B.S.F.
ActiveSummary
The annual accounts of B.S.F. for fiscal year 2025 show a net loss of 99% of the equity at the start of that year. The 2025 annual accounts show equity of €430 and a net result of €-53k. Equity is shrinking by ~27.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. The company has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability23▼-8
Solvency25▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.03 against 0.06 in 2024; short-term debt: 34.2% and cash: 0.8% of total assets), and 100% 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-53k
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
4 d late
2023
16 d early
2022
4 d early
2021
5 d early
2020
31 d late
2019
3 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, abbreviated schema
Equity
€430▼ 99.2%
2024 · €54k
2018: €334k
2019: €305k
2020: €285k
2021: €216k
2022: €149k
2023: €91k
2024: €54k
2018 → 2025
Total assets
€1.61M▼ 3.7%
2024 · €1.68M
2018: €1.30M
2019: €1.75M
2020: €1.89M
2021: €1.85M
2022: €1.77M
2023: €1.73M
2024: €1.68M
2018 → 2025
Net result
€-53k▼ 43.3%
2024 · €-37k
2018: €285k
2019: €-29k
2020: €-33k
2021: €-69k
2022: €-67k
2023: €-59k
2024: €-37k
2018 → 2025
Working capital
€-534k▼ 14.2%
2024 · €-468k
2018: €213k
2020: €-198k
2021: €-275k
2022: €-349k
2023: €-417k
2024: €-468k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€216k-€149k▼ 30.9%€91k▼ 39.3%€54k▼ 40.9%€430▼ 99.2%
Operating result€-53k-€-51k▲ 3.3%€-44k▲ 13.8%€-23k▲ 47.0%€-40k▼ 73.4%
Net result€-69k-€-67k▲ 3.9%€-59k▲ 11.9%€-37k▲ 36.8%€-53k▼ 43.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40k in 2025 against €23k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.61M
Fixed assets
€1.60M ▼ 3.1%
Current assets
€17k ▼ 39.7%
Equity and liabilities €1.61M
Equity
€430 ▼ 99.2%
Provisions
€99k ▼ 4.8%
Debt
€1.51M ▼ 0.3%
Debt's share of the balance-sheet total rises from 90.6% to 93.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17k▼
2024 · €34k
Cash flow
€4k▼
2024 · €20k
Current ratio
0.03▼
2024 · 0.06
ROA
-3.3%▼
2024 · -2.2%
Interest coverage
0.96▼
2024 · 1.80
Debt ≤ 1 year
€551k▲
2024 · €496k
Debt > 1 year
€963k▼
2024 · €1.02M
Equity ratios withheld: equity of €430 is too small for a meaningful ratio.
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.68M€1.61M▼
Fixed assets21/28€1.65M€1.60M▼
Tangible fixed assets22/27€1.65M€1.60M▼
Land and buildings22€1.65M€1.60M▼
Furniture and vehicles24€635€0▼
Current assets29/58€29k€17k▼
Amounts receivable within one year40/41€19k€4k▼
Trade receivables40€4k€127▼
Other amounts receivable41€15k€4k▼
Cash at bank and in hand54/58€10k€13k▲
Deferred charges and accrued income490/1€127€0▼
Equity and liabilities
Total equity and liabilities10/49€1.68M€1.61M▼
Equity10/15€54k€430▼
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€423k€407k▼
Non-distributable reserves130/1€27k€27k=
Legal reserve130€27k€27k=
Tax-exempt reserves132€365k€350k▼
Distributable reserves133€31k€31k=
Profit (loss) carried forward14€-431k€-470k▼
Provisions and deferred taxes16€104k€99k▼
Deferred taxes168€104k€99k▼
Amounts payable17/49€1.52M€1.51M▼
Amounts payable after more than one year17€1.02M€963k▼
Financial debts170/4€1.02M€959k▼
Other amounts payable178/9-€3k
Amounts payable within one year42/48€496k€551k▲
Current portion of amounts payable after more than one year42€62k€63k▲
Trade debts44€968€4k▲
Suppliers440/4€968€4k▲
Other amounts payable47/48€433k€485k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€57k▲
Other operating charges640/8€3k€4k▲
Gross operating margin9900€37k€21k▼
Operating profit (loss)9901€-23k€-40k▼
Financial charges65/66B€19k€18k▼
Recurring financial charges65€19k€18k▼
Profit (loss) for the period before taxes9903€-42k€-58k▼
Transfer from deferred taxes780€5k€5k=
Profit (loss) for the period9904€-37k€-53k▼
Transfer from tax-exempt reserves789€15k€15k=
Profit (loss) for the period to be appropriated9905€-22k€-38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-431k€-470k▼
Profit (loss) brought forward from the previous period14P€-409k€-431k▼
The notes to these accounts (7 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
11-08
State Gazette act
Reappointments: Louis Kemps (director) and ADDED VALUE SERVICES (director)Permanent representative: Nathalie Vanden Dries5 facts ▸
State Gazette act
Reappointments: Louis Kemps (director) and ADDED VALUE SERVICES (director)
Permanent representative: Nathalie Vanden Dries5 facts ▸
- General meeting, 22 juli 2026
- Director reappointment, Louis Kemps (director)
- Director reappointment, Louis Kemps (managing director)
- Director reappointment, ADDED VALUE SERVICES (director)
- Permanent representative, Nathalie Vanden Dries
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-69k
Net result drops to €-69k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors
ADDED VALUE SERVICES
CurrentDirector · Public limited company · perm. rep.: Nathalie Vanden Dries
KEMPS Louis Felix
CurrentManaging director
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1994
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.
Ilgatlaan 153500 HasseltGround area
1.7 ha
Building footprint
3,989 m²
Volume, LiDAR
31,169 m³
2 parcels, Flanders · tallest building 15.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
B.S.F.
since 19942.010.657.372
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24120E0116/00W000 | Flanders | 1.5 ha | 1 · 3,184 m² | 8.8 m · 2 fl. |
| 71328D0379/00Z000 | Flanders | 2,312 m² | 1 · 805 m² | 15.6 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
6 connected companiesLinked via shared directors
via KEMPS Louis Felix · Director
former→
via KEMPS Louis Felix · Director
former→
via KEMPS Louis Felix · Director
former→
via KEMPS Louis Felix · Director
former→
Show 2 more companies with a shared director
Shared corporate director
→
Shared corporate director
→
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-12-1974
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 50 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.