BRIDER
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 49 filings
Turnover
≈ €920,000
Estimated: probably between €460,000 and €1.6m
Total assets
€472,125▲ 6.3%
2024 · €444,123
Net result
€54,376▲ 42.5%
2024 · €38,169
Working capital
€44,963▼ 12.5%
2024 · €51,385
In the rankings
#9 oldest company in Geel, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€71,341
▲ 38.4%
2025
20182025
Net result
€54,376
▲ 42.5%
2025
middle half of the sector
20182025
Equity
€73,595
=
2025
lowest quarter of the sector
20182025
Total assets
€472,125
▲ 6.3%
2025
middle half of the sector
20182025
Debt
€398,530
▲ 7.6%
2025
20182025
Working capital
€44,963
▼ 12.5%
2025
middle half of the sector
20182025
Solvency
15.6%
▼ 1.0pp
2025
lowest quarter of the sector
20182025
Current ratio
1.19
▼ 0.07
2025
middle half of the sector
20182025
Return on assets (ROA)
11.5%
▲ 2.9pp
2025
highest quarter of the sector
20182025
Staff (FTE)
1.1
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€26,722-€8,797▼ 67.1%-€47,806€11,645€33,106▲ 184%€47,906▲ 44.7%€51,541▲ 7.6%€71,341▲ 38.4%
Net result€45,169-€18,231▼ 59.6%-€37,899below the sector's middle half€21,506within the sector's middle half€37,754within the sector's middle half▲ 75.5%€51,066within the sector's middle half▲ 35.3%€38,169within the sector's middle half▼ 25.3%€54,376within the sector's middle half▲ 42.5%
Equity€54,937-€73,168▲ 33.2%€35,269below the sector's middle half▼ 51.8%€56,775below the sector's middle half▲ 61.0%€73,529below the sector's middle half▲ 29.5%€73,595below the sector's middle half▲ 0.1%€73,595below the sector's middle half=€73,595below the sector's middle half=
Total assets€273,296-€263,050▼ 3.7%€455,535below the sector's middle half▲ 73.2%€443,533below the sector's middle half▼ 2.6%€426,229below the sector's middle half▼ 3.9%€434,784below the sector's middle half▲ 2.0%€444,123below the sector's middle half▲ 2.1%€472,125within the sector's middle half▲ 6.3%
Debt€218,359-€189,883▼ 13.0%€420,266▲ 121%€386,758▼ 8.0%€352,700▼ 8.8%€361,189▲ 2.4%€370,528▲ 2.6%€398,530▲ 7.6%
Working capital€56,817-€73,354▲ 29.1%€27,399below the sector's middle half▼ 62.6%€39,768below the sector's middle half▲ 45.1%€58,828below the sector's middle half▲ 47.9%€56,813below the sector's middle half▼ 3.4%€51,385below the sector's middle half▼ 9.6%€44,963within the sector's middle half▼ 12.5%
Solvency20.1%-27.8%▲ 7.7pp7.7%below the sector's middle half▼ 20.1pp12.8%below the sector's middle half▲ 5.1pp17.3%below the sector's middle half▲ 4.5pp16.9%below the sector's middle half▼ 0.3pp16.6%below the sector's middle half▼ 0.4pp15.6%below the sector's middle half▼ 1.0pp
Current ratio1.39-1.55▲ 0.161.15within the sector's middle half▼ 0.391.22within the sector's middle half▲ 0.071.36within the sector's middle half▲ 0.141.31within the sector's middle half▼ 0.051.25within the sector's middle half▼ 0.061.19within the sector's middle half▼ 0.07
Return on assets (ROA)16.5%-6.9%▼ 9.6pp-8.3%below the sector's middle half▼ 15.3pp4.8%within the sector's middle half▲ 13.2pp8.9%within the sector's middle half▲ 4.0pp11.7%above the sector's middle half▲ 2.9pp8.6%within the sector's middle half▼ 3.2pp11.5%above the sector's middle half▲ 2.9pp
Staff (FTE)1.8-2▲ 11.1%1.7below the sector's middle half▼ 15.0%0.9below the sector's middle half▼ 47.1%1.1below the sector's middle half▲ 22.2%1within the sector's middle half▼ 9.1%1.1within the sector's middle half▲ 10.0%1.1within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 38% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €472,125
Fixed assets
€187,806 ▼ 1.7%
Current assets
€284,319 ▲ 12.3%
Equity and liabilities €472,125
Equity
€73,595 =
Debt
€398,530 ▲ 7.6%
Debt's share of the balance-sheet total rises from 83.4% to 84.4%. Debt is higher.
Key figures and ratios
EBITDA
€83,210▲
2024 · €62,515
Cash flow
€66,244▲
2024 · €49,143
Quick ratio
0.36▼
2024 · 0.40
Debt to equity
5.42▲
2024 · 5.03
ROE
73.9%▲
2024 · 51.9%
Interest coverage
9.92▲
2024 · 7.06
Debt ≤ 1 year
€239,356▲
2024 · €201,722
Debt > 1 year
€158,131▼
2024 · €168,597
Income taxes
€9,926▲
2024 · €6,143
Staff costs
€92,881▲
2024 · €86,753
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 2 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | - | - | 0 | 0 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1.7 |
| Average over the year, in full-time equivalents | 0.9 | 1.1 | 1 | 1.1 | 1.1 |
| On a permanent contract | 1 | 1 | 1 | 1 | 2 |
| Joined | 4 | 3 | 4 | 2 | 1 |
| Left | 4 | 3 | 4 | 2 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,138 | €8,339 | €2,280 | €5,545 | €6,849 |
| Financial fixed assets | - | - | - | - | €1,810 |
| Depreciation and write-downs of the year | €26,720 | €26,086 | €10,651 | €10,974 | €11,869 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €51,560 | €65,284 | €73,426 | €86,753 | €92,881 | ▲ 7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,911 | €18,579 | €28,963 | €26,720 | €26,086 | €10,651 | €10,974 | €11,869 | ▲ 8.2% |
| Other operating charges640/8 | - | - | - | €2,657 | €2,727 | €2,746 | €2,869 | €2,983 | ▲ 4.0% |
| Gross operating margin9900 | €154,112 | €151,549 | €81,492 | €92,581 | €127,204 | €134,729 | €152,137 | €179,074 | ▲ 17.7% |
| Operating profit (loss)9901 | €26,722 | €8,797 | -€47,806 | €11,645 | €33,106 | €47,906 | €51,541 | €71,341 | ▲ 38.4% |
| Financial income75/76B | - | - | - | €19,483 | €17,527 | €13,550 | €1,625 | €1,348 | ▼ 17.1% |
| Recurring financial income75 | €27,084 | €26,062 | €20,643 | €19,483 | €17,527 | €13,550 | €1,625 | €1,348 | ▼ 17.1% |
| Financial charges65/66B | - | - | - | €9,446 | €8,412 | €8,364 | €8,854 | €8,387 | ▼ 5.3% |
| Recurring financial charges65 | €8,296 | €7,784 | €10,585 | €9,446 | €8,412 | €8,364 | €8,854 | €8,387 | ▼ 5.3% |
| Profit (loss) for the period before taxes9903 | €45,510 | €27,075 | -€37,747 | €21,682 | €42,221 | €53,091 | €44,312 | €64,302 | ▲ 45.1% |
| Income taxes67/77 | €341 | €8,845 | €152 | €176 | €4,468 | €2,025 | €6,143 | €9,926 | ▲ 61.6% |
| Profit (loss) for the period9904 | €45,169 | €18,231 | -€37,899 | €21,506 | €37,754 | €51,066 | €38,169 | €54,376 | ▲ 42.5% |
| Profit (loss) for the period to be appropriated9905 | €45,169 | €18,231 | -€37,899 | €21,506 | €37,754 | €51,066 | €38,169 | €54,376 | ▲ 42.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €273,296 | €263,050 | €455,535 | €443,533 | €426,229 | €434,784 | €444,123 | €472,125 | ▲ 6.3% |
| Fixed assets21/28 | €70,765 | €55,525 | €248,146 | €222,564 | €204,817 | €196,445 | €191,016 | €187,806 | ▼ 1.7% |
| Tangible fixed assets22/27 | €70,634 | €55,393 | €248,015 | €222,433 | €204,686 | €196,314 | €190,885 | €185,865 | ▼ 2.6% |
| Land and buildings22 | - | - | - | €204,271 | €202,446 | €195,287 | €185,689 | €176,091 | ▼ 5.2% |
| Plant, machinery and equipment23 | - | - | - | €16,826 | €1,572 | €1,027 | €1,937 | €3,370 | ▲ 74.0% |
| Furniture and vehicles24 | - | - | - | €1,335 | €668 | €0 | €3,259 | €6,404 | ▲ 96.5% |
| Financial fixed assets28 | €131 | €131 | €131 | €131 | €131 | €131 | €131 | €1,942 | ▲ 15× |
| Current assets29/58 | €202,531 | €207,526 | €207,389 | €220,969 | €221,412 | €238,339 | €253,107 | €284,319 | ▲ 12.3% |
| Stocks and contracts in progress3 | €130,073 | €127,495 | €124,619 | €125,381 | €136,007 | €162,286 | €172,629 | €197,841 | ▲ 14.6% |
| Stocks30/36 | - | - | - | €125,381 | €136,007 | €162,286 | €172,629 | €197,841 | ▲ 14.6% |
| Amounts receivable within one year40/41 | €69,219 | €72,518 | €74,376 | €68,422 | €66,532 | €70,666 | €71,743 | €77,767 | ▲ 8.4% |
| Trade receivables40 | - | - | - | €64,141 | €58,922 | €66,351 | €67,326 | €76,491 | ▲ 13.6% |
| Other amounts receivable41 | - | - | - | €4,281 | €7,610 | €4,316 | €4,417 | €1,275 | ▼ 71.1% |
| Cash at bank and in hand54/58 | €3,023 | €5,180 | €5,095 | €23,454 | €16,272 | €623 | €5,729 | €6,217 | ▲ 8.5% |
| Deferred charges and accrued income490/1 | - | - | - | €3,711 | €2,602 | €4,763 | €3,007 | €2,494 | ▼ 17.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €273,296 | €263,050 | €455,535 | €443,533 | €426,229 | €434,784 | €444,123 | €472,125 | ▲ 6.3% |
| Equity10/15 | €54,937 | €73,168 | €35,269 | €56,775 | €73,529 | €73,595 | €73,595 | €73,595 | = |
| Contributions10/11 | €18,592 | €18,592 | €0 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €36,345 | €54,576 | €54,576 | €54,576 | €54,937 | €55,003 | €55,003 | €55,003 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €0 | - | - | - |
| Other1319 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €52,717 | €53,078 | €55,003 | €55,003 | €55,003 | = |
| Profit (loss) carried forward14 | - | - | -€37,899 | -€16,393 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €218,359 | €189,883 | €420,266 | €386,758 | €352,700 | €361,189 | €370,528 | €398,530 | ▲ 7.6% |
| Amounts payable after more than one year17 | €72,004 | €50,918 | €237,699 | €204,895 | €189,020 | €178,896 | €168,597 | €158,131 | ▼ 6.2% |
| Financial debts170/4 | - | - | - | €204,895 | €189,020 | €178,896 | €168,597 | €158,131 | ▼ 6.2% |
| Amounts payable within one year42/48 | €145,714 | €134,172 | €179,990 | €181,201 | €162,584 | €181,526 | €201,722 | €239,356 | ▲ 18.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €32,804 | €15,875 | €10,125 | €10,298 | €10,467 | ▲ 1.6% |
| Financial debts43 | - | - | - | - | €1,518 | - | - | - | - |
| Credit institutions430/8 | - | - | - | - | €1,518 | - | - | - | - |
| Trade debts44 | €30,133 | €45,581 | €49,205 | €49,463 | €57,440 | €50,622 | €56,148 | €50,167 | ▼ 10.7% |
| Suppliers440/4 | - | - | - | €49,463 | €57,440 | €50,622 | €56,148 | €50,167 | ▼ 10.7% |
| Advances received on contracts in progress46 | - | - | - | €57,000 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,136 | €7,914 | €10,478 | €9,603 | €13,936 | ▲ 45.1% |
| Taxes450/3 | - | - | - | €421 | €935 | €1,442 | €621 | €4,463 | ▲ 619% |
| Remuneration and social security454/9 | - | - | - | €1,715 | €6,979 | €9,036 | €8,982 | €9,473 | ▲ 5.5% |
| Other amounts payable47/48 | - | - | - | €39,798 | €79,838 | €110,301 | €125,673 | €164,786 | ▲ 31.1% |
| Accrued charges and deferred income492/3 | - | - | - | €661 | €1,096 | €768 | €209 | €1,044 | ▲ 400% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,169 | €18,231 | -€37,899 | €21,506 | €37,754 | €51,066 | €38,169 | €54,376 | ▲ 42.5% |
| + Depreciation and write-downs630 | €17,911 | €18,579 | €28,963 | €26,720 | €26,086 | €10,651 | €10,974 | €11,869 | ▲ 8.2% |
| Operating cash flow (approximation) | €63,081 | €36,810 | -€8,936 | €48,226 | €63,840 | €61,717 | €49,143 | €66,244 | ▲ 34.8% |
| Investment in fixed assets (approximation) | - | -€3,338 | -€221,584 | -€1,138 | -€8,339 | -€2,280 | -€5,545 | -€8,659 | ▼ 56.2% |
| Change in cash | - | €2,157 | -€85 | €18,359 | -€7,182 | -€15,649 | €5,105 | €488 | ▼ 90.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,818 companies had the same profile as BRIDER has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BRIDER itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 3,818 companies, not a prediction for BRIDER. 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.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00366782 | |
| 31-12-2024 | abbreviated format | 27-05-2025 | 2025-00113932 | |
| 31-12-2023 | abbreviated format | 08-07-2024 | 2024-00221937 | |
| 31-12-2022 | abbreviated format | 06-06-2023 | 2023-00111840 | |
| 31-12-2021 | abbreviated format | 23-09-2022 | 2022-20434280 | |
| 31-12-2020 | abbreviated format | 27-07-2021 | 2021-41300004 | |
| 31-12-2019 | abbreviated format | 28-07-2020 | 2020-35600301 | |
| 31-12-2018 | abbreviated format | 24-05-2019 | 2019-14400238 | |
| 31-12-2017 | abbreviated format | 20-06-2018 | 2018-21200195 | |
| 31-12-2016 | abbreviated format | 02-06-2017 | 2017-15000262 |