BELLEFORTÉ
ActiveSummary
BELLEFORTÉ has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €166,735 and a net result of €2,781. Equity is shrinking by ~65% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 22% of 9574 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability29▲+21
Solvency46▲+30
Growth78▲+46
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.27 against 0.92 in 2024; short-term debt: 78.8% and cash: 14.2% of total assets), and 78.9% 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 →
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
21.1%
Return on assets
0.4%
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 22% of 9574 sector peers (2025).
NBB · sector comparisonPosition among 9574 sector peers
Solvency
better than 22%
← 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 10-08-2026, 10 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 · 5 filingsDeviation from the deadline
2025
10 d late
2024
24 d late
2023
20 d late
2022
21 d late
2021
23 d late
← 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 20 days after 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. Usually files around 21 August (5 of the last 5 filed years within 30 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, micro schema
Equity
€166,735
2024 · -€36,047
Total assets
€788,431▲ 100.0%
2024 · €394,274
Net result
€2,781
2024 · -€33,289
Working capital
€167,128
2024 · -€36,478
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 71, Architectural and engineering activities; technical testing and analysis, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,597--€6,525▼ 309%-€5,274▲ 19.2%-€32,805▼ 522%€21,967
Net result-€1,647below the sector's middle half--€6,612below the sector's middle half▼ 301%-€5,309below the sector's middle half▲ 19.7%-€33,289below the sector's middle half▼ 527%€2,781within the sector's middle half
Equity€8,353below the sector's middle half-€2,552below the sector's middle half▼ 69.4%-€2,757below the sector's middle half-€36,047below the sector's middle half▼ 1,207%€166,735above the sector's middle half
Total assets€11,192below the sector's middle half-€853,223above the sector's middle half▲ 7,524%€912,040above the sector's middle half▲ 6.9%€394,274above the sector's middle half▼ 56.8%€788,431above the sector's middle half▲ 100.0%
Debt€2,839-€850,671▲ 29,863%€914,797▲ 7.5%€430,321▼ 53.0%€621,696▲ 44.5%
Working capital€6,574below the sector's middle half-€6,731within the sector's middle half▲ 2.4%€27,982within the sector's middle half▲ 316%-€36,478below the sector's middle half€167,128above the sector's middle half
Solvency74.6%above the sector's middle half-0.3%below the sector's middle half▼ 74.3pp-0.3%below the sector's middle half▼ 0.6pp-9.1%below the sector's middle half▼ 8.8pp21.1%below the sector's middle half▲ 30.3pp
Current ratio3.32within the sector's middle half-1.01below the sector's middle half▼ 2.311.03below the sector's middle half▲ 0.020.92below the sector's middle half▼ 0.121.27within the sector's middle half▲ 0.35
Return on assets (ROA)-14.7%below the sector's middle half--0.8%below the sector's middle half▲ 13.9pp-0.6%below the sector's middle half▲ 0.2pp-8.4%below the sector's middle half▼ 7.9pp0.4%below the sector's middle half▲ 8.8pp
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.
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: €21,967 after a loss of €32,805 in 2024, the highest result in the available series.
Balance-sheet composition
Equity and liabilities €788,431
Equity
€166,735
Debt
€621,696
Debt finances 78.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€22,398▲
2024 · -€32,356
Cash flow
€3,212▲
2024 · -€32,840
Quick ratio
0.18▲
2024 · 0.08
Debt to equity
3.73
ROE
1.7%
Interest coverage
1.17▲
2024 · -66.85
Debt ≤ 1 year
€621,303▲
2024 · €430,321
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,372 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.9%
went bankrupt
1.4%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,340 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% | 1.8% |
| 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 2,372 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €468 | €449 | €449 | €449 | €431 | ▼ 4.0% |
| Other operating charges640/8 | €498 | €623 | €1,397 | €2,115 | €1,293 | ▼ 38.9% |
| Gross operating margin9900 | -€631 | -€5,453 | -€3,428 | -€30,241 | €23,691 | ▲ 178% |
| Operating profit (loss)9901 | -€1,597 | -€6,525 | -€5,274 | -€32,805 | €21,967 | ▲ 167% |
| Financial charges65/66B | €50 | €87 | €35 | €484 | €19,186 | ▲ 3,864% |
| Recurring financial charges65 | €50 | €87 | €35 | €484 | €19,186 | ▲ 3,864% |
| Profit (loss) for the period before taxes9903 | -€1,647 | -€6,612 | -€5,309 | -€33,289 | €2,781 | ▲ 108% |
| Profit (loss) for the period9904 | -€1,647 | -€6,612 | -€5,309 | -€33,289 | €2,781 | ▲ 108% |
| Profit (loss) for the period to be appropriated9905 | -€1,647 | -€6,612 | -€5,309 | -€33,289 | €2,781 | ▲ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11,192 | €853,223 | €912,040 | €394,274 | €788,431 | ▲ 100.0% |
| Formation expenses20 | €1,779 | €1,330 | €880 | €431 | - | - |
| Current assets29/58 | €9,413 | €851,893 | €911,160 | €393,843 | €788,431 | ▲ 100% |
| Stocks and contracts in progress3 | - | €844,712 | €907,894 | €358,093 | €676,230 | ▲ 88.8% |
| Stocks30/36 | - | €844,712 | €907,894 | €358,093 | €676,230 | ▲ 88.8% |
| Amounts receivable within one year40/41 | €2,056 | €1,975 | €1,519 | €33,332 | - | - |
| Trade receivables40 | €1,025 | - | - | €31,925 | - | - |
| Other amounts receivable41 | €1,031 | €1,975 | €1,519 | €1,407 | - | - |
| Cash at bank and in hand54/58 | €7,357 | €5,206 | €1,747 | €2,418 | €112,201 | ▲ 4,540% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11,192 | €853,223 | €912,040 | €394,274 | €788,431 | ▲ 100.0% |
| Equity10/15 | €8,353 | €2,552 | -€2,757 | -€36,047 | €166,735 | ▲ 563% |
| Contributions10/11 | €10,000 | €10,811 | €10,811 | €10,811 | €210,811 | ▲ 1,850% |
| Profit (loss) carried forward14 | -€1,647 | -€8,259 | -€13,568 | -€46,858 | -€44,076 | ▲ 5.9% |
| Amounts payable17/49 | €2,839 | €850,671 | €914,797 | €430,321 | €621,696 | ▲ 44.5% |
| Amounts payable within one year42/48 | €2,839 | €845,162 | €883,178 | €430,321 | €621,303 | ▲ 44.4% |
| Financial debts43 | - | €542,500 | €542,500 | - | €120,175 | - |
| Credit institutions430/8 | - | €542,500 | €542,500 | - | €120,175 | - |
| Trade debts44 | €2,839 | €1,486 | €8,582 | €5,001 | €274,399 | ▲ 5,387% |
| Suppliers440/4 | €2,839 | €1,486 | €8,582 | €5,001 | €274,399 | ▲ 5,387% |
| Taxes, remuneration and social security45 | - | - | €715 | - | €1,471 | - |
| Taxes450/3 | - | - | €715 | - | €1,471 | - |
| Other amounts payable47/48 | - | €301,176 | €331,381 | €425,320 | €225,258 | ▼ 47.0% |
| Accrued charges and deferred income492/3 | - | €5,509 | €31,619 | - | €393 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,647 | -€6,612 | -€5,309 | -€33,289 | €2,781 | ▲ 108% |
| + Depreciation and write-downs630 | €468 | €449 | €449 | €449 | €431 | ▼ 4.0% |
| Operating cash flow (approximation) | -€1,179 | -€6,163 | -€4,860 | -€32,840 | €3,212 | ▲ 110% |
| Change in cash | - | -€2,151 | -€3,459 | €671 | €109,783 | ▲ 16,261% |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Back to profitnet €2,781
Net result €2,781 after 4 loss-making years.
31-12
Financial
Equity above €150,000Eq €166,735
Equity rises from -€36,047 to €166,735.
24-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 24 days late
2024
31-12
Financial
Weakest financial yearnet -€33,289
Net result drops to -€33,289, the lowest in the series; recovery starts the following year.
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
Financial 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Assenede · 1 establishment unit since 2020
Ground area
790 m²
Building footprint
186 m²
Volume, LiDAR
762 m³
Parcel 43012A0862/00C000, Flanders · tallest building 7.9 m, ±1 floor. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Woest Engineering
since 20202.312.371.023
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43012A0862/00C000 | Flanders | 790 m² | 1 · 186 m² | 7.9 m · 1 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 18,247 companies in this sector we hold annual accounts for 6,324. 5,279 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded17-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
68121Development of residential building projects
71113Urban planning and landscape architecture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0759910173
Also
9925:BE0759910173
Registered
08-10-2025
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.