BRAIN E-LOG
ActiveSummary
BRAIN E-LOG has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €311,360. Equity is growing by ~36.7% per year across the filed fiscal years. Its solvency ranks better than 56% of 671 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+7
Solvency67▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 1.56 against 1.58 in 2024; short-term debt: 53.5% and cash: 12.5% of total assets), but 58.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more 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 2025Solvency, return and age of the figures
Solvency
41.6%
Return on assets
10.4%
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 21-09-2026, 52 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 · 10 filingsDeviation from the deadline
2025
52 d late
2024
61 d late
2023
69 d late
2022
70 d late
2021
31 d late
2020
25 d late
2019
129 d late
← 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 62 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% 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. Usually files around 30 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
In the rankings
#3 fastest grower in Hainaut, Warehousing and transport support sector#7 company by equity in La Louvière, Transport and storage sector#9 company by total assets in La Louvière, Transport and storage sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€311,360▲ 152%
2024 · €123,763
Working capital
€902,429▲ 19.4%
2024 · €755,852
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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€737,611▲ 121%€641,943▼ 13.0%€1.0m▲ 59.6%€198,110▼ 80.7%€402,693▲ 103%
Net result€648,395within the sector's middle half▲ 100%€540,075within the sector's middle half▼ 16.7%€750,262within the sector's middle half▲ 38.9%€123,763within the sector's middle half▼ 83.5%€311,360within the sector's middle half▲ 152%
Equity€426,869within the sector's middle half▲ 208%€666,944within the sector's middle half▲ 56.2%€1.4mwithin the sector's middle half▲ 113%€1.2mwithin the sector's middle half▼ 16.0%€1.2mwithin the sector's middle half▲ 4.4%
Total assets€1.4mwithin the sector's middle half▲ 52.2%€2.5mwithin the sector's middle half▲ 85.7%€3.6mwithin the sector's middle half▲ 43.4%€2.7mwithin the sector's middle half▼ 25.7%€3.0mwithin the sector's middle half▲ 11.4%
Debt€931,776▲ 23.5%€1.9m▲ 99.3%€2.2m▲ 18.5%€1.5m▼ 32.0%€1.7m▲ 16.9%
Working capital€324,371within the sector's middle half▲ 324%€385,718within the sector's middle half▲ 18.9%€1.1mwithin the sector's middle half▲ 193%€755,852within the sector's middle half▼ 33.0%€902,429within the sector's middle half▲ 19.4%
Solvency31.4%within the sector's middle half▲ 15.9pp26.4%within the sector's middle half▼ 5.0pp39.2%within the sector's middle half▲ 12.7pp44.3%within the sector's middle half▲ 5.2pp41.6%within the sector's middle half▼ 2.8pp
Current ratio1.37within the sector's middle half▲ 0.261.21within the sector's middle half▼ 0.161.59within the sector's middle half▲ 0.381.58within the sector's middle half▼ 0.011.56within the sector's middle half▼ 0.02
Return on assets (ROA)47.7%above the sector's middle half▲ 11.5pp21.4%above the sector's middle half▼ 26.3pp20.7%above the sector's middle half▼ 0.7pp4.6%within the sector's middle half▼ 16.1pp10.4%above the sector's middle half▲ 5.8pp
Staff (FTE)15.4within the sector's middle half▲ 8.5%20within the sector's middle half▲ 29.9%28.5within the sector's middle half▲ 42.5%33within the sector's middle half▲ 15.8%29.6within the sector's middle half▼ 10.3%
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 103% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€490,506 ▼ 22.8%
Current assets
€2.5m ▲ 21.9%
Equity and liabilities €3.0m
Equity
€1.2m ▲ 4.4%
Debt
€1.7m ▲ 16.9%
Debt's share of the balance-sheet total rises from 55.7% to 58.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€601,032▲
2024 · €368,669
Cash flow
€509,699▲
2024 · €294,323
Quick ratio
1.50▼
2024 · 1.52
Debt to equity
1.41▲
2024 · 1.26
ROE
25.0%▲
2024 · 10.4%
Interest coverage
25.37▲
2024 · 12.48
Debt ≤ 1 year
€1.6m▲
2024 · €1.3m
Debt > 1 year
€149,158▼
2024 · €199,728
Income taxes
€98,553▲
2024 · €46,352
Staff costs
€1.5m▲
2024 · €1.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% 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 497,662 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% | 1.7% |
| 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 75% 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 20,129 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €612,706 | €711,612 | €1.3m | €1.4m | €1.5m | ▲ 6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €44,595 | €61,783 | €126,036 | €170,559 | €198,338 | ▲ 16.3% |
| Other operating charges640/8 | €2,267 | €8,805 | €8,070 | €59,956 | €43,017 | ▼ 28.3% |
| Non-recurring operating charges66A | - | - | €4,090 | €2,556 | - | - |
| Gross operating margin9900 | €1.4m | €1.4m | €2.4m | €1.8m | €2.1m | ▲ 17.0% |
| Operating profit (loss)9901 | €737,611 | €641,943 | €1.0m | €198,110 | €402,693 | ▲ 103% |
| Financial income75/76B | - | - | - | €1,556 | €30,913 | ▲ 1,887% |
| Recurring financial income75 | - | - | - | €1,556 | €30,913 | ▲ 1,887% |
| Financial charges65/66B | €8,244 | €36,722 | €21,985 | €29,550 | €23,693 | ▼ 19.8% |
| Recurring financial charges65 | €8,244 | €12,624 | €21,985 | €29,550 | €23,693 | ▼ 19.8% |
| Non-recurring financial charges66B | - | €24,099 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €729,367 | €605,221 | €1.0m | €170,116 | €409,913 | ▲ 141% |
| Income taxes67/77 | €80,972 | €65,146 | €252,342 | €46,352 | €98,553 | ▲ 113% |
| Profit (loss) for the period9904 | €648,395 | €540,075 | €750,262 | €123,763 | €311,360 | ▲ 152% |
| Transfer to tax-exempt reserves689 | - | - | - | €42,100 | - | - |
| Profit (loss) for the period to be appropriated9905 | €648,395 | €540,075 | €750,262 | €81,663 | €311,360 | ▲ 281% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €2.5m | €3.6m | €2.7m | €3.0m | ▲ 11.4% |
| Fixed assets21/28 | €149,703 | €307,881 | €576,148 | €635,105 | €490,506 | ▼ 22.8% |
| Intangible fixed assets21 | €43,242 | €25,528 | €18,211 | €7,691 | €2,142 | ▼ 72.1% |
| Tangible fixed assets22/27 | €106,367 | €282,258 | €557,843 | €627,319 | €488,269 | ▼ 22.2% |
| Plant, machinery and equipment23 | €86,483 | €155,100 | €288,816 | €495,387 | €394,201 | ▼ 20.4% |
| Furniture and vehicles24 | - | €102,940 | €151,938 | €108,875 | €77,290 | ▼ 29.0% |
| Leasing and similar rights25 | €19,884 | €13,262 | - | - | - | - |
| Other tangible fixed assets26 | - | €10,956 | €22,326 | €23,057 | €16,778 | ▼ 27.2% |
| Assets under construction and advance payments27 | - | - | €94,762 | - | - | - |
| Financial fixed assets28 | €95 | €95 | €95 | €95 | €95 | = |
| Current assets29/58 | €1.2m | €2.2m | €3.0m | €2.1m | €2.5m | ▲ 21.9% |
| Stocks and contracts in progress3 | €13,006 | €23,807 | €61,778 | €79,803 | €108,892 | ▲ 36.5% |
| Stocks30/36 | €13,006 | €23,807 | €61,778 | €79,803 | €108,892 | ▲ 36.5% |
| Amounts receivable within one year40/41 | €1.0m | €1.8m | €2.2m | €1.4m | €2.0m | ▲ 35.5% |
| Trade receivables40 | €998,704 | €1.7m | €2.0m | €1.4m | €1.7m | ▲ 22.1% |
| Other amounts receivable41 | €44,697 | €90,994 | €166,262 | €27,511 | €227,230 | ▲ 726% |
| Cash at bank and in hand54/58 | €133,963 | €354,993 | €791,254 | €514,452 | €375,152 | ▼ 27.1% |
| Deferred charges and accrued income490/1 | €18,572 | €935 | €35,014 | €11,835 | €58,814 | ▲ 397% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €2.5m | €3.6m | €2.7m | €3.0m | ▲ 11.4% |
| Equity10/15 | €426,869 | €666,944 | €1.4m | €1.2m | €1.2m | ▲ 4.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €43,960 | €43,960 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €42,100 | €42,100 | = |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €418,809 | €658,884 | €1.4m | €1.1m | €1.2m | ▲ 1.0% |
| Investment grants15 | - | - | - | - | €41,188 | - |
| Amounts payable17/49 | €931,776 | €1.9m | €2.2m | €1.5m | €1.7m | ▲ 16.9% |
| Amounts payable after more than one year17 | €47,205 | €26,655 | €287,382 | €199,728 | €149,158 | ▼ 25.3% |
| Financial debts170/4 | €47,205 | €26,655 | €287,382 | €199,728 | €149,158 | ▼ 25.3% |
| Amounts payable within one year42/48 | €884,571 | €1.8m | €1.9m | €1.3m | €1.6m | ▲ 23.4% |
| Current portion of amounts payable after more than one year42 | €26,178 | €115,230 | €232,706 | €90,774 | €72,191 | ▼ 20.5% |
| Trade debts44 | €359,308 | €1.3m | €1.4m | €869,498 | €944,565 | ▲ 8.6% |
| Suppliers440/4 | €359,308 | €1.3m | €1.4m | €869,498 | €944,565 | ▲ 8.6% |
| Advances received on contracts in progress46 | €30,000 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €109,085 | €104,896 | €281,444 | €335,745 | €282,891 | ▼ 15.7% |
| Taxes450/3 | €40,654 | €7,480 | €108,927 | €142,991 | €96,591 | ▼ 32.4% |
| Remuneration and social security454/9 | €68,431 | €97,416 | €172,517 | €192,754 | €186,300 | ▼ 3.3% |
| Other amounts payable47/48 | €360,000 | €300,000 | - | - | €300,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €648,395 | €540,075 | €750,262 | €123,763 | €311,360 | ▲ 152% |
| + Depreciation and write-downs630 | €44,595 | €61,783 | €126,036 | €170,559 | €198,338 | ▲ 16.3% |
| Operating cash flow (approximation) | €692,990 | €601,858 | €876,297 | €294,323 | €509,699 | ▲ 73.2% |
| Investment in fixed assets (approximation) | - | -€219,960 | -€394,303 | -€229,516 | -€53,739 | ▲ 76.6% |
| Change in cash | - | €221,030 | €436,262 | -€276,802 | -€139,300 | ▲ 49.7% |
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
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 52 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 69 days late
2023
31-12
Financial
Highest result since 2018net €750,262 ▲38.9%
Operating result €1.0m, net result €750,262, both a record.
31-12
Financial
Equity above €1mEq €1.4m ▲113%
6 profitable years in a row build equity to €1.4m.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 70 days late
2022
31-12
Financial
Equity above €500,000Eq €666,944 ▲56.2%
5 profitable years in a row build equity to €666,944.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Equity above €200,000Eq €426,869 ▲208%
4 profitable years in a row build equity to €426,869.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-12
Financial
Equity above €100,000Eq €138,473 ▲85.5%
3 profitable years in a row build equity to €138,473.
07-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 129 days late
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 50 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, La Louvière · 1 establishment unit since 2022
Ground area
7.1 ha
Building footprint
1.6 ha
Parcel 55020B0381/00E000, Wallonia. Linked by address, not a title deed.
1 establishment unit
BrainLog HG
since 20222.334.907.982
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55020B0381/00E000 | Wallonia | 7.1 ha | 1 · 1.6 ha | - |
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
Owners and holdings
3 ownersOwners 3
- Sourceaccounts CORVEST 202540%
-
33%
- Sourceaccounts Maksor 202430%
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteLa Louvière2.334.907.982
Parcel delivery
Notified to the BIPT
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Of 1,031 companies in sector 52100 we hold annual accounts for 769. 530 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
Founded06-05-2002
Fiscal year end31-12
Activities, NACEBEL 2025
52100Warehousing and storage
Contact
E-mail
fr@brain-log.comLa Louvière
Phone
+32476437713La Louvière
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477485567
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.