DE BAERE INSTALLATIONS

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of DE BAERE INSTALLATIONS is 1.1% (low). The 2023 annual accounts show equity of €349k and a net result of €26k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 72% of 586 sector peers (fiscal year 2023). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2022 and 2023).

View the result trend

Growing equity

Equity grew over 2021-2023. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 30-09-2024 was due at the National Bank by 30-04-2025. Nothing is on record today, 472 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed after the deadline

The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 31-05-2024, 31 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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 30-09. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-09-2023, that is 30-04-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-09-2025	30-04-2026	nothing on record	not filed	-
30-09-2024	30-04-2025	nothing on record	not filed	-
30-09-2023	30-04-2024	31-05-2024	31 d late	2024-00103243
30-09-2022	30-04-2023	04-05-2023	4 d late	2023-00079303
30-09-2021	30-04-2022	31-05-2022	31 d late	2022-20038736
30-09-2020	30-04-2021	28-09-2021	151 d late	2021-69600104
30-09-2019	30-04-2020	03-06-2020	34 d late	2020-14300153
30-09-2018	30-04-2019	09-05-2019	9 d late	2019-12600108
30-09-2017	30-04-2018	29-05-2018	29 d late	2018-14300461
30-09-2016	30-04-2017	09-05-2017	9 d late	2017-11600197
30-09-2015	30-04-2016	22-04-2016	8 d early	2016-10500186
30-09-2014	30-04-2015	31-03-2015	30 d early	2015-08700361

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2013, 13 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.1% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Annual accounts: weaker financial profile +Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€26k+179.3%

Working capital€48k-84.4%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 31-05-2024 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~7.4%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 25 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	55.5%	36.4%	better than 72% of 586 sector peers
Net result	€26k	€12k	better than 71% of 582 sector peers
Equity	€349k	€30k	better than 95% of 586 sector peers
Gross operating margin	€130k	€37k	better than 86% of 581 sector peers
Staff costs	€62k	€37k	higher than 71% of 208 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P72

Stable position over 2020-2023 · n=135-586

Net result P71

Stable position over 2020-2023 · n=135-582

Equity P95

Stable position over 2020-2023 · n=135-586

Gross operating margin P86

Stable position over 2020-2023 · n=135-581

Describes the position versus peers, not a forecast.

EBITDA

€65k

+93.8% 18-23

Net profit

€26k

+179.3% 18-23

Cash flow

€54k

+75.2% 18-23

Total assets

€629k

+59.7% 18-23

Equity

€349k

+8.0% 18-23

Working capital

€48k

-84.4% 18-23

Employees (FTE)

1

-9.1% 18-23

Staff costs

€62k

-7.4% 18-23

Income taxes

€9k

+271.8% 18-23

Debt

€279k

+297.9% 18-23

Debt ≤ 1y

€222k

+454.8% 18-23

Debt > 1y

€55k

+96.6% 18-23

Current ratio

1.22

-86.0% 18-23

Quick ratio

1.16

-85.5% 18-23

Solvency

55.5%

-32.4% 18-23

Debt / equity

0.80

+268.6% 18-23

ROE

7.4%

+158.7% 18-23

ROA

4.1%

+74.9% 18-23

Interest coverage

28.31

+109.6% 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	€65k
Net profit	€26k
Cash flow	€54k
Staff costs	€62k
Income taxes	€9k
Dividends	-
Total assets	€629k
Equity	€349k
Debt	€279k
of which ≤ 1y	€222k
of which > 1y	€55k
Working capital	€48k
Employees (FTE)	1.0

Ratios (computed)

	2023
Current ratio	1.22
Quick ratio	1.16
Working capital ratio	7.6%
Solvency	55.5%
Debt / equity	0.80
Long-term debt ratio	0.16
Interest coverage	28.31
Gross margin	-
Net margin	-
ROA	4.1%
ROE	7.4%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €359k · 57.1% Current assets €270k · 42.9%

Equity & liabilities

Equity €349k · 55.5% Debt €279k · 44.5%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€629k
Fixed assets	21/28	€359k
Tangible fixed assets	22/27	€359k
Current assets	29/58	€270k
Stocks & contracts in progress	3	€12k
Amounts receivable within one year	40/41	€221k
Cash & bank	54/58	€30k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€629k
Equity	10/15	€349k
Contributions / capital	10/11	€6k
Reserves	13	€305k
Accumulated profits (losses)	14	€38k
Amounts payable	17/49	€279k
Amounts payable after one year	17	€55k
Amounts payable within one year	42/48	€222k
Trade debts payable within one year	44	€33k
Income statement
Gross operating margin	9900	€130k
Operating result	9901	€36k
Financial income	75	€625
Financial charges	65	€2k
Result before taxes	9903	€35k
Income taxes	67/77	€9k
Net result for the period	9904	€26k
Result to be appropriated	9905	€26k

You are seeing the latest fiscal year only. 4 prior years (figures + ratios) are in a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

89 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

2 companies at this address See who is registered here

Establishment units

1 location

Vrombautstraat 121, 9900 Eeklo

Vervaardiging van radiatoren, stoomketels en ketels voor centrale verwarming

since 20132.216.306.874

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area1,373 m²

Buildings1

Building footprint136 m²

Volume (LiDAR)742 m³

Tallest building8.3 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
43005C0724/00L000	Flanders	1,373 m²	1 · 136 m²	8.3 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

77 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 89

Profitability 37

Solvency 80

Growth 78

Stability 100

Credit advice

verdict per customer and amount

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We hold annual accounts for 40 of the 361 companies in this sector. 29 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Vervaardiging van radiatoren en ketels voor centrale verwarming25210Vervaardiging van radiatoren, stoomketels en ketels voor centrale verwarming25210Installatie van verwarming, klimaatregeling en ventilatie43222Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit43222Loodgieterswerk43221Sanitaire werkzaamheden43221Handelsbemiddeling in meubelen, huishoudelijke artikelen en ijzerwaren46150Handelsbemiddeling in de groothandel in meubelen, huishoudelijke artikelen en ijzerwaren46150Groothandel in installatiemateriaal voor loodgieterswerk en verwarming46742Groothandel in installatiemateriaal voor loodgieterswerk en verwarming46842Bouwmarkten en andere doe-het-zelfzaken in bouwmaterialen, algemeen assortiment47521Detailhandel in ijzerwaren, bouwmaterialen, verf en glas (algemeen assortiment)47521Overige reiniging van gebouwen; industriële reiniging81220Overige reiniging van gebouwen; industriële reiniging81220

Primary activity highlighted.

Names & trade names

Legal nameNL

DE BAERE INSTALLATIONS

Registered office

Vrombautstraat 121

9900 Eeklo, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.