BELFRA
ActiveSummary
BELFRA has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€40,870) and a net result of €46,055. Equity is shrinking by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 11% of 9525 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability90▼-2
Solvency10▲+9
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.06 against 0.86 in 2023; short-term debt: 78.9% and cash: 47.1% of total assets), and equity is negative.
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Signals
Five 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
-15.3%
Return on assets
17.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 9525 sector peers (2024).
NBB · sector comparisonPosition among 9525 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-10-2025, 69 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
69 d late
2023
92 d late
2022
32 d early
2021
32 d early
2020
31 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€40,870▲ 53.0%
2023 · -€86,925
Total assets
€267,621▼ 27.6%
2023 · €369,878
Net result
€46,055▼ 32.6%
2023 · €68,299
Working capital
€11,957
2023 · -€48,876
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€39,549▼ 26.3%-€17,274▲ 56.3%-€29,503▼ 70.8%€69,076€48,427▼ 29.9%
Net result-€40,013below the sector's middle half▼ 25.3%-€17,713below the sector's middle half▲ 55.7%-€30,013below the sector's middle half▼ 69.4%€68,299above the sector's middle half€46,055above the sector's middle half▼ 32.6%
Equity-€107,362below the sector's middle half▼ 59.4%-€125,211below the sector's middle half▼ 16.6%-€155,224below the sector's middle half▼ 24.0%-€86,925below the sector's middle half▲ 44.0%-€40,870below the sector's middle half▲ 53.0%
Total assets€198,197within the sector's middle half▼ 7.6%€207,105within the sector's middle half▲ 4.5%€207,348within the sector's middle half▲ 0.1%€369,878within the sector's middle half▲ 78.4%€267,621within the sector's middle half▼ 27.6%
Debt€305,559▲ 8.4%€332,316▲ 8.8%€362,572▲ 9.1%€456,803▲ 26.0%€308,491▼ 32.5%
Working capital-€11,173within the sector's middle half-€28,674below the sector's middle half▼ 157%-€122,624below the sector's middle half▼ 328%-€48,876below the sector's middle half▲ 60.1%€11,957within the sector's middle half
Solvency-54.2%below the sector's middle half▼ 22.8pp-60.5%below the sector's middle half▼ 6.3pp-74.9%below the sector's middle half▼ 14.4pp-23.5%below the sector's middle half▲ 51.4pp-15.3%below the sector's middle half▲ 8.2pp
Current ratio0.95within the sector's middle half▼ 0.220.88within the sector's middle half▼ 0.070.54below the sector's middle half▼ 0.340.86below the sector's middle half▲ 0.331.06within the sector's middle half▲ 0.19
Return on assets (ROA)-20.2%below the sector's middle half▼ 5.3pp-8.6%below the sector's middle half▲ 11.6pp-14.5%below the sector's middle half▼ 5.9pp18.5%within the sector's middle half▲ 32.9pp17.2%within the sector's middle half▼ 1.3pp
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 30% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €267,621
Fixed assets
€44,388 ▼ 25.0%
Current assets
€223,233 ▼ 28.2%
Key figures and ratios
EBITDA
€63,205▼
2023 · €78,466
Cash flow
€60,834▼
2023 · €77,689
Debt to equity
-7.55▼
2023 · -5.26
Interest coverage
263.27▲
2023 · 147.68
Debt ≤ 1 year
€211,276▼
2023 · €359,588
Debt > 1 year
€97,215=
2023 · €97,215
Income taxes
€2,131▲
2023 · €246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17 | €348 | €1,537 | €9,390 | €14,778 | ▲ 57.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €9,909 | - | - | - |
| Other operating charges640/8 | - | €1,146 | €977 | €919 | €1,063 | ▲ 15.6% |
| Non-recurring operating charges66A | - | - | - | - | €11,205 | - |
| Gross operating margin9900 | -€38,790 | -€15,781 | -€17,080 | €79,385 | €75,473 | ▼ 4.9% |
| Operating profit (loss)9901 | -€39,549 | -€17,274 | -€29,503 | €69,076 | €48,427 | ▼ 29.9% |
| Financial income75/76B | - | €0 | €1 | - | - | - |
| Recurring financial income75 | €0 | €0 | €1 | - | - | - |
| Financial charges65/66B | - | €141 | €154 | €531 | €240 | ▼ 54.8% |
| Recurring financial charges65 | €185 | €141 | €154 | €531 | €240 | ▼ 54.8% |
| Profit (loss) for the period before taxes9903 | -€39,734 | -€17,415 | -€29,656 | €68,544 | €48,187 | ▼ 29.7% |
| Income taxes67/77 | €279 | €299 | €357 | €246 | €2,131 | ▲ 767% |
| Profit (loss) for the period9904 | -€40,013 | -€17,713 | -€30,013 | €68,299 | €46,055 | ▼ 32.6% |
| Profit (loss) for the period to be appropriated9905 | -€40,013 | -€17,713 | -€30,013 | €68,299 | €46,055 | ▼ 32.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €198,197 | €207,105 | €207,348 | €369,878 | €267,621 | ▼ 27.6% |
| Fixed assets21/28 | €1,026 | €678 | €64,615 | €59,166 | €44,388 | ▼ 25.0% |
| Tangible fixed assets22/27 | €1,026 | €678 | €64,615 | €59,166 | €44,388 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | - | €1,581 | €1,251 | €920 | ▼ 26.4% |
| Furniture and vehicles24 | - | €678 | €63,034 | €57,915 | €43,467 | ▼ 24.9% |
| Current assets29/58 | €197,171 | €206,427 | €142,733 | €310,712 | €223,233 | ▼ 28.2% |
| Amounts receivable within one year40/41 | €11,048 | €10,614 | €21,403 | €66,752 | €40 | ▼ 99.9% |
| Trade receivables40 | - | €9,909 | €17,038 | €66,014 | - | - |
| Other amounts receivable41 | - | €705 | €4,365 | €737 | €40 | ▼ 94.6% |
| Current investments50/53 | €97,215 | €97,215 | €97,215 | €97,215 | €97,215 | = |
| Cash at bank and in hand54/58 | €88,456 | €97,859 | €23,566 | €145,920 | €125,978 | ▼ 13.7% |
| Deferred charges and accrued income490/1 | - | €738 | €549 | €826 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €198,197 | €207,105 | €207,348 | €369,878 | €267,621 | ▼ 27.6% |
| Equity10/15 | -€107,362 | -€125,211 | -€155,224 | -€86,925 | -€40,870 | ▲ 53.0% |
| Contributions10/11 | - | €12,399 | €12,399 | €12,399 | €12,399 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€121,620 | -€139,469 | -€169,483 | -€101,184 | -€55,129 | ▲ 45.5% |
| Amounts payable17/49 | €305,559 | €332,316 | €362,572 | €456,803 | €308,491 | ▼ 32.5% |
| Amounts payable after more than one year17 | €97,215 | €97,215 | €97,215 | €97,215 | €97,215 | = |
| Financial debts170/4 | - | €97,215 | €97,215 | €97,215 | €97,215 | = |
| Amounts payable within one year42/48 | €208,344 | €235,101 | €265,357 | €359,588 | €211,276 | ▼ 41.2% |
| Trade debts44 | €2,130 | €192 | €469 | €64,665 | €1,221 | ▼ 98.1% |
| Suppliers440/4 | - | €192 | €469 | €64,665 | €1,221 | ▼ 98.1% |
| Taxes, remuneration and social security45 | - | €299 | €357 | €8,502 | €12,556 | ▲ 47.7% |
| Taxes450/3 | - | €299 | €357 | €8,502 | €12,556 | ▲ 47.7% |
| Other amounts payable47/48 | - | €234,610 | €264,531 | €286,422 | €197,498 | ▼ 31.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€40,013 | -€17,713 | -€30,013 | €68,299 | €46,055 | ▼ 32.6% |
| + Depreciation and write-downs630 | €17 | €348 | €1,537 | €9,390 | €14,778 | ▲ 57.4% |
| Operating cash flow (approximation) | -€39,995 | -€17,366 | -€28,476 | €77,689 | €60,834 | ▼ 21.7% |
| Investment in fixed assets (approximation) | - | €0 | -€65,474 | -€3,941 | €0 | ▲ 100% |
| Change in cash | - | €9,403 | -€74,293 | €122,354 | -€19,942 | ▼ 116% |
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
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
31-12
Financial
Back to profitnet €68,299
Net result €68,299 after 4 loss-making years.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€40,013
Net result drops to -€40,013, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
18-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Schilde · 1 establishment unit since 1997
Ground area
2,080 m²
Building footprint
208 m²
Volume, LiDAR
980 m³
Parcel 11039A0440/00W002, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BELFRA/DILATO
since 19972.081.675.527
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11039A0440/00W002 | Flanders | 2,080 m² | 1 · 208 m² | 7.1 m · 2 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
2022 · 1 entry · 255 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 255 EUR | 0 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,518 companies in sector 82990 we hold annual accounts for 9,421. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded13-11-1996
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
46341Wholesale of wines and spirits
E-invoicing
Reachable via Peppol
Peppol ID
0208:0459202948
Also
9925:BE0459202948
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.