Belliard 100
ActiveSummary
Belliard 100 has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.2m and a net result of €501,878. Equity is growing by ~7.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability66▼-3
Solvency34▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 46.19 against 2.14 in 2023; short-term debt: 0.3% and cash: 10.5% of total assets), but 90.5% of the assets are financed with debt.
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Signals
Four 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
9.5%
Return on assets
3.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-06-2026, 46 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
46 d early
2024
42 d early
2023
47 d early
2022
46 d early
2021
4 d late
2020
30 d early
2019
13 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 28 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 15 June (4 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 2024, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€501,878▼ 7.5%
2023 · €542,787
Working capital
€1.5m▲ 127%
2023 · €662,881
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20202021202220232024
Operating result€728,252▲ 91.5%€630,752▼ 13.4%€1.0m▲ 63.7%€972,544▼ 5.8%€924,492▼ 4.9%
Net result€426,609above the sector's middle half€233,230above the sector's middle half▼ 45.3%€632,681above the sector's middle half▲ 171%€542,787above the sector's middle half▼ 14.2%€501,878above the sector's middle half▼ 7.5%
Equity€2.0mwithin the sector's middle half▲ 26.9%€2.2mwithin the sector's middle half▲ 11.6%€1.9mwithin the sector's middle half▼ 13.5%€992,501within the sector's middle half▼ 49.0%€1.2mwithin the sector's middle half▲ 22.4%
Total assets€12.6mabove the sector's middle half▼ 5.7%€13.8mabove the sector's middle half▲ 9.5%€14.2mabove the sector's middle half▲ 2.7%€12.8mabove the sector's middle half▼ 10.0%€12.8mabove the sector's middle half▲ 0.6%
Debt€10.6m▼ 10.1%€11.4m▲ 7.2%€12.2m▲ 7.7%€11.8m▼ 3.8%€11.6m▼ 1.3%
Working capital€719,632within the sector's middle half▼ 41.2%€1.9mabove the sector's middle half▲ 170%€1.5mabove the sector's middle half▼ 22.8%€662,881within the sector's middle half▼ 55.7%€1.5mabove the sector's middle half▲ 127%
Solvency16.0%within the sector's middle half▲ 4.1pp16.3%within the sector's middle half▲ 0.3pp13.7%within the sector's middle half▼ 2.6pp7.8%within the sector's middle half▼ 5.9pp9.5%within the sector's middle half▲ 1.7pp
Current ratio15.33above the sector's middle half▲ 10.7645.93above the sector's middle half▲ 30.602.52within the sector's middle half▼ 43.412.14within the sector's middle half▼ 0.3846.19above the sector's middle half▲ 44.05
Return on assets (ROA)3.4%within the sector's middle half▲ 3.6pp1.7%within the sector's middle half▼ 1.7pp4.5%within the sector's middle half▲ 2.8pp4.3%within the sector's middle half▼ 0.2pp3.9%within the sector's middle half▼ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 5% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €12.8m
Fixed assets
€11.3m ▼ 1.9%
Current assets
€1.5m ▲ 23.5%
Equity and liabilities €12.8m
Equity
€1.2m ▲ 22.4%
Debt
€11.6m ▼ 1.3%
Debt's share of the balance-sheet total falls from 92.2% to 90.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▼
2023 · €1.3m
Cash flow
€784,539▼
2023 · €822,911
Debt to equity
9.56▼
2023 · 11.85
ROE
41.3%▼
2023 · 54.7%
Interest coverage
5.09▼
2023 · 5.38
Debt ≤ 1 year
€33,236▼
2023 · €579,835
Debt > 1 year
€11.0m▲
2023 · €10.5m
Income taxes
€185,392▼
2023 · €196,955
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 143 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.1%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% 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 143 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €253,893 | €270,564 | €274,890 | €280,124 | €282,661 | ▲ 0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €18,681 | -€13,460 | €5,058 | ▲ 138% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €198,440 | -€198,440 | - | - | - |
| Other operating charges640/8 | - | €327,825 | €378,050 | €429,030 | €428,396 | ▼ 0.1% |
| Gross operating margin9900 | €1.3m | €1.4m | €1.5m | €1.7m | €1.6m | ▼ 1.7% |
| Operating profit (loss)9901 | €728,252 | €630,752 | €1.0m | €972,544 | €924,492 | ▼ 4.9% |
| Financial income75/76B | - | €2,557 | €0 | - | - | - |
| Recurring financial income75 | - | €2,557 | €0 | - | - | - |
| Financial charges65/66B | - | €236,110 | €239,340 | €232,802 | €237,222 | ▲ 1.9% |
| Recurring financial charges65 | €233,043 | €236,110 | €239,340 | €232,802 | €237,222 | ▲ 1.9% |
| Profit (loss) for the period before taxes9903 | €495,209 | €397,199 | €793,073 | €739,742 | €687,270 | ▼ 7.1% |
| Income taxes67/77 | €68,600 | €163,969 | €160,392 | €196,955 | €185,392 | ▼ 5.9% |
| Profit (loss) for the period9904 | €426,609 | €233,230 | €632,681 | €542,787 | €501,878 | ▼ 7.5% |
| Profit (loss) for the period to be appropriated9905 | €426,609 | €233,230 | €632,681 | €542,787 | €501,878 | ▼ 7.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.6m | €13.8m | €14.2m | €12.8m | €12.8m | ▲ 0.6% |
| Fixed assets21/28 | €11.8m | €11.8m | €11.7m | €11.5m | €11.3m | ▼ 1.9% |
| Tangible fixed assets22/27 | €11.8m | €11.8m | €11.7m | €11.5m | €11.3m | ▼ 1.9% |
| Land and buildings22 | - | €11.8m | €11.7m | €11.5m | €11.3m | ▼ 1.9% |
| Current assets29/58 | €769,848 | €2.0m | €2.5m | €1.2m | €1.5m | ▲ 23.5% |
| Amounts receivable within one year40/41 | €1,127 | €3,007 | €205,882 | €12,689 | €6,288 | ▼ 50.4% |
| Trade receivables40 | - | €1,976 | €200,243 | €4,005 | €2,203 | ▼ 45.0% |
| Other amounts receivable41 | - | €1,031 | €5,639 | €8,683 | €4,085 | ▼ 53.0% |
| Cash at bank and in hand54/58 | €762,436 | €2.0m | €2.3m | €1.2m | €1.3m | ▲ 9.6% |
| Deferred charges and accrued income490/1 | - | - | €438 | €468 | €181,086 | ▲ 38,615% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.6m | €13.8m | €14.2m | €12.8m | €12.8m | ▲ 0.6% |
| Equity10/15 | €2.0m | €2.2m | €1.9m | €992,501 | €1.2m | ▲ 22.4% |
| Contributions10/11 | - | €1.9m | €1.9m | €992,000 | €712,000 | ▼ 28.2% |
| Profit (loss) carried forward14 | €70,804 | €304,033 | €714 | €501 | €502,379 | ▲ 100,155% |
| Provisions and deferred taxes16 | - | €198,440 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €198,440 | - | - | - | - |
| Environmental obligations163 | - | €198,440 | - | - | - | - |
| Amounts payable17/49 | €10.6m | €11.4m | €12.2m | €11.8m | €11.6m | ▼ 1.3% |
| Amounts payable after more than one year17 | €10.5m | €10.5m | €10.5m | €10.5m | €11.0m | ▲ 4.5% |
| Financial debts170/4 | - | €10.5m | €10.5m | €10.5m | €11.0m | ▲ 4.5% |
| Amounts payable within one year42/48 | €50,216 | €43,190 | €982,569 | €579,835 | €33,236 | ▼ 94.3% |
| Trade debts44 | €38,476 | €31,688 | €31,685 | €28,492 | €23,720 | ▼ 16.7% |
| Suppliers440/4 | - | €31,688 | €31,685 | €28,492 | €23,720 | ▼ 16.7% |
| Taxes, remuneration and social security45 | - | €2,441 | €5,824 | €3,082 | €4,255 | ▲ 38.0% |
| Taxes450/3 | - | €2,441 | €5,824 | €3,082 | €4,255 | ▲ 38.0% |
| Other amounts payable47/48 | - | €9,060 | €945,060 | €548,260 | €5,260 | ▼ 99.0% |
| Accrued charges and deferred income492/3 | - | €809,133 | €746,843 | €683,365 | €610,173 | ▼ 10.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €426,609 | €233,230 | €632,681 | €542,787 | €501,878 | ▼ 7.5% |
| + Depreciation and write-downs630 | €253,893 | €270,564 | €274,890 | €280,124 | €282,661 | ▲ 0.9% |
| Operating cash flow (approximation) | €680,502 | €503,794 | €907,570 | €822,911 | €784,539 | ▼ 4.7% |
| Investment in fixed assets (approximation) | - | -€252,428 | -€153,942 | -€99,015 | -€62,088 | ▲ 37.3% |
| Change in cash | - | €1.2m | €292,963 | -€1.0m | €118,174 | ▲ 111% |
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
22-07
State Gazette act
Permanent representatives: Arnaud Gain and Didier Matriche4 facts ▸
State Gazette act
Permanent representatives: Arnaud Gain and Didier Matriche
4 facts ▸
- General meeting, 11-06-2026
- Permanent representative, Arnaud Gain (permanent representative)
- Permanent representative, Didier Matriche (permanent representative)
- Other statement, commissaris, mandaat van commissaris
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 22current ratio 46.19
Current ratio from 2.14 to 46.19; short-term debt falls from €579,835 to €33,236.
31-12
Financial
Equity above €1mEq €1.2m ▲22.4%
5 profitable years in a row build equity to €1.2m.
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €632,681 ▲171%
Operating result €1.0m, net result €632,681, both a record.
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 4 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 45.93
Current ratio from 15.33 to 45.93; short-term debt falls from €50,216 to €43,190.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €426,609
Net result €426,609 after 2 loss-making years.
Show earlier events
31-12
Financial
Liquidity triplescurrent ratio 15.33
Current ratio from 4.57 to 15.33; short-term debt falls from €342,964 to €50,216.
31-12
Financial
Equity above €2mEq €2.0m ▲26.9%
Equity rises from €1.6m to €2.0m.
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 13 days late
2019
31-12
Financial
Liquidity times 67current ratio 4.57
Current ratio from 0.07 to 4.57; short-term debt falls from €11.4m to €342,964.
31-12
Financial
Equity above €1mEq €1.6m
Equity rises from -€275,618 to €1.6m.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 2017
Ground area
984 m²
Building footprint
330 m²
Volume, LiDAR
8,223 m³
Parcel 21019A0199/02B002, Brussels · tallest building 29.4 m, ±9 floors. Linked by address, not a title deed.
32
companies at this address
See who is registered here
1 establishment unit
Belliard 100
since 20172.267.225.441
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21019A0199/02B002 | Brussels | 984 m² | 1 · 330 m² | 29.4 m · 9 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.
Public money · subsidies and aid
European Union, budget
2025 · 3 entries · 1,575,716 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 3 | 1,575,716 EUR |
Projects
LEASE OF BUILDINGS
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 3,101 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
Founded19-07-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0678739979
Registered
10-12-2025
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.