Equity
€136,430 ▲ 79.1%
Equity rose in 2025 from €76,174 to €136,430.
Belluca
Overview
Lifetime
2 annual accounts with figures on one time axispeak €102,695 (2024)
€80,033▼ 22.1%
peak €74,892 (2024)
€61,758▼ 17.5%
peak €136,430 (2025)
€136,430▲ 79.1%
€24,817▼ 22.6%
Board2 names since 2023
1 directorBaeke, Isabelle
Documentsfilings and deeds
12-05-202680 days before the deadline
2025micro format
Gross margin from €102,695 to €80,033Dividend €1,666Equity from €76,174 to €136,430Debts from €32,064 to €24,817Cash from €52,446 to €12,251
Key points
from the 2025 annual accountsChecked score
92
Excellent
Financially stronger than 76% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.5%▲ +0.1 percentage points vs 12-2024
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.6%▲ +0.1 percentage points vs 04-2025highest value
06-2025: < 0.1%▼ -0.6 percentage points vs 05-2025lowest value
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: 0.2%▲ +0.2 percentage points vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Founded in 2023
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Figures for financial year 2025 (filed on 13-05-2026)
Equity €136,430 (84.6% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 86% of them on solvency, 47% on liquidity, 84% on profitability and 86% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 39,278 companies had the same profile as Belluca has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Belluca itself is lower: 0.2% within 12 months. It rests on far more data about Belluca than the profile alone.
Test of the method
The method was tested on the 497,447 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 Belluca. 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.
Credit verdict
Credit of up to €12,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 6.64 (3.2 in 2024), above the usual 1.5. Short-term debt is 15.1% and cash 7.6% of total assets. 15.4% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 12-05-2026, 80 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
80 days early
2024
86 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 83 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- BAEKELANDT, Luc Joseph 50 sharesdeed of 23-06-2023
- Baeke, Isabelle 50 sharesdeed of 23-06-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0802977282
Incorporation
Founding capital of €3,000, 100 shares · Founders: BAEKELANDT, Luc Joseph; Baeke, Isabelle · Appointments: Baeke, Isabelle (statutory director) and BAEKELANDT, Luc Joseph (statutory director) · published on 23-06-2023 · Gazette deed
First establishment
IJsmolenstraat 6, Ronse
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Belluca Ronse | €161,247 | €80,033 | 84.6% | - |
| GAJA TECH Ronse | €173,877 | €78,203 | 18.8% | - |
| Devillé Consulting Beveren-Kruibeke-Zwijndrecht | €154,274 | €80,688 | 75.4% | - |
| KAVAUT Finance Sint-Niklaas | €155,940 | €77,444 | 76.8% | - |
| LAONI COPPI Ghent | €147,569 | €79,375 | 84.9% | - |
| Allan De Brueker Beveren-Kruibeke-Zwijndrecht | €144,168 | €77,835 | 91.7% | - |
| ODACE Dendermonde | €180,084 | €75,817 | 54.8% | - |
These companies have the same main activity as Belluca: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €144,000 and €180,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 21-06-2023Normal situation
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Establishment unit
- 2.347.322.7949600 Ronse, since 21-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 06-03-2025
Annual accounts 2025
- €80,033▼ 22.1%
- €61,758▼ 17.5%
- €136,430▲ 79.1%
- €161,247▲ 49.0%
- Filing
- Filed on 12-05-2026, 80 days before the end of the filing period
Insights on Belluca
Belluca has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €136,430 and a net result of €61,758.
Its solvency ranks better than 83% of 39,364 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 12-05-2026, 80 days before the deadline€80,033
▼ 22.1%
€79,166
▼ 18.5%
€61,758
▼ 17.5%
€136,963
▲ 97.2%
84.6%
▲ 14.2 percentage points
6.64
▲ 3.44
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €120,000 and €210,000.
Balance sheet
balance sheet total €161,247 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
84.6%
Higher than 83% of 39,364 companies in 2025.
6.64
Higher than 84% of 38,048 companies in 2025.
38.3%
Higher than 79% of 38,520 companies in 2025.
Belluca
Middle half of the sector
80% of the sector
Micro accounts in head offices and management consultancy (NACE 70)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
161,247 | 108,239 | |
21/28 |
0 | 7,267 | |
22/27 |
0 | 7,267 | |
24 |
0 | 7,267 | |
29/58 |
161,247 | 100,972 | |
40/41 |
38,616 | 47,211 | |
40 |
37,940 | 47,190 | |
41 |
676 | 21 | |
50/53 |
110,008 | - | |
54/58 |
12,251 | 52,446 | |
490/1 |
373 | 1,315 | |
| Balance sheet: equity and liabilities | |||
10/49 |
161,247 | 108,239 | |
10/15 |
136,430 | 76,174 | |
10/11 |
3,000 | 3,000 | |
13 |
133,430 | 73,338 | |
133 |
133,430 | 73,338 | |
14 |
0 | -163 | |
17/49 |
24,817 | 32,064 | |
42/48 |
24,284 | 31,531 | |
44 |
2,265 | 1,603 | |
440/4 |
2,265 | 1,603 | |
45 |
16,902 | 25,491 | |
450/3 |
13,902 | 22,491 | |
454/9 |
3,000 | 3,000 | |
47/48 |
5,117 | 4,438 | |
492/3 |
533 | 533 | |
| Income statement | |||
9900 |
80,033 | 102,695 | |
630 |
0 | 3,364 | |
640/8 |
867 | 2,167 | |
9901 |
79,166 | 97,164 | |
75/76B |
12 | - | |
75 |
12 | - | |
65/66B |
1,092 | 146 | |
65 |
1,092 | 146 | |
9903 |
78,086 | 97,018 | |
67/77 |
16,328 | 22,126 | |
9904 |
61,758 | 74,892 | |
9905 |
61,758 | 74,892 | |
| Appropriation of the result | |||
9906 |
61,758 | 74,892 | |
691/2 |
60,092 | 73,338 | |
6921 |
60,092 | 73,338 | |
694/7 |
1,666 | 1,718 | |
694 |
1,666 | 1,718 | |
| Document | |||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 12-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 79,166 | 100,528 | ||
| 61,758 | 78,256 | ||
| -7,267 | 10,631 | ||
| -40,195 | - | ||
| 136,963 | 69,441 | ||
| 84.6% | 70.4% | ||
| 6.64 | 3.20 | ||
| 0.18 | 0.42 | ||
| 45.3% | 98.3% | ||
| 38.3% | 69.2% | ||
| 72.52 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | - | €10,631 |
| €0 | €3,364 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on Belluca
The operating result for 2025 is 19% lower than in 2024.
Debt's share of the balance-sheet total falls from 29.6% to 15.4%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, since incorporationStatutory director
appointed by deed of 23-06-2023
listed in the 2025 annual accounts, filed on 12-05-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 23-06-2023
Mandates through the years
2 names, the dashed line is todayBaeke, Isabelle
Statutory director
Statutory director
BAEKELANDT, Luc Joseph
Statutory director
Statutory director
BoardEarlierend not dated
Mandates as a list
- Baeke, Isabelle
- Statutory director, appointed by deed of 23-06-2023, still in office
- BAEKELANDT, Luc Joseph
- Statutory director, appointed by deed of 23-06-2023, no longer listed in the 2025 annual accounts
Control
Founders
This company
Belluca
Equity €136,430
Profit €61,758 in 2025
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €1,364 in 2025
- Source
- deed of 23-06-2023
Articles of association
deed of 23-06-2023 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of May at 10:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Shareholders
At incorporation
deed of 23-06-2023 ↗
- BAEKELANDT, Luc Joseph 50 shares (50%) · €1,500
- Baeke, Isabelle 50 shares (50%) · €1,500
Network & group
No group
Belluca has no parent and no holdings in its annual accounts. Baeke, Isabelle is the only director. Belluca shares no director with another company.
Timeline
Timeline
7 events since 2023Filings
Financial
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed PDFmicro format · 80 days before the deadline
2025
Liquidity more than doubled current ratio 6.64 The current ratio rises from 3.20 to 6.64. Short-term debt falls from €31,531 to €24,284.
Equity above €100,000 equity €136,430 ▲79.1% With a profit in every financial year since 2024, equity grows to €136,430.
Annual accounts 2024 filed PDFmicro format · 86 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0802977282
2023
IncorporationFounding capital of €3,000, 100 shares · Founders: BAEKELANDT, Luc Joseph; Baeke, Isabelle · Appointments: Baeke, Isabelle (statutory director) and BAEKELANDT, Luc Joseph (statutory director) · published on 23-06-20236 points ▸
- Registered office clause, IJsmolenstraat 6, 9600 Ronse
- Director appointment, Baeke, Isabelle (statutory director), mentioned twice in the deed
- Founder, BAEKELANDT, Luc Joseph
- Founder, Baeke, Isabelle
- Founding capital, €3,000, 100 shares
- Director appointment, BAEKELANDT, Luc Joseph (statutory director)
- The deed holds 2 more points.
First establishment IJsmolenstraat 6, Ronse
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Belluca was incorporated on 21 June 2023 as a private limited company by two natural persons, with a starting capital of €3,000.12 Baeke, Isabelle is statutory director of the company, appointed by deed of 23-06-2023.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Identity
- Enterprise number
- 0802.977.282
- VAT number
- BE 0802.977.282
- Peppol ID
- 0208:0802977282
- Other Peppol ID
- 9925:BE0802977282
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 21-06-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of May at 10:00deed of 23-06-2023 (in Dutch)
- Peppol
- Reachable since 06-03-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Belluca in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 23-06-2023 (in Dutch)
Activities
NACEBEL 202570200
Business and other management consultancy main activity
Codes under NACEBEL 2008
70220
Business consulting main activity
64200
Holdings
70100
Activities of head offices
82990
Other business support services
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “De samenstelling en het beheer van onroerend vermogen en de huurfinanciering of onroerende leasing van onroerende goederen aan derden,het…”deed of 23-06-2023 (in Dutch)
10 activities
- De samenstelling en het beheer van onroerend vermogen en de huurfinanciering of onroerende leasing van onroerende goederen aan derden,het verwerven door aankoop of anderszins,het verkopen,het verhuren,het ruilen,het bouwen,het verbouwen,het verbeteren,het uitrusten,het verkopen,het verhuren,het ruilen,het bouwen,het verbouwen,het verbeteren,het uitrusten,het aanpassen,het verkavelen,het prospecteren,en het uitbaten van onroerende goederen
- Het uitoefenen van managements-,consulting-,beheers- en beleggingsactiviteiten,waaronder begrepen;het uitoefenen van managementfuncties in diversen ondernemingen,het sluiten van consultingsovereenkomsten en het uitoefenen van consulting functies in andere ondernemingen
- Het houden,kopen,verkopen,huren verhuren en ter beschikking stellen van alle soorten handelsmerken,patenten,octrooien,licenties,trademarks en copyrights en het verrichten van alle activiteiten die hiermee verband houden
- Het verlenen van adviezen en hulp aan het bedrijfsleven en de overheid,op het gebied van planning,bedrijfsorganisatie,management,informatica,efficiëntie en toezicht,investeren,nemen van participaties of samenwerkingsverbanden,het verschaffen van informatie aan de bedrijfsleiding,evenals technisch advies of trainingen,uitvoeren van projectmanagement
- Het uitoefenen van administratie werkzaamheden in de ruimte zin van het woord
- Het verlenen van alle diensten,zo aan privépersonen,bedrijven,als aan de overheid
- Het verwerven van participaties in eender welke vorm in alle bestaande en/of op te richten rechtspersonen en vennootschappen
- Het waarnemen van alle bestuursopdrachten in andere vennootschappen,het uitoefenen van mandaten en functies in andere ondernemingen
- Het beheer,het verwerven,de instandhouding en valorisatie van onroerend vermogen,de huurfinanciering en het ter beschikking stellen van onroerende goederen aan derden,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van onroerende goederen te bevorderen,zoals het onderhoud,de ontwikkeling,de verfraaiing en de verhuring van deze goederen
- Alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| IJsmolenstraat 6 registered office 9600 Ronse 70100 Activities of head offices | 21-06-2023 | 2.347.322.794 |
Buildings and parcels at the address
- Ground area
- 1,529 m²
- Buildings
- 116 m²
- Volume, LiDAR
- 643 m³
- Tallest building
- 9.3 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45041B1256/00P000 | 1,529 m² | 1 · 116 m² | 9.2 m · 2 |