BV-FERRONNERIE

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Private limited companyfounded 2015active for 11 yearsRue Grosmont(C.W.) 31B, 7903 Leuze-en-Hainaut, BelgiumKBO/BCE: BE 0640.800.905

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BV-FERRONNERIEActiveChecked score 92/100

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Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 18-06-2026 at the NBB all 10 filings

Turnover

≈ €2.1m

Estimated: probably between €1.4m and €3.4m

EBIT margin

Not included in this filing

Net result

€162,618▲ 12.6%

2024 · €144,370

Working capital

€577,151▲ 79.6%

2024 · €321,323

In the rankings #5 company by staff growth in Leuze-en-Hainaut #7 employer in Hainaut, Repair and installation of machinery sector

Multi-year overview

2018 to 2025, 8 financial years

Operating result

€225,049

▲ 15.1% 2025

20182025

Net result

€162,618

▲ 12.6% 2025

highest quarter of the sector

20182025

Equity

€417,500

▲ 36.1% 2025

middle half of the sector

20182025

Total assets

€1.4m

▲ 32.8% 2025

middle half of the sector

20182025

Debt

€961,090

▲ 31.3% 2025

20182025

Working capital

€577,151

▲ 79.6% 2025

highest quarter of the sector

20182025

Solvency

30.3%

▲ 0.8pp 2025

middle half of the sector

20182025

Current ratio

2.07

▲ 0.35 2025

middle half of the sector

20182025

Return on assets (ROA)

11.8%

▼ 2.1pp 2025

middle half of the sector

20182025

Staff (FTE)

18.5

▲ 26.7% 2025

highest quarter of the sector

20182025

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20182019202020212022202320242025

Operating result€0.06m-€0.1m▲ 106%-€0.03m€0.003m€0.08m▲ 27×€0.08m▼ 0.9%€0.2m▲ 135%€0.2m▲ 15.1%

Net result€0.03m-€0.08m▲ 132%€0.002m▼ 97.1%€0.004m▲ 63.2%€0.06m▲ 16×€0.06m▲ 3.5%€0.1m▲ 140%€0.2m▲ 12.6%

Equity€0.09m-€0.2m▲ 86.5%€0.1m▼ 27.9%€0.1m▼ 6.2%€0.2m▲ 34.1%€0.2m▲ 37.3%€0.3m▲ 48.9%€0.4m▲ 36.1%

Total assets€0.8m-€0.9m▲ 3.9%€0.8m▼ 14.6%€0.8m▲ 4.5%€0.7m▼ 7.9%€0.8m▲ 14.0%€1.0m▲ 25.8%€1.4m▲ 32.8%

Debt€0.8m-€0.7m▼ 5.7%€0.6m▼ 11.6%€0.7m▲ 6.5%€0.6m▼ 14.9%€0.6m▲ 7.9%€0.7m▲ 18.1%€1.0m▲ 31.3%

Working capital€0.1m-€0.2m▲ 59.4%€0.08m▼ 62.8%€0.2m▲ 96.9%€0.2m▲ 18.8%€0.3m▲ 53.1%€0.3m▲ 9.4%€0.6m▲ 79.6%

Solvency10.5%-18.8%▲ 8.3pp15.8%▼ 2.9pp14.2%▼ 1.6pp20.7%▲ 6.5pp24.9%▲ 4.2pp29.5%▲ 4.6pp30.3%▲ 0.8pp

Current ratio1.44-1.65▲ 0.211.26▼ 0.391.47▲ 0.211.68▲ 0.211.90▲ 0.221.73▼ 0.172.07▲ 0.35

Return on assets (ROA)3.9%-8.7%▲ 4.8pp0.3%▼ 8.4pp0.5%▲ 0.2pp8.0%▲ 7.6pp7.3%▼ 0.7pp13.9%▲ 6.6pp11.8%▼ 2.1pp

Staff (FTE)10.5-13.6▲ 29.5%13.4▼ 1.5%14▲ 4.5%13.5▼ 3.6%14.7▲ 8.9%14.6▼ 0.7%18.5▲ 26.7%

above within below The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). 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 15% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.

The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.4m

19.2%

80.8%

Fixed assets €264,407 ▼ 4.1%

Current assets €1.1m ▲ 46.1%

Equity and liabilities €1.4m

30.3%

69.7%

Equity €417,500 ▲ 36.1%

Debt €961,090 ▲ 31.3%

Debt's share of the balance-sheet total falls from 70.5% to 69.7%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€289,364▲

2024 · €243,179

Cash flow

€226,933▲

2024 · €191,959

Quick ratio

1.27▲

2024 · 1.13

Debt to equity

2.30▼

2024 · 2.39

ROE

39.0%▼

2024 · 47.1%

Interest coverage

30.09▲

2024 · 25.34

Debt ≤ 1 year

€537,031▲

2024 · €441,316

Debt > 1 year

€195,597▼

2024 · €200,860

Income taxes

€61,412▲

2024 · €49,524

Staff costs

€896,770▲

2024 · €708,486

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet

Item	31-12-2021	31-12-2022	31-12-2023	31-12-2024	31-12-2025
Employees at the balance-sheet date	13	14	15	14	20
full-time	12	12	13	12	18
part-time	1	2	2	2	2
in full-time equivalents	12.8	13.4	14.4	13.4	19.4
Average over the year, in full-time equivalents	14	13.5	14.7	14.6	18.5
On a permanent contract	10	11	12	13	17
Joined	9	8	8	3	11
Left	8	7	7	4	5

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2021	2022	2023	2024	2025
Tangible fixed assets	€7,231	€36,930	€10,749	€118,111	€52,884
Depreciation and write-downs of the year	€78,471	€61,016	€55,653	€47,589	€64,315

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines

Balance sheet Code20242025

Assets

Total assets20/58€1.0m€1.4m▲

Fixed assets21/28€0.3m€0.3m▼

Tangible fixed assets22/27€0.3m€0.3m▼

Land and buildings22€0.1m€0.1m▼

Plant, machinery and equipment23€0.05m€0.07m▲

Furniture and vehicles24€0.04m€0.04m▼

Leasing and similar rights25€0.03m€0.03m▼

Financial fixed assets28€0.001m€0.001m=

Current assets29/58€0.8m€1.1m▲

Stocks and contracts in progress3€0.3m€0.4m▲

Stocks30/36€0.3m€0.4m▲

Amounts receivable within one year40/41€0.2m€0.3m▲

Trade receivables40€0.2m€0.3m▲

Other amounts receivable41€0.005m€0.04m▲

Current investments50/53€182€196▲

Cash at bank and in hand54/58€0.3m€0.4m▲

Deferred charges and accrued income490/1€0.006m€0.03m▲

Equity and liabilities

Total equity and liabilities10/49€1.0m€1.4m▲

Equity10/15€0.3m€0.4m▲

Contributions10/11€0.02m€0.02m=

Reserves13€0.02m€0.02m=

Distributable reserves133€0.02m€0.02m=

Profit (loss) carried forward14€0.3m€0.4m▲

Investment grants15€0.01m€0.01m▼

Amounts payable17/49€0.7m€1.0m▲

Amounts payable after more than one year17€0.2m€0.2m▼

Financial debts170/4€0.2m€0.2m▼

Amounts payable within one year42/48€0.4m€0.5m▲

Current portion of amounts payable after more than one year42€0.1m€0.1m▲

Trade debts44€0.2m€0.2m▲

Suppliers440/4€0.2m€0.2m▲

Advances received on contracts in progress46€0.005m-

Taxes, remuneration and social security45€0.1m€0.1m▲

Taxes450/3€0.03m€0.07m▲

Remuneration and social security454/9€0.09m€0.07m▼

Other amounts payable47/48€4€0.04m▲

Accrued charges and deferred income492/3€0.09m€0.2m▲

Income statement Code20242025

Remuneration, social security and pensions62€0.7m€0.9m▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.05m€0.06m▲

Other operating charges640/8€0.02m€0.02m▼

Gross operating margin9900€1.0m€1.2m▲

Operating profit (loss)9901€0.2m€0.2m▲

Financial income75/76B€0.008m€0.009m▲

Recurring financial income75€0.008m€0.009m▲

Financial charges65/66B€0.01m€0.01m▲

Recurring financial charges65€0.01m€0.01m▲

Profit (loss) for the period before taxes9903€0.2m€0.2m▲

Income taxes67/77€0.05m€0.06m▲

Profit (loss) for the period9904€0.1m€0.2m▲

Profit (loss) for the period to be appropriated9905€0.1m€0.2m▲

Appropriation of the result

Profit (loss) to be appropriated9906€0.3m€0.4m▲

Profit (loss) brought forward from the previous period14P€0.2m€0.3m▲

Profit to be distributed694/7€0.04m€0.05m▲

Return on contributions (dividend)694€0.04m€0.05m▲

Social balance sheet

Average headcount (FTE)908714.618.5▲

The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 18-06-2026.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	-	-	-	€0.02m	-	-	-	-	-
Remuneration, social security and pensions62	-	-	-	€0.6m	€0.5m	€0.6m	€0.7m	€0.9m	▲ 26.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.1m	€0.1m	€0.08m	€0.08m	€0.06m	€0.06m	€0.05m	€0.06m	▲ 35.1%
Other operating charges640/8	-	-	-	€0.007m	€0.01m	€0.01m	€0.02m	€0.02m	▼ 8.1%
Gross operating margin9900	€0.6m	€0.8m	€0.6m	€0.7m	€0.7m	€0.7m	€1.0m	€1.2m	▲ 24.0%
Operating profit (loss)9901	€0.06m	€0.1m	-€0.03m	€0.003m	€0.08m	€0.08m	€0.2m	€0.2m	▲ 15.1%
Financial income75/76B	-	-	-	€0.008m	€0.007m	€0.007m	€0.008m	€0.009m	▲ 8.8%
Recurring financial income75	€250	€40	€0.05m	€0.008m	€0.007m	€0.007m	€0.008m	€0.009m	▲ 8.8%
Financial charges65/66B	-	-	-	€0.007m	€0.02m	€0.009m	€0.01m	€0.01m	▲ 0.2%
Recurring financial charges65	€0.01m	€0.01m	€0.01m	€0.007m	€0.007m	€0.007m	€0.01m	€0.01m	▲ 0.2%
Non-recurring financial charges66B	-	-	-	-	€0.01m	€0.002m	-	-	-
Profit (loss) for the period before taxes9903	€0.05m	€0.1m	€0.002m	€0.004m	€0.07m	€0.08m	€0.2m	€0.2m	▲ 15.5%
Income taxes67/77	€0.01m	€0.03m	-€0	€492	€0.02m	€0.02m	€0.05m	€0.06m	▲ 24.0%
Profit (loss) for the period9904	€0.03m	€0.08m	€0.002m	€0.004m	€0.06m	€0.06m	€0.1m	€0.2m	▲ 12.6%
Profit (loss) for the period to be appropriated9905	€0.03m	€0.08m	€0.002m	€0.004m	€0.06m	€0.06m	€0.1m	€0.2m	▲ 12.6%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€0.8m	€0.9m	€0.8m	€0.8m	€0.7m	€0.8m	€1.0m	€1.4m	▲ 32.8%
Fixed assets21/28	€0.4m	€0.3m	€0.4m	€0.3m	€0.3m	€0.2m	€0.3m	€0.3m	▼ 4.1%
Tangible fixed assets22/27	€0.4m	€0.3m	€0.4m	€0.3m	€0.2m	€0.2m	€0.3m	€0.3m	▼ 4.2%
Land and buildings22	-	-	-	€0.2m	€0.2m	€0.2m	€0.1m	€0.1m	▼ 11.8%
Plant, machinery and equipment23	-	-	-	€0.03m	€0.01m	€0.01m	€0.05m	€0.07m	▲ 26.1%
Furniture and vehicles24	-	-	-	€0.03m	€0.04m	€0.02m	€0.04m	€0.04m	▼ 10.1%
Leasing and similar rights25	-	-	-	-	-	-	€0.03m	€0.03m	▼ 12.0%
Financial fixed assets28	€285	€420	€0.001m	€0.001m	€0.001m	€0.001m	€0.001m	€0.001m	=
Current assets29/58	€0.5m	€0.6m	€0.4m	€0.5m	€0.5m	€0.6m	€0.8m	€1.1m	▲ 46.1%
Stocks and contracts in progress3	€0.07m	€0.2m	€0.1m	€0.1m	€0.2m	€0.3m	€0.3m	€0.4m	▲ 62.8%
Stocks30/36	-	-	-	€0.1m	€0.2m	€0.3m	€0.3m	€0.4m	▲ 62.8%
Amounts receivable within one year40/41	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	€0.3m	▲ 23.6%
Trade receivables40	-	-	-	€0.1m	€0.2m	€0.2m	€0.2m	€0.3m	▲ 9.4%
Other amounts receivable41	-	-	-	€0.04m	€0.01m	€0.01m	€0.005m	€0.04m	▲ 643%
Current investments50/53	-	€0.02m	€0.03m	-	-	-	€182	€196	▲ 7.7%
Cash at bank and in hand54/58	€0.1m	€0.2m	€0.08m	€0.2m	€0.05m	€0.2m	€0.3m	€0.4m	▲ 42.8%
Deferred charges and accrued income490/1	-	-	-	€0.006m	€0.007m	€0.007m	€0.006m	€0.03m	▲ 311%
Equity and liabilities
Total equity and liabilities10/49	€0.8m	€0.9m	€0.8m	€0.8m	€0.7m	€0.8m	€1.0m	€1.4m	▲ 32.8%
Equity10/15	€0.09m	€0.2m	€0.1m	€0.1m	€0.2m	€0.2m	€0.3m	€0.4m	▲ 36.1%
Contributions10/11	€0.006m	€0.006m	-	€0.02m	€0.02m	€0.02m	€0.02m	€0.02m	=
Reserves13	€0.04m	€0.04m	€0.04m	€0.02m	€0.02m	€0.02m	€0.02m	€0.02m	=
Non-distributable reserves130/1	-	-	-	€0.002m	€0.002m	-	-	-	-
Reserves not available under the articles1311	-	-	-	€0.002m	€0.002m	-	-	-	-
Distributable reserves133	-	-	-	€0.02m	€0.02m	€0.02m	€0.02m	€0.02m	=
Profit (loss) carried forward14	€0.001m	€0.08m	€0.05m	€0.05m	€0.09m	€0.2m	€0.3m	€0.4m	▲ 44.1%
Investment grants15	-	-	-	€0.02m	€0.02m	€0.01m	€0.01m	€0.01m	▼ 14.6%
Amounts payable17/49	€0.8m	€0.7m	€0.6m	€0.7m	€0.6m	€0.6m	€0.7m	€1.0m	▲ 31.3%
Amounts payable after more than one year17	€0.4m	€0.4m	€0.3m	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	▼ 2.6%
Financial debts170/4	-	-	-	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	▼ 2.6%
Amounts payable within one year42/48	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	€0.4m	€0.5m	▲ 21.7%
Current portion of amounts payable after more than one year42	-	-	-	€0.2m	€0.1m	€0.1m	€0.1m	€0.1m	▲ 8.6%
Trade debts44	€0.2m	€0.1m	€0.1m	€0.1m	€0.09m	€0.1m	€0.2m	€0.2m	▲ 18.5%
Suppliers440/4	-	-	-	€0.1m	€0.09m	€0.1m	€0.2m	€0.2m	▲ 18.5%
Advances received on contracts in progress46	-	-	-	-	€74	-	€0.005m	-	-
Taxes, remuneration and social security45	-	-	-	€0.08m	€0.07m	€0.08m	€0.1m	€0.1m	▲ 9.6%
Taxes450/3	-	-	-	€0.007m	€0.003m	€0.001m	€0.03m	€0.07m	▲ 117%
Remuneration and social security454/9	-	-	-	€0.07m	€0.06m	€0.08m	€0.09m	€0.07m	▼ 28.5%
Other amounts payable47/48	-	-	-	€166	€0.002m	€0.009m	€4	€0.04m	▲ 10,417×
Accrued charges and deferred income492/3	-	-	-	€0.1m	€0.09m	€0.1m	€0.09m	€0.2m	▲ 155%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€33,063	€76,673	€2,209	€3,604	€58,129	€60,145	€144,370	€162,618	▲ 12.6%
+ Depreciation and write-downs630	€134,244	€105,508	€79,937	€78,471	€61,016	€55,653	€47,589	€64,315	▲ 35.1%
Operating cash flow (approximation)	€167,308	€182,181	€82,146	€82,075	€119,145	€115,798	€191,959	€226,933	▲ 18.2%
Investment in fixed assets (approximation)	-	-€34,544	-€110,398	-€7,231	-€30,047	-€10,749	-€118,111	-€52,884	▲ 55.2%
Change in cash	-	€65,773	-€104,793	€91,487	-€124,137	€135,562	€72,869	€110,336	▲ 51.4%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 17,811 companies had the same profile as BV-FERRONNERIE has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.

Small
10 to 20 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

96.5% was still going

3.1% stopped otherwise

0.3% went bankrupt

That fits the bankruptcy probability of BV-FERRONNERIE itself: 0.2% within 12 months.

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 17,811 companies, not a prediction for BV-FERRONNERIE. 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 (10)

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	18-06-2026	2026-00172773	PDF
31-12-2024	full format	19-06-2025	2025-00155607	PDF
31-12-2023	full format	21-06-2024	2024-00150797	PDF
31-12-2022	full format	19-06-2023	2023-00136808	PDF
31-12-2021	full format	21-06-2022	2022-20077793	PDF
31-12-2020	full format	01-07-2021	2021-29500458	PDF
31-12-2019	full format	23-06-2020	2020-19900550	PDF
31-12-2018	micro format	28-06-2019	2019-25800341	PDF
31-12-2017	full format	17-07-2018	2018-33800528	PDF
31-12-2016	full format	29-08-2017	2017-51700110	PDF

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