BELFRAN
ActiveSummary
BELFRAN has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39,401 and a net result of €4,396. Equity is growing by about 11% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.5% (low).
Financials · financial year 2025, abbreviated format
Equity
€39,401▲ 12.6%
2024 · €35,005
Total assets
€1.1m▲ 5.3%
2024 · €1.0m
Net result
€4,396▲ 3.3%
2024 · €4,255
Working capital
-€2,511
2024 · €143
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €2,564 in 2025 against €2,807 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.003m
2025
Net result€0.004m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.1m
2025
Equity€0.04m
2025
Debt€1.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.003m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.006m--€0.003m▲ 52.6%-€0.003m▲ 8.6%-€0.003m▼ 1.5%-€0.003m▼ 10.6%-€0.003m▲ 6.2%-€0.003m▲ 8.7%
Net result€277-€0.004m▲ 1,211%€52▼ 98.6%€0.003m▲ 5,983%€0.003m▼ 9.7%€0.004m▲ 49.9%€0.004m▲ 3.3%
Equity€0.02m-€0.02m▲ 17.2%€0.02m▲ 0.2%€0.03m▲ 12.7%€0.03m▲ 10.2%€0.04m▲ 13.8%€0.04m▲ 12.6%
Total assets€0.6m-€0.7m▲ 21.4%€0.7m▲ 6.0%€0.7m▲ 1.3%€0.8m▲ 1.1%€1.0m▲ 34.4%€1.1m▲ 5.3%
Debt€0.6m-€0.7m▲ 21.6%€0.7m▲ 6.2%€0.7m▲ 0.9%€0.7m▲ 0.7%€1.0m▲ 35.2%€1.0m▲ 5.0%
Working capital€0.01m-€0.03m▲ 117%€13▼ 100.0%-€0.001m-€0.002m▼ 160%€143-€0.003m
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.1m ▲ 5.6%
Current assets
€524 ▼ 83.2%
Equity and liabilities €1.1m
Equity
€39,401 ▲ 12.6%
Debt
€1.0m ▲ 5.0%
Debt's share of the balance-sheet total falls from 96.5% to 96.3%. Equity and debt are higher.
Key figures and ratios
Current ratio
0.17▼
2024 · 1.05
Debt to equity
26.04▼
2024 · 27.91
ROE
11.2%▼
2024 · 12.2%
ROA
0.4%▼
2024 · 0.4%
Debt ≤ 1 year
€3,034▲
2024 · €2,973
Debt > 1 year
€1.0m▲
2024 · €973,928
Income taxes
€1,604▲
2024 · €1,567
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €836 | €993 | €979 | €946 | ▼ 3.4% |
| Gross operating margin9900 | -€4,896 | -€2,046 | -€1,910 | -€1,871 | -€2,001 | -€1,828 | -€1,618 | ▲ 11.5% |
| Operating profit (loss)9901 | -€6,158 | -€2,917 | -€2,666 | -€2,708 | -€2,994 | -€2,807 | -€2,564 | ▲ 8.7% |
| Financial income75/76B | - | - | - | €8,881 | €9,023 | €11,127 | €13,585 | ▲ 22.1% |
| Recurring financial income75 | €6,491 | €6,878 | €8,268 | €8,881 | €9,023 | €11,127 | €13,585 | ▲ 22.1% |
| Financial charges65/66B | - | - | - | €2,014 | €2,029 | €2,498 | €5,022 | ▲ 101% |
| Recurring financial charges65 | €56 | €36 | €5,548 | €2,014 | €2,029 | €2,498 | €5,022 | ▲ 101% |
| Profit (loss) for the period before taxes9903 | €277 | €3,925 | €54 | €4,160 | €4,000 | €5,822 | €6,000 | ▲ 3.0% |
| Income taxes67/77 | - | €295 | €3 | €1,015 | €1,160 | €1,567 | €1,604 | ▲ 2.3% |
| Profit (loss) for the period9904 | €277 | €3,630 | €52 | €3,145 | €2,840 | €4,255 | €4,396 | ▲ 3.3% |
| Profit (loss) for the period to be appropriated9905 | €277 | €3,630 | €52 | €3,145 | €2,840 | €4,255 | €4,396 | ▲ 3.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €1.0m | €1.1m | ▲ 5.3% |
| Fixed assets21/28 | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €1.0m | €1.1m | ▲ 5.6% |
| Financial fixed assets28 | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €1.0m | €1.1m | ▲ 5.6% |
| Current assets29/58 | €0.01m | €0.03m | €0.001m | €0.002m | €0.001m | €0.003m | €0.001m | ▼ 83.2% |
| Cash at bank and in hand54/58 | €0.01m | €0.03m | €0.001m | €0.002m | €0.001m | €0.003m | €0.001m | ▼ 83.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €1.0m | €1.1m | ▲ 5.3% |
| Equity10/15 | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 12.6% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.001m | €0.003m | €0.003m | €0.006m | €0.009m | €0.01m | €0.02m | ▲ 34.4% |
| Amounts payable17/49 | €0.6m | €0.7m | €0.7m | €0.7m | €0.7m | €1.0m | €1.0m | ▲ 5.0% |
| Amounts payable after more than one year17 | €0.6m | €0.7m | €0.7m | €0.7m | €0.7m | €1.0m | €1.0m | ▲ 4.9% |
| Other amounts payable178/9 | - | - | - | €0.7m | €0.7m | €1.0m | €1.0m | ▲ 4.9% |
| Amounts payable within one year42/48 | €0.001m | €0.002m | €0.001m | €0.002m | €0.002m | €0.003m | €0.003m | ▲ 2.1% |
| Trade debts44 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 0.8% |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 0.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.001m | €0.002m | €0.002m | ▲ 3.2% |
| Taxes450/3 | - | - | - | €0.001m | €0.001m | €0.002m | €0.002m | ▲ 3.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.002m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €277 | €3,630 | €52 | €3,145 | €2,840 | €4,255 | €4,396 | ▲ 3.3% |
| Operating cash flow (approximation) | €277 | €3,630 | €52 | €3,145 | €2,840 | €4,255 | €4,396 | ▲ 3.3% |
| Investment in fixed assets (approximation) | - | -€107,510 | -€68,268 | -€8,881 | -€9,023 | -€256,127 | -€56,029 | ▲ 78.1% |
| Change in cash | - | €14,866 | -€26,933 | €590 | -€1,015 | €2,597 | -€2,592 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | abbreviated format | 14-04-2026 | 2026-00078782 |
| 30-09-2024 | abbreviated format | 01-04-2025 | 2025-00060975 |
| 30-09-2023 | abbreviated format | 24-04-2024 | 2024-00068577 |
| 30-09-2022 | abbreviated format | 29-04-2023 | 2023-00072805 |
| 30-09-2021 | abbreviated format | 21-03-2022 | 2022-08100038 |
| 30-09-2020 | abbreviated format | 29-04-2021 | 2021-11800581 |
| 30-09-2019 | abbreviated format | 20-04-2020 | 2020-09400425 |
| 30-09-2018 | abbreviated format | 28-03-2019 | 2019-08300043 |
| 30-09-2017 | abbreviated format | 20-03-2018 | 2018-07200378 |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-08400378 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.