Belcor
ActiveSummary
Belcor has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26,824 and a net result of -€1,621. Equity is shrinking by about 4.8% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1,621▼ 9.4%
2024 · -€1,482
Working capital
-€13,740▼ 13.4%
2024 · -€12,119
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €1,576 in 2025 against €1,437 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€1,576
2025
Net result-€1,621
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€41,518
2025
Equity€26,824
2025
Debt€14,694
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€13,740
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,517--€1,297▲ 14.5%-€705▲ 45.6%-€956▼ 35.6%-€1,343▼ 40.4%-€2,985▼ 122%-€1,437▲ 51.8%-€1,576▼ 9.7%
Net result-€2,347--€1,525▲ 35.0%-€936▲ 38.6%-€1,190▼ 27.2%-€1,577▼ 32.5%-€3,125▼ 98.2%-€1,482▲ 52.6%-€1,621▼ 9.4%
Equity€38,279-€36,754▼ 4.0%€35,819▼ 2.5%€34,629▼ 3.3%€33,052▼ 4.6%€29,928▼ 9.5%€28,446▼ 5.0%€26,824▼ 5.7%
Total assets€41,653-€41,528▼ 0.3%€41,792▲ 0.6%€41,603▼ 0.5%€41,826▲ 0.5%€41,622▼ 0.5%€41,489▼ 0.3%€41,518▲ 0.1%
Debt€3,374-€4,774▲ 41.5%€5,974▲ 25.1%€6,974▲ 16.7%€8,774▲ 25.8%€11,694▲ 33.3%€13,044▲ 11.5%€14,694▲ 12.6%
Working capital-€2,285--€3,810▼ 66.7%-€4,746▼ 24.6%-€5,936▼ 25.1%-€7,512▼ 26.6%-€10,637▼ 41.6%-€12,119▼ 13.9%-€13,740▼ 13.4%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41,518
Fixed assets
€40,565 =
Current assets
€953 ▲ 3.1%
Equity and liabilities €41,518
Equity
€26,824 ▼ 5.7%
Debt
€14,694 ▲ 12.6%
Debt's share of the balance-sheet total rises from 31.4% to 35.4%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.06▼
2024 · 0.07
Debt to equity
0.55▲
2024 · 0.46
ROE
-6.0%▼
2024 · -5.2%
ROA
-3.9%▼
2024 · -3.6%
Debt ≤ 1 year
€14,694▲
2024 · €13,044
Income taxes
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €153 | €160 | €411 | €185 | €189 | ▲ 2.3% |
| Gross operating margin9900 | -€979 | -€797 | -€535 | -€803 | -€1,183 | -€2,574 | -€1,252 | -€1,387 | ▼ 10.8% |
| Operating profit (loss)9901 | -€1,517 | -€1,297 | -€705 | -€956 | -€1,343 | -€2,985 | -€1,437 | -€1,576 | ▼ 9.7% |
| Financial income75/76B | - | - | - | - | - | - | €0 | €0 | ▲ 200% |
| Recurring financial income75 | €0 | - | - | - | - | - | €0 | €0 | ▲ 200% |
| Financial charges65/66B | - | - | - | €234 | €234 | €140 | €45 | €45 | = |
| Recurring financial charges65 | €830 | €228 | €231 | €234 | €234 | €140 | €45 | €45 | = |
| Profit (loss) for the period before taxes9903 | -€2,347 | -€1,525 | -€936 | -€1,190 | -€1,577 | -€3,125 | -€1,482 | -€1,621 | ▼ 9.4% |
| Income taxes67/77 | - | - | - | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | -€2,347 | -€1,525 | -€936 | -€1,190 | -€1,577 | -€3,125 | -€1,482 | -€1,621 | ▼ 9.4% |
| Profit (loss) for the period to be appropriated9905 | -€2,347 | -€1,525 | -€936 | -€1,190 | -€1,577 | -€3,125 | -€1,482 | -€1,621 | ▼ 9.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €41,653 | €41,528 | €41,792 | €41,603 | €41,826 | €41,622 | €41,489 | €41,518 | ▲ 0.1% |
| Fixed assets21/28 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | = |
| Financial fixed assets28 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | €40,565 | = |
| Current assets29/58 | €1,088 | €963 | €1,228 | €1,038 | €1,261 | €1,057 | €925 | €953 | ▲ 3.1% |
| Cash at bank and in hand54/58 | €1,088 | €963 | €1,228 | €1,038 | €1,261 | €1,057 | €925 | €953 | ▲ 3.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €41,653 | €41,528 | €41,792 | €41,603 | €41,826 | €41,622 | €41,489 | €41,518 | ▲ 0.1% |
| Equity10/15 | €38,279 | €36,754 | €35,819 | €34,629 | €33,052 | €29,928 | €28,446 | €26,824 | ▼ 5.7% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €905 | €905 | €905 | €905 | €905 | €905 | €905 | €905 | = |
| Non-distributable reserves130/1 | - | - | - | €905 | €905 | €905 | €905 | €905 | = |
| Legal reserve130 | - | - | - | €905 | €905 | €905 | €905 | €905 | = |
| Profit (loss) carried forward14 | -€24,599 | -€26,124 | -€27,060 | -€28,250 | -€29,826 | -€32,951 | -€34,433 | -€36,054 | ▼ 4.7% |
| Amounts payable17/49 | €3,374 | €4,774 | €5,974 | €6,974 | €8,774 | €11,694 | €13,044 | €14,694 | ▲ 12.6% |
| Amounts payable within one year42/48 | €3,374 | €4,774 | €5,974 | €6,974 | €8,774 | €11,694 | €13,044 | €14,694 | ▲ 12.6% |
| Other amounts payable47/48 | - | - | - | €6,974 | €8,774 | €11,694 | €13,044 | €14,694 | ▲ 12.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,347 | -€1,525 | -€936 | -€1,190 | -€1,577 | -€3,125 | -€1,482 | -€1,621 | ▼ 9.4% |
| Operating cash flow (approximation) | -€2,347 | -€1,525 | -€936 | -€1,190 | -€1,577 | -€3,125 | -€1,482 | -€1,621 | ▼ 9.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€125 | €264 | -€190 | €223 | -€205 | -€132 | €29 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-06-2026 | 2026-00163138 |
| 31-12-2024 | full format | 24-06-2025 | 2025-00172290 |
| 31-12-2023 | full format | 06-06-2024 | 2024-00119653 |
| 31-12-2022 | full format | 30-05-2023 | 2023-00097329 |
| 31-12-2021 | full format | 08-06-2022 | 2022-20049163 |
| 31-12-2020 | full format | 14-06-2021 | 2021-19500454 |
| 31-12-2019 | full format | 01-07-2020 | 2020-24200022 |
| 31-12-2018 | full format | 23-07-2019 | 2019-36300436 |
| 31-12-2017 | full format | 13-07-2018 | 2018-32600176 |
| 31-12-2016 | full format | 29-06-2017 | 2017-23500284 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.