Bellus Development
ActiveSummary
Bellus Development has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€9,320) and a net result of -€4,341. The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- -€9,320
- Loss
- -€4,341
- Largest shareholder
- Frank Reekmans · 33.33%
- Frank ReekmansDirector
- VERBRUGGE Jan Irma PeterDirector
- Vital Business SolutionsDirector · permanent representative STEVENS Mike Werner Monique
Why 53raises riskCapped at 59: negative equityNegative equity -€9,320Liquidity: current ratio 1.31, cash €15,401lowers riskSize: total assets €1.6mNo main activity registeredShow the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, micro): better than 15% on solvency, 9% on liquidity, 27% on profitability and 5% on growth.
The bankruptcy probability was computed on 30-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 1 day before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- IncorporationAppointments: VERBRUGGE Jan Irma Peter…
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result stays negative: a loss of €4,201 in 2025 against €7,856 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 1,251 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 96.6% are still going.
- Small
- 2 to 5 years old
- negative equity
- a small loss
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,251 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €2,135 | €1,392 | ▼ 34.8% |
| Gross operating margin9900 | -€5,721 | -€2,809 | ▲ 50.9% |
| Operating profit (loss)9901 | -€7,856 | -€4,201 | ▲ 46.5% |
| Financial income75/76B | - | €24 | - |
| Recurring financial income75 | - | €24 | - |
| Financial charges65/66B | €123 | €164 | ▲ 33.6% |
| Recurring financial charges65 | €123 | €164 | ▲ 33.6% |
| Profit (loss) for the period before taxes9903 | -€7,979 | -€4,341 | ▲ 45.6% |
| Profit (loss) for the period9904 | -€7,979 | -€4,341 | ▲ 45.6% |
| Profit (loss) for the period to be appropriated9905 | -€7,979 | -€4,341 | ▲ 45.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €0.8m | €1.6m | ▲ 104% |
| Current assets29/58 | €0.8m | €1.6m | ▲ 104% |
| Stocks and contracts in progress3 | €0.7m | €1.5m | ▲ 109% |
| Stocks30/36 | €0.7m | €1.5m | ▲ 109% |
| Amounts receivable within one year40/41 | - | €0.001m | - |
| Other amounts receivable41 | - | €0.001m | - |
| Cash at bank and in hand54/58 | €0.03m | €0.02m | ▼ 38.7% |
| Deferred charges and accrued income490/1 | €0.001m | €242 | ▼ 70.3% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €0.8m | €1.6m | ▲ 104% |
| Equity10/15 | -€0.005m | -€0.009m | ▼ 87.2% |
| Contributions10/11 | €0.003m | €0.003m | = |
| Profit (loss) carried forward14 | -€0.008m | -€0.01m | ▼ 54.4% |
| Amounts payable17/49 | €0.8m | €1.6m | ▲ 104% |
| Amounts payable after more than one year17 | €0.6m | €0.4m | ▼ 31.2% |
| Financial debts170/4 | €0.6m | €0.4m | ▼ 31.2% |
| Amounts payable within one year42/48 | €0.2m | €1.2m | ▲ 455% |
| Current portion of amounts payable after more than one year42 | - | €0.6m | - |
| Trade debts44 | €0.01m | €0.01m | ▼ 11.9% |
| Suppliers440/4 | €0.01m | €0.01m | ▼ 11.9% |
| Other amounts payable47/48 | €0.2m | €0.6m | ▲ 210% |
| Accrued charges and deferred income492/3 | €8 | €0 | ▼ 100% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€7,979 | -€4,341 | ▲ 45.6% |
| Operating cash flow (approximation) | -€7,979 | -€4,341 | ▲ 45.6% |
| Change in cash | - | -€9,726 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00355587 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00339666 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Permanent representatives 2
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Frank Reekmans |
|
| VERBRUGGE Jan Irma Peter |
|
| Vital Business Solutions |
|
Owners and capital
Owners
2 ownersOwners 2
-
33.33%
-
33.33%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- FILIA MANAGEMENT CONSULTING (BE 0768.760.632) founder
- FRANK REEKMANS (BE 0825.543.343) founder
- VITAL BUSINESS SOLUTIONS (BE 0793.635.390) founder
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 10-02-2023 Incorporation · €3,000 · 300 shares
Group and network
Connections & network
3 connected companiesHistory
Acts, filings and financial milestones
10-02
Gazette deed
IncorporationAppointments: VERBRUGGE Jan Irma Peter, FRANK REEKMANS and VITAL BUSINESS SOLUTIONS · Permanent representatives: REEKMANS Frank Antoon Ivonne and STEVENS Mike Werner Monique · Founder14 facts ▸
- Incorporation, 07-02-2023
- Founder, FILIA MANAGEMENT CONSULTING
- Founder, FRANK REEKMANS
- Founder, VITAL BUSINESS SOLUTIONS
- Other provision, “vertegenwoordiging comparanten bij oprichtingsakte, ingevolge onderhandse volmachten” (deed in Dutch)
- Kind of shares, “register van aandelen”, 300 (deed in Dutch)
- Capital
- Founding capital, €3,000
- Director appointment, VERBRUGGE Jan Irma Peter (class A director)
- Director appointment, FRANK REEKMANS (class B director)
- Director appointment, VITAL BUSINESS SOLUTIONS (c bestuurder)
- Permanent representative, REEKMANS Frank Antoon Ivonne
- +2 further facts in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11006A0226/03M002 | Flanders | 2,073 m² | 1 · 899 m² | 24.2 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het kopen en verkopen,huren en verhuren,bouwen en verbouwen,van onroerende goederen,met inbegrip van het aangaan in gelijk welke…” (deed in Dutch)
14 activities (deed in Dutch)
- Het kopen en verkopen,huren en verhuren,bouwen en verbouwen,van onroerende goederen,met inbegrip van het aangaan in gelijk welke hoedanigheid van leasing,opstal en erfpachtcontracten.
- De studie en de uitvoering van alle mogelijke particuliere en openbare bouwwerken,als algemene aannemer of in onderaanneming,het ontwerp en de bouw van alle mogelijke gebouwen en bouwsels,de studie en de uitvoering van binnen-en buitendecoraties.
- Het verwerven van alle mogelijke terreinen,het bouwen van openbare en particuliere gebouwen,de aankoop,de verkoop,de verhuring,de verdeling en de verkaveling van alle mogelijke onroerende goederen en rechten.
- Alle werkzaamheden met betrekking tot de verdeling van water,gas,elektriciteit,enzovoort;de vaststelling en exploitatie van alle mogelijke transportmiddelen,havens,kanalen,wegen,enzovoort.
- De aankoop,de verkoop,de verhuring,de invoer en de uitvoer van alle mogelijke materialen,goederen toestellen;en materieel,noodzakelijk voor de bouw,het onderhoud,het herstel en de vernieuwing van gebouwen.
- De voorbereiding,de opstelling en het afsluiten,zowel als mandataris als voor eigen rekening,van alle mogelijke overeenkomsten voor openbare of particuliere werken of leveringen en het uitvoeren van alle verrichtingen die daarmee gepaard gaan.
- De organisatie,waaronder ter beschikking stelling,van personeel,van ondersteunende diensten als receptie,informatievoorziening,catering,beveiliging,bewaking,inkoop,logistiek,werkplekinrichting en -uitrusting;
- Het onderzoek en de ontwikkeling,de productie,de verkoop,de verhuur,de consultancy,de expertise,het onderhoud,de import en export,en de vertegenwoordiging van alle softwareproducten en materiaal betreffende het domein van de informatica en van de kantoorinformatica en in het algemeen van het bewerken van de informatie alsmede alle andere activiteiten die er gewoonlijk mee gepaard gaan.
- Dienstverlening op het vlak van informatica,het verstrekken van softwareoplossingen;consultancy in verbetering van de productieprocessen en aangaande informatica infrastructuur.
- Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen,haar aval verlenen,haar roerende goederen in pand geven,inclusief de eigen handelszaak,of haar onroerende goederen in hypotheek geven,in de meest ruime zin,alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken,houders van deposito's op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen.
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend patrimonium,alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook.
- De verwerving van participaties onder gelijk welke vorm ook in handelsindustriële en financiële ondernemingen,zo Belgische als buitenlandse,het beheer,evenals het te gelde maken van deze participaties,de verwerving door deelneming,inschrijving,aankoop,optie of om het even welk ander middel,van alle deelbewijzen,aandelen,obligaties,waarden en titels.
- Het beheer en toezicht voeren over alle andere vennootschappen en ondernemingen van welke aard ook;het tussenkomen in het dagelijks bestuur en het vertegenwoordigen van bedrijven door onder meer het uitoefenen van mandaten van bestuurder,zaakvoerder,directeur of vereffenaar.
- De engineering,ontwikkeling,commercialiseren,vertegenwoordiging,dienstverlening met betrekking tot alle roerende goederen:materieel,machines en outillage.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Bellus Development
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)“Luitenant Lippenslaan 60, Borgerhout” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Collegiaal bestuursorgaan,ook Raad van Bestuur genoemd, alle handelingen verrichten die nodig of dienstig zijn tot verwezenlijking van het…” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “In de statuten opgelegde regelingen gelden” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of May at 12:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed