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BRUWAT

Active
Public limited companyfounded 20214 yrs activePlace de St Symphorien 24, 7030 Mons, BelgiumKBO/BCE: BE 0776.533.005
Summary

The computed 12-month bankruptcy probability of BRUWAT is 2.0% (moderate). The 2025 annual accounts show equity of €44,278 and a net result of -€9,185. Equity is shrinking by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 90% of 663 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability0▼-12
Solvency100=
Growth32=
Track record94
Bankruptcy probability, 12 months
2.0% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 5.68 against 22.62 in 2024; short-term debt: 17.5% and cash: 1.1% of total assets), and 17.5% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 4 years 0 10 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
82.5%
Return on assets
-17.1%
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 2025
Net result per financial year
22232425
2022 to 2025 · latest year -€9,185
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 14-07-2026, 17 days ahead of the deadline.
NBB · 4 filings
Deviation from the deadline
2025
17 d early
2024
on the day
2023
15 d early
2022
17 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 4 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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. Usually files around 16 July (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 26 October 2021, BRUWAT was incorporated as a Public limited company.1 Total assets went from EUR 60,621 in 2022 to EUR 53,686 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2022 and 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€9,185▼ 208%
2024 · -€2,983
Working capital
€43,990▼ 16.8%
2024 · €52,887
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Line2022202320242025
Operating result-€3,235--€2,919▲ 9.8%-€3,033▼ 3.9%-€10,600▼ 249%
Net result-€2,686within the sector's middle half--€2,369below the sector's middle half▲ 11.8%-€2,983below the sector's middle half▼ 25.9%-€9,185below the sector's middle half▼ 208%
Equity€58,814below the sector's middle half-€56,445below the sector's middle half▼ 4.0%€53,463below the sector's middle half▼ 5.3%€44,278below the sector's middle half▼ 17.2%
Total assets€60,621below the sector's middle half-€58,245below the sector's middle half▼ 3.9%€55,909below the sector's middle half▼ 4.0%€53,686below the sector's middle half▼ 4.0%
Debt€1,807-€1,800▼ 0.4%€2,446▲ 35.9%€9,408▲ 285%
Working capital€57,670within the sector's middle half-€55,582within the sector's middle half▼ 3.6%€52,887within the sector's middle half▼ 4.8%€43,990within the sector's middle half▼ 16.8%
Solvency97.0%above the sector's middle half-96.9%above the sector's middle half▼ 0.1pp95.6%above the sector's middle half▼ 1.3pp82.5%above the sector's middle half▼ 13.1pp
Current ratio33.04above the sector's middle half-31.88above the sector's middle half▼ 1.1622.62above the sector's middle half▼ 9.265.68above the sector's middle half▼ 16.94
Return on assets (ROA)-4.4%below the sector's middle half--4.1%below the sector's middle half▲ 0.4pp-5.3%below the sector's middle half▼ 1.3pp-17.1%below the sector's middle half▼ 11.8pp
Staff (FTE)0below the sector's middle half
above within below the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€15,000-€10,000-€5,000€0Operating result 2022: -€3,235-€3,235Net result 2022: -€2,686-€2,686Operating result 2023: -€2,919-€2,919Net result 2023: -€2,369-€2,369Operating result 2024: -€3,033-€3,033Net result 2024: -€2,983-€2,983Operating result 2025: -€10,600-€10,600Net result 2025: -€9,185-€9,1852022202320242025-€15,000-€10,000-€5,000€0Operating result 2023: -€2,919-€2,920Net result 2023: -€2,369-€2,370Operating result 2024: -€3,033-€3,030Net result 2024: -€2,983-€2,980Operating result 2025: -€10,600-€10,600Net result 2025: -€9,185-€9,180202320242025
The operating result stays negative: a loss of €10,600 in 2025 against €3,033 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €53,686
Equity €44,278 ▼ 17.2%
Debt €9,408 ▲ 285%
Debt's share of the balance-sheet total rises from 4.4% to 17.5%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€10,312▼
2024 · -€2,746
Cash flow
-€8,897▼
2024 · -€2,695
Debt to equity
0.21▲
2024 · 0.05
ROE
-20.7%▼
2024 · -5.6%
Interest coverage
-33.67▼
2024 · -11.16
Debt ≤ 1 year
€9,408▲
2024 · €2,446
Income taxes
-€500▼
2024 · €500
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,227 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 87% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
2.9% went bankrupt
8.6% stopped otherwise
87% still going

A further 1.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 2.0% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 3,227 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 33 lines
Balance sheet Code20242025
Assets
Total assets20/58€55,909€53,686▼
Formation expenses20€575€288▼
Current assets29/58€55,333€53,398▼
Amounts receivable within one year40/41€55,140€52,514▼
Other amounts receivable41€55,140€52,514▼
Cash at bank and in hand54/58-€600
Deferred charges and accrued income490/1€193€284▲
Equity and liabilities
Total equity and liabilities10/49€55,909€53,686▼
Equity10/15€53,463€44,278▼
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€8,038-€17,222▼
Amounts payable17/49€2,446€9,408▲
Amounts payable within one year42/48€2,446€9,408▲
Trade debts44€2,446€6,808▲
Suppliers440/4€2,446€6,808▲
Other amounts payable47/48-€2,600
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€288€288=
Other operating charges640/8€355€771▲
Gross operating margin9900-€2,390-€9,542▼
Operating profit (loss)9901-€3,033-€10,600▼
Financial income75/76B€797€1,222▲
Recurring financial income75€797€1,222▲
Financial charges65/66B€246€306▲
Recurring financial charges65€246€306▲
Profit (loss) for the period before taxes9903-€2,483-€9,685▼
Income taxes67/77€500-€500▼
Profit (loss) for the period9904-€2,983-€9,185▼
Profit (loss) for the period to be appropriated9905-€2,983-€9,185▼
Appropriation of the result
Profit (loss) to be appropriated9906-€8,038-€17,222▼
Profit (loss) brought forward from the previous period14P-€5,055-€8,038▼
Social balance
Average headcount (FTE)9087-0.0

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€288€288€288€288=
Other operating charges640/8-€200€355€771▲ 117%
Non-recurring operating charges66A€300----
Gross operating margin9900-€2,648-€2,432-€2,390-€9,542▼ 299%
Operating profit (loss)9901-€3,235-€2,919-€3,033-€10,600▼ 249%
Financial income75/76B€876€797€797€1,222▲ 53.3%
Recurring financial income75€876€797€797€1,222▲ 53.3%
Financial charges65/66B€327€246€246€306▲ 24.5%
Recurring financial charges65€327€246€246€306▲ 24.5%
Profit (loss) for the period before taxes9903-€2,686-€2,369-€2,483-€9,685▼ 290%
Income taxes67/77--€500-€500▼ 200%
Profit (loss) for the period9904-€2,686-€2,369-€2,983-€9,185▼ 208%
Profit (loss) for the period to be appropriated9905-€2,686-€2,369-€2,983-€9,185▼ 208%
Line2022202320242025Change
Assets
Total assets20/58€60,621€58,245€55,909€53,686▼ 4.0%
Formation expenses20€1,151€863€575€288▼ 50.0%
Current assets29/58€59,470€57,382€55,333€53,398▼ 3.5%
Amounts receivable within one year40/41€56,594€57,178€55,140€52,514▼ 4.8%
Other amounts receivable41€56,594€57,178€55,140€52,514▼ 4.8%
Cash at bank and in hand54/58€2,000--€600-
Deferred charges and accrued income490/1€876€204€193€284▲ 46.9%
Equity and liabilities
Total equity and liabilities10/49€60,621€58,245€55,909€53,686▼ 4.0%
Equity10/15€58,814€56,445€53,463€44,278▼ 17.2%
Contributions10/11€61,500€61,500€61,500€61,500=
Capital10€61,500€61,500€61,500€61,500=
Issued capital100€61,500€61,500€61,500€61,500=
Profit (loss) carried forward14-€2,686-€5,055-€8,038-€17,222▼ 114%
Amounts payable17/49€1,807€1,800€2,446€9,408▲ 285%
Amounts payable within one year42/48€1,800€1,800€2,446€9,408▲ 285%
Trade debts44€1,800€1,800€2,446€6,808▲ 178%
Suppliers440/4€1,800€1,800€2,446€6,808▲ 178%
Other amounts payable47/48---€2,600-
Accrued charges and deferred income492/3€7----
Line2022202320242025Change
Profit (loss) for the period9904-€2,686-€2,369-€2,983-€9,185▼ 208%
+ Depreciation and write-downs630€288€288€288€288=
Operating cash flow (approximation)-€2,398-€2,081-€2,695-€8,897▼ 230%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
14-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial Weakest financial yearnet -€9,185
Net result drops to -€9,185, the lowest in the series.
31-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
16-07
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
14-07
NBB filing Annual accounts filed
fiscal year 2022 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts

We know of 2 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
2 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, Mons · 1 establishment unit since 2022
Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Place de St Symphorien 247030 Mons
1 establishment unit
BRUWAT
Place de St Symphorien 24, 7030 MonsArtisanal bread and fresh pastry making
since 20222.327.364.352

Structure & network

Part of the group TRADITIONAL BREAD BELGIUM 32 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. TRADITIONAL BREAD BELGIUM 100%
  2. BRUWAT

Highest known parent: TRADITIONAL BREAD BELGIUM. The sources do not say who stands above it.

Owners 1

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.

Similar companies · same sector, comparable size

Of 4,230 companies in sector 10712 we hold annual accounts for 1,875. 1,510 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded26-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
47241Retail sale of bread and pastry (bakery outlets)
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0776533005
Registered 15-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.