Losses
-€15,959 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
BSF
Lifetime
7 annual accounts with figures on one time axispeak €167,676 (2023)
€142,091▲ 28.1%
lowest -€11,356 (2022)
-€5,528▲ €4,903
peak €27,493 (2021)
€7,286▼ 43.1%
€253,377▼ 18.8%
Board3 names since 2019
2 directorsVanhollebeke Frederik and 1 other
Documentsfilings and deeds
23-06-202638 days before the deadline
2025micro format
Gross margin from €110,916 to €142,091Loss of €5,528Equity from €12,814 to €7,286Debts from €312,113 to €253,377Cash from €7,446 to €2,197
Key points
from the 2025 annual accountsTurnover
≈ €530,000 estimated
The micro format states no turnover.
Debts
€253,377 97% of the balance sheet
Financial debts 24%Suppliers 23%Taxes and wages 11%Other 43%
Of this, €187,180 falls due within a year.
Staff
2 employees on 31-12-2025
In 2025, 1 person joined and 1 left.
Filings
7 annual accounts 1 late
The 2022 accounts came 9 days late. The other six were filed on time.
Position in the sector
2.8%
Lower solvency than 90% of companies in specialised construction. Sector median 46.7% · 35,125 companies.
Checked score
62
Healthy
Financially stronger than 12% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024lowest value
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.7%▲ +0.1 percentage points vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025
08-2025: 1.4%▲ +0.6 percentage points vs 07-2025
09-2025: 1.4%● unchanged vs 08-2025
10-2025: 1.4%● unchanged vs 09-2025
11-2025: 1.4%● unchanged vs 10-2025
12-2025: 1.4%● unchanged vs 11-2025
01-2026: 1.3%▼ -0.1 percentage points vs 12-2025
02-2026: 1.3%● unchanged vs 01-2026
03-2026: 1.3%● unchanged vs 02-2026
04-2026: 1.4%▲ +0.1 percentage points vs 03-2026
05-2026: 1.4%● unchanged vs 04-2026
06-2026: 1.3%▼ -0.1 percentage points vs 05-2026
07-2026: 1.4%▲ +0.1 percentage points vs 06-2026
08-2026: 1.5%▲ +0.1 percentage points vs 07-2026
09-2026: 1.8%▲ +0.3 percentage points vs 08-2026highest value
10-2026: 1.3%▼ -0.5 percentage points vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
Equity €7,286 (2.8% of total assets)
Liquidity: current ratio 0.66, cash €2,197, halved
lowers risk
Size: total assets €260,662
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 10% of them on solvency, 7% on liquidity, 22% on profitability and 10% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 849 companies had the same profile as BSF has now. Each dot stands for 3 companies, two years later.
91.9%
were still trading
3.3%
stopped another way
4.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BSF itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,447 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 849 companies, not a prediction for BSF. 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
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
19202122232425
2019 to 2025 · latest year -€5,528
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 35125 sector peers (2025).
NBB · sector comparisonPosition among 35125 sector peers
Solvency
better than 10%
← weakest
strongest →
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 23-06-2026, 38 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
38 days early
2024
9 days early
2023
13 days early
2022
9 days late
2021
27 days early
2020
2 days early
2019
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Changes of role: Vanhollebeke Frederik (director) and Vanhollebeke Stefan (director)
Gazette deed
Resignation: Kemp Barbara (manager)
General meeting of 20-12-2019 · Gazette deed
Incorporation
published on 06-06-2018 · Gazette deed
2 establishments registered
Oudenaarde and Izegem
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BSF Oudenaarde | €260,662 | €142,091 | 2.8% | - |
| ALU SOLUTIONS CARLO Oudenaarde | €264,851 | €124,403 | 70.3% | - |
| GauVan Oudenaarde | €328,251 | €143,202 | 49.3% | - |
| BVBA DSK & ZOON Zottegem | €305,907 | €133,579 | 19.1% | - |
| De Somviele Lievegem | €309,596 | €127,883 | 36.9% | 2 |
| WOODexpert Aalst | €255,793 | €151,057 | 65.8% | - |
| Binnenin Evergem | €242,278 | €112,584 | 47.9% | - |
These companies have the same main activity as BSF: joinery installation (NACE 43320). They are comparable in size and age: total assets between €242,000 and €328,000, founded between 2017 and 2019.
Official details
Source: KBO- Status
- Active since 04-06-2018Normal situation
- Activity
- Joinery installationNACE 43320and 2 others
- Joint committees
- 200Auxiliary committee for white-collar workers
- 126Furnishing and woodworking · annual accounts 2021
- Establishment units
- 2.276.761.7299700 Oudenaarde, since 04-06-2018
- 2.280.398.3388870 Izegem, since 04-06-2018
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €260,662▼ 19.8%
- Employeeson 31-12-2025
- 2=
- Filing
- Filed on 23-06-2026, 38 days before the end of the filing period
Insights on BSF
BSF files the micro format. That format states no turnover. The gross margin rose from €9,957 in 2019 to €142,091 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BSF
- What is the company number of BSF?
- The company number of BSF is 0697.613.904. The VAT number is the same number with BE in front: BE 0697.613.904.
- Where is BSF based?
- The registered office is at Rekkemstraat 119, 9700 Oudenaarde.Company details
- What does BSF do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of BSF?
- BSF is a private limited company (BV).
- When was BSF founded?
- BSF was founded on 04-06-2018.
- Is BSF still active?
- Yes, BSF is an active enterprise in the KBO register.
- How many employees does BSF have?
- BSF had an average of 2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BSF fall under?
- In its 2021 annual accounts, BSF states joint committees 200 (Auxiliary committee for white-collar workers) and 126 (Furnishing and woodworking).
- What is the turnover of BSF?
- The turnover in financial year 2025 is ≈ €530,000. This figure is estimated from the gross margin of €142,091 and 36 comparable companies (NACE 43320). It probably lies between €380,000 and €730,000.
- Is BSF profitable?
- In financial year 2025, BSF made a loss of €5,528.
- Where can I find the annual accounts of BSF?
- BSF filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BSF due?
- BSF must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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