BELCOLOR

Active

Private limited companyfounded 201610 yrs activeHertoginnestraat 11, 1150 Sint-Pieters-Woluwe, BelgiumKBO/BCE: BE 0654.984.778

The computed 12-month bankruptcy probability of BELCOLOR is 3.2% (moderate). The 2024 annual accounts show equity of €399k and a net result of €58k. Equity is growing by ~23.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 689 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

83 / 100

Excellent▲ +2 vs 2023

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

Axes · tick = 2023

Profitability73▲+69

Solvency62▼-36

Growth78=

Stability100

Bankruptcy probability, 12 months

3.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €35k at 30 days acceptable

Liquidity tight (current ratio 1.47 against 2.28 in 2023), and 67.3% 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

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

+raises risk○neutral

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.

NBB · 9 filings

Deviation from the deadline

2025

not confirmed

2024

41 d early

2023

33 d early

2022

24 d early

2021

31 d early

2020

9 d late

2019

1 d early

← 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, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€58k▲ 1,367%

2023 · €4k

2018: €-144 2019: €59k 2020: €137k 2021: €145k 2022: €83k 2023: €4k

2018 → 2024

Working capital

€382k▼ 26.4%

2023 · €519k

2018: €-21k 2019: €161k 2020: €302k 2021: €441k 2022: €520k 2023: €519k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€312k-€457k▲ 46.3%€540k▲ 18.2%€544k▲ 0.7%€399k▼ 26.7%

Operating result€201k-€234k▲ 16.0%€135k▼ 42.4%€22k▼ 83.6%€99k▲ 347%

Net result€137k-€145k▲ 5.5%€83k▼ 42.5%€4k▼ 95.2%€58k▲ 1,367%

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 347% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.22M

98.6%

Fixed assets €17k▼ 38.0%

Current assets €1.20M▲ 29.9%

Equity and liabilities €1.22M

32.7%

67.3%

Equity €399k▼ 26.7%

Debt €820k▲ 101%

The debt ratio rises from 42.9% to 67.3%: debt grows while equity shrinks.

Key figures and ratios

2024 value · change against 2023

EBITDA

€108k▲

2023 · €29k

Cash flow

€68k▲

2023 · €11k

Solvency

32.7%▼

2023 · 57.1%

Current ratio

1.47▼

2023 · 2.28

Quick ratio

1.44▼

2023 · 2.21

Debt / equity

2.06▲

2023 · 0.75

ROE

14.5%▲

2023 · 0.7%

ROA

4.8%▲

2023 · 0.4%

Interest coverage

6.48▲

2023 · 2.65

Debt

€820k▲

2023 · €409k

Debt ≤ 1 year

€820k▲

2023 · €407k

Income taxes

€24k▲

2023 · €9k

Staff costs

€911k▼

2023 · €998k

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€953k€1.22M▲

Fixed assets21/28€27k€17k▼

Tangible fixed assets22/27€21k€17k▼

Plant, machinery and equipment23€9k€9k▲

Furniture and vehicles24€13k€8k▼

Financial fixed assets28€6k-

Current assets29/58€926k€1.20M▲

Stocks and contracts in progress3€27k€19k▼

Stocks30/36€27k€19k▼

Amounts receivable within one year40/41€688k€901k▲

Trade receivables40€596k€810k▲

Other amounts receivable41€93k€91k▼

Cash at bank and in hand54/58€196k€273k▲

Deferred charges and accrued income490/1€14k€9k▼

Equity and liabilities

Total equity and liabilities10/49€953k€1.22M▲

Equity10/15€544k€399k▼

Contributions10/11€9k€9k=

Reserves13€482k€279k▼

Non-distributable reserves130/1€266€266=

Reserves not available under the articles1311€266€266=

Distributable reserves133€482k€279k▼

Profit (loss) carried forward14€53k€111k▲

Amounts payable17/49€409k€820k▲

Amounts payable within one year42/48€407k€820k▲

Financial debts43€27k€37k▲

Credit institutions430/8€27k€37k▲

Trade debts44€346k€562k▲

Suppliers440/4€346k€562k▲

Advances received on contracts in progress46-€3k

Taxes, remuneration and social security45€33k€41k▲

Taxes450/3€3k€31k▲

Remuneration and social security454/9€29k€10k▼

Other amounts payable47/48€539€177k▲

Accrued charges and deferred income492/3€2k-

Income statement Code20232024

Remuneration, social security and pensions62€998k€911k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€10k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€6k-

Other operating charges640/8€3k€4k▲

Gross operating margin9900€1.04M€1.02M▼

Operating profit (loss)9901€22k€99k▲

Financial income75/76B€2k€103▼

Recurring financial income75€2k€103▼

Financial charges65/66B€11k€17k▲

Recurring financial charges65€11k€17k▲

Profit (loss) for the period before taxes9903€13k€82k▲

Income taxes67/77€9k€24k▲

Profit (loss) for the period9904€4k€58k▲

Profit (loss) for the period to be appropriated9905€4k€58k▲

Appropriation of the result

Profit (loss) to be appropriated9906€57k€111k▲

Profit (loss) brought forward from the previous period14P€53k€53k=

Transfer from equity791/2-€203k

Transfer to equity691/2€4k-

To other reserves6921€4k-

Profit to be distributed694/7-€203k

Return on contributions (dividend)694-€203k

Social balance

Average headcount (FTE)908719.619.8▲

The notes to these accounts (9 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 16Financial 6Gazette 1Filings 9

2026

30-06

State Gazette act Statutes amendment · Restructuring

General meeting · Merger · Accounting effect7 facts ▸

General meeting, 2026-05-11
Merger, absorption, 2026-05-11
Accounting effect, 2026-01-01
Purpose change, La société a pour objet, tant en Belgique qu'à l'étranger, pour compte propre ou pour le compte de tiers, seule ou en participation avec ceux-ci, au sens le plu…
Permanent representative, Moreau Robin
Mandate compensation, DAPHNIS INVEST
Mandate compensation, MONGE MARTINEZ Morgane

2025

20-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

28-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

07-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Equity above €500kEq €540k ▲18.2%

4 profitable years in a row build equity to €540k.

30-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

31-12

Financial Highest result since 2018net €145k ▲5.5%

Operating result €234k, net result €145k, both a record.

09-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 9 days late

2020

31-12

Financial Equity above €200kEq €312k ▲78.2%

2 profitable years in a row build equity to €312k.

30-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Back to profitnet €59k

Net result €59k after one loss-making year.

31-12

Financial Liquidity times 5current ratio 1.46

Current ratio from 0.30 to 1.46.

31-12

Financial Equity above €150kEq €175k

Equity rises from €-19k to €175k.

31-07

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

20-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

04-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2020

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

02-04-2020 MONGE CUENCA Marcos: Resigned as Manager

16-12-2019 DELFOSSE John: Resigned as Manager

30-09-2017 Carlos da Silva Correla: Resigned as Managing director

Location & real-estate footprint

Registered office, Sint-Pieters-Woluwe · 3 establishment units since 2016

establishment All 3 establishment units 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.

Hertoginnestraat 111150 Sint-Pieters-Woluwe

Ground area

1,709 m²

Building footprint

707 m²

Volume, LiDAR

5,922 m³

2 parcels, Brussels, Flanders · tallest building 19.6 m, ±4 floors. Linked by address, not a title deed.

3 establishment units

BELCOLOR

Hertoginnestraat 11, 1150 Sint-Pieters-WoluweManufacture of electrical equipment

since 20162.254.227.936

Ferdinand Kinnenstraat 29, 1950 Kraainem

Landscape service activities

since 20162.254.228.035

BELCOLOR SRL

Ferdinand Kinnenstraat 29, 1950 KraainemManufacture of electrical equipment

since 20202.301.364.392

2 parcels

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21019A0209/00W005 ProtectedMonumentHerenhuis de LannoyeSource ↗	Brussels	1,118 m²	1 · 434 m²	19.6 m · 4 fl.
22002B0114/00C007	Flanders	591 m²	1 · 273 m²	10.5 m · 2 fl.