BAIZHU
ActiveSummary
BAIZHU has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19k and a net result of €43k. Equity is shrinking by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 24% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency47▲+6
Growth46▼-4
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.15 in 2024; short-term debt: 78.4% and cash: 24.8% of total assets), and 78.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
21.6%
Return on assets
49.3%
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 24% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 24%
← 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 07-07-2026, 24 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
24 d early
2024
2 d early
2023
29 d late
2022
10 d late
2021
125 d early
2020
3 d late
2019
31 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€166k▼ 20.0%
2024 · €208k
2018: €204k
2019: €177k▼ -12.9% vs 2018
2020: €90k▼ -48.9% vs 2019lowest in 8 years
2021: €146k▲ +61.0% vs 2020
2022: €236k▲ +62.2% vs 2021
2023: €282k▲ +19.2% vs 2022highest in 8 years
2024: €208k▼ -26.3% vs 2023
2025: €166k▼ -20.0% vs 2024
2018 → 2025
EBIT margin
33.2%▼ 12.9pp
2024 · 46.1%
2018: 11.5%
2019: 38.0%▲ +229% vs 2018
2020: 1.9%▼ -95.1% vs 2019lowest in 8 years
2021: 30.7%▲ +1534% vs 2020
2022: 52.0%▲ +69.4% vs 2021
2023: 61.6%▲ +18.4% vs 2022highest in 8 years
2024: 46.1%▼ -25.1% vs 2023
2025: 33.2%▼ -28.0% vs 2024
2018 → 2025
Net result
€43k▼ 42.4%
2024 · €74k
2018: €18k
2019: €52k▲ +197% vs 2018
2020: €-2k▼ -103% vs 2019lowest in 8 years
2021: €33k▲ +2251% vs 2020
2022: €94k▲ +183% vs 2021
2023: €132k▲ +40.9% vs 2022highest in 8 years
2024: €74k▼ -44.1% vs 2023
2025: €43k▼ -42.4% vs 2024
2018 → 2025
Working capital
€5k▼ 77.4%
2024 · €23k
2018: €46k
2019: €70k▲ +51.7% vs 2018highest in 8 years
2020: €70k▼ -0.8% vs 2019
2021: €39k▼ -43.6% vs 2020
2022: €7k▼ -81.0% vs 2021
2023: €9k▲ +16.5% vs 2022
2024: €23k▲ +165% vs 2023
2025: €5k▼ -77.4% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€146k-€236k▲ 62.2%€282k▲ 19.2%€208k▼ 26.3%€166k▼ 20.0%
2021: €146klowest in 5 years
2022: €236k▲ +62.2% vs 2021
2023: €282k▲ +19.2% vs 2022highest in 5 years
2024: €208k▼ -26.3% vs 2023
2025: €166k▼ -20.0% vs 2024
Equity€41k-€20k▼ 50.6%€20k▲ 0.2%€29k▲ 43.8%€19k▼ 36.7%
2021: €41khighest in 5 years
2022: €20k▼ -50.6% vs 2021
2023: €20k▲ +0.2% vs 2022
2024: €29k▲ +43.8% vs 2023
2025: €19k▼ -36.7% vs 2024lowest in 5 years
Operating result€45k-€123k▲ 175%€173k▲ 41.1%€96k▼ 44.8%€55k▼ 42.4%
2021: €45klowest in 5 years
2022: €123k▲ +175% vs 2021
2023: €173k▲ +41.1% vs 2022highest in 5 years
2024: €96k▼ -44.8% vs 2023
2025: €55k▼ -42.4% vs 2024
Net result€33k-€94k▲ 183%€132k▲ 40.9%€74k▼ 44.1%€43k▼ 42.4%
2021: €33klowest in 5 years
2022: €94k▲ +183% vs 2021
2023: €132k▲ +40.9% vs 2022highest in 5 years
2024: €74k▼ -44.1% vs 2023
2025: €43k▼ -42.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €86k
Fixed assets
€13k ▲ 109%
Current assets
€73k ▼ 59.4%
Equity and liabilities €86k
Equity
€19k ▼ 36.7%
Debt
€68k ▼ 56.8%
Debt's share of the balance-sheet total falls from 84.2% to 78.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€58k▼
2024 · €101k
Cash flow
€45k▼
2024 · €79k
Current ratio
1.08▼
2024 · 1.15
Debt to equity
3.63▼
2024 · 5.32
ROE
228.6%▼
2024 · 251.2%
ROA
49.3%▲
2024 · 39.7%
Interest coverage
440.94▼
2024 · 850.74
Debt ≤ 1 year
€68k▼
2024 · €157k
Income taxes
€12k▼
2024 · €22k
Staff costs
€0
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€186k€86k▼
Fixed assets21/28€6k€13k▲
Tangible fixed assets22/27€4k€4k▲
Furniture and vehicles24€4k€4k▲
Financial fixed assets28€2k€9k▲
Current assets29/58€180k€73k▼
Amounts receivable within one year40/41€29k€50k▲
Trade receivables40€28k€47k▲
Other amounts receivable41€468€4k▲
Cash at bank and in hand54/58€150k€21k▼
Deferred charges and accrued income490/1€966€1k▲
Equity and liabilities
Total equity and liabilities10/49€186k€86k▼
Equity10/15€29k€19k▼
Contributions10/11€19k€19k=
Reserves13€2k€0▼
Distributable reserves133€2k€0▼
Profit (loss) carried forward14€9k€79▼
Amounts payable17/49€157k€68k▼
Amounts payable within one year42/48€157k€68k▼
Financial debts43€2k€3k▲
Credit institutions430/8€2k€3k▲
Trade debts44€683€1k▲
Suppliers440/4€683€1k▲
Taxes, remuneration and social security45€3k€4k▲
Taxes450/3€3k€0▼
Remuneration and social security454/9€0€4k▲
Other amounts payable47/48€151k€60k▼
Income statement
Code20242025
Turnover70€208k€166k▼
Goods, raw materials, services and sundry goods60/61€111k€112k▲
Remuneration, social security and pensions62-€0
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€3k▼
Other operating charges640/8€10k€7k▼
Gross operating margin9900€111k€64k▼
Operating profit (loss)9901€96k€55k▼
Financial income75/76B-€3
Recurring financial income75-€3
Financial charges65/66B€119€131▲
Recurring financial charges65€119€131▲
Profit (loss) for the period before taxes9903€96k€55k▼
Income taxes67/77€22k€12k▼
Profit (loss) for the period9904€74k€43k▼
Profit (loss) for the period to be appropriated9905€74k€43k▼
Appropriation of the result
Profit (loss) to be appropriated9906€74k€52k▼
Profit (loss) brought forward from the previous period14P€68€9k▲
Transfer from equity791/2-€2k
Profit to be distributed694/7€65k€53k▼
Return on contributions (dividend)694€65k€53k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €146k | €236k | €282k | €208k | €166k | ▼ 20.0% |
| Goods, raw materials, services and sundry goods60/61 | - | €115k | €107k | €111k | €112k | ▲ 1.4% |
| Remuneration, social security and pensions62 | - | - | - | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €988 | €3k | €5k | €5k | €3k | ▼ 49.1% |
| Other operating charges640/8 | - | €19k | €15k | €10k | €7k | ▼ 35.0% |
| Gross operating margin9900 | €49k | €145k | €193k | €111k | €64k | ▼ 42.1% |
| Operating profit (loss)9901 | €45k | €123k | €173k | €96k | €55k | ▼ 42.4% |
| Financial income75/76B | - | €642 | €287 | - | €3 | - |
| Recurring financial income75 | €207 | €642 | €287 | - | €3 | - |
| Financial charges65/66B | - | €236 | €143 | €119 | €131 | ▲ 10.5% |
| Recurring financial charges65 | €479 | €236 | €143 | €119 | €131 | ▲ 10.5% |
| Profit (loss) for the period before taxes9903 | €44k | €123k | €174k | €96k | €55k | ▼ 42.5% |
| Income taxes67/77 | €11k | €29k | €41k | €22k | €12k | ▼ 42.6% |
| Profit (loss) for the period9904 | €33k | €94k | €132k | €74k | €43k | ▼ 42.4% |
| Profit (loss) for the period to be appropriated9905 | €33k | €94k | €132k | €74k | €43k | ▼ 42.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €129k | €155k | €170k | €186k | €86k | ▼ 53.6% |
| Fixed assets21/28 | €2k | €13k | €12k | €6k | €13k | ▲ 109% |
| Tangible fixed assets22/27 | €0 | €11k | €10k | €4k | €4k | ▲ 0.2% |
| Furniture and vehicles24 | - | €11k | €10k | €4k | €4k | ▲ 0.2% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €9k | ▲ 350% |
| Current assets29/58 | €127k | €142k | €158k | €180k | €73k | ▼ 59.4% |
| Amounts receivable within one year40/41 | €92k | €114k | €75k | €29k | €50k | ▲ 76.3% |
| Trade receivables40 | - | €97k | €74k | €28k | €47k | ▲ 65.8% |
| Other amounts receivable41 | - | €17k | €723 | €468 | €4k | ▲ 709% |
| Cash at bank and in hand54/58 | €32k | €27k | €83k | €150k | €21k | ▼ 85.7% |
| Deferred charges and accrued income490/1 | - | €779 | €927 | €966 | €1k | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €129k | €155k | €170k | €186k | €86k | ▼ 53.6% |
| Equity10/15 | €41k | €20k | €20k | €29k | €19k | ▼ 36.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €2k | €2k | €2k | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €21k | €31 | €68 | €9k | €79 | ▼ 99.1% |
| Amounts payable17/49 | €88k | €134k | €150k | €157k | €68k | ▼ 56.8% |
| Amounts payable within one year42/48 | €88k | €134k | €150k | €157k | €68k | ▼ 56.8% |
| Financial debts43 | - | €210 | €125 | €2k | €3k | ▲ 17.6% |
| Credit institutions430/8 | - | €210 | €125 | €2k | €3k | ▲ 17.6% |
| Trade debts44 | €2k | €2k | €565 | €683 | €1k | ▲ 47.5% |
| Suppliers440/4 | - | €2k | €565 | €683 | €1k | ▲ 47.5% |
| Taxes, remuneration and social security45 | - | €17k | €13k | €3k | €4k | ▲ 21.4% |
| Taxes450/3 | - | €17k | €13k | €3k | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | €0 | €0 | €0 | €4k | - |
| Other amounts payable47/48 | - | €115k | €136k | €151k | €60k | ▼ 60.0% |
| Accrued charges and deferred income492/3 | - | €220 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33k | €94k | €132k | €74k | €43k | ▼ 42.4% |
| + Depreciation and write-downs630 | €988 | €3k | €5k | €5k | €3k | ▼ 49.1% |
| Operating cash flow (approximation) | €34k | €97k | €137k | €79k | €45k | ▼ 42.9% |
| Investment in fixed assets (approximation) | - | €-14k | €-4k | €0 | €-10k | - |
| Change in cash | - | €-5k | €55k | €68k | €-129k | ▼ 291% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €132k ▲40.9%
Operating result €173k, net result €132k, both a record.
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 3 days late
2020
31-12
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-03
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB 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, Liège · 1 establishment unit since 2017
Ground area
52 m²
Building footprint
56 m²
Volume, LiDAR
600 m³
Parcel 62803D0204/00M007, Wallonia · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BAIZHU
since 20172.261.219.260
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62803D0204/00M007 | Wallonia | 52 m² | 1 · 56 m² | 11.0 m · 3 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.
Structure & network
Connections & network
3 connected companiesThis company
Company
Director
Shareholding
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Shared director
→
Shared director
→
Shared director
→
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 29,820 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
Founded06-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.