BSF
BSF has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €63k and a net result of €4k. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 62% of 20795 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
| Equity | €63k |
| Net result | €4k |
| Better than sector | 62% |
| Active | 6 yrs |
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 72.2% | 62.9% | |
| Net result | €4k | €27k | |
| Equity | €63k | €74k | |
| Gross operating margin | €31k | €53k | |
| Total assets | €87k | €136k |
Figures by fiscal year and ratios
| Fiscal year | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | +241.0% | -82.5% | -39.6% | - |
| Net profit | - | - | -60.2% | - |
| Cash flow | +240.9% | -80.5% | -37.0% | - |
| Staff costs | - | - | - | - |
| Income taxes | - | -100.0% | -53.3% | - |
| Dividends | - | - | - | - |
| Total assets | -0.1% | -31.5% | +6.9% | - |
| Equity | +6.9% | -21.3% | +39.0% | - |
| Debt | -14.4% | -46.1% | -19.5% | - |
| of which ≤ 1y | -17.6% | -41.3% | +0.1% | - |
| of which > 1y | - | -100.0% | -74.8% | - |
| Working capital | - | - | - | - |
| Employees (FTE) | - | - | - | - |
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 1.67 | 0.83 | 1.01 | 0.68 |
| Quick ratio | 1.67 | 0.83 | 1.01 | 0.68 |
| Working capital ratio | 18.0% | -5.6% | 0.5% | -12.9% |
| Solvency | 72.2% | 67.5% | 58.7% | 45.2% |
| Debt / equity | 0.38 | 0.48 | 0.70 | 1.21 |
| Long-term debt ratio | - | 0.00 | 0.06 | 0.32 |
| Interest coverage | 472.10 | 35.17 | 114.82 | 122.06 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 4.6% | -18.2% | 16.5% | 44.3% |
| ROE | 6.4% | -27.0% | 28.1% | 98.1% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Full annual accounts (22 line items)
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €87k | €87k | €128k | €119k |
| Fixed assets | 21/28 | €48k | €64k | €79k | €86k |
| Tangible fixed assets | 22/27 | €48k | €64k | €79k | €86k |
| Current assets | 29/58 | €39k | €24k | €49k | €33k |
| Amounts receivable within one year | 40/41 | €12k | €24 | €11k | €10k |
| Cash & bank | 54/58 | €11k | €2k | €26k | €17k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €87k | €87k | €128k | €119k |
| Equity | 10/15 | €63k | €59k | €75k | €54k |
| Contributions / capital | 10/11 | €1k | €1k | €1k | €1k |
| Reserves | 13 | €62k | €58k | €74k | €53k |
| Amounts payable | 17/49 | €24k | €28k | €53k | €65k |
| Amounts payable after one year | 17 | - | €0 | €4k | €17k |
| Amounts payable within one year | 42/48 | €23k | €28k | €48k | €48k |
| Trade debts payable within one year | 44 | €192 | €594 | €24 | €412 |
| Income statement | |||||
| Gross operating margin | 9900 | €31k | €10k | €55k | €87k |
| Operating result | 9901 | €5k | €-16k | €27k | €66k |
| Financial income | 75 | €0 | €3 | €29 | €37 |
| Financial charges | 65 | €63 | €249 | €435 | €678 |
| Result before taxes | 9903 | €5k | €-16k | €27k | €66k |
| Income taxes | 67/77 | €783 | €0 | €6k | €13k |
| Net result for the period | 9904 | €4k | €-16k | €21k | €53k |
| Result to be appropriated | 9905 | €4k | €-16k | €21k | €53k |
Former directors (2)
-
James BoelensDirectorState Gazette act 23019184 (08-02-2023)Former- → 08-02-2023
-
Cedric BoelensDirectorState Gazette act 23019184 (08-02-2023)Former- → 30-11-2022
| NACE primary | Computer programming(62100) |
| Legal form | Private limited company(610) |
| Incorporation | 21-04-2020 |
| Status | Active |
| Postal code | 9940 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43006I0070/00Y000 | Flanders | 439 m² | 1 · 97 m² | 0.4 m |
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
08-02-2023 2 resigning
- Cedric Boelens, Bestuurder
- James Boelens, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "bestuurder",
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"name": "Cedric Boelens",
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},
"reason": "end_of_term",
"subkind": null,
"via_org": null,
"statutory": null,
"compensated": null,
"effective_date": "2022-11-30",
"evidence_quote": "Er werd beslist dat met ingang van 30 november 2022 het mandaat als bestuurder van Dhr. Cedric Boelens wordt be\u00EBindigd.",
"decharge_status": null,
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"effective_date_qualifier": "immediate"
},
{
"kind": "director_out",
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},
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"evidence_quote": "Het mandaat van Dhr. James Boelens blijft gehandhaafd.",
"decharge_status": null,
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"rep_rotation_old_rep": null,
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}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": "Luik",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2023-02-08",
"filing_date": "2023-01-30",
"act_kind_objet": "Onderwerp akte:"
},
"decisions": [
{
"body": "bijzondere_algemene_vergadering",
"date": "2022-11-21",
"unanimous": null
}
],
"is_correction": false,
"subject_company": {
"kbo": "0746.436.477",
"name_full": "BSF",
"legal_form": "BV"
},
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": [],
"corrected_publication_numac": null
}| Legal nameNL | BSF |