Belin
ActiveSummary
Belin has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €36,642. Equity is shrinking by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 9436 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+71
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity ample (current ratio 14.83 against 9.55 in 2024; short-term debt: 2.3% and cash: 7.1% of total assets), and 2.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
97.7%
Return on assets
3.2%
Age of the figures
9 mo
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
30 d early
2023
57 d early
2022
62 d early
2021
44 d early
2020
60 d early
2019
45 d early
← 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 44 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 17 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#9 oldest company in Brasschaat, Real estate sector
Equity
€1.1m▲ 3.4%
2024 · €1.1m
Total assets
€1.1m▲ 3.1%
2024 · €1.1m
Net result
€36,642
2024 · -€149,094
Working capital
€353,903▲ 44.0%
2024 · €245,703
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€51,851▲ 30.3%-€60,683▼ 17.0%-€51,327▲ 15.4%-€149,021▼ 190%€36,727
Net result-€52,077below the sector's middle half▲ 33.5%-€61,215below the sector's middle half▼ 17.5%-€36,078below the sector's middle half▲ 41.1%-€149,094below the sector's middle half▼ 313%€36,642within the sector's middle half
Equity€1.7mabove the sector's middle half▼ 2.9%€1.7mabove the sector's middle half▼ 3.5%€1.2mabove the sector's middle half▼ 27.2%€1.1mabove the sector's middle half▼ 12.2%€1.1mwithin the sector's middle half▲ 3.4%
Total assets€1.7mabove the sector's middle half▼ 2.8%€1.7mabove the sector's middle half▼ 2.1%€1.6mabove the sector's middle half▼ 3.6%€1.1mabove the sector's middle half▼ 33.0%€1.1mwithin the sector's middle half▲ 3.1%
Debt€4,241▲ 115%€29,191▲ 588%€421,418▲ 1,344%€28,753▼ 93.2%€25,594▼ 11.0%
Working capital€696,987above the sector's middle half▲ 4.0%€711,031above the sector's middle half▲ 2.0%€326,294above the sector's middle half▼ 54.1%€245,703above the sector's middle half▼ 24.7%€353,903within the sector's middle half▲ 44.0%
Solvency99.8%above the sector's middle half▼ 0.1pp98.3%above the sector's middle half▼ 1.5pp74.3%above the sector's middle half▼ 24.0pp97.4%above the sector's middle half▲ 23.1pp97.7%above the sector's middle half▲ 0.4pp
Current ratio25.36above the sector's middle half1.77within the sector's middle half▼ 23.589.55above the sector's middle half▲ 7.7714.83above the sector's middle half▲ 5.28
Return on assets (ROA)-3.0%below the sector's middle half▲ 1.4pp-3.6%below the sector's middle half▼ 0.6pp-2.2%within the sector's middle half▲ 1.4pp-13.6%below the sector's middle half▼ 11.4pp3.2%within the sector's middle half▲ 16.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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
The operating result returns to profit in 2025: €36,727 after a loss of €149,021 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€751,615 ▼ 8.7%
Current assets
€379,497 ▲ 38.3%
Equity and liabilities €1.1m
Equity
€1.1m ▲ 3.4%
Debt
€25,594 ▼ 11.0%
Debt's share of the balance-sheet total falls from 2.6% to 2.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€108,285▲
2024 · -€71,535
Cash flow
€108,200▲
2024 · -€71,608
Debt to equity
0.02▼
2024 · 0.03
ROE
3.3%▲
2024 · -13.9%
Interest coverage
1273.79▲
2024 · -199.23
Debt ≤ 1 year
€25,594▼
2024 · €28,753
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 14,732 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €80,554 | €76,773 | €77,313 | €77,485 | €71,558 | ▼ 7.7% |
| Other operating charges640/8 | €6,938 | €5,767 | €6,101 | €7,736 | €2,557 | ▼ 66.9% |
| Gross operating margin9900 | €35,642 | €21,858 | €32,087 | -€63,799 | €110,843 | ▲ 274% |
| Operating profit (loss)9901 | -€51,851 | -€60,683 | -€51,327 | -€149,021 | €36,727 | ▲ 125% |
| Financial income75/76B | - | - | €16,096 | €286 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €16,096 | €286 | €0 | ▼ 100% |
| Financial charges65/66B | €80 | €383 | €846 | €359 | €85 | ▼ 76.3% |
| Recurring financial charges65 | €80 | €383 | €846 | €359 | €85 | ▼ 76.3% |
| Profit (loss) for the period before taxes9903 | -€51,931 | -€61,066 | -€36,078 | -€149,094 | €36,642 | ▲ 125% |
| Income taxes67/77 | €146 | €149 | - | - | - | - |
| Profit (loss) for the period9904 | -€52,077 | -€61,215 | -€36,078 | -€149,094 | €36,642 | ▲ 125% |
| Profit (loss) for the period to be appropriated9905 | -€52,077 | -€61,215 | -€36,078 | -€149,094 | €36,642 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.6m | €1.1m | €1.1m | ▲ 3.1% |
| Fixed assets21/28 | €1.0m | €961,016 | €891,675 | €823,173 | €751,615 | ▼ 8.7% |
| Tangible fixed assets22/27 | €1.0m | €961,016 | €891,675 | €823,173 | €751,615 | ▼ 8.7% |
| Land and buildings22 | €1.0m | €951,584 | €884,364 | €814,413 | €743,431 | ▼ 8.7% |
| Plant, machinery and equipment23 | €1,338 | €1,003 | €669 | €334 | €0 | ▼ 100% |
| Furniture and vehicles24 | €2,060 | €2,228 | €442 | €2,225 | €1,984 | ▼ 10.8% |
| Other tangible fixed assets26 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Current assets29/58 | €701,228 | €740,222 | €747,712 | €274,456 | €379,497 | ▲ 38.3% |
| Amounts receivable within one year40/41 | €482,817 | €437,306 | €540,376 | €157,650 | €299,220 | ▲ 89.8% |
| Trade receivables40 | €18,000 | €49,260 | €18,705 | €7,260 | €148,830 | ▲ 1,950% |
| Other amounts receivable41 | €464,817 | €388,046 | €521,671 | €150,390 | €150,390 | = |
| Cash at bank and in hand54/58 | €218,411 | €302,916 | €207,337 | €116,806 | €80,277 | ▼ 31.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.6m | €1.1m | €1.1m | ▲ 3.1% |
| Equity10/15 | €1.7m | €1.7m | €1.2m | €1.1m | €1.1m | ▲ 3.4% |
| Contributions10/11 | €62,080 | €62,080 | €62,080 | €62,080 | €62,080 | = |
| Capital10 | €62,080 | €62,080 | €62,080 | €62,080 | €62,080 | = |
| Issued capital100 | €62,080 | €62,080 | €62,080 | €62,080 | €62,080 | = |
| Reserves13 | €1.7m | €1.6m | €1.2m | €1.0m | €1.0m | ▲ 3.6% |
| Non-distributable reserves130/1 | €27,888 | €27,888 | €27,888 | €27,888 | €27,888 | = |
| Legal reserve130 | €27,888 | €27,888 | €27,888 | €27,888 | €27,888 | = |
| Distributable reserves133 | €1.6m | €1.6m | €1.1m | €978,908 | €1.0m | ▲ 3.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | - | - |
| Amounts payable17/49 | €4,241 | €29,191 | €421,418 | €28,753 | €25,594 | ▼ 11.0% |
| Amounts payable within one year42/48 | €4,241 | €29,191 | €421,418 | €28,753 | €25,594 | ▼ 11.0% |
| Trade debts44 | - | €536 | €460 | €533 | €0 | ▼ 100% |
| Suppliers440/4 | - | €536 | €460 | €533 | €0 | ▼ 100% |
| Advances received on contracts in progress46 | - | €25,410 | - | - | - | - |
| Taxes, remuneration and social security45 | €4,241 | €3,245 | €23,858 | €6,120 | €7,560 | ▲ 23.5% |
| Taxes450/3 | €4,241 | €3,245 | €23,858 | €6,120 | €7,560 | ▲ 23.5% |
| Other amounts payable47/48 | - | - | €397,100 | €22,100 | €18,034 | ▼ 18.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€52,077 | -€61,215 | -€36,078 | -€149,094 | €36,642 | ▲ 125% |
| + Depreciation and write-downs630 | €80,554 | €76,773 | €77,313 | €77,485 | €71,558 | ▼ 7.7% |
| Operating cash flow (approximation) | €28,477 | €15,558 | €41,236 | -€71,608 | €108,200 | ▲ 251% |
| Investment in fixed assets (approximation) | - | -€1,514 | -€7,972 | -€8,983 | €0 | ▲ 100% |
| Change in cash | - | €84,505 | -€95,579 | -€90,531 | -€36,529 | ▲ 59.7% |
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
02-09
State Gazette act
Resignation: BRENNER Heidemarie (director)Appointment: MAAS Reiner (sole director) · Statutes amendment · Capital8 facts ▸
State Gazette act
Resignation: BRENNER Heidemarie (director)
Appointment: MAAS Reiner (sole director) · Statutes amendment · Capital8 facts ▸
- General meeting, buitengewone algemene vergadering
- Statutes amendment
- Statutes amendment
- Capital, €62.080,22
- Registered office clause, 2930 Brasschaat, Baillet-Latourlei 118
- Director resignation, BRENNER Heidemarie (director)
- Director appointment, MAAS Reiner (sole director)
- Declaration, single shareholder declaration, De enige aandeelhouder heeft in de akte de verklaring overeenkomstig artikel 2:8 § 4 van het Wetboek van vennootschappen en vere…
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €36,642
Net result €36,642 after 6 loss-making years.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€149,094
Net result drops to -€149,094, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 9.55
Current ratio from 1.77 to 9.55; short-term debt falls from €421,418 to €28,753.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 52current ratio 341.46
Current ratio from 6.55 to 341.46; short-term debt falls from €119,251 to €1,968.
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
MAAS Reiner
CurrentSole director · since 07-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brasschaat · 1 establishment unit since 1984
Ground area
5,636 m²
Building footprint
380 m²
Volume, LiDAR
1,913 m³
Parcel 11322E0071/00W000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Baillet-Latourlei 118, 2930 Brasschaat
since 19842.024.620.226
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11322E0071/00W000 | Flanders | 5,636 m² | 1 · 380 m² | 9.1 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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MAAS Reiner |
|
| BRENNER Heidemarie |
|
Articles of association
Who signs
The sole director
“rechtshande-lingen, jegens derden en in rechtszaken als eiser of als verweer-der. Raad van bestuur Indien er meerdere bestuurders zijn, wordt de vennootschap vertegenwoordigd jegens derden, met inbegrip van de vertegenwoordiging in rechte, door twee bestuurders die gezamenlijk optreden of door een…”
Full text
rechtshande-lingen, jegens derden en in rechtszaken als eiser of als verweer-der. Raad van bestuur Indien er meerdere bestuurders zijn, wordt de vennootschap vertegenwoordigd jegens derden, met inbegrip van de vertegenwoordiging in rechte, door twee bestuurders die gezamenlijk optreden of door een gedelegeerd bestuurder die alleen optreedt. De voorgaande leden doen geen afbreuk aan de algemene vertegenwoordigingsmacht van de raad van bestuur als college. Wanneer de vennootschap optreedt als bestuurder van andere vennootschappen, dan wordt de vennootschap enkel rechtsgeldig vertegenwoordigd door de vaste vertegenwoordiger die alleen handelt.
Annual meeting
Last Friday of May at 17:00
Duration
Unlimited
Purpose
De uitbating van een studie-, organisatie- en raadgevend bureau inzake financiële, commerciële, technische en automatiseringsaangelegenheden; het verlenen van technische of…
Full purpose (6 activities)
- De uitbating van een studie-, organisatie- en raadgevend bureau inzake financiële, commerciële, technische en automatiseringsaangelegenheden; het verlenen van technische of commerciële bijstand en consultancy aan alle Belgische en buitenlandse ondernemingen; het verlenen van financiële bijstand
- Zowel in België als in het buitenland, onder eender welke vorm, participaties te verwerven en aan te houden in vennootschappen en ondernemingen
- Het deelnemen in of de directie voeren over andere vennoot-schappen en ondernemingen; het management en het bestuur van om het even welke ondernemingen en vennootschappen; het optreden als vereffenaar
- Haar patrimonium, bestaande uit onroerende en roerende goede-ren en rechten, te behouden, in de ruimste zin van het woord te beheren en oor-deelkundig uit te breiden
- De aankoop, verhuur, onderhoud en verkoop van alle roerende goederen - desgevallend ten behoeve van eigen handelsverrichtingen of voor handelsverrichtingen van derden - zoals alle soorten materieel, gereedschappen, machines, installaties en computers, soft- en hardware
- Het aanvragen, verwerven, verhandelen en exploiteren van li-centies, octrooien, merken en dergelijke
Legal form clause
Registered office clause
Vlaams Gewest
Transfer restriction
De in de statuten opgelegde regelingen, overdracht van aandelen
Board rule
Onbepaalde duur tenzij in benoemingsbesluit anders bepaald, enig bestuurder
Raad van bestuur, overblijvende bestuurders voorzien voorlopig in vacature
6, algemene vergadering
Rechtspersoon als bestuurder, benoemt een vaste vertegenwoordiger overeenkomstig wettelijke bepalingen
Alle handelingen nodig of dienstig tot verwezenlijking van het voorwerp, bevoegdheid enig bestuurder
In college, alle handelingen nodig of dienstig tot verwezenlijking van het voorwerp
1 more provision on this in the deed
Other statement
Indien de algemene vergadering in de toekomst bijkomende bestuurders zou benoemen – en aldus besluit tot overschakeling naar het bestuursmodel met een raad van…
2 more provisions on this in the deed
Meeting access
Om te worden toegelaten, moeten de aandeelhouders en de andere effectenhouders die het recht hebben de vergadering bij te wonen, de raad van bestuur tenminste v…
Dissolution rule
In geval van ontbinding zal de algemene vergadering de wijze van vereffening bepalen overeenkomstig de wettelijke bepalingen, Bij gebreke van benoeming van vere…
Liquidation distribution
Na aanzuivering van alle schulden, lasten en kosten van de vereffening of consignatie van de nodige sommen om die te voldoen en, indien er aandelen zijn die nie…
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Shareholding
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Capital and shareholders
Capital over the years
- 02-09-2026 Capital stated in the act · 62,080.22 EUR · 1,125 shares
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Company details
Identification
Legal formPublic limited company
Founded10-04-1984
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426768128
Also
9925:BE0426768128
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.