BELLAM
ActiveSummary
BELLAM has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of €447,129. Equity is growing by ~14.2% per year across the filed fiscal years. Its solvency ranks better than 64% of 465 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+18
Solvency86▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200,000 at 30 days acceptable
Liquidity short (current ratio 0.63 against 0.36 in 2024; short-term debt: 11.2% and cash: 0.2% of total assets), and 38.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 87
Relative position
BE, all sectors
reference
Residential care activities (NACE 87)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
61.2%
Return on assets
10.9%
Age of the figures
9 mo
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
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
77 d early
2023
6 d early
2022
54 d early
2021
41 d early
2020
26 d late
2019
83 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 13 days before the deadline; the sector median for financial year 2024 is 27 days before the deadline, and 24% 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
In the rankings
#2 company by total assets in Thuin, Health and social work sector#2 company by equity in Thuin, Health and social work sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€447,129▲ 70.2%
2024 · €262,701
Working capital
-€168,785▲ 39.8%
2024 · -€280,314
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 87, Residential care activities, 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€92,396▲ 4.0%€97,997▲ 6.1%€111,747▲ 14.0%€122,042▲ 9.2%€240,078▲ 96.7%
Net result€287,842above the sector's middle half▲ 53.4%€294,231above the sector's middle half▲ 2.2%€306,883above the sector's middle half▲ 4.3%€262,701above the sector's middle half▼ 14.4%€447,129above the sector's middle half▲ 70.2%
Equity€1.7mabove the sector's middle half▲ 20.5%€2.0mabove the sector's middle half▲ 17.4%€1.8mabove the sector's middle half▼ 9.7%€2.1mabove the sector's middle half▲ 14.7%€2.5mwithin the sector's middle half▲ 21.8%
Total assets€4.2mabove the sector's middle half▼ 1.4%€4.1mabove the sector's middle half▼ 1.7%€4.1mabove the sector's middle half▼ 1.2%€4.0mabove the sector's middle half▼ 2.2%€4.1mwithin the sector's middle half▲ 2.1%
Debt€2.5m▼ 12.1%€2.2m▼ 14.5%€2.3m▲ 6.6%€1.9m▼ 15.3%€1.6m▼ 18.5%
Working capital-€164,849▼ 23.5%-€212,792▼ 29.1%-€683,335▼ 221%-€280,314▲ 59.0%-€168,785▲ 39.8%
Solvency40.1%within the sector's middle half▲ 7.3pp47.9%within the sector's middle half▲ 7.8pp43.8%within the sector's middle half▼ 4.1pp51.3%within the sector's middle half▲ 7.5pp61.2%within the sector's middle half▲ 9.9pp
above
within
below
the middle half (P25 to P75) of NACE 87, Residential care activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +70% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 97% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€3.8m ▼ 1.2%
Current assets
€289,621 ▲ 83.6%
Equity and liabilities €4.1m
Equity
€2.5m ▲ 21.8%
Debt
€1.6m ▼ 18.5%
Debt's share of the balance-sheet total falls from 48.7% to 38.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€286,071▲
2024 · €171,214
Cash flow
€493,122▲
2024 · €311,873
Current ratio
0.63▲
2024 · 0.36
Debt to equity
0.63▼
2024 · 0.95
ROE
17.9%▲
2024 · 12.8%
ROA
10.9%▲
2024 · 6.6%
Interest coverage
6.90▲
2024 · 4.45
Debt ≤ 1 year
€458,406▲
2024 · €438,087
Debt > 1 year
€1.1m▼
2024 · €1.5m
Income taxes
€51,513▲
2024 · €20,900
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,375 | €48,645 | €49,172 | €49,172 | €45,993 | ▼ 6.5% |
| Other operating charges640/8 | €6,536 | €6,674 | €7,374 | €7,691 | €7,879 | ▲ 2.4% |
| Gross operating margin9900 | €146,307 | €153,317 | €168,292 | €178,905 | €293,950 | ▲ 64.3% |
| Operating profit (loss)9901 | €92,396 | €97,997 | €111,747 | €122,042 | €240,078 | ▲ 96.7% |
| Financial income75/76B | €250,000 | €250,000 | €250,000 | €200,000 | €300,000 | ▲ 50.0% |
| Recurring financial income75 | €250,000 | €250,000 | €250,000 | €200,000 | €300,000 | ▲ 50.0% |
| Financial charges65/66B | €46,718 | €40,452 | €34,157 | €38,440 | €41,437 | ▲ 7.8% |
| Recurring financial charges65 | €46,718 | €40,452 | €34,157 | €38,440 | €41,437 | ▲ 7.8% |
| Profit (loss) for the period before taxes9903 | €295,677 | €307,545 | €327,590 | €283,602 | €498,642 | ▲ 75.8% |
| Income taxes67/77 | €7,835 | €13,315 | €20,707 | €20,900 | €51,513 | ▲ 146% |
| Profit (loss) for the period9904 | €287,842 | €294,231 | €306,883 | €262,701 | €447,129 | ▲ 70.2% |
| Profit (loss) for the period to be appropriated9905 | €287,842 | €294,231 | €306,883 | €262,701 | €447,129 | ▲ 70.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.2m | €4.1m | €4.1m | €4.0m | €4.1m | ▲ 2.1% |
| Fixed assets21/28 | €4.0m | €3.9m | €3.9m | €3.8m | €3.8m | ▼ 1.2% |
| Tangible fixed assets22/27 | €473,629 | €442,952 | €393,781 | €344,609 | €298,616 | ▼ 13.3% |
| Land and buildings22 | €473,629 | €442,952 | €393,781 | €344,609 | €298,616 | ▼ 13.3% |
| Financial fixed assets28 | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | = |
| Current assets29/58 | €238,439 | €198,843 | €198,077 | €157,773 | €289,621 | ▲ 83.6% |
| Amounts receivable within one year40/41 | €5,446 | €0 | €89,004 | €87,558 | €282,950 | ▲ 223% |
| Other amounts receivable41 | €5,446 | €0 | €89,004 | €87,558 | €282,950 | ▲ 223% |
| Cash at bank and in hand54/58 | €232,993 | €190,782 | €87,718 | €70,215 | €6,671 | ▼ 90.5% |
| Deferred charges and accrued income490/1 | €0 | €8,061 | €21,356 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.2m | €4.1m | €4.1m | €4.0m | €4.1m | ▲ 2.1% |
| Equity10/15 | €1.7m | €2.0m | €1.8m | €2.1m | €2.5m | ▲ 21.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €1.7m | €2.0m | €1.8m | €2.0m | €2.5m | ▲ 22.0% |
| Amounts payable17/49 | €2.5m | €2.2m | €2.3m | €1.9m | €1.6m | ▼ 18.5% |
| Amounts payable after more than one year17 | €2.1m | €1.7m | €1.4m | €1.5m | €1.1m | ▼ 25.3% |
| Financial debts170/4 | €2.1m | €1.7m | €1.4m | €1.5m | €1.1m | ▼ 25.3% |
| Amounts payable within one year42/48 | €403,288 | €411,635 | €881,413 | €438,087 | €458,406 | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | €366,235 | €372,473 | €326,306 | €372,236 | €380,871 | ▲ 2.3% |
| Financial debts43 | €21,917 | €22,281 | €31,280 | €42,413 | €43,083 | ▲ 1.6% |
| Credit institutions430/8 | €21,917 | €22,281 | €31,280 | €42,413 | €43,083 | ▲ 1.6% |
| Trade debts44 | €7,301 | €1,596 | €3,120 | €1,831 | €2,039 | ▲ 11.4% |
| Suppliers440/4 | €7,301 | €1,596 | €3,120 | €1,831 | €2,039 | ▲ 11.4% |
| Taxes, remuneration and social security45 | €7,835 | €9,900 | €20,707 | €21,607 | €32,413 | ▲ 50.0% |
| Taxes450/3 | €7,835 | €9,900 | €20,707 | €21,607 | €32,413 | ▲ 50.0% |
| Other amounts payable47/48 | €0 | €5,384 | €500,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | €3,193 | €2,817 | €2,525 | €3,689 | €2,968 | ▼ 19.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €287,842 | €294,231 | €306,883 | €262,701 | €447,129 | ▲ 70.2% |
| + Depreciation and write-downs630 | €47,375 | €48,645 | €49,172 | €49,172 | €45,993 | ▼ 6.5% |
| Operating cash flow (approximation) | €335,217 | €342,876 | €356,055 | €311,873 | €493,122 | ▲ 58.1% |
| Investment in fixed assets (approximation) | - | -€17,969 | €0 | €0 | €0 | - |
| Change in cash | - | -€42,210 | -€103,064 | -€17,503 | -€63,544 | ▼ 263% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €2mEq €2.1m ▲14.7%
7 profitable years in a row build equity to €2.1m.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 83 days late
2019
31-12
Financial
Highest result since 2018net €1.1m ▲2,762%
Net result €1.1m, the highest in the series.
31-12
Financial
Equity above €1mEq €1.2m ▲1,660%
2 profitable years in a row build equity to €1.2m.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
24-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 55 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Thuin · 1 establishment unit since 2012
Ground area
1,462 m²
Building footprint
106 m²
Volume, LiDAR
1,193 m³
Parcel 56078B0246/00L003, Wallonia · tallest building 12.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Bellam
since 20122.208.520.249
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56078B0246/00L003 | Wallonia | 1,462 m² | 1 · 106 m² | 12.8 m · 4 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
1 owner · 1 holdingChain of control
Highest known parent: BALTIS. The sources do not say who stands above it.
Owners 1
- JOE CASTAparentSourceaccounts JOE CASTA 2025100%
Holdings 1
-
100%
According to the 2025 annual accounts of BELLAM and those 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.
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Of 324 companies in sector 87202 we hold annual accounts for 274. 221 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
Founded10-05-2006
Fiscal year end31-12
Activities, NACEBEL 2025
87202Residential care activities
68202Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0881229657
Also
9925:BE0881229657
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.