BSF
ActiveSummary
The computed 12-month bankruptcy probability of BSF is 2.1% (moderate). The 2024 annual accounts show equity of €13k and a net result of €-10k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 11% of 36375 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability56▼-12
Solvency29▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.63 against 0.8 in 2023; short-term debt: 66.6% and cash: 2.3% of total assets), and 96.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
3.9%
Return on assets
-3.2%
Age of the figures
21 mo
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 dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
13 d early
2022
9 d late
2021
27 d early
2020
2 d early
2019
15 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€13k▼ 44.9%
2023 · €23k
2019: €9klowest in 6 years
2020: €14k▲ +45.9% vs 2019
2021: €27k▲ +100% vs 2020highest in 6 years
2022: €16k▼ -41.3% vs 2021
2023: €23k▲ +44.0% vs 2022
2024: €13k▼ -44.9% vs 2023
2019 → 2024
Total assets
€325k▼ 29.3%
2023 · €459k
2019: €352k
2020: €375k▲ +6.4% vs 2019
2021: €381k▲ +1.7% vs 2020
2022: €450k▲ +18.1% vs 2021
2023: €459k▲ +2.0% vs 2022highest in 6 years
2024: €325k▼ -29.3% vs 2023lowest in 6 years
2019 → 2024
Net result
€-10k
2023 · €7k
2019: €-11k
2020: €4k▲ +141% vs 2019
2021: €14k▲ +219% vs 2020highest in 6 years
2022: €-11k▼ -182% vs 2021lowest in 6 years
2023: €7k▲ +163% vs 2022
2024: €-10k▼ -247% vs 2023
2019 → 2024
Working capital
€-81k▼ 43.8%
2023 · €-56k
2019: €-116k
2020: €-137k▼ -18.0% vs 2019lowest in 6 years
2021: €-132k▲ +4.0% vs 2020
2022: €-88k▲ +32.8% vs 2021
2023: €-56k▲ +36.6% vs 2022highest in 6 years
2024: €-81k▼ -43.8% vs 2023
2019 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€14k-€27k▲ 100%€16k▼ 41.3%€23k▲ 44.0%€13k▼ 44.9%
2020: €14k
2021: €27k▲ +100% vs 2020highest in 5 years
2022: €16k▼ -41.3% vs 2021
2023: €23k▲ +44.0% vs 2022
2024: €13k▼ -44.9% vs 2023lowest in 5 years
Operating result€7k-€16k▲ 115%€-7k€19k€-214
2020: €7k
2021: €16k▲ +115% vs 2020
2022: €-7k▼ -146% vs 2021lowest in 5 years
2023: €19k▲ +364% vs 2022highest in 5 years
2024: €-214▼ -101% vs 2023
Net result€4k-€14k▲ 219%€-11k€7k€-10k
2020: €4k
2021: €14k▲ +219% vs 2020highest in 5 years
2022: €-11k▼ -182% vs 2021lowest in 5 years
2023: €7k▲ +163% vs 2022
2024: €-10k▼ -247% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €214 after €19k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €325k
Fixed assets
€189k ▼ 20.7%
Current assets
€136k ▼ 38.5%
Equity and liabilities €325k
Equity
€13k ▼ 44.9%
Debt
€312k ▼ 28.4%
Debt's share of the balance-sheet total rises from 94.9% to 96.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€49k▼
2023 · €71k
Cash flow
€39k▼
2023 · €59k
Current ratio
0.63▼
2023 · 0.80
Quick ratio
0.29▼
2023 · 0.55
Debt to equity
24.36▲
2023 · 18.76
ROE
-81.4%▼
2023 · 30.6%
ROA
-3.2%▼
2023 · 1.5%
Interest coverage
5.00▼
2023 · 5.70
Debt ≤ 1 year
€216k▼
2023 · €277k
Debt > 1 year
€91k▼
2023 · €156k
Staff costs
€61k▼
2023 · €94k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 53 lines
Balance sheet
Code20232024
Assets
Total assets20/58€459k€325k▼
Formation expenses20€68-
Fixed assets21/28€238k€189k▼
Intangible fixed assets21€33k€27k▼
Tangible fixed assets22/27€198k€154k▼
Plant, machinery and equipment23€181k€141k▼
Furniture and vehicles24€6k€4k▼
Other tangible fixed assets26€10k€9k▼
Financial fixed assets28€8k€8k=
Current assets29/58€221k€136k▼
Stocks and contracts in progress3€69k€73k▲
Stocks30/36€69k€73k▲
Amounts receivable within one year40/41€19k€29k▲
Trade receivables40€15k€25k▲
Other amounts receivable41€4k€4k▼
Cash at bank and in hand54/58€110k€7k▼
Deferred charges and accrued income490/1€23k€26k▲
Equity and liabilities
Total equity and liabilities10/49€459k€325k▼
Equity10/15€23k€13k▼
Contributions10/11€20k€20k=
Reserves13€3k€3k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14-€-10k
Amounts payable17/49€436k€312k▼
Amounts payable after more than one year17€156k€91k▼
Financial debts170/4€156k€91k▼
Amounts payable within one year42/48€277k€216k▼
Current portion of amounts payable after more than one year42€73k€65k▼
Trade debts44€41k€61k▲
Suppliers440/4€41k€61k▲
Taxes, remuneration and social security45€22k€22k▼
Taxes450/3€5k€9k▲
Remuneration and social security454/9€17k€13k▼
Other amounts payable47/48€141k€70k▼
Accrued charges and deferred income492/3€3k€4k▲
Income statement
Code20232024
Remuneration, social security and pensions62€94k€61k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€52k€49k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€925
Other operating charges640/8€3k-
Gross operating margin9900€168k€111k▼
Operating profit (loss)9901€19k€-214▼
Financial income75/76B€244€176▼
Recurring financial income75€244€176▼
Financial charges65/66B€13k€10k▼
Recurring financial charges65€13k€10k▼
Non-recurring financial charges66B-€655
Profit (loss) for the period before taxes9903€7k€-10k▼
Profit (loss) for the period9904€7k€-10k▼
Profit (loss) for the period to be appropriated9905€7k€-10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-10k▼
Profit (loss) brought forward from the previous period14P€-4k-
Transfer to equity691/2€3k-
To other reserves6921€3k-
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €37k | €108k | €94k | €61k | ▼ 34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39k | €44k | €47k | €52k | €49k | ▼ 6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €925 | - |
| Other operating charges640/8 | - | €791 | €796 | €3k | - | - |
| Gross operating margin9900 | €49k | €97k | €148k | €168k | €111k | ▼ 33.9% |
| Operating profit (loss)9901 | €7k | €16k | €-7k | €19k | €-214 | ▼ 101% |
| Financial income75/76B | - | €2k | €551 | €244 | €176 | ▼ 27.6% |
| Recurring financial income75 | €2k | €2k | €551 | €244 | €176 | ▼ 27.6% |
| Financial charges65/66B | - | €4k | €5k | €13k | €10k | ▼ 17.1% |
| Recurring financial charges65 | €5k | €4k | €5k | €13k | €10k | ▼ 22.3% |
| Non-recurring financial charges66B | - | - | - | - | €655 | - |
| Profit (loss) for the period before taxes9903 | €4k | €14k | €-11k | €7k | €-10k | ▼ 247% |
| Profit (loss) for the period9904 | €4k | €14k | €-11k | €7k | €-10k | ▼ 247% |
| Profit (loss) for the period to be appropriated9905 | €4k | €14k | €-11k | €7k | €-10k | ▼ 247% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €375k | €381k | €450k | €459k | €325k | ▼ 29.3% |
| Formation expenses20 | €683 | €478 | €273 | €68 | - | - |
| Fixed assets21/28 | €304k | €273k | €259k | €238k | €189k | ▼ 20.7% |
| Intangible fixed assets21 | €44k | €42k | €36k | €33k | €27k | ▼ 17.8% |
| Tangible fixed assets22/27 | €257k | €228k | €220k | €198k | €154k | ▼ 22.0% |
| Plant, machinery and equipment23 | - | €219k | €209k | €181k | €141k | ▼ 22.0% |
| Furniture and vehicles24 | - | €4k | €7k | €6k | €4k | ▼ 34.3% |
| Other tangible fixed assets26 | - | €5k | €4k | €10k | €9k | ▼ 13.3% |
| Financial fixed assets28 | €4k | €4k | €4k | €8k | €8k | = |
| Current assets29/58 | €70k | €108k | €190k | €221k | €136k | ▼ 38.5% |
| Stocks and contracts in progress3 | €3k | €36k | €41k | €69k | €73k | ▲ 6.2% |
| Stocks30/36 | - | €36k | €41k | €69k | €73k | ▲ 6.2% |
| Amounts receivable within one year40/41 | €43k | €34k | €78k | €19k | €29k | ▲ 51.9% |
| Trade receivables40 | - | €34k | €78k | €15k | €25k | ▲ 67.8% |
| Other amounts receivable41 | - | €232 | €232 | €4k | €4k | ▼ 3.8% |
| Cash at bank and in hand54/58 | €14k | €37k | €65k | €110k | €7k | ▼ 93.2% |
| Deferred charges and accrued income490/1 | - | - | €6k | €23k | €26k | ▲ 14.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €375k | €381k | €450k | €459k | €325k | ▼ 29.3% |
| Equity10/15 | €14k | €27k | €16k | €23k | €13k | ▼ 44.9% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | - | - | - | €3k | €3k | = |
| Distributable reserves133 | - | - | - | €3k | €3k | = |
| Profit (loss) carried forward14 | €-6k | €7k | €-4k | - | €-10k | - |
| Amounts payable17/49 | €361k | €354k | €434k | €436k | €312k | ▼ 28.4% |
| Amounts payable after more than one year17 | €153k | €113k | €154k | €156k | €91k | ▼ 41.5% |
| Financial debts170/4 | - | €113k | €154k | €156k | €91k | ▼ 41.5% |
| Amounts payable within one year42/48 | €207k | €239k | €279k | €277k | €216k | ▼ 21.9% |
| Current portion of amounts payable after more than one year42 | - | €42k | €21k | €73k | €65k | ▼ 11.0% |
| Trade debts44 | €52k | €30k | €84k | €41k | €61k | ▲ 47.2% |
| Suppliers440/4 | - | €30k | €84k | €41k | €61k | ▲ 47.2% |
| Taxes, remuneration and social security45 | - | €21k | €31k | €22k | €22k | ▼ 0.4% |
| Taxes450/3 | - | €11k | €11k | €5k | €9k | ▲ 70.1% |
| Remuneration and social security454/9 | - | €10k | €20k | €17k | €13k | ▼ 22.3% |
| Other amounts payable47/48 | - | €145k | €143k | €141k | €70k | ▼ 50.8% |
| Accrued charges and deferred income492/3 | - | €2k | €2k | €3k | €4k | ▲ 40.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €14k | €-11k | €7k | €-10k | ▼ 247% |
| + Depreciation and write-downs630 | €39k | €44k | €47k | €52k | €49k | ▼ 6.0% |
| Operating cash flow (approximation) | €44k | €58k | €35k | €59k | €39k | ▼ 34.9% |
| Investment in fixed assets (approximation) | - | €-13k | €-33k | €-31k | €317 | ▲ 101% |
| Change in cash | - | €23k | €27k | €45k | €-103k | ▼ 326% |
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
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2019net €14k ▲219%
Net result €14k, the highest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro 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, Oudenaarde · 2 establishment units since 2018
Ground area
4,555 m²
Building footprint
223 m²
Volume, LiDAR
1,140 m³
2 parcels, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
BSF
since 20182.276.761.729
BSF
since 20182.280.398.338
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36008C0204/00N005 | Flanders | 3,263 m² | 1 · 101 m² | 7.1 m · 1 fl. |
| 45505A0177/00P000 | Flanders | 1,293 m² | 1 · 122 m² | 8.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 2,985 EUR awarded · 1,620 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 465 EUR | 465 EUR |
| 2022 | 1 | 2,520 EUR | 1,155 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 5,178 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
Founded04-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
16230Manufacture of other builders' carpentry and joinery
43320Joinery installation
47120Other non-specialised retail sale
Scores and ratios are computed by Checked and are not a credit decision.