BELLARTI
ActiveSummary
BELLARTI has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€102,377) and a net result of €9,924. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 353 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+84
Solvency0=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.48 against 0.43 in 2024; short-term debt: 195.2% and cash: 16.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-123.3%
Return on assets
11.9%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 353 sector peers (2025).
NBB · sector comparisonPosition among 353 sector peers
Solvency
better than 5%
← 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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
50 d late
2023
20 d early
2022
82 d early
2021
45 d early
2020
3 d early
2019
46 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 21 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% 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 12 July (4 of the last 5 filed years within 63 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€102,377▲ 8.8%
2024 · -€112,301
Total assets
€83,051▼ 9.0%
2024 · €91,265
Net result
€9,924
2024 · -€21,712
Working capital
-€85,032▲ 12.2%
2024 · -€96,880
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, 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€7,206▼ 72.3%€2,481▼ 65.6%€3,632▲ 46.4%-€20,709€10,358
Net result€4,957within the sector's middle half▼ 80.3%€820within the sector's middle half▼ 83.4%€1,393within the sector's middle half▲ 69.8%-€21,712below the sector's middle half€9,924within the sector's middle half
Equity-€92,802below the sector's middle half▲ 5.1%-€91,982below the sector's middle half▲ 0.9%-€90,589below the sector's middle half▲ 1.5%-€112,301below the sector's middle half▼ 24.0%-€102,377below the sector's middle half▲ 8.8%
Total assets€140,952within the sector's middle half▲ 82.9%€123,632within the sector's middle half▼ 12.3%€133,514within the sector's middle half▲ 8.0%€91,265below the sector's middle half▼ 31.6%€83,051below the sector's middle half▼ 9.0%
Debt€233,754▲ 33.7%€215,614▼ 7.8%€224,103▲ 3.9%€203,567▼ 9.2%€185,428▼ 8.9%
Working capital-€90,639below the sector's middle half▼ 0.3%-€89,543below the sector's middle half▲ 1.2%-€96,377below the sector's middle half▼ 7.6%-€96,880below the sector's middle half▼ 0.5%-€85,032below the sector's middle half▲ 12.2%
Solvency-65.8%below the sector's middle half▲ 61.0pp-74.4%below the sector's middle half▼ 8.6pp-67.8%below the sector's middle half▲ 6.5pp-123.0%below the sector's middle half▼ 55.2pp-123.3%below the sector's middle half▼ 0.2pp
Current ratio0.48below the sector's middle half▲ 0.090.47below the sector's middle half▼ 0.010.52below the sector's middle half▲ 0.040.43below the sector's middle half▼ 0.080.48below the sector's middle half▲ 0.04
Return on assets (ROA)3.5%within the sector's middle half▼ 29.1pp0.7%within the sector's middle half▼ 2.9pp1.0%within the sector's middle half▲ 0.4pp-23.8%below the sector's middle half▼ 24.8pp11.9%above the sector's middle half▲ 35.7pp
Staff (FTE)1▲ 25.0%1=1=1=0.1▼ 90.0%
above
within
below
the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, 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 returns to profit in 2025: €10,358 after a loss of €20,709 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €83,051
Fixed assets
€5,974 ▼ 65.6%
Current assets
€77,077 ▲ 4.3%
Key figures and ratios
EBITDA
€21,773▲
2024 · -€7,009
Cash flow
€21,340▲
2024 · -€8,013
Quick ratio
0.18▲
2024 · 0.08
Debt to equity
-1.81▲
2024 · -1.81
Interest coverage
39.81▲
2024 · -6.50
Debt ≤ 1 year
€162,109▼
2024 · €170,756
Staff costs
€3,222▼
2024 · €35,528
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 3,795 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €24,039 | €28,424 | €36,691 | €35,528 | €3,222 | ▼ 90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,655 | €13,465 | €13,580 | €13,699 | €11,415 | ▼ 16.7% |
| Other operating charges640/8 | €5,132 | €2,457 | €2,728 | €2,632 | €2,763 | ▲ 5.0% |
| Gross operating margin9900 | €44,032 | €46,826 | €56,631 | €31,151 | €27,758 | ▼ 10.9% |
| Operating profit (loss)9901 | €7,206 | €2,481 | €3,632 | -€20,709 | €10,358 | ▲ 150% |
| Financial income75/76B | €7 | €73 | €5 | €74 | €113 | ▲ 53.4% |
| Recurring financial income75 | €7 | €73 | €5 | €74 | €113 | ▲ 53.4% |
| Financial charges65/66B | €2,257 | €1,734 | €2,244 | €1,078 | €547 | ▼ 49.2% |
| Recurring financial charges65 | €2,257 | €1,734 | €2,244 | €1,078 | €547 | ▼ 49.2% |
| Profit (loss) for the period before taxes9903 | €4,957 | €820 | €1,393 | -€21,712 | €9,924 | ▲ 146% |
| Profit (loss) for the period9904 | €4,957 | €820 | €1,393 | -€21,712 | €9,924 | ▲ 146% |
| Profit (loss) for the period to be appropriated9905 | €4,957 | €820 | €1,393 | -€21,712 | €9,924 | ▲ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,952 | €123,632 | €133,514 | €91,265 | €83,051 | ▼ 9.0% |
| Fixed assets21/28 | €57,430 | €43,965 | €31,088 | €17,389 | €5,974 | ▼ 65.6% |
| Tangible fixed assets22/27 | €57,385 | €43,920 | €31,043 | €17,344 | €5,929 | ▼ 65.8% |
| Plant, machinery and equipment23 | €42,610 | €33,410 | €24,798 | €15,363 | €5,929 | ▼ 61.4% |
| Furniture and vehicles24 | €14,775 | €10,511 | €6,246 | €1,981 | - | - |
| Financial fixed assets28 | €45 | €45 | €45 | €45 | €45 | = |
| Current assets29/58 | €83,522 | €79,667 | €102,425 | €73,876 | €77,077 | ▲ 4.3% |
| Stocks and contracts in progress3 | €26,776 | €46,023 | €51,853 | €60,024 | €48,599 | ▼ 19.0% |
| Stocks30/36 | €26,776 | €29,198 | €40,898 | €41,375 | €42,778 | ▲ 3.4% |
| Contracts in progress37 | - | €16,825 | €10,955 | €18,649 | €5,821 | ▼ 68.8% |
| Amounts receivable within one year40/41 | €17,798 | €19,926 | €35,349 | €12,601 | €14,798 | ▲ 17.4% |
| Trade receivables40 | €16,107 | €14,809 | €30,658 | €11,295 | €13,026 | ▲ 15.3% |
| Other amounts receivable41 | €1,691 | €5,117 | €4,690 | €1,307 | €1,772 | ▲ 35.6% |
| Cash at bank and in hand54/58 | €38,948 | €13,718 | €15,224 | €1,251 | €13,680 | ▲ 994% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,952 | €123,632 | €133,514 | €91,265 | €83,051 | ▼ 9.0% |
| Equity10/15 | -€92,802 | -€91,982 | -€90,589 | -€112,301 | -€102,377 | ▲ 8.8% |
| 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 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€113,262 | -€112,442 | -€111,049 | -€132,761 | -€122,837 | ▲ 7.5% |
| Amounts payable17/49 | €233,754 | €215,614 | €224,103 | €203,567 | €185,428 | ▼ 8.9% |
| Amounts payable after more than one year17 | €47,734 | €34,546 | €11,411 | €9,492 | - | - |
| Financial debts170/4 | €47,734 | €34,546 | €11,411 | €9,492 | - | - |
| Amounts payable within one year42/48 | €174,161 | €169,209 | €198,802 | €170,756 | €162,109 | ▼ 5.1% |
| Current portion of amounts payable after more than one year42 | €12,889 | €13,189 | €23,134 | €11,557 | €9,492 | ▼ 17.9% |
| Trade debts44 | €29,631 | €23,662 | €32,522 | €11,901 | €15,031 | ▲ 26.3% |
| Suppliers440/4 | €29,631 | €23,662 | €32,522 | €11,901 | €15,031 | ▲ 26.3% |
| Taxes, remuneration and social security45 | €3,140 | €3,140 | €4,961 | €5,089 | - | - |
| Remuneration and social security454/9 | €3,140 | €3,140 | €4,961 | €5,089 | - | - |
| Other amounts payable47/48 | €128,502 | €129,219 | €138,185 | €142,209 | €137,586 | ▼ 3.3% |
| Accrued charges and deferred income492/3 | €11,859 | €11,859 | €13,889 | €23,319 | €23,319 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,957 | €820 | €1,393 | -€21,712 | €9,924 | ▲ 146% |
| + Depreciation and write-downs630 | €7,655 | €13,465 | €13,580 | €13,699 | €11,415 | ▼ 16.7% |
| Operating cash flow (approximation) | €12,612 | €14,285 | €14,973 | -€8,013 | €21,340 | ▲ 366% |
| Investment in fixed assets (approximation) | - | €0 | -€703 | €0 | €0 | - |
| Change in cash | - | -€25,230 | €1,505 | -€13,972 | €12,429 | ▲ 189% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €9,924
Net result €9,924 after one loss-making year.
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 50 days late
2024
31-12
Financial
Weakest financial yearnet -€21,712
Net result drops to -€21,712, the lowest in the series; recovery starts the following year.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €25,106 ▲98.7%
Operating result €26,040, net result €25,106, both a record.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 6 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2000
Ground area
1,120 m²
Building footprint
536 m²
Volume, LiDAR
2,987 m³
Parcel 11813N0223/00X000, Flanders · tallest building 11.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Waterwilgweg 4, 2050 Antwerpen
since 20002.099.627.851
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11813N0223/00X000 | Flanders | 1,120 m² | 1 · 536 m² | 11.9 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.
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Of 737 companies in sector 23700 we hold annual accounts for 489. 193 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 (pre-2019)
Founded14-04-2000
Fiscal year end31-12
Activities, NACEBEL 2025
23700Cutting, shaping and finishing of stone
43331Floor and wall tiling
43332Laying of wooden floor and wall coverings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471649335
Also
9925:BE0471649335
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.