BROVEE
ActiveSummary
BROVEE has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €362,710 and a net result of €5,442. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 74% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-2
Solvency87▼-9
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.34 against 2.94 in 2024; short-term debt: 38.2% and cash: 26.1% of total assets), and 38.2% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
61.8%
Return on assets
0.9%
Age of the figures
9 mo
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
44 d early
2023
58 d early
2022
45 d early
2021
16 d early
2020
4 d early
2019
18 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 31 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#9 oldest company in Stabroek, Wholesale and retail trade sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€362,710▼ 16.1%
2024 · €432,268
Total assets
€586,587▼ 3.0%
2024 · €604,991
Net result
€5,442▼ 66.2%
2024 · €16,117
Working capital
€299,117▼ 10.8%
2024 · €335,283
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail 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€74,830▼ 43.3%€61,015▼ 18.5%€40,163▼ 34.2%€23,671▼ 41.1%€11,462▼ 51.6%
Net result€52,765within the sector's middle half▼ 44.0%€44,901within the sector's middle half▼ 14.9%€26,354within the sector's middle half▼ 41.3%€16,117within the sector's middle half▼ 38.8%€5,442within the sector's middle half▼ 66.2%
Equity€514,895within the sector's middle half▲ 0.5%€514,796within the sector's middle half=€491,150within the sector's middle half▼ 4.6%€432,268within the sector's middle half▼ 12.0%€362,710within the sector's middle half▼ 16.1%
Total assets€752,530within the sector's middle half▼ 3.1%€734,195within the sector's middle half▼ 2.4%€651,426within the sector's middle half▼ 11.3%€604,991within the sector's middle half▼ 7.1%€586,587within the sector's middle half▼ 3.0%
Debt€237,635▼ 10.0%€219,398▼ 7.7%€160,276▼ 26.9%€172,723▲ 7.8%€223,876▲ 29.6%
Working capital€443,371above the sector's middle half▲ 2.1%€402,230within the sector's middle half▼ 9.3%€363,879within the sector's middle half▼ 9.5%€335,283within the sector's middle half▼ 7.9%€299,117within the sector's middle half▼ 10.8%
Solvency68.4%above the sector's middle half▲ 2.5pp70.1%above the sector's middle half▲ 1.7pp75.4%above the sector's middle half▲ 5.3pp71.5%above the sector's middle half▼ 3.9pp61.8%within the sector's middle half▼ 9.6pp
Current ratio4.02above the sector's middle half▲ 0.133.40above the sector's middle half▼ 0.623.57above the sector's middle half▲ 0.172.94above the sector's middle half▼ 0.632.34within the sector's middle half▼ 0.61
Return on assets (ROA)7.0%within the sector's middle half▼ 5.1pp6.1%within the sector's middle half▼ 0.9pp4.0%within the sector's middle half▼ 2.1pp2.7%within the sector's middle half▼ 1.4pp0.9%within the sector's middle half▼ 1.7pp
Staff (FTE)0.8below the sector's middle half▼ 11.1%0.9below the sector's middle half▲ 12.5%0.9below the sector's middle half=0.9below the sector's middle half=0.9below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail 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
The operating result has fallen four years in a row; 2025 is 52% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €586,587
Fixed assets
€63,593 ▼ 34.4%
Current assets
€522,993 ▲ 3.0%
Equity and liabilities €586,587
Equity
€362,710 ▼ 16.1%
Debt
€223,876 ▲ 29.6%
Debt's share of the balance-sheet total rises from 28.5% to 38.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€61,211▼
2024 · €76,564
Cash flow
€55,191▼
2024 · €69,011
Quick ratio
1.34▼
2024 · 1.70
Debt to equity
0.62▲
2024 · 0.40
ROE
1.5%▼
2024 · 3.7%
Interest coverage
67.88▼
2024 · 1223.66
Debt ≤ 1 year
€223,876▲
2024 · €172,723
Income taxes
€5,118▼
2024 · €7,792
Staff costs
€36,407▲
2024 · €32,736
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
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 17,027 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 | €26,596 | €31,306 | €33,035 | €32,736 | €36,407 | ▲ 11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,650 | €39,440 | €50,183 | €52,893 | €49,749 | ▼ 5.9% |
| Other operating charges640/8 | €5,322 | €6,826 | €7,206 | €7,715 | €7,867 | ▲ 2.0% |
| Gross operating margin9900 | €145,398 | €138,587 | €130,586 | €117,015 | €105,485 | ▼ 9.9% |
| Operating profit (loss)9901 | €74,830 | €61,015 | €40,163 | €23,671 | €11,462 | ▼ 51.6% |
| Financial income75/76B | €1,962 | €630 | €51 | €301 | €0 | ▼ 100% |
| Recurring financial income75 | €1,962 | €630 | €51 | €301 | €0 | ▼ 100% |
| Financial charges65/66B | €4,086 | €2,999 | €3,211 | €63 | €902 | ▲ 1,341% |
| Recurring financial charges65 | €4,086 | €2,999 | €3,211 | €63 | €902 | ▲ 1,341% |
| Profit (loss) for the period before taxes9903 | €72,706 | €58,646 | €37,004 | €23,910 | €10,560 | ▼ 55.8% |
| Income taxes67/77 | €19,942 | €13,745 | €10,649 | €7,792 | €5,118 | ▼ 34.3% |
| Profit (loss) for the period9904 | €52,765 | €44,901 | €26,354 | €16,117 | €5,442 | ▼ 66.2% |
| Profit (loss) for the period to be appropriated9905 | €52,765 | €44,901 | €26,354 | €16,117 | €5,442 | ▼ 66.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €752,530 | €734,195 | €651,426 | €604,991 | €586,587 | ▼ 3.0% |
| Fixed assets21/28 | €162,361 | €164,539 | €146,206 | €96,985 | €63,593 | ▼ 34.4% |
| Tangible fixed assets22/27 | €162,301 | €164,479 | €146,146 | €96,985 | €62,093 | ▼ 36.0% |
| Land and buildings22 | €106,594 | €85,957 | €68,424 | €52,023 | €44,324 | ▼ 14.8% |
| Plant, machinery and equipment23 | €18,914 | €44,649 | €46,288 | €30,292 | €13,411 | ▼ 55.7% |
| Furniture and vehicles24 | €36,793 | €33,873 | €31,434 | €14,671 | €4,358 | ▼ 70.3% |
| Financial fixed assets28 | €60 | €60 | €60 | €0 | €1,500 | - |
| Current assets29/58 | €590,169 | €569,655 | €505,220 | €508,006 | €522,993 | ▲ 3.0% |
| Amounts receivable after more than one year29 | €208,250 | €172,366 | €147,471 | €132,064 | €72,588 | ▼ 45.0% |
| Other amounts receivable291 | €208,250 | €172,366 | €147,471 | €132,064 | €72,588 | ▼ 45.0% |
| Stocks and contracts in progress3 | €181,653 | €221,049 | €209,639 | €214,293 | €222,132 | ▲ 3.7% |
| Stocks30/36 | €181,653 | €221,049 | €209,639 | €214,293 | €222,132 | ▲ 3.7% |
| Amounts receivable within one year40/41 | €26,075 | €32,122 | €37,190 | €35,752 | €68,304 | ▲ 91.1% |
| Trade receivables40 | €22,721 | €21,537 | €23,439 | €16,794 | €11,014 | ▼ 34.4% |
| Other amounts receivable41 | €3,354 | €10,584 | €13,752 | €18,958 | €57,289 | ▲ 202% |
| Cash at bank and in hand54/58 | €166,727 | €135,994 | €103,415 | €118,111 | €152,915 | ▲ 29.5% |
| Deferred charges and accrued income490/1 | €7,464 | €8,125 | €7,505 | €7,787 | €7,054 | ▼ 9.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €752,530 | €734,195 | €651,426 | €604,991 | €586,587 | ▼ 3.0% |
| Equity10/15 | €514,895 | €514,796 | €491,150 | €432,268 | €362,710 | ▼ 16.1% |
| Contributions10/11 | €153,592 | €153,592 | €153,592 | €153,592 | €153,592 | = |
| Reserves13 | €361,303 | €361,204 | €337,558 | €278,676 | €209,118 | ▼ 25.0% |
| Non-distributable reserves130/1 | €3,198 | €3,198 | €3,198 | €3,198 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €3,198 | €3,198 | €3,198 | €3,198 | €0 | ▼ 100% |
| Tax-exempt reserves132 | €45,307 | €45,307 | €45,307 | €45,307 | €45,307 | = |
| Distributable reserves133 | €312,798 | €312,699 | €289,053 | €230,171 | €163,811 | ▼ 28.8% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €237,635 | €219,398 | €160,276 | €172,723 | €223,876 | ▲ 29.6% |
| Amounts payable after more than one year17 | €85,752 | €49,200 | €17,000 | €0 | - | - |
| Financial debts170/4 | €85,752 | €49,200 | €17,000 | €0 | - | - |
| Amounts payable within one year42/48 | €146,798 | €167,425 | €141,341 | €172,723 | €223,876 | ▲ 29.6% |
| Current portion of amounts payable after more than one year42 | €5,349 | €4,052 | €0 | - | - | - |
| Trade debts44 | €84,579 | €112,334 | €80,744 | €88,790 | €139,992 | ▲ 57.7% |
| Suppliers440/4 | €84,579 | €112,334 | €80,744 | €88,790 | €139,992 | ▲ 57.7% |
| Taxes, remuneration and social security45 | €5,458 | €4,112 | €3,599 | €3,683 | €3,806 | ▲ 3.4% |
| Taxes450/3 | €2,453 | €748 | €0 | - | - | - |
| Remuneration and social security454/9 | €3,005 | €3,364 | €3,599 | €3,683 | €3,806 | ▲ 3.4% |
| Other amounts payable47/48 | €51,412 | €46,926 | €56,999 | €80,250 | €80,078 | ▼ 0.2% |
| Accrued charges and deferred income492/3 | €5,085 | €2,774 | €1,935 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,765 | €44,901 | €26,354 | €16,117 | €5,442 | ▼ 66.2% |
| + Depreciation and write-downs630 | €38,650 | €39,440 | €50,183 | €52,893 | €49,749 | ▼ 5.9% |
| Operating cash flow (approximation) | €91,415 | €84,341 | €76,537 | €69,011 | €55,191 | ▼ 20.0% |
| Investment in fixed assets (approximation) | - | -€41,618 | -€31,849 | -€3,672 | -€16,357 | ▼ 345% |
| Change in cash | - | -€30,733 | -€32,578 | €14,695 | €34,804 | ▲ 137% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €5,442 ▼66.2%
Net result drops to €5,442, the lowest in the series.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €94,297 ▲237%
Operating result €131,976, net result €94,297, both a record.
31-12
Financial
Equity above €500,000Eq €512,131 ▲22.6%
3 profitable years in a row build equity to €512,131.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
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 3 acts read
About the unread acts
We know of 3 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
3 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, Stabroek · 2 establishment units since 1985
Ground area
7,867 m²
Building footprint
1,135 m²
Volume, LiDAR
6,977 m³
2 parcels, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
Rijstraat 48, 2940 Stabroek
since 19852.026.776.990
Brovee
since 20072.161.553.047
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11020K0031/00D000 | Flanders | 4,713 m² | 1 · 921 m² | 8.7 m · 2 fl. |
| 11020I0136/00S000 | Flanders | 3,154 m² | 1 · 214 m² | 10.1 m · 1 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 ownerChain of control
- MARAF
- BROVEE
Highest known parent: MARAF. The sources do not say who stands above it.
Owners 1
- MARAFparentSourceaccounts MARAF 202499.77%
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 siteStabroek2.161.553.047
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DE SERRES
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MPD AQUATIC
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Of 3,390 companies in sector 47761 we hold annual accounts for 1,156. 875 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
Founded14-03-1985
Fiscal year end31-12
Activities, NACEBEL 2025
47761Retail sale of flowers, plants, seeds and fertilisers
01620Support activities for animal production
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426947874
Also
9925:BE0426947874
Registered
21-10-2024
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.