BELCOTEC
ActiveSummary
BELCOTEC has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.2m and a net result of €1.0m. Equity is growing by about 17% per year across the filed financial years. Its solvency ranks better than 29% of 2,436 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Activity
General electrical installation work
NACE 43211Plumbing work NACE 43221
3rd largest company by total assets in Geel, Construction sector1 site
Size
€38.8mturnover 2025
- Staff
- 98.9 FTE
- Equity
- €7.2m
- Profit
- €1.0m
Structure
- Board
- 5 members
- Holdings
- 2
Auditor: Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'entreprises2025 accounts 13 days early7 of 15 deeds summarised
Why 92raises riskSector: Specialised construction activities (NACE 43)lowers riskFounded in 1992Liquidity: current ratio 1.40, cash €3.3mSize: turnover €38.8m, 98.9 FTE, total assets €26.2mShow the evidence
Checked score
Score 2025
92
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 52% of its sector peers (NACE 43, medium-sized)
Financial strength · tick = 2024
Average
Solvency
52+3
equity 27.4% of total assets
Liquidity
48+4
short-term debt 37.9% · cash 12.6%
Profitability
62-2
return on assets 4.0%
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%
12-2024: 0.1%● unchanged vs 11-2024
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.3%▲ +0.2 percentage points vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026highest value
08-2026: 0.1%▼ -0.2 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
Credit of up to €650,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.4, compared with 1.36 in 2024, below the usual 1.5; short-term debt: 37.9% and cash: 12.6% of total assets), and 72.6% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, medium-sized): better than 39% on solvency, 69% on liquidity, 46% on profitability and 55% on growth.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-07-2026, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
13 days early
2024
18 days early
2023
30 days early
2022
48 days early
2021
4 days early
2020
31 days early
2019
49 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% 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 13 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
29-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Appointment: Florian JUNG (director)Reappointments: Oliver NEHRING (director) and…
- Appointment: Florian JUNG (director)Resignation: Martinus MEGENS (director) ·…
Financials · financial year 2025, full format
In the rankings
#3 company by total assets in Geel, Construction sector#4 company by equity in Geel, Construction sector#5 employer in Geel, Construction sector
Turnover
€38.8m▼ 1.5%
2024 · €39.4m
EBIT margin
5.3%▲ 0.8pp
2024 · 4.4%
Net result
€1.0m▼ 4.0%
2024 · €1.1m
Working capital
€3.9m▲ 13.8%
2024 · €3.5m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 17% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€38.8m
2025
Operating result€2.0m
2025
Net result€1.0m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€26.2m
2025
Equity€7.2m
2025
Debt€19.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€3.9m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin5.3%
2025
Return on assets (ROA)4.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency27.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.40
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)98.9
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€19.7m-€23.8m▲ 20.7%€25.9m▲ 8.5%€26.3m▲ 1.9%€31.9m▲ 21.1%€36.7m▲ 15.0%€39.4m▲ 7.4%€38.8m▼ 1.5%
Operating result€1.1m-€1.9m▲ 63.9%€0.6m▼ 68.8%€0.8m▲ 40.0%€1.3m▲ 54.5%€1.8m▲ 40.2%€1.7m▼ 0.5%€2.0m▲ 17.1%
Net result€0.7m-€1.2m▲ 64.5%€0.3mabove the sector's middle half▼ 74.9%€0.5mabove the sector's middle half▲ 64.4%€0.7mabove the sector's middle half▲ 35.8%€1.2mabove the sector's middle half▲ 72.4%€1.1mabove the sector's middle half▼ 7.4%€1.0mabove the sector's middle half▼ 4.0%
EBIT margin5.7%-7.8%▲ 2.1pp2.2%▼ 5.6pp3.1%▲ 0.8pp3.9%▲ 0.9pp4.8%▲ 0.9pp4.4%▼ 0.4pp5.3%▲ 0.8pp
Equity€2.2m-€3.4m▲ 54.2%€3.7mabove the sector's middle half▲ 8.8%€3.7mabove the sector's middle half▼ 0.1%€3.9mabove the sector's middle half▲ 5.4%€5.1mabove the sector's middle half▲ 28.8%€6.2mabove the sector's middle half▲ 21.3%€7.2mabove the sector's middle half▲ 16.8%
Total assets€6.9m-€8.9m▲ 29.2%€9.4mabove the sector's middle half▲ 6.4%€10.1mabove the sector's middle half▲ 7.0%€10.8mabove the sector's middle half▲ 6.7%€11.7mabove the sector's middle half▲ 8.2%€25.4mabove the sector's middle half▲ 117%€26.2mabove the sector's middle half▲ 3.3%
Debt€4.6m-€5.4m▲ 17.2%€5.7m▲ 4.9%€6.4m▲ 11.7%€6.9m▲ 7.5%€6.6m▼ 3.7%€19.2m▲ 191%€19.0m▼ 1.0%
Working capital€1.7m-€2.9m▲ 66.9%€3.1mabove the sector's middle half▲ 5.9%€2.9mabove the sector's middle half▼ 6.4%€3.2mabove the sector's middle half▲ 10.4%€4.4mabove the sector's middle half▲ 39.0%€3.5mabove the sector's middle half▼ 21.1%€3.9mabove the sector's middle half▲ 13.8%
Solvency32.5%-38.7%▲ 6.3pp39.6%within the sector's middle half▲ 0.9pp37.0%within the sector's middle half▼ 2.6pp36.5%within the sector's middle half▼ 0.5pp43.5%within the sector's middle half▲ 7.0pp24.2%within the sector's middle half▼ 19.2pp27.4%within the sector's middle half▲ 3.2pp
Current ratio1.43-1.60▲ 0.171.63within the sector's middle half▲ 0.031.49within the sector's middle half▼ 0.131.50within the sector's middle half▲ 0.011.73within the sector's middle half▲ 0.231.36within the sector's middle half▼ 0.381.40within the sector's middle half▲ 0.04
Return on assets (ROA)10.7%-13.6%▲ 2.9pp3.2%within the sector's middle half▼ 10.4pp4.9%within the sector's middle half▲ 1.7pp6.3%within the sector's middle half▲ 1.3pp10.0%within the sector's middle half▲ 3.7pp4.3%within the sector's middle half▼ 5.7pp4.0%within the sector's middle half▼ 0.3pp
Staff (FTE)54.2-64.5▲ 19.0%77.6above the sector's middle half▲ 20.3%85.6above the sector's middle half▲ 10.3%91.3above the sector's middle half▲ 6.7%95.4above the sector's middle half▲ 4.5%96.2above the sector's middle half▲ 0.8%98.9above the sector's middle half▲ 2.8%
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26.2m
Fixed assets
€12.4m ▲ 1.1%
Current assets
€13.9m ▲ 5.4%
Equity and liabilities €26.2m
Equity
€7.2m ▲ 16.8%
Debt
€19.0m ▼ 1.0%
Debt's share of the balance-sheet total falls from 75.8% to 72.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.7m▲
2024 · €2.3m
Cash flow
€1.7m▲
2024 · €1.7m
Quick ratio
1.28▲
2024 · 1.23
Debt to equity
2.65▼
2024 · 3.13
ROE
14.4%▼
2024 · 17.5%
Interest coverage
5.52▼
2024 · 25.19
Debt ≤ 1 year
€9.9m▲
2024 · €9.7m
Debt > 1 year
€9.1m▼
2024 · €9.4m
Income taxes
€442,706▼
2024 · €466,408
Staff costs
€8.3m▲
2024 · €7.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 733 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97.4% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.0%
went bankrupt
1.4%
stopped otherwise
97.4%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 733 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | €19.8m | - | - | €27.2m | €33.0m | €37.8m | €41.0m | €40.2m | ▼ 1.9% |
| Turnover70 | €19.7m | €23.8m | €25.9m | €26.3m | €31.9m | €36.7m | €39.4m | €38.8m | ▼ 1.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | -€0.08m | - | - | €0.1m | €0.3m | €0.3m | €0.3m | -€0.2m | - |
| Own construction capitalised72 | - | - | - | - | - | - | €0.09m | €0.06m | ▼ 36.7% |
| Other operating income74 | €0.1m | - | - | €0.7m | €0.7m | €0.8m | €1.2m | €1.5m | ▲ 28.0% |
| Non-recurring operating income76A | - | - | - | €0.005m | €0.08m | €0 | - | €0.003m | - |
| Operating charges60/66A | €18.6m | - | - | €26.3m | €31.7m | €36.0m | €39.2m | €38.1m | ▼ 2.8% |
| Goods for resale, raw materials and consumables60 | €13.1m | - | - | €18.2m | €22.5m | €25.5m | €27.3m | €25.2m | ▼ 7.9% |
| Purchases600/8 | - | - | - | €18.2m | €22.5m | €25.5m | €27.4m | €25.3m | ▼ 7.4% |
| Change in stocks: decrease (increase)609 | -€0.07m | - | - | -€0.08m | €0.02m | -€0.009m | -€0.04m | -€0.2m | ▼ 354% |
| Services and other goods61 | €2.1m | - | - | €2.4m | €2.6m | €3.2m | €3.6m | €3.9m | ▲ 6.7% |
| Remuneration, social security and pensions62 | €3.2m | - | - | €5.3m | €6.0m | €6.8m | €7.6m | €8.3m | ▲ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.02m | €0 | - | - |
| Other operating charges640/8 | €0.02m | - | - | €0.04m | €0.1m | €0.07m | €0.07m | €0.09m | ▲ 35.9% |
| Non-recurring operating charges66A | €0.01m | - | - | €0 | €0.004m | €0 | - | - | - |
| Operating profit (loss)9901 | €1.1m | €1.9m | €0.6m | €0.8m | €1.3m | €1.8m | €1.7m | €2.0m | ▲ 17.1% |
| Financial income75/76B | - | - | - | €0.001m | €0.09m | €0.03m | €0.02m | €0.006m | ▼ 76.0% |
| Recurring financial income75 | €0.001m | €0 | €17 | €0.001m | €0.09m | €0.03m | €0.02m | €0.006m | ▼ 76.0% |
| Other financial income752/9 | €0.001m | - | - | €0.001m | €0.09m | €0.03m | €0.02m | €0.006m | ▼ 76.0% |
| Financial charges65/66B | €0.08m | - | - | €0.09m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 152% |
| Recurring financial charges65 | €0.08m | €0.08m | €0.08m | €0.09m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 152% |
| Debt charges650 | €0.02m | €0.02m | €0.02m | €0.01m | €0.03m | €0.1m | €0.09m | €0.5m | ▲ 428% |
| Other financial charges652/9 | €0.06m | - | - | €0.08m | €0.07m | €0.07m | €0.1m | €0.09m | ▼ 35.7% |
| Profit (loss) for the period before taxes9903 | €1.1m | €1.8m | €0.5m | €0.7m | €1.2m | €1.6m | €1.5m | €1.5m | ▼ 4.3% |
| Income taxes67/77 | €0.3m | €0.6m | €0.2m | €0.2m | €0.6m | €0.4m | €0.5m | €0.4m | ▼ 5.1% |
| Taxes670/3 | €0.4m | - | - | €0.2m | €0.6m | €0.4m | €0.5m | €0.5m | ▼ 3.5% |
| Tax adjustments and reversals of tax provisions77 | €0.03m | - | - | - | - | €0.02m | €0 | €0.007m | - |
| Profit (loss) for the period9904 | €0.7m | €1.2m | €0.3m | €0.5m | €0.7m | €1.2m | €1.1m | €1.0m | ▼ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €1.2m | €0.3m | €0.5m | €0.7m | €1.2m | €1.1m | €1.0m | ▼ 4.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €6.9m | €8.9m | €9.4m | €10.1m | €10.8m | €11.7m | €25.4m | €26.2m | ▲ 3.3% |
| Fixed assets21/28 | €1.1m | €1.2m | €1.5m | €1.5m | €1.4m | €1.3m | €12.2m | €12.4m | ▲ 1.1% |
| Tangible fixed assets22/27 | €1.1m | €1.2m | €1.5m | €1.5m | €1.4m | €1.3m | €1.7m | €1.9m | ▲ 7.5% |
| Plant, machinery and equipment23 | €0.3m | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 24.7% |
| Furniture and vehicles24 | €0.1m | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 69.9% |
| Leasing and similar rights25 | €0.7m | - | - | €0.8m | €0.9m | €0.9m | €1.3m | €1.3m | ▲ 4.3% |
| Financial fixed assets28 | - | - | - | - | - | - | €10.5m | €10.5m | = |
| Affiliated companies280/1 | - | - | - | - | - | - | €10.5m | €10.5m | = |
| Participating interests280 | - | - | - | - | - | - | €10.5m | €10.5m | = |
| Current assets29/58 | €5.8m | €7.7m | €7.9m | €8.7m | €9.4m | €10.4m | €13.2m | €13.9m | ▲ 5.4% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.3m | €0.6m | €1.0m | €1.3m | €1.2m | ▼ 5.8% |
| Stocks30/36 | €0.1m | - | - | €0.2m | €0.2m | €0.4m | €0.4m | €0.6m | ▲ 37.8% |
| Goods purchased for resale34 | €0.1m | - | - | €0.2m | €0.2m | €0.4m | €0.4m | €0.6m | ▲ 37.8% |
| Contracts in progress37 | €0.02m | - | - | €0.1m | €0.4m | €0.6m | €0.8m | €0.6m | ▼ 28.6% |
| Amounts receivable within one year40/41 | €3.7m | €4.5m | €6.2m | €5.8m | €7.3m | €7.0m | €9.4m | €9.2m | ▼ 2.3% |
| Trade receivables40 | €3.4m | - | - | €4.9m | €5.6m | €5.6m | €8.0m | €8.0m | ▼ 0.8% |
| Other amounts receivable41 | €0.3m | - | - | €0.9m | €1.7m | €1.4m | €1.4m | €1.2m | ▼ 10.9% |
| Current investments50/53 | - | - | - | €0.5m | €0 | - | - | - | - |
| Own shares50 | - | - | - | €0.5m | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €1.9m | €2.8m | €1.5m | €2.1m | €1.3m | €2.3m | €2.3m | €3.3m | ▲ 44.4% |
| Deferred charges and accrued income490/1 | €0.05m | - | - | €0.07m | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 6.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €6.9m | €8.9m | €9.4m | €10.1m | €10.8m | €11.7m | €25.4m | €26.2m | ▲ 3.3% |
| Equity10/15 | €2.2m | €3.4m | €3.7m | €3.7m | €3.9m | €5.1m | €6.2m | €7.2m | ▲ 16.8% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | €0.07m | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | €0.07m | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €2.2m | €3.4m | €3.7m | €3.7m | €3.9m | €5.0m | €6.1m | €7.1m | ▲ 17.0% |
| Non-distributable reserves130/1 | - | - | - | €0.5m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | €0.007m | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Own shares acquired1312 | - | - | - | €0.5m | €0 | - | - | - | - |
| Distributable reserves133 | €2.2m | - | - | €3.2m | €3.9m | €5.0m | €6.1m | €7.1m | ▲ 17.0% |
| Amounts payable17/49 | €4.6m | €5.4m | €5.7m | €6.4m | €6.9m | €6.6m | €19.2m | €19.0m | ▼ 1.0% |
| Amounts payable after more than one year17 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €9.4m | €9.1m | ▼ 3.5% |
| Financial debts170/4 | €0.6m | - | - | €0.6m | €0.6m | €0.6m | €9.4m | €9.1m | ▼ 3.5% |
| Leasing and similar obligations172 | €0.5m | - | - | €0.6m | €0.6m | €0.6m | €0.9m | €1.0m | ▲ 7.1% |
| Credit institutions173 | €0.06m | - | - | €0.006m | €0 | - | - | - | - |
| Other loans174 | - | - | - | - | - | - | €8.5m | €8.1m | ▼ 4.7% |
| Amounts payable within one year42/48 | €4.0m | €4.8m | €4.9m | €5.8m | €6.3m | €6.0m | €9.7m | €9.9m | ▲ 2.4% |
| Current portion of amounts payable after more than one year42 | €0.2m | - | - | €0.3m | €0.3m | €0.3m | €2.4m | €2.2m | ▼ 7.6% |
| Financial debts43 | €0.1m | - | - | €0.2m | €2.1m | €0.2m | €0.2m | €0.2m | ▲ 9.1% |
| Credit institutions430/8 | €0.1m | - | - | €0.2m | €2.1m | €0.2m | €0.2m | €0.2m | ▲ 9.1% |
| Trade debts44 | €3.0m | €3.7m | €4.0m | €4.2m | €3.5m | €5.0m | €6.7m | €5.6m | ▼ 16.0% |
| Suppliers440/4 | €3.0m | - | - | €4.2m | €3.5m | €5.0m | €6.7m | €5.6m | ▼ 16.0% |
| Taxes, remuneration and social security45 | €0.3m | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.7m | ▲ 55.8% |
| Taxes450/3 | €0.1m | - | - | €80 | €0 | €0.008m | €0 | €0.001m | - |
| Remuneration and social security454/9 | €0.2m | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.7m | ▲ 55.6% |
| Other amounts payable47/48 | €0.4m | - | - | €0.7m | €0.03m | €0.03m | €0.002m | €1.2m | ▲ 512× |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | €0.1m | €0.002m | ▼ 98.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.7m | €1.2m | €0.3m | €0.5m | €0.7m | €1.2m | €1.1m | €1.0m | ▼ 4.0% |
| + Depreciation and write-downs630 | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 11.6% |
| Operating cash flow (approximation) | €1.0m | €1.5m | €0.7m | €1.0m | €1.2m | €1.7m | €1.7m | €1.7m | ▲ 1.4% |
| Investment in fixed assets (approximation) | - | -€0.4m | -€0.7m | -€0.4m | -€0.4m | -€0.4m | -€11.5m | -€0.8m | ▲ 93.3% |
| Change in cash | - | €0.9m | -€1.3m | €0.5m | -€0.7m | €1.0m | €0.02m | €1.0m | ▲ 42× |
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 34 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 18-07-2026 | 2026-00313666 |
| 31-12-2024 | full format | 13-07-2025 | 2025-00262396 |
| 31-12-2023 | full format | 01-07-2024 | 2024-00187818 |
| 31-12-2022 | full format | 13-06-2023 | 2023-00121702 |
| 31-12-2021 | full format | 27-07-2022 | 2022-20233100 |
| 31-12-2020 | full format | 30-06-2021 | 2021-29900439 |
| 31-12-2019 | full format | 12-06-2020 | 2020-16500442 |
| 31-12-2018 | full format | 13-06-2019 | 2019-18700584 |
| 31-12-2017 | full format | 23-07-2018 | 2018-36800134 |
| 31-12-2016 | abbreviated format | 03-05-2017 | 2017-11000058 |
Similar companies · same sector, comparable size
De Maerteleire
BE 0400.136.876
Merelbeke-Melle · equity €7.2m
CALLEWAERT
BE 0413.836.939
Harelbeke · equity €7.3m
MONTECH
BE 0459.265.207
Beringen · equity €7.1m
CONNECTIFY
BE 0700.317.531
Beernem · equity €7.0m
GS SOLUTIONS
BE 0883.743.343
Hamme (Vl.) · equity €7.4m
Of the 22,641 active companies whose main activity is general electrical installation work (NACE 43211), figures are known for 10,538. 800 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 11 entries · €66,364 awarded · €65,346 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €37,703 | €36,641 |
| 2024 | 4 | €21,115 | €21,115 |
| 2023 | 1 | €1,943 | €1,987 |
| 2022 | 2 | €5,603 | €5,603 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
5 directors, last change in 2026
Board 5
MEGENS Martinus Petrus Wilhelmus
CurrentDirector (not named in the articles) · since 15-11-2022
Oliver NEHRING
CurrentDirector · since 15-11-2022
Florian JUNG
CurrentDirector · since 30-01-2026
Martinus MEGENS
CurrentDirector
WATERWEG
CurrentDirector (not named in the articles) · Legal entity · permanent representative: Jan Vangeel
Permanent representatives 1
Jan Vangeel
CurrentPermanent representative · for WATERWEG
Statutory auditor 1
Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'entreprises
CurrentStatutory auditor · since 11-12-2024 · permanent representative: Peter Robrechts
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
8 of this company's 15 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
7 people since 2022, 6 in office
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| MEGENS Martinus Petrus Wilhelmus |
|
| Oliver NEHRING |
|
| WATERWEG |
|
| Florian JUNG |
|
| Martinus MEGENS |
|
| Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'entreprises |
|
| VANGEEL Jan |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Belcotec TechnicssubsidiaryEquity €778,049Result €634,145100%
- ELECTRICITEITSWERKEN GIELENsubsidiaryEquity €4.2mResult €488,716100%
According to the 2025 annual accounts of BELCOTEC and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
S&G Invest
via MEGENS Martinus and NEHRING Oliver · Director
former→
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
18-07
NBB filing
Annual accounts filed
financial year 2025 · full format
09-04
Gazette deed
Appointment: Florian JUNG (director)Reappointments: Oliver NEHRING (director) and Martinus MEGENS (director) · Resignation: Martinus MEGENS (director) · Director discharge10 facts ▸
Gazette deed
Appointment: Florian JUNG (director)
Reappointments: Oliver NEHRING (director) and Martinus MEGENS (director) · Resignation: Martinus MEGENS (director) · Director discharge10 facts ▸
- General meeting, 30-01-2026
- General meeting, 16-03-2026
- Director appointment, Florian JUNG (director)
- Director reappointment, Oliver NEHRING (director)
- Director reappointment, Martinus MEGENS (director)
- Board composition, Florian JUNG (director) (2 times)
- Other provision, “verklaring bestuursverboden Wet van 04-05-2023, geen veroordeling door rechtscollege van lidstaat van Europese Economische Ruimte tot soortgelijk verbod” (deed in Dutch)
- Director resignation, Martinus MEGENS (director)
- Director discharge, Martinus MEGENS
- Board composition, Oliver NEHRING (director)
09-04
Gazette deed
Appointment: Florian JUNG (director)Resignation: Martinus MEGENS (director) · Reappointments: Oliver NEHRING (director) and Florian JUNG (director) · Director discharge11 facts ▸
Gazette deed
Appointment: Florian JUNG (director)
Resignation: Martinus MEGENS (director) · Reappointments: Oliver NEHRING (director) and Florian JUNG (director) · Director discharge11 facts ▸
- General meeting, 30-01-2026
- Director appointment, Florian JUNG (director)
- Board composition, Oliver NEHRING (director) (2 times)
- Board composition, Martinus MEGENS (director)
- Board composition, Florian JUNG (director) (2 times)
- Other provision, “Bijlage 1, kennisname bijzondere verklaring bestuursverboden” (deed in Dutch)
- General meeting, 16-03-2026
- Director resignation, Martinus MEGENS (director)
- Director discharge, Martinus MEGENS
- Director reappointment, Oliver NEHRING (director)
- Director reappointment, Florian JUNG (director)
2025
13-07
NBB filing
Annual accounts filed
financial year 2024 · full format
06-03
Gazette deed
Resignation: WATERWEG BV (director)Power of attorney · Declaration · Shareholding14 facts ▸
Gazette deed
Resignation: WATERWEG BV (director)
Power of attorney · Declaration · Shareholding14 facts ▸
- Board meeting, 13-02-2025
- Director resignation, WATERWEG BV (director)
- Director in office, WATERWEG BV (day-to-day manager)
- Power of attorney, WATERWEG BV
- Board composition, Oliver NEHRING (director)
- Board composition, Martinus MEGENS (director)
- Declaration, “rechtsgeldige samenstelling, De Raad van Bestuur verklaart dat hij aldus rechtsgeldig is samengesteld” (deed in Dutch)
- Declaration, “geen verzoek tot blijven in functie, bevestigt voor zover als nodig, dat hij WATERWEG BV, vast vertegenwoordigd door de heer Jan Vangeel niet verzoekt om in fun…” (deed in Dutch)
- Power of attorney (2 times)
- Power of attorney, Natalie Ulburghs
- Power of attorney, Tijs Schuermans
- Power of attorney, Sander Claus
- +2 further facts in this act
2024
11-12
Gazette deed
Reappointment: Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'Entreprises (statutory auditor)Permanent representative: Jan Vangeel4 facts ▸
Gazette deed
Reappointment: Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'Entreprises (statutory auditor)
Permanent representative: Jan Vangeel4 facts ▸
- General meeting, 26-06-2024
- Auditor reappointment, Bv Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'Entreprises (statutory auditor)
- Director in office, Waterweg BV (managing director)
- Permanent representative, Jan Vangeel
01-07
NBB filing
Annual accounts filed
financial year 2023 · full format
07-05
Gazette deed
Permanent representative: Jan VANGEELPower of attorney5 facts ▸
Gazette deed
Permanent representative: Jan VANGEEL
Power of attorney5 facts ▸
- Director in office, Martinus MEGENS (director)
- Director in office, Oliver NEHRING (director)
- Power of attorney, WATERWEG BV
- Permanent representative, Jan VANGEEL
- Other provision, “publicatienummer”, 24070052 (deed in Dutch)
2023
31-12
Financial
Equity above €5mequity €5.1m ▲28.8%
A profit in every financial year since 2018 builds equity to €5.1m.
13-06
NBB filing
Annual accounts filed
financial year 2022 · full format
2022
29-11
Gazette deed
Resignation: VANGEEL Jan (statutaire enige bestuurder)Appointments: WATERWEG, NEHRING Oliver and MEGENS Martinus Petrus Wilhelmus · Permanent representative: VANGEEL Jan · Share cancellation14 facts ▸
Gazette deed
Resignation: VANGEEL Jan (statutaire enige bestuurder)
Appointments: WATERWEG, NEHRING Oliver and MEGENS Martinus Petrus Wilhelmus · Permanent representative: VANGEEL Jan · Share cancellation14 facts ▸
- General meeting, 15-11-2022
- Share cancellation, “ingekochte eigen aandelen”, 86 (deed in Dutch)
- Capital (2 times)
- Other provision, “roerende voorheffing, geheel gedragen door schuldenaar ter ontlasting van verkrijger” (deed in Dutch)
- Other provision, “raad van bestuur” (deed in Dutch)
- Director resignation, VANGEEL Jan (statutaire enige bestuurder)
- Director discharge, VANGEEL Jan
- Amendment of the articles (2 times)
- Capital, €65,000
- Director appointment, WATERWEG (director (not named in the articles))
- Director appointment, NEHRING Oliver (director (not named in the articles))
- Director appointment, MEGENS Martinus Petrus Wilhelmus (director (not named in the articles))
- +2 further facts in this act
25-11
Gazette deed
Capital & shares1 fact ▸
Gazette deed
Capital & shares
1 fact ▸
- Other provision, “Lijst vernietigde aandelen, artikel 7:219,§1,lid 3 van het Wetboek van vennootschappen en verenigingen” (deed in Dutch)
Show earlier events
27-07
NBB filing
Annual accounts filed
financial year 2021 · full format
2021
30-06
NBB filing
Annual accounts filed
financial year 2020 · full format
2020
31-12
Financial
Weakest financial yearnet €302,861 ▼74.9%
Net result drops to €302,861, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
financial year 2019 · full format
2019
31-12
Financial
Highest result from 2018 to 2025net €1.2m ▲64.5%
Net result €1.2m, the highest in the series.
13-06
NBB filing
Annual accounts filed
financial year 2018 · full format
2018
23-07
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
03-05
NBB filing
Annual accounts filed
financial year 2016 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 34 annual accounts filed, the latest 10 are here; all 34 are under Financials.
7 of 15 deeds read
About the unread acts
Of the 15 Belgian Official Gazette deeds we know for this company, 7 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Register details
Identification
Legal formPublic limited company
Founded02-03-1992
Financial year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43221Plumbing work
Contact
Website
www.belcotec.be
E-mail
info@belcotec.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446781010
Registered
02-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0446.781.010
Recognitions · licences · registrations
Recognised contractor
2 categoriesBELCOTEC NVapproval no. 45498
- D17 Central heating, thermal installationsclass 8, no upper limit
- D18 Ventilation, warm-air heating and air conditioningclass 7, up to €6,396,000
Dual-learning approval
6 live approvals · 7 endedHoeknaadlasser duaal (so)
Lassen-constructie duaal (so)
Lasser-monteerder (vwo)
Lasser-monteerder duaal (so)
Technicus installatietechnieken (vwo)
Technicus installatietechnieken duaal (so)
Show 7 ended approvals
Elektromecanicien (vwo)
Elektromecanicien duaal (so)
Elektromechanische technieken duaal (so)
Pijpfitter-fabriceur (vwo)
Pijpfitter-fabriceur duaal (so)
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Sanitair installateur (so)
Legal Entity Identifier
699400SCL0X73RB24I59
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Geel · 1 establishment unit since 1992
Ground area
8,814 m²
Building footprint
1,694 m²
Parcel 13376G0336/00F002, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Belcotec
since 1992unit no. 2.056.784.931
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13376G0336/00F002 | Flanders | 8,814 m² | 1 · 1,694 m² | 0.0 m |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- BELCOTEC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “2, indien en zolang de vennootschap minder dan drie (3) aandeelhouders heeft” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam of gedematerialiseerd, bij splitsing blote eigendom en vruchtgebruik worden vruchtgebruiker en blote eigenaar afzonderlijk…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Monday of May at 20:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Benoeming vereffenaars, bij ontbinding om welke reden en op welk ogenblik ook” (deed in Dutch)“Bevoegdheden vereffenaars, alle verrichtingen vermeld in wet” (deed in Dutch)“Na aanzuivering van alle schulden,lasten en kosten of na consignatie van nodige gelden, wijze van vereffening” (deed in Dutch)