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BELCORTEX

Active Private limited companyfounded 2013active for 13 yearsRue de l'Eglise 1, 1435 Mont-Saint-GuibertKBO/BCE: BE 0536.895.691

Overview

Lifetime

12 annual accounts with figures on one time axis
peak €857,595 (2021)
€269,278▼ 52.8%
lowest -€1.2m (2025)
-€1.2m▼ €1.6m
peak €2.9m (2022)
-€638,331▼ €1.2m
€4.3m▼ 15.3%
Board1 name since 2021
1 directorBIRDNEST
Documentsfilings and deeds
24-09-202655 days late
2025abbreviated format
Gross margin from €570,596 to €269,278Loss of €1.2mEquity from €520,872 to -€638,331Debts from €5.0m to €4.3mCash from €214,518 to €120,380

Key points

from the 2025 annual accounts

Equity

-€638,331
202020212022202320242025

Debts exceed assets in financial year 2025.

Result

-€1.2m -€1.2m
€427,0002024-€1.2m2025

From profit to loss in 2025, after a profit of €427,165 in 2024.

Debts

€4.3m 118% of the balance sheet
Financial debts 16%Taxes and wages 0%Other 84%

Of this, €1.0m falls due within a year.

Liquidity

1.79 was 0.94 in 2024

Short-term debts fell from €1.4m to €1.0m.

Filings

12 annual accounts since 2014
AprilJune31 JulyOctober201520202025

Five of the last ten came late. The 2024 accounts came latest: 71 days after the end of the period.

Position in the sector

-17.5%

Lower solvency than 95% of companies in financial services. Sector median 50.8% · 6,708 companies.

Financial institution: outside the modelBankruptcy probability: sector outside the model

Checked score

Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.

Bankruptcy probability within 12 months

The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Two signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 6708 sector peers (2025).
NBB · sector comparison
Position among 6708 sector peers
Solvency
better than 5%
← weakest strongest →
raises risk · 2025 accounts filed 55 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
55 days late
2024
71 days late
2023
61 days late
2022
67 days late
2021
31 days early
2020
2 days early
2019
7 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 31 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 October (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

B
Director, Olivier BURNIAUX

Shares in 1 company, BIRDNEST

Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0536895691
Change of role: BIRDNEST, from manager to director Permanent representative: Olivier BURNIAUX · General meeting of 26-02-2021 · Gazette deed
Incorporation published on 02-08-2013 · Gazette deed
First establishment Rue de l'Eglise 1, Mont-Saint-Guibert
All 22 events

Comparable companies

same main activity, similar in size and age
Company
BELCORTEX Mont-Saint-Guibert €3.6m €269,278 -17.5% -
JCV IMMO Braine-l'Alleud €3.0m €262,253 29.4% -
KEMPEN PHARMA Wuustwezel €3.6m €259,794 75.3% -
ELGEAL Auderghem €3.4m €242,140 11.0% -
GROEP VANGHELUWE Izegem €4.0m €240,934 89.1% -
TOM VAN den ABBEELE Opwijk €3.6m €276,522 58.8% -
Viv@ Boechout €3.4m €271,582 75.2% -

These companies have the same main activity as BELCORTEX: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €3m and €4m, founded between 2013 and 2014.

Official details

Source: KBO
Status
Active since 24-07-2013Normal situation
Activity
Activities of holding companiesNACE 64210and 2 others
Establishment unit
2.221.633.0651435 Mont-Saint-Guibert, since 05-07-2013
Financial year end
31 December
Peppol
Reachable since 03-12-2025
Company details

Annual accounts 2025

€1.2m
-€638,331
€3.6m▼ 34.6%
Filing
Filed on 24-09-2026
Financials

Insights on BELCORTEX

BELCORTEX files the abbreviated format. That format states no turnover. The gross margin rose from -€3,322 in 2014 to €269,278 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 24-09-2026, 55 days late
-€638,331
▼ €1.2m
€3.6m
▼ 34.6%
-€1.2m
▼ €1.6m
-17.5%
▼ 26.9 percentage points
-
-31.8%
▼ 39.5 percentage points

The turnover shown is an estimate from the gross margin.

Balance sheet

balance sheet total €3.6m on 31-12-2025
What the company ownsHow it is paid for

in €m

in euro

Position in the sector

-17.5%

Lower than 95% of 6,708 companies in 2025.

-31.8%

Lower than 95% of 6,673 companies in 2025.

BELCORTEX Middle half of the sector 80% of the sector Abbreviated accounts in financial services (NACE 64)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020201920182017201620152014
Balance sheet: assets
20/58 3.6m5.6m5.9m5.9m5.5m5.1m4.7m4.2m4.5m4.5m3.4m2.6m
21/28 1.8m4.2m4.2m4.2m4.0m4.0m3.9m3.4m3.4m3.5m3.2m2.5m
22/27 84,981129,364173,916194,6662,5836,7404,922-661,221682,485702,669-
22 --------657,449675,799694,150-
23 --------1,5744,5045,465-
24 84,981129,364173,916194,6662,5836,7404,922-2,1982,1823,054-
28 1.7m4.1m4.1m4.0m4.0m4.0m3.9m3.4m2.8m2.8m2.5m2.5m
29/58 1.9m1.3m1.6m1.6m1.5m1.1m756,570752,6971.0m1.0m249,511134,674
3 70043,03243,15744,321--------
30/36 70043,03243,15744,321--------
40/41 1.5m761,094911,834939,240809,281740,421581,637193,383397,277304,817143,18381,324
40 90,944226,679225,544271,377181,250339,370137,314101,494163,82826,30446,79975,000
41 1.4m534,415686,290667,863628,030401,051444,32391,889233,450278,51396,3846,324
50/53 232,854312,284610,59439,46339,46339,46339,452429,264505,998---
54/58 120,380214,51874,530586,706586,708324,074106,07452,034135,537712,946106,32153,350
490/1 7,8334,9556,046-25,55734,12129,40778,016367-7-
Balance sheet: equity and liabilities
10/49 3.6m5.6m5.9m5.9m5.5m5.1m4.7m4.2m4.5m4.5m3.4m2.6m
10/15 -638,331520,87293,7062.9m2.3m1.5m1.1m244,610-101,391-127,270-136,352-13,529
10/11 33,00033,00033,00033,00033,000-30,00030,00030,00030,00030,00012,400
100 ------30,00030,00030,00030,00030,00030,000
101 -----------17,600
11 -----33,000------
1100/10 -----33,000------
13 ------3,0003,000----
130 ------3,0003,000----
14 -671,331487,87260,7062.8m2.3m1.5m1.0m211,610-131,391-157,270-166,352-25,929
17/49 4.3m5.0m5.8m3.0m3.2m3.6m3.6m3.9m4.6m4.6m3.6m2.6m
17 3.2m3.6m1.6m2.0m1.6m2.1m--648,725710,000710,000-
170/4 217,152607,780993,6881.4m1.6m2.1m--648,725710,000710,000-
178/9 3.0m3.0m600,000600,000--------
42/48 1.0m1.4m4.2m996,6371.6m1.5m3.6m3.9m3.9m3.9m2.8m2.6m
42 531,700526,304520,698511,693506,807332,166------
43 487,500487,500----------
430/8 487,500487,500----------
44 -540--42036,18018,9538421,71722,0812,9641,750
440/4 -540--42036,18018,9538421,71722,0812,9641,750
45 299813-60,12087,435106,9008,757---
450/3 299813-60,12087,435106,9008,757---
47/48 27,382408,8553.7m484,9321.1m1.1m3.5m3.8m3.9m3.9m2.8m2.6m
492/3 1,8484,45312,8004,52634,7556,37036,1009916,4111,2707,448-
Income statement
76A -------5,977----
9900 269,278570,596589,905589,644857,595632,452525,926312,769131,17276,94239,495-3,322
630 44,38344,55243,4283,6044,1573,0551,656-22,59622,151111,960-
631/4 --------19,217---
640/8 1,0821,0481,3828689308688687,7814,2224,203780-
66A ------5183,6556,200---
9901 223,813524,997545,095585,172852,508628,530522,884301,33385,13750,587-73,245-3,322
75/76B 114,34264,805108,076181,357151,87047,024497,710318,3156,3693,9944,490132
75 114,34264,805108,076181,357151,87047,024497,710312,1156,3693,9944,490132
76B -------6,200----
65/66B 1.4m26,01424,55421,39336,39421,72134,662171,30656,60945,50071,66822,737
65 33,05126,01424,55421,39336,39421,72134,662152,73350,40945,50071,66822,737
66B 1.4m------18,5736,200---
9903 -1.1m563,788628,617745,136967,984653,834985,932448,34234,8979,082-140,423-25,927
67/77 59,910136,622132,916150,954215,500190,553162,484102,3419,018--2
9904 -1.2m427,165495,701594,182752,484463,281823,448346,00125,8799,082-140,423-25,929
9905 -1.2m427,165495,701594,182752,484463,281823,448346,00125,8799,082-140,423-25,929
Appropriation of the result
9906 -671,331487,8723.3m2.8m2.3m1.5m1.0m214,610-131,391-157,270-166,352-25,929
14P 487,87260,7062.8m2.3m1.5m-------
691/2 -------3,000----
6920 -------3,000----
694/7 --3.3m---------
694 --3.3m---------
695 --30,000---------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 24-09-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 55 days after the deadline. Filed on 24 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00525034.

Financial year Type Filed Reference Document
31-12-2025 abbreviated format 24-09-2026 2026-00525034 PDF
31-12-2024 full format 10-10-2025 2025-00542262 PDF
31-12-2023 full format 30-09-2024 2024-00489699 PDF
31-12-2022 full format 06-10-2023 2023-00480905 PDF
31-12-2021 full format 30-06-2022 2022-20128939 PDF
30-06-2020 full format 29-01-2021 2021-03600520 PDF
30-06-2019 full format 24-01-2020 2020-02100124 PDF
30-06-2018 full format 15-01-2019 2019-01600090 PDF
30-06-2017 full format 26-01-2018 2018-02600061 PDF
30-06-2016 full format 01-02-2017 2017-03700287 PDF
30-06-2015 full format 15-01-2016 2016-01800429 PDF
30-06-2014 full format 29-01-2015 2015-03400034 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020201920182017201620152014
-2.4m35,40341,127219,89649,74645,519506,990712,6421,332328,595821,1652.5m
-94,138139,988-512,176-2262,634218,00154,039-83,503-577,409606,62552,971-
-17.5%9.4%1.6%49.2%41.6%29.9%22.7%5.8%-2.3%-2.8%-4.0%-0.5%
-82.0%529.0%20.6%32.9%30.3%77.1%141.5%----
-31.8%7.7%8.4%10.1%13.7%9.0%17.5%8.3%0.6%0.2%-4.1%-1.0%

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets--€22,678€195,687-
Financial fixed assets-€35,403€18,449€24,209€49,746
€44,383€44,552€43,428€3,604€4,157

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on BELCORTEX

The operating result for 2025 is 57% lower than in 2024 and the lowest since 2017. It is the fourth fall in a row.

Equity is negative. Debt (€4.3m) exceeds the balance-sheet total (€3.6m).

Large changes and their cause
  • 2021 Net result +62% on 2020. This financial year ran 18 months, the previous one 12.

Board & ownership

Board

1 director, last change in 2021
Director (not named in the articles), permanent representative Olivier BURNIAUX
appointed by deed of 04-03-2021 term without a fixed end
earlier manager, until 04-03-2021
listed in the 2025 annual accounts, filed on 24-09-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 12. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
deed of 04-03-2021
Permanent representatives 1
Olivier BURNIAUX
Permanent representative, for BIRDNEST
appointed by deed of 04-03-2021

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
BIRDNEST
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • BIRDNEST
    • Director (not named in the articles), appointed by deed of 04-03-2021, still in office
    • Manager, until 04-03-2021

See the board, name and registered office on a given date →

Control

Capital

Contribution
€33,000
Shares
100
Contribution per share
€330
Equity per share
-€6,383 in 2025
Source
2025 annual accounts

Articles of association

deed of 04-03-2021 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Moitié cédant, moitié acquéreur(s) proportionnellement actions acquises, cessions entre vifs à titre onéreux ou gratuit, volontaires ou…”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of June at 17:00

Network & group

Holdings

own 2025 accounts
This companyBELCORTEX1 holding, 1 country 2025 accounts

Belgium 1 Equity Result

  • BE BIRDNEST48.75% -€144,485 result -€28,686

Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.

At the same address

Rue de l'Eglise 1, 1435 Mont-Saint-Guibert · 1 other company
BIRDNEST
registered office since 13-11-2014 · founded in 2014 · negative equity (2025)
total assets €2.7m (2025)
0567.762.576

Holdings and subsidiaries

1 holding

Holdings 1

Share, source and own figures per holding (1)
  • Equity -€144,485 Loss of €28,686 in 2025 (loss of €31,043 in 2024) Checked score 54
    48.75%
Holdings through the years 2014 to 2025
Holdings through the years
Name201420152016201720182019202020212022202320242025
BIRDNEST 5%48.75%
PROFITUNIT DIJNORD SASFR 53%53.5%
PROFITUNIT DIJSUD SASFR 53%53.5%
CORISTRETO DIJNORDFR 12%
CORISTRETOFR 10.91%
LES ROCHERS PREMIUM SASFR 3%
T2C 34%
HIGH TOPFR 5%
Sportunit SystemLU 50%
ProfitunitFR 53.5%

Source: list of holdings in its own accounts

Connections & network

1 current director
Depth

The network starts from the directors of BELCORTEX. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

22 events since 2013

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBabbreviated format · 55 days late
2025
Weakest financial year net -€1.2m The net result drops to -€1.2m, the lowest from 2014 to 2025.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0536895691
Annual accounts 2024 filed PDFfull format · 71 days late
2024
Annual accounts 2023 filed PDFfull format · 61 days late
2023
Annual accounts 2022 filed PDFfull format · 67 days late
2022
Annual accounts 2021 filed PDFfull format · 31 days before the deadline
2021
Equity above €2m equity €2.3m ▲49.1% After 6 profitable years in a row, equity reaches €2.3m.
Change of role: BIRDNEST, from manager to directorPermanent representative: Olivier BURNIAUX · General meeting of 26-02-20215 points ▸
  • General meeting, 26-02-2021
  • Director resignation, BIRDNEST (manager)
  • Director appointment, BIRDNEST (director (not named in the articles))
  • Permanent representative, Olivier BURNIAUX
  • Registered office clause, rue de l'Eglise 1, 1435 Mont-Saint-Guibert (Corbais)
  • The deed holds 9 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFfull format · 2 days before the deadline
2020
Annual accounts 2019 filed PDFfull format · 7 days before the deadline
2019
Highest result from 2014 to 2025 net €823,448 ▲138% The net result of €823,448 is the highest of those years.
Equity above €1m equity €1.1m ▲337% After 4 profitable years in a row, equity reaches €1.1m.
Annual accounts 2018 filed PDFfull format · 16 days before the deadline
2018
Equity above €200,000 equity €244,610 After 3 profitable years in a row, equity reaches €244,610.
Annual accounts 2017 filed PDFfull format · 5 days before the deadline
2017
Annual accounts 2016 filed PDFfull format · 1 day late
2016
Back to profit net €9,082 The net result is €9,082, after 2 loss-making years.
Annual accounts 2015 filed PDFfull format · 16 days before the deadline
2015
Annual accounts 2014 filed PDFfull format · 2 days before the deadline
2013
Incorporation PDFpublished on 02-08-2013
First establishment Rue de l'Eglise 1, Mont-Saint-Guibert

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 24 July 2013, BELCORTEX was incorporated.1 Total assets went from €4.7m in 2019 to €3.6m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0536.895.691
VAT number
BE 0536.895.691
Peppol ID
0208:0536895691
LEI code
967600MJQZYSAP083N05 no longer live in the LEI register
Legal form
Private limited company
Status
Active, normal situation
Founded
24-07-2013
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of June at 17:00
deed of 04-03-2021 (in French)
Peppol
Reachable since 03-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
BELCORTEX in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 04-03-2021 (in French)

Activities

NACEBEL 2025
Codes under NACEBEL 2008
64200 Holdings main activity
70220 Business consulting
82990 Other business support services

Registered office and establishments

1 establishment
Establishment Since Unit number
Rue de l'Eglise 1 registered office 1435 Mont-Saint-Guibert 7010001 Activities of head offices 05-07-2013 2.221.633.065

Buildings and parcels at the address

Ground area
493 m²
Buildings
117 m²
Volume, LiDAR
624 m³
Tallest building
10.2 m
Buildings to scale, each on its own parcel
117 m², 10.2 m 117 m², 10.2 m

Location

registered office establishment The establishment unit on the map
2 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
25020B0459/00V000493 m² 1 · 117 m² 10.2 m · 2