BROUGHAM
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 23-10-2026 at the NBB all 38 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €200,000
Estimated: probably between €130,000 and €270,000
Total assets
€3.6m▼ 2.9%
2025 · €3.7m
Net result
-€73,892▼ 37.0%
2025 · -€53,948
Working capital
-€932,635▼ 6.9%
2025 · -€872,663
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€7,512
▼ 65.1%
2026
20192026
Net result
-€73,892
▼ 37.0%
2026
20192026
Equity
€2.1m
▼ 3.4%
2026
20192026
Total assets
€3.6m
▼ 2.9%
2026
20192026
Debt
€1.5m
▼ 2.2%
2026
20192026
Working capital
-€932,635
▼ 6.9%
2026
20192026
Solvency
58.1%
▼ 0.3pp
2026
20192026
Current ratio
0.10
▼ 0.09
2026
20192026
Return on assets (ROA)
-2.1%
▼ 0.6pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€0.04m--€0.04m▲ 8.6%-€0.03m▲ 18.0%-€0.02m▲ 49.3%-€0.03m▼ 68.9%€0.02m€0.02m▼ 6.7%€0.008m▼ 65.1%
Net result-€0.05m--€0.05m▲ 4.2%-€0.04mbelow the sector's middle half▲ 23.6%-€0.02mbelow the sector's middle half▲ 38.9%-€0.03mbelow the sector's middle half▼ 15.5%-€0.04mbelow the sector's middle half▼ 58.0%-€0.05mbelow the sector's middle half▼ 26.1%-€0.07m▼ 37.0%
Equity€0.1m-€0.07m▼ 41.9%€0.03mwithin the sector's middle half▼ 55.1%€0.008mbelow the sector's middle half▼ 75.0%€2.3mabove the sector's middle half▲ 289×€2.2mabove the sector's middle half▼ 1.9%€2.2mabove the sector's middle half▼ 2.4%€2.1m▼ 3.4%
Total assets€0.7m-€0.7m▼ 4.5%€0.7mwithin the sector's middle half▼ 3.9%€0.7mwithin the sector's middle half▼ 1.3%€3.4mabove the sector's middle half▲ 417%€3.6mabove the sector's middle half▲ 4.1%€3.7mabove the sector's middle half▲ 3.8%€3.6m▼ 2.9%
Debt€0.6m-€0.6m▲ 2.9%€0.6m▲ 1.8%€0.7m▲ 2.3%€1.2m▲ 78.2%€1.3m▲ 15.6%€1.5m▲ 14.1%€1.5m▼ 2.2%
Working capital-€0.2m--€0.2m▼ 11.7%-€0.2mbelow the sector's middle half▼ 6.6%-€0.2mbelow the sector's middle half▼ 8.4%-€0.3mbelow the sector's middle half▼ 26.4%-€0.9mbelow the sector's middle half▼ 242%-€0.9mbelow the sector's middle half▼ 0.7%-€0.9m▼ 6.9%
Solvency16.4%-10.0%▼ 6.4pp4.7%below the sector's middle half▼ 5.3pp1.2%below the sector's middle half▼ 3.5pp65.9%above the sector's middle half▲ 64.7pp62.2%within the sector's middle half▼ 3.8pp58.4%within the sector's middle half▼ 3.8pp58.1%▼ 0.3pp
Current ratio0.03-0.02▼ 0.010.02below the sector's middle half=0.01below the sector's middle half▼ 0.010.64within the sector's middle half▲ 0.630.02below the sector's middle half▼ 0.620.20below the sector's middle half▲ 0.170.10▼ 0.09
Return on assets (ROA)-7.2%--7.2%=-5.7%below the sector's middle half▲ 1.5pp-3.5%below the sector's middle half▲ 2.2pp-0.8%within the sector's middle half▲ 2.8pp-1.2%within the sector's middle half▼ 0.4pp-1.5%within the sector's middle half▼ 0.3pp-2.1%▼ 0.6pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 2026 is 65% lower than in 2025. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €3.6m
Fixed assets
€3.5m ▼ 0.1%
Current assets
€107,844 ▼ 49.1%
Equity and liabilities €3.6m
Equity
€2.1m ▼ 3.4%
Debt
€1.5m ▼ 2.2%
Debt's share of the balance-sheet total rises from 41.6% to 41.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€92,404▼
2025 · €100,811
Cash flow
€11,001▼
2025 · €25,318
Debt to equity
0.72▲
2025 · 0.71
ROE
-3.6%▼
2025 · -2.5%
Interest coverage
1.13▼
2025 · 1.29
Debt ≤ 1 year
€1.0m▼
2025 · €1.1m
Debt > 1 year
€450,000=
2025 · €450,000
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,193 | €2.3m | €644,519 | €21,562 | €84,095 |
| Depreciation and write-downs of the year | €23,049 | €21,429 | €64,229 | €79,266 | €84,892 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €141 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,922 | €31,922 | €29,283 | €23,049 | €21,429 | €64,229 | €79,266 | €84,892 | ▲ 7.1% |
| Other operating charges640/8 | - | - | - | €4,161 | €3,719 | €4,286 | €3,810 | €4,396 | ▲ 15.4% |
| Gross operating margin9900 | -€4,455 | -€1,731 | €2,581 | €11,579 | -€1,254 | €91,597 | €104,621 | €96,800 | ▼ 7.5% |
| Operating profit (loss)9901 | -€41,156 | -€37,625 | -€30,840 | -€15,631 | -€26,401 | €23,083 | €21,546 | €7,512 | ▼ 65.1% |
| Financial income75/76B | - | - | - | - | - | €831 | €2,453 | €677 | ▼ 72.4% |
| Recurring financial income75 | - | €0 | - | - | - | €831 | €2,453 | €677 | ▼ 72.4% |
| Financial charges65/66B | - | - | - | €7,806 | €668 | €66,689 | €77,947 | €82,081 | ▲ 5.3% |
| Recurring financial charges65 | €11,211 | €12,518 | €7,492 | €7,806 | €668 | €66,689 | €77,947 | €82,081 | ▲ 5.3% |
| Profit (loss) for the period before taxes9903 | -€52,367 | -€50,143 | -€38,331 | -€23,437 | -€27,069 | -€42,775 | -€53,948 | -€73,892 | ▼ 37.0% |
| Profit (loss) for the period9904 | -€52,367 | -€50,143 | -€38,331 | -€23,437 | -€27,069 | -€42,775 | -€53,948 | -€73,892 | ▼ 37.0% |
| Profit (loss) for the period to be appropriated9905 | -€52,367 | -€50,143 | -€38,331 | -€23,437 | -€27,069 | -€42,775 | -€53,948 | -€73,892 | ▼ 37.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €0.7m | €0.7m | €0.7m | €3.4m | €3.6m | €3.7m | €3.6m | ▼ 2.9% |
| Fixed assets21/28 | €0.7m | €0.7m | €0.7m | €0.7m | €3.0m | €3.5m | €3.5m | €3.5m | ▼ 0.1% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.7m | €3.0m | €3.5m | €3.5m | €3.5m | ▼ 0.1% |
| Land and buildings22 | - | - | - | €0.7m | €2.9m | €3.5m | €3.5m | €3.5m | ▼ 0.4% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.007m | €0.005m | €0.005m | €0.01m | ▲ 180% |
| Furniture and vehicles24 | - | - | - | - | - | €0.001m | €0.001m | €81 | ▼ 86.7% |
| Current assets29/58 | €0.004m | €0.004m | €0.004m | €0.003m | €0.5m | €0.02m | €0.2m | €0.1m | ▼ 49.1% |
| Amounts receivable within one year40/41 | - | - | - | - | €0.001m | €0.01m | €0.008m | €0.01m | ▲ 77.5% |
| Trade receivables40 | - | - | - | - | - | €0.01m | €0.008m | €0.01m | ▲ 77.5% |
| Other amounts receivable41 | - | - | - | - | €0.001m | - | - | - | - |
| Current investments50/53 | - | - | - | - | - | - | €0.2m | - | - |
| Cash at bank and in hand54/58 | €0.002m | €0.001m | €0.001m | €1 | €0.5m | €0.004m | €0.02m | €0.09m | ▲ 370% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.004m | €0.003m | ▼ 32.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €0.7m | €0.7m | €0.7m | €3.4m | €3.6m | €3.7m | €3.6m | ▼ 2.9% |
| Equity10/15 | €0.1m | €0.07m | €0.03m | €0.008m | €2.3m | €2.2m | €2.2m | €2.1m | ▼ 3.4% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Capital10 | - | - | - | €0.5m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Issued capital100 | - | - | - | €0.5m | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Legal reserve130 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Distributable reserves133 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | -€0.3m | -€0.4m | -€0.4m | -€0.5m | -€0.5m | -€0.5m | -€0.6m | -€0.7m | ▼ 12.6% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.6m | €0.7m | €1.2m | €1.3m | €1.5m | €1.5m | ▼ 2.2% |
| Amounts payable after more than one year17 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Financial debts170/4 | - | - | - | €0.5m | €0.5m | €0.5m | - | - | - |
| Other amounts payable178/9 | - | - | - | - | - | - | €0.5m | €0.5m | = |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.7m | €0.9m | €1.1m | €1.0m | ▼ 4.1% |
| Trade debts44 | €0.001m | - | - | - | €0.001m | €0.008m | €0.005m | €48 | ▼ 98.9% |
| Suppliers440/4 | - | - | - | - | €0.001m | €0.008m | €0.005m | €48 | ▼ 98.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.005m | €95 | €0.03m | €0.03m | €0.03m | ▲ 19.7% |
| Taxes450/3 | - | - | - | €0.005m | €95 | €0.03m | €0.03m | €0.03m | ▲ 19.7% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.7m | €0.8m | €1.1m | €1.0m | ▼ 4.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.009m | - | €0.01m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.05m | -€0.05m | -€0.04m | -€0.02m | -€0.03m | -€0.04m | -€0.05m | -€0.07m | ▼ 37.0% |
| + Depreciation and write-downs630 | €0.03m | €0.03m | €0.03m | €0.02m | €0.02m | €0.06m | €0.08m | €0.08m | ▲ 7.1% |
| Operating cash flow (approximation) | -€0.02m | -€0.02m | -€0.009m | -€389 | -€0.006m | €0.02m | €0.03m | €0.01m | ▼ 56.5% |
| Investment in fixed assets (approximation) | - | -€0 | -€0.002m | -€0.02m | -€2.3m | -€0.6m | -€0.02m | -€0.08m | ▼ 277% |
| Change in cash | - | -€0.001m | -€208 | -€0.001m | €0.5m | -€0.5m | €0.02m | €0.07m | ▲ 367% |
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, 8,617 companies had the same profile as BROUGHAM has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BROUGHAM itself: < 0.1% 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 8,617 companies, not a prediction for BROUGHAM. 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 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 23-10-2026 | 2026-00567315 | |
| 31-03-2025 | micro format | 28-10-2025 | 2025-00551260 | |
| 31-03-2024 | micro format | 31-10-2024 | 2024-00523724 | |
| 31-03-2023 | micro format | 25-10-2023 | 2023-00492128 | |
| 31-03-2022 | micro format | 04-11-2022 | 2022-20516021 | |
| 31-03-2021 | micro format | 04-11-2021 | 2021-76300542 | |
| 31-03-2020 | micro format | 27-11-2020 | 2020-72800075 | |
| 31-03-2019 | micro format | 24-10-2019 | 2019-71300508 | |
| 31-03-2018 | micro format | 24-10-2018 | 2018-70100253 | |
| 31-03-2017 | micro format | 31-10-2017 | 2017-69200097 |