Belgestate
InactiveInactive since 27-08-2026; last annual accounts for fiscal year 2025. Dissolved and wound up in a single deed; books and records kept by Olivier BROURHANT in Etterbeek (10 years).
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-75k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
18 d late
2023
27 d late
2022
4 d early
2021
4 d early
2020
75 d late
2019
91 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, full schema
Turnover
€37k▼ 60.8%
2021 · €94k
2019: €114khighest in 4 years
2020: €100k▼ -11.9% vs 2019
2021: €94k▼ -6.6% vs 2020
2022: €37k▼ -60.8% vs 2021lowest in 4 years
2019 → 2022
EBIT margin
470.0%▲ 441.9pp
2021 · 28.1%
2019: 10.5%lowest in 4 years
2020: 17.0%▲ +62.5% vs 2019
2021: 28.1%▲ +65.6% vs 2020
2022: 470.0%▲ +1571% vs 2021highest in 4 years
2019 → 2022
Net result
€-7k
2024 · €11k
2019: €-5k
2020: €-2k▲ +64.4% vs 2019
2021: €9k▲ +598% vs 2020
2022: €120k▲ +1236% vs 2021highest in 7 years
2023: €-55k▼ -146% vs 2022lowest in 7 years
2024: €11k▲ +119% vs 2023
2025: €-7k▼ -162% vs 2024
2019 → 2025
Working capital
€-75k▼ 9.6%
2024 · €-68k
2019: €-818
2020: €252k▲ +30958% vs 2019highest in 7 years
2021: €-4k▼ -101% vs 2020
2022: €-24k▼ -549% vs 2021
2023: €-79k▼ -223% vs 2022lowest in 7 years
2024: €-68k▲ +13.3% vs 2023
2025: €-75k▼ -9.6% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€94k-€37k▼ 60.8%
2021: €94k
2022: €37k▼ -60.8% vs 2021
Equity€-144k-€-24k▲ 83.0%€-79k▼ 223%€-68k▲ 13.3%€-75k▼ 9.6%
2021: €-144klowest in 5 years
2022: €-24k▲ +83.0% vs 2021highest in 5 years
2023: €-79k▼ -223% vs 2022
2024: €-68k▲ +13.3% vs 2023
2025: €-75k▼ -9.6% vs 2024
Operating result€26k-€172k▲ 555%€-12k€-14k▼ 18.5%€-1k▲ 89.8%
2021: €26k
2022: €172k▲ +555% vs 2021highest in 5 years
2023: €-12k▼ -107% vs 2022
2024: €-14k▼ -18.5% vs 2023lowest in 5 years
2025: €-1k▲ +89.8% vs 2024
Net result€9k-€120k▲ 1,236%€-55k€11k€-7k
2021: €9k
2022: €120k▲ +1236% vs 2021highest in 5 years
2023: €-55k▼ -146% vs 2022lowest in 5 years
2024: €11k▲ +119% vs 2023
2025: €-7k▼ -162% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2025 against €14k in 2024; the loss shrinks.
Key figures and ratios
Debt
€76k▲
2024 · €69k
Debt ≤ 1 year
€76k▲
2024 · €69k
Income taxes
€7
Ratios withheld: a balance sheet total of €1k is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€415€1k▲
Current assets29/58€415€1k▲
Amounts receivable within one year40/41€205€205=
Other amounts receivable41€205€205=
Cash at bank and in hand54/58€210€1k▲
Equity and liabilities
Total equity and liabilities10/49€415€1k▲
Equity10/15€-68k€-75k▼
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Profit (loss) carried forward14€-87k€-94k▼
Amounts payable17/49€69k€76k▲
Amounts payable within one year42/48€69k€76k▲
Trade debts44€4k€400▼
Suppliers440/4€4k€400▼
Other amounts payable47/48€65k€76k▲
Income statement
Code20242025
Operating charges60/66A€14k€1k▼
Services and other goods61€11k€610▼
Other operating charges640/8-€787
Non-recurring operating charges66A€2k-
Operating profit (loss)9901€-14k€-1k▲
Financial charges65/66B€-24k€5k▲
Recurring financial charges65€3k€5k▲
Debt charges650€3k€5k▲
Non-recurring financial charges66B€-27k-
Profit (loss) for the period before taxes9903€11k€-7k▼
Income taxes67/77-€7
Taxes670/3-€7
Profit (loss) for the period9904€11k€-7k▼
Profit (loss) for the period to be appropriated9905€11k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-87k€-94k▼
Profit (loss) brought forward from the previous period14P€-98k€-87k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €94k | €235k | €13 | - | - | - |
| Turnover70 | €94k | €37k | - | - | - | - |
| Non-recurring operating income76A | - | €198k | €13 | - | - | - |
| Operating charges60/66A | €67k | €63k | €12k | €14k | €1k | ▼ 89.8% |
| Goods for resale, raw materials and consumables60 | €21k | €45k | - | - | - | - |
| Purchases600/8 | €21k | €45k | - | - | - | - |
| Services and other goods61 | - | - | €11k | €11k | €610 | ▼ 94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €9k | - | - | - | - |
| Other operating charges640/8 | €19k | €8k | €404 | - | €787 | - |
| Non-recurring operating charges66A | - | - | €611 | €2k | - | - |
| Operating profit (loss)9901 | €26k | €172k | €-12k | €-14k | €-1k | ▲ 89.8% |
| Financial income75/76B | - | €1k | - | - | - | - |
| Recurring financial income75 | - | €1k | - | - | - | - |
| Income from financial fixed assets750 | - | €1k | - | - | - | - |
| Other financial income752/9 | - | €0 | - | - | - | - |
| Financial charges65/66B | €17k | €7k | €327 | €-24k | €5k | ▲ 121% |
| Recurring financial charges65 | €17k | €7k | €327 | €3k | €5k | ▲ 65.2% |
| Debt charges650 | €17k | €7k | €327 | €3k | €5k | ▲ 65.2% |
| Non-recurring financial charges66B | - | - | - | €-27k | - | - |
| Profit (loss) for the period before taxes9903 | €9k | €167k | €-12k | €11k | €-7k | ▼ 162% |
| Income taxes67/77 | - | €47k | €43k | - | €7 | - |
| Taxes670/3 | - | €47k | €43k | - | €7 | - |
| Profit (loss) for the period9904 | €9k | €120k | €-55k | €11k | €-7k | ▼ 162% |
| Profit (loss) for the period to be appropriated9905 | €9k | €120k | €-55k | €11k | €-7k | ▼ 162% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €623k | €41k | €767 | €415 | €1k | ▲ 220% |
| Fixed assets21/28 | €576k | - | - | - | - | - |
| Tangible fixed assets22/27 | €576k | - | - | - | - | - |
| Land and buildings22 | €576k | - | - | - | - | - |
| Current assets29/58 | €48k | €41k | €767 | €415 | €1k | ▲ 220% |
| Amounts receivable after more than one year29 | €24k | - | - | - | - | - |
| Other amounts receivable291 | €24k | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | €41k | - | €205 | €205 | = |
| Other amounts receivable41 | - | €41k | - | €205 | €205 | = |
| Cash at bank and in hand54/58 | €24k | €480 | €767 | €210 | €1k | ▲ 434% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €623k | €41k | €767 | €415 | €1k | ▲ 220% |
| Equity10/15 | €-144k | €-24k | €-79k | €-68k | €-75k | ▼ 9.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | €19k | €19k | = |
| Issued capital100 | €19k | €19k | €19k | €19k | €19k | = |
| Profit (loss) carried forward14 | €-163k | €-43k | €-98k | €-87k | €-94k | ▼ 7.5% |
| Amounts payable17/49 | €768k | €66k | €80k | €69k | €76k | ▲ 10.8% |
| Amounts payable after more than one year17 | €716k | - | - | - | - | - |
| Financial debts170/4 | €685k | - | - | - | - | - |
| Credit institutions173 | €685k | - | - | - | - | - |
| Trade debts175 | €31k | - | - | - | - | - |
| Suppliers1750 | €31k | - | - | - | - | - |
| Amounts payable within one year42/48 | €51k | €66k | €80k | €69k | €76k | ▲ 10.8% |
| Trade debts44 | €17k | €3k | €4k | €4k | €400 | ▼ 90.1% |
| Suppliers440/4 | €17k | €3k | €4k | €4k | €400 | ▼ 90.1% |
| Taxes, remuneration and social security45 | €16k | €62k | €67k | - | - | - |
| Taxes450/3 | €16k | €62k | €67k | - | - | - |
| Other amounts payable47/48 | €18k | - | €9k | €65k | €76k | ▲ 17.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €120k | €-55k | €11k | €-7k | ▼ 162% |
| + Depreciation and write-downs630 | €27k | €9k | - | - | - | - |
| Operating cash flow (approximation) | €36k | €129k | €-55k | €11k | €-7k | ▼ 162% |
| Change in cash | - | €-23k | €287 | €-557 | €913 | ▲ 264% |
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
Next filing, fiscal year 2026, expected by
2026
03-09
State Gazette act
End & cessationAuditor report · Shareholding · Declaration18 facts ▸
State Gazette act
End & cessation
Auditor report · Shareholding · Declaration18 facts ▸
- General meeting, assemblée générale extraordinaire
- Other statement, lecture du rapport spécial de l'organe d'administration, rapport justifie la dissolution proposée, joint d'un état résumant la situation active et passive arrêt…
- Other statement, lecture du rapport de contrôle, BMS & C°
- Auditor report, 03-06-2026
- Shareholding, actionnaire
- Other statement, rapport réviseur - image fidèle, Le rapport du réviseur d'entreprise indique par ailleurs si la situation active/passive donne une image fidèle de la situation…
- General meeting, adhérer aux conclusions des rapports, aucune observation particulière de la part des actionnaires
- Declaration, déclaration organe d'administration - dettes, L'organe d'administration déclare qu'il n'y a eu aucune modification entre la date d'établissement de l'état résum…
- Declaration, déclaration administrateur - dettes tiers, L'administrateur déclare en outre qu'il n'existe pas de dettes à l'égard de tiers autres que celles apparaissant au v…
- Dissolution, dissolution anticipée, la société cesse d'exister, même pour les besoins de sa liquidation
- Liquidation, numéraire, unanimité des voix des actionnaires présents ou représentés, représentant la moitié au moins du nombre total des actions émises
- Liquidation closure, répartition des avoirs et règlement des comptes entièrement fixés, cloture de la liquidation
- +6 further facts in this act
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 18 days late
2024
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
31-12
Financial
Weakest financial yearnet €-55k
Net result drops to €-55k, the lowest in the series.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2019net €120k ▲1,236%
Operating result €172k, net result €120k, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €9k
Net result €9k after 2 loss-making years.
14-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 75 days late
2020
31-12
Financial
Liquidity times 8current ratio 7.75
Current ratio from 0.98 to 7.75; short-term debt falls from €44k to €37k.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Etterbeek
Ground area
3,610 m²
Building footprint
3,528 m²
Volume, LiDAR
55,433 m³
Parcel 21362B0225/00Z005, Brussels · tallest building 22.8 m, ±5 floors. Linked by address, not a title deed.
56
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0225/00Z005 | Brussels | 3,610 m² | 1 · 3,528 m² | 22.8 m · 5 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.
Articles of association
Other provisions of the articles (4)
- Other statement (2)
- Liquidation distribution: entre les actionnaires au prorata des actions qu'ils détiennent dans la société
- Custody of records: 1040 Etterbeek, rue des Francs 79, Monsieur Olivier BROURHANT
Similar companies · same sector and region
4 IMMO
BE 0534.993.701
Etterbeek
A.M.M. CONCEPT
BE 0477.620.575
Etterbeek
CHAMPEL
BE 0862.736.212
Etterbeek
CHATEAU LE DOCTE
BE 0840.049.494
Etterbeek
CORYLUS
BE 0556.734.270
Etterbeek
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 7,321 companies in sector 68110 we hold annual accounts for 5,384. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.