Summary
BRAREM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20.2m and a net result of €272,380. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 72% of 2445 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 15-05-2026, 46 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
46 d early
2025
2 d early
2024
74 d early
2024
13 d early
2023
87 d early
2023
26 d early
2022
88 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 48 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema, statutory accounts
Equity
€20.2m▲ 1.4%
2024 · €20.0m
Net result
€272,380▼ 94.9%
2024 · €5.3m
Total assets
€24.2m▲ 1.2%
2024 · €23.9m
Solvency
83.6%▲ 0.1pp
2024 · 83.5%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Turnover€324,000=€486,000▲ 50.0%€428,000▼ 11.9%€480,000▲ 12.1%€570,000▲ 18.8%
Operating result€93,423▲ 4.0%€163,745▲ 75.3%€214,626▲ 31.1%€237,868▲ 10.8%€332,772▲ 39.9%
Net result€69,303▼ 0.4%€118,605▲ 71.1%€1.6mabove the sector's middle half▲ 1,282%€5.3mabove the sector's middle half▲ 225%€272,380within the sector's middle half▼ 94.9%
Equity€17.4m▲ 0.4%€17.5m▲ 0.7%€19.1mwithin the sector's middle half▲ 9.4%€20.0mwithin the sector's middle half▲ 4.3%€20.2mwithin the sector's middle half▲ 1.4%
Total assets€18.7m▲ 0.2%€18.9m▲ 0.6%€19.3mwithin the sector's middle half▲ 2.4%€23.9mwithin the sector's middle half▲ 23.9%€24.2mwithin the sector's middle half▲ 1.2%
Debt€1.4m▼ 2.5%€1.4m▼ 0.1%€176,764▼ 87.1%€4.0m▲ 2,138%€4.0m▲ 0.5%
Working capital-€574,981▲ 11.4%-€447,905▲ 22.1%€1.2mwithin the sector's middle half€1.9mwithin the sector's middle half▲ 61.9%€2.2mwithin the sector's middle half▲ 15.6%
Solvency92.7%▲ 0.2pp92.7%▲ 0.1pp99.1%above the sector's middle half▲ 6.4pp83.5%within the sector's middle half▼ 15.6pp83.6%within the sector's middle half▲ 0.1pp
Current ratio0.58▲ 0.040.67▲ 0.097.78above the sector's middle half▲ 7.111.49within the sector's middle half▼ 6.291.56within the sector's middle half▲ 0.07
Return on assets (ROA)0.4%=0.6%▲ 0.3pp8.5%within the sector's middle half▲ 7.9pp22.3%above the sector's middle half▲ 13.8pp1.1%within the sector's middle half▼ 21.2pp
Staff (FTE)0.50.6▲ 20.0%0.6below the sector's middle half=0.6below the sector's middle half=0.6below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Net result +1,282% on 2022. The previous fiscal year ran 18 months, this one 12.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 40% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €24.2m
Fixed assets
€18.0m ▼ 0.1%
Current assets
€6.2m ▲ 5.3%
Equity and liabilities €24.2m
Equity
€20.2m ▲ 1.4%
Debt
€4.0m ▲ 0.5%
Debt's share of the balance-sheet total falls from 16.5% to 16.4%. Equity and debt are higher.
Key figures and ratios
ROE
1.3%▼
2024 · 26.7%
Debt ≤ 1 year
€4.0m▲
2024 · €4.0m
Income taxes
€91,689▲
2024 · €59,462
Staff costs
€19,259▲
2024 · €17,966
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €490,710 | €428,000 | €481,970 | €573,310 | ▲ 19.0% |
| Turnover70 | €324,000 | €486,000 | €428,000 | €480,000 | €570,000 | ▲ 18.8% |
| Other operating income74 | - | €4,710 | €0 | €1,970 | €3,310 | ▲ 68.0% |
| Operating charges60/66A | - | €326,966 | €213,374 | €244,101 | €240,538 | ▼ 1.5% |
| Services and other goods61 | - | €295,229 | €194,186 | €209,520 | €196,501 | ▼ 6.2% |
| Remuneration, social security and pensions62 | - | €22,525 | €17,178 | €17,966 | €19,259 | ▲ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,043 | €8,034 | €810 | €15,025 | €22,858 | ▲ 52.1% |
| Other operating charges640/8 | - | €1,177 | €1,200 | €1,590 | €1,921 | ▲ 20.8% |
| Operating profit (loss)9901 | €93,423 | €163,745 | €214,626 | €237,868 | €332,772 | ▲ 39.9% |
| Financial income75/76B | - | €68 | €1.5m | €5.2m | €32,943 | ▼ 99.4% |
| Recurring financial income75 | €20 | €68 | €1.5m | €5.2m | €32,943 | ▼ 99.4% |
| Income from financial fixed assets750 | - | - | €1.5m | €5.2m | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | - | €32,943 | - |
| Other financial income752/9 | - | €68 | €77 | €145 | €0 | ▼ 100% |
| Financial charges65/66B | - | €5,533 | €1,305 | €1,653 | €1,646 | ▼ 0.4% |
| Recurring financial charges65 | €945 | €5,533 | €1,305 | €1,653 | €1,646 | ▼ 0.4% |
| Debt charges650 | €803 | €1,204 | €1,050 | €1,503 | €1,385 | ▼ 7.9% |
| Other financial charges652/9 | - | €4,329 | €255 | €150 | €261 | ▲ 74.1% |
| Profit (loss) for the period before taxes9903 | €92,498 | €158,281 | €1.7m | €5.4m | €364,069 | ▼ 93.2% |
| Income taxes67/77 | €23,195 | €39,676 | €54,233 | €59,462 | €91,689 | ▲ 54.2% |
| Taxes670/3 | - | €39,676 | €54,233 | €59,462 | €91,689 | ▲ 54.2% |
| Profit (loss) for the period9904 | €69,303 | €118,605 | €1.6m | €5.3m | €272,380 | ▼ 94.9% |
| Profit (loss) for the period to be appropriated9905 | €69,303 | €118,605 | €1.6m | €5.3m | €272,380 | ▼ 94.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18.7m | €18.9m | €19.3m | €23.9m | €24.2m | ▲ 1.2% |
| Fixed assets21/28 | €17.9m | €17.9m | €17.9m | €18.0m | €18.0m | ▼ 0.1% |
| Tangible fixed assets22/27 | €10,494 | €2,460 | €1,651 | €96,865 | €74,008 | ▼ 23.6% |
| Furniture and vehicles24 | - | €2,460 | €1,651 | €96,865 | €74,008 | ▼ 23.6% |
| Financial fixed assets28 | €17.9m | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Affiliated companies280/1 | - | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Participating interests280 | - | €17.9m | €17.9m | €17.9m | €17.9m | = |
| Current assets29/58 | €798,362 | €923,190 | €1.4m | €5.9m | €6.2m | ▲ 5.3% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €40,083 | €38,890 | €311,144 | €4.3m | €4.3m | ▲ 0.4% |
| Trade receivables40 | - | €32,670 | €48,400 | €48,400 | €66,550 | ▲ 37.5% |
| Other amounts receivable41 | - | €6,220 | €262,744 | €4.3m | €4.3m | = |
| Current investments50/53 | - | - | - | - | €1.5m | - |
| Other investments51/53 | - | - | - | - | €1.5m | - |
| Cash at bank and in hand54/58 | €757,589 | €884,161 | €1.1m | €1.6m | €332,941 | ▼ 78.8% |
| Deferred charges and accrued income490/1 | - | €139 | €148 | €1,686 | €28,183 | ▲ 1,572% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18.7m | €18.9m | €19.3m | €23.9m | €24.2m | ▲ 1.2% |
| Equity10/15 | €17.4m | €17.5m | €19.1m | €20.0m | €20.2m | ▲ 1.4% |
| Contributions10/11 | - | €9.0m | €9.0m | €6.9m | €6.9m | = |
| Reserves13 | €897,500 | €897,500 | €897,500 | €686,377 | €686,377 | = |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €897,500 | €897,500 | €686,377 | €686,377 | = |
| Profit (loss) carried forward14 | €7.5m | €7.6m | €9.3m | €12.4m | €12.7m | ▲ 2.2% |
| Amounts payable17/49 | €1.4m | €1.4m | €176,764 | €4.0m | €4.0m | ▲ 0.5% |
| Amounts payable within one year42/48 | €1.4m | €1.4m | €175,714 | €4.0m | €4.0m | ▲ 0.4% |
| Trade debts44 | €4,923 | €2,616 | €2,688 | €4,228 | €4,170 | ▼ 1.4% |
| Suppliers440/4 | - | €2,616 | €2,688 | €4,228 | €4,170 | ▼ 1.4% |
| Taxes, remuneration and social security45 | - | €31,545 | €53,800 | €45,769 | €62,639 | ▲ 36.9% |
| Taxes450/3 | - | €21,099 | €42,889 | €34,599 | €51,292 | ▲ 48.2% |
| Remuneration and social security454/9 | - | €10,445 | €10,910 | €11,171 | €11,347 | ▲ 1.6% |
| Other amounts payable47/48 | - | €1.3m | €119,227 | €3.9m | €3.9m | ▼ 0.1% |
| Accrued charges and deferred income492/3 | - | €1,204 | €1,050 | €4,672 | €9,575 | ▲ 105% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,303 | €118,605 | €1.6m | €5.3m | €272,380 | ▼ 94.9% |
| + Depreciation and write-downs630 | €9,043 | €8,034 | €810 | €15,025 | €22,858 | ▲ 52.1% |
| Operating cash flow (approximation) | €78,346 | €126,639 | €1.6m | €5.3m | €295,237 | ▼ 94.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€110,240 | €0 | ▲ 100% |
| Change in cash | - | €126,572 | €172,129 | €512,459 | -€1.2m | ▼ 341% |
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
2026
15-05
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
17-04
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
17-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
Financial
Highest result since 2019net €5.3m ▲225%
Net result €5.3m, the highest in the series.
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Liquidity times 12current ratio 7.78
Current ratio from 0.67 to 7.78; short-term debt falls from €1.4m to €175,714.
12-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Waregem · 1 establishment unit since 2012
Ground area
4.0 ha
Building footprint
7,286 m²
Volume, LiDAR
51,944 m³
2 parcels, Flanders · tallest building 53.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Kanaalweg(O) 13, 8710 Wielsbeke
since 20122.215.593.034
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0434/00P000 | Flanders | 2.8 ha | 1 · 6,853 m² | 53.0 m |
| 34010B0318/00E000 | Flanders | 1.2 ha | 1 · 433 m² | 13.7 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
Owners and holdings
1 holding · 3 subsidiaries in the treeOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.99%
All subsidiaries, including indirect ones 3
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
Immobra 99.99%2 subsidiaries
- BEDELEC INVEST 100%
- BRAET 99.97%
According to the annual accounts to 30-09-2025 of BRAREM and those 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 24,729 companies in sector 64210 we hold annual accounts for 19,799. 4,271 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
Founded28-12-2012
Fiscal year end30-11
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0508793209
Also
9925:BE0508793209
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.