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 has been growing by about 11% per year since 2019. The computed 12-month bankruptcy probability is 0.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 10-10-2008 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.174.160.275 8930 Menen, since 10-10-2008
- Financial year end
- 30 September
- Peppol
- Reachable since 02-10-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts to 30-09-2025
- Gross margin
- -€1,618
- ▲ 11.5%
- Profit
- €4,396
- ▲ 3.3%
- Equity
- €39,401
- ▲ 12.6%
- Total assets
- €1.1m
- ▲ 5.3%
Turnover not published (abbreviated format)
Score breakdownraises riskLiquidity: current ratio 0.17, cash €524, halvedEquity €39,401 (3.7% of total assets)Figures for financial year 2025 (filed on 14-04-2026)lowers riskSize: total assets €1.1mShow the evidence
Checked score
Score 2025
80
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 39% of micro companies without a NACE code
Financial strength · tick: 2024
Weak
Solvency
29+1
equity 3.7% of total assets
Liquidity
50=
short-term debt 0.3% · cash 0.0%
Profitability
39=
return on assets 0.4%
Bankruptcy probability within 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%
01-2025: 0.4%▼ -0.1 percentage points vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.6%▲ +0.2 percentage points vs 03-2025highest value
05-2025: 0.2%▼ -0.4 percentage points vs 04-2025lowest value
06-2025: 0.3%▲ +0.1 percentage points vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.4%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%▲ +0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Credit of up to €3,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.17 (1.05 in 2024), below 1. Short-term debt is 0.3% and cash 0% of total assets. 96.3% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 19% of them on solvency, 39% on liquidity, 30% on profitability and 70% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 14-04-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 days early
2024
29 days early
2023
6 days early
2022
1 day early
2021
40 days early
2020
1 day early
2019
10 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 15 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 14 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end03-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 14-04-2026 PDF all 16 filings
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
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€2,564
▲ 8.7%
2025
20192025
Net result
€4,396
▲ 3.3%
2025
20192025
Equity
€39,401
▲ 12.6%
2025
20192025
Total assets
€1.1m
▲ 5.3%
2025
20192025
Debt
€1.0m
▲ 5.0%
2025
20192025
Working capital
-€2,511
2025
20192025
Every figure per financial 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▲ 13×€52▼ 98.6%€0.003m▲ 61×€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
The operating result for 2025 is a loss of €2,564, smaller than the loss of €2,807 in 2024.
Turnover and EBIT margin are 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.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Financial fixed assets | €8,881 | €9,023 | €256,127 | €56,029 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
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 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 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 |
Board & ownership
Directors
Directors
1 director
Debaeke Ivan
Current
Director · listed in the 2025 annual accounts, filed on 14-04-2026
Owners and capital
Owners
Network & group
BELFRAN shares no director with another company.
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of BELFRAN. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
14-04
abbreviated format · 16 days before the deadline
2025
30-09
Financial
Highest result from 2019 to 2025net €4,396 ▲3.3%
The operating result of -€2,564 and the net result of €4,396 are both a record.
01-04
abbreviated format · 29 days before the deadline
2024
30-09
Financial
Liquidity more than quadruplescurrent ratio 1.05
The current ratio rises from 0.21 to 1.05.
24-04
abbreviated format · 6 days before the deadline
2023
29-04
abbreviated format · 1 day before the deadline
2022
21-03
abbreviated format · 40 days before the deadline
2021
30-09
Financial
Weakest financial yearnet €52 ▼98.6%
The net result drops to €52, the lowest from 2019 to 2025. It recovers the following year.
29-04
abbreviated format · 1 day before the deadline
2020
20-04
abbreviated format · 10 days before the deadline
2019
28-03
abbreviated format · 33 days before the deadline
2018
20-03
abbreviated format · 41 days before the deadline
2017
31-03
abbreviated format · 30 days before the deadline
2008
28-10
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
BELFRAN in Dutch
Enterprise number
0807.215.192
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
10-10-2008
Entity type
Legal entity
Registered office and establishments
Registered office
Guido Gezellelaan 60, 8930 Menen, Belgium
Establishment unit
BELFRAN, Guido Gezellelaan 60, 8930 Menen since 10-10-2008 · unit number 2.174.160.27501420 Raising of other cattle and buffaloes
Invoicing and payment
VAT number
BE 0807.215.192
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Sites & property
Location
Buildings and parcels at the address
Ground area
832 m²
Building footprint
396 m²
Building volume
1,945 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34372A0324/00N002 | Flanders | 832 m² | 1 · 396 m² | 9.8 m · 1 |