BELLAND
ActiveSummary
BELLAND has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26,098 and a net result of €9,473. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 19% of 2028 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+6
Solvency40▼-14
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.81 in 2024; short-term debt: 35.5% and cash: 21.4% of total assets), and 85% of the assets are financed with debt.
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Signals
Six 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
15%
Return on assets
5.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 2028 sector peers (2025).
NBB · sector comparisonPosition among 2028 sector peers
Solvency
better than 19%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
30 d early
2024
29 d early
2023
27 d early
2022
145 d early
2021
142 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 75 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9,473▲ 438%
2024 · €1,762
Working capital
-€18,982▼ 148%
2024 · -€7,647
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€3,887-€2,094▼ 46.1%€3,838▲ 83.2%€4,774▲ 24.4%€22,721▲ 376%
Net result€2,794within the sector's middle half-€697within the sector's middle half▼ 75.1%€1,372within the sector's middle half▲ 97.0%€1,762within the sector's middle half▲ 28.4%€9,473within the sector's middle half▲ 438%
Equity€12,794below the sector's middle half-€13,490below the sector's middle half▲ 5.4%€14,863below the sector's middle half▲ 10.2%€16,625below the sector's middle half▲ 11.9%€26,098below the sector's middle half▲ 57.0%
Total assets€45,882below the sector's middle half-€56,407below the sector's middle half▲ 22.9%€66,569below the sector's middle half▲ 18.0%€57,473below the sector's middle half▼ 13.7%€173,525below the sector's middle half▲ 202%
Debt€33,089-€42,917▲ 29.7%€51,706▲ 20.5%€40,848▼ 21.0%€147,426▲ 261%
Working capital-€3,989--€6,753▼ 69.3%-€2,419▲ 64.2%-€7,647▼ 216%-€18,982▼ 148%
Solvency27.9%within the sector's middle half-23.9%within the sector's middle half▼ 4.0pp22.3%within the sector's middle half▼ 1.6pp28.9%within the sector's middle half▲ 6.6pp15.0%below the sector's middle half▼ 13.9pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 376% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €172,673
Fixed assets
€130,135 ▲ 479%
Current assets
€42,538 ▲ 28.1%
Equity and liabilities €173,525
Equity
€26,098 ▲ 57.0%
Debt
€147,426 ▲ 261%
Debt's share of the balance-sheet total rises from 71.1% to 85.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€55,076▲
2024 · €17,117
Cash flow
€41,828▲
2024 · €14,106
Current ratio
0.69▼
2024 · 0.81
Debt to equity
5.65▲
2024 · 2.46
ROE
36.3%▲
2024 · 10.6%
ROA
5.5%▲
2024 · 3.1%
Interest coverage
12.48▲
2024 · 5.68
Debt ≤ 1 year
€61,519▲
2024 · €40,848
Debt > 1 year
€85,907
Income taxes
€8,943
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,703 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €630 | - | - | €2,124 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,706 | €13,401 | €17,728 | €12,343 | €32,355 | ▲ 162% |
| Other operating charges640/8 | - | €814 | €892 | €1,309 | €528 | ▼ 59.6% |
| Non-recurring operating charges66A | - | - | - | - | €2,124 | - |
| Gross operating margin9900 | €13,745 | €16,309 | €22,458 | €18,426 | €57,729 | ▲ 213% |
| Operating profit (loss)9901 | €3,887 | €2,094 | €3,838 | €4,774 | €22,721 | ▲ 376% |
| Financial income75/76B | - | €0 | €2 | €3 | €110 | ▲ 3,565% |
| Recurring financial income75 | €0 | €0 | €2 | €3 | €110 | ▲ 3,565% |
| Financial charges65/66B | - | €641 | €2,267 | €3,015 | €4,414 | ▲ 46.4% |
| Recurring financial charges65 | €514 | €641 | €2,267 | €3,015 | €4,414 | ▲ 46.4% |
| Profit (loss) for the period before taxes9903 | €3,373 | €1,453 | €1,572 | €1,762 | €18,417 | ▲ 945% |
| Income taxes67/77 | €579 | €757 | €200 | - | €8,943 | - |
| Profit (loss) for the period9904 | €2,794 | €697 | €1,372 | €1,762 | €9,473 | ▲ 438% |
| Profit (loss) for the period to be appropriated9905 | €2,794 | €697 | €1,372 | €1,762 | €9,473 | ▲ 438% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,882 | €56,407 | €66,569 | €57,473 | €173,525 | ▲ 202% |
| Formation expenses20 | €3,083 | €2,384 | €2,703 | €1,777 | €852 | ▼ 52.1% |
| Fixed assets21/28 | €31,393 | €36,066 | €22,769 | €22,495 | €130,135 | ▲ 479% |
| Intangible fixed assets21 | €8,755 | €8,609 | €7,903 | €12,985 | €8,560 | ▼ 34.1% |
| Tangible fixed assets22/27 | €22,638 | €27,458 | €14,867 | €9,510 | €121,575 | ▲ 1,178% |
| Land and buildings22 | - | - | - | - | €109,010 | - |
| Plant, machinery and equipment23 | - | €561 | €169 | - | €703 | - |
| Furniture and vehicles24 | - | €19,135 | €12,778 | €9,188 | €11,704 | ▲ 27.4% |
| Leasing and similar rights25 | - | €6,805 | €1,136 | - | - | - |
| Other tangible fixed assets26 | - | €957 | €784 | €322 | €158 | ▼ 51.0% |
| Current assets29/58 | €11,406 | €17,957 | €41,097 | €33,201 | €42,538 | ▲ 28.1% |
| Amounts receivable within one year40/41 | €2,586 | €11,210 | €30,270 | €28,507 | €5 | ▼ 100.0% |
| Trade receivables40 | - | €11,210 | €30,270 | €28,500 | - | - |
| Other amounts receivable41 | - | - | - | €7 | €5 | ▼ 32.9% |
| Cash at bank and in hand54/58 | €8,258 | €5,518 | €7,396 | €648 | €37,154 | ▲ 5,631% |
| Deferred charges and accrued income490/1 | - | €1,229 | €3,430 | €4,046 | €5,379 | ▲ 32.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,882 | €56,407 | €66,569 | €57,473 | €173,525 | ▲ 202% |
| Equity10/15 | €12,794 | €13,490 | €14,863 | €16,625 | €26,098 | ▲ 57.0% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €2,700 | €3,350 | €3,350 | €4,850 | €14,250 | ▲ 194% |
| Distributable reserves133 | - | €3,350 | €3,350 | €4,850 | €14,250 | ▲ 194% |
| Profit (loss) carried forward14 | €94 | €140 | €1,513 | €1,775 | €1,848 | ▲ 4.1% |
| Amounts payable17/49 | €33,089 | €42,917 | €51,706 | €40,848 | €147,426 | ▲ 261% |
| Amounts payable after more than one year17 | €17,694 | €18,207 | €8,190 | - | €85,907 | - |
| Financial debts170/4 | - | €18,207 | €8,190 | - | €85,907 | - |
| Amounts payable within one year42/48 | €15,395 | €24,710 | €43,516 | €40,848 | €61,519 | ▲ 50.6% |
| Current portion of amounts payable after more than one year42 | - | €13,709 | €10,415 | €4,687 | €2,762 | ▼ 41.1% |
| Trade debts44 | €1,387 | €3,529 | €5,027 | €4,939 | €11,131 | ▲ 125% |
| Suppliers440/4 | - | €3,529 | €5,027 | €4,939 | €11,131 | ▲ 125% |
| Taxes, remuneration and social security45 | - | €4,330 | €10,845 | €8,231 | €12,293 | ▲ 49.4% |
| Taxes450/3 | - | €4,330 | €10,845 | €8,231 | €12,293 | ▲ 49.4% |
| Other amounts payable47/48 | - | €3,141 | €17,229 | €22,991 | €35,333 | ▲ 53.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,794 | €697 | €1,372 | €1,762 | €9,473 | ▲ 438% |
| + Depreciation and write-downs630 | €8,706 | €13,401 | €17,728 | €12,343 | €32,355 | ▲ 162% |
| Operating cash flow (approximation) | €11,499 | €14,098 | €19,100 | €14,106 | €41,828 | ▲ 197% |
| Investment in fixed assets (approximation) | - | -€18,074 | -€4,431 | -€12,068 | -€139,996 | ▼ 1,060% |
| Change in cash | - | -€2,740 | €1,879 | -€6,748 | €36,506 | ▲ 641% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2021net €9,473 ▲438%
Operating result €22,721, net result €9,473, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €697 ▼75.1%
Net result drops to €697, the lowest in the series; recovery starts the following year.
11-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
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, Durbuy · 1 establishment unit since 2021
Ground area
186 m²
Building footprint
61 m²
Parcel 83004B2338/00Z000, Wallonia. Linked by address, not a title deed.
1 establishment unit
éléments architectes
since 20212.314.729.608
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83004B2338/00Z000 | Wallonia | 186 m² | 1 · 61 m² | - |
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.
Similar companies · same sector, comparable size
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MATAGNE ARCHITECTURE
BE 0799.263.766
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DBVR
BE 0778.937.318
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,321. 4,797 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
Founded15-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
31009Manufacture of furniture
55203Holiday cottages, homes and apartments
71112Activities of interior architects
71113Urban planning and landscape architecture
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765196376
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.