BST
ActiveSummary
BST has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €182,023 and a net result of €14,418. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 91% of 28051 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-7
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 5.22 against 5.58 in 2024; short-term debt: 13.1% and cash: 52.7% of total assets), and 13.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
86.9%
Return on assets
6.9%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
9 d early
2023
31 d late
2022
4 d late
2019
122 d late
2018
31 d late
2017
304 d late
← 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 73 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€182,023▲ 8.6%
2024 · €167,605
Total assets
€209,500▼ 1.2%
2024 · €211,975
Net result
€14,418▼ 45.4%
2024 · €26,428
Working capital
€116,020▼ 29.6%
2024 · €164,908
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
Line20192022202320242025
Operating result€19,307▼ 42.6%€29,544-€34,007▲ 15.1%€39,590▲ 16.4%€28,650▼ 27.6%
Net result€9,483▼ 59.5%€13,114-€23,334▲ 77.9%€26,428▲ 13.3%€14,418▼ 45.4%
Equity€101,557▲ 10.3%€117,843-€141,177▲ 19.8%€167,605▲ 18.7%€182,023▲ 8.6%
Total assets€152,918▲ 18.8%€160,115-€168,737▲ 5.4%€211,975▲ 25.6%€209,500▼ 1.2%
Debt€51,361▲ 40.0%€42,272-€27,560▼ 34.8%€44,371▲ 61.0%€27,477▼ 38.1%
Working capital€99,562▲ 11.1%€108,855-€134,747▲ 23.8%€164,908▲ 22.4%€116,020▼ 29.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €209,500
Fixed assets
€66,004 ▲ 495%
Current assets
€143,496 ▼ 28.6%
Equity and liabilities €209,500
Equity
€182,023 ▲ 8.6%
Debt
€27,477 ▼ 38.1%
Debt's share of the balance-sheet total falls from 20.9% to 13.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37,025▼
2024 · €43,038
Cash flow
€22,793▼
2024 · €29,875
Current ratio
5.22▼
2024 · 5.58
Debt to equity
0.15▼
2024 · 0.26
ROE
7.9%▼
2024 · 15.8%
ROA
6.9%▼
2024 · 12.5%
Interest coverage
22.10▲
2024 · 19.84
Debt ≤ 1 year
€27,477▼
2024 · €35,971
Income taxes
€8,621▼
2024 · €11,231
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €16,942 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €449 | €2,484 | €3,758 | €3,447 | €8,375 | ▲ 143% |
| Other operating charges640/8 | - | €707 | €1,939 | €775 | €2,230 | ▲ 188% |
| Gross operating margin9900 | €20,224 | €32,736 | €39,703 | €43,812 | €39,254 | ▼ 10.4% |
| Operating profit (loss)9901 | €19,307 | €29,544 | €34,007 | €39,590 | €28,650 | ▼ 27.6% |
| Financial income75/76B | - | - | - | €238 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | €238 | €0 | ▼ 100% |
| Financial charges65/66B | - | €142 | €537 | €2,169 | €5,610 | ▲ 159% |
| Recurring financial charges65 | €99 | €142 | €537 | €2,169 | €1,676 | ▼ 22.8% |
| Non-recurring financial charges66B | - | - | - | - | €3,934 | - |
| Profit (loss) for the period before taxes9903 | €19,209 | €29,402 | €33,470 | €37,659 | €23,040 | ▼ 38.8% |
| Income taxes67/77 | €9,725 | €16,289 | €10,136 | €11,231 | €8,621 | ▼ 23.2% |
| Profit (loss) for the period9904 | €9,483 | €13,114 | €23,334 | €26,428 | €14,418 | ▼ 45.4% |
| Profit (loss) for the period to be appropriated9905 | €9,483 | €13,114 | €23,334 | €26,428 | €14,418 | ▼ 45.4% |
| Line | 2019 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €152,918 | €160,115 | €168,737 | €211,975 | €209,500 | ▼ 1.2% |
| Fixed assets21/28 | €1,995 | €13,788 | €10,030 | €11,096 | €66,004 | ▲ 495% |
| Tangible fixed assets22/27 | €1,995 | €13,788 | €10,030 | €11,096 | €66,004 | ▲ 495% |
| Plant, machinery and equipment23 | - | €13,141 | €10,030 | €6,918 | €4,027 | ▼ 41.8% |
| Furniture and vehicles24 | - | €395 | €0 | €4,178 | €61,976 | ▲ 1,383% |
| Other tangible fixed assets26 | - | €252 | €0 | - | - | - |
| Current assets29/58 | €150,923 | €146,327 | €158,707 | €200,879 | €143,496 | ▼ 28.6% |
| Stocks and contracts in progress3 | €1,804 | €1,804 | €0 | - | - | - |
| Stocks30/36 | - | €1,804 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €147,365 | €127,217 | €25,834 | €29,833 | €30,985 | ▲ 3.9% |
| Trade receivables40 | - | €37,596 | €25,834 | €29,064 | €28,564 | ▼ 1.7% |
| Other amounts receivable41 | - | €89,622 | €0 | €769 | €2,421 | ▲ 215% |
| Cash at bank and in hand54/58 | €1,755 | €15,329 | €131,368 | €169,534 | €110,351 | ▼ 34.9% |
| Deferred charges and accrued income490/1 | - | €1,978 | €1,506 | €1,512 | €2,161 | ▲ 42.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €152,918 | €160,115 | €168,737 | €211,975 | €209,500 | ▼ 1.2% |
| Equity10/15 | €101,557 | €117,843 | €141,177 | €167,605 | €182,023 | ▲ 8.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €95,357 | €111,643 | €134,977 | €161,405 | €175,823 | ▲ 8.9% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €109,783 | €133,117 | €159,545 | €173,963 | ▲ 9.0% |
| Amounts payable17/49 | €51,361 | €42,272 | €27,560 | €44,371 | €27,477 | ▼ 38.1% |
| Amounts payable within one year42/48 | €51,361 | €37,472 | €23,960 | €35,971 | €27,477 | ▼ 23.6% |
| Trade debts44 | €29,062 | €1,967 | €2,488 | €513 | €0 | ▼ 100% |
| Suppliers440/4 | - | €1,967 | €2,488 | €513 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €35,505 | €21,031 | €35,068 | €27,220 | ▼ 22.4% |
| Taxes450/3 | - | €29,138 | €21,031 | €25,828 | €17,980 | ▼ 30.4% |
| Remuneration and social security454/9 | - | €6,367 | €0 | €9,240 | €9,240 | = |
| Other amounts payable47/48 | - | - | €441 | €389 | €257 | ▼ 34.1% |
| Accrued charges and deferred income492/3 | - | €4,800 | €3,600 | €8,400 | €0 | ▼ 100% |
| Line | 2019 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,483 | €13,114 | €23,334 | €26,428 | €14,418 | ▼ 45.4% |
| + Depreciation and write-downs630 | €449 | €2,484 | €3,758 | €3,447 | €8,375 | ▲ 143% |
| Operating cash flow (approximation) | €9,933 | €15,598 | €27,092 | €29,875 | €22,793 | ▼ 23.7% |
| Investment in fixed assets (approximation) | - | - | €0 | -€4,514 | -€63,282 | ▼ 1,302% |
| Change in cash | - | - | €116,039 | €38,166 | -€59,183 | ▼ 255% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €26,428 ▲13.3%
Operating result €39,590, net result €26,428, both a record.
31-12
Financial
Equity above €150,000Eq €167,605 ▲18.7%
5 profitable years in a row build equity to €167,605.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 4 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
2019
31-12
Financial
Weakest financial yearnet €9,483 ▼59.5%
Net result drops to €9,483, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100,000Eq €101,557 ▲10.3%
2 profitable years in a row build equity to €101,557.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 304 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
04-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 4 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
4 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, Schoten · 1 establishment unit since 2012
Ground area
1,015 m²
Building footprint
220 m²
Volume, LiDAR
1,822 m³
2 parcels, Flanders · tallest building 19.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
BST
since 20122.209.545.182
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040A0002/00E031 | Flanders | 913 m² | 1 · 119 m² | 8.3 m · 2 fl. |
| 31336H0199/00_000 | Flanders | 101 m² | 1 · 101 m² | 19.7 m · 4 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.
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Of 1,123 companies in sector 43212 we hold annual accounts for 420. 333 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 (pre-2019)
Founded17-02-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43212Electrical installation work in industrial facilities
Scores and ratios are computed by Checked and are not a credit decision.