Bellefee
ActiveSummary
Bellefee has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.4m and a net result of €135,798. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 19% of 3243 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+3
Solvency41▼-5
Growth55=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 2.84 in 2024; short-term debt: 16.5% and cash: 2.7% of total assets), and 84.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
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
15.5%
Return on assets
0.9%
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 19% of 3243 sector peers (2025).
NBB · sector comparisonPosition among 3243 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
44 d early
2023
15 d early
2022
4 d early
2021
5 d early
2020
3 d early
2019
51 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 13 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 26 July (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 oldest company in Wielsbeke, Professional and technical services sector#6 company by total assets in Wielsbeke, Professional and technical services sector
Turnover
€931,163▲ 5.4%
2021 · €883,481
EBIT margin
14.6%▲ 9.3pp
2021 · 5.4%
Net result
€135,798▲ 93.1%
2024 · €70,318
Working capital
€511,355▼ 80.1%
2024 · €2.6m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€883,481▲ 95.1%€931,163▲ 5.4%
Operating result€47,291▼ 29.6%€136,261▲ 188%€574,016▲ 321%-€6,467€74,065
Net result€97,699within the sector's middle half▼ 32.6%€155,880within the sector's middle half▲ 59.6%€506,631above the sector's middle half▲ 225%€70,318within the sector's middle half▼ 86.1%€135,798within the sector's middle half▲ 93.1%
EBIT margin5.4%▼ 9.5pp14.6%▲ 9.3pp
Equity€3.7mabove the sector's middle half▲ 6.5%€3.2mabove the sector's middle half▼ 13.3%€3.6mabove the sector's middle half▲ 13.5%€3.6mabove the sector's middle half▼ 1.2%€2.4mwithin the sector's middle half▼ 32.5%
Total assets€12.0mabove the sector's middle half▼ 8.2%€11.8mabove the sector's middle half▼ 1.3%€10.4mabove the sector's middle half▼ 12.1%€16.9mabove the sector's middle half▲ 61.9%€15.7mabove the sector's middle half▼ 7.2%
Debt€8.2m▼ 13.6%€8.5m▲ 4.3%€6.7m▼ 21.6%€13.2m▲ 97.3%€13.2m▼ 0.2%
Working capital€6.2mabove the sector's middle half▼ 3.0%€5.4mabove the sector's middle half▼ 13.2%€5.6mabove the sector's middle half▲ 3.4%€2.6mabove the sector's middle half▼ 54.0%€511,355within the sector's middle half▼ 80.1%
Solvency30.8%within the sector's middle half▲ 4.3pp27.1%within the sector's middle half▼ 3.8pp34.9%within the sector's middle half▲ 7.9pp21.3%below the sector's middle half▼ 13.6pp15.5%below the sector's middle half▼ 5.8pp
Current ratio8.29above the sector's middle half▲ 2.643.76above the sector's middle half▼ 4.537.14above the sector's middle half▲ 3.382.84within the sector's middle half▼ 4.301.20within the sector's middle half▼ 1.64
Return on assets (ROA)0.8%within the sector's middle half▼ 0.3pp1.3%within the sector's middle half▲ 0.5pp4.9%within the sector's middle half▲ 3.5pp0.4%below the sector's middle half▼ 4.4pp0.9%within the sector's middle half▲ 0.5pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Net result +225% on 2022. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €74,065 after a loss of €6,467 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.7m
Fixed assets
€12.6m ▼ 2.6%
Current assets
€3.1m ▼ 21.9%
Equity and liabilities €15.7m
Equity
€2.4m ▼ 32.5%
Provisions
€58,094 ▼ 21.9%
Debt
€13.2m ▼ 0.2%
Debt's share of the balance-sheet total rises from 78.2% to 84.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€583,821▲
2024 · €498,715
Cash flow
€645,554▲
2024 · €575,500
Debt to equity
5.43▲
2024 · 3.67
ROE
5.6%▲
2024 · 2.0%
Interest coverage
1.73▲
2024 · 1.46
Debt ≤ 1 year
€2.6m▲
2024 · €1.4m
Debt > 1 year
€10.1m▼
2024 · €11.4m
Income taxes
€43,140▲
2024 · €22,867
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €884,071 | €1.0m | - | - | - | - |
| Turnover70 | €883,481 | €931,163 | - | - | - | - |
| Other operating income74 | €590 | €69,989 | - | - | - | - |
| Non-recurring operating income76A | - | - | €6,529 | - | - | - |
| Operating charges60/66A | €836,780 | €864,891 | - | - | - | - |
| Services and other goods61 | €207,824 | €220,493 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €502,181 | €509,826 | €509,898 | €505,183 | €509,756 | ▲ 0.9% |
| Other operating charges640/8 | €126,775 | €134,571 | €180,367 | €171,889 | €184,702 | ▲ 7.5% |
| Non-recurring operating charges66A | - | - | - | €75 | - | - |
| Gross operating margin9900 | - | - | €1.3m | €670,679 | €768,522 | ▲ 14.6% |
| Operating profit (loss)9901 | €47,291 | €136,261 | €574,016 | -€6,467 | €74,065 | ▲ 1,245% |
| Financial income75/76B | €208,338 | €183,993 | €176,345 | €424,031 | €426,864 | ▲ 0.7% |
| Recurring financial income75 | €208,338 | €183,993 | €176,345 | €424,031 | €426,864 | ▲ 0.7% |
| Other financial income752/9 | €208,338 | €183,993 | - | - | - | - |
| Financial charges65/66B | €120,727 | €110,201 | €99,114 | €340,637 | €338,249 | ▼ 0.7% |
| Recurring financial charges65 | €120,727 | €110,201 | €99,114 | €340,637 | €338,249 | ▼ 0.7% |
| Other financial charges652/9 | €120,727 | €110,201 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €134,902 | €210,053 | €651,248 | €76,927 | €162,680 | ▲ 111% |
| Transfer from deferred taxes780 | €15,646 | €16,258 | €16,258 | €16,258 | €16,258 | = |
| Income taxes67/77 | €52,848 | €70,431 | €160,875 | €22,867 | €43,140 | ▲ 88.7% |
| Taxes670/3 | €52,848 | €70,431 | - | - | - | - |
| Profit (loss) for the period9904 | €97,699 | €155,880 | €506,631 | €70,318 | €135,798 | ▲ 93.1% |
| Transfer from tax-exempt reserves789 | €46,938 | €48,774 | €48,774 | €48,774 | €48,774 | = |
| Profit (loss) for the period to be appropriated9905 | €144,638 | €204,654 | €555,404 | €119,092 | €184,571 | ▲ 55.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.0m | €11.8m | €10.4m | €16.9m | €15.7m | ▼ 7.2% |
| Fixed assets21/28 | €4.9m | €4.5m | €3.9m | €12.9m | €12.6m | ▼ 2.6% |
| Tangible fixed assets22/27 | €4.4m | €3.9m | €3.4m | €2.9m | €2.4m | ▼ 17.6% |
| Land and buildings22 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▼ 1.4% |
| Plant, machinery and equipment23 | €3.0m | €2.5m | €2.0m | €1.5m | €997,595 | ▼ 32.9% |
| Financial fixed assets28 | €566,260 | €566,198 | €565,950 | €10.0m | €10.2m | ▲ 1.7% |
| Affiliated companies280/1 | €565,950 | €565,950 | - | - | - | - |
| Participating interests280 | €565,950 | €565,950 | - | - | - | - |
| Other financial fixed assets284/8 | €310 | €248 | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €310 | €248 | - | - | - | - |
| Current assets29/58 | €7.1m | €7.4m | €6.5m | €4.0m | €3.1m | ▼ 21.9% |
| Amounts receivable after more than one year29 | €3.6m | €3.0m | €1.7m | €703,011 | - | - |
| Trade receivables290 | €2.6m | €2.0m | €1.4m | €703,011 | - | - |
| Other amounts receivable291 | €960,000 | €960,000 | €310,000 | - | - | - |
| Stocks and contracts in progress3 | - | €208,885 | - | - | - | - |
| Stocks30/36 | - | €208,885 | - | - | - | - |
| Property held for sale35 | - | €208,885 | - | - | - | - |
| Amounts receivable within one year40/41 | €1.9m | €1.9m | €1.4m | €1.8m | €2.7m | ▲ 52.3% |
| Trade receivables40 | €695,068 | €605,650 | €641,345 | €673,933 | €1.1m | ▲ 58.8% |
| Other amounts receivable41 | €1.3m | €1.3m | €750,000 | €1.1m | €1.6m | ▲ 48.2% |
| Current investments50/53 | - | - | - | €1.1m | - | - |
| Cash at bank and in hand54/58 | €1.6m | €2.3m | €3.4m | €413,516 | €426,952 | ▲ 3.2% |
| Deferred charges and accrued income490/1 | €2,461 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.0m | €11.8m | €10.4m | €16.9m | €15.7m | ▼ 7.2% |
| Equity10/15 | €3.7m | €3.2m | €3.6m | €3.6m | €2.4m | ▼ 32.5% |
| Contributions10/11 | €549,949 | €549,949 | €549,949 | €549,949 | €549,949 | = |
| Capital10 | €549,949 | €549,949 | €549,949 | €549,949 | €549,949 | = |
| Issued capital100 | €549,949 | €549,949 | €549,949 | €549,949 | €549,949 | = |
| Revaluation surpluses12 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €1.3m | €1.3m | €1.2m | €1.2m | €484,970 | ▼ 58.3% |
| Non-distributable reserves130/1 | €1.0m | €1.0m | €364,995 | €364,995 | €364,995 | = |
| Legal reserve130 | €54,995 | €54,995 | €54,995 | €54,995 | €54,995 | = |
| Reserves not available under the articles1311 | €960,000 | €960,000 | €310,000 | €310,000 | €310,000 | = |
| Tax-exempt reserves132 | €294,376 | €245,603 | €196,829 | €148,055 | €99,281 | ▼ 32.9% |
| Distributable reserves133 | €694 | €694 | €650,694 | €650,694 | €20,694 | ▼ 96.8% |
| Profit (loss) carried forward14 | €454,662 | €9,316 | €489,721 | €493,812 | €3,384 | ▼ 99.3% |
| Provisions and deferred taxes16 | €123,125 | €106,868 | €90,610 | €74,352 | €58,094 | ▼ 21.9% |
| Provisions for liabilities and charges160/5 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Major repairs and maintenance162 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Deferred taxes168 | €98,125 | €81,868 | €65,610 | €49,352 | €33,094 | ▼ 32.9% |
| Amounts payable17/49 | €8.2m | €8.5m | €6.7m | €13.2m | €13.2m | ▼ 0.2% |
| Amounts payable after more than one year17 | €7.0m | €6.2m | €5.4m | €11.4m | €10.1m | ▼ 10.7% |
| Financial debts170/4 | €7.0m | €6.2m | €5.4m | €11.4m | €10.1m | ▼ 10.7% |
| Credit institutions173 | €7.0m | €6.2m | - | - | - | - |
| Amounts payable within one year42/48 | €854,838 | €2.0m | €910,541 | €1.4m | €2.6m | ▲ 85.0% |
| Current portion of amounts payable after more than one year42 | €765,877 | €776,494 | €787,261 | €1.2m | €1.2m | ▲ 2.2% |
| Trade debts44 | - | €19,075 | €59 | €47,431 | €13,977 | ▼ 70.5% |
| Suppliers440/4 | - | €19,075 | €59 | €47,431 | €13,977 | ▼ 70.5% |
| Advances received on contracts in progress46 | - | €451,662 | - | - | - | - |
| Taxes, remuneration and social security45 | €88,960 | €60,778 | €48,221 | €44,374 | €46,611 | ▲ 5.0% |
| Taxes450/3 | €88,960 | €60,778 | €48,221 | €44,374 | €46,611 | ▲ 5.0% |
| Other amounts payable47/48 | - | €650,000 | €75,000 | €115,000 | €1.3m | ▲ 1,039% |
| Accrued charges and deferred income492/3 | €365,656 | €389,337 | €381,122 | €440,986 | €444,528 | ▲ 0.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €97,699 | €155,880 | €506,631 | €70,318 | €135,798 | ▲ 93.1% |
| + Depreciation and write-downs630 | €502,181 | €509,826 | €509,898 | €505,183 | €509,756 | ▲ 0.9% |
| Operating cash flow (approximation) | €599,881 | €665,707 | €1.0m | €575,500 | €645,554 | ▲ 12.2% |
| Investment in fixed assets (approximation) | - | -€70,675 | €53,471 | -€9.5m | -€170,077 | ▲ 98.2% |
| Change in cash | - | €725,819 | €1.1m | -€3.0m | €13,436 | ▲ 100% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €70,318 ▼86.1%
Net result drops to €70,318, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €506,631 ▲225%
Operating result €574,016, net result €506,631, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
10-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
No directors read yet: 0 of 16 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Wielsbeke · 1 establishment unit since 2014
Ground area
4.3 ha
Building footprint
3.7 ha
Parcel 37014A0276/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
BELLEFEE
since 20142.228.965.770
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37014A0276/00H000 | Flanders | 4.3 ha | 1 · 3.7 ha | - |
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 owner · 1 holdingChain of control
- Lefevere Packaging
- Bellefee
Highest known parent: Lefevere Packaging. The sources do not say who stands above it.
Owners 1
- Lefevere Packagingparent100%
Holdings 1
-
100%
According to the 2025 annual accounts of Bellefee 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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Company details
Identification
Legal formPublic limited company
Founded24-05-1976
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
68121Development of residential building projects
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0416168305
Also
9925:BE0416168305
Registered
14-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.