Bv Consult
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 6 filings
Turnover
≈ €130,000
Estimated: probably between €85,000 and €170,000
Total assets
€80,601▲ 25.4%
2024 · €64,264
Net result
€27,939▲ 128%
2024 · €12,276
Working capital
€34,915▲ 37.7%
2024 · €25,365
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€40,525
▲ 131%
2025
20202025
Net result
€27,939
▲ 128%
2025
middle half of the sector
20202025
Equity
€39,751
▲ 26.8%
2025
middle half of the sector
20202025
Total assets
€80,601
▲ 25.4%
2025
middle half of the sector
20202025
Debt
€40,850
▲ 24.2%
2025
20202025
Working capital
€34,915
▲ 37.7%
2025
middle half of the sector
20202025
Solvency
49.3%
▲ 0.5pp
2025
middle half of the sector
20202025
Current ratio
2.08
▼ 0.09
2025
middle half of the sector
20202025
Return on assets (ROA)
34.7%
▲ 15.6pp
2025
highest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€29,829-€18,434▼ 38.2%€11,791▼ 36.0%€10,450▼ 11.4%€17,553▲ 68.0%€40,525▲ 131%
Net result€19,549within the sector's middle half-€11,612within the sector's middle half▼ 40.6%€7,567within the sector's middle half▼ 34.8%€8,361within the sector's middle half▲ 10.5%€12,276within the sector's middle half▲ 46.8%€27,939within the sector's middle half▲ 128%
Equity€26,959below the sector's middle half-€37,772below the sector's middle half▲ 40.1%€35,339below the sector's middle half▼ 6.4%€34,700below the sector's middle half▼ 1.8%€31,361below the sector's middle half▼ 9.6%€39,751within the sector's middle half▲ 26.8%
Total assets€54,219below the sector's middle half-€51,447below the sector's middle half▼ 5.1%€48,271below the sector's middle half▼ 6.2%€46,003below the sector's middle half▼ 4.7%€64,264below the sector's middle half▲ 39.7%€80,601within the sector's middle half▲ 25.4%
Debt€27,259-€13,675▼ 49.8%€12,932▼ 5.4%€11,303▼ 12.6%€32,903▲ 191%€40,850▲ 24.2%
Working capital€25,340within the sector's middle half-€16,711within the sector's middle half▼ 34.1%€14,838within the sector's middle half▼ 11.2%€33,761within the sector's middle half▲ 128%€25,365within the sector's middle half▼ 24.9%€34,915within the sector's middle half▲ 37.7%
Solvency49.7%within the sector's middle half-73.4%above the sector's middle half▲ 23.7pp73.2%above the sector's middle half▼ 0.2pp75.4%above the sector's middle half▲ 2.2pp48.8%within the sector's middle half▼ 26.6pp49.3%within the sector's middle half▲ 0.5pp
Current ratio1.93within the sector's middle half-2.22within the sector's middle half▲ 0.292.15within the sector's middle half▼ 0.073.99above the sector's middle half▲ 1.842.17within the sector's middle half▼ 1.822.08within the sector's middle half▼ 0.09
Return on assets (ROA)36.1%above the sector's middle half-22.6%above the sector's middle half▼ 13.5pp15.7%above the sector's middle half▼ 6.9pp18.2%above the sector's middle half▲ 2.5pp19.1%above the sector's middle half▲ 0.9pp34.7%above the sector's middle half▲ 15.6pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 131% higher than in 2024 and the highest since 2020. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €80,601
Fixed assets
€13,327 ▼ 22.5%
Current assets
€67,274 ▲ 42.9%
Equity and liabilities €80,601
Equity
€39,751 ▲ 26.8%
Debt
€40,850 ▲ 24.2%
Debt's share of the balance-sheet total falls from 51.2% to 50.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44,384▲
2024 · €18,590
Cash flow
€31,798▲
2024 · €13,313
Debt to equity
1.03▼
2024 · 1.05
ROE
70.3%▲
2024 · 39.1%
Interest coverage
18.53▲
2024 · 7.41
Debt ≤ 1 year
€32,358▲
2024 · €21,712
Debt > 1 year
€8,492▼
2024 · €11,191
Income taxes
€10,879▲
2024 · €3,937
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €15,108 | €17,286 | - |
| Financial fixed assets | €20,000 | - | - | - | - |
| Depreciation and write-downs of the year | €559 | €559 | €770 | €1,037 | €3,860 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,761 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58 | €559 | €559 | €770 | €1,037 | €3,860 | ▲ 272% |
| Other operating charges640/8 | - | €874 | €840 | €1,173 | €1,447 | €950 | ▼ 34.3% |
| Gross operating margin9900 | €35,394 | €19,867 | €13,191 | €12,394 | €20,037 | €45,335 | ▲ 126% |
| Operating profit (loss)9901 | €29,829 | €18,434 | €11,791 | €10,450 | €17,553 | €40,525 | ▲ 131% |
| Financial income75/76B | - | - | €10 | €1,048 | €1,170 | €688 | ▼ 41.1% |
| Recurring financial income75 | €3,000 | - | €10 | €1,048 | €1,170 | €688 | ▼ 41.1% |
| Financial charges65/66B | - | €411 | €350 | €128 | €2,510 | €2,395 | ▼ 4.6% |
| Recurring financial charges65 | €349 | €411 | €350 | €128 | €2,510 | €2,395 | ▼ 4.6% |
| Profit (loss) for the period before taxes9903 | €26,480 | €18,022 | €11,451 | €11,370 | €16,213 | €38,818 | ▲ 139% |
| Income taxes67/77 | €6,931 | €6,410 | €3,884 | €3,009 | €3,937 | €10,879 | ▲ 176% |
| Profit (loss) for the period9904 | €19,549 | €11,612 | €7,567 | €8,361 | €12,276 | €27,939 | ▲ 128% |
| Profit (loss) for the period to be appropriated9905 | €19,549 | €11,612 | €7,567 | €8,361 | €12,276 | €27,939 | ▲ 128% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €54,219 | €51,447 | €48,271 | €46,003 | €64,264 | €80,601 | ▲ 25.4% |
| Fixed assets21/28 | €1,620 | €21,060 | €20,501 | €939 | €17,187 | €13,327 | ▼ 22.5% |
| Tangible fixed assets22/27 | €1,620 | €1,060 | €501 | €939 | €17,187 | €13,327 | ▼ 22.5% |
| Furniture and vehicles24 | - | €1,060 | €501 | €939 | €17,187 | €13,327 | ▼ 22.5% |
| Financial fixed assets28 | - | €20,000 | €20,000 | €0 | - | - | - |
| Current assets29/58 | €52,599 | €30,386 | €27,769 | €45,064 | €47,077 | €67,274 | ▲ 42.9% |
| Amounts receivable within one year40/41 | €24,424 | €7,973 | €2,259 | €28,277 | €28,756 | €12,136 | ▼ 57.8% |
| Trade receivables40 | - | €7,684 | €787 | €5,228 | €8,155 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €290 | €1,472 | €23,049 | €20,601 | €12,136 | ▼ 41.1% |
| Cash at bank and in hand54/58 | €27,783 | €22,023 | €25,023 | €10,709 | €13,411 | €50,753 | ▲ 278% |
| Deferred charges and accrued income490/1 | - | €391 | €488 | €6,077 | €4,910 | €4,385 | ▼ 10.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €54,219 | €51,447 | €48,271 | €46,003 | €64,264 | €80,601 | ▲ 25.4% |
| Equity10/15 | €26,959 | €37,772 | €35,339 | €34,700 | €31,361 | €39,751 | ▲ 26.8% |
| Contributions10/11 | - | €200 | €200 | €200 | €200 | €200 | = |
| Reserves13 | €19,549 | €37,572 | €35,139 | €34,500 | €31,161 | €11,612 | ▼ 62.7% |
| Distributable reserves133 | - | €37,572 | €35,139 | €34,500 | €31,161 | €11,612 | ▼ 62.7% |
| Profit (loss) carried forward14 | €7,210 | - | - | €0 | €0 | €27,939 | - |
| Amounts payable17/49 | €27,259 | €13,675 | €12,932 | €11,303 | €32,903 | €40,850 | ▲ 24.2% |
| Amounts payable after more than one year17 | - | - | - | - | €11,191 | €8,492 | ▼ 24.1% |
| Financial debts170/4 | - | - | - | - | €11,191 | €8,492 | ▼ 24.1% |
| Amounts payable within one year42/48 | €27,259 | €13,675 | €12,932 | €11,303 | €21,712 | €32,358 | ▲ 49.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €2,597 | €2,699 | ▲ 3.9% |
| Financial debts43 | - | €1,244 | €305 | €1,458 | €591 | €1,082 | ▲ 82.9% |
| Credit institutions430/8 | - | €1,244 | €305 | €1,458 | €591 | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | - | €1,082 | - |
| Trade debts44 | €4,706 | €8,031 | €1,827 | €836 | €2,772 | €1,803 | ▼ 35.0% |
| Suppliers440/4 | - | €8,031 | €1,827 | €836 | €2,772 | €1,803 | ▼ 35.0% |
| Taxes, remuneration and social security45 | - | €358 | €704 | €9 | €137 | €7,225 | ▲ 53× |
| Taxes450/3 | - | €358 | €704 | €9 | €137 | €7,225 | ▲ 53× |
| Other amounts payable47/48 | - | €4,042 | €10,095 | €9,000 | €15,614 | €19,549 | ▲ 25.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,549 | €11,612 | €7,567 | €8,361 | €12,276 | €27,939 | ▲ 128% |
| + Depreciation and write-downs630 | €58 | €559 | €559 | €770 | €1,037 | €3,860 | ▲ 272% |
| Operating cash flow (approximation) | €19,608 | €12,171 | €8,126 | €9,131 | €13,313 | €31,798 | ▲ 139% |
| Investment in fixed assets (approximation) | - | -€20,000 | €0 | €18,792 | -€17,286 | €0 | - |
| Change in cash | - | -€5,761 | €3,000 | -€14,313 | €2,702 | €37,342 | ▲ 14× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as Bv Consult has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Bv Consult itself is lower: 0.1% within 12 months. It rests on far more data about Bv Consult than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for Bv Consult. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-06-2026 | 2026-00171066 | |
| 31-12-2024 | abbreviated format | 17-06-2025 | 2025-00142895 | |
| 31-12-2023 | abbreviated format | 14-06-2024 | 2024-00128411 | |
| 31-12-2022 | abbreviated format | 12-06-2023 | 2023-00119016 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20118291 | |
| 31-12-2020 | abbreviated format | 16-07-2021 | 2021-36400049 |