BTH SOLUTIONS
ActiveSummary
The computed 12-month bankruptcy probability of BTH SOLUTIONS is 1.8% (moderate). The 2025 annual accounts show equity of €70,801 and a net result of €164,361. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 1913 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+2
Solvency34▼-60
Growth58▼-20
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity tight (current ratio 1.0 against 2.83 in 2024; short-term debt: 91.4% and cash: 68.4% of total assets), and 91.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% 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
8.6%
Return on assets
19.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 1913 sector peers (2025).
NBB · sector comparisonPosition among 1913 sector peers
Solvency
better than 14%
← weakest
strongest →
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 05-05-2026, 87 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
87 d early
2024
21 d late
2023
42 d early
2022
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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, micro schema
Equity
€70,801▼ 87.2%
2024 · €552,439
Total assets
€826,872▲ 3.0%
2024 · €802,821
Net result
€164,361▲ 9.0%
2024 · €150,845
Working capital
€1,942▼ 99.6%
2024 · €440,365
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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
Line2022202320242025
Operating result€153,026-€364,437▲ 138%€193,535▼ 46.9%€220,814▲ 14.1%
Net result€118,368above the sector's middle half-€278,227above the sector's middle half▲ 135%€150,845above the sector's middle half▼ 45.8%€164,361above the sector's middle half▲ 9.0%
Equity€123,368within the sector's middle half-€401,595above the sector's middle half▲ 226%€552,439above the sector's middle half▲ 37.6%€70,801within the sector's middle half▼ 87.2%
Total assets€448,443above the sector's middle half-€911,049above the sector's middle half▲ 103%€802,821above the sector's middle half▼ 11.9%€826,872above the sector's middle half▲ 3.0%
Debt€325,075-€509,454▲ 56.7%€250,382▼ 50.9%€756,071▲ 202%
Working capital€169,416-€472,150▲ 179%€440,365▼ 6.7%€1,942▼ 99.6%
Solvency27.5%within the sector's middle half-44.1%within the sector's middle half▲ 16.6pp68.8%within the sector's middle half▲ 24.7pp8.6%below the sector's middle half▼ 60.2pp
Staff (FTE)0.91▲ 11.1%1=
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 14% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €826,872
Fixed assets
€69,155 ▼ 43.2%
Current assets
€757,717 ▲ 11.3%
Equity and liabilities €826,872
Equity
€70,801 ▼ 87.2%
Debt
€756,071 ▲ 202%
Debt's share of the balance-sheet total rises from 31.2% to 91.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€273,192▲
2024 · €259,864
Cash flow
€216,740▼
2024 · €217,174
Current ratio
1.00▼
2024 · 2.83
Debt to equity
10.68▲
2024 · 0.45
ROE
232.1%▲
2024 · 27.3%
ROA
19.9%▲
2024 · 18.8%
Interest coverage
259.23▲
2024 · 172.48
Debt ≤ 1 year
€755,775▲
2024 · €240,610
Income taxes
€57,066▲
2024 · €45,530
Staff costs
€39,015▲
2024 · €35,853
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,155 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
2.6%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,058 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% | 1.6% |
| 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 74% 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 2,155 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €32,082 | €35,853 | €39,015 | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,523 | €60,185 | €66,329 | €52,378 | ▼ 21.0% |
| Other operating charges640/8 | €1,012 | €1,519 | €704 | €1,372 | ▲ 94.9% |
| Gross operating margin9900 | €212,561 | €458,223 | €296,421 | €313,580 | ▲ 5.8% |
| Operating profit (loss)9901 | €153,026 | €364,437 | €193,535 | €220,814 | ▲ 14.1% |
| Financial income75/76B | €56 | €1,506 | €4,346 | €1,667 | ▼ 61.6% |
| Recurring financial income75 | €56 | €1,506 | €4,346 | €1,667 | ▼ 61.6% |
| Financial charges65/66B | €370 | €774 | €1,507 | €1,054 | ▼ 30.1% |
| Recurring financial charges65 | €370 | €774 | €1,507 | €1,054 | ▼ 30.1% |
| Profit (loss) for the period before taxes9903 | €152,712 | €365,168 | €196,375 | €221,427 | ▲ 12.8% |
| Income taxes67/77 | €34,344 | €86,941 | €45,530 | €57,066 | ▲ 25.3% |
| Profit (loss) for the period9904 | €118,368 | €278,227 | €150,845 | €164,361 | ▲ 9.0% |
| Profit (loss) for the period to be appropriated9905 | €118,368 | €278,227 | €150,845 | €164,361 | ▲ 9.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €448,443 | €911,049 | €802,821 | €826,872 | ▲ 3.0% |
| Fixed assets21/28 | €193,394 | €188,175 | €121,846 | €69,155 | ▼ 43.2% |
| Intangible fixed assets21 | €160,059 | €120,059 | €80,059 | €40,059 | ▼ 50.0% |
| Tangible fixed assets22/27 | €33,335 | €64,066 | €37,737 | €25,046 | ▼ 33.6% |
| Plant, machinery and equipment23 | €8,369 | €14,218 | €6,919 | €2,958 | ▼ 57.2% |
| Furniture and vehicles24 | €24,966 | €49,848 | €30,818 | €22,087 | ▼ 28.3% |
| Financial fixed assets28 | - | €4,050 | €4,050 | €4,050 | = |
| Current assets29/58 | €255,049 | €722,874 | €680,976 | €757,717 | ▲ 11.3% |
| Amounts receivable within one year40/41 | €194,978 | €452,725 | €283,986 | €190,444 | ▼ 32.9% |
| Trade receivables40 | €194,978 | €452,651 | €283,986 | €156,595 | ▼ 44.9% |
| Other amounts receivable41 | - | €74 | - | €33,849 | - |
| Current investments50/53 | - | €150,000 | - | - | - |
| Cash at bank and in hand54/58 | €58,307 | €117,819 | €394,824 | €565,374 | ▲ 43.2% |
| Deferred charges and accrued income490/1 | €1,764 | €2,330 | €2,166 | €1,899 | ▼ 12.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €448,443 | €911,049 | €802,821 | €826,872 | ▲ 3.0% |
| Equity10/15 | €123,368 | €401,595 | €552,439 | €70,801 | ▼ 87.2% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €118,368 | €396,595 | €547,439 | €65,801 | ▼ 88.0% |
| Amounts payable17/49 | €325,075 | €509,454 | €250,382 | €756,071 | ▲ 202% |
| Amounts payable after more than one year17 | €235,842 | €254,942 | €9,587 | - | - |
| Financial debts170/4 | €235,842 | €254,942 | €9,587 | - | - |
| Amounts payable within one year42/48 | €85,633 | €250,724 | €240,610 | €755,775 | ▲ 214% |
| Current portion of amounts payable after more than one year42 | €7,796 | €10,119 | €10,030 | €9,587 | ▼ 4.4% |
| Trade debts44 | €6,736 | €62,735 | €26,221 | €20,702 | ▼ 21.0% |
| Suppliers440/4 | €6,736 | €62,735 | €26,221 | €20,702 | ▼ 21.0% |
| Taxes, remuneration and social security45 | €59,101 | €167,446 | €176,194 | €79,487 | ▼ 54.9% |
| Taxes450/3 | €59,101 | €162,856 | €170,467 | €72,980 | ▼ 57.2% |
| Remuneration and social security454/9 | - | €4,591 | €5,727 | €6,507 | ▲ 13.6% |
| Other amounts payable47/48 | €12,000 | €10,425 | €28,165 | €646,000 | ▲ 2,194% |
| Accrued charges and deferred income492/3 | €3,600 | €3,788 | €185 | €296 | ▲ 60.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €118,368 | €278,227 | €150,845 | €164,361 | ▲ 9.0% |
| + Depreciation and write-downs630 | €58,523 | €60,185 | €66,329 | €52,378 | ▼ 21.0% |
| Operating cash flow (approximation) | €176,891 | €338,412 | €217,174 | €216,740 | ▼ 0.2% |
| Investment in fixed assets (approximation) | - | -€54,966 | €0 | €312 | - |
| Change in cash | - | €59,512 | €277,005 | €170,550 | ▼ 38.4% |
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
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Equity above €500,000Eq €552,439 ▲37.6%
3 profitable years in a row build equity to €552,439.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €278,227 ▲135%
Operating result €364,437, net result €278,227, both a record.
31-12
Financial
Equity above €200,000Eq €401,595 ▲226%
2 profitable years in a row build equity to €401,595.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Grâce-Hollogne · 1 establishment unit since 2021
Ground area
1,021 m²
Building footprint
161 m²
Volume, LiDAR
1,059 m³
Parcel 62046A1547/00R015, Wallonia · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BTH SOLUTIONS
since 20212.328.374.835
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62046A1547/00R015 | Wallonia | 1,021 m² | 1 · 161 m² | 10.5 m · 2 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.
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Of 3,462 companies in sector 25530 we hold annual accounts for 1,655. 1,159 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
Founded17-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
25530Machining of metals
69201Certified accountants and tax accountants
24200Manufacture of basic metals
28120Manufacture of machinery and equipment not elsewhere classified
28150Manufacture of machinery and equipment not elsewhere classified
68201Renting and operating of own or leased residential real estate, excluding social housing
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0778757867
Also
9925:BE0778757867
Registered
21-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.