Summary
BTAS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €311,946 and a net result of -€41,095. Equity is shrinking by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 53% of 5565 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
11 d late
2024
30 d early
2023
29 d early
2022
34 d early
2021
33 d early
2020
32 d early
2019
31 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 25 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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
€311,946▼ 11.6%
2024 · €353,041
Net result
-€41,095▼ 452%
2024 · -€7,443
Total assets
€573,243▼ 5.1%
2024 · €604,188
Solvency
54.4%▼ 4.0pp
2024 · 58.4%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20212022202320242025
Operating result-€20,385▲ 13.9%€15,152-€62,219-€61,704▲ 0.8%-€61,806▼ 0.2%
Net result€33,042within the sector's middle half€37,906within the sector's middle half▲ 14.7%-€64,004below the sector's middle half-€7,443below the sector's middle half▲ 88.4%-€41,095below the sector's middle half▼ 452%
Equity€386,581within the sector's middle half▲ 9.3%€424,487within the sector's middle half▲ 9.8%€360,484within the sector's middle half▼ 15.1%€353,041within the sector's middle half▼ 2.1%€311,946within the sector's middle half▼ 11.6%
Total assets€486,459below the sector's middle half▼ 4.2%€532,666below the sector's middle half▲ 9.5%€656,979within the sector's middle half▲ 23.3%€604,188below the sector's middle half▼ 8.0%€573,243below the sector's middle half▼ 5.1%
Debt€99,878▼ 35.3%€108,179▲ 8.3%€296,495▲ 174%€251,147▼ 15.3%€261,297▲ 4.0%
Working capital€328,267▲ 19.1%€385,742▲ 17.5%€541,306▲ 40.3%€553,041▲ 2.2%€511,946▼ 7.4%
Solvency79.5%above the sector's middle half▲ 9.9pp79.7%above the sector's middle half▲ 0.2pp54.9%within the sector's middle half▼ 24.8pp58.4%within the sector's middle half▲ 3.6pp54.4%within the sector's middle half▼ 4.0pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €61,806 in 2025 against €61,704 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €573,243
Equity
€311,946 ▼ 11.6%
Debt
€261,297 ▲ 4.0%
Debt's share of the balance-sheet total rises from 41.6% to 45.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-13.2%▼
2024 · -2.1%
ROA
-7.2%▼
2024 · -1.2%
Debt ≤ 1 year
€61,297▲
2024 · €51,147
Debt > 1 year
€200,000=
2024 · €200,000
Income taxes
€280▼
2024 · €623
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,604 | €19,604 | €19,568 | €19,178 | - | - |
| Other operating charges640/8 | €282 | €450 | €493 | €505 | €527 | ▲ 4.4% |
| Gross operating margin9900 | -€500 | €35,206 | -€42,158 | -€42,021 | -€61,279 | ▼ 45.8% |
| Operating profit (loss)9901 | -€20,385 | €15,152 | -€62,219 | -€61,704 | -€61,806 | ▼ 0.2% |
| Financial income75/76B | €56,094 | €51,581 | €8,151 | €86,351 | €22,760 | ▼ 73.6% |
| Recurring financial income75 | €4,228 | €6,810 | €8,151 | €86,351 | €22,760 | ▼ 73.6% |
| Non-recurring financial income76B | €51,866 | €44,771 | - | - | - | - |
| Financial charges65/66B | €3,199 | €29,916 | €9,936 | €31,467 | €1,768 | ▼ 94.4% |
| Recurring financial charges65 | €3,199 | €2,914 | €3,251 | €31,467 | €1,768 | ▼ 94.4% |
| Non-recurring financial charges66B | - | €27,002 | €6,686 | - | - | - |
| Profit (loss) for the period before taxes9903 | €32,510 | €36,818 | -€64,004 | -€6,820 | -€40,814 | ▼ 498% |
| Income taxes67/77 | -€532 | -€1,088 | -€0 | €623 | €280 | ▼ 55.0% |
| Profit (loss) for the period9904 | €33,042 | €37,906 | -€64,004 | -€7,443 | -€41,095 | ▼ 452% |
| Profit (loss) for the period to be appropriated9905 | €33,042 | €37,906 | -€64,004 | -€7,443 | -€41,095 | ▼ 452% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €486,459 | €532,666 | €656,979 | €604,188 | €573,243 | ▼ 5.1% |
| Fixed assets21/28 | €58,350 | €38,746 | €19,178 | - | - | - |
| Tangible fixed assets22/27 | €58,350 | €38,746 | €19,178 | - | - | - |
| Plant, machinery and equipment23 | €817 | €391 | - | - | - | - |
| Furniture and vehicles24 | €57,533 | €38,355 | €19,178 | - | - | - |
| Current assets29/58 | €428,110 | €493,920 | €637,801 | €604,188 | €573,243 | ▼ 5.1% |
| Amounts receivable after more than one year29 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Other amounts receivable291 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Amounts receivable within one year40/41 | €13,335 | €1,686 | €302,087 | €300,863 | €309,531 | ▲ 2.9% |
| Trade receivables40 | €2,723 | - | €300,000 | €300,000 | €307,891 | ▲ 2.6% |
| Other amounts receivable41 | €10,613 | €1,686 | €2,087 | €863 | €1,639 | ▲ 90.0% |
| Current investments50/53 | €275,094 | €262,199 | €260,314 | €189,807 | €186,632 | ▼ 1.7% |
| Cash at bank and in hand54/58 | €123,752 | €213,382 | €56,212 | €93,262 | €58,598 | ▼ 37.2% |
| Deferred charges and accrued income490/1 | €929 | €1,653 | €4,188 | €5,256 | €3,482 | ▼ 33.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €486,459 | €532,666 | €656,979 | €604,188 | €573,243 | ▼ 5.1% |
| Equity10/15 | €386,581 | €424,487 | €360,484 | €353,041 | €311,946 | ▼ 11.6% |
| Contributions10/11 | €130,000 | €130,000 | €130,000 | €130,000 | €130,000 | = |
| Profit (loss) carried forward14 | €256,581 | €294,487 | €230,484 | €223,041 | €181,946 | ▼ 18.4% |
| Amounts payable17/49 | €99,878 | €108,179 | €296,495 | €251,147 | €261,297 | ▲ 4.0% |
| Amounts payable after more than one year17 | - | - | €200,000 | €200,000 | €200,000 | = |
| Financial debts170/4 | - | - | €200,000 | €200,000 | €200,000 | = |
| Amounts payable within one year42/48 | €99,843 | €108,179 | €96,495 | €51,147 | €61,297 | ▲ 19.8% |
| Trade debts44 | €732 | €9,652 | €369 | €55 | €7,751 | ▲ 13,942% |
| Suppliers440/4 | €732 | €9,652 | €369 | €55 | €7,751 | ▲ 13,942% |
| Taxes, remuneration and social security45 | - | €4,445 | €84 | - | - | - |
| Taxes450/3 | - | €4,445 | €84 | - | - | - |
| Other amounts payable47/48 | €99,111 | €94,082 | €96,042 | €51,092 | €53,546 | ▲ 4.8% |
| Accrued charges and deferred income492/3 | €35 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,042 | €37,906 | -€64,004 | -€7,443 | -€41,095 | ▼ 452% |
| + Depreciation and write-downs630 | €19,604 | €19,604 | €19,568 | €19,178 | - | - |
| Operating cash flow (approximation) | €52,646 | €57,510 | -€44,435 | €11,735 | -€41,095 | ▼ 450% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | €89,630 | -€157,170 | €37,050 | -€34,664 | ▼ 194% |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€64,004
Net result drops to -€64,004, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €37,906 ▲14.7%
Operating result €15,152, net result €37,906, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €33,042
Net result €33,042 after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €2,843
Net result €2,843 after one loss-making year.
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 22 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
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, Kapellen · 1 establishment unit since 2009
Ground area
3,006 m²
Building footprint
225 m²
Parcel 11902H0026/00S000, Flanders. Linked by address, not a title deed.
1 establishment unit
BTAS
since 20092.178.274.263
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902H0026/00S000 | Flanders | 3,006 m² | 1 · 225 m² | - |
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
Legal Entity Identifier
967600L9FU2GY6BMHN04
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 13,782 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
Founded15-05-2009
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
64999Other financial services
68310Real estate agency activities
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0811770135
Also
9925:BE0811770135
Registered
08-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.