BELCAT

Active

Private limited companyfounded 20233 yrs activeMuidepoort 124/A, 9000 Gent, BelgiumKBO/BCE: BE 0803.182.368

The computed 12-month bankruptcy probability of BELCAT is 2.0% (moderate). The 2024 annual accounts show equity of €60k and a net result of €27k. Its solvency ranks better than 72% of 1329 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

93 / 100

Excellent= vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency100=

Growth52

Stability94

Bankruptcy probability, 12 months

2.0% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €6k at 30 days acceptable

Liquidity ample (current ratio 2.85 against 4.61 in 2023), and 35.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 42

Relative position

BE, all sectors

reference

Sector 42

higher

← fewer bankruptcies more bankruptcies →

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-01-2026, 182 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 2 filings

Deviation from the deadline

2025

not confirmed

2024

182 d late

2023

547 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€60k▲ 83.5%

2023 · €33k

2023: €33k

2023 → 2024

Total assets

€93k▲ 123%

2023 · €42k

2023: €42k

2023 → 2024

Net result

€27k▼ 13.9%

2023 · €32k

2023: €32k

2023 → 2024

Working capital

€60k▲ 87.9%

2023 · €32k

2023: €32k

2023 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20232024Trend

Equity€33k-€60k▲ 83.5%

Operating result€40k-€33k▼ 16.3%

Net result€32k-€27k▼ 13.9%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 16% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €93k

99.8%

Fixed assets €156▼ 39.6%

Current assets €93k▲ 127%

Equity and liabilities €93k

64.9%

35.1%

Equity €60k▲ 83.5%

Debt €33k▲ 268%

The debt ratio rises from 21.2% to 35.1%: debt grows faster than equity.

Key figures and ratios

2024 value · change against 2023

EBITDA

€34k▼

2023 · €41k

Cash flow

€28k▼

2023 · €33k

Solvency

64.9%▼

2023 · 78.8%

Current ratio

2.85▼

2023 · 4.61

Quick ratio

2.85▼

2023 · 4.61

Debt / equity

0.54▲

2023 · 0.27

ROE

45.5%▼

2023 · 97.0%

ROA

29.5%▼

2023 · 76.4%

Interest coverage

49.11▼

2023 · 626.56

Debt

€33k▲

2023 · €9k

Debt ≤ 1 year

€33k▲

2023 · €9k

Income taxes

€5k▼

2023 · €8k

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€42k€93k▲

Formation expenses20€593€0▼

Fixed assets21/28€259€156▼

Tangible fixed assets22/27€259€156▼

Plant, machinery and equipment23€259€156▼

Current assets29/58€41k€93k▲

Amounts receivable after more than one year29€23k€50k▲

Other amounts receivable291€23k€50k▲

Amounts receivable within one year40/41€16k€43k▲

Trade receivables40€9k€31k▲

Other amounts receivable41€7k€12k▲

Cash at bank and in hand54/58€2k€14▼

Deferred charges and accrued income490/1-€136

Equity and liabilities

Total equity and liabilities10/49€42k€93k▲

Equity10/15€33k€60k▲

Contributions10/11€1k€1k=

Reserves13€32k€59k▲

Distributable reserves133€32k€59k▲

Amounts payable17/49€9k€33k▲

Amounts payable within one year42/48€9k€33k▲

Trade debts44€898€9k▲

Suppliers440/4€898€9k▲

Taxes, remuneration and social security45€8k€24k▲

Taxes450/3€8k€24k▲

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€737€696▼

Other operating charges640/8€50€156▲

Gross operating margin9900€41k€34k▼

Operating profit (loss)9901€40k€33k▼

Financial income75/76B€0-

Recurring financial income75€0-

Financial charges65/66B€65€693▲

Recurring financial charges65€65€693▲

Profit (loss) for the period before taxes9903€40k€33k▼

Income taxes67/77€8k€5k▼

Profit (loss) for the period9904€32k€27k▼

Profit (loss) for the period to be appropriated9905€32k€27k▼

Appropriation of the result

Profit (loss) to be appropriated9906€32k€27k▼

Transfer to equity691/2€32k€27k▼

To other reserves6921€32k€27k▼

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 2Filings 2

2026

29-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 182 days late

29-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 547 days late

NBB filing

Directors · office · real estate

Directors

2 directors, no change since 2025

Huseyin Kurutepe

Director · since 21-05-2025

Current

21-05-2025 Huseyin Kurutepe: Appointed as Director

31-12-2024 Sahin Keziban: Resigned as Director

Location & real-estate footprint

Registered office, Gent · 1 establishment unit since 2023

establishment The establishment unit on the map

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.

Muidepoort 124/A9000 Gent

Ground area

149 m²

Building footprint

149 m²

Volume, LiDAR

1,078 m³

Parcel 44021A3263/00P000, Flanders · tallest building 13.1 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

BELCAT

Muidepoort 124 A, 9000 GentConstruction of roads and motorways

since 20232.347.624.385

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44021A3263/00P000	Flanders	148 m²	1 · 148 m²	13.1 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

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

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

Recognitions · licences · registrations

Recognised contractor

7 categories

BELCAT BV46358

category B, class 1 · category B1, class 1 · category C1, class 1 · category C2, class 1 · category C3, class 1 · category G1, class 1 · category S1, class 1

decision 29-06-2026