BellePath
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 16-10-2026 at the NBB all 3 filings
2024 to 2026, 3 financial years
The operating result for 2026 is 6% lower than in 2025.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Companies with the same profile, two years later
Historical observationIn July 2024, 39,278 companies had the same profile as BellePath has now. Two years later, 1.8% had gone bankrupt and 95.9% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of BellePath itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for BellePath. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €173 | - |
| Other operating charges640/8 | €150 | €299 | €0 | ▼ 100% |
| Gross operating margin9900 | €5,457 | €52,902 | €49,841 | ▼ 5.8% |
| Operating profit (loss)9901 | €5,307 | €52,603 | €49,667 | ▼ 5.6% |
| Financial charges65/66B | - | €92 | €112 | ▲ 21.7% |
| Recurring financial charges65 | - | €92 | €112 | ▲ 21.7% |
| Profit (loss) for the period before taxes9903 | €5,307 | €52,511 | €49,555 | ▼ 5.6% |
| Income taxes67/77 | €1,149 | €11,033 | €10,246 | ▼ 7.1% |
| Profit (loss) for the period9904 | €4,157 | €41,478 | €39,310 | ▼ 5.2% |
| Profit (loss) for the period to be appropriated9905 | €4,157 | €41,478 | €39,310 | ▼ 5.2% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €19,648 | €70,601 | €106,124 | ▲ 50.3% |
| Fixed assets21/28 | - | - | €3,626 | - |
| Tangible fixed assets22/27 | - | - | €3,626 | - |
| Plant, machinery and equipment23 | - | - | €1,126 | - |
| Other tangible fixed assets26 | - | - | €2,500 | - |
| Current assets29/58 | €19,648 | €70,601 | €102,499 | ▲ 45.2% |
| Amounts receivable within one year40/41 | €9,000 | €16,809 | €27,591 | ▲ 64.1% |
| Trade receivables40 | - | €16,809 | €6,304 | ▼ 62.5% |
| Other amounts receivable41 | €9,000 | €0 | €21,287 | - |
| Cash at bank and in hand54/58 | €10,648 | €53,793 | €74,907 | ▲ 39.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €19,648 | €70,601 | €106,124 | ▲ 50.3% |
| Equity10/15 | €8,157 | €49,635 | €88,945 | ▲ 79.2% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | = |
| Reserves13 | €4,157 | €45,635 | €84,945 | ▲ 86.1% |
| Distributable reserves133 | €4,157 | €45,635 | €84,945 | ▲ 86.1% |
| Amounts payable17/49 | €11,490 | €20,966 | €17,179 | ▼ 18.1% |
| Amounts payable within one year42/48 | €11,490 | €20,966 | €17,179 | ▼ 18.1% |
| Trade debts44 | €2,656 | €257 | €6,934 | ▲ 27× |
| Suppliers440/4 | €2,656 | €257 | €6,934 | ▲ 27× |
| Taxes, remuneration and social security45 | €7,749 | €18,113 | €10,246 | ▼ 43.4% |
| Taxes450/3 | €4,749 | €15,113 | €10,246 | ▼ 32.2% |
| Remuneration and social security454/9 | €3,000 | €3,000 | €0 | ▼ 100% |
| Other amounts payable47/48 | €1,085 | €2,595 | €0 | ▼ 100% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,157 | €41,478 | €39,310 | ▼ 5.2% |
| + Depreciation and write-downs630 | - | - | €173 | - |
| Operating cash flow (approximation) | €4,157 | €41,478 | €39,483 | ▼ 4.8% |
| Change in cash | - | €43,145 | €21,115 | ▼ 51.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.