Losses
Every financial year from 2021 to 2025 closed with a loss. 2022 was the heaviest.
Every financial year from 2021 to 2025 closed with a loss. 2022 was the heaviest.
€56,237 of the debts are secured on the company's own assets. In 2024 that was €726,174.
Guarantees given for others' debts, new in 2025. 51.8% of equity · not in the 2024 accounts.
BRUCO pays its suppliers 230 days later than in 2024.
The 2025 accounts came latest: 60 days after the end of the period.
Subsidiary with negative equity. BRUCO SUD · loss of €1.4m in 2025.
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Liquidity is insufficient, with a current ratio of 0.1 (0.09 in 2024), below 1. Short-term debt is 46.6% and cash 0.6% of total assets. 70.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 19 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Shares in 3 companies, including BRUCO TRANSPORT and BRUCO CONTAINERS
Board & ownershipBRUCO 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 €3.0m and a net result of -€14,664.
Equity has been stable since 2019 (±0.7% per year). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Amounts without an identifiable currency are taken as euros.
Not in that year's accounts.
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
10.4m | 10.3m | 10.4m | 10.7m | 10.7m | 10.8m | 10.3m | 10.1m | 10.1m | 10.4m | |
20 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
21/28 |
9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.8m | 9.3m | 9.3m | 9.3m | |
21 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
22 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
24 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
26 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
27 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
28 |
9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.8m | 9.3m | 9.3m | 9.3m | |
280/1 |
9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.8m | 9.3m | 9.3m | 9.3m | |
280 |
9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.9m | 9.8m | 9.3m | 9.3m | 9.3m | |
281 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
282/3 |
- | - | - | - | 0 | 0 | 0 | 0 | - | - | |
282 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
283 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
284 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
285/8 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
29/58 |
488,152 | 433,249 | 485,349 | 780,528 | 808,560 | 975,796 | 550,875 | 800,765 | 852,192 | 1.1m | |
290 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
291 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
3 |
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | |
30/31 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
32 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
33 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
34 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
35 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
36 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
37 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
40/41 |
426,765 | 425,896 | 423,466 | 520,826 | 518,527 | 783,408 | 524,310 | 469,106 | 218,008 | - | |
40 |
1,123 | 1,123 | 0 | 143,546 | 143,546 | 469,721 | 411,773 | 469,050 | 217,975 | - | |
41 |
425,642 | 424,773 | 423,466 | 377,280 | 374,981 | 313,687 | 112,537 | 56 | 33 | - | |
50 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
51/53 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
54/58 |
61,387 | 7,353 | 61,883 | 259,702 | 290,033 | 192,189 | 26,565 | 321,659 | 622,185 | 1.1m | |
490/1 |
- | - | - | - | 0 | 199 | 0 | 10,000 | 12,000 | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
10.4m | 10.3m | 10.4m | 10.7m | 10.7m | 10.8m | 10.3m | 10.1m | 10.1m | 10.4m | |
10/15 |
3.0m | 3.0m | 3.1m | 3.1m | 3.2m | 3.2m | 3.2m | 3.2m | 3.1m | 3.0m | |
10/11 |
3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | |
10 |
3.3m | 3.3m | 3.3m | 3.3m | - | - | - | - | - | - | |
100 |
3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | 3.3m | |
101 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
11 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
1100/10 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
1109/19 |
- | - | - | - | - | 0 | - | - | - | - | |
12 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
130 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
1311 |
- | - | - | - | - | 0 | - | - | - | - | |
1312 |
- | - | - | - | - | - | 0 | 0 | - | - | |
1313 |
- | - | - | - | - | 0 | - | - | - | - | |
1319 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
132 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
133 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
14 |
-217,956 | -203,292 | -168,397 | -135,947 | -95,269 | -77,058 | -81,056 | -96,851 | -106,112 | -210,444 | |
15 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
19 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
160 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
161 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
162 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
163 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
164/5 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
168 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
17/49 |
7.3m | 7.3m | 7.3m | 7.5m | 7.5m | 7.7m | 7.2m | 6.9m | 7.0m | 7.4m | |
17 |
2.5m | 2.6m | 3.6m | 4.2m | 4.9m | 5.1m | 5.6m | 6.2m | 6.3m | 6.4m | |
170/4 |
2.5m | 2.6m | 3.6m | 4.2m | 4.9m | 5.1m | 5.2m | 5.5m | 6.0m | 6.4m | |
170 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
171 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
172 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
173 |
0 | 56,237 | 1.1m | 1.7m | 2.4m | 2.6m | 3.2m | 1.5m | 2.0m | 2.4m | |
174 |
2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.5m | 2.0m | 4.0m | 4.0m | 4.0m | |
1750 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
1751 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
176 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
178/9 |
- | - | - | - | - | 0 | 410,103 | 644,784 | 304,328 | - | |
42/48 |
4.8m | 4.7m | 3.7m | 3.3m | 2.7m | 2.5m | 1.5m | 756,575 | 723,416 | 623,521 | |
42 |
56,237 | 669,937 | 656,515 | 647,716 | 639,197 | 721,520 | 570,312 | 436,923 | 436,923 | 436,923 | |
430/8 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
439 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
44 |
6,327 | 822 | 919 | 402 | 8,559 | 32,533 | 147,491 | 22,392 | 104,720 | 63,043 | |
440/4 |
6,327 | 822 | 919 | 402 | 8,559 | 32,533 | 147,491 | 22,392 | 104,720 | 63,043 | |
441 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
46 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
45 |
- | - | - | - | 0 | 73,171 | 48,405 | 26,944 | 40,002 | 25,784 | |
450/3 |
- | - | - | - | 0 | 21,469 | 2,573 | 15,521 | 33,512 | 25,784 | |
454/9 |
- | - | - | - | 0 | 51,702 | 45,832 | 11,423 | 6,490 | - | |
47/48 |
4.8m | 4.0m | 3.1m | 2.7m | 2.0m | 1.7m | 768,212 | 270,316 | 141,771 | 97,771 | |
492/3 |
- | - | - | - | - | 0 | 4,271 | 11,432 | 8,812 | 333,210 | |
| Income statement | |||||||||||
70/76A |
- | - | - | 0 | 43,663 | 611,566 | 888,680 | 719,524 | 719,049 | 510,000 | |
70 |
- | - | - | - | 0 | 603,000 | 880,000 | 717,500 | 717,500 | 510,000 | |
71 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
72 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
74 |
- | - | - | 0 | - | - | - | - | - | - | |
76A |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
60/66A |
7,784 | 3,867 | 3,781 | 3,513 | 15,596 | 545,822 | 597,840 | 334,988 | 258,733 | 362,851 | |
600/8 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
609 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
61 |
6,831 | 2,782 | 2,741 | 2,691 | 12,837 | 191,425 | 281,913 | 237,428 | 215,959 | 356,677 | |
62 |
- | - | - | 0 | 1,653 | 353,402 | 315,229 | 96,402 | 42,074 | - | |
630 |
- | - | - | - | - | 0 | 0 | 0 | - | 5,499 | |
631/4 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
635/8 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
640/8 |
953 | 1,086 | 1,039 | 822 | 1,107 | 995 | 698 | 1,158 | 700 | 675 | |
649 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
66A |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
9901 |
-7,784 | -3,867 | -3,781 | -3,513 | 28,066 | 65,744 | 290,840 | 384,536 | 460,316 | 147,149 | |
75/76B |
- | - | 27 | - | - | 0 | 57 | 0 | 26 | - | |
75 |
- | - | 27 | - | - | 0 | 57 | 0 | 26 | - | |
750 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
751 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
752/9 |
- | - | 27 | - | - | 0 | 57 | 0 | 26 | - | |
76B |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
65/66B |
6,880 | 7,028 | 28,696 | 37,165 | 46,277 | 60,752 | 274,095 | 375,047 | 355,916 | 357,593 | |
65 |
6,880 | 7,028 | 28,696 | 37,165 | 46,277 | 60,752 | 274,095 | 375,047 | 355,916 | 357,593 | |
650 |
5,973 | 6,407 | 28,283 | 36,923 | 44,885 | 60,279 | 271,329 | 374,826 | 355,815 | 357,235 | |
651 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
652/9 |
907 | 621 | 413 | 242 | 1,392 | 473 | 2,766 | 220 | 101 | 358 | |
66B |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
9903 |
-14,664 | -10,895 | -32,450 | -40,678 | -18,211 | 4,992 | 16,802 | 9,489 | 104,426 | -210,444 | |
67/77 |
- | - | - | - | 0 | 994 | 1,007 | 229 | 94 | - | |
670/3 |
- | - | - | - | 0 | 994 | 1,007 | 229 | 94 | - | |
77 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
9904 |
-14,664 | -10,895 | -32,450 | -40,678 | -18,211 | 3,998 | 15,795 | 9,261 | 104,332 | -210,444 | |
789 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
689 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
9905 |
-14,664 | -10,895 | -32,450 | -40,678 | -18,211 | 3,998 | 15,795 | 9,261 | 104,332 | -210,444 | |
| Appropriation of the result | |||||||||||
9906 |
-217,956 | -203,292 | -168,397 | -135,947 | -95,269 | -77,058 | -81,056 | -96,851 | -106,112 | -210,444 | |
14P |
-203,292 | -192,397 | -135,947 | -95,269 | - | - | - | - | - | - | |
791 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
792 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
691 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
6920 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
6921 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
694 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
695 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
696 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
| Social balance sheet | |||||||||||
9087 |
- | - | - | - | 0 | 3 | 3 | 1.4 | 0.5 | - | |
Men (FTE)1003 |
- | - | - | - | - | 2 | 1.8 | 0.3 | - | - | |
Women (FTE)1003 |
- | - | - | - | - | 1 | 1.2 | 1.1 | - | - | |
Agency workers1501 |
- | - | - | - | - | 0 | 0 | 0 | - | - | |
Hours worked1013 |
- | - | - | - | 0 | 4,808 | 5,175 | 2,480 | 888 | - | |
| Document | |||||||||||
The notes to these accounts have 29 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-09-2026.
2025 annual accounts filed 60 days after the deadline. Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00532600.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 29-09-2026 | 2026-00532600 | |
| 31-12-2024 | full format | 31-07-2025 | 2025-00335986 | |
| 30-06-2024 | full format | 13-03-2025 | 2025-00047280 | |
| 30-06-2023 | full format | 26-01-2024 | 2024-00007258 | |
| 30-06-2022 | full format | 28-02-2023 | 2023-00032524 | |
| 30-06-2021 | full format | 27-01-2022 | 2022-02500145 | |
| 30-06-2020 | full format | 10-02-2021 | 2021-05100054 | |
| 30-06-2019 | full format | 05-03-2020 | 2020-06400030 | |
| 30-06-2018 | full format | 11-01-2019 | 2019-00800581 | |
| 30-06-2017 | full format | 21-12-2017 | 2017-72400490 | |
| 30-06-2016 | full format | 12-01-2017 | 2017-00900150 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | 65,744 | 290,840 | 384,536 | - | 152,648 | ||
| - | - | - | - | - | 3,998 | 15,795 | 9,261 | - | -204,945 | ||
| - | - | - | - | - | 80,309 | 0 | 0 | - | 9.3m | ||
| 54,035 | -54,530 | -197,819 | -30,332 | 97,845 | 165,623 | -295,094 | -300,526 | -482,774 | - | ||
| -4.3m | -4.3m | -3.2m | -2.5m | -1.9m | -1.6m | -983,544 | 44,190 | 128,776 | 481,438 | ||
| - | - | - | - | - | 10.9% | 33.0% | 53.6% | 64.2% | 28.9% | ||
| 29.3% | 29.6% | 29.7% | 29.2% | 29.5% | 29.2% | 30.6% | 31.2% | 31.0% | 29.2% | ||
| 0.10 | 0.09 | 0.13 | 0.23 | 0.30 | 0.39 | 0.36 | 1.06 | 1.18 | 1.77 | ||
| 2.42 | 2.38 | 2.36 | 2.42 | 2.39 | 2.42 | 2.26 | 2.20 | 2.23 | 2.42 | ||
| -0.5% | -0.4% | -1.1% | -1.3% | -0.6% | 0.1% | 0.5% | 0.3% | 3.3% | -6.9% | ||
| -0.1% | -0.1% | -0.3% | -0.4% | -0.2% | 0.0% | 0.2% | 0.1% | 1.0% | -2.0% | ||
| - | - | - | - | - | 1.09 | 1.07 | 1.03 | - | 0.43 | ||
| - | - | - | - | - | 284 days | 171 days | 239 days | 111 days | - | ||
| 338 days | 108 days | 122 days | 55 days | 243 days | 62 days | 191 days | 34 days | 177 days | 65 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €56,237 | €726,174 | €1.1m | - | - |
| Pledge on other assets, amount secured | - | €726,174 | €1.1m | €1.7m | €2.4m |
| Carrying value of the other pledged assets | - | €9.3m | €9.3m | €9.3m | €9.3m |
| €1.6m | - | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
The auditor is Moore Audit.
| Item | 2025 | 2024 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|---|
| Fee for the audit | €5,000 | - | €1,680 | €1,620 | €1,500 |
Source: notes to the 2022 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is a loss of €7,784, larger than the loss of €3,867 in 2024. It is the lowest result since 2016.
Debt's share of the balance-sheet total rises from 70.4% to 70.7%. Equity is lower and debt is higher.
Deed of 18-12-2025Appointment: Moore Audit BV (statutory auditor)Permanent representative: Kevin Gevels · General meeting of 05-11-2025
Further up the chainALTURA 100%
Source: parent in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
Part of the group ALTURA Group, risk and exposure| ELA INVEST via Eric Electeur, at BRUCO until 2025 · Director (not named in the articles) · deed of 02-05-2024 founded in 2018 · negative equity (2025) |
total assets €17.6m (2025) |
| ATELIER MILLEVACHES via Eric Electeur, at BRUCO until 2025 · Director · deed of 30-06-2023 founded in 2015 · negative equity (2023) |
26 FTE (2023) |
| AMV 2 via Eric Electeur, at BRUCO until 2025 · Director · deed of 01-10-2020 founded in 2020 · negative equity (2024) · accounts filed late |
9.5 FTE (2024) |
| Ela via Eric Electeur, at BRUCO until 2025 · Director (not named in the articles) · deed of 23-01-2024 founded in 2016 |
total assets €5.8m (2025) |
| Newmo Westerlo via Eric Electeur, at BRUCO until 2025 · Director · deed of 17-08-2026 founded in 1998 · group AERTSSEN GROUP |
total assets €1.8m (2025) |
| HIGH STARS COMPANY via Eric Electeur, at BRUCO until 2025 · Director · deed of 22-01-2025 No longer active · founded in 1973 |
total assets €31.2m (2024) |
Source for every holding own accounts 2025
| Name | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| BRUCO TRANSPORT | 99.88% | 100% | ||||||||
| BRUCO CONTAINERS | 99.98% | |||||||||
| BRUCO SUD | 99.8% | |||||||||
Source: list of holdings in its own accounts
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Venhof 3-5 registered office 2110 Wijnegem 7010001 Activities of head offices | 16-07-2015 | 2.243.792.419 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11050A0046/00T000 | 5,066 m² | 1 · 3,901 m² | 13.2 m · 4 |
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