Summary
BELLAMAR is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €1.1m and a net result of -€49,288. Equity is growing by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 65% of 9872 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-08-2025, 27 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
27 d late
2023
6 d late
2022
29 d late
2021
37 d early
2020
6 d late
2019
24 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 9 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€1.1m▼ 4.5%
2023 · €1.1m
Net result
-€49,288▼ 401%
2023 · -€9,838
Total assets
€1.5m▲ 8.0%
2023 · €1.4m
Solvency
69.8%▼ 9.1pp
2023 · 78.8%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20202021202220232024
Operating result€63,755▲ 41.3%€54,278▼ 14.9%-€19,522-€10,434▲ 46.6%-€75,135▼ 620%
Net result€52,291within the sector's middle half▲ 43.3%€43,760within the sector's middle half▼ 16.3%-€19,327below the sector's middle half-€9,838below the sector's middle half▲ 49.1%-€49,288below the sector's middle half▼ 401%
Equity€713,775above the sector's middle half▲ 7.9%€757,534above the sector's middle half▲ 6.1%€738,207above the sector's middle half▼ 2.6%€1.1mabove the sector's middle half▲ 49.5%€1.1mabove the sector's middle half▼ 4.5%
Total assets€773,860within the sector's middle half▲ 12.3%€832,199within the sector's middle half▲ 7.5%€827,507within the sector's middle half▼ 0.6%€1.4mabove the sector's middle half▲ 69.1%€1.5mabove the sector's middle half▲ 8.0%
Debt€60,085▲ 115%€74,664▲ 24.3%€89,300▲ 19.6%€296,016▲ 231%€456,732▲ 54.3%
Working capital€695,300above the sector's middle half▲ 5.1%€741,398above the sector's middle half▲ 6.6%€721,756above the sector's middle half▼ 2.6%€1.1mabove the sector's middle half▲ 51.0%€868,002above the sector's middle half▼ 20.3%
Solvency92.2%above the sector's middle half▼ 3.7pp91.0%above the sector's middle half▼ 1.2pp89.2%above the sector's middle half▼ 1.8pp78.8%above the sector's middle half▼ 10.4pp69.8%within the sector's middle half▼ 9.1pp
Current ratio12.64above the sector's middle half▼ 12.0610.93above the sector's middle half▼ 1.719.08above the sector's middle half▼ 1.854.68above the sector's middle half▼ 4.402.90within the sector's middle half▼ 1.78
Return on assets (ROA)6.8%within the sector's middle half▲ 1.5pp5.3%within the sector's middle half▼ 1.5pp-2.3%below the sector's middle half▼ 7.6pp-0.7%below the sector's middle half▲ 1.6pp-3.3%below the sector's middle half▼ 2.6pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €75,135 in 2024 against €10,434 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.5m
Fixed assets
€186,080 ▲ 1,252%
Current assets
€1.3m ▼ 4.4%
Equity and liabilities €1.5m
Equity
€1.1m ▼ 4.5%
Debt
€456,732 ▲ 54.3%
Debt's share of the balance-sheet total rises from 21.2% to 30.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.7%▼
2023 · -0.9%
Debt ≤ 1 year
€456,732▲
2023 · €296,016
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,735 | €2,686 | €2,686 | €2,686 | €2,686 | = |
| Other operating charges640/8 | - | €468 | €990 | €1,092 | €528 | ▼ 51.7% |
| Gross operating margin9900 | €66,107 | €57,432 | -€15,847 | -€6,656 | -€71,921 | ▼ 981% |
| Operating profit (loss)9901 | €63,755 | €54,278 | -€19,522 | -€10,434 | -€75,135 | ▼ 620% |
| Financial income75/76B | - | €600 | €547 | €700 | €31,438 | ▲ 4,391% |
| Recurring financial income75 | €1,550 | €600 | €547 | €700 | €31,438 | ▲ 4,391% |
| Financial charges65/66B | - | €300 | €353 | €104 | €5,591 | ▲ 5,255% |
| Recurring financial charges65 | €79 | €300 | €353 | €104 | €5,591 | ▲ 5,255% |
| Profit (loss) for the period before taxes9903 | €65,226 | €54,578 | -€19,327 | -€9,838 | -€49,288 | ▼ 401% |
| Income taxes67/77 | €12,936 | €10,819 | €0 | - | - | - |
| Profit (loss) for the period9904 | €52,291 | €43,760 | -€19,327 | -€9,838 | -€49,288 | ▼ 401% |
| Profit (loss) for the period to be appropriated9905 | €52,291 | €43,760 | -€19,327 | -€9,838 | -€49,288 | ▼ 401% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €773,860 | €832,199 | €827,507 | €1.4m | €1.5m | ▲ 8.0% |
| Fixed assets21/28 | €18,822 | €16,137 | €16,451 | €13,765 | €186,080 | ▲ 1,252% |
| Tangible fixed assets22/27 | €18,822 | €16,137 | €13,451 | €10,765 | €8,080 | ▼ 24.9% |
| Other tangible fixed assets26 | - | €16,137 | €13,451 | €10,765 | €8,080 | ▼ 24.9% |
| Financial fixed assets28 | - | - | €3,000 | €3,000 | €178,000 | ▲ 5,833% |
| Current assets29/58 | €755,037 | €816,062 | €811,056 | €1.4m | €1.3m | ▼ 4.4% |
| Amounts receivable after more than one year29 | - | - | €300,000 | €1.1m | €1.1m | ▲ 8.1% |
| Other amounts receivable291 | - | - | €300,000 | €1.1m | €1.1m | ▲ 8.1% |
| Amounts receivable within one year40/41 | €9,826 | €108,900 | €15,520 | €73,600 | €61,904 | ▼ 15.9% |
| Trade receivables40 | - | €108,900 | €15,520 | €73,600 | €61,890 | ▼ 15.9% |
| Other amounts receivable41 | - | - | - | - | €14 | - |
| Cash at bank and in hand54/58 | €745,212 | €707,162 | €495,536 | €262,020 | €99,604 | ▼ 62.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €28,225 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €773,860 | €832,199 | €827,507 | €1.4m | €1.5m | ▲ 8.0% |
| Equity10/15 | €713,775 | €757,534 | €738,207 | €1.1m | €1.1m | ▼ 4.5% |
| Contributions10/11 | €625,000 | €625,000 | €625,000 | €1.0m | €1.0m | = |
| Capital10 | - | €625,000 | €625,000 | €1.0m | €1.0m | = |
| Issued capital100 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Uncalled capital101 | - | €375,000 | €375,000 | €0 | - | - |
| Reserves13 | €88,775 | €132,534 | €132,534 | €132,534 | €132,534 | = |
| Non-distributable reserves130/1 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Legal reserve130 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Distributable reserves133 | - | €32,534 | €32,534 | €32,534 | €32,534 | = |
| Profit (loss) carried forward14 | - | - | -€19,327 | -€29,165 | -€78,453 | ▼ 169% |
| Amounts payable17/49 | €60,085 | €74,664 | €89,300 | €296,016 | €456,732 | ▲ 54.3% |
| Amounts payable within one year42/48 | €59,738 | €74,664 | €89,300 | €296,016 | €456,732 | ▲ 54.3% |
| Financial debts43 | - | - | - | €200,000 | €350,000 | ▲ 75.0% |
| Other loans439 | - | - | - | €200,000 | €350,000 | ▲ 75.0% |
| Trade debts44 | €4,526 | €1,202 | €624 | €540 | €1,265 | ▲ 134% |
| Suppliers440/4 | - | €1,202 | €624 | €540 | €1,265 | ▲ 134% |
| Taxes, remuneration and social security45 | - | €55,491 | €75,271 | €12,125 | €28,371 | ▲ 134% |
| Taxes450/3 | - | €30,291 | €24,871 | €12,125 | €3,171 | ▼ 73.8% |
| Remuneration and social security454/9 | - | €25,200 | €50,400 | €0 | €25,200 | - |
| Other amounts payable47/48 | - | €17,972 | €13,405 | €83,352 | €77,095 | ▼ 7.5% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,291 | €43,760 | -€19,327 | -€9,838 | -€49,288 | ▼ 401% |
| + Depreciation and write-downs630 | €1,735 | €2,686 | €2,686 | €2,686 | €2,686 | = |
| Operating cash flow (approximation) | €54,025 | €46,445 | -€16,641 | -€7,152 | -€46,602 | ▼ 552% |
| Investment in fixed assets (approximation) | - | €0 | -€3,000 | €0 | -€175,000 | - |
| Change in cash | - | -€38,050 | -€211,626 | -€233,516 | -€162,416 | ▲ 30.4% |
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
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet -€49,288
Net result drops to -€49,288, the lowest in the series.
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2023
31-12
Financial
Equity above €1mEq €1.1m ▲49.5%
Equity rises from €738,207 to €1.1m.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2020
31-12
Financial
Highest result since 2019net €52,291 ▲43.3%
Operating result €63,755, net result €52,291, both a record.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gent · 1 establishment unit since 2018
Ground area
2,847 m²
Building footprint
678 m²
Volume, LiDAR
3,355 m³
2 parcels, Flanders · tallest building 15.8 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
BELLAMAR
since 20182.278.199.210
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44372A0780/02K000 | Flanders | 1,677 m² | 1 · 429 m² | 15.8 m · 2 fl. |
| 44051C0147/00X000 | Flanders | 1,170 m² | 1 · 249 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 12,563 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0699506986
Also
9925:BE0699506986
Registered
17-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.