Belgotap
ActiveSummary
The computed 12-month bankruptcy probability of Belgotap is 1.8% (moderate). The 2025 annual accounts show equity of €392,289 and a net result of -€118,354. Equity is growing by ~22.5% per year across the filed fiscal years. Its solvency ranks better than 65% of 924 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-65
Solvency80▲+11
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity short (current ratio 0.71 against 2.72 in 2024; short-term debt: 37.8% and cash: 5.7% of total assets), and 45.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 09-07-2026, 22 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
22 d early
2024
31 d early
2023
14 d early
2022
109 d early
2021
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 40 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€392,289▼ 23.2%
2024 · €510,643
Total assets
€718,465▼ 38.5%
2024 · €1.2m
Net result
-€118,354
2024 · €130,357
Working capital
-€78,003
2024 · €409,147
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€9,116-€201,704▲ 2,113%€83,017▼ 58.8%€184,052▲ 122%-€101,860
Net result-€19,707-€153,945€46,048▼ 70.1%€130,357▲ 183%-€118,354
Equity€180,293-€334,238▲ 85.4%€380,286▲ 13.8%€510,643▲ 34.3%€392,289▼ 23.2%
Total assets€1.1m-€1.2m▲ 14.8%€1.1m▼ 10.3%€1.2m▲ 4.5%€718,465▼ 38.5%
Debt€905,737-€912,502▲ 0.7%€738,137▼ 19.1%€658,282▼ 10.8%€326,176▼ 50.5%
Working capital€15,857-€292,367▲ 1,744%€318,765▲ 9.0%€409,147▲ 28.4%-€78,003
Staff (FTE)7.8-8.3▲ 6.4%9▲ 8.4%8.8▼ 2.2%9.4▲ 6.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €101,860 after €184,052 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €718,465
Fixed assets
€524,573 ▲ 0.4%
Current assets
€193,892 ▼ 70.0%
Equity and liabilities €718,465
Equity
€392,289 ▼ 23.2%
Debt
€326,176 ▼ 50.5%
Debt's share of the balance-sheet total falls from 56.3% to 45.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€36,255▼
2024 · €512,968
Cash flow
€19,761▼
2024 · €459,273
Current ratio
0.71▼
2024 · 2.72
Quick ratio
0.67▼
2024 · 2.71
Debt to equity
0.83▼
2024 · 1.29
ROE
-30.2%▼
2024 · 25.5%
ROA
-16.5%▼
2024 · 11.2%
Interest coverage
2.18▼
2024 · 29.91
Debt ≤ 1 year
€271,896▲
2024 · €237,195
Debt > 1 year
€54,280▼
2024 · €421,087
Income taxes
€171▼
2024 · €44,883
Staff costs
€372,187▼
2024 · €375,682
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,595 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.3%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 3,595 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4,971 | €20,315 | €7,350 | €0 | - | - |
| Remuneration, social security and pensions62 | €92,985 | €283,064 | €386,445 | €375,682 | €372,187 | ▼ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €266,565 | €308,491 | €297,327 | €328,916 | €138,114 | ▼ 58.0% |
| Other operating charges640/8 | €15,032 | €4,899 | €13,776 | €13,771 | €15,817 | ▲ 14.9% |
| Non-recurring operating charges66A | €1,052 | €512 | €4,516 | €390 | €50 | ▼ 87.2% |
| Gross operating margin9900 | €384,750 | €798,671 | €785,080 | €902,811 | €424,309 | ▼ 53.0% |
| Operating profit (loss)9901 | €9,116 | €201,704 | €83,017 | €184,052 | -€101,860 | ▼ 155% |
| Financial income75/76B | €108 | €6 | €42 | €8,337 | €278 | ▼ 96.7% |
| Recurring financial income75 | €108 | €6 | €42 | €8,337 | €278 | ▼ 96.7% |
| Financial charges65/66B | €28,931 | €24,400 | €18,336 | €17,149 | €16,601 | ▼ 3.2% |
| Recurring financial charges65 | €28,931 | €24,400 | €18,336 | €17,149 | €16,601 | ▼ 3.2% |
| Profit (loss) for the period before taxes9903 | -€19,707 | €177,310 | €64,722 | €175,240 | -€118,183 | ▼ 167% |
| Income taxes67/77 | - | €23,364 | €18,674 | €44,883 | €171 | ▼ 99.6% |
| Profit (loss) for the period9904 | -€19,707 | €153,945 | €46,048 | €130,357 | -€118,354 | ▼ 191% |
| Profit (loss) for the period to be appropriated9905 | -€19,707 | €153,945 | €46,048 | €130,357 | -€118,354 | ▼ 191% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.2m | €1.1m | €1.2m | €718,465 | ▼ 38.5% |
| Formation expenses20 | €139 | €0 | - | - | - | - |
| Fixed assets21/28 | €864,352 | €723,345 | €577,370 | €522,583 | €524,573 | ▲ 0.4% |
| Intangible fixed assets21 | - | €35,131 | €131,300 | €213,715 | €284,220 | ▲ 33.0% |
| Tangible fixed assets22/27 | €864,352 | €688,214 | €446,070 | €308,868 | €240,353 | ▼ 22.2% |
| Plant, machinery and equipment23 | €802,550 | €629,031 | €397,065 | €225,280 | €185,241 | ▼ 17.8% |
| Furniture and vehicles24 | €26,235 | €32,285 | €18,270 | €17,799 | €10,246 | ▼ 42.4% |
| Leasing and similar rights25 | €35,567 | €26,898 | €27,001 | €62,462 | €41,945 | ▼ 32.8% |
| Other tangible fixed assets26 | - | - | €3,734 | €3,327 | €2,921 | ▼ 12.2% |
| Current assets29/58 | €221,539 | €523,396 | €541,053 | €646,341 | €193,892 | ▼ 70.0% |
| Stocks and contracts in progress3 | - | - | - | €3,560 | €11,295 | ▲ 217% |
| Stocks30/36 | - | - | - | €3,560 | €11,295 | ▲ 217% |
| Amounts receivable within one year40/41 | €143,395 | €171,499 | €85,546 | €54,942 | €135,186 | ▲ 146% |
| Trade receivables40 | €123,729 | €149,364 | €77,188 | €53,078 | €104,046 | ▲ 96.0% |
| Other amounts receivable41 | €19,667 | €22,136 | €8,358 | €1,864 | €31,140 | ▲ 1,571% |
| Cash at bank and in hand54/58 | €74,896 | €348,691 | €453,809 | €582,664 | €40,698 | ▼ 93.0% |
| Deferred charges and accrued income490/1 | €3,248 | €3,206 | €1,699 | €5,175 | €6,714 | ▲ 29.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.2m | €1.1m | €1.2m | €718,465 | ▼ 38.5% |
| Equity10/15 | €180,293 | €334,238 | €380,286 | €510,643 | €392,289 | ▼ 23.2% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | - | €134,238 | €180,286 | €310,643 | €192,289 | ▼ 38.1% |
| Distributable reserves133 | - | €134,238 | €180,286 | €310,643 | €192,289 | ▼ 38.1% |
| Profit (loss) carried forward14 | -€19,707 | €0 | - | - | - | - |
| Amounts payable17/49 | €905,737 | €912,502 | €738,137 | €658,282 | €326,176 | ▼ 50.5% |
| Amounts payable after more than one year17 | €700,055 | €681,473 | €515,848 | €421,087 | €54,280 | ▼ 87.1% |
| Financial debts170/4 | €700,055 | €681,473 | €515,848 | €421,087 | €54,280 | ▼ 87.1% |
| Amounts payable within one year42/48 | €205,682 | €231,029 | €222,289 | €237,195 | €271,896 | ▲ 14.6% |
| Current portion of amounts payable after more than one year42 | €125,540 | €163,034 | €163,207 | €185,250 | €189,361 | ▲ 2.2% |
| Financial debts43 | €239 | €196 | €1,268 | €38 | €229 | ▲ 507% |
| Credit institutions430/8 | €239 | €196 | €1,268 | €38 | €229 | ▲ 507% |
| Trade debts44 | €21,225 | €25,059 | €24,418 | €14,764 | €32,865 | ▲ 123% |
| Suppliers440/4 | €21,225 | €25,059 | €24,418 | €14,764 | €32,865 | ▲ 123% |
| Taxes, remuneration and social security45 | €58,623 | €42,740 | €33,395 | €37,143 | €49,441 | ▲ 33.1% |
| Taxes450/3 | €43,792 | €21,167 | €0 | €3,166 | €99 | ▼ 96.9% |
| Remuneration and social security454/9 | €14,831 | €21,573 | €33,395 | €33,978 | €49,342 | ▲ 45.2% |
| Other amounts payable47/48 | €55 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,707 | €153,945 | €46,048 | €130,357 | -€118,354 | ▼ 191% |
| + Depreciation and write-downs630 | €266,565 | €308,491 | €297,327 | €328,916 | €138,114 | ▼ 58.0% |
| Operating cash flow (approximation) | €246,858 | €462,437 | €343,375 | €459,273 | €19,761 | ▼ 95.7% |
| Investment in fixed assets (approximation) | - | -€167,484 | -€151,352 | -€274,130 | -€140,104 | ▲ 48.9% |
| Change in cash | - | €273,795 | €105,118 | €128,855 | -€541,966 | ▼ 521% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€118,354
Net result drops to -€118,354, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €500,000Eq €510,643 ▲34.3%
3 profitable years in a row build equity to €510,643.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €153,945
Net result €153,945 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.27
Current ratio from 1.08 to 2.27.
31-12
Financial
Equity above €200,000Eq €334,238 ▲85.4%
Equity rises from €180,293 to €334,238.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Leuven · 1 establishment unit since 2020
Ground area
5,114 m²
Building footprint
1,445 m²
Volume, LiDAR
9,838 m³
Parcel 24038C0160/00A000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Belgotap
since 20202.310.616.016
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24038C0160/00A000 | Flanders | 5,114 m² | 1 · 1,445 m² | 8.1 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.
Structure & network
Owners and holdings
2 ownersOwners 2
-
50%
- Sourceaccounts Kano 202350%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 16,506 EUR awarded · 16,506 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 16,506 EUR | 16,506 EUR |
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Of 303 companies in sector 77223 we hold annual accounts for 138. 97 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
77223Rental and leasing activities
Contact
Website
www.belgotap.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0759670346
Also
9925:BE0759670346
Registered
24-09-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.