Belgotrust

Active Public limited companyfounded 1978active for 48 yearsZuidstraat 165, 1000 BrusselsKBO/BCE: BE 0418.809.178

Belgotrust

Financial year 2025

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Annual accounts 2025

full format, filed on 25-08-2026, 25 days late

€270,198

▼ 10.1%

€12,726

▼ 79.7%

€207,446

▼ 19.1%

€174,190

▼ 24.9%

13.0%

▲ 0.6 percentage points

0.83

▲ 0.13

The turnover shown is an estimate from the gross margin.

Turnover ≈ €300,000. Estimated: probably between €270,000 and €340,000.

Money flows

no detail for 2025

Balance sheet

balance sheet total €1.8m on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

13.0%

Higher than 26% of 5,810 companies in 2025.

0.83

Higher than 36% of 5,561 companies in 2025.

-1.1%

Higher than 28% of 5,784 companies in 2025.

Belgotrust Middle half of the sector 80% of the sector Full accounts in real estate (NACE 68)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Staff

Staff costs divided by the average number of full-time equivalents.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	1.8m	2.1m	2.1m	2.3m	2.4m	2.4m	2.1m	1.6m	1.1m	1.2m	1.1m	1.1m	1.1m	1.1m	1.1m	916,793	868,166	855,571	988,345	1.1m
`21/28`	1.6m	1.8m	1.9m	2.1m	2.1m	2.0m	1.8m	1.2m	438,103	469,178	430,993	456,801	393,936	423,998	462,035	499,301	523,127	593,694	731,442	886,350
`22/27`	1.6m	1.8m	1.9m	2.1m	2.1m	2.0m	1.8m	1.2m	436,346	467,421	429,236	455,545	392,679	422,742	460,779	498,044	521,870	592,437	730,185	885,093
`22`	864,405	888,241	912,076	935,912	959,747	983,583	1.0m	1.0m	390,273	418,434	416,912	442,178	378,340	396,400	418,570	430,241	462,912	485,082	507,253	528,610
`23`	21,555	27,311	33,066	40,832	48,749	56,794	779,107	139,204	9,999	11,733	11,316	12,808	12,623	22,974	33,007	53,149	57,004	85,027	181,752	294,688
`24`	-	-	-	105	1,033	2,354	787	18,432	36,075	36,908	315	558	1,716	3,368	9,202	14,654	1,954	2,310	1,145	1,743
`26`	678,860	843,989	985,435	1.1m	1.1m	935,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`28`	2,299	1,412	1,757	1,757	1,757	1,757	1,757	1,757	1,757	1,757	1,757	1,257	1,257	1,257	1,257	1,257	1,257	1,257	1,257	1,257
`29/58`	236,264	297,800	200,598	209,936	223,437	431,186	333,709	434,748	649,544	700,328	670,836	675,216	712,804	676,204	625,613	417,492	345,039	261,877	256,903	195,010
`29`	-	-	74,894	74,894	65,357	65,357	65,357	65,357	134,000	134,000	134,000	30,000	-	-	12,705	5,008	10,187	15,062	-	-
`290`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,705	5,008	10,187	15,062	-	-
`291`	-	-	74,894	74,894	65,357	65,357	65,357	65,357	134,000	134,000	134,000	30,000	-	-	-	-	-	-	-	-
`40/41`	142,739	174,242	106,274	107,140	134,645	294,710	69,232	38,018	35,255	20,610	30,614	41,375	40,839	45,591	67,897	34,521	42,924	36,447	43,206	57,163
`40`	47,614	106,085	45,583	42,130	53,461	213,649	12,688	12,318	10,226	660	-	-	18,600	19,399	23,462	-	11,132	11,132	20,172	43,387
`41`	95,125	68,157	60,690	65,010	81,184	81,061	56,544	25,699	25,029	19,950	30,614	41,375	22,239	26,191	44,435	34,521	31,792	25,315	23,034	13,776
`50/53`	-	-	-	-	9,912	40,374	40,374	98,423	99,139	99,230	99,150	99,150	69,310	127,987	127,987	121,840	83,508	55,770	-	-
`54/58`	88,525	123,558	8,892	17,649	11,590	26,195	152,517	225,876	377,675	440,572	400,144	500,089	598,852	499,440	415,122	254,293	205,198	145,135	199,593	116,642
`490/1`	5,000	-	10,539	10,251	1,934	4,551	6,229	7,075	3,475	5,916	6,927	4,602	3,803	3,187	1,903	1,830	3,222	9,463	14,104	21,205
Balance sheet: equity and liabilities
`10/49`	1.8m	2.1m	2.1m	2.3m	2.4m	2.4m	2.1m	1.6m	1.1m	1.2m	1.1m	1.1m	1.1m	1.1m	1.1m	916,793	868,166	855,571	988,345	1.1m
`10/15`	234,001	254,532	309,575	353,298	396,640	423,830	605,766	720,348	891,185	924,466	925,051	1.0m	978,691	1.1m	974,685	845,941	797,734	726,159	738,699	738,691
`10/11`	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000
`10`	165,000	165,000	165,000	165,000	165,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000	165,000
`13`	555,422	555,422	610,466	610,466	610,466	610,466	610,466	647,805	720,061	753,342	753,342	567,500	567,500	666,500	666,500	666,500	616,500	561,159	566,500	566,500
`130/1`	16,500	16,500	16,500	16,500	16,500	16,500	92,966	130,305	202,561	185,842	185,842	-	-	-	-	-	-	-	-	-
`130`	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500
`1319`	-	-	-	-	-	-	92,966	130,305	202,561	185,842	185,842	-	-	-	-	-	-	-	-	-
`133`	538,922	538,922	593,966	593,966	593,966	593,966	501,000	501,000	501,000	551,000	551,000	551,000	551,000	650,000	650,000	650,000	600,000	544,659	550,000	550,000
`14`	-486,421	-465,891	-465,891	-422,168	-378,826	-351,636	-169,700	-92,458	6,124	6,124	6,709	283,656	246,191	222,667	143,185	14,441	16,234	-	7,199	7,191
`17/49`	1.6m	1.8m	1.8m	1.9m	2.0m	2.0m	1.5m	907,097	196,462	245,040	176,778	115,862	128,049	46,036	112,964	70,852	70,432	129,412	249,646	342,669
`17`	1.3m	1.4m	1.5m	1.6m	1.7m	1.6m	1.4m	756,832	23,351	29,022	30,322	30,422	24,664	21,816	41,884	38,446	38,446	57,457	115,665	231,606
`170/4`	1.2m	1.3m	1.4m	1.5m	1.6m	1.6m	1.4m	734,446	-	-	-	-	-	-	-	-	-	19,011	79,619	194,100
`178/9`	52,917	52,917	45,564	43,210	32,351	22,131	22,131	22,386	23,351	29,022	30,322	30,422	24,664	21,816	41,884	38,446	38,446	38,446	36,046	37,506
`42/48`	283,071	421,884	335,029	344,755	310,010	369,243	90,154	150,264	173,111	216,018	146,455	85,439	103,385	24,220	71,080	32,406	31,986	71,572	133,732	109,138
`42`	102,923	101,332	99,767	98,225	96,708	80,689	-	-	-	-	-	-	-	-	-	-	19,011	60,608	91,697	36,921
`43`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,708	3,672	-	39,832
`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,708	3,672	-	39,832
`44`	52,686	133,138	48,040	46,749	79,142	240,560	51,987	37,393	16,862	44,409	15,940	62,409	17,209	16,112	21,076	31,616	8,182	6,646	8,209	29,727
`440/4`	52,686	133,138	48,040	46,749	79,142	240,560	51,987	37,393	16,862	44,409	15,940	62,409	17,209	16,112	21,076	31,616	8,182	6,646	8,209	29,727
`45`	220	8,249	7,471	18,907	10,265	5,111	2,694	13,318	53,386	38,745	48,283	20,247	3,158	5,996	49,881	442	-	408	33,633	-
`450/3`	220	8,249	7,471	14,702	6,060	3,223	2,694	9,026	53,386	38,745	48,283	20,247	3,158	5,996	49,881	442	-	408	9,633	-
`454/9`	-	-	-	4,205	4,205	1,888	-	4,292	-	-	-	-	-	-	-	-	-	-	24,000	-
`47/48`	127,242	179,165	179,751	180,874	123,895	42,884	35,473	99,554	102,863	132,863	82,232	2,784	83,018	2,112	123	348	2,085	238	193	2,658
`492/3`	11,598	4,700	16,713	262	8,904	1,423	-	-	-	-	-	-	-	-	-	-	-	383	249	1,925
Income statement
`70`	-	-	-	-	-	-	-	-	-	-	-	-	-	290,299	361,603	-	-	-	-	-
`9900`	270,198	300,681	229,857	214,324	217,805	38,868	92,497	111,126	119,093	155,311	179,403	127,819	154,594	180,329	244,568	129,524	173,773	159,533	203,199	235,960
`60/61`	-	-	-	-	-	-	-	-	-	-	-	-	-	109,969	121,235	-	-	-	-	-
`62`	-	-	-	-	-	1,353	21,429	23,732	-	-	-	-	-	-	-	-	-	-	-	-
`630`	194,720	193,933	191,715	185,270	163,651	132,071	133,194	151,743	49,410	43,728	27,977	38,828	35,095	41,246	40,515	43,294	71,590	149,867	155,953	157,452
`640/8`	62,752	44,197	56,030	50,282	74,890	57,843	46,888	35,087	36,292	36,638	32,193	38,001	30,476	34,720	29,018	36,447	29,561	29,699	37,369	32,192
`9901`	12,726	62,551	-17,888	-21,228	-20,736	-152,399	-109,013	-99,437	33,390	74,946	119,233	50,990	89,023	104,363	175,035	49,783	72,622	-20,033	9,877	46,316
`75/76B`	4,299	3,880	3,005	6,420	25,369	4,041	41,089	6,284	472	11,661	3,835	6,273	38,557	8,968	9,635	6,756	4,456	6,325	1,996	1,345
`75`	4,299	3,880	3,005	6,420	25,369	4,041	41,089	6,284	472	11,661	3,835	6,273	38,557	8,968	9,635	6,756	4,456	6,325	1,996	1,345
`65/66B`	23,193	24,501	28,406	28,234	31,376	32,998	18,581	4,510	1,835	1,407	1,684	1,287	1,264	2,894	1,414	3,416	5,387	8,751	11,865	10,874
`65`	23,193	24,501	28,406	28,234	31,376	32,998	18,581	4,510	1,835	1,407	1,684	1,287	1,264	2,894	1,414	3,416	5,387	8,751	11,865	10,874
`9903`	-6,168	41,930	-43,289	-43,042	-26,743	-181,356	-86,505	-97,663	32,027	85,200	121,384	55,976	126,315	110,438	183,256	53,123	71,691	-22,459	8	36,787
`67/77`	14,363	4,007	434	300	447	580	-7,396	919	15,308	32,515	45,137	18,512	22,790	30,956	54,513	4,916	116	-9,919	-	15,204
`9904`	-20,531	37,922	-43,723	-43,342	-27,190	-181,936	-79,109	-98,581	16,719	52,684	76,246	37,465	103,524	79,482	128,743	48,207	71,575	-12,540	8	21,583
`9905`	-20,531	37,922	-43,723	-43,342	-27,190	-181,936	-79,109	-98,581	16,719	52,684	76,246	37,465	103,524	79,482	128,743	48,207	71,575	-12,540	8	21,583
Appropriation of the result
`9906`	-486,421	-427,968	-465,891	-422,168	-378,826	-351,636	-171,567	-92,458	22,843	59,393	242,437	283,656	326,191	222,667	143,185	64,441	71,575	-5,341	7,199	57,191
`14P`	-465,891	-465,891	-422,168	-378,826	-351,636	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`791/2`	-	-	-	-	-	-	37,340	72,256	50,000	-	-	-	99,000	-	-	-	-	5,341	-	-
`691/2`	-	37,922	-	-	-	-	-	-	16,719	-	155,728	-	-	-	-	50,000	55,341	-	-	50,000
`6921`	-	37,922	-	-	-	-	-	-	16,719	-	155,728	-	-	-	-	50,000	55,341	-	-	50,000
`694/7`	-	-	-	-	-	-	35,473	72,256	50,000	53,270	80,000	-	179,000	-	-	-	-	-	-	-
`694`	-	-	-	-	-	-	35,473	72,256	50,000	50,000	80,000	-	179,000	-	-	-	-	-	-	-
`695`	-	-	-	-	-	-	-	-	-	3,270	-	-	-	-	-	-	-	-	-	-
Social balance sheet
`9087`	-	-	-	-	-	-	0.5	-	-	-	-	-	-	-	-	-	-	-	-	-
Hours worked`1013`	-	-	-	-	-	-	912	-	-	-	-	-	-	-	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 27 older financial years (1979-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 25-08-2026.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 25 days after the deadline. Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00438475.

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	25-08-2026	2026-00438475	PDF
31-12-2024	full format	07-10-2025	2025-00536400	PDF
31-12-2023	full format	07-10-2025	2025-00536431	PDF
31-12-2022	full format	25-03-2024	2024-00050683	PDF
31-12-2021	full format	24-10-2022	2022-20476519	PDF
31-12-2020	micro format	24-02-2022	2022-06300108	PDF
31-12-2019	micro format	21-01-2021	2021-02100462	PDF
31-12-2018	micro format	28-11-2019	2019-74400594	PDF
31-12-2017	micro format	11-10-2018	2018-69000590	PDF
31-12-2016	micro format	31-08-2017	2017-57200468	PDF
31-12-2015	full format	30-08-2016	2016-49700177	PDF
31-12-2014	full format	15-06-2015	2015-18500589	PDF
31-12-2013	full format	13-08-2014	2014-43300532	PDF
31-12-2012	full format	31-07-2013	2013-39900047	PDF
31-12-2011	full format	17-08-2012	2012-41200260	PDF
31-12-2010	full format	22-08-2011	2011-42700450	PDF
31-12-2009	full format	30-08-2010	2010-50200268	PDF
31-12-2008	full format	31-07-2009	2009-52500335	PDF
31-12-2007	full format	27-08-2008	2008-63200219	PDF
31-12-2006	full format	29-08-2007	2007-69200148	PDF
31-12-2005	full format	31-07-2006	2006-58103067	PDF
31-12-2004	full format	19-07-2005	2005-51604279	PDF
30-12-2003	full format	04-06-2004	2004-20004117	PDF
30-12-2002	full format	07-07-2003	2003-35300186	PDF
30-12-2001	full format	18-07-2002	2002-39800867	PDF
30-12-2000	full format	17-07-2001	2001-38300068	PDF
30-12-1999	full format	30-06-2000	2000-30700010	PDF
30-12-1998	full format	07-07-1999	1999-29903383	PDF
30-12-1997	full format	16-06-1998	1998-17103335	PDF
30-12-1996	full format	07-07-1997	1997-26604035	PDF
30-12-1995	full format	02-07-1996	1996-27102817	PDF
30-12-1994	full format	20-06-1995	1995-26404036	PDF
30-12-1993	full format	01-07-1994	1994-25204645	PDF
30-12-1992	full format	18-06-1993	1993-14304698	PDF
30-12-1991	full format	03-09-1992	1992-30600909	PDF
30-12-1990	full format	19-06-1991	1991-10800011	PDF
30-12-1989	full format	03-07-1990	1990-14401341	PDF
30-12-1988	full format	21-08-1989	1989-20600391	PDF
30-12-1987	full format	05-07-1988	1988-14004651	PDF
30-12-1986	full format	07-07-1987	1987-16000145	PDF
31-12-1985	full format	03-07-1986	1986-24601765	PDF
30-12-1984	full format	22-07-1985	1985-26001600	PDF
30-12-1983	unclassified schema	31-07-1984	1984-11500287	PDF
30-12-1982	unclassified schema	24-06-1983	1983-06900528	PDF
30-12-1981	unclassified schema	23-06-1982	1982-06400835	PDF
31-12-1980	unclassified schema	14-08-1981	1981-10500004	PDF
30-12-1979	unclassified schema	08-07-1980	1980-08401699	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
207,446	256,484	173,827	164,042	142,915	-20,328	24,181	52,306	82,800	118,673	147,210	89,818	124,118	145,610	215,550	93,077	144,212	129,834	165,830	203,768
174,190	231,855	147,992	141,928	136,461	-49,865	54,085	53,162	66,129	96,412	104,223	76,292	138,620	120,728	169,258	91,501	143,165	137,327	155,961	179,035
887	22,896	66,641	94,166	332,175	322,989	729,567	906,337	18,335	69,935	2,168	101,693	5,033	3,209	3,249	19,468	1,023	12,119	1,045	87,079
-35,033	114,666	-8,758	6,059	-14,604	-126,322	-73,359	-151,798	-62,897	40,427	-99,944	-98,763	99,412	84,318	160,829	49,095	60,063	-54,458	82,951	-
-46,807	-124,085	-134,431	-134,819	-86,573	61,943	243,555	284,483	476,433	484,310	524,381	589,776	609,419	651,984	554,533	385,086	313,053	190,305	123,171	85,872
-	-	-	-	-	-	-	-	-	-	-	-	-	36.0%	48.4%	-	-	-	-	-
13.0%	12.4%	14.5%	15.6%	16.7%	17.6%	28.5%	44.3%	81.9%	79.0%	84.0%	89.8%	88.4%	95.8%	89.6%	92.3%	91.9%	84.9%	74.7%	68.3%
0.83	0.71	0.60	0.61	0.72	1.17	3.70	2.89	3.75	3.24	4.58	7.90	6.89	27.92	8.80	12.88	10.79	3.66	1.92	1.79
6.71	7.09	5.89	5.42	4.98	4.69	2.50	1.26	0.22	0.27	0.19	0.11	0.13	0.04	0.12	0.08	0.09	0.18	0.34	0.46
-8.8%	14.9%	-14.1%	-12.3%	-6.9%	-42.9%	-13.1%	-13.7%	1.9%	5.7%	8.2%	3.7%	10.6%	7.5%	13.2%	5.7%	9.0%	-1.7%	0.0%	2.9%
-1.1%	1.8%	-2.0%	-1.9%	-1.1%	-7.5%	-3.7%	-6.1%	1.5%	4.5%	6.9%	3.3%	9.4%	7.2%	11.8%	5.3%	8.2%	-1.5%	0.0%	2.0%
8.94	10.47	6.12	5.81	4.55	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	24 days	24 days	-	-	-	-	-
-	-	-	-	-	-	-	-	-	-	-	-	-	53 days	63 days	-	-	-	-	-

EBIT margin: not included in this filing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	€22,896	€66,641	€94,166	€332,175
Financial fixed assets	€887	-	-	-	-
	€194,720	€193,933	€191,715	€185,270	€163,651

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on Belgotrust

The operating result for 2025 is 80% lower than in 2024.

Debt's share of the balance-sheet total falls from 87.6% to 87.0%. Equity and debt are lower.

Large changes and their cause

2021 Net result +85% on 2020. The accounts now follow the full format, last year the micro format.

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Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency13.0%

Current ratio0.83

Return on assets-1.1%

Staff

Staff cost per FTE

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on Belgotrust

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in euro

in euro

13.0%

0.83

-1.1%