BYCO
ActiveSummary
BYCO has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21,985 and a net result of -€16,514. Equity is shrinking by about 15% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2028. Its solvency ranks better than 40% of 11,191 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
- Equity
- €21,985
- Loss
- -€16,514
- Parent
- EMIVAL · 100%
Why 67raises riskLoss of €16,514, the second in a row (financial year 2025)Liquidity: current ratio 1.26, cash €0, halvedlowers riskSize: total assets €106,719Legal form: public limited companyShow the evidence
Checked score
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 41% on solvency, 9% on liquidity, 4% on profitability and 13% on growth.
The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 37 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- RestructuringResignations: Valérie BIJVOET, Emily BIJVOET…
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €10,008 after €2,822 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,221 companies that looked in July 2024 the way this one looks now, 3.8% went bankrupt within 24 months and 88.5% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,221 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,288 | €27,705 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,909 | €4,396 | €4,056 | €1,131 | €244 | €244 | €244 | €244 | = |
| Other operating charges640/8 | - | - | - | €4,332 | €2,784 | €3,183 | €1,645 | €1,866 | ▲ 13.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €15,700 | €0 | - | - |
| Gross operating margin9900 | €5,847 | €9,408 | €2,788 | €20,284 | -€10,881 | €10,984 | €4,711 | -€7,897 | - |
| Operating profit (loss)9901 | €937 | €3,614 | -€2,764 | €14,821 | -€13,910 | -€8,144 | €2,822 | -€10,008 | - |
| Financial income75/76B | - | - | - | €3,452 | €20,009 | €0 | €0 | - | - |
| Recurring financial income75 | €1,338 | €3,547 | €4,850 | €3,452 | €20,009 | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €2,948 | €4,347 | €7,915 | €6,512 | €5,351 | ▼ 17.8% |
| Recurring financial charges65 | €712 | €661 | €1,948 | €2,948 | €4,347 | €7,915 | €6,512 | €5,351 | ▼ 17.8% |
| Profit (loss) for the period before taxes9903 | €1,562 | €6,501 | €138 | €15,325 | €1,752 | -€16,059 | -€3,690 | -€15,358 | ▼ 316% |
| Income taxes67/77 | - | - | €175 | €736 | €1,315 | €1,369 | €1,318 | €1,156 | ▼ 12.3% |
| Profit (loss) for the period9904 | €1,562 | €6,501 | -€37 | €14,589 | €437 | -€17,428 | -€5,008 | -€16,514 | ▼ 230% |
| Profit (loss) for the period to be appropriated9905 | €1,562 | €6,501 | -€37 | €14,589 | €437 | -€17,428 | -€5,008 | -€16,514 | ▼ 230% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €123,927 | €117,683 | €103,482 | €125,985 | €76,153 | €83,037 | €86,328 | €106,719 | ▲ 23.6% |
| Fixed assets21/28 | €9,343 | €6,407 | €2,351 | €1,221 | €1,351 | €1,107 | €863 | €619 | ▼ 28.3% |
| Tangible fixed assets22/27 | €9,343 | €6,407 | €2,351 | €1,221 | €976 | €732 | €488 | €244 | ▼ 50.0% |
| Plant, machinery and equipment23 | - | - | - | €1,221 | €976 | €732 | €488 | €244 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | - | - | - | - | €375 | €375 | €375 | €375 | = |
| Current assets29/58 | €114,584 | €111,276 | €101,131 | €124,764 | €74,802 | €81,930 | €85,465 | €106,100 | ▲ 24.1% |
| Amounts receivable within one year40/41 | €21,518 | €36,888 | €32,304 | €49,644 | €31,187 | €27,114 | €68,678 | €103,815 | ▲ 51.2% |
| Trade receivables40 | - | - | - | €2,068 | €683 | €27,114 | €58,678 | €103,815 | ▲ 76.9% |
| Other amounts receivable41 | - | - | - | €47,576 | €30,504 | €0 | €10,000 | €0 | ▼ 100% |
| Current investments50/53 | €92,675 | €68,974 | €55,714 | €47,318 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | - | €5,012 | €10,990 | €20,885 | €38,841 | €50,266 | €14,352 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | - | €6,917 | €4,774 | €4,549 | €2,435 | €2,285 | ▼ 6.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €123,927 | €117,683 | €103,482 | €125,985 | €76,153 | €83,037 | €86,328 | €106,719 | ▲ 23.6% |
| Equity10/15 | €89,446 | €95,947 | €95,909 | €110,498 | €60,935 | €43,507 | €38,499 | €21,985 | ▼ 42.9% |
| Contributions10/11 | €186,000 | €186,000 | €186,000 | €186,000 | €136,000 | €136,000 | €136,000 | €136,000 | = |
| Capital10 | - | - | - | €186,000 | €136,000 | €136,000 | €136,000 | €136,000 | = |
| Issued capital100 | - | - | - | €186,000 | €136,000 | €136,000 | €136,000 | €136,000 | = |
| Profit (loss) carried forward14 | -€96,554 | -€90,053 | -€90,091 | -€75,502 | -€75,065 | -€92,493 | -€97,501 | -€114,015 | ▼ 16.9% |
| Amounts payable17/49 | €34,481 | €21,737 | €7,573 | €15,486 | €15,218 | €39,530 | €47,829 | €84,734 | ▲ 77.2% |
| Amounts payable within one year42/48 | €34,481 | €21,737 | €7,573 | €15,486 | €14,903 | €39,061 | €47,829 | €83,970 | ▲ 75.6% |
| Financial debts43 | - | - | - | - | - | - | - | €4,777 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €4,777 | - |
| Trade debts44 | €435 | €330 | €2,567 | €6,888 | €4,228 | €6,033 | €3,871 | €923 | ▼ 76.1% |
| Suppliers440/4 | - | - | - | €6,888 | €4,228 | €6,033 | €3,871 | €923 | ▼ 76.1% |
| Taxes, remuneration and social security45 | - | - | - | €8,599 | €6,609 | €20,669 | €15,321 | €16,553 | ▲ 8.0% |
| Taxes450/3 | - | - | - | €8,599 | €6,609 | €20,669 | €15,321 | €16,553 | ▲ 8.0% |
| Other amounts payable47/48 | - | - | - | - | €4,066 | €12,360 | €28,637 | €61,717 | ▲ 116% |
| Accrued charges and deferred income492/3 | - | - | - | - | €315 | €468 | €0 | €765 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,562 | €6,501 | -€37 | €14,589 | €437 | -€17,428 | -€5,008 | -€16,514 | ▼ 230% |
| + Depreciation and write-downs630 | €3,909 | €4,396 | €4,056 | €1,131 | €244 | €244 | €244 | €244 | = |
| Operating cash flow (approximation) | €5,471 | €10,896 | €4,019 | €15,720 | €681 | -€17,184 | -€4,764 | -€16,270 | ▼ 242% |
| Investment in fixed assets (approximation) | - | -€1,460 | €0 | €0 | -€375 | €0 | €0 | €0 | - |
| Change in cash | - | - | €5,978 | €9,896 | €17,956 | €11,425 | -€35,914 | -€14,352 | ▲ 60.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-07-2026 | 2026-00241467 |
| 31-12-2024 | micro format | 26-05-2025 | 2025-00105447 |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00247852 |
| 31-12-2022 | abbreviated format | 14-07-2023 | 2023-00236822 |
| 31-12-2021 | abbreviated format | 30-05-2022 | 2022-20042632 |
| 31-12-2020 | micro format | 01-07-2021 | 2021-29000450 |
| 31-12-2019 | micro format | 24-06-2020 | 2020-21500599 |
| 31-12-2018 | micro format | 24-06-2019 | 2019-21000060 |
| 31-12-2017 | micro format | 25-06-2018 | 2018-21600115 |
| 31-12-2016 | micro format | 28-06-2017 | 2017-22000186 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €578 awarded · €572 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €283 | €277 |
| 2023 | 1 | €295 | €295 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Day-to-day management 2
Not every act has been read: a resignation may still be missing
Mandate history
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| BIJVOET Bruno |
|
| THEUNISSEN Monique |
|
Owners and capital
Owners
1 ownerChain of control
- EMIVAL
- BYCO
Highest known parent: EMIVAL. The sources do not say who stands above it.
Owners 1
-
100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- EMIVAL (BE 0773.801.266) 186 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 12-10-2026 Capital stated in the deed · €136,000 · 186 shares
Group and network
Connections & network
2 office holdersThe network starts from this company’s directors. Other companies they run appear here as nodes.
Acquisitions and mergers
1 transactionHistory
Acts, filings and financial milestones
12-10
Gazette deed
RestructuringResignations: Valérie BIJVOET, Emily BIJVOET and 2 others · Merger · Declaration30 facts ▸
- Merger, 22-09-2026
- Declaration, “statutes not amended since last amendment” (deed in Dutch) (2 times)
- Director in office, Valérie BIJVOET (director) (2 times)
- Director in office, Emily BIJVOET (director) (2 times)
- Director in office, Bruno BIJVOET ((gedelegeerd) bestuurder) (2 times)
- Director in office, Monique THEUNISSEN ((gedelegeerd) bestuurder) (2 times)
- Other provision, “commitment to execute merger, Eric GILISSEN” (deed in Dutch)
- Other provision, “proposal to execute merger by absorption equivalent transaction” (deed in Dutch)
- Capital, €136,000
- Other provision, “no other securities issued, Door de Over te nemen vennootschap werden er geen andere effecten, obligaties dan wel inschrijvingsrechten op naam uitgegeven. Evenm…” (deed in Dutch)
- Shareholding, “datum van opstelling van dit voorstel”, 186 (deed in Dutch)
- Capital
- +18 further facts in this act
13-02
Gazette deed
Appointment: THEUNISSEN Monique (managing director)Reappointment: BIJVOET Bruno (managing director) · Amendment of the articles · Power of attorney7 facts ▸
- General meeting, “eenparigheid van stemmen” (deed in Dutch)
- Amendment of the articles
- Power of attorney
- Power of attorney, Sofie Janssen
- Board meeting, “onmiddellijk na algemene vergadering der aandeelhouders, allen geldig aanwezig of vertegenwoordigd” (deed in Dutch)
- Director appointment, THEUNISSEN Monique (managing director)
- Director reappointment, BIJVOET Bruno (managing director)
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71322B0201/00A004 | Flanders | 2,507 m² | 1 · 185 m² | 7.4 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “A. Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende…” (deed in Dutch)
10 activities (deed in Dutch)
- A. Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals de huurfinanciering van onroerende goederen aan derden, het aankopen, verkopen, ruilen, bouwen, verbouwen, onderhouden, verhuren, huren, verkavelen, prospecteren en uitbaten van onroerende goederen; de aan en verkoop, huur en verhuur van roerende goederen, alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen, alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze roerende en onroerende goederen
- B. Het aanleggen, het oordeelkundig uitbouwen en beheren van een roerend patrimonium, alle verrichtingen met betrekking tot roerende goederen en rechten, van welke aard ook, zoals het verwerven door inschrijving of aankoop en het beheren van aandelen, obligaties, kasbons of andere roerende waarden, van welke vorm ook, van Belgische of buitenlandse, bestaande of nog op te richten rechtspersonen en ondernemingen
- A. Het verwerven van participaties in eender welke vorm in alle bestaande of op te richten rechtspersonen en vennootschappen, het stimuleren, de planning, de coördinatie van de ontwikkeling en investering in rechtspersonen en ondernemingen waarin zij al of niet participatie aanhoudt
- B. Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren, onder om het even welke vorm; in dit kader kan zij zich ook borg stellen of haar aval verlenen, in de meest ruime zin, alle handels en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken, houders van deposito's op korte termijn, spaarkassen, hypotheekmaatschappijen en kapitalisatieondernemingen
- C. Het verlenen van adviezen van financiële, technische, commerciële of administratieve aard; in de ruimste zin, met uitzondering van adviezen inzake beleggingen en geldplaatsingen; bijstand en diensten verlenen, rechtstreeks of onrechtstreeks op het vlak van administratie en financiën, verkoop, productie en algemeen bestuur
- D. Het waarnemen van alle bestuursopdrachten, het uitoefenen van opdrachten en functies
- E. Het ontwikkelen, kopen, verkopen, in licentie nemen of geven van octrooien, knowhow en aanverwante immateriële duurzame activa
- F. Het verlenen van administratieve prestaties en computerservices
- G. De aan en verkoop, in en uitvoer, commissiehandel en vertegenwoordiging van om het even welke goederen, in 't kort tussenpersoon in de handel
- H. Het onderzoek, de ontwikkeling, de vervaardiging of commercialisering van nieuwe producten, nieuwe vormen van technologie en hun toepassingen
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- A managing director alone