BELLINCO
ActiveSummary
BELLINCO has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.3m and a net result of €24,812. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 82% 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
Profitability60▼-20
Solvency100=
Growth22▼-31
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.44 in 2024; short-term debt: 11.6% and cash: 0.2% of total assets), and 11.6% 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
Five signals. The signal on the left, the evidence on the right.
−lowers 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
88.4%
Return on assets
0.2%
Age of the figures
9 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 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
51 d early
2023
50 d early
2022
46 d early
2021
34 d early
2020
35 d early
2019
23 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 40 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 15 June (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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#4 oldest company in Zwevegem, Professional and technical services sector#6 company by equity in Zwevegem, Professional and technical services sector
Turnover
€155,965▼ 46.7%
2024 · €292,471
EBIT margin
55.3%▼ 29.9pp
2024 · 85.2%
Net result
€24,812▼ 82.0%
2024 · €137,844
Working capital
-€1.1m▼ 43.5%
2024 · -€763,194
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 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€260,678€288,193▲ 10.6%€292,471▲ 1.5%€155,965▼ 46.7%
Operating result€216,362▲ 13.5%€214,204▼ 1.0%€239,586▲ 11.8%€249,176▲ 4.0%€86,313▼ 65.4%
Net result€157,954within the sector's middle half▲ 20.8%€143,298within the sector's middle half▼ 9.3%€134,168within the sector's middle half▼ 6.4%€137,844within the sector's middle half▲ 2.7%€24,812within the sector's middle half▼ 82.0%
EBIT margin82.2%83.1%▲ 1.0pp85.2%▲ 2.1pp55.3%▼ 29.9pp
Equity€12.6mabove the sector's middle half▲ 1.3%€12.7mabove the sector's middle half▲ 1.1%€12.8mabove the sector's middle half▲ 0.8%€13.0mabove the sector's middle half▲ 1.1%€12.3mabove the sector's middle half▼ 5.3%
Total assets€13.7mabove the sector's middle half▲ 0.1%€13.9mabove the sector's middle half▲ 1.9%€14.1mabove the sector's middle half▲ 1.4%€14.3mabove the sector's middle half▲ 1.5%€13.9mabove the sector's middle half▼ 3.0%
Debt€1.1m▼ 12.0%€1.2m▲ 10.5%€1.3m▲ 7.7%€1.4m▲ 5.5%€1.6m▲ 19.1%
Working capital-€604,611below the sector's middle half▼ 14.7%-€721,592below the sector's middle half▼ 19.3%-€790,194below the sector's middle half▼ 9.5%-€763,194below the sector's middle half▲ 3.4%-€1.1mbelow the sector's middle half▼ 43.5%
Solvency92.1%above the sector's middle half▲ 1.1pp91.4%above the sector's middle half▼ 0.7pp90.9%above the sector's middle half▼ 0.5pp90.5%above the sector's middle half▼ 0.4pp88.4%above the sector's middle half▼ 2.1pp
Current ratio0.42below the sector's middle half▼ 0.080.39below the sector's middle half▼ 0.040.38below the sector's middle half=0.44below the sector's middle half▲ 0.050.32below the sector's middle half▼ 0.11
Return on assets (ROA)1.2%within the sector's middle half▲ 0.2pp1.0%within the sector's middle half▼ 0.1pp0.9%within the sector's middle half▼ 0.1pp1.0%within the sector's middle half=0.2%within the sector's middle half▼ 0.8pp
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
- 2025 Net result -82% on 2024. Demerger with ARHOL, effective 11-12-2025.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 65% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.9m
Fixed assets
€13.4m ▼ 2.6%
Current assets
€520,673 ▼ 12.1%
Equity and liabilities €13.9m
Equity
€12.3m ▼ 5.3%
Provisions
€0 ▼ 100%
Debt
€1.6m ▲ 19.1%
Debt's share of the balance-sheet total rises from 9.5% to 11.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€86,646▼
2024 · €249,176
Cash flow
€25,145▼
2024 · €137,844
Debt to equity
0.13▲
2024 · 0.10
ROE
0.2%▼
2024 · 1.1%
Interest coverage
2.45▼
2024 · 6.29
Debt ≤ 1 year
€1.6m▲
2024 · €1.4m
Income taxes
€38,952▼
2024 · €82,534
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 | €263,309 | €260,678 | €288,193 | €292,471 | €155,965 | ▼ 46.7% |
| Turnover70 | - | €260,678 | €288,193 | €292,471 | €155,965 | ▼ 46.7% |
| Other operating income74 | €263,309 | €0 | - | - | - | - |
| Operating charges60/66A | €46,947 | €46,474 | €48,608 | €43,294 | €69,652 | ▲ 60.9% |
| Services and other goods61 | €19,587 | €21,705 | €25,922 | €20,361 | €56,931 | ▲ 180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,686 | €4,639 | €571 | €0 | €333 | - |
| Other operating charges640/8 | €19,674 | €20,131 | €22,115 | €22,933 | €12,389 | ▼ 46.0% |
| Operating profit (loss)9901 | €216,362 | €214,204 | €239,586 | €249,176 | €86,313 | ▼ 65.4% |
| Financial income75/76B | €21,106 | €11,122 | €11,253 | €14,624 | €17,090 | ▲ 16.9% |
| Recurring financial income75 | €21,106 | €11,122 | €11,253 | €14,624 | €17,090 | ▲ 16.9% |
| Income from current assets751 | €21,046 | €11,122 | €11,253 | €14,624 | €17,090 | ▲ 16.9% |
| Other financial income752/9 | €60 | €0 | - | - | - | - |
| Financial charges65/66B | €21,065 | €22,850 | €38,155 | €43,422 | €39,639 | ▼ 8.7% |
| Recurring financial charges65 | €21,065 | €22,850 | €38,155 | €43,422 | €39,639 | ▼ 8.7% |
| Debt charges650 | €17,550 | €19,710 | €35,203 | €39,587 | €35,377 | ▼ 10.6% |
| Other financial charges652/9 | €3,515 | €3,139 | €2,952 | €3,835 | €4,262 | ▲ 11.1% |
| Profit (loss) for the period before taxes9903 | €216,402 | €202,476 | €212,683 | €220,378 | €63,764 | ▼ 71.1% |
| Transfer from deferred taxes780 | €31 | €0 | - | - | - | - |
| Income taxes67/77 | €58,479 | €59,179 | €78,515 | €82,534 | €38,952 | ▼ 52.8% |
| Taxes670/3 | €58,500 | €59,179 | €78,515 | €82,600 | €39,050 | ▼ 52.7% |
| Tax adjustments and reversals of tax provisions77 | €21 | €0 | - | €66 | €98 | ▲ 48.2% |
| Profit (loss) for the period9904 | €157,954 | €143,298 | €134,168 | €137,844 | €24,812 | ▼ 82.0% |
| Profit (loss) for the period to be appropriated9905 | €157,954 | €143,298 | €134,168 | €137,844 | €24,812 | ▼ 82.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.7m | €13.9m | €14.1m | €14.3m | €13.9m | ▼ 3.0% |
| Fixed assets21/28 | €13.2m | €13.5m | €13.6m | €13.7m | €13.4m | ▼ 2.6% |
| Tangible fixed assets22/27 | €716,113 | €711,474 | €710,903 | €710,903 | €180,789 | ▼ 74.6% |
| Land and buildings22 | €716,113 | €711,474 | €710,903 | €710,903 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | - | €180,789 | - |
| Financial fixed assets28 | €12.5m | €12.8m | €12.9m | €13.0m | €13.2m | ▲ 1.3% |
| Affiliated companies280/1 | €12.5m | €12.8m | €12.9m | €13.0m | €13.2m | ▲ 1.3% |
| Participating interests280 | €11.1m | €11.1m | €11.1m | €11.1m | €11.1m | = |
| Amounts receivable281 | €1.4m | €1.7m | €1.8m | €1.9m | €2.1m | ▲ 9.2% |
| Other financial fixed assets284/8 | €1,487 | €1,487 | €1,487 | €1,487 | €0 | ▼ 100% |
| Shares284 | €1,487 | €1,487 | €1,487 | €1,487 | €0 | ▼ 100% |
| Current assets29/58 | €442,413 | €452,040 | €493,299 | €592,427 | €520,673 | ▼ 12.1% |
| Amounts receivable after more than one year29 | - | €435,965 | €446,930 | €457,895 | €425,000 | ▼ 7.2% |
| Other amounts receivable291 | - | €435,965 | €446,930 | €457,895 | €425,000 | ▼ 7.2% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €424,174 | €3,611 | €22,899 | €77,058 | €61,699 | ▼ 19.9% |
| Trade receivables40 | - | - | - | - | €16,470 | - |
| Other amounts receivable41 | €424,174 | €3,611 | €22,899 | €77,058 | €45,229 | ▼ 41.3% |
| Cash at bank and in hand54/58 | €18,239 | €12,464 | €23,471 | €57,474 | €33,973 | ▼ 40.9% |
| Deferred charges and accrued income490/1 | €0 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.7m | €13.9m | €14.1m | €14.3m | €13.9m | ▼ 3.0% |
| Equity10/15 | €12.6m | €12.7m | €12.8m | €13.0m | €12.3m | ▼ 5.3% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €236,352 | ▼ 5.5% |
| Capital10 | €250,000 | €250,000 | €250,000 | €250,000 | €236,352 | ▼ 5.5% |
| Issued capital100 | €250,000 | €250,000 | €250,000 | €250,000 | €236,352 | ▼ 5.5% |
| Reserves13 | €4.7m | €4.7m | €4.7m | €4.7m | €12.1m | ▲ 159% |
| Non-distributable reserves130/1 | €25,000 | €25,000 | €25,000 | €25,000 | €23,635 | ▼ 5.5% |
| Legal reserve130 | €25,000 | €25,000 | €25,000 | €25,000 | €23,635 | ▼ 5.5% |
| Tax-exempt reserves132 | €17,184 | €17,184 | €17,184 | €17,184 | €17,184 | = |
| Distributable reserves133 | €4.6m | €4.6m | €4.6m | €4.6m | €12.0m | ▲ 160% |
| Profit (loss) carried forward14 | €7.7m | €7.8m | €7.9m | €8.1m | €0 | ▼ 100% |
| Investment grants15 | €1,634 | €1,634 | €1,634 | €1,634 | €1,403 | ▼ 14.2% |
| Provisions and deferred taxes16 | €842 | €842 | €842 | €842 | €0 | ▼ 100% |
| Deferred taxes168 | €842 | €842 | €842 | €842 | €0 | ▼ 100% |
| Amounts payable17/49 | €1.1m | €1.2m | €1.3m | €1.4m | €1.6m | ▲ 19.1% |
| Amounts payable after more than one year17 | €35,714 | €0 | - | - | - | - |
| Financial debts170/4 | €35,714 | €0 | - | - | - | - |
| Credit institutions173 | €35,714 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €1.2m | €1.3m | €1.4m | €1.6m | ▲ 19.2% |
| Current portion of amounts payable after more than one year42 | €142,857 | €35,714 | €0 | - | - | - |
| Financial debts43 | €375,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Credit institutions430/8 | €375,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Trade debts44 | €1,314 | €797 | €145 | €152 | €9,710 | ▲ 6,308% |
| Suppliers440/4 | €1,314 | €797 | €145 | €152 | €9,710 | ▲ 6,308% |
| Taxes, remuneration and social security45 | €8,500 | €8,679 | €8,500 | €2,600 | €0 | ▼ 100% |
| Taxes450/3 | €8,500 | €8,679 | €8,500 | €2,600 | €0 | ▼ 100% |
| Other amounts payable47/48 | €519,353 | €628,441 | €774,849 | €852,869 | €1.1m | ▲ 29.7% |
| Accrued charges and deferred income492/3 | - | €22,552 | €4,209 | €3,366 | €2,596 | ▼ 22.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €157,954 | €143,298 | €134,168 | €137,844 | €24,812 | ▼ 82.0% |
| + Depreciation and write-downs630 | €7,686 | €4,639 | €571 | €0 | €333 | - |
| Operating cash flow (approximation) | €165,640 | €147,937 | €134,739 | €137,844 | €25,145 | ▼ 81.8% |
| Investment in fixed assets (approximation) | - | -€251,755 | -€149,999 | -€110,000 | €356,269 | ▲ 424% |
| Change in cash | - | -€5,775 | €11,007 | €34,004 | -€23,501 | ▼ 169% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
14-01
State Gazette act
Capital & shares · RestructuringDemerger · Capital decrease · Statutes amendment9 facts ▸
State Gazette act
Capital & shares · Restructuring
Demerger · Capital decrease · Statutes amendment9 facts ▸
- General meeting, 11-12-2025
- Demerger, partiële splitsing door overneming
- Capital decrease, €13.648,17
- Statutes amendment
- Power of attorney, Isabelle VANSTEENKISTE
- Power of attorney, Stephanie MARTENS
- Power of attorney, Britt FOURNIER
- Power of attorney, Tine MAES
- Power of attorney, Laure VERMEERSCH
2025
31-12
Financial
Weakest financial yearnet €24,812 ▼82%
Net result drops to €24,812, the lowest in the series.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
26-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 1 of 12 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Zwevegem · 1 establishment unit since 1980
Ground area
9,862 m²
Building footprint
396 m²
Volume, LiDAR
2,075 m³
Parcel 34034F0512/00E000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BELLINCO
since 19802.017.598.812
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34034F0512/00E000 | Flanders | 9,862 m² | 1 · 395 m² | 9.5 m · 2 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
2 holdings · 7 subsidiaries in the treeOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
99.4%
All subsidiaries, including indirect ones 7
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
RETAIL SERVICES MANAGEMENT 100%5 subsidiaries
- SCEA Chateau BadetteFR 99.4%
According to the 2024 annual accounts of BELLINCO 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.
Acquisitions and mergers
1 transactionDemerger with:ARHOL
Capital and shareholders
Capital over the years
- 14-01-2026 Capital reduction of 13,648.17 EUR · to 236,351.83 EUR
Similar companies · same sector, comparable size
STANLEY SECURITY EUROPE
BE 0427.033.590
Tessenderlo-Ham · Eq €12,302,175
ABC HOLDING
BE 0458.116.746
Anderlecht · Eq €12,302,310
ERACON
BE 0824.638.372
Zonnebeke · Eq €12,267,962
GAMORINE
BE 0886.674.921
Knokke-Heist · Eq €12,347,781
Strado Group
BE 0831.118.071
Waregem · Eq €12,201,450
Of 5,710 companies in this sector we hold annual accounts for 3,521. 801 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded04-06-1980
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0420520635
Also
9925:BE0420520635
Registered
25-07-2025
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.