BELLAS
ActiveThe file of BELLAS contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 11.1% (high). The 2025 annual accounts show negative equity (-€42,741) and a net result of €19,912. Equity is growing by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 6% of 1885 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▼-14
Solvency0=
Growth78=
Track record60
Bankruptcy probability, 12 months
11.1%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.55 against 0.51 in 2024; short-term debt: 85.1% and cash: 14.2% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more 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
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
-29.8%
Return on assets
13.9%
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 6% of 1885 sector peers (2025).
NBB · sector comparisonPosition among 1885 sector peers
Solvency
better than 6%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 10 filingsDeviation from the deadline
2025
28 d late
2024
30 d late
2023
31 d late
2022
14 d late
2021
38 d early
2020
47 d early
2019
122 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 20 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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
28-09-2026 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
€19,912▼ 62.7%
2024 · €53,409
Working capital
-€55,437▲ 42.0%
2024 · -€95,551
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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€3,390▼ 39.1%€3,067▼ 9.5%€6,270▲ 104%€54,243▲ 765%€31,225▼ 42.4%
Net result€2,613within the sector's middle half▼ 35.2%€2,164within the sector's middle half▼ 17.2%€5,113within the sector's middle half▲ 136%€53,409above the sector's middle half▲ 945%€19,912within the sector's middle half▼ 62.7%
Equity-€123,340below the sector's middle half▲ 2.1%-€121,176below the sector's middle half▲ 1.8%-€116,063below the sector's middle half▲ 4.2%-€62,653below the sector's middle half▲ 46.0%-€42,741below the sector's middle half▲ 31.8%
Total assets€160,845within the sector's middle half▼ 22.5%€170,681within the sector's middle half▲ 6.1%€277,278above the sector's middle half▲ 62.5%€195,768within the sector's middle half▼ 29.4%€143,248below the sector's middle half▼ 26.8%
Debt€284,185▼ 14.8%€291,857▲ 2.7%€393,340▲ 34.8%€258,421▼ 34.3%€185,989▼ 28.0%
Working capital-€161,794below the sector's middle half▲ 6.6%-€145,548below the sector's middle half▲ 10.0%-€111,933below the sector's middle half▲ 23.1%-€95,551below the sector's middle half▲ 14.6%-€55,437below the sector's middle half▲ 42.0%
Solvency-76.7%below the sector's middle half▼ 16.0pp-71.0%below the sector's middle half▲ 5.7pp-41.9%below the sector's middle half▲ 29.1pp-32.0%below the sector's middle half▲ 9.9pp-29.8%below the sector's middle half▲ 2.2pp
Current ratio0.35below the sector's middle half▼ 0.070.43below the sector's middle half▲ 0.080.65below the sector's middle half▲ 0.220.51below the sector's middle half▼ 0.140.55below the sector's middle half▲ 0.04
Return on assets (ROA)1.6%within the sector's middle half▼ 0.3pp1.3%within the sector's middle half▼ 0.4pp1.8%within the sector's middle half▲ 0.6pp27.3%above the sector's middle half▲ 25.4pp13.9%above the sector's middle half▼ 13.4pp
Staff (FTE)4.1=4.1=5.3▲ 29.3%4within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €143,248
Fixed assets
€76,829 ▼ 21.1%
Current assets
€66,418 ▼ 32.5%
Key figures and ratios
EBITDA
€47,074▼
2024 · €74,628
Cash flow
€35,761▼
2024 · €73,794
Quick ratio
0.33▲
2024 · 0.20
Debt to equity
-4.35▼
2024 · -4.12
Interest coverage
79.34▼
2024 · 89.54
Debt ≤ 1 year
€121,856▼
2024 · €193,924
Debt > 1 year
€64,000=
2024 · €64,000
Income taxes
€10,819
Staff costs
€135,741▼
2024 · €136,092
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 11.1% 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 497,662 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% | 1.7% |
| 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 75% 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 3,798 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 | €100,060 | €137,269 | €188,428 | €136,092 | €135,741 | ▼ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,609 | €16,813 | €20,806 | €20,385 | €15,849 | ▼ 22.3% |
| Other operating charges640/8 | €9,921 | €6,967 | €123,143 | €120,647 | €162,578 | ▲ 34.8% |
| Gross operating margin9900 | €128,980 | €164,116 | €338,646 | €331,367 | €345,393 | ▲ 4.2% |
| Operating profit (loss)9901 | €3,390 | €3,067 | €6,270 | €54,243 | €31,225 | ▼ 42.4% |
| Financial income75/76B | €122 | €18 | €10 | €0 | €99 | ▲ 330,467% |
| Recurring financial income75 | €122 | €18 | €10 | €0 | €99 | ▲ 330,467% |
| Financial charges65/66B | €899 | €921 | €1,167 | €833 | €593 | ▼ 28.8% |
| Recurring financial charges65 | €899 | €921 | €1,167 | €833 | €593 | ▼ 28.8% |
| Profit (loss) for the period before taxes9903 | €2,613 | €2,164 | €5,113 | €53,409 | €30,731 | ▼ 42.5% |
| Income taxes67/77 | - | - | - | - | €10,819 | - |
| Profit (loss) for the period9904 | €2,613 | €2,164 | €5,113 | €53,409 | €19,912 | ▼ 62.7% |
| Profit (loss) for the period to be appropriated9905 | €2,613 | €2,164 | €5,113 | €53,409 | €19,912 | ▼ 62.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €160,845 | €170,681 | €277,278 | €195,768 | €143,248 | ▼ 26.8% |
| Fixed assets21/28 | €73,509 | €59,827 | €71,426 | €97,395 | €76,829 | ▼ 21.1% |
| Tangible fixed assets22/27 | €49,024 | €33,222 | €44,822 | €41,790 | €29,312 | ▼ 29.9% |
| Plant, machinery and equipment23 | - | - | - | €3,522 | €4,782 | ▲ 35.8% |
| Furniture and vehicles24 | €49,024 | €33,222 | €44,822 | €38,268 | €24,530 | ▼ 35.9% |
| Financial fixed assets28 | €24,485 | €26,605 | €26,605 | €55,605 | €47,517 | ▼ 14.5% |
| Current assets29/58 | €87,336 | €110,854 | €205,851 | €98,373 | €66,418 | ▼ 32.5% |
| Stocks and contracts in progress3 | - | €3,000 | €59,000 | €59,000 | €26,252 | ▼ 55.5% |
| Stocks30/36 | - | €3,000 | €59,000 | €59,000 | €26,252 | ▼ 55.5% |
| Amounts receivable within one year40/41 | €57,756 | €67,089 | €72,028 | €6,344 | €15,295 | ▲ 141% |
| Trade receivables40 | €57,756 | €67,089 | €72,028 | €6,344 | €15,295 | ▲ 141% |
| Cash at bank and in hand54/58 | €28,664 | €40,765 | €72,218 | €29,530 | €20,344 | ▼ 31.1% |
| Deferred charges and accrued income490/1 | €916 | - | €2,606 | €3,499 | €4,527 | ▲ 29.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €160,845 | €170,681 | €277,278 | €195,768 | €143,248 | ▼ 26.8% |
| Equity10/15 | -€123,340 | -€121,176 | -€116,063 | -€62,653 | -€42,741 | ▲ 31.8% |
| Contributions10/11 | €18,592 | €18,592 | €20,451 | €20,451 | €20,451 | = |
| Capital10 | €18,592 | €18,592 | €0 | - | - | - |
| Issued capital100 | €18,592 | €18,592 | €0 | - | - | - |
| Outside capital11 | - | - | €20,451 | €20,451 | €20,451 | = |
| Other1109/19 | - | - | €20,451 | €20,451 | €20,451 | = |
| Reserves13 | €16,871 | €16,871 | €15,012 | €15,012 | €15,012 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Legal reserve130 | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | €15,012 | €15,012 | €15,012 | €15,012 | €15,012 | = |
| Profit (loss) carried forward14 | -€158,803 | -€156,639 | -€151,526 | -€98,117 | -€78,204 | ▲ 20.3% |
| Amounts payable17/49 | €284,185 | €291,857 | €393,340 | €258,421 | €185,989 | ▼ 28.0% |
| Amounts payable after more than one year17 | €35,000 | €35,000 | €75,531 | €64,000 | €64,000 | = |
| Financial debts170/4 | €35,000 | €35,000 | €75,531 | €64,000 | €64,000 | = |
| Amounts payable within one year42/48 | €249,130 | €256,402 | €317,784 | €193,924 | €121,856 | ▼ 37.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,959 | €0 | ▼ 100% |
| Financial debts43 | €888 | - | - | - | - | - |
| Credit institutions430/8 | €888 | - | - | - | - | - |
| Trade debts44 | €28,619 | €50,249 | €45,523 | €10,316 | €12,025 | ▲ 16.6% |
| Suppliers440/4 | €28,619 | €50,249 | €45,523 | €10,316 | €12,025 | ▲ 16.6% |
| Taxes, remuneration and social security45 | €69,998 | €79,676 | €143,870 | €54,180 | €52,544 | ▼ 3.0% |
| Taxes450/3 | €2,370 | €7,898 | €8,996 | €7,024 | €12,613 | ▲ 79.6% |
| Remuneration and social security454/9 | €67,628 | €71,778 | €134,875 | €47,156 | €39,930 | ▼ 15.3% |
| Other amounts payable47/48 | €149,625 | €126,477 | €128,391 | €126,468 | €57,287 | ▼ 54.7% |
| Accrued charges and deferred income492/3 | €55 | €455 | €25 | €497 | €133 | ▼ 73.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,613 | €2,164 | €5,113 | €53,409 | €19,912 | ▼ 62.7% |
| + Depreciation and write-downs630 | €15,609 | €16,813 | €20,806 | €20,385 | €15,849 | ▼ 22.3% |
| Operating cash flow (approximation) | €18,222 | €18,977 | €25,919 | €73,794 | €35,761 | ▼ 51.5% |
| Investment in fixed assets (approximation) | - | -€3,131 | -€32,405 | -€46,354 | €4,717 | ▲ 110% |
| Change in cash | - | €12,101 | €31,453 | -€42,688 | -€9,186 | ▲ 78.5% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €53,409 ▲945%
Operating result €54,243, net result €53,409, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
15-01
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise du Brabant wallon · event 08-01-2024
2023
02-10
Judicial reorganisation
Opening
Tribunal de l’entreprise du Brabant wallon · collective agreement · event 25-09-2023
14-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2022
31-12
Financial
Weakest financial yearnet €2,164 ▼17.2%
Net result drops to €2,164, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 121 days late
07-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 191 days late
2018
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 282 days late
SignalFinancial 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, Lasne · 1 establishment unit since 1984
Ground area
3,144 m²
Building footprint
397 m²
Volume, LiDAR
2,716 m³
Parcel 25076G0096/00A000, Wallonia · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
28
companies at this address
See who is registered here
1 establishment unit
BELLAS SC
since 19842.078.004.868
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25076G0096/00A000 | Wallonia | 3,144 m² | 1 · 397 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteLasne2.078.004.868
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TIME TO GO
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Lasne
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 12,584 companies in sector 49410 we hold annual accounts for 8,203. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-06-1984
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
46711Wholesale of cars and light vans (up to 3.5 tonnes)
46712Wholesale trade
46720Wholesale of motor vehicle parts and accessories
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426027067
Registered
07-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.