BIVOAK
ActiveSummary
BIVOAK has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €82k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 23% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency40▼-7
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.27 in 2024; short-term debt: 85% and cash: 89.9% of total assets), and 85.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
14.8%
Return on assets
58.9%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 7780 sector peers (2025).
NBB · sector comparisonPosition among 7780 sector peers
Solvency
better than 23%
← 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 31-03-2026, 122 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
122 d early
2024
21 d early
2023
34 d early
2022
40 d early
2021
53 d early
2020
40 d early
2019
22 d early
← 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
Equity
€21k▼ 18.6%
2024 · €25k
2018: €40k
2019: €41k▲ +0.9% vs 2018
2020: €41k▲ +1.1% vs 2019
2021: €48k▲ +16.1% vs 2020
2022: €48k▲ +0.1% vs 2021
2023: €48k▲ +0.7% vs 2022highest in 8 years
2024: €25k▼ -47.4% vs 2023
2025: €21k▼ -18.6% vs 2024lowest in 8 years
2018 → 2025
Total assets
€140k▲ 19.7%
2024 · €117k
2018: €75klowest in 8 years
2019: €81k▲ +8.0% vs 2018
2020: €93k▲ +14.9% vs 2019
2021: €88k▼ -5.1% vs 2020
2022: €84k▼ -4.2% vs 2021
2023: €97k▲ +15.0% vs 2022
2024: €117k▲ +20.4% vs 2023
2025: €140k▲ +19.7% vs 2024highest in 8 years
2018 → 2025
Net result
€82k▲ 66.9%
2024 · €49k
2018: €204lowest in 8 years
2019: €18k▲ +8903% vs 2018
2020: €25k▲ +36.8% vs 2019
2021: €22k▼ -14.1% vs 2020
2022: €14k▼ -34.5% vs 2021
2023: €23k▲ +64.6% vs 2022
2024: €49k▲ +112% vs 2023
2025: €82k▲ +66.9% vs 2024highest in 8 years
2018 → 2025
Working capital
€21k▼ 16.4%
2024 · €25k
2018: €51khighest in 8 years
2019: €45k▼ -12.7% vs 2018
2020: €39k▼ -13.7% vs 2019
2021: €46k▲ +18.0% vs 2020
2022: €47k▲ +2.2% vs 2021
2023: €48k▲ +1.9% vs 2022
2024: €25k▼ -47.4% vs 2023
2025: €21k▼ -16.4% 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
Equity€48k-€48k▲ 0.1%€48k▲ 0.7%€25k▼ 47.4%€21k▼ 18.6%
2021: €48k
2022: €48k▲ +0.1% vs 2021
2023: €48k▲ +0.7% vs 2022highest in 5 years
2024: €25k▼ -47.4% vs 2023
2025: €21k▼ -18.6% vs 2024lowest in 5 years
Operating result€29k-€21k▼ 29.8%€31k▲ 51.5%€64k▲ 105%€109k▲ 69.1%
2021: €29k
2022: €21k▼ -29.8% vs 2021lowest in 5 years
2023: €31k▲ +51.5% vs 2022
2024: €64k▲ +105% vs 2023
2025: €109k▲ +69.1% vs 2024highest in 5 years
Net result€22k-€14k▼ 34.5%€23k▲ 64.6%€49k▲ 112%€82k▲ 66.9%
2021: €22k
2022: €14k▼ -34.5% vs 2021lowest in 5 years
2023: €23k▲ +64.6% vs 2022
2024: €49k▲ +112% vs 2023
2025: €82k▲ +66.9% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 69% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€79 ▼ 80.2%
Current assets
€140k ▲ 20.1%
Equity and liabilities €140k
Equity
€21k ▼ 18.6%
Debt
€119k ▲ 30.4%
Debt's share of the balance-sheet total rises from 78.2% to 85.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€109k▲
2024 · €65k
Cash flow
€83k▲
2024 · €50k
Current ratio
1.18▼
2024 · 1.27
Debt to equity
5.77▲
2024 · 3.60
ROE
398.3%▲
2024 · 194.2%
ROA
58.9%▲
2024 · 42.2%
Interest coverage
507.82▲
2024 · 319.68
Debt ≤ 1 year
€119k▲
2024 · €91k
Income taxes
€26k▲
2024 · €15k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€117k€140k▲
Fixed assets21/28€399€79▼
Tangible fixed assets22/27€320-
Other tangible fixed assets26€320-
Financial fixed assets28€79€79=
Current assets29/58€116k€140k▲
Amounts receivable within one year40/41€6k€11k▲
Trade receivables40€6k€11k▲
Cash at bank and in hand54/58€104k€126k▲
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€117k€140k▲
Equity10/15€25k€21k▼
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€5k€207▼
Amounts payable17/49€91k€119k▲
Amounts payable within one year42/48€91k€119k▲
Trade debts44€5k€6k▲
Suppliers440/4€5k€6k▲
Taxes, remuneration and social security45€18k€32k▲
Taxes450/3€18k€30k▲
Remuneration and social security454/9-€2k
Other amounts payable47/48€69k€81k▲
Accrued charges and deferred income492/3€44€338▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€326€320▼
Other operating charges640/8€943€884▼
Gross operating margin9900€65k€110k▲
Operating profit (loss)9901€64k€109k▲
Financial charges65/66B€202€214▲
Recurring financial charges65€202€214▲
Profit (loss) for the period before taxes9903€64k€108k▲
Income taxes67/77€15k€26k▲
Profit (loss) for the period9904€49k€82k▲
Profit (loss) for the period to be appropriated9905€49k€82k▲
Appropriation of the result
Profit (loss) to be appropriated9906€53k€87k▲
Profit (loss) brought forward from the previous period14P€4k€5k▲
Transfer from equity791/2€24k-
Profit to be distributed694/7€72k€87k▲
Return on contributions (dividend)694€72k€87k▲
The notes to these accounts (4 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €967 | €546 | €326 | €320 | ▼ 1.9% |
| Other operating charges640/8 | €970 | €794 | €870 | €943 | €884 | ▼ 6.2% |
| Gross operating margin9900 | €32k | €22k | €33k | €65k | €110k | ▲ 67.6% |
| Operating profit (loss)9901 | €29k | €21k | €31k | €64k | €109k | ▲ 69.1% |
| Financial income75/76B | €65 | - | - | - | - | - |
| Recurring financial income75 | €65 | - | - | - | - | - |
| Financial charges65/66B | €219 | €106 | €171 | €202 | €214 | ▲ 6.2% |
| Recurring financial charges65 | €219 | €106 | €171 | €202 | €214 | ▲ 6.2% |
| Profit (loss) for the period before taxes9903 | €29k | €21k | €31k | €64k | €108k | ▲ 69.3% |
| Income taxes67/77 | €8k | €6k | €8k | €15k | €26k | ▲ 77.2% |
| Profit (loss) for the period9904 | €22k | €14k | €23k | €49k | €82k | ▲ 66.9% |
| Profit (loss) for the period to be appropriated9905 | €22k | €14k | €23k | €49k | €82k | ▲ 66.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €88k | €84k | €97k | €117k | €140k | ▲ 19.7% |
| Fixed assets21/28 | €2k | €1k | €724 | €399 | €79 | ▼ 80.2% |
| Tangible fixed assets22/27 | €2k | €1k | €645 | €320 | - | - |
| Furniture and vehicles24 | €502 | €220 | - | - | - | - |
| Other tangible fixed assets26 | €2k | €971 | €645 | €320 | - | - |
| Financial fixed assets28 | €79 | €79 | €79 | €79 | €79 | = |
| Current assets29/58 | €86k | €83k | €96k | €116k | €140k | ▲ 20.1% |
| Amounts receivable within one year40/41 | €12k | €15k | €6k | €6k | €11k | ▲ 90.7% |
| Trade receivables40 | €12k | €15k | €6k | €6k | €11k | ▲ 90.7% |
| Other amounts receivable41 | - | - | €166 | - | - | - |
| Cash at bank and in hand54/58 | €72k | €64k | €84k | €104k | €126k | ▲ 20.8% |
| Deferred charges and accrued income490/1 | €2k | €4k | €6k | €7k | €3k | ▼ 51.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €88k | €84k | €97k | €117k | €140k | ▲ 19.7% |
| Equity10/15 | €48k | €48k | €48k | €25k | €21k | ▼ 18.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | €19k | €19k | = |
| Issued capital100 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €26k | €26k | €26k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €24k | €24k | €24k | - | - | - |
| Profit (loss) carried forward14 | €3k | €4k | €4k | €5k | €207 | ▼ 95.8% |
| Amounts payable17/49 | €40k | €36k | €49k | €91k | €119k | ▲ 30.4% |
| Amounts payable within one year42/48 | €40k | €36k | €49k | €91k | €119k | ▲ 30.1% |
| Trade debts44 | €743 | €4k | €6k | €5k | €6k | ▲ 19.9% |
| Suppliers440/4 | €743 | €4k | €6k | €5k | €6k | ▲ 19.9% |
| Taxes, remuneration and social security45 | €19k | €18k | €21k | €18k | €32k | ▲ 80.1% |
| Taxes450/3 | €19k | €18k | €17k | €18k | €30k | ▲ 66.6% |
| Remuneration and social security454/9 | - | €508 | €5k | - | €2k | - |
| Other amounts payable47/48 | €20k | €14k | €22k | €69k | €81k | ▲ 17.9% |
| Accrued charges and deferred income492/3 | - | - | - | €44 | €338 | ▲ 667% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €14k | €23k | €49k | €82k | ▲ 66.9% |
| + Depreciation and write-downs630 | €1k | €967 | €546 | €326 | €320 | ▼ 1.9% |
| Operating cash flow (approximation) | €23k | €15k | €24k | €50k | €83k | ▲ 66.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-8k | €20k | €20k | €22k | ▲ 6.1% |
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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €82k ▲66.9%
Operating result €109k, net result €82k, both a record.
14-10
State Gazette act
Board meeting · Power of attorney
General meeting · Director resignation
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waterloo · 1 establishment unit since 2014
Ground area
2,092 m²
Building footprint
147 m²
Volume, LiDAR
1,535 m³
Parcel 25763K0090/00A000, Wallonia · tallest building 19.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Belle Vue 25, 1410 Waterloo
since 20142.235.186.638
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763K0090/00A000 | Wallonia | 2,092 m² | 1 · 147 m² | 19.9 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
2 connected companiesLinked via shared directors
Shared director
→
Shared director
→
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 24,497 companies in sector 82990 we hold annual accounts for 9,406. 5,848 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 (pre-2019)
Founded17-07-2014
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
46190Agents in non-specialised wholesale trade
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
70200Business and other management consultancy
85599Other education
Contact
Phone
0495 51 04 49Waterloo
Scores and ratios are computed by Checked and are not a credit decision.