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Belgotrust

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

Lifetime

20 annual accounts with figures on one time axis, 47 filings since 1979
peak €300,681 (2024)
€270,198▼ 10.1%
lowest -€181,936 (2020)
-€20,531▼ €58,453
peak €1.1m (2012)
€234,001▼ 8.1%
€1.6m▼ 13.0%
peak 0.5 FTE (2019)
-not published
Board3 names since 2021
3 directorsGODU Jean-Paul and 2 others
Documentsfilings and deeds
25-08-202625 days late
2025financial year
Loss of €20,531

Key points

from the 2025 annual accounts

Equity

€234,001 from €1.1m in 2012

Equity fell by 78% in 13 years.

Result

-€20,531 -€20,531
€37,9002024-€20,5002025

From profit to loss in 2025, after a profit of €37,922 in 2024.

Turnover

≈ €300,000 estimated

The accounts state no turnover.

Debts

€1.6m 87% of the balance sheet
Financial debts 78%Suppliers 3%Taxes and wages 0%Other 19%

Of this, €283,071 falls due within a year.

Filings

47 annual accounts since 1979
AprilJune31 JulyOctober1980199520102025

Ten of the last ten came late. The 2023 accounts came latest: 433 days after the end of the period.

Checked score

85
Excellent
Financially stronger than 44% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 2.8% 01-2025: 4.6%▲ +1.8 percentage points vs 12-2024 02-2025: 4.6%● unchanged vs 01-2025 03-2025: 4.7%▲ +0.1 percentage points vs 02-2025 04-2025: 4.2%▼ -0.5 percentage points vs 03-2025 05-2025: 4.2%● unchanged vs 04-2025 06-2025: 4.2%● unchanged vs 05-2025 07-2025: 4.2%● unchanged vs 06-2025 08-2025: 5.6%▲ +1.4 percentage points vs 07-2025highest value 09-2025: 5.6%● unchanged vs 08-2025highest value 10-2025: 5.6%● unchanged vs 09-2025highest value 11-2025: 0.3%▼ -5.3 percentage points vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025lowest value 02-2026: 0.3%● unchanged vs 01-2026 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026 07-2026: 0.4%▲ +0.1 percentage points vs 06-2026 08-2026: 0.6%▲ +0.2 percentage points vs 07-2026 09-2026: 0.3%▼ -0.3 percentage points vs 08-2026 10-2026: 0.3%● unchanged vs 09-2026 11-2026: 0.3%● unchanged vs 10-2026

Financial strength
Average

38+1equity 13.0% of total assets
53+2short-term debt 15.7% · cash 4.9%
67-4return on assets -1.1%

Score breakdown

raises risk
Last filed accounts filed 25 days late; 2 of the last 3 accounts late
Liquidity: current ratio 0.83, cash €88,525
Equity €234,001 (13.0% of total assets)
lowers risk
Size: total assets €1.8m
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 34% of them on solvency, 61% on liquidity, 54% on profitability and 30% on growth.

The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 2,507 companies had the same profile as Belgotrust has now. Each dot stands for 7 companies, two years later.

96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
  • Small
  • 20 years or older
  • solvency 10 to 30%
  • a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of Belgotrust itself: 0.3% within 12 months.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 2,507 companies, not a prediction for Belgotrust. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €19,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.83 (0.71 in 2024), below 1. Short-term debt is 15.7% and cash 4.9% of total assets. 87% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
lowers risk · Size: total assets €1.8m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Last filed accounts filed 25 days late; 2 of the last 3 accounts late
NBB · filings
raises risk · Liquidity: current ratio 0.83, cash €88,525
NBB · annual accounts
raises risk · Equity €234,001 (13.0% of total assets)
NBB · annual accounts
raises risk · 2025 accounts filed 25 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
25 days late
2024
68 days late
2023
433 days late
2022
238 days late
2021
85 days late
2020
208 days late
2019
174 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 176 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 October (4 of the last 5 accounts filed within 153 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

GJ
GODU Jean-Paul
Chair
GJ
GODU Jonas-Benjamin
Managing director
VB
VERMOESEN Brigitte
Director, since 28-12-2023
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 9925:BE0418809178
1 director resigning, 3 reappointments Changes of role: GODU Jonas-Benjamin (managing director) and GODU Jean-Paul (chair of the board) · Resignation: VERMOESEN Brigitte · Reappointments: GODU Jonas-Benjamin, GODU Jean-Paul and VERMOESEN Brigitte · General meeting of 28-12-2023 · Gazette deed
First establishment Zuidstraat 165, Brussels
All 58 events

Comparable companies

same main activity, similar in size and age
Company
Belgotrust Brussels €1.8m €270,198 13.0% -
RAUWERS - IMMOBILIA Brussels €1.8m €262,348 -5.9% -
FORIERS ASSOCIATES AND COMPANY Brussels €1.6m €210,501 67.8% -
LDC PROPERTIES Waterloo €1.9m €231,692 27.7% -
PRECAST BUILDING DESIGN Beersel €1.6m €238,609 98.7% -
MIDDELHOF Deerlijk €1.6m €271,955 91.3% -
JOVIM Waregem €2.0m €281,654 30.7% -

These companies have the same main activity as Belgotrust: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €1.6m and €2m, founded between 1977 and 1986.

Official details

Source: KBO
Status
Active since 23-10-1978Normal situation
Registered office
14 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 9 November 2026.
Activity
Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
Establishment unit
2.015.601.5031000 Brussels, since 01-12-1978
Financial year end
31 December
Peppol
Reachable since 18-03-2026
Company details

Annual accounts 2025

€270,198▼ 10.1%
€20,531
€234,001▼ 8.1%
€1.8m▼ 12.4%
Filing
Filed on 25-08-2026
Financials

Insights on Belgotrust

Belgotrust has existed since 1978. The present size dates from 2021. The gross margin rose that year from €38,868 to €217,805.

In January 2024, the Official Gazette published the appointment of GODU Jean-Paul as managing director.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

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

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 Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 1.8m2.1m2.1m2.3m2.4m2.4m2.1m1.6m1.1m1.2m1.1m1.1m1.1m1.1m1.1m916,793868,166855,571988,3451.1m
21/28 1.6m1.8m1.9m2.1m2.1m2.0m1.8m1.2m438,103469,178430,993456,801393,936423,998462,035499,301523,127593,694731,442886,350
22/27 1.6m1.8m1.9m2.1m2.1m2.0m1.8m1.2m436,346467,421429,236455,545392,679422,742460,779498,044521,870592,437730,185885,093
22 864,405888,241912,076935,912959,747983,5831.0m1.0m390,273418,434416,912442,178378,340396,400418,570430,241462,912485,082507,253528,610
23 21,55527,31133,06640,83248,74956,794779,107139,2049,99911,73311,31612,80812,62322,97433,00753,14957,00485,027181,752294,688
24 ---1051,0332,35478718,43236,07536,9083155581,7163,3689,20214,6541,9542,3101,1451,743
26 678,860843,989985,4351.1m1.1m935,500--------------
28 2,2991,4121,7571,7571,7571,7571,7571,7571,7571,7571,7571,2571,2571,2571,2571,2571,2571,2571,2571,257
29/58 236,264297,800200,598209,936223,437431,186333,709434,748649,544700,328670,836675,216712,804676,204625,613417,492345,039261,877256,903195,010
29 --74,89474,89465,35765,35765,35765,357134,000134,000134,00030,000--12,7055,00810,18715,062--
290 --------------12,7055,00810,18715,062--
291 --74,89474,89465,35765,35765,35765,357134,000134,000134,00030,000--------
40/41 142,739174,242106,274107,140134,645294,71069,23238,01835,25520,61030,61441,37540,83945,59167,89734,52142,92436,44743,20657,163
40 47,614106,08545,58342,13053,461213,64912,68812,31810,226660--18,60019,39923,462-11,13211,13220,17243,387
41 95,12568,15760,69065,01081,18481,06156,54425,69925,02919,95030,61441,37522,23926,19144,43534,52131,79225,31523,03413,776
50/53 ----9,91240,37440,37498,42399,13999,23099,15099,15069,310127,987127,987121,84083,50855,770--
54/58 88,525123,5588,89217,64911,59026,195152,517225,876377,675440,572400,144500,089598,852499,440415,122254,293205,198145,135199,593116,642
490/1 5,000-10,53910,2511,9344,5516,2297,0753,4755,9166,9274,6023,8033,1871,9031,8303,2229,46314,10421,205
Balance sheet: equity and liabilities
10/49 1.8m2.1m2.1m2.3m2.4m2.4m2.1m1.6m1.1m1.2m1.1m1.1m1.1m1.1m1.1m916,793868,166855,571988,3451.1m
10/15 234,001254,532309,575353,298396,640423,830605,766720,348891,185924,466925,0511.0m978,6911.1m974,685845,941797,734726,159738,699738,691
10/11 165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000
10 165,000165,000165,000165,000165,000---------------
100 165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000165,000
13 555,422555,422610,466610,466610,466610,466610,466647,805720,061753,342753,342567,500567,500666,500666,500666,500616,500561,159566,500566,500
130/1 16,50016,50016,50016,50016,50016,50092,966130,305202,561185,842185,842---------
130 16,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,50016,500
1319 ------92,966130,305202,561185,842185,842---------
133 538,922538,922593,966593,966593,966593,966501,000501,000501,000551,000551,000551,000551,000650,000650,000650,000600,000544,659550,000550,000
14 -486,421-465,891-465,891-422,168-378,826-351,636-169,700-92,4586,1246,1246,709283,656246,191222,667143,18514,44116,234-7,1997,191
17/49 1.6m1.8m1.8m1.9m2.0m2.0m1.5m907,097196,462245,040176,778115,862128,04946,036112,96470,85270,432129,412249,646342,669
17 1.3m1.4m1.5m1.6m1.7m1.6m1.4m756,83223,35129,02230,32230,42224,66421,81641,88438,44638,44657,457115,665231,606
170/4 1.2m1.3m1.4m1.5m1.6m1.6m1.4m734,446---------19,01179,619194,100
178/9 52,91752,91745,56443,21032,35122,13122,13122,38623,35129,02230,32230,42224,66421,81641,88438,44638,44638,44636,04637,506
42/48 283,071421,884335,029344,755310,010369,24390,154150,264173,111216,018146,45585,439103,38524,22071,08032,40631,98671,572133,732109,138
42 102,923101,33299,76798,22596,70880,689----------19,01160,60891,69736,921
43 ----------------2,7083,672-39,832
430/8 ----------------2,7083,672-39,832
44 52,686133,13848,04046,74979,142240,56051,98737,39316,86244,40915,94062,40917,20916,11221,07631,6168,1826,6468,20929,727
440/4 52,686133,13848,04046,74979,142240,56051,98737,39316,86244,40915,94062,40917,20916,11221,07631,6168,1826,6468,20929,727
45 2208,2497,47118,90710,2655,1112,69413,31853,38638,74548,28320,2473,1585,99649,881442-40833,633-
450/3 2208,2497,47114,7026,0603,2232,6949,02653,38638,74548,28320,2473,1585,99649,881442-4089,633-
454/9 ---4,2054,2051,888-4,292----------24,000-
47/48 127,242179,165179,751180,874123,89542,88435,47399,554102,863132,86382,2322,78483,0182,1121233482,0852381932,658
492/3 11,5984,70016,7132628,9041,423-----------3832491,925
Income statement
70 -------------290,299361,603-----
9900 270,198300,681229,857214,324217,80538,86892,497111,126119,093155,311179,403127,819154,594180,329244,568129,524173,773159,533203,199235,960
60/61 -------------109,969121,235-----
62 -----1,35321,42923,732------------
630 194,720193,933191,715185,270163,651132,071133,194151,74349,41043,72827,97738,82835,09541,24640,51543,29471,590149,867155,953157,452
640/8 62,75244,19756,03050,28274,89057,84346,88835,08736,29236,63832,19338,00130,47634,72029,01836,44729,56129,69937,36932,192
9901 12,72662,551-17,888-21,228-20,736-152,399-109,013-99,43733,39074,946119,23350,99089,023104,363175,03549,78372,622-20,0339,87746,316
75/76B 4,2993,8803,0056,42025,3694,04141,0896,28447211,6613,8356,27338,5578,9689,6356,7564,4566,3251,9961,345
75 4,2993,8803,0056,42025,3694,04141,0896,28447211,6613,8356,27338,5578,9689,6356,7564,4566,3251,9961,345
65/66B 23,19324,50128,40628,23431,37632,99818,5814,5101,8351,4071,6841,2871,2642,8941,4143,4165,3878,75111,86510,874
65 23,19324,50128,40628,23431,37632,99818,5814,5101,8351,4071,6841,2871,2642,8941,4143,4165,3878,75111,86510,874
9903 -6,16841,930-43,289-43,042-26,743-181,356-86,505-97,66332,02785,200121,38455,976126,315110,438183,25653,12371,691-22,459836,787
67/77 14,3634,007434300447580-7,39691915,30832,51545,13718,51222,79030,95654,5134,916116-9,919-15,204
9904 -20,53137,922-43,723-43,342-27,190-181,936-79,109-98,58116,71952,68476,24637,465103,52479,482128,74348,20771,575-12,540821,583
9905 -20,53137,922-43,723-43,342-27,190-181,936-79,109-98,58116,71952,68476,24637,465103,52479,482128,74348,20771,575-12,540821,583
Appropriation of the result
9906 -486,421-427,968-465,891-422,168-378,826-351,636-171,567-92,45822,84359,393242,437283,656326,191222,667143,18564,44171,575-5,3417,19957,191
14P -465,891-465,891-422,168-378,826-351,636---------------
791/2 ------37,34072,25650,000---99,000----5,341--
691/2 -37,922------16,719-155,728----50,00055,341--50,000
6921 -37,922------16,719-155,728----50,00055,341--50,000
694/7 ------35,47372,25650,00053,27080,000-179,000-------
694 ------35,47372,25650,00050,00080,000-179,000-------
695 ---------3,270----------
Social balance sheet
9087 ------0.5-------------
Hours worked1013 ------912-------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

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.

Download as CSV

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
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
207,446256,484173,827164,042142,915-20,32824,18152,30682,800118,673147,21089,818124,118145,610215,55093,077144,212129,834165,830203,768
174,190231,855147,992141,928136,461-49,86554,08553,16266,12996,412104,22376,292138,620120,728169,25891,501143,165137,327155,961179,035
88722,89666,64194,166332,175322,989729,567906,33718,33569,9352,168101,6935,0333,2093,24919,4681,02312,1191,04587,079
-35,033114,666-8,7586,059-14,604-126,322-73,359-151,798-62,89740,427-99,944-98,76399,41284,318160,82949,09560,063-54,45882,951-
-46,807-124,085-134,431-134,819-86,57361,943243,555284,483476,433484,310524,381589,776609,419651,984554,533385,086313,053190,305123,17185,872
-------------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%
0.830.710.600.610.721.173.702.893.753.244.587.906.8927.928.8012.8810.793.661.921.79
6.717.095.895.424.984.692.501.260.220.270.190.110.130.040.120.080.090.180.340.46
-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%
8.9410.476.125.814.55---------------
-------------24 days24 days-----
-------------53 days63 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
Item20252024202320222021
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.

Board & ownership

Board

3 directors, 2 in day-to-day management, last change in 2024
GODU Jean-Paul
Chair of the board, director (not named in the articles) and managing director
chair of the board appointed by deed of 10-01-2024 director (not named in the articles) since 28-12-2023 term until 15-05-2029
earlier director, until 10-01-2024
listed in the 2025 annual accounts, filed on 25-08-2026
GODU Jonas-Benjamin
Director (not named in the articles) and managing director
director (not named in the articles) since 28-12-2023 managing director appointed by deed of 10-01-2024 6-year term from 2024
earlier director, until 10-01-2024
listed in the 2025 annual accounts, filed on 25-08-2026
VERMOESEN Brigitte
Director (not named in the articles)
since 28-12-2023 6-year term from 2024
earlier director, until 10-01-2024
listed in the 2025 annual accounts, filed on 25-08-2026
GODU Jean-Paul, GODU Jonas-Benjamin
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 20: Représentation de la société 1. Tous les actes qui engagent la société, en justice et dans tous les actes, sont valables s’ils…”
deed of 10-01-2024

Office holders in the KBO →

Mandates through the years

3 names, the dashed line is today
GODU Jean-Paul
Director (not named in the articles), Chair of the board, Managing director
GODU Jonas-Benjamin
Director (not named in the articles), Managing director
VERMOESEN Brigitte
Director (not named in the articles)
LeadershipBoardEarlierRest of the termmandate already running before its first mention
Mandates as a list
  • GODU Jean-Paul
    • Director (not named in the articles), since before 31-12-2021
    • Director, until 10-01-2024
    • Chair of the board, appointed by deed of 10-01-2024, still in office
    • Managing director, appointed by deed of 10-01-2024, still in office
  • GODU Jonas-Benjamin
    • Director (not named in the articles), since before 31-12-2021
    • Director, until 10-01-2024
    • Managing director, appointed by deed of 10-01-2024, still in office
  • VERMOESEN Brigitte
    • Director (not named in the articles), since before 31-12-2021
    • Director, until 10-01-2024

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Capital
€165,000
Shares
660
Contribution per share
€250
Equity per share
€355 in 2025
Source
deed of 10-01-2024

Articles of association

deed of 10-01-2024 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 3 directors
At most 5 directors
“Composition du conseil d'administration, administrateurs restants ont droit de coopter nouvel administrateur”
“Rémunération des administrateurs, si et dans quelle mesure mandat rémunéré par indemnité fixe ou variable”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Tuesday of May
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Pouvoirs liquidateurs, compétents pour toutes opérations prévues par loi sauf décision contraire AG majorité voix”

Network & group

No group

Belgotrust has no parent and no holdings in its annual accounts. Belgotrust shares no director with another company.

At the same address

Zuidstraat 165, 1000 Brussels · 13 other companies
Atelier de Recherche et d'Action urbaines
registered office since 01-01-2008 · founded in 1975
 total assets €190,924 (2025)
0415.552.849
PHILAGODU
registered office since 06-12-2011 · founded in 2011
 turnover €34,748 (2025)
0841.595.754
GMJ Construct
registered office since 01-07-2019 · founded in 2019
 total assets €102,130 (2021)
0727.944.517
BXL MOTION
registered office since 01-06-2022 · founded in 2022
 total assets €45,526 (2025)
0786.503.516
Portier, Charlotte (sole trader)
establishment since 02-10-2026
 founded in 2026
1042.806.022
Chouteau, Thomas (sole trader)
establishment since 01-10-2026
 founded in 2026
1041.384.872
Carta, Clément (sole trader)
establishment since 01-04-2025
 founded in 2025
1020.630.337
Etienne, Laure (sole trader)
establishment since 14-01-2025
 founded in 2025
0702.835.967
Saubry, Mohamed (sole trader)
establishment since 01-12-2024
 founded in 2024
1012.374.845
MAISON MEDICALE DU MIDI
registered office since 03-01-2022
 founded in 2014
0567.849.480
and 3 more

Timeline

Timeline

58 events since 1978

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 25 days late
Registered in the Peppol Directory Reachable for e-invoices through 9925:BE0418809178
2025
Annual accounts 2023 filed PDFfull format · 433 days late
Annual accounts 2024 filed PDFfull format · 68 days late
2024
Back to profit net €37,922 The net result is €37,922, after 6 loss-making years.
Annual accounts 2022 filed PDFfull format · 238 days late
1 director resigning, 3 reappointmentsChanges of role: GODU Jonas-Benjamin (managing director) and GODU Jean-Paul (chair of the board) · Resignation: VERMOESEN Brigitte · Reappointments: GODU Jonas-Benjamin, GODU Jean-Paul and VERMOESEN Brigitte · General meeting of 28-12-202315 points ▸

Open the deed in the Belgian Official Gazette

2022
Annual accounts 2021 filed PDFfull format · 85 days late
Annual accounts 2020 filed PDFmicro format · 208 days late
2021
Annual accounts 2019 filed PDFmicro format · 174 days late
2020
Weakest financial year net -€181,936 The net result drops to -€181,936, the lowest from 2006 to 2025. It recovers the following year.
2019
Annual accounts 2018 filed PDFmicro format · 120 days late
2018
Annual accounts 2017 filed PDFmicro format · 72 days late
2017
Annual accounts 2016 filed PDFmicro format · 31 days late
2016
Annual accounts 2015 filed PDFfull format · 30 days late
2015
Annual accounts 2014 filed PDFfull format · 46 days before the deadline
2014
Annual accounts 2013 filed PDFfull format · 13 days late
2013
Annual accounts 2012 filed PDFfull format · on the deadline day
2012
Liquidity more than triples current ratio 27.92 The current ratio rises from 8.80 to 27.92. Short-term debt falls from €71,080 to €24,220.
Equity above €1m equity €1.1m ▲8.2% After 4 profitable years in a row, equity reaches €1.1m.
Annual accounts 2011 filed PDFfull format · 17 days late
2011
Highest result from 2006 to 2025 net €128,743 ▲167% The operating result of €175,035 and the net result of €128,743 are both a record.
Annual accounts 2010 filed PDFfull format · 22 days late
2010
Annual accounts 2009 filed PDFfull format · 30 days late
2009
Back to profit net €71,575 The net result is €71,575, after one loss-making year.
Liquidity more than doubled current ratio 10.79 The current ratio rises from 3.66 to 10.79. Short-term debt falls from €71,572 to €31,986.
Annual accounts 2008 filed PDFfull format · on the deadline day
2008
Annual accounts 2007 filed PDFfull format · 27 days late
2007
Annual accounts 2006 filed PDFfull format · 29 days late
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1993
Annual accounts 1992 filed PDFfull format
1992
Annual accounts 1991 filed PDFfull format
1991
Annual accounts 1990 filed PDFfull format
1990
Annual accounts 1989 filed PDFfull format
1989
Annual accounts 1988 filed PDFfull format
1988
Annual accounts 1987 filed PDFfull format
1987
Annual accounts 1986 filed PDFfull format
1986
Annual accounts 1985 filed PDFfull format
1985
Annual accounts 1984 filed PDFfull format
1984
Annual accounts 1983 filed PDFunclassified schema
1983
Annual accounts 1982 filed PDFunclassified schema
1982
Annual accounts 1981 filed PDFunclassified schema
1981
Annual accounts 1980 filed PDFunclassified schema
1980
Annual accounts 1979 filed PDFunclassified schema
1978
First establishment Zuidstraat 165, Brussels
Incorporation KBO

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 23 October 1978, Belgotrust was incorporated.1 Total assets went from €1.6m in 2018 to €1.8m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0418.809.178
VAT number
BE 0418.809.178
Peppol ID
9925:BE0418809178
LEI code
875500EDEYHFERSINI13 no longer live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
23-10-1978
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Tuesday of May
deed of 10-01-2024 (in French)
Peppol
Reachable since 18-03-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
Belgotrust in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 10-01-2024 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale”
deed of 10-01-2024 (in French)

Activities

NACEBEL 2025
68201 Renting and operating of own or leased residential real estate, excluding social housing main activity
Codes under NACEBEL 2008
68201 Real estate activities main activity
Codes under NACEBEL 2003
70201 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Objet d’art, d’antiquités, tableaux, brocante, timbresposte, monnaie et médailles, tout objet de collection et accessoires pour ceux-ci…”
19 activities
  1. Objet d’art, d’antiquités, tableaux, brocante, timbresposte, monnaie et médailles, tout objet de collection et accessoires pour ceux-ci ;
  2. Articles d’optiques et lunetterie, appareils de mesure ;
  3. Instruments de musique ;
  4. Appareils et accessoires d’électricité et d’éclairage ménager et industriel, matériel électronique, et notamment radio, télévision et haute fidélité, émetteurrécepteurs, antennes et accessoires, computeurs et calculateurs, appareils et matériel de photo, cinéma et d’audio-visuels ;
  5. Matériel de détection et d’alarme ;
  6. Matériel d’étalage et de publicité, enseignes lumineuses ;
  7. Publicité ;
  8. Equipements de bureaux, imprimerie ;
  9. Editions et journaux, librairies, papeteries, souvenirs et cadeaux, jouets, horlogerie, bijouterie, accessoires pour fumeurs, tabacs et alcools ;
  10. Organisation d’activités culturelles et sportives, spectacles et tourisme, jeux et loisirs et promotions de cellesci ;
  11. Articles de sports et e voyage, armes et munitions, surplus militaires ;
  12. Articles de cuir et maroquinerie de fantaisie, chaussures ;
  13. Achat, vente, location, leasing, entretien et démolition de tous véhicules, avions et bateaux et accessoires pour ceuxci ;
  14. Alimentation et grains, semences et épices ;
  15. Agence de location de personnel et d’intérim ;
  16. Entreprise de nettoyage ;
  17. Production d’énergie et de force motrice ;
  18. Prospection et forage ;
  19. Prêt à porter et accessoires de mode pour dame et fillette, homme et garçonnet, mercerie, vêtement et protection pour le travail et l’industrie, textiles tissés et non tissés, soierie ;
deed of 10-01-2024 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Zuidstraat 165 registered office 1000 Brussels 46900 Non-specialised wholesale trade 01-12-1978 2.015.601.503

Buildings and parcels at the address

Ground area
71 m²

Location

registered office establishment The establishment unit on the map
14 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
21809K0065/00G01270 m² - -

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