BELFOOD

Active

Private limited companyfounded 20197 yrs activeElsense Steenweg 23, 1050 Elsene, BelgiumKBO/BCE: BE 0734.403.628

The computed 12-month bankruptcy probability of BELFOOD is 7.8% (elevated). The 2024 annual accounts show equity of €130k and a net result of €-51k. Equity is growing by ~52.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 18940 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

28 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability5▼-87

Solvency52▼-14

Growth52▼-26

Track record100

Bankruptcy probability, 12 months

7.8% Elevated

0%0.5%1.5%4%10%≥ 25%

Credit up to €3.5k at 30 days only on tighter terms

Liquidity tight (current ratio 1.1 against 1.29 in 2023; short-term debt: 61.7% and cash: 6.4% of total assets), and 72.9% 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

Six signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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

27.1%

Return on assets

-10.7%

Age of the figures

21 mo

A punctual record breaks

This company filed 4 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

NBB · 5 filings

Deviation from the deadline

2025

not confirmed

2024

61 d late

2023

on the day

2022

7 d early

2021

4 d early

2020

37 d early

← 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, micro schema

Equity

€130k▼ 28.2%

2023 · €181k

2020: €-23k 2021: €57k 2022: €99k 2023: €181k

2020 → 2024

Total assets

€480k▲ 8.1%

2023 · €444k

2020: €351k 2021: €306k 2022: €302k 2023: €444k

2020 → 2024

Net result

€-51k

2023 · €82k

2020: €-25k 2021: €79k 2022: €43k 2023: €82k

2020 → 2024

Working capital

€29k▼ 47.7%

2023 · €55k

2020: €-253k 2021: €-216k 2022: €-139k 2023: €55k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-23k-€57k€99k▲ 75.0%€181k▲ 82.3%€130k▼ 28.2%

Operating result€-27k-€90k€57k▼ 36.5%€108k▲ 88.6%€-56k

Net result€-25k-€79k€43k▼ 46.4%€82k▲ 92.1%€-51k

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

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €56k after €108k in 2023, the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €480k

32.4%

67.6%

Fixed assets €155k▼ 21.6%

Current assets €324k▲ 32.0%

Equity and liabilities €480k

27.1%

72.9%

Equity €130k▼ 28.2%

Debt €350k▲ 33.1%

The debt ratio rises from 59.2% to 72.9%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-5k▼

2023 · €149k

Cash flow

€-762▼

2023 · €122k

Solvency

27.1%▼

2023 · 40.8%

Current ratio

1.10▼

2023 · 1.29

Quick ratio

1.07▼

2023 · 1.25

Debt / equity

2.69▲

2023 · 1.45

ROE

-39.3%▼

2023 · 45.1%

ROA

-10.7%▼

2023 · 18.4%

Interest coverage

-0.54▼

2023 · 19.66

Debt

€350k▲

2023 · €263k

Debt ≤ 1 year

€296k▲

2023 · €191k

Debt > 1 year

€54k▼

2023 · €72k

Staff costs

€163k▼

2023 · €277k

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€444k€480k▲

Fixed assets21/28€198k€155k▼

Tangible fixed assets22/27€191k€148k▼

Plant, machinery and equipment23€9k€5k▼

Furniture and vehicles24€32k€17k▼

Leasing and similar rights25€38k€24k▼

Other tangible fixed assets26€112k€103k▼

Financial fixed assets28€7k€7k=

Current assets29/58€246k€324k▲

Stocks and contracts in progress3€7k€7k▼

Stocks30/36€7k€7k▼

Amounts receivable within one year40/41€195k€287k▲

Trade receivables40-€3k

Other amounts receivable41€195k€284k▲

Cash at bank and in hand54/58€44k€31k▼

Equity and liabilities

Total equity and liabilities10/49€444k€480k▲

Equity10/15€181k€130k▼

Contributions10/11€2k€2k=

Profit (loss) carried forward14€179k€128k▼

Amounts payable17/49€263k€350k▲

Amounts payable after more than one year17€72k€54k▼

Financial debts170/4€72k€54k▼

Amounts payable within one year42/48€191k€296k▲

Current portion of amounts payable after more than one year42€26k€53k▲

Trade debts44€38k€176k▲

Suppliers440/4€38k€176k▲

Taxes, remuneration and social security45€87k€66k▼

Taxes450/3€49k€38k▼

Remuneration and social security454/9€37k€28k▼

Other amounts payable47/48€40k-

Income statement Code20232024

Remuneration, social security and pensions62€277k€163k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€50k▲

Other operating charges640/8€2k€9k▲

Gross operating margin9900€427k€167k▼

Operating profit (loss)9901€108k€-56k▼

Financial income75/76B€7k€14k▲

Recurring financial income75€7k€14k▲

Financial charges65/66B€8k€10k▲

Recurring financial charges65€8k€10k▲

Profit (loss) for the period before taxes9903€107k€-51k▼

Income taxes67/77€25k-

Profit (loss) for the period9904€82k€-51k▼

Profit (loss) for the period to be appropriated9905€82k€-51k▼

Appropriation of the result

Profit (loss) to be appropriated9906€179k€128k▼

Profit (loss) brought forward from the previous period14P€97k€179k▲

The notes to these accounts (7 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 10Financial 5Filings 5

2025

30-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 61 days late

2024

31-12

Financial Weakest financial yearnet €-51k ▼163%

Net result drops to €-51k, the lowest in the series.

31-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Highest result since 2020net €82k ▲92.1%

Operating result €108k, net result €82k, both a record.

31-12

Financial Liquidity quadruplescurrent ratio 1.29

Current ratio from 0.31 to 1.29; short-term debt falls from €203k to €191k.

31-12

Financial Equity above €150kEq €181k ▲82.3%

3 profitable years in a row build equity to €181k.

24-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

27-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Back to profitnet €79k

Net result €79k after one loss-making year.

24-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

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 2025

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.

17-09-2025 KAYNAK Sevgi: Resigned as Director

17-03-2025 YIGIT Orhan: Resigned as Director

07-12-2021 YAGLI Ismail: Resigned as Director

Location & real-estate footprint

Registered office, Elsene · 1 establishment unit since 2019

establishment The establishment unit on the map

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.

Elsense Steenweg 231050 Elsene

Ground area

183 m²

Building footprint