Belgotec
ActiveSummary
Belgotec has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€55,693) and a net result of €53,600. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 9% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+58
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.52 against 0.43 in 2024; short-term debt: 191.1% and cash: 27.3% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-91.1%
Return on assets
87.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 11472 sector peers (2025).
NBB · sector comparisonPosition among 11472 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
25 d late
2024
28 d late
2023
37 d early
2022
31 d late
2021
47 d late
2020
61 d late
2019
74 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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, micro schema
Equity
-€55,693▲ 49.0%
2024 · -€109,293
Total assets
€61,158▲ 15.0%
2024 · €53,178
Net result
€53,600▲ 5,760%
2024 · €915
Working capital
-€55,693▲ 22.4%
2024 · -€71,793
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,883€16,887▼ 15.1%-€8,449€2,523€53,693▲ 2,028%
Net result€18,043within the sector's middle half€14,912within the sector's middle half▼ 17.4%-€10,554below the sector's middle half€915within the sector's middle half€53,600above the sector's middle half▲ 5,760%
Equity-€114,566below the sector's middle half▲ 13.6%-€99,654below the sector's middle half▲ 13.0%-€110,207below the sector's middle half▼ 10.6%-€109,293below the sector's middle half▲ 0.8%-€55,693below the sector's middle half▲ 49.0%
Total assets€42,066below the sector's middle half▼ 48.6%€28,945below the sector's middle half▼ 31.2%€23,171below the sector's middle half▼ 19.9%€53,178below the sector's middle half▲ 130%€61,158below the sector's middle half▲ 15.0%
Debt€156,632▼ 27.0%€128,599▼ 17.9%€133,379▲ 3.7%€162,471▲ 21.8%€116,851▼ 28.1%
Working capital-€77,066▲ 20.7%-€62,154▲ 19.3%-€72,707▼ 17.0%-€71,793▲ 1.3%-€55,693▲ 22.4%
Solvency-272.3%below the sector's middle half▼ 110.3pp-344.3%below the sector's middle half▼ 71.9pp-475.6%below the sector's middle half▼ 131.3pp-205.5%below the sector's middle half▲ 270.1pp-91.1%below the sector's middle half▲ 114.5pp
Staff (FTE)0.6below the sector's middle half▼ 78.6%1▲ 66.7%1=1=0.8▼ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 2,028% above 2024 and is the highest result in the available series.
Key figures and ratios
Current ratio
0.52▲
2024 · 0.43
Quick ratio
0.49▲
2024 · 0.40
Debt to equity
-2.10▼
2024 · -1.49
ROA
87.6%▲
2024 · 1.7%
Debt ≤ 1 year
€116,851▼
2024 · €124,971
Debt > 1 year
€0▼
2024 · €37,500
Income taxes
€18▼
2024 · €74
Staff costs
€47,804▲
2024 · €33,758
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,176 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 2,176 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €20,038 | €28,146 | €29,082 | €33,758 | €47,804 | ▲ 41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,055 | - | - | - | - | - |
| Other operating charges640/8 | €261 | €690 | €745 | €758 | €984 | ▲ 29.8% |
| Gross operating margin9900 | €42,237 | €45,723 | €21,378 | €37,039 | €102,481 | ▲ 177% |
| Operating profit (loss)9901 | €19,883 | €16,887 | -€8,449 | €2,523 | €53,693 | ▲ 2,028% |
| Financial income75/76B | €199 | - | - | - | - | - |
| Recurring financial income75 | €199 | - | - | - | - | - |
| Financial charges65/66B | €1,894 | €1,912 | €1,940 | €1,534 | €75 | ▼ 95.1% |
| Recurring financial charges65 | €1,894 | €1,912 | €1,940 | €1,534 | €75 | ▼ 95.1% |
| Profit (loss) for the period before taxes9903 | €18,188 | €14,976 | -€10,389 | €989 | €53,617 | ▲ 5,323% |
| Income taxes67/77 | €145 | €64 | €164 | €74 | €18 | ▼ 76.3% |
| Profit (loss) for the period9904 | €18,043 | €14,912 | -€10,554 | €915 | €53,600 | ▲ 5,760% |
| Profit (loss) for the period to be appropriated9905 | €18,043 | €14,912 | -€10,554 | €915 | €53,600 | ▲ 5,760% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €42,066 | €28,945 | €23,171 | €53,178 | €61,158 | ▲ 15.0% |
| Fixed assets21/28 | - | - | €0 | €0 | - | - |
| Tangible fixed assets22/27 | - | - | €0 | €0 | - | - |
| Furniture and vehicles24 | - | - | €0 | €0 | - | - |
| Current assets29/58 | €42,066 | €28,945 | €23,171 | €53,178 | €61,158 | ▲ 15.0% |
| Amounts receivable after more than one year29 | - | - | - | - | €10,000 | - |
| Other amounts receivable291 | - | - | - | - | €10,000 | - |
| Stocks and contracts in progress3 | €2,906 | €277 | €6,936 | €3,386 | €3,386 | = |
| Stocks30/36 | €2,906 | €277 | €6,936 | €3,386 | €3,386 | = |
| Amounts receivable within one year40/41 | €39,160 | €28,668 | €16,235 | €47,959 | €31,085 | ▼ 35.2% |
| Trade receivables40 | €26,158 | €28,668 | €16,235 | €46,726 | €13,734 | ▼ 70.6% |
| Other amounts receivable41 | €13,001 | - | - | €1,232 | €17,352 | ▲ 1,308% |
| Cash at bank and in hand54/58 | - | - | €0 | €1,834 | €16,687 | ▲ 810% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €42,066 | €28,945 | €23,171 | €53,178 | €61,158 | ▲ 15.0% |
| Equity10/15 | -€114,566 | -€99,654 | -€110,207 | -€109,293 | -€55,693 | ▲ 49.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€120,766 | -€105,854 | -€116,407 | -€115,493 | -€61,893 | ▲ 46.4% |
| Amounts payable17/49 | €156,632 | €128,599 | €133,379 | €162,471 | €116,851 | ▼ 28.1% |
| Amounts payable after more than one year17 | €37,500 | €37,500 | €37,500 | €37,500 | €0 | ▼ 100% |
| Financial debts170/4 | €37,500 | €37,500 | €37,500 | €37,500 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €119,132 | €91,099 | €95,879 | €124,971 | €116,851 | ▼ 6.5% |
| Current portion of amounts payable after more than one year42 | €12,500 | €12,500 | €12,500 | €12,500 | €50,000 | ▲ 300% |
| Financial debts43 | €19,221 | €18,962 | €23,510 | - | - | - |
| Credit institutions430/8 | €19,221 | €18,962 | €23,510 | - | - | - |
| Trade debts44 | €40,163 | €11,649 | €5,556 | €18,966 | €17,639 | ▼ 7.0% |
| Suppliers440/4 | €40,163 | €11,649 | €5,556 | €18,966 | €17,639 | ▼ 7.0% |
| Taxes, remuneration and social security45 | €15,788 | €11,429 | €11,843 | €4,636 | €92 | ▼ 98.0% |
| Taxes450/3 | €11,741 | €7,528 | €7,510 | €239 | €92 | ▼ 61.6% |
| Remuneration and social security454/9 | €4,047 | €3,901 | €4,334 | €4,398 | €0 | ▼ 100% |
| Other amounts payable47/48 | €31,460 | €36,558 | €42,469 | €88,869 | €49,120 | ▼ 44.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,043 | €14,912 | -€10,554 | €915 | €53,600 | ▲ 5,760% |
| + Depreciation and write-downs630 | €2,055 | - | - | - | - | - |
| Operating cash flow (approximation) | €20,098 | €14,912 | -€10,554 | €915 | €53,600 | ▲ 5,760% |
| Investment in fixed assets (approximation) | - | - | - | €0 | - | - |
| Change in cash | - | - | - | €1,834 | €14,854 | ▲ 710% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Highest result since 2018net €53,600 ▲5,760%
Operating result €53,693, net result €53,600, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Back to profitnet €915
Net result €915 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
16-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 47 days late
2021
31-12
Financial
Back to profitnet €18,043
Net result €18,043 after 3 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
13-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 74 days late
2019
31-12
Financial
Weakest financial yearnet -€70,182
Net result drops to -€70,182, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 61 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
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, Grimbergen · 1 establishment unit since 2017
Ground area
247 m²
Building footprint
111 m²
Volume, LiDAR
868 m³
Parcel 23005B0412/00M002, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Belgotec
since 20172.264.966.826
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23005B0412/00M002 | Flanders | 247 m² | 1 · 111 m² | 10.9 m · 3 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.
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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 1,244 companies in sector 46643 we hold annual accounts for 953. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
46500Wholesale of information and communication equipment
47400Retail sale of information and communication equipment
47540Retail sale of electrical household appliances
E-invoicing
Reachable via Peppol
Peppol ID
0208:0674410514
Registered
06-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.