BPH WESTERLUND HOLDINGS
ActiveThe annual accounts of BPH WESTERLUND HOLDINGS for fiscal year 2024 show a net loss of 77% of the equity at the start of that year. The 2024 annual accounts show equity of €5.36M and a net result of €-17.85M. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability18▼-5
Solvency27▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days 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 0.0 against 0.0 in 2023; short-term debt: 27.4% of total assets), and 97.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-17.85M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-06-2025, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
57 d early
2023
54 d early
2022
26 d early
2021
45 d early
2020
61 d early
2019
59 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-17.85M▼ 29.9%
2023 · €-13.74M
2018: €-6.82M
2019: €-8.17M
2020: €-10.05M
2021: €-7.22M
2022: €-8.24M
2023: €-13.74M
2018 → 2024
Working capital
€-63.99M▼ 44.5%
2023 · €-44.28M
2020: €-14.14M
2021: €-24.85M
2022: €-34.17M
2023: €-44.28M
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€52.41M-€45.19M▼ 13.8%€36.95M▼ 18.2%€23.21M▼ 37.2%€5.36M▼ 76.9%
Operating result€973k-€2.93M▲ 201%€2.71M▼ 7.8%€2.91M▲ 7.6%€4.44M▲ 52.3%
Net result€-10.05M-€-7.22M▲ 28.1%€-8.24M▼ 14.1%€-13.74M▼ 66.7%€-17.85M▼ 29.9%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 52% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €234.03M
Fixed assets
€233.86M=
Current assets
€166k▲ 404%
Equity and liabilities €234.03M
Equity
€5.36M▼ 76.9%
Debt
€228.66M▲ 8.5%
The debt ratio rises from 90.1% to 97.7%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
2.3%▼
2023 · 9.9%
Current ratio
0.00▲
2023 · 0.00
Quick ratio
0.00▲
2023 · 0.00
Debt / equity
42.64▲
2023 · 9.08
ROE
-332.8%▼
2023 · -59.2%
ROA
-7.6%▼
2023 · -5.9%
Debt
€228.66M▲
2023 · €210.68M
Debt ≤ 1 year
€64.15M▲
2023 · €44.31M
Debt > 1 year
€161.14M=
2023 · €161.14M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€233.89M€234.03M▲
Fixed assets21/28€233.86M€233.86M=
Financial fixed assets28€233.86M€233.86M=
Affiliated companies280/1€233.86M€233.86M=
Participating interests280€233.86M€233.86M=
Current assets29/58€33k€166k▲
Amounts receivable within one year40/41€33k€1k▼
Trade receivables40€33k€1k▼
Deferred charges and accrued income490/1-€165k
Equity and liabilities
Total equity and liabilities10/49€233.89M€234.03M▲
Equity10/15€23.21M€5.36M▼
Contributions10/11€190.99M€190.99M=
Capital10€190.99M€190.99M=
Issued capital100€190.99M€190.99M=
Profit (loss) carried forward14€-167.77M€-185.62M▼
Amounts payable17/49€210.68M€228.66M▲
Amounts payable after more than one year17€161.14M€161.14M=
Financial debts170/4€161.14M€161.14M=
Other loans174€161.14M€161.14M=
Amounts payable within one year42/48€44.31M€64.15M▲
Financial debts43€44.31M€61.16M▲
Other loans439€44.31M€61.16M▲
Trade debts44€3k€3.00M▲
Suppliers440/4€3k€3.00M▲
Accrued charges and deferred income492/3€5.23M€3.37M▼
Income statement
Code20232024
Operating income70/76A€2.92M€4.45M▲
Non-recurring operating income76A€2.92M€4.45M▲
Operating charges60/66A€11k€11k▼
Services and other goods61€6k€9k▲
Other operating charges640/8€5k€1k▼
Operating profit (loss)9901€2.91M€4.44M▲
Financial income75/76B-€165k
Recurring financial income75-€165k
Income from current assets751-€165k
Other financial income752/9-€201
Financial charges65/66B€16.65M€22.45M▲
Recurring financial charges65€16.65M€22.45M▲
Debt charges650€16.65M€19.45M▲
Other financial charges652/9€693€3.00M▲
Profit (loss) for the period before taxes9903€-13.74M€-17.85M▼
Profit (loss) for the period9904€-13.74M€-17.85M▼
Profit (loss) for the period to be appropriated9905€-13.74M€-17.85M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-167.77M€-185.62M▼
Profit (loss) brought forward from the previous period14P€-154.04M€-167.77M▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-17.85M
Net result drops to €-17.85M, the lowest in the series.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €50MEq €52.41M
Equity rises from €-11.54M to €52.41M.
23-10
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
14-10
State Gazette act
General meeting · Capital increase
Capital · Corporate purpose · Johan Kiebooms
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
16-06
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 2 days late
2016
10-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
34 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, Beveren-Kruibeke-Zwijndrecht · 2 establishment units since 2007
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.
Land van Waaslaan(KAL) 59130 Beveren-Kruibeke-ZwijndrechtGround area
20.1 ha
Building footprint
1.7 ha
Volume, LiDAR
171,705 m³
2 parcels, Flanders · tallest building 19.0 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
BPH Westerlund Holdings
since 20072.166.657.722
BPH Westerlund Holdings
since 20242.353.989.070
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G1681/05D000 | Flanders | 10.1 ha | 1 · 1.7 ha | 19.0 m · 3 fl. |
| 46010D0228/00D000 | Flanders | 10.0 ha | 1 · 505 m² | 9.1 m · 2 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
Ownership & control
1 partyBPH WESTERLUND HOLDINGSBE 0893.224.104
controls
Where this company holds controlthis company sits on their board1
6 subsidiaries · 6 locations
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-11-2007
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.