BELFISK
ActiveSummary
BELFISK has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €408k and a net result of €-9k. Equity is growing by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 35% of 8095 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability37=
Solvency63▲+23
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.04 against 0.52 in 2023; short-term debt: 26.3% and cash: 0.4% of total assets), and 61.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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 2024Solvency, return and age of the figures
Solvency
38.2%
Return on assets
-0.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-08-2025, 2 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
2 d late
2023
61 d late
2022
11 d late
2021
31 d late
2020
23 d late
2019
123 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€408k▲ 149%
2023 · €164k
2018: €254k
2019: €276k▲ +8.7% vs 2018
2020: €279k▲ +1.3% vs 2019
2021: €284k▲ +1.7% vs 2020
2022: €434k▲ +52.7% vs 2021highest in 7 years
2023: €164k▼ -62.2% vs 2022lowest in 7 years
2024: €408k▲ +149% vs 2023
2018 → 2024
Total assets
€1.07M▼ 2.0%
2023 · €1.09M
2018: €874k
2019: €873k▼ -0.1% vs 2018
2020: €861k▼ -1.4% vs 2019
2021: €739k▼ -14.1% vs 2020lowest in 7 years
2022: €920k▲ +24.5% vs 2021
2023: €1.09M▲ +18.3% vs 2022highest in 7 years
2024: €1.07M▼ -2.0% vs 2023
2018 → 2024
Net result
€-9k▲ 50.4%
2023 · €-17k
2018: €-13k
2019: €22k▲ +274% vs 2018
2020: €4k▼ -83.7% vs 2019
2021: €5k▲ +30.5% vs 2020
2022: €150k▲ +3084% vs 2021highest in 7 years
2023: €-17k▼ -112% vs 2022lowest in 7 years
2024: €-9k▲ +50.4% vs 2023
2018 → 2024
Working capital
€11k
2023 · €-275k
2018: €-112k
2019: €-78k▲ +30.4% vs 2018
2020: €-99k▼ -26.6% vs 2019
2021: €-97k▲ +1.3% vs 2020
2022: €-30k▲ +68.9% vs 2021
2023: €-275k▼ -805% vs 2022lowest in 7 years
2024: €11k▲ +104% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€279k-€284k▲ 1.7%€434k▲ 52.7%€164k▼ 62.2%€408k▲ 149%
2020: €279k
2021: €284k▲ +1.7% vs 2020
2022: €434k▲ +52.7% vs 2021highest in 5 years
2023: €164k▼ -62.2% vs 2022lowest in 5 years
2024: €408k▲ +149% vs 2023
Operating result€27k-€19k▼ 30.4%€12k▼ 36.2%€-3k€19k
2020: €27khighest in 5 years
2021: €19k▼ -30.4% vs 2020
2022: €12k▼ -36.2% vs 2021
2023: €-3k▼ -124% vs 2022lowest in 5 years
2024: €19k▲ +772% vs 2023
Net result€4k-€5k▲ 30.5%€150k▲ 3,084%€-17k€-9k▲ 50.4%
2020: €4k
2021: €5k▲ +30.5% vs 2020
2022: €150k▲ +3084% vs 2021highest in 5 years
2023: €-17k▼ -112% vs 2022lowest in 5 years
2024: €-9k▲ +50.4% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €19k after a loss of €3k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.07M
Fixed assets
€776k ▼ 1.7%
Current assets
€291k ▼ 2.7%
Equity and liabilities €1.07M
Equity
€408k ▲ 149%
Provisions
€35k ▼ 5.4%
Debt
€624k ▼ 29.7%
Debt's share of the balance-sheet total falls from 81.6% to 58.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€78k▲
2023 · €53k
Cash flow
€50k▲
2023 · €38k
Current ratio
1.04▲
2023 · 0.52
Debt to equity
1.53▼
2023 · 5.42
ROE
-2.1%▲
2023 · -10.6%
ROA
-0.8%▲
2023 · -1.6%
Interest coverage
2.37▼
2023 · 2.38
Debt ≤ 1 year
€281k▼
2023 · €574k
Debt > 1 year
€344k▲
2023 · €314k
Income taxes
€3k▲
2023 · €29
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 · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.09M€1.07M▼
Fixed assets21/28€789k€776k▼
Intangible fixed assets21€134k€119k▼
Tangible fixed assets22/27€655k€656k▲
Land and buildings22€650k€627k▼
Plant, machinery and equipment23€550€412▼
Furniture and vehicles24€4k€29k▲
Current assets29/58€300k€291k▼
Amounts receivable after more than one year29€225k€225k=
Trade receivables290€225k€225k=
Amounts receivable within one year40/41€63k€62k▼
Trade receivables40€51k€51k=
Other amounts receivable41€12k€11k▼
Cash at bank and in hand54/58€1k€4k▲
Deferred charges and accrued income490/1€10k-
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.07M▼
Equity10/15€164k€408k▲
Contributions10/11-€250k
Reserves13€156k€150k▼
Tax-exempt reserves132€148k€140k▼
Distributable reserves133€8k€11k▲
Profit (loss) carried forward14€8k€7k▼
Provisions and deferred taxes16€37k€35k▼
Deferred taxes168€37k€35k▼
Amounts payable17/49€888k€624k▼
Amounts payable after more than one year17€314k€344k▲
Financial debts170/4€314k€344k▲
Amounts payable within one year42/48€574k€281k▼
Current portion of amounts payable after more than one year42€23k€41k▲
Financial debts43€27k€24k▼
Credit institutions430/8€27k€24k▼
Trade debts44€9k€7k▼
Suppliers440/4€9k€7k▼
Taxes, remuneration and social security45€17k€20k▲
Taxes450/3€17k€20k▲
Other amounts payable47/48€499k€189k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€56k€59k▲
Other operating charges640/8€4k€7k▲
Gross operating margin9900€57k€85k▲
Operating profit (loss)9901€-3k€19k▲
Financial income75/76B€6k€6k▲
Recurring financial income75€6k€6k▲
Financial charges65/66B€22k€33k▲
Recurring financial charges65€22k€33k▲
Profit (loss) for the period before taxes9903€-19k€-7k▲
Transfer from deferred taxes780€1k€2k▲
Income taxes67/77€29€3k▲
Profit (loss) for the period9904€-17k€-9k▲
Transfer from tax-exempt reserves789€4k€8k▲
Profit (loss) for the period to be appropriated9905€-13k€-734▲
Appropriation of the result
Profit (loss) to be appropriated9906€8k€7k▼
Profit (loss) brought forward from the previous period14P€21k€8k▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €190k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36k | €37k | €36k | €56k | €59k | ▲ 5.4% |
| Other operating charges640/8 | - | €4k | €4k | €4k | €7k | ▲ 61.7% |
| Gross operating margin9900 | €66k | €60k | €52k | €57k | €85k | ▲ 48.7% |
| Operating profit (loss)9901 | €27k | €19k | €12k | €-3k | €19k | ▲ 772% |
| Financial income75/76B | - | €9k | €194k | €6k | €6k | ▲ 0.4% |
| Recurring financial income75 | €3k | €9k | €4k | €6k | €6k | ▲ 0.4% |
| Non-recurring financial income76B | - | - | €190k | - | - | - |
| Financial charges65/66B | - | €20k | €18k | €22k | €33k | ▲ 48.7% |
| Recurring financial charges65 | €25k | €20k | €18k | €22k | €33k | ▲ 48.7% |
| Profit (loss) for the period before taxes9903 | €5k | €8k | €188k | €-19k | €-7k | ▲ 61.4% |
| Transfer from deferred taxes780 | - | - | - | €1k | €2k | ▲ 76.1% |
| Transfer to deferred taxes680 | - | - | €38k | - | - | - |
| Income taxes67/77 | €2k | €3k | - | €29 | €3k | ▲ 11,872% |
| Profit (loss) for the period9904 | €4k | €5k | €150k | €-17k | €-9k | ▲ 50.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €4k | €8k | ▲ 76.0% |
| Transfer to tax-exempt reserves689 | - | - | €152k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €4k | €5k | €-2k | €-13k | €-734 | ▲ 94.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €861k | €739k | €920k | €1.09M | €1.07M | ▼ 2.0% |
| Fixed assets21/28 | €626k | €589k | €678k | €789k | €776k | ▼ 1.7% |
| Intangible fixed assets21 | - | - | - | €134k | €119k | ▼ 11.1% |
| Tangible fixed assets22/27 | €626k | €589k | €528k | €655k | €656k | ▲ 0.2% |
| Land and buildings22 | - | €582k | €520k | €650k | €627k | ▼ 3.6% |
| Plant, machinery and equipment23 | - | €3k | - | €550 | €412 | ▼ 25.1% |
| Furniture and vehicles24 | - | €5k | €8k | €4k | €29k | ▲ 549% |
| Financial fixed assets28 | - | - | €150k | - | - | - |
| Current assets29/58 | €234k | €150k | €242k | €300k | €291k | ▼ 2.7% |
| Amounts receivable after more than one year29 | - | - | €225k | €225k | €225k | = |
| Trade receivables290 | - | - | €225k | €225k | €225k | = |
| Amounts receivable within one year40/41 | €232k | €27k | €13k | €63k | €62k | ▼ 0.9% |
| Trade receivables40 | - | €16k | €2k | €51k | €51k | = |
| Other amounts receivable41 | - | €11k | €12k | €12k | €11k | ▼ 4.8% |
| Cash at bank and in hand54/58 | €8 | €123k | €145 | €1k | €4k | ▲ 183% |
| Deferred charges and accrued income490/1 | - | - | €4k | €10k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €861k | €739k | €920k | €1.09M | €1.07M | ▼ 2.0% |
| Equity10/15 | €279k | €284k | €434k | €164k | €408k | ▲ 149% |
| Contributions10/11 | €250k | €250k | €250k | - | €250k | - |
| Capital10 | - | €250k | €250k | - | - | - |
| Issued capital100 | - | €250k | €250k | - | - | - |
| Reserves13 | €6k | €11k | €163k | €156k | €150k | ▼ 3.4% |
| Non-distributable reserves130/1 | - | €3k | €3k | - | - | - |
| Legal reserve130 | - | €3k | €3k | - | - | - |
| Tax-exempt reserves132 | - | - | €152k | €148k | €140k | ▼ 5.4% |
| Distributable reserves133 | - | €8k | €8k | €8k | €11k | ▲ 32.0% |
| Profit (loss) carried forward14 | €23k | €23k | €21k | €8k | €7k | ▼ 9.1% |
| Provisions and deferred taxes16 | - | - | €38k | €37k | €35k | ▼ 5.4% |
| Deferred taxes168 | - | - | €38k | €37k | €35k | ▼ 5.4% |
| Amounts payable17/49 | €581k | €455k | €449k | €888k | €624k | ▼ 29.7% |
| Amounts payable after more than one year17 | €248k | €207k | €176k | €314k | €344k | ▲ 9.6% |
| Financial debts170/4 | - | €207k | €176k | €314k | €344k | ▲ 9.6% |
| Amounts payable within one year42/48 | €333k | €248k | €273k | €574k | €281k | ▼ 51.2% |
| Current portion of amounts payable after more than one year42 | - | €40k | €29k | €23k | €41k | ▲ 82.1% |
| Financial debts43 | - | - | €5k | €27k | €24k | ▼ 11.5% |
| Credit institutions430/8 | - | - | €5k | €27k | €24k | ▼ 11.5% |
| Trade debts44 | €653 | €535 | €1k | €9k | €7k | ▼ 22.8% |
| Suppliers440/4 | - | €535 | €1k | €9k | €7k | ▼ 22.8% |
| Taxes, remuneration and social security45 | - | €8k | €6k | €17k | €20k | ▲ 14.8% |
| Taxes450/3 | - | €8k | €6k | €17k | €20k | ▲ 14.8% |
| Other amounts payable47/48 | - | €199k | €232k | €499k | €189k | ▼ 62.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €5k | €150k | €-17k | €-9k | ▲ 50.4% |
| + Depreciation and write-downs630 | €36k | €37k | €36k | €56k | €59k | ▲ 5.4% |
| Operating cash flow (approximation) | €40k | €42k | €185k | €38k | €50k | ▲ 30.9% |
| Investment in fixed assets (approximation) | - | €0 | €-125k | €-167k | €-45k | ▲ 73.0% |
| Change in cash | - | €123k | €-123k | €1k | €3k | ▲ 103% |
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
2026
05-08
State Gazette act
Incorporation · Founder
Founding capital · Bank account
2025
02-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 2 days late
2024
31-12
Financial
Equity above €200kEq €408k ▲149%
Equity rises from €164k to €408k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
11-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 11 days late
2022
31-12
Financial
Highest result since 2018net €150k ▲3,084%
Net result €150k, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2020
01-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 123 days late
2019
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
26-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 118 days late
Show earlier events
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 61 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Knokke-Heist · 1 establishment unit since 1993
Ground area
272 m²
Building footprint
272 m²
Volume, LiDAR
2,165 m³
Parcel 31008I0681/00A000, Flanders · tallest building 13.5 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
BEL-INVEST
since 19932.061.282.662
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31008I0681/00A000 | Flanders | 272 m² | 1 · 272 m² | 13.4 m · 3 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 30 EUR awarded · 30 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 30 EUR |
| 2024 | 1 | 30 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 36,246 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-11-1992
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.