BELFAGEMED
ActiveSummary
The annual accounts of BELFAGEMED for fiscal year 2025 show a net loss of 59% of the equity at the start of that year. The 2025 annual accounts show equity of €13k and a net result of €-20k. Equity is shrinking by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 2331 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-87
Solvency40▼-14
Growth32▼-46
Track record94
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.61 against 0.65 in 2024; short-term debt: 49.5% and cash: 25.4% of total assets), and 84.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Sector 86
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
15.2%
Return on assets
-22.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 2331 sector peers (2025).
NBB · sector comparisonPosition among 2331 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
19 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-20k
2024 · €16k
2023: €14k
2024: €16k
2023 → 2025
Working capital
€-17k▲ 25.9%
2024 · €-23k
2023: €-46k
2024: €-23k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€17k-€33k▲ 98.2%€13k▼ 59.4%
Operating result€19k-€22k▲ 15.6%€-18k
Net result€14k-€16k▲ 19.8%€-20k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €18k after €22k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €88k
Fixed assets
€62k ▼ 14.2%
Current assets
€26k ▼ 37.6%
Equity and liabilities €88k
Equity
€13k ▼ 59.4%
Debt
€75k ▼ 8.1%
Debt's share of the balance-sheet total rises from 71.2% to 84.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-6k▼
2024 · €34k
Cash flow
€-8k▼
2024 · €28k
Current ratio
0.61▼
2024 · 0.65
Debt to equity
5.59▲
2024 · 2.47
ROE
-146.4%▼
2024 · 49.5%
ROA
-22.2%▼
2024 · 14.3%
Interest coverage
-4.65▼
2024 · 35.48
Debt ≤ 1 year
€44k▼
2024 · €65k
Debt > 1 year
€31k▲
2024 · €16k
Income taxes
€98▼
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€114k€88k▼
Fixed assets21/28€72k€62k▼
Intangible fixed assets21€51k€45k▼
Tangible fixed assets22/27€21k€17k▼
Land and buildings22€980€871▼
Furniture and vehicles24€20k€16k▼
Current assets29/58€42k€26k▼
Amounts receivable within one year40/41-€3k
Other amounts receivable41-€3k
Cash at bank and in hand54/58€41k€22k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€114k€88k▼
Equity10/15€33k€13k▼
Contributions10/11€3k€3k=
Reserves13€14k€14k=
Distributable reserves133€14k€14k=
Profit (loss) carried forward14€16k€-3k▼
Amounts payable17/49€81k€75k▼
Amounts payable after more than one year17€16k€31k▲
Financial debts170/4€16k€31k▲
Amounts payable within one year42/48€65k€44k▼
Current portion of amounts payable after more than one year42€5k€11k▲
Trade debts44€548€648▲
Suppliers440/4€548€648▲
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€3k€3k▼
Other amounts payable47/48€57k€29k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€12k▲
Other operating charges640/8€387€400▲
Gross operating margin9900€34k€-6k▼
Operating profit (loss)9901€22k€-18k▼
Financial charges65/66B€948€1k▲
Recurring financial charges65€948€1k▲
Profit (loss) for the period before taxes9903€21k€-19k▼
Income taxes67/77€5k€98▼
Profit (loss) for the period9904€16k€-20k▼
Profit (loss) for the period to be appropriated9905€16k€-20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€16k€-3k▼
Profit (loss) brought forward from the previous period14P-€16k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-20k ▼220%
Net result drops to €-20k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 27 days late
2024
31-12
Financial
Highest result since 2023net €16k ▲19.8%
Operating result €22k, net result €16k, both a record.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Chaudfontaine · 1 establishment unit since 2023
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.
Rue Toussaint Gerkens 394052 ChaudfontaineGround area
127 m²
Building footprint
127 m²
Volume, LiDAR
847 m³
Parcel 62012D0263/00H002, Wallonia · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BELFAGEMED
since 20232.346.036.456
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62012D0263/00H002 | Wallonia | 127 m² | 1 · 127 m² | 9.2 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.
Similar companies · same sector, comparable size
Dr. Jolien Zwaneveld
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Dr. Baens Liesbeth - huisarts
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Sint-Truiden · Eq €13,287
Dr. Jolien Wevers
BE 0733.804.307
Haacht · Eq €13,603
BOSTRALGO
BE 1026.605.537
Leuven · Eq €13,675
Santé Globale
BE 1021.571.930
Elsene · Eq €13,034
Of 9,124 companies in sector 86210 we hold annual accounts for 6,337. 2,599 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
86210General medical practice
72109Other research and development on natural sciences
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.