BRS
ActiveSummary
BRS has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.4m and a net result of -€84,837. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 273 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability29=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170,000 at 30 days acceptable
short-term debt: 0.7% and cash: 5.3% of total assets, and 0.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 94
Relative position
BE, all sectors
reference
Activities of membership organisations (NACE 94)
about 92% fewer 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
99.3%
Return on assets
-3.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€84,837
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 26-05-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
71 d early
2023
56 d early
2022
62 d early
2021
67 d early
2020
65 d early
2019
63 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 64 days before the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.4m▼ 3.4%
2024 · €2.5m
Total assets
€2.4m▼ 3.6%
2024 · €2.5m
Net result
-€84,837▼ 0.1%
2024 · -€84,732
Working capital
€2.1m▼ 3.9%
2024 · €2.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€230,966▲ 163%€372,496▲ 61.3%-€106,938-€134,070▼ 25.4%-€115,199▲ 14.1%
Net result€230,720▲ 164%€372,224▲ 61.3%-€74,561-€84,732▼ 13.6%-€84,837▼ 0.1%
Equity€2.3m▲ 11.3%€2.6m▲ 16.4%€2.6m▼ 2.8%€2.5m▼ 3.3%€2.4m▼ 3.4%
Total assets€2.4m▲ 11.1%€2.7m▲ 15.9%€2.6m▼ 3.6%€2.5m▼ 4.7%€2.4m▼ 3.6%
Debt€82,212▲ 4.3%€84,180▲ 2.4%€60,950▼ 27.6%€22,506▼ 63.1%€16,295▼ 27.6%
Working capital€1.9m▲ 13.5%€2.3m▲ 19.1%€2.2m▼ 3.2%€2.2m▼ 3.8%€2.1m▼ 3.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2022 Net result +61% on 2021. Cause not known from the registers.
- 2021 Net result +164% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €115,199 in 2025 against €134,070 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€323,104 =
Current assets
€2.1m ▼ 4.2%
Equity and liabilities €2.4m
Equity
€2.4m ▼ 3.4%
Debt
€16,295 ▼ 27.6%
Debt's share of the balance-sheet total falls from 0.9% to 0.7%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.01
ROE
-3.5%▼
2024 · -3.4%
ROA
-3.5%▼
2024 · -3.4%
Debt ≤ 1 year
€16,295▼
2024 · €22,506
A ratio outside any meaningful range has been withheld (balance sheet total €2.4m, equity €2.4m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
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 < 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 8,594 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €3,746 | €4,202 | €4,192 | €10,214 | €9,329 | ▼ 8.7% |
| Gross operating margin9900 | €234,713 | €376,698 | -€102,746 | -€123,856 | -€105,869 | ▲ 14.5% |
| Operating profit (loss)9901 | €230,966 | €372,496 | -€106,938 | -€134,070 | -€115,199 | ▲ 14.1% |
| Financial income75/76B | €27 | €69 | €33,661 | €50,417 | €30,963 | ▼ 38.6% |
| Recurring financial income75 | €27 | €69 | €33,661 | €50,417 | €30,963 | ▼ 38.6% |
| Financial charges65/66B | €273 | €341 | €1,285 | €1,078 | €601 | ▼ 44.2% |
| Recurring financial charges65 | €273 | €341 | €1,285 | €1,078 | €601 | ▼ 44.2% |
| Profit (loss) for the period before taxes9903 | €230,720 | €372,224 | -€74,561 | -€84,732 | -€84,837 | ▼ 0.1% |
| Profit (loss) for the period9904 | €230,720 | €372,224 | -€74,561 | -€84,732 | -€84,837 | ▼ 0.1% |
| Profit (loss) for the period to be appropriated9905 | €230,720 | €372,224 | -€74,561 | -€84,732 | -€84,837 | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.7m | €2.6m | €2.5m | €2.4m | ▼ 3.6% |
| Fixed assets21/28 | €323,104 | €323,104 | €323,104 | €323,104 | €323,104 | = |
| Financial fixed assets28 | €323,104 | €323,104 | €323,104 | €323,104 | €323,104 | = |
| Current assets29/58 | €2.0m | €2.4m | €2.3m | €2.2m | €2.1m | ▼ 4.2% |
| Amounts receivable within one year40/41 | - | - | €9,331 | €10 | €1,197 | ▲ 11,870% |
| Trade receivables40 | - | - | €9,331 | - | - | - |
| Other amounts receivable41 | - | - | - | €10 | €1,197 | ▲ 11,870% |
| Current investments50/53 | - | - | €2.1m | €1.8m | €2.0m | ▲ 8.3% |
| Cash at bank and in hand54/58 | €2.0m | €2.4m | €228,819 | €353,639 | €128,001 | ▼ 63.8% |
| Deferred charges and accrued income490/1 | - | €3,266 | €17,151 | €28,476 | €11,879 | ▼ 58.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.7m | €2.6m | €2.5m | €2.4m | ▼ 3.6% |
| Equity10/15 | €2.3m | €2.6m | €2.6m | €2.5m | €2.4m | ▼ 3.4% |
| Contributions10/11 | - | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Capital10 | - | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Reserves13 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Profit (loss) carried forward14 | €1.1m | €1.4m | €1.4m | €1.3m | €1.2m | ▼ 6.6% |
| Amounts payable17/49 | €82,212 | €84,180 | €60,950 | €22,506 | €16,295 | ▼ 27.6% |
| Amounts payable within one year42/48 | €82,212 | €84,180 | €60,950 | €22,506 | €16,295 | ▼ 27.6% |
| Trade debts44 | €81,328 | €49,874 | €11,200 | €11,144 | €4,928 | ▼ 55.8% |
| Suppliers440/4 | €81,328 | €49,874 | €11,200 | €11,144 | €4,928 | ▼ 55.8% |
| Taxes, remuneration and social security45 | €561 | - | €5,873 | €7,223 | €5,519 | ▼ 23.6% |
| Taxes450/3 | - | - | €5,873 | €7,223 | €5,519 | ▼ 23.6% |
| Remuneration and social security454/9 | €561 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €230,720 | €372,224 | -€74,561 | -€84,732 | -€84,837 | ▼ 0.1% |
| Operating cash flow (approximation) | €230,720 | €372,224 | -€74,561 | -€84,732 | -€84,837 | ▼ 0.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €370,926 | -€2.2m | €124,820 | -€225,638 | ▼ 281% |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€84,837
Net result drops to -€84,837, the lowest in the series.
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 96.96
Current ratio from 37.82 to 96.96; short-term debt falls from €60,950 to €22,506.
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €372,224 ▲61.3%
Operating result €372,496, net result €372,224, both a record.
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2mEq €2.0m ▲4.5%
2 profitable years in a row build equity to €2.0m.
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €26,338
Net result €26,338 after one loss-making year.
Show earlier events
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2013
18-01
State Gazette act
Incorporation · Founding capital
Corporate purpose · Director appointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 25 acts read
About the unread acts
We know of 25 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
25 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, Leuven
Ground area
1,663 m²
Building footprint
1,598 m²
Parcel 24502B0852/00S000, Flanders. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24502B0852/00S000 | Flanders | 1,663 m² | 1 · 1,597 m² | - |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 287 companies in sector 94995 we hold annual accounts for 102. 69 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded19-12-1991
Fiscal year end31-12
Activities, NACEBEL 2025
94995Activities of membership organisations
85592Vocational training
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446437154
Also
9925:BE0446437154
Registered
10-03-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.