assets21/28 | €48,834 | €38,446 | €26,021 | €15,349 | €5,403 | ▼ 64.8% |
| Intangible fixed assets21 | €903 | €668 | €433 | €198 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €47,931 | €37,779 | €25,588 | €15,151 | €5,403 | ▼ 64.3% |
| Plant, machinery and equipment23 | - | - | €1,250 | - | - | - |
| Furniture and vehicles24 | €47,931 | €37,779 | €24,338 | €15,151 | €5,403 | ▼ 64.3% |
| Current assets29/58 | €718,132 | €1.4m | €808,881 | €1.4m | €906,304 | ▼ 32.9% |
| Stocks and contracts in progress3 | €14,163 | €9,457 | €6,528 | €7,293 | - | - |
| Stocks30/36 | €14,163 | €9,457 | €6,528 | €7,293 | - | - |
| Amounts receivable within one year40/41 | €171,595 | €366,481 | €346,000 | €229,448 | €277,764 | ▲ 21.1% |
| Trade receivables40 | €165,065 | €324,512 | €326,828 | €227,915 | €276,070 | ▲ 21.1% |
| Other amounts receivable41 | €6,529 | €41,969 | €19,172 | €1,533 | €1,694 | ▲ 10.5% |
| Current investments50/53 | - | - | €300,000 | - | - | - |
| Cash at bank and in hand54/58 | €529,048 | €1.0m | €153,319 | €1.1m | €627,023 | ▼ 43.5% |
| Deferred charges and accrued income490/1 | €3,326 | €3,032 | €3,035 | €3,059 | €1,516 | ▼ 50.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €766,965 | €1.4m | €834,902 | €1.4m | €911,707 | ▼ 33.2% |
| Equity10/15 | €695,243 | €122,681 | €670,570 | €45,279 | €88,575 | ▲ 95.6% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €135,724 | - | - | - | - | - |
| Distributable reserves133 | €135,724 | - | - | - | - | - |
| Profit (loss) carried forward14 | €540,969 | €104,131 | €652,020 | €26,729 | €70,025 | ▲ 162% |
| Amounts payable17/49 | €71,723 | €1.3m | €164,331 | €1.3m | €823,132 | ▼ 37.7% |
| Amounts payable within one year42/48 | €71,547 | €1.3m | €154,694 | €1.3m | €822,281 | ▼ 37.7% |
| Trade debts44 | €42,421 | €176,507 | €98,843 | €56,285 | €116,826 | ▲ 108% |
| Suppliers440/4 | €42,421 | €176,507 | €98,843 | €56,285 | €116,826 | ▲ 108% |
| Advances received on contracts in progress46 | - | €5,369 | €5,259 | €4,574 | €381 | ▼ 91.7% |
| Taxes, remuneration and social security45 | €29,125 | €22,614 | €50,448 | €58,942 | €105,074 | ▲ 78.3% |
| Taxes450/3 | €7,434 | €2,389 | €19,623 | €38,633 | €82,530 | ▲ 114% |
| Remuneration and social security454/9 | €21,691 | €20,225 | €30,825 | €20,309 | €22,543 | ▲ 11.0% |
| Other amounts payable47/48 | - | €1.1m | €145 | €1.2m | €600,000 | ▼ 50.0% |
| Accrued charges and deferred income492/3 | €176 | - | €9,637 | - | €851 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €531,197 | €527,439 | €547,889 | €574,708 | €643,296 | ▲ 11.9% |
| + Depreciation and write-downs630 | €21,581 | €20,008 | €13,856 | €9,422 | €4,690 | ▼ 50.2% |
| Operating cash flow (approximation) | €552,778 | €547,447 | €561,744 | €584,131 | €647,986 | ▲ 10.9% |
| Investment in fixed assets (approximation) | - | -€9,621 | -€1,430 | €1,250 | €5,256 | ▲ 321% |
| Change in cash | - | €480,707 | -€856,436 | €957,041 | -€483,336 | ▼ 151% |
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
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €643,296 ▲11.9%
Operating result €850,148, net result €643,296, both a record.
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 5current ratio 5.23
Current ratio from 1.06 to 5.23; short-term debt falls from €1.3m to €154,694.
31-12
Financial
Equity above €500,000Eq €670,570 ▲447%
6 profitable years in a row build equity to €670,570.
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 9current ratio 10.04
Current ratio from 1.09 to 10.04; short-term debt falls from €1.2m to €71,547.
31-12
Financial
Equity above €500,000Eq €695,243 ▲324%
4 profitable years in a row build equity to €695,243.
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €417,335 ▼16.7%
Net result drops to €417,335, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 23 acts read
About the unread acts
We know of 23 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
23 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, Aalst · 1 establishment unit since 1965
Ground area
1.1 ha
Building footprint
2,470 m²
Volume, LiDAR
2,205 m³
Parcel 41029B0274/00H000, Flanders · tallest building 7.1 m. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
BRACO
since 19652.000.447.034
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41029B0274/00H000 | Flanders | 1.1 ha | 1 · 2,469 m² | 7.1 m |
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.
Structure & network
Part of the group
ANSUL
11 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- ANSUL
- Braco
Highest known parent: ANSUL. The sources do not say who stands above it.
Owners 1
- ANSULparentSourceaccounts ANSUL 2024100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 1,567 companies in sector 46900 we hold annual accounts for 919. 586 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
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
28291
46900Non-specialised wholesale trade
28293
46841
77110Renting and leasing of cars and light motor vehicles
77221
E-invoicing
Reachable via Peppol
Peppol ID
0208:0400276735
Also
9925:BE0400276735
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.