GROUP BORGES
ActiveSummary
The computed 12-month bankruptcy probability of GROUP BORGES is 3.3% (moderate). The 2025 annual accounts show equity of €136k and a net result of €29k. Equity is growing by ~34.4% per year across the filed fiscal years. Its solvency ranks better than 86% of 27786 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▼-6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
3.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 5.2 against 7.64 in 2024; short-term debt: 19.2% and cash: 22.5% of total assets), and 19.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
80.8%
Return on assets
17.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
28 d late
2024
61 d late
2023
26 d late
2022
31 d late
2021
75 d late
2020
9 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€136k▲ 27.1%
2024 · €107k
2020: €19k
2021: €35k
2022: €59k
2023: €80k
2024: €107k
2020 → 2025
Total assets
€168k▲ 36.9%
2024 · €123k
2020: €102k
2021: €63k
2022: €75k
2023: €89k
2024: €123k
2020 → 2025
Net result
€29k▲ 9.3%
2024 · €27k
2020: €17k
2021: €15k
2022: €24k
2023: €21k
2024: €27k
2020 → 2025
Working capital
€135k▲ 27.8%
2024 · €106k
2020: €19k
2021: €34k
2022: €59k
2023: €80k
2024: €106k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€35k-€59k▲ 70.7%€80k▲ 36.4%€107k▲ 33.0%€136k▲ 27.1%
Operating result€19k-€31k▲ 60.5%€29k▼ 8.4%€35k▲ 21.6%€39k▲ 10.9%
Net result€15k-€24k▲ 58.2%€21k▼ 12.1%€27k▲ 23.8%€29k▲ 9.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €168k
Fixed assets
€667 ▼ 39.0%
Current assets
€168k ▲ 37.6%
Equity and liabilities €168k
Equity
€136k ▲ 27.1%
Debt
€32k ▲ 102%
Debt's share of the balance-sheet total rises from 13.0% to 19.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€39k▲
2024 · €35k
Cash flow
€29k▲
2024 · €27k
Current ratio
5.20▼
2024 · 7.64
Debt to equity
0.24▲
2024 · 0.15
ROE
21.3%▼
2024 · 24.8%
ROA
17.3%▼
2024 · 21.6%
Interest coverage
35.86▼
2024 · 46.15
Debt ≤ 1 year
€32k▲
2024 · €16k
Income taxes
€9k▲
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€123k€168k▲
Fixed assets21/28€1k€667▼
Tangible fixed assets22/27€1k€667▼
Plant, machinery and equipment23€40-
Furniture and vehicles24€1k€667▼
Current assets29/58€122k€168k▲
Amounts receivable within one year40/41€84k€109k▲
Trade receivables40€80k€105k▲
Other amounts receivable41€4k€3k▼
Cash at bank and in hand54/58€12k€38k▲
Deferred charges and accrued income490/1€26k€21k▼
Equity and liabilities
Total equity and liabilities10/49€123k€168k▲
Equity10/15€107k€136k▲
Contributions10/11€2k€2k=
Profit (loss) carried forward14€105k€134k▲
Amounts payable17/49€16k€32k▲
Amounts payable within one year42/48€16k€32k▲
Trade debts44€3k€8k▲
Suppliers440/4€3k€8k▲
Taxes, remuneration and social security45€13k€24k▲
Taxes450/3€10k€16k▲
Remuneration and social security454/9€3k€8k▲
Income statement
Code20242025
Non-recurring operating income76A-€3k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€204€426▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€37k€41k▲
Operating profit (loss)9901€35k€39k▲
Financial income75/76B€117€197▲
Recurring financial income75€117€197▲
Financial charges65/66B€759€1k▲
Recurring financial charges65€759€1k▲
Profit (loss) for the period before taxes9903€34k€38k▲
Income taxes67/77€8k€9k▲
Profit (loss) for the period9904€27k€29k▲
Profit (loss) for the period to be appropriated9905€27k€29k▲
Appropriation of the result
Profit (loss) to be appropriated9906€105k€134k▲
Profit (loss) brought forward from the previous period14P€78k€105k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2020net €29k ▲9.3%
Operating result €39k, net result €29k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Equity above €100kEq €107k ▲33%
5 profitable years in a row build equity to €107k.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 10.51
Current ratio from 4.68 to 10.51; short-term debt falls from €16k to €8k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 4.68
Current ratio from 2.20 to 4.68; short-term debt falls from €29k to €16k.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
31-12
Financial
Weakest financial yearnet €15k ▼9.9%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Brussel · 1 establishment unit since 2024
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vilvoordsesteenweg 801120 BrusselGround area
3.7 ha
Building footprint
2.1 ha
Volume, LiDAR
226,738 m³
Parcel 21819B0217/00H003, Brussels · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
GROUP BORGES
since 20242.354.812.679
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819B0217/00H003 | Brussels | 3.7 ha | 1 · 2.1 ha | 13.4 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Isobos
BE 0676.502.150
Antwerpen · Eq €136,151
MATHIEU PIRONT ISOLATION
BE 0768.392.527
Limbourg · Eq €135,705
B.PONCELET TOITURES
BE 0872.393.155
Soumagne · Eq €136,250
SA ISOCLEANING
BE 0839.858.068
Hechtel-Eksel · Eq €136,465
JG inv
BE 0828.614.580
Herentals · Eq €136,916
Of 4,271 companies in sector 43230 we hold annual accounts for 1,241. 1,029 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
43310Plastering work
43350Other building finishing work
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.