BSGP
ActiveSummary
The computed 12-month bankruptcy probability of BSGP is 2.2% (moderate). The 2025 annual accounts show equity of €185,416 and a net result of €132,615. Equity is growing by ~23.2% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, micro schema
Equity
€185,416▼ 25.5%
2024 · €248,800
Total assets
€773,811▲ 46.1%
2024 · €529,504
Net result
€132,615▲ 121%
2024 · €59,936
Working capital
€80,451▼ 46.0%
2024 · €149,064
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€131,949-€71,335▼ 45.9%€77,100▲ 8.1%€81,194▲ 5.3%€175,251▲ 116%
Net result€125,985-€50,555▼ 59.9%€55,756▲ 10.3%€59,936▲ 7.5%€132,615▲ 121%
Equity€112,985-€162,741▲ 44.0%€205,697▲ 26.4%€248,800▲ 21.0%€185,416▼ 25.5%
Total assets€514,466-€493,592▼ 4.1%€537,810▲ 9.0%€529,504▼ 1.5%€773,811▲ 46.1%
Debt€401,480-€330,851▼ 17.6%€332,113▲ 0.4%€280,704▼ 15.5%€588,396▲ 110%
Working capital€47,394-€88,760▲ 87.3%€126,817▲ 42.9%€149,064▲ 17.5%€80,451▼ 46.0%
Staff (FTE)0.20.3▲ 50.0%0.2▼ 33.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 116% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €773,811
Fixed assets
€278,964 ▼ 3.6%
Current assets
€494,848 ▲ 106%
Equity and liabilities €773,811
Equity
€185,416 ▼ 25.5%
Debt
€588,396 ▲ 110%
Debt's share of the balance-sheet total rises from 53.0% to 76.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€198,792▲
2024 · €102,537
Cash flow
€156,156▲
2024 · €81,280
Current ratio
1.19▼
2024 · 2.64
Quick ratio
1.17▼
2024 · 2.54
Debt to equity
3.17▲
2024 · 1.13
ROE
71.5%▲
2024 · 24.1%
ROA
17.1%▲
2024 · 11.3%
Interest coverage
24.07▲
2024 · 9.13
Debt ≤ 1 year
€414,397▲
2024 · €90,956
Debt > 1 year
€173,999▼
2024 · €189,748
Income taxes
€37,568▲
2024 · €13,877
Staff costs
€6,320▲
2024 · €2,798
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,713 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% 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 497,366 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,713 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €2,126 | €2,798 | €6,320 | ▲ 126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,277 | €17,504 | €18,330 | €21,343 | €23,541 | ▲ 10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €27,296 | -€20,630 | €0 | ▲ 100% |
| Other operating charges640/8 | €1,146 | €2,042 | €2,970 | €3,104 | €2,847 | ▼ 8.3% |
| Gross operating margin9900 | €143,371 | €90,881 | €127,822 | €87,808 | €207,959 | ▲ 137% |
| Operating profit (loss)9901 | €131,949 | €71,335 | €77,100 | €81,194 | €175,251 | ▲ 116% |
| Financial income75/76B | €722 | €1,225 | €1,312 | €3,854 | €3,192 | ▼ 17.2% |
| Recurring financial income75 | €722 | €1,225 | €1,312 | €3,854 | €3,192 | ▼ 17.2% |
| Financial charges65/66B | €947 | €7,835 | €8,434 | €11,234 | €8,260 | ▼ 26.5% |
| Recurring financial charges65 | €947 | €7,835 | €8,434 | €11,234 | €8,260 | ▼ 26.5% |
| Profit (loss) for the period before taxes9903 | €131,724 | €64,724 | €69,978 | €73,814 | €170,183 | ▲ 131% |
| Income taxes67/77 | €5,739 | €14,169 | €14,222 | €13,877 | €37,568 | ▲ 171% |
| Profit (loss) for the period9904 | €125,985 | €50,555 | €55,756 | €59,936 | €132,615 | ▲ 121% |
| Profit (loss) for the period to be appropriated9905 | €125,985 | €50,555 | €55,756 | €59,936 | €132,615 | ▲ 121% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €514,466 | €493,592 | €537,810 | €529,504 | €773,811 | ▲ 46.1% |
| Fixed assets21/28 | €302,975 | €294,393 | €284,097 | €289,484 | €278,964 | ▼ 3.6% |
| Tangible fixed assets22/27 | €302,975 | €294,393 | €284,097 | €289,484 | €278,964 | ▼ 3.6% |
| Land and buildings22 | €254,993 | €255,516 | €247,775 | €254,739 | €245,417 | ▼ 3.7% |
| Plant, machinery and equipment23 | €11,891 | €11,799 | €18,257 | €20,764 | €18,933 | ▼ 8.8% |
| Furniture and vehicles24 | €36,091 | €27,078 | €18,065 | €13,981 | €14,614 | ▲ 4.5% |
| Current assets29/58 | €211,491 | €199,199 | €253,713 | €240,020 | €494,848 | ▲ 106% |
| Amounts receivable after more than one year29 | €35,000 | €35,700 | €35,000 | €35,000 | €35,000 | = |
| Trade receivables290 | €35,000 | €35,700 | €35,000 | €35,000 | €35,000 | = |
| Stocks and contracts in progress3 | €8,913 | €8,913 | €8,913 | €9,000 | €9,000 | = |
| Stocks30/36 | €8,913 | €8,913 | €8,913 | €9,000 | €9,000 | = |
| Amounts receivable within one year40/41 | €164,205 | €112,036 | €161,524 | €145,430 | €305,804 | ▲ 110% |
| Trade receivables40 | €100,996 | €85,081 | €121,957 | €94,443 | €224,596 | ▲ 138% |
| Other amounts receivable41 | €63,209 | €26,955 | €39,568 | €50,988 | €81,208 | ▲ 59.3% |
| Current investments50/53 | €3,000 | €17,500 | €33,238 | €21,139 | €73,334 | ▲ 247% |
| Cash at bank and in hand54/58 | - | €23,878 | €15,037 | €24,377 | €68,149 | ▲ 180% |
| Deferred charges and accrued income490/1 | €373 | €1,172 | €0 | €5,074 | €3,560 | ▼ 29.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €514,466 | €493,592 | €537,810 | €529,504 | €773,811 | ▲ 46.1% |
| Equity10/15 | €112,985 | €162,741 | €205,697 | €248,800 | €185,416 | ▼ 25.5% |
| Contributions10/11 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | = |
| Reserves13 | €75,000 | €120,000 | €168,000 | €211,000 | €148,000 | ▼ 29.9% |
| Distributable reserves133 | €75,000 | €120,000 | €168,000 | €211,000 | €148,000 | ▼ 29.9% |
| Profit (loss) carried forward14 | €985 | €5,741 | €697 | €800 | €416 | ▼ 48.1% |
| Amounts payable17/49 | €401,480 | €330,851 | €332,113 | €280,704 | €588,396 | ▲ 110% |
| Amounts payable after more than one year17 | €237,383 | €220,413 | €205,217 | €189,748 | €173,999 | ▼ 8.3% |
| Financial debts170/4 | €237,383 | €220,413 | €205,217 | €189,748 | €173,999 | ▼ 8.3% |
| Amounts payable within one year42/48 | €164,097 | €110,439 | €126,896 | €90,956 | €414,397 | ▲ 356% |
| Current portion of amounts payable after more than one year42 | €18,721 | €16,971 | €15,195 | €15,470 | €15,749 | ▲ 1.8% |
| Financial debts43 | €46,243 | €0 | €124 | €0 | €858 | - |
| Credit institutions430/8 | €46,243 | €0 | €124 | €0 | €858 | - |
| Trade debts44 | €41,851 | €72,602 | €82,386 | €53,864 | €172,622 | ▲ 220% |
| Suppliers440/4 | €41,851 | €72,602 | €82,386 | €53,864 | €172,622 | ▲ 220% |
| Taxes, remuneration and social security45 | €5,763 | €20,066 | €16,391 | €4,789 | €29,168 | ▲ 509% |
| Taxes450/3 | €5,763 | €20,066 | €16,391 | €4,789 | €28,135 | ▲ 487% |
| Remuneration and social security454/9 | - | - | - | - | €1,033 | - |
| Other amounts payable47/48 | €51,520 | €800 | €12,800 | €16,833 | €196,000 | ▲ 1,064% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,985 | €50,555 | €55,756 | €59,936 | €132,615 | ▲ 121% |
| + Depreciation and write-downs630 | €10,277 | €17,504 | €18,330 | €21,343 | €23,541 | ▲ 10.3% |
| Operating cash flow (approximation) | €136,262 | €68,059 | €74,086 | €81,280 | €156,156 | ▲ 92.1% |
| Investment in fixed assets (approximation) | - | -€8,922 | -€8,034 | -€26,730 | -€13,020 | ▲ 51.3% |
| Change in cash | - | - | -€8,841 | €9,340 | €43,772 | ▲ 369% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Subsidies and aid
Flemish government
2024 · 1 entry · €600 awarded · €600 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | €600 | €600 |