Summary
BELMAN has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,724. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
No current score
Insufficient figures
A score requires measurable solvency, liquidity and profitability. Missing figures are not a judgement about the company.
Axes · tick = 2024
Profitability-
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
93.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
19 d late
2023
30 d late
2022
22 d late
2021
22 d late
2020
30 d late
2019
53 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 29 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 22 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1,251▲ 74.3%
2022 · -€4,868
Working capital
€8,430=
2024 · €8,430
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€21,774▼ 3.9%-€2,220-€1,124▲ 49.4%
Net result€11,336▼ 29.1%-€4,868-€1,251▲ 74.3%
Equity€16,843▲ 206%€11,975▼ 28.9%€10,724▼ 10.4%€10,724=€10,724=
Total assets€21,573▲ 0.3%€12,047▼ 44.2%€11,465▼ 4.8%€11,465=€11,465=
Debt€4,730▼ 70.4%€72▼ 98.5%€741▲ 929%€741=€741=
Working capital€14,549▲ 353%€9,681▼ 33.5%€8,430▼ 12.9%€8,430=€8,430=
Staff (FTE)
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,124 in 2023 against €2,220 in 2022; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11,465
Fixed assets
€2,294 =
Current assets
€9,171 =
Equity and liabilities €11,465
Equity
€10,724 =
Debt
€741 =
Debt's share of the balance-sheet total stays at 6.5%.
Key figures and ratios
Current ratio
12.38=
2024 · 12.38
Debt to equity
0.07=
2024 · 0.07
Debt ≤ 1 year
€741=
2024 · €741
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 |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | €776 | - | - | - |
| Remuneration, social security and pensions62 | €12,860 | - | - | - | - | - |
| Other operating charges640/8 | €5,022 | - | €348 | - | - | - |
| Gross operating margin9900 | €39,656 | -€2,220 | -€776 | - | - | - |
| Operating profit (loss)9901 | €21,774 | -€2,220 | -€1,124 | - | - | - |
| Financial income75/76B | - | €10 | - | - | - | - |
| Recurring financial income75 | - | €10 | - | - | - | - |
| Financial charges65/66B | €442 | €2,658 | €128 | - | - | - |
| Recurring financial charges65 | €442 | €2,658 | €128 | - | - | - |
| Profit (loss) for the period before taxes9903 | €21,332 | -€4,868 | -€1,251 | - | - | - |
| Income taxes67/77 | €9,995 | - | - | - | - | - |
| Profit (loss) for the period9904 | €11,336 | -€4,868 | -€1,251 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €11,336 | -€4,868 | -€1,251 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21,573 | €12,047 | €11,465 | €11,465 | €11,465 | = |
| Fixed assets21/28 | €2,294 | €2,294 | €2,294 | €2,294 | €2,294 | = |
| Financial fixed assets28 | €2,294 | €2,294 | €2,294 | €2,294 | €2,294 | = |
| Current assets29/58 | €19,279 | €9,753 | €9,171 | €9,171 | €9,171 | = |
| Amounts receivable within one year40/41 | €5,269 | €1,793 | €1,793 | €1,793 | €1,793 | = |
| Other amounts receivable41 | €5,269 | €1,793 | €1,793 | €1,793 | €1,793 | = |
| Cash at bank and in hand54/58 | €14,010 | €7,960 | €4,450 | €4,450 | €4,450 | = |
| Deferred charges and accrued income490/1 | - | - | €2,928 | €2,928 | €2,928 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21,573 | €12,047 | €11,465 | €11,465 | €11,465 | = |
| Equity10/15 | €16,843 | €11,975 | €10,724 | €10,724 | €10,724 | = |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €50 | €50 | €50 | €50 | €50 | = |
| Non-distributable reserves130/1 | €50 | €50 | €50 | €50 | €50 | = |
| Reserves not available under the articles1311 | €50 | €50 | €50 | €50 | €50 | = |
| Profit (loss) carried forward14 | -€1,799 | -€6,667 | -€7,918 | -€7,918 | -€7,918 | = |
| Amounts payable17/49 | €4,730 | €72 | €741 | €741 | €741 | = |
| Amounts payable within one year42/48 | €4,730 | €72 | €741 | €741 | €741 | = |
| Trade debts44 | €2,658 | - | - | - | - | - |
| Suppliers440/4 | €2,658 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €72 | €72 | €72 | €72 | €72 | = |
| Taxes450/3 | €72 | €72 | €72 | €72 | €72 | = |
| Other amounts payable47/48 | €2,000 | - | €669 | €669 | €669 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,336 | -€4,868 | -€1,251 | - | - | - |
| Operating cash flow (approximation) | €11,336 | -€4,868 | -€1,251 | - | - | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€6,050 | -€3,511 | €0 | €0 | - |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Weakest financial yearnet -€4,868
Net result drops to -€4,868, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 33current ratio 135.48
Current ratio from 4.08 to 135.48; short-term debt falls from €4,730 to €72.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 4.08
Current ratio from 1.20 to 4.08; short-term debt falls from €15,993 to €4,730.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €15,980 ▲60.6%
Operating result €22,667, net result €15,980, both a record.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Schaarbeek
Ground area
133 m²
Building footprint
133 m²
Volume, LiDAR
1,574 m³
Parcel 21908E0011/00E016, Brussels · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21908E0011/00E016 | Brussels | 133 m² | 1 · 133 m² | 17.8 m · 5 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.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded11-04-1997
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0460411092
Also
9925:BE0460411092
Registered
11-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.