BELGEST
ActiveSummary
BELGEST has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,255 and a net result of -€380. Equity is shrinking by about 3% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.8% (low).
Financials · financial year 2025, micro format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€380▼ 444%
2024 · -€70
Working capital
€16,172▼ 4.6%
2024 · €16,952
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €214 in 2025 against €64 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€214
2025
Net result-€380
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€102,430
2025
Equity€18,255
2025
Debt€84,175
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€16,172
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
Line20182019202020212022202320242025
Operating result€161-€569▲ 253%€130▼ 77.2%-€3,930-€232▲ 94.1%-€64▲ 72.6%-€64▼ 0.3%-€214▼ 235%
Net result€134-€513▲ 283%€91▼ 82.3%-€3,970-€298▲ 92.5%-€112▲ 62.5%-€70▲ 37.4%-€380▼ 444%
Equity€22,481-€22,994▲ 2.3%€23,085▲ 0.4%€19,115▼ 17.2%€18,817▼ 1.6%€18,705▼ 0.6%€18,635▼ 0.4%€18,255▼ 2.0%
Total assets€83,977-€89,967▲ 7.1%€98,119▲ 9.1%€96,579▼ 1.6%€101,662▲ 5.3%€102,464▲ 0.8%€102,393▼ 0.1%€102,430=
Debt€61,496-€66,973▲ 8.9%€75,034▲ 12.0%€77,464▲ 3.2%€82,845▲ 6.9%€83,759▲ 1.1%€83,758=€84,175▲ 0.5%
Working capital€20,307-€22,420▲ 10.4%€22,511▲ 0.4%€19,341▼ 14.1%€17,896▼ 7.5%€17,022▼ 4.9%€16,952▼ 0.4%€16,172▼ 4.6%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102,430
Fixed assets
€57,683 =
Current assets
€44,748 ▲ 0.1%
Equity and liabilities €102,430
Equity
€18,255 ▼ 2.0%
Debt
€84,175 ▲ 0.5%
Debt's share of the balance-sheet total rises from 81.8% to 82.2%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.57▼
2024 · 1.61
Debt to equity
4.61▲
2024 · 4.49
ROE
-2.1%▼
2024 · -0.4%
ROA
-0.4%▼
2024 · -0.1%
Debt ≤ 1 year
€28,575▲
2024 · €27,758
Debt > 1 year
€55,600▼
2024 · €56,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Gross operating margin9900 | €161 | €569 | €130 | -€3,930 | -€232 | -€64 | -€64 | -€214 | ▼ 235% |
| Operating profit (loss)9901 | €161 | €569 | €130 | -€3,930 | -€232 | -€64 | -€64 | -€214 | ▼ 235% |
| Financial charges65/66B | - | - | - | €40 | €66 | €48 | €6 | €167 | ▲ 28× |
| Recurring financial charges65 | €27 | €56 | €39 | €40 | €66 | €48 | €6 | €167 | ▲ 28× |
| Profit (loss) for the period before taxes9903 | €134 | €513 | €91 | -€3,970 | -€298 | -€112 | -€70 | -€380 | ▼ 444% |
| Profit (loss) for the period9904 | €134 | €513 | €91 | -€3,970 | -€298 | -€112 | -€70 | -€380 | ▼ 444% |
| Profit (loss) for the period to be appropriated9905 | €134 | €513 | €91 | -€3,970 | -€298 | -€112 | -€70 | -€380 | ▼ 444% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €83,977 | €89,967 | €98,119 | €96,579 | €101,662 | €102,464 | €102,393 | €102,430 | = |
| Fixed assets21/28 | €52,174 | €50,574 | €50,574 | €49,774 | €56,921 | €57,683 | €57,683 | €57,683 | = |
| Financial fixed assets28 | €52,174 | €50,574 | €50,574 | €49,774 | €56,921 | €57,683 | €57,683 | €57,683 | = |
| Current assets29/58 | €31,803 | €39,393 | €47,545 | €46,805 | €44,741 | €44,781 | €44,710 | €44,748 | ▲ 0.1% |
| Amounts receivable after more than one year29 | - | - | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Other amounts receivable291 | - | - | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Amounts receivable within one year40/41 | - | - | €2,100 | €2,100 | €0 | €0 | €0 | €0 | - |
| Trade receivables40 | - | - | - | €2,100 | €0 | €0 | €0 | €0 | - |
| Cash at bank and in hand54/58 | €4 | €94 | €746 | €6 | €42 | €82 | €11 | €49 | ▲ 348% |
| Deferred charges and accrued income490/1 | - | - | - | €24,699 | €24,699 | €24,699 | €24,699 | €24,699 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €83,977 | €89,967 | €98,119 | €96,579 | €101,662 | €102,464 | €102,393 | €102,430 | = |
| Equity10/15 | €22,481 | €22,994 | €23,085 | €19,115 | €18,817 | €18,705 | €18,635 | €18,255 | ▼ 2.0% |
| Contributions10/11 | €26,500 | €26,500 | €26,500 | €26,500 | €26,500 | €26,500 | €26,500 | €26,500 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€6,019 | -€5,506 | -€5,415 | -€9,385 | -€9,683 | -€9,795 | -€9,865 | -€10,245 | ▼ 3.9% |
| Amounts payable17/49 | €61,496 | €66,973 | €75,034 | €77,464 | €82,845 | €83,759 | €83,758 | €84,175 | ▲ 0.5% |
| Amounts payable after more than one year17 | €50,000 | €50,000 | €50,000 | €50,000 | €56,000 | €56,000 | €56,000 | €55,600 | ▼ 0.7% |
| Other amounts payable178/9 | - | - | - | €50,000 | €56,000 | €56,000 | €56,000 | €55,600 | ▼ 0.7% |
| Amounts payable within one year42/48 | €11,496 | €16,973 | €25,034 | €27,464 | €26,845 | €27,759 | €27,758 | €28,575 | ▲ 2.9% |
| Trade debts44 | €1,999 | €2,577 | €2,737 | €2,737 | €765 | €829 | €654 | €914 | ▲ 39.7% |
| Suppliers440/4 | - | - | - | €2,737 | €765 | €829 | €654 | €914 | ▲ 39.7% |
| Other amounts payable47/48 | - | - | - | €24,727 | €26,080 | €26,930 | €27,104 | €27,662 | ▲ 2.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €134 | €513 | €91 | -€3,970 | -€298 | -€112 | -€70 | -€380 | ▼ 444% |
| Operating cash flow (approximation) | €134 | €513 | €91 | -€3,970 | -€298 | -€112 | -€70 | -€380 | ▼ 444% |
| Investment in fixed assets (approximation) | - | €1,600 | €0 | €800 | -€7,147 | -€762 | €0 | €0 | - |
| Change in cash | - | €90 | €652 | -€740 | €36 | €40 | -€72 | €38 | - |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00316162 |
| 31-12-2024 | unclassified schema | 16-09-2025 | 2025-00497226 |
| 31-12-2023 | unclassified schema | 27-08-2024 | 2024-00374418 |
| 31-12-2022 | unclassified schema | 18-08-2023 | 2023-00334573 |
| 31-12-2021 | unclassified schema | 03-06-2022 | 2022-20044860 |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-69200037 |
| 31-12-2019 | abbreviated format | 26-08-2020 | 2020-44400458 |
| 31-12-2018 | abbreviated format | 28-08-2019 | 2019-51900028 |
| 31-12-2017 | abbreviated format | 20-07-2018 | 2018-34900589 |
| 31-12-2016 | abbreviated format | 25-08-2017 | 2017-47100148 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.