BSM
ActiveSummary
BSM has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€114,150) and a net result of -€62,918. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 8085 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.31 against 0.52 in 2024; short-term debt: 323.3% and cash: 0.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-223.3%
Return on assets
-123.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€114,150
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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
9 d early
2023
44 d early
2022
45 d early
2021
52 d early
2020
8 d early
2019
63 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 41 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€114,150▼ 123%
2024 · -€51,232
Total assets
€51,109▼ 8.1%
2024 · €55,601
Net result
-€62,918▼ 22.8%
2024 · -€51,249
Working capital
-€114,150▼ 123%
2024 · -€51,232
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,010▼ 183%-€16,664▼ 454%-€18,697▼ 12.2%-€50,731▼ 171%-€62,633▼ 23.5%
Net result-€3,122▼ 62.2%-€16,376▼ 425%-€18,969▼ 15.8%-€51,249▼ 170%-€62,918▼ 22.8%
Equity€35,362▼ 8.1%€18,986▼ 46.3%€17▼ 99.9%-€51,232-€114,150▼ 123%
Total assets€320,961▼ 23.8%€195,809▼ 39.0%€63,276▼ 67.7%€55,601▼ 12.1%€51,109▼ 8.1%
Debt€285,599▼ 25.4%€176,823▼ 38.1%€63,259▼ 64.2%€106,832▲ 68.9%€165,259▲ 54.7%
Working capital€34,127▼ 11.3%€18,225▼ 46.6%-€270-€51,232▼ 18,885%-€114,150▼ 123%
Staff (FTE)0.5=0.5=1.2▲ 140%2.3▲ 91.7%2.5▲ 8.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2023 Total assets -68% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €62,633 in 2025 against €50,731 in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
EBITDA
-€62,633▼
2024 · -€50,444
Cash flow
-€62,918▼
2024 · -€50,962
Solvency
-223.3%▼
2024 · -92.1%
Current ratio
0.31▼
2024 · 0.52
Debt to equity
-1.45▲
2024 · -2.09
ROA
-123.1%▼
2024 · -92.2%
Interest coverage
-219.63▼
2024 · -97.43
Debt ≤ 1 year
€165,259▲
2024 · €106,832
Staff costs
€112,369▲
2024 · €102,390
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €7,217 | - |
| Remuneration, social security and pensions62 | €20,321 | €21,008 | €52,220 | €102,390 | €112,369 | ▲ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €187 | €474 | €474 | €287 | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,723 | €0 | - | - | - | - |
| Other operating charges640/8 | €486 | €487 | €503 | €505 | €157 | ▼ 68.8% |
| Gross operating margin9900 | €19,707 | €5,305 | €34,500 | €52,451 | €49,893 | ▼ 4.9% |
| Operating profit (loss)9901 | -€3,010 | -€16,664 | -€18,697 | -€50,731 | -€62,633 | ▼ 23.5% |
| Financial income75/76B | €350 | €363 | €0 | €0 | - | - |
| Recurring financial income75 | €350 | €363 | €0 | €0 | - | - |
| Financial charges65/66B | €164 | €74 | €272 | €518 | €285 | ▼ 44.9% |
| Recurring financial charges65 | €164 | €74 | €272 | €518 | €285 | ▼ 44.9% |
| Profit (loss) for the period before taxes9903 | -€2,824 | -€16,376 | -€18,969 | -€51,249 | -€62,918 | ▼ 22.8% |
| Income taxes67/77 | €298 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | -€3,122 | -€16,376 | -€18,969 | -€51,249 | -€62,918 | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | -€3,122 | -€16,376 | -€18,969 | -€51,249 | -€62,918 | ▼ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €320,961 | €195,809 | €63,276 | €55,601 | €51,109 | ▼ 8.1% |
| Fixed assets21/28 | €1,235 | €761 | €287 | €0 | - | - |
| Tangible fixed assets22/27 | €1,235 | €761 | €287 | €0 | - | - |
| Plant, machinery and equipment23 | €1,235 | €761 | €287 | €0 | - | - |
| Current assets29/58 | €319,726 | €195,048 | €62,989 | €55,601 | €51,109 | ▼ 8.1% |
| Amounts receivable within one year40/41 | €316,227 | €189,601 | €50,511 | €48,281 | €49,597 | ▲ 2.7% |
| Trade receivables40 | - | €4,200 | €48,200 | €46,178 | €47,100 | ▲ 2.0% |
| Other amounts receivable41 | €316,227 | €185,401 | €2,311 | €2,104 | €2,497 | ▲ 18.7% |
| Cash at bank and in hand54/58 | €2,500 | €4,537 | €11,303 | €5,586 | €124 | ▼ 97.8% |
| Deferred charges and accrued income490/1 | €1,000 | €910 | €1,176 | €1,734 | €1,388 | ▼ 20.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €320,961 | €195,809 | €63,276 | €55,601 | €51,109 | ▼ 8.1% |
| Equity10/15 | €35,362 | €18,986 | €17 | -€51,232 | -€114,150 | ▼ 123% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €0 | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Profit (loss) carried forward14 | €21,102 | €4,726 | -€12,383 | -€63,632 | -€126,550 | ▼ 98.9% |
| Amounts payable17/49 | €285,599 | €176,823 | €63,259 | €106,832 | €165,259 | ▲ 54.7% |
| Amounts payable within one year42/48 | €285,599 | €176,823 | €63,259 | €106,832 | €165,259 | ▲ 54.7% |
| Trade debts44 | €9,655 | €1,136 | €2,240 | €3,454 | €7,637 | ▲ 121% |
| Suppliers440/4 | €9,655 | €1,136 | €2,240 | €3,454 | €7,637 | ▲ 121% |
| Taxes, remuneration and social security45 | €2,994 | €2,813 | €8,146 | €22,104 | €26,301 | ▲ 19.0% |
| Taxes450/3 | €298 | €0 | - | €2,215 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €2,697 | €2,813 | €8,146 | €19,889 | €26,301 | ▲ 32.2% |
| Other amounts payable47/48 | €272,949 | €172,874 | €52,874 | €81,274 | €131,321 | ▲ 61.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,122 | -€16,376 | -€18,969 | -€51,249 | -€62,918 | ▼ 22.8% |
| + Depreciation and write-downs630 | €187 | €474 | €474 | €287 | €0 | ▼ 100% |
| Operating cash flow (approximation) | -€2,935 | -€15,902 | -€18,495 | -€50,962 | -€62,918 | ▼ 23.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | €2,038 | €6,765 | -€5,717 | -€5,462 | ▲ 4.5% |
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
Next filing, fiscal year 2026, expected by
2026
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€62,918
Net result drops to -€62,918, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 2015
Ground area
916 m²
Building footprint
900 m²
Volume, LiDAR
27,185 m³
Parcel 11808H1243/00H004, Flanders · tallest building 39.4 m, ±12 floors. Linked by address, not a title deed.
77
companies at this address
See who is registered here
1 establishment unit
BSM
since 20152.247.204.542
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1243/00H004 | Flanders | 916 m² | 1 · 900 m² | 39.4 m · 12 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Of 1,076 companies in sector 46140 we hold annual accounts for 645. 2 are within a factor 10 of this equity. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
52250Logistics services
78100Employment placement agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0834154270
Also
9925:BE0834154270
Registered
17-11-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.