Belle
ActiveSummary
Belle has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €276,911 and a net result of -€6,561. Equity is growing by ~43.7% per year across the filed fiscal years. Its solvency ranks better than 14% of 1938 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability48▼-21
Solvency33▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity short (current ratio 0.4 against 0.62 in 2023; short-term debt: 6.7% and cash: 0.2% of total assets), and 92.4% 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 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 →
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 2024Solvency, return and age of the figures
Solvency
7.6%
Return on assets
-0.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 1938 sector peers (2024).
NBB · sector comparisonPosition among 1938 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
19 d early
2022
20 d early
2021
37 d early
2020
36 d early
2019
176 d early
← 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 54 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 (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€276,911▼ 2.3%
2023 · €283,472
Total assets
€3.7m▲ 30.7%
2023 · €2.8m
Net result
-€6,561
2023 · €70,998
Working capital
-€145,897▼ 52.2%
2023 · -€95,883
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€11,149-€41,154€175,863€139,568▼ 20.6%€49,261▼ 64.7%
Net result€8,158-€76,838€118,353€70,998▼ 40.0%-€6,561
Equity€53,408▲ 18.0%€94,121▲ 76.2%€212,474▲ 126%€283,472▲ 33.4%€276,911▼ 2.3%
Total assets€59,396▲ 31.1%€2.5m▲ 4,033%€2.7m▲ 9.9%€2.8m▲ 3.6%€3.7m▲ 30.7%
Debt€5,987▲ 10,902%€2.4m▲ 39,331%€2.5m▲ 5.2%€2.5m▲ 1.0%€3.4m▲ 34.4%
Working capital€53,408▲ 18.0%-€66,582-€100▲ 99.8%-€95,883▼ 95,468%-€145,897▼ 52.2%
Staff (FTE)0.60.8▲ 33.3%0.8=0.8=
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Equity +126% on 2021. Cause not known from the registers.
- 2021 Total assets +4,033% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 65% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.7m
Fixed assets
€3.6m ▲ 34.7%
Current assets
€98,917 ▼ 36.5%
Equity and liabilities €3.7m
Equity
€276,911 ▼ 2.3%
Debt
€3.4m ▲ 34.4%
Debt's share of the balance-sheet total rises from 89.9% to 92.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€200,531▼
2023 · €251,811
Cash flow
€144,709▼
2023 · €183,240
Current ratio
0.40▼
2023 · 0.62
Debt to equity
12.19▲
2023 · 8.86
ROE
-2.4%▼
2023 · 25.0%
ROA
-0.2%▼
2023 · 2.5%
Interest coverage
3.48▼
2023 · 5.70
Debt ≤ 1 year
€244,814▼
2023 · €251,666
Debt > 1 year
€3.1m▲
2023 · €2.2m
Income taxes
€0▼
2023 · €25,058
Staff costs
€60,331▼
2023 · €60,690
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,038 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
2.9%
went bankrupt
2.7%
stopped otherwise
94%
still going
A further 0.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 497,058 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 1,038 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €28,289 | €54,636 | €60,690 | €60,331 | ▼ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €272,275 | €105,787 | €112,243 | €151,270 | ▲ 34.8% |
| Other operating charges640/8 | - | €2,254 | €1,378 | €2,598 | €2,147 | ▼ 17.4% |
| Gross operating margin9900 | €11,269 | €261,665 | €337,663 | €315,099 | €263,008 | ▼ 16.5% |
| Operating profit (loss)9901 | €11,149 | -€41,154 | €175,863 | €139,568 | €49,261 | ▼ 64.7% |
| Financial income75/76B | - | - | - | €678 | €1,756 | ▲ 159% |
| Recurring financial income75 | - | - | - | €678 | €1,756 | ▲ 159% |
| Financial charges65/66B | - | €35,684 | €42,556 | €44,191 | €57,578 | ▲ 30.3% |
| Recurring financial charges65 | €22 | €35,684 | €42,556 | €44,191 | €57,578 | ▲ 30.3% |
| Profit (loss) for the period before taxes9903 | €11,127 | -€76,838 | €133,306 | €96,056 | -€6,561 | ▼ 107% |
| Income taxes67/77 | €2,970 | €0 | €14,953 | €25,058 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €8,158 | -€76,838 | €118,353 | €70,998 | -€6,561 | ▼ 109% |
| Profit (loss) for the period to be appropriated9905 | €8,158 | -€76,838 | €118,353 | €70,998 | -€6,561 | ▼ 109% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €59,396 | €2.5m | €2.7m | €2.8m | €3.7m | ▲ 30.7% |
| Fixed assets21/28 | - | €2.3m | €2.5m | €2.6m | €3.6m | ▲ 34.7% |
| Tangible fixed assets22/27 | - | €2.1m | €2.2m | €2.4m | €3.3m | ▲ 38.3% |
| Land and buildings22 | - | €2.0m | €2.2m | €2.4m | €3.3m | ▲ 38.8% |
| Plant, machinery and equipment23 | - | €31,947 | €25,344 | €18,742 | €12,139 | ▼ 35.2% |
| Furniture and vehicles24 | - | - | - | - | €1,595 | - |
| Financial fixed assets28 | - | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Current assets29/58 | €59,396 | €134,050 | €217,190 | €155,783 | €98,917 | ▼ 36.5% |
| Amounts receivable within one year40/41 | €13,613 | €117,624 | €120,301 | €96,543 | €92,147 | ▼ 4.6% |
| Trade receivables40 | - | €97,624 | €100,301 | €51,603 | €61,663 | ▲ 19.5% |
| Other amounts receivable41 | - | €20,000 | €20,000 | €44,940 | €30,485 | ▼ 32.2% |
| Cash at bank and in hand54/58 | €45,783 | €16,426 | €94,917 | €57,523 | €5,537 | ▼ 90.4% |
| Deferred charges and accrued income490/1 | - | - | €1,972 | €1,717 | €1,234 | ▼ 28.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €59,396 | €2.5m | €2.7m | €2.8m | €3.7m | ▲ 30.7% |
| Equity10/15 | €53,408 | €94,121 | €212,474 | €283,472 | €276,911 | ▼ 2.3% |
| Contributions10/11 | - | €123,750 | €123,750 | €123,750 | €123,750 | = |
| Reserves13 | €47,208 | €47,208 | €88,724 | €159,722 | €153,161 | ▼ 4.1% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €47,208 | €88,724 | €159,722 | €153,161 | ▼ 4.1% |
| Profit (loss) carried forward14 | €1,052 | -€76,838 | €0 | - | - | - |
| Amounts payable17/49 | €5,987 | €2.4m | €2.5m | €2.5m | €3.4m | ▲ 34.4% |
| Amounts payable after more than one year17 | - | €2.2m | €2.3m | €2.2m | €3.1m | ▲ 37.6% |
| Financial debts170/4 | - | €2.2m | €2.3m | €2.2m | €3.1m | ▲ 37.6% |
| Amounts payable within one year42/48 | €5,987 | €200,632 | €217,290 | €251,666 | €244,814 | ▼ 2.7% |
| Current portion of amounts payable after more than one year42 | - | €152,757 | €167,640 | €169,932 | €159,211 | ▼ 6.3% |
| Trade debts44 | €422 | €20,257 | €5,350 | €42,506 | €48,165 | ▲ 13.3% |
| Suppliers440/4 | - | €20,257 | €5,350 | €42,506 | €48,165 | ▲ 13.3% |
| Taxes, remuneration and social security45 | - | €26,637 | €42,235 | €37,175 | €32,365 | ▼ 12.9% |
| Taxes450/3 | - | €22,353 | €36,431 | €30,571 | €25,663 | ▼ 16.1% |
| Remuneration and social security454/9 | - | €4,284 | €5,805 | €6,604 | €6,702 | ▲ 1.5% |
| Other amounts payable47/48 | - | €981 | €2,065 | €2,053 | €5,073 | ▲ 147% |
| Accrued charges and deferred income492/3 | - | €8,644 | €14,528 | €18,976 | €47,646 | ▲ 151% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,158 | -€76,838 | €118,353 | €70,998 | -€6,561 | ▼ 109% |
| + Depreciation and write-downs630 | - | €272,275 | €105,787 | €112,243 | €151,270 | ▲ 34.8% |
| Operating cash flow (approximation) | €8,158 | €195,438 | €224,140 | €183,240 | €144,709 | ▼ 21.0% |
| Investment in fixed assets (approximation) | - | - | -€264,817 | -€270,553 | -€1.1m | ▼ 294% |
| Change in cash | - | -€29,357 | €78,491 | -€37,394 | -€51,987 | ▼ 39.0% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €118,353
Net result €118,353 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €212,474 ▲126%
Equity rises from €94,121 to €212,474.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€76,838
Net result drops to -€76,838, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €8,158
Net result €8,158 after 2 loss-making years.
06-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 91current ratio 832.51
Current ratio from 9.12 to 832.51; short-term debt falls from €4,821 to €54.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 10 days late
2017
19-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Aalter · 1 establishment unit since 2010
Ground area
1,578 m²
Building footprint
218 m²
Volume, LiDAR
1,601 m³
Parcel 44502C0314/00_000, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
Bellemstraat 165, 9880 Aalter
since 20102.186.025.157
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44502C0314/00_000 | Flanders | 1,578 m² | 1 · 218 m² | 11.4 m · 3 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 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2024 annual accounts of Belle 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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RDC ENVIRONMENT
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 4,930 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
Founded23-02-2010
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0823358071
Also
9925:BE0823358071
Registered
19-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.