BSWK
ActiveSummary
BSWK has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €723,194 and a net result of €14,421. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 69% of 1413 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▲+28
Solvency90▼-10
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity tight (current ratio 1.19 against 3.46 in 2023; short-term debt: 24% and cash: 1.2% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-07-2025, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
17 d early
2023
2 d early
2022
24 d early
2021
3 d early
2020
31 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 8 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€723,194▲ 2.0%
2023 · €708,773
Total assets
€1.1m▲ 18.4%
2023 · €943,505
Net result
€14,421
2023 · -€16,146
Working capital
€51,603▼ 77.3%
2023 · €227,357
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€151,613▲ 46.5%€136,498▼ 10.0%€50,103▼ 63.3%-€12,990€19,448
Net result€111,696above the sector's middle half▲ 55.8%€113,728above the sector's middle half▲ 1.8%€32,624within the sector's middle half▼ 71.3%-€16,146below the sector's middle half€14,421within the sector's middle half
Equity€578,566above the sector's middle half▲ 23.9%€692,294above the sector's middle half▲ 19.7%€724,918above the sector's middle half▲ 4.7%€708,773within the sector's middle half▼ 2.2%€723,194within the sector's middle half▲ 2.0%
Total assets€981,744above the sector's middle half▲ 15.2%€1.1mabove the sector's middle half▲ 9.4%€1.1mabove the sector's middle half▲ 1.5%€943,505within the sector's middle half▼ 13.4%€1.1mwithin the sector's middle half▲ 18.4%
Debt€403,178▲ 4.6%€381,974▼ 5.3%€365,006▼ 4.4%€234,732▼ 35.7%€393,496▲ 67.6%
Working capital€178,630above the sector's middle half▲ 158%€295,810above the sector's middle half▲ 65.6%€250,447above the sector's middle half▼ 15.3%€227,357within the sector's middle half▼ 9.2%€51,603within the sector's middle half▼ 77.3%
Solvency58.9%within the sector's middle half▲ 4.2pp64.4%within the sector's middle half▲ 5.5pp66.5%within the sector's middle half▲ 2.1pp75.1%above the sector's middle half▲ 8.6pp64.8%within the sector's middle half▼ 10.4pp
Current ratio1.86within the sector's middle half▲ 0.462.45within the sector's middle half▲ 0.592.22within the sector's middle half▼ 0.233.46above the sector's middle half▲ 1.241.19within the sector's middle half▼ 2.27
Return on assets (ROA)11.4%within the sector's middle half▲ 3.0pp10.6%within the sector's middle half▼ 0.8pp3.0%within the sector's middle half▼ 7.6pp-1.7%below the sector's middle half▼ 4.7pp1.3%within the sector's middle half▲ 3.0pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
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 returns to profit in 2024: €19,448 after a loss of €12,990 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€796,530 ▲ 27.7%
Current assets
€320,160 ▲ 0.1%
Equity and liabilities €1.1m
Equity
€723,194 ▲ 2.0%
Debt
€393,496 ▲ 67.6%
Debt's share of the balance-sheet total rises from 24.9% to 35.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€64,321▲
2023 · €34,300
Cash flow
€59,294▲
2023 · €31,144
Debt to equity
0.54▲
2023 · 0.33
ROE
2.0%▲
2023 · -2.3%
Interest coverage
7.26▲
2023 · 2.99
Debt ≤ 1 year
€268,557▲
2023 · €92,457
Debt > 1 year
€123,916▼
2023 · €142,275
Income taxes
€1,799▲
2023 · €161
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 14,733 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,948 | €40,397 | €41,352 | €47,290 | €44,873 | ▼ 5.1% |
| Other operating charges640/8 | - | €2,880 | €2,988 | €3,467 | €3,446 | ▼ 0.6% |
| Gross operating margin9900 | €191,426 | €179,775 | €94,444 | €37,767 | €67,767 | ▲ 79.4% |
| Operating profit (loss)9901 | €151,613 | €136,498 | €50,103 | -€12,990 | €19,448 | ▲ 250% |
| Financial income75/76B | - | €17,790 | €11,662 | €8,459 | €5,633 | ▼ 33.4% |
| Recurring financial income75 | €14,536 | €17,790 | €11,662 | €8,459 | €5,633 | ▼ 33.4% |
| Financial charges65/66B | - | €8,783 | €10,967 | €11,453 | €8,861 | ▼ 22.6% |
| Recurring financial charges65 | €8,486 | €8,783 | €10,967 | €11,453 | €8,861 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | €157,663 | €145,505 | €50,798 | -€15,984 | €16,220 | ▲ 201% |
| Income taxes67/77 | €45,967 | €31,777 | €18,174 | €161 | €1,799 | ▲ 1,016% |
| Profit (loss) for the period9904 | €111,696 | €113,728 | €32,624 | -€16,146 | €14,421 | ▲ 189% |
| Profit (loss) for the period to be appropriated9905 | €111,696 | €113,728 | €32,624 | -€16,146 | €14,421 | ▲ 189% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €981,744 | €1.1m | €1.1m | €943,505 | €1.1m | ▲ 18.4% |
| Fixed assets21/28 | €595,429 | €574,543 | €634,792 | €623,691 | €796,530 | ▲ 27.7% |
| Tangible fixed assets22/27 | €595,429 | €574,543 | €534,792 | €523,691 | €693,530 | ▲ 32.4% |
| Land and buildings22 | - | €539,383 | €506,511 | €493,118 | €483,600 | ▼ 1.9% |
| Plant, machinery and equipment23 | - | €17,053 | €12,317 | €9,076 | €7,210 | ▼ 20.6% |
| Furniture and vehicles24 | - | €9,307 | €7,164 | €12,697 | €12,205 | ▼ 3.9% |
| Other tangible fixed assets26 | - | €8,800 | €8,800 | €8,800 | €8,800 | = |
| Assets under construction and advance payments27 | - | - | - | - | €181,715 | - |
| Financial fixed assets28 | - | - | €100,000 | €100,000 | €103,000 | ▲ 3.0% |
| Current assets29/58 | €386,315 | €499,725 | €455,133 | €319,814 | €320,160 | ▲ 0.1% |
| Amounts receivable after more than one year29 | - | €133,000 | €133,000 | €133,000 | €0 | ▼ 100% |
| Other amounts receivable291 | - | €133,000 | €133,000 | €133,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €208,634 | €286,385 | €22,191 | €20,263 | €147,655 | ▲ 629% |
| Trade receivables40 | - | €13,805 | €22,191 | €19,603 | €38,360 | ▲ 95.7% |
| Other amounts receivable41 | - | €272,581 | - | €659 | €109,295 | ▲ 16,476% |
| Current investments50/53 | - | - | €43,912 | €149,773 | €149,773 | = |
| Cash at bank and in hand54/58 | €37,437 | €73,584 | €248,322 | €8,592 | €13,937 | ▲ 62.2% |
| Deferred charges and accrued income490/1 | - | €6,756 | €7,708 | €8,186 | €8,795 | ▲ 7.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €981,744 | €1.1m | €1.1m | €943,505 | €1.1m | ▲ 18.4% |
| Equity10/15 | €578,566 | €692,294 | €724,918 | €708,773 | €723,194 | ▲ 2.0% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €361,466 | €361,466 | €394,090 | €394,090 | €408,511 | ▲ 3.7% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | €35,130 | €35,130 | €35,130 | €35,130 | = |
| Distributable reserves133 | - | €324,477 | €357,101 | €357,101 | €373,381 | ▲ 4.6% |
| Profit (loss) carried forward14 | €198,508 | €312,236 | €312,236 | €296,091 | €296,091 | = |
| Amounts payable17/49 | €403,178 | €381,974 | €365,006 | €234,732 | €393,496 | ▲ 67.6% |
| Amounts payable after more than one year17 | €195,493 | €178,059 | €160,321 | €142,275 | €123,916 | ▼ 12.9% |
| Financial debts170/4 | - | €178,059 | €160,321 | €142,275 | €123,916 | ▼ 12.9% |
| Amounts payable within one year42/48 | €207,684 | €203,915 | €204,685 | €92,457 | €268,557 | ▲ 190% |
| Current portion of amounts payable after more than one year42 | - | €27,465 | €17,738 | €18,046 | €18,359 | ▲ 1.7% |
| Financial debts43 | - | €125,000 | €125,000 | €10,000 | €5,000 | ▼ 50.0% |
| Credit institutions430/8 | - | €125,000 | €125,000 | €10,000 | €5,000 | ▼ 50.0% |
| Trade debts44 | €10,928 | €16,013 | €8,010 | €18,539 | €5,995 | ▼ 67.7% |
| Suppliers440/4 | - | €16,013 | €8,010 | €18,539 | €5,995 | ▼ 67.7% |
| Taxes, remuneration and social security45 | - | €35,438 | €13,928 | €7,084 | €13,850 | ▲ 95.5% |
| Taxes450/3 | - | €31,699 | €13,928 | €7,084 | €11,687 | ▲ 65.0% |
| Remuneration and social security454/9 | - | €3,739 | - | - | €2,163 | - |
| Other amounts payable47/48 | - | - | €40,010 | €38,788 | €225,353 | ▲ 481% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,023 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €111,696 | €113,728 | €32,624 | -€16,146 | €14,421 | ▲ 189% |
| + Depreciation and write-downs630 | €36,948 | €40,397 | €41,352 | €47,290 | €44,873 | ▼ 5.1% |
| Operating cash flow (approximation) | €148,645 | €154,125 | €73,976 | €31,144 | €59,294 | ▲ 90.4% |
| Investment in fixed assets (approximation) | - | -€19,511 | -€101,601 | -€36,188 | -€217,712 | ▼ 502% |
| Change in cash | - | €36,147 | €174,738 | -€239,729 | €5,344 | ▲ 102% |
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
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €14,421
Net result €14,421 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€16,146
Net result drops to -€16,146, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €113,728 ▲1.8%
Net result €113,728, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €500,000Eq €578,566 ▲23.9%
3 profitable years in a row build equity to €578,566.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
02-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 2 days late
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, Hasselt · 1 establishment unit since 1998
Ground area
423 m²
Building footprint
235 m²
Volume, LiDAR
994 m³
2 parcels, Flanders · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
BSWK
since 19982.087.145.535
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71325F0504/00Y003 | Flanders | 267 m² | 1 · 147 m² | 13.6 m · 3 fl. |
| 71323C0046/00X000 | Flanders | 155 m² | 1 · 89 m² | - |
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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 432 EUR awarded · 432 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 432 EUR | 432 EUR |
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Of 9,864 companies in sector 73110 we hold annual accounts for 3,758. 1,873 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
Founded27-05-1998
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463440561
Also
9925:BE0463440561
Registered
29-01-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.