BELFIDI
ActiveSummary
BELFIDI has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.64M and a net result of €204k. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 27% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+21
Solvency46▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity short (current ratio 0.24 against 0.25 in 2024; short-term debt: 9.5% and cash: 1.1% of total assets), and 78.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
21.4%
Return on assets
2.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 08-05-2026, 84 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
84 d early
2024
71 d early
2023
114 d early
2022
13 d early
2021
1 d early
2020
1 d early
2019
18 d early
← 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by total assets in Waasmunster, Wholesale and retail trade sector#5 company by equity in Waasmunster, Wholesale and retail trade sector
Equity
€1.64M▲ 14.3%
2024 · €1.43M
Total assets
€7.66M▼ 3.0%
2024 · €7.90M
Net result
€204k▲ 46.4%
2024 · €140k
Working capital
€-557k▼ 15.6%
2024 · €-482k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€200k▲ 41.6%€-166k€359k€374k▲ 4.1%€400k▲ 7.1%
Net result€94k▲ 62.9%€-261k€156k€140k▼ 10.6%€204k▲ 46.4%
Equity€1.40M▲ 7.2%€1.14M▼ 18.6%€1.30M▲ 13.7%€1.43M▲ 10.8%€1.64M▲ 14.3%
Total assets€5.27M▼ 2.5%€8.36M▲ 58.5%€8.03M▼ 4.0%€7.90M▼ 1.6%€7.66M▼ 3.0%
Debt€3.87M▼ 5.6%€7.22M▲ 86.4%€6.73M▼ 6.8%€6.47M▼ 3.9%€6.03M▼ 6.8%
Working capital€141k▲ 252%€-411k€-425k▼ 3.3%€-482k▼ 13.5%€-557k▼ 15.6%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.66M
Fixed assets
€7.49M ▼ 3.2%
Current assets
€172k ▲ 8.3%
Equity and liabilities €7.66M
Equity
€1.64M ▲ 14.3%
Debt
€6.03M ▼ 6.8%
Debt's share of the balance-sheet total falls from 81.8% to 78.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€721k▲
2024 · €685k
Cash flow
€525k▲
2024 · €451k
Current ratio
0.24▼
2024 · 0.25
Debt to equity
3.68▼
2024 · 4.51
ROE
12.5%▲
2024 · 9.7%
ROA
2.7%▲
2024 · 1.8%
Interest coverage
5.47▲
2024 · 3.07
Debt ≤ 1 year
€729k▲
2024 · €641k
Debt > 1 year
€5.24M▼
2024 · €5.73M
Income taxes
€68k▲
2024 · €14k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €241k | €705k | €328k | €311k | €320k | ▲ 2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €616 | - |
| Other operating charges640/8 | €38k | €39k | €55k | €58k | €57k | ▼ 0.6% |
| Gross operating margin9900 | €479k | €577k | €742k | €743k | €779k | ▲ 4.8% |
| Operating profit (loss)9901 | €200k | €-166k | €359k | €374k | €400k | ▲ 7.1% |
| Financial income75/76B | €11 | - | €3k | €3k | €3k | ▲ 11.9% |
| Recurring financial income75 | €11 | - | €3k | €3k | €3k | ▲ 11.9% |
| Financial charges65/66B | €75k | €94k | €206k | €223k | €132k | ▼ 40.9% |
| Recurring financial charges65 | €75k | €94k | €206k | €223k | €132k | ▼ 40.9% |
| Profit (loss) for the period before taxes9903 | €126k | €-261k | €156k | €154k | €272k | ▲ 76.7% |
| Income taxes67/77 | €32k | €219 | €235 | €14k | €68k | ▲ 370% |
| Profit (loss) for the period9904 | €94k | €-261k | €156k | €140k | €204k | ▲ 46.4% |
| Profit (loss) for the period to be appropriated9905 | €94k | €-261k | €156k | €140k | €204k | ▲ 46.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.27M | €8.36M | €8.03M | €7.90M | €7.66M | ▼ 3.0% |
| Fixed assets21/28 | €4.89M | €8.12M | €7.80M | €7.74M | €7.49M | ▼ 3.2% |
| Intangible fixed assets21 | - | - | - | €16k | €10k | ▼ 37.1% |
| Tangible fixed assets22/27 | €4.89M | €8.12M | €7.80M | €7.73M | €7.48M | ▼ 3.2% |
| Land and buildings22 | €4.71M | €7.94M | €7.62M | €7.32M | €7.30M | ▼ 0.2% |
| Furniture and vehicles24 | €3k | €1k | €0 | - | - | - |
| Other tangible fixed assets26 | €180k | €180k | €180k | €180k | €180k | = |
| Assets under construction and advance payments27 | - | - | - | €229k | €0 | ▼ 100% |
| Financial fixed assets28 | €321 | €321 | €0 | - | - | - |
| Current assets29/58 | €381k | €236k | €229k | €159k | €172k | ▲ 8.3% |
| Amounts receivable within one year40/41 | €42k | €64k | €101k | €62k | €83k | ▲ 33.6% |
| Trade receivables40 | €23k | €41k | €83k | €60k | €83k | ▲ 37.7% |
| Other amounts receivable41 | €18k | €23k | €18k | €2k | €39 | ▼ 98.0% |
| Current investments50/53 | - | - | €100k | €0 | - | - |
| Cash at bank and in hand54/58 | €337k | €169k | €23k | €90k | €83k | ▼ 7.9% |
| Deferred charges and accrued income490/1 | €2k | €3k | €5k | €6k | €6k | ▼ 10.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.27M | €8.36M | €8.03M | €7.90M | €7.66M | ▼ 3.0% |
| Equity10/15 | €1.40M | €1.14M | €1.30M | €1.43M | €1.64M | ▲ 14.3% |
| Contributions10/11 | €120k | €120k | €120k | €120k | €120k | = |
| Capital10 | €120k | €120k | €120k | €120k | €120k | = |
| Issued capital100 | €120k | €120k | €120k | €120k | €120k | = |
| Reserves13 | €1.28M | €1.02M | €1.18M | €1.31M | €1.52M | ▲ 15.6% |
| Non-distributable reserves130/1 | €42k | €42k | €42k | €42k | €42k | = |
| Legal reserve130 | €42k | €42k | €42k | €42k | €42k | = |
| Distributable reserves133 | €1.24M | €977k | €1.13M | €1.27M | €1.48M | ▲ 16.1% |
| Amounts payable17/49 | €3.87M | €7.22M | €6.73M | €6.47M | €6.03M | ▼ 6.8% |
| Amounts payable after more than one year17 | €3.58M | €6.50M | €5.99M | €5.73M | €5.24M | ▼ 8.6% |
| Financial debts170/4 | €3.58M | €6.50M | €5.99M | €5.73M | €5.24M | ▼ 8.6% |
| Amounts payable within one year42/48 | €239k | €647k | €654k | €641k | €729k | ▲ 13.8% |
| Current portion of amounts payable after more than one year42 | €216k | €509k | €510k | €511k | €546k | ▲ 6.9% |
| Financial debts43 | - | - | - | €872 | €607 | ▼ 30.4% |
| Credit institutions430/8 | - | - | - | €872 | €607 | ▼ 30.4% |
| Trade debts44 | €5k | €9k | €9k | €13k | €12k | ▼ 8.3% |
| Suppliers440/4 | €5k | €9k | €9k | €13k | €12k | ▼ 8.3% |
| Advances received on contracts in progress46 | - | - | €6k | €0 | - | - |
| Taxes, remuneration and social security45 | €17k | €29k | €28k | €10k | €40k | ▲ 313% |
| Taxes450/3 | €17k | €29k | €28k | €10k | €40k | ▲ 313% |
| Other amounts payable47/48 | €1k | €100k | €100k | €106k | €130k | ▲ 22.9% |
| Accrued charges and deferred income492/3 | €50k | €72k | €84k | €99k | €60k | ▼ 39.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €94k | €-261k | €156k | €140k | €204k | ▲ 46.4% |
| + Depreciation and write-downs630 | €241k | €705k | €328k | €311k | €320k | ▲ 2.9% |
| Operating cash flow (approximation) | €335k | €444k | €484k | €451k | €525k | ▲ 16.3% |
| Investment in fixed assets (approximation) | - | €-3.94M | €321 | €-257k | €-71k | ▲ 72.4% |
| Change in cash | - | €-168k | €-146k | €67k | €-7k | ▼ 111% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €204k ▲46.4%
Operating result €400k, net result €204k, both a record.
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €156k
Net result €156k after one loss-making year.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-261k
Net result drops to €-261k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are 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, Waasmunster · 1 establishment unit since 1994
Ground area
6,135 m²
Building footprint
278 m²
Volume, LiDAR
4,565 m³
Parcel 42342C1595/00R003, Flanders · tallest building 24.5 m, ±6 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
BELFIDI
since 19942.069.128.873
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42342C1595/00R003 | Flanders | 6,135 m² | 1 · 278 m² | 24.5 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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ELSEN EQUIPMENT
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VERHOEVEN BELGIUM
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Of 388 companies in sector 46630 we hold annual accounts for 276. 196 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-10-1994
Fiscal year end31-12
Activities, NACEBEL 2025
46630Wholesale trade
46649Wholesale of other machinery and equipment
68203Renting and operating of own or leased non-residential real estate, excluding land
77399Renting and leasing of other machinery, equipment and tangible goods
Scores and ratios are computed by Checked and are not a credit decision.