Belficos

Active

Private limited companyfounded 201610 yrs activeKnotwilgenweg 7, 2220 Heist-op-den-Berg, BelgiumKBO/BCE: BE 0660.902.768

Belficos has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €500k and a net result of €-2k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 2276 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2024

26 / 100

Weak▲ +6 vs 2023

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

Axes · tick = 2023

Profitability0=

Solvency19▼-4

Growth78▲+26

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €13k at 30 days only on tighter terms

Liquidity short (current ratio 0.94 against 0.97 in 2023), and 85.5% 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.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 82

Relative position

BE, all sectors

reference

Sector 82

lower

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

14.5%

Return on assets

-0.1%

Age of the figures

20 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2276 sector peers (2024).

NBB · sector comparison

Position among 2276 sector peers

Solvency

better than 22%

← weakest strongest →

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 8 filings

Deviation from the deadline

2025

not confirmed

2024

92 d late

2023

13 d late

2022

136 d early

2021

30 d late

2020

44 d early

2019

76 d late

← 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, abbreviated schema

Equity

€500k▲ 23.2%

2023 · €406k

2018: €29k 2019: €-96k 2020: €-191k 2021: €3k 2022: €460k 2023: €406k

2018 → 2024

Total assets

€3.46M▲ 58.2%

2023 · €2.19M

2018: €917k 2019: €1.14M 2020: €1.17M 2021: €1.39M 2022: €978k 2023: €2.19M

2018 → 2024

Net result

€-2k▲ 95.6%

2023 · €-53k

2018: €-18k 2019: €-126k 2020: €-95k 2021: €195k 2022: €48k 2023: €-53k

2018 → 2024

Working capital

€-164k▼ 194%

2023 · €-56k

2018: €-114k 2019: €-353k 2020: €-289k 2021: €-115k 2022: €-46k 2023: €-56k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-191k-€3k€460k▲ 13,141%€406k▼ 11.6%€500k▲ 23.2%

Operating result€-84k-€211k€56k▼ 73.4%€-43k€119k

Net result€-95k-€195k€48k▼ 75.3%€-53k€-2k▲ 95.6%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €119k after a loss of €43k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €3.46M

26.0%

74.0%

Fixed assets €901k▲ 56.5%

Current assets €2.56M▲ 58.9%

Equity and liabilities €3.46M

14.5%

85.5%

Equity €500k▲ 23.2%

Debt €2.96M▲ 66.3%

The debt ratio rises from 81.4% to 85.5%: debt grows faster than equity.

Key figures and ratios

2024 value · change against 2023

EBITDA

€265k▲

2023 · €60k

Cash flow

€143k▲

2023 · €50k

Solvency

14.5%▼

2023 · 18.6%

Current ratio

0.94▼

2023 · 0.97

Quick ratio

0.43▼

2023 · 0.54

Debt / equity

5.91▲

2023 · 4.38

ROE

-0.5%▲

2023 · -13.1%

ROA

-0.1%▲

2023 · -2.4%

Interest coverage

1.84▼

2023 · 5.66

Debt

€2.96M▲

2023 · €1.78M

Debt ≤ 1 year

€2.72M▲

2023 · €1.67M

Debt > 1 year

€236k▲

2023 · €113k

Income taxes

€429

Staff costs

€664k▲

2023 · €317k

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€2.19M€3.46M▲

Fixed assets21/28€575k€901k▲

Intangible fixed assets21€160k€157k▼

Tangible fixed assets22/27€411k€743k▲

Land and buildings22€11k€9k▼

Plant, machinery and equipment23€394k€428k▲

Furniture and vehicles24€3k€2k▼

Leasing and similar rights25-€302k

Other tangible fixed assets26€3k€3k▼

Financial fixed assets28€4k€0▼

Current assets29/58€1.61M€2.56M▲

Stocks and contracts in progress3€709k€1.40M▲

Stocks30/36€709k€1.40M▲

Contracts in progress37-€0

Amounts receivable within one year40/41€850k€684k▼

Trade receivables40€460k€455k▼

Other amounts receivable41€390k€230k▼

Cash at bank and in hand54/58€50k€452k▲

Deferred charges and accrued income490/1€2k€23k▲

Equity and liabilities

Total equity and liabilities10/49€2.19M€3.46M▲

Equity10/15€406k€500k▲

Contributions10/11€488k€488k=

Reserves13-€15k

Distributable reserves133-€15k

Profit (loss) carried forward14€-82k€-2k▲

Amounts payable17/49€1.78M€2.96M▲

Amounts payable after more than one year17€113k€236k▲

Financial debts170/4€113k€236k▲

Amounts payable within one year42/48€1.67M€2.72M▲

Current portion of amounts payable after more than one year42€429k€137k▼

Financial debts43-€375k

Credit institutions430/8-€375k

Trade debts44€874k€778k▼

Suppliers440/4€874k€778k▼

Advances received on contracts in progress46-€58k

Taxes, remuneration and social security45€12k€115k▲

Taxes450/3€11k€25k▲

Remuneration and social security454/9€610€91k▲

Other amounts payable47/48€351k€1.26M▲

Income statement Code20232024

Remuneration, social security and pensions62€317k€664k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€103k€145k▲

Other operating charges640/8€6k€668▼

Non-recurring operating charges66A-€10k

Gross operating margin9900€384k€939k▲

Operating profit (loss)9901€-43k€119k▲

Financial income75/76B€465€22k▲

Recurring financial income75€465€22k▲

Financial charges65/66B€11k€144k▲

Recurring financial charges65€11k€144k▲

Profit (loss) for the period before taxes9903€-53k€-2k▲

Income taxes67/77-€429

Profit (loss) for the period9904€-53k€-2k▲

Profit (loss) for the period to be appropriated9905€-53k€-2k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-82k€-2k▲

Profit (loss) brought forward from the previous period14P€-28k€0▲

Transfer to equity691/2-€0

To other reserves6921-€0

Social balance

Average headcount (FTE)90876.811.0▲

The notes to these accounts (19 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 12Financial 4Filings 8

2025

31-10

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 92 days late

2024

31-12

Financial Equity above €500kEq €500k ▲23.2%

Equity rises from €406k to €500k.

13-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 13 days late

2023

17-03

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Equity above €200kEq €460k ▲13141%

2 profitable years in a row build equity to €460k.

30-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 30 days late

2021

31-12

Financial Back to profitnet €195k

Net result €195k after 3 loss-making years.

17-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

15-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 76 days late

2019

31-12

Financial Weakest financial yearnet €-126k

Net result drops to €-126k, the lowest in the series; recovery starts the following year.

16-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 77 days late

2018

30-10

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 91 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2024

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.

21-10-2024 Backer Stephan: Resigned as Director

09-06-2022 EMPRO: Resigned as Director

09-06-2022 HELIS CONSULT: Resigned as Director

09-06-2022 SDB CONSULTING BVBA: Resigned as Director

Location & real-estate footprint

Registered office, Heist-op-den-Berg · 1 establishment unit since 2016

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.

Knotwilgenweg 72220 Heist-op-den-Berg

Ground area

3,428 m²

Building footprint