BSM Logistic
ActiveSummary
The computed 12-month bankruptcy probability of BSM Logistic is 3.7% (moderate). The 2025 annual accounts show equity of €35k and a net result of €-12k. Equity is growing by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 32% of 297 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability57▼-11
Solvency52▼-10
Growth52=
Track record94
Bankruptcy probability, 12 months
3.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.88 against 0.76 in 2024; short-term debt: 73.3% and cash: 39.8% of total assets), and 73.3% 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 · 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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 2025Solvency, return and age of the figures
Solvency
26.7%
Return on assets
-9.4%
Age of the figures
9 mo
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
22232425
2022 to 2025 · latest year €-12k
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 20-05-2026, 72 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
72 d early
2024
69 d early
2023
68 d early
2022
54 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-12k▼ 1,669%
2024 · €-689
2022: €19k
2023: €24k▲ +26.0% vs 2022highest in 4 years
2024: €-689▼ -103% vs 2023
2025: €-12k▼ -1669% vs 2024lowest in 4 years
2022 → 2025
Working capital
€-11k▲ 41.4%
2024 · €-19k
2022: €23khighest in 4 years
2023: €-36k▼ -259% vs 2022lowest in 4 years
2024: €-19k▲ +48.1% vs 2023
2025: €-11k▲ +41.4% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€23k-€47k▲ 104%€47k▼ 1.5%€35k▼ 26.1%
2022: €23klowest in 4 years
2023: €47k▲ +104% vs 2022highest in 4 years
2024: €47k▼ -1.5% vs 2023
2025: €35k▼ -26.1% vs 2024
Operating result€19k-€24k▲ 26.5%€6k▼ 76.6%€3k▼ 46.8%
2022: €19k
2023: €24k▲ +26.5% vs 2022highest in 4 years
2024: €6k▼ -76.6% vs 2023
2025: €3k▼ -46.8% vs 2024lowest in 4 years
Net result€19k-€24k▲ 26.0%€-689€-12k▼ 1,669%
2022: €19k
2023: €24k▲ +26.0% vs 2022highest in 4 years
2024: €-689▼ -103% vs 2023
2025: €-12k▼ -1669% vs 2024lowest in 4 years
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 47% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130k
Fixed assets
€46k ▼ 30.5%
Current assets
€84k ▲ 42.4%
Equity and liabilities €130k
Equity
€35k ▼ 26.1%
Debt
€95k ▲ 22.0%
Debt's share of the balance-sheet total rises from 62.5% to 73.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€23k▼
2024 · €26k
Cash flow
€8k▼
2024 · €19k
Current ratio
0.88▲
2024 · 0.76
Debt to equity
2.75▲
2024 · 1.67
ROE
-35.3%▼
2024 · -1.5%
ROA
-9.4%▼
2024 · -0.6%
Interest coverage
73.89▲
2024 · 62.19
Debt ≤ 1 year
€95k▲
2024 · €78k
Income taxes
€15k▲
2024 · €6k
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 · 2025 against 2024 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€125k€130k▲
Fixed assets21/28€66k€46k▼
Tangible fixed assets22/27€65k€45k▼
Furniture and vehicles24€65k€45k▼
Financial fixed assets28€277€277=
Current assets29/58€59k€84k▲
Amounts receivable within one year40/41€22k€32k▲
Trade receivables40€22k€32k▲
Cash at bank and in hand54/58€37k€52k▲
Equity and liabilities
Total equity and liabilities10/49€125k€130k▲
Equity10/15€47k€35k▼
Contributions10/11€4k€4k=
Profit (loss) carried forward14€43k€31k▼
Amounts payable17/49€78k€95k▲
Amounts payable within one year42/48€78k€95k▲
Trade debts44€12k€28k▲
Suppliers440/4€12k€28k▲
Taxes, remuneration and social security45€6k€4k▼
Taxes450/3€6k€4k▼
Other amounts payable47/48€60k€63k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€20k▲
Other operating charges640/8€4k€5k▲
Gross operating margin9900€30k€28k▼
Operating profit (loss)9901€6k€3k▼
Financial charges65/66B€411€312▼
Recurring financial charges65€411€312▼
Profit (loss) for the period before taxes9903€5k€3k▼
Income taxes67/77€6k€15k▲
Profit (loss) for the period9904€-689€-12k▼
Profit (loss) for the period to be appropriated9905€-689€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€31k▼
Profit (loss) brought forward from the previous period14P€43k€43k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €16k | €20k | €20k | ▲ 0.8% |
| Other operating charges640/8 | - | €5k | €4k | €5k | ▲ 13.3% |
| Gross operating margin9900 | €19k | €45k | €30k | €28k | ▼ 6.6% |
| Operating profit (loss)9901 | €19k | €24k | €6k | €3k | ▼ 46.8% |
| Financial charges65/66B | - | €96 | €411 | €312 | ▼ 24.1% |
| Recurring financial charges65 | - | €96 | €411 | €312 | ▼ 24.1% |
| Profit (loss) for the period before taxes9903 | €19k | €24k | €5k | €3k | ▼ 48.5% |
| Income taxes67/77 | - | - | €6k | €15k | ▲ 150% |
| Profit (loss) for the period9904 | €19k | €24k | €-689 | €-12k | ▼ 1,669% |
| Profit (loss) for the period to be appropriated9905 | €19k | €24k | €-689 | €-12k | ▼ 1,669% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €36k | €130k | €125k | €130k | ▲ 4.0% |
| Fixed assets21/28 | €277 | €84k | €66k | €46k | ▼ 30.5% |
| Tangible fixed assets22/27 | - | €84k | €65k | €45k | ▼ 30.6% |
| Furniture and vehicles24 | - | €84k | €65k | €45k | ▼ 30.6% |
| Financial fixed assets28 | €277 | €277 | €277 | €277 | = |
| Current assets29/58 | €35k | €46k | €59k | €84k | ▲ 42.4% |
| Amounts receivable within one year40/41 | €35k | €18k | €22k | €32k | ▲ 50.6% |
| Trade receivables40 | €35k | €18k | €22k | €32k | ▲ 50.6% |
| Cash at bank and in hand54/58 | €519 | €27k | €37k | €52k | ▲ 37.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €36k | €130k | €125k | €130k | ▲ 4.0% |
| Equity10/15 | €23k | €47k | €47k | €35k | ▼ 26.1% |
| Contributions10/11 | €4k | €4k | €4k | €4k | = |
| Profit (loss) carried forward14 | €19k | €43k | €43k | €31k | ▼ 28.5% |
| Amounts payable17/49 | €12k | €82k | €78k | €95k | ▲ 22.0% |
| Amounts payable within one year42/48 | €12k | €82k | €78k | €95k | ▲ 22.0% |
| Trade debts44 | €1k | €1k | €12k | €28k | ▲ 129% |
| Suppliers440/4 | €1k | €1k | €12k | €28k | ▲ 129% |
| Taxes, remuneration and social security45 | €2k | €6k | €6k | €4k | ▼ 31.2% |
| Taxes450/3 | €2k | €6k | €6k | €4k | ▼ 31.2% |
| Other amounts payable47/48 | €10k | €75k | €60k | €63k | ▲ 4.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19k | €24k | €-689 | €-12k | ▼ 1,669% |
| + Depreciation and write-downs630 | - | €16k | €20k | €20k | ▲ 0.8% |
| Operating cash flow (approximation) | €19k | €40k | €19k | €8k | ▼ 59.1% |
| Investment in fixed assets (approximation) | - | €-100k | €-2k | €0 | ▲ 100% |
| Change in cash | - | €27k | €10k | €14k | ▲ 40.3% |
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
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-12k
Net result drops to €-12k, the lowest in the series.
23-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2022net €24k ▲26%
Operating result €24k, net result €24k, both a record.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Etterbeek · 1 establishment unit since 2022
Ground area
325 m²
Building footprint
129 m²
Volume, LiDAR
1,912 m³
Parcel 21005A0542/00B006, Brussels · tallest building 17.0 m, ±5 floors. Linked by address, not a title deed.
334
companies at this address
See who is registered here
1 establishment unit
BSM Logistic
since 20222.337.924.979
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21005A0542/00B006 | Brussels | 325 m² | 1 · 129 m² | 17.0 m · 5 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.
Recognitions · licences · registrations
Parcel delivery
Notified to the BIPT
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Of 1,821 companies in sector 42220 we hold annual accounts for 955. 660 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
Founded08-11-2022
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
43211General electrical installation work
46190Agents in non-specialised wholesale trade
49410Freight transport by road
52250Logistics services
53100Postal and courier activities
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.