Belmar
ActiveSummary
Belmar has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €43,071 and a net result of -€40,969. Equity is shrinking by ~20% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 67% of 6161 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency71▼-29
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 4.06 in 2023; short-term debt: 53.6% and cash: 4.9% of total assets), but 53.6% of the assets are financed with debt.
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Signals
Six 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
46.4%
Return on assets
-44.1%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€40,969
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
29 d late
2022
30 d late
2021
30 d late
2020
31 d late
2019
53 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 48% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€43,071▼ 48.7%
2023 · €84,039
Total assets
€92,825▼ 12.0%
2023 · €105,518
Net result
-€40,969▼ 71.0%
2023 · -€23,963
Working capital
€25,049▼ 61.8%
2023 · €65,653
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service 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-€29,408▼ 72.9%-€31,631▼ 7.6%€5,976-€23,792-€40,896▼ 71.9%
Net result-€29,054below the sector's middle half▼ 104%-€31,243below the sector's middle half▼ 7.5%€6,777within the sector's middle half-€23,963below the sector's middle half-€40,969below the sector's middle half▼ 71.0%
Equity€132,469above the sector's middle half▼ 18.0%€101,226above the sector's middle half▼ 23.6%€108,002above the sector's middle half▲ 6.7%€84,039above the sector's middle half▼ 22.2%€43,071within the sector's middle half▼ 48.7%
Total assets€140,477within the sector's middle half▼ 17.3%€110,757within the sector's middle half▼ 21.2%€114,714within the sector's middle half▲ 3.6%€105,518within the sector's middle half▼ 8.0%€92,825within the sector's middle half▼ 12.0%
Debt€8,008▼ 5.0%€9,531▲ 19.0%€6,712▼ 29.6%€21,479▲ 220%€49,755▲ 132%
Working capital€112,957above the sector's middle half▼ 20.6%€82,111above the sector's middle half▼ 27.3%€89,252above the sector's middle half▲ 8.7%€65,653above the sector's middle half▼ 26.4%€25,049within the sector's middle half▼ 61.8%
Solvency94.3%above the sector's middle half▼ 0.7pp91.4%above the sector's middle half▼ 2.9pp94.1%above the sector's middle half▲ 2.8pp79.6%above the sector's middle half▼ 14.5pp46.4%within the sector's middle half▼ 33.2pp
Current ratio15.11above the sector's middle half▼ 2.789.62above the sector's middle half▼ 5.4914.30above the sector's middle half▲ 4.684.06above the sector's middle half▼ 10.241.50within the sector's middle half▼ 2.55
Return on assets (ROA)-20.7%below the sector's middle half▼ 12.3pp-28.2%below the sector's middle half▼ 7.5pp5.9%within the sector's middle half▲ 34.1pp-22.7%below the sector's middle half▼ 28.6pp-44.1%below the sector's middle half▼ 21.4pp
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40,896 in 2024 against €23,792 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €92,825
Fixed assets
€18,022 ▼ 2.0%
Current assets
€74,804 ▼ 14.1%
Equity and liabilities €92,825
Equity
€43,071 ▼ 48.7%
Debt
€49,755 ▲ 132%
Debt's share of the balance-sheet total rises from 20.4% to 53.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€40,531▼
2023 · -€23,427
Cash flow
-€40,604▼
2023 · -€23,599
Debt to equity
1.16▲
2023 · 0.26
ROE
-95.1%▼
2023 · -28.5%
Interest coverage
-226.97▼
2023 · -136.87
Debt ≤ 1 year
€49,755▲
2023 · €21,479
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 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% | 1.9% |
| 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 5,834 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €30 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €454 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €359 | €364 | €364 | €364 | €364 | = |
| Other operating charges640/8 | - | €10,137 | €5,141 | €5,759 | €564 | ▼ 90.2% |
| Non-recurring operating charges66A | - | €9,795 | - | - | - | - |
| Gross operating margin9900 | -€24,428 | -€10,880 | €11,482 | -€17,669 | -€39,967 | ▼ 126% |
| Operating profit (loss)9901 | -€29,408 | -€31,631 | €5,976 | -€23,792 | -€40,896 | ▼ 71.9% |
| Financial income75/76B | - | €575 | €522 | - | €106 | - |
| Recurring financial income75 | €544 | €575 | €522 | - | €106 | - |
| Financial charges65/66B | - | €187 | -€278 | €171 | €179 | ▲ 4.3% |
| Recurring financial charges65 | €190 | €187 | -€278 | €171 | €179 | ▲ 4.3% |
| Profit (loss) for the period before taxes9903 | -€29,054 | -€31,243 | €6,777 | -€23,963 | -€40,969 | ▼ 71.0% |
| Profit (loss) for the period9904 | -€29,054 | -€31,243 | €6,777 | -€23,963 | -€40,969 | ▼ 71.0% |
| Profit (loss) for the period to be appropriated9905 | -€29,054 | -€31,243 | €6,777 | -€23,963 | -€40,969 | ▼ 71.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,477 | €110,757 | €114,714 | €105,518 | €92,825 | ▼ 12.0% |
| Fixed assets21/28 | €19,512 | €19,115 | €18,751 | €18,386 | €18,022 | ▼ 2.0% |
| Tangible fixed assets22/27 | €18,910 | €18,513 | €18,149 | €17,784 | €17,420 | ▼ 2.0% |
| Land and buildings22 | - | €18,137 | €17,896 | €17,655 | €17,415 | ▼ 1.4% |
| Furniture and vehicles24 | - | €376 | €253 | €129 | €5 | ▼ 96.1% |
| Financial fixed assets28 | €602 | €602 | €602 | €602 | €602 | = |
| Current assets29/58 | €120,965 | €91,642 | €95,963 | €87,132 | €74,804 | ▼ 14.1% |
| Amounts receivable within one year40/41 | €27,860 | €76,501 | €84,109 | €83,849 | €70,288 | ▼ 16.2% |
| Trade receivables40 | - | €67,801 | €75,570 | €77,144 | €57,334 | ▼ 25.7% |
| Other amounts receivable41 | - | €8,700 | €8,540 | €6,705 | €12,954 | ▲ 93.2% |
| Cash at bank and in hand54/58 | €83,309 | €15,141 | €11,854 | €3,282 | €4,516 | ▲ 37.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,477 | €110,757 | €114,714 | €105,518 | €92,825 | ▼ 12.0% |
| Equity10/15 | €132,469 | €101,226 | €108,002 | €84,039 | €43,071 | ▼ 48.7% |
| Contributions10/11 | €130,000 | €130,000 | €130,000 | €130,000 | €130,000 | = |
| Capital10 | - | €130,000 | - | - | €130,000 | - |
| Issued capital100 | - | €130,000 | - | - | €130,000 | - |
| Outside capital11 | - | - | €130,000 | €130,000 | - | - |
| Other1109/19 | - | - | €130,000 | €130,000 | - | - |
| Reserves13 | €232,983 | €232,983 | €232,983 | €232,983 | €232,983 | = |
| Non-distributable reserves130/1 | - | €12,767 | €12,767 | €12,767 | €12,767 | = |
| Reserves not available under the articles1311 | - | €12,767 | €12,767 | €12,767 | €12,767 | = |
| Tax-exempt reserves132 | - | €42,740 | €42,740 | €42,740 | €42,740 | = |
| Distributable reserves133 | - | €177,477 | €177,477 | €177,477 | €177,477 | = |
| Profit (loss) carried forward14 | -€230,514 | -€261,757 | -€254,980 | -€278,944 | -€319,912 | ▼ 14.7% |
| Amounts payable17/49 | €8,008 | €9,531 | €6,712 | €21,479 | €49,755 | ▲ 132% |
| Amounts payable within one year42/48 | €8,008 | €9,531 | €6,712 | €21,479 | €49,755 | ▲ 132% |
| Trade debts44 | €1,595 | €3,118 | €3,379 | €3,602 | €380 | ▼ 89.5% |
| Suppliers440/4 | - | €3,118 | €3,379 | €3,602 | €380 | ▼ 89.5% |
| Taxes, remuneration and social security45 | - | €672 | €892 | €56 | €560 | ▲ 893% |
| Taxes450/3 | - | €672 | €892 | €56 | €560 | ▲ 893% |
| Other amounts payable47/48 | - | €5,741 | €2,441 | €17,820 | €48,814 | ▲ 174% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€29,054 | -€31,243 | €6,777 | -€23,963 | -€40,969 | ▼ 71.0% |
| + Depreciation and write-downs630 | €359 | €364 | €364 | €364 | €364 | = |
| Operating cash flow (approximation) | -€28,694 | -€30,879 | €7,141 | -€23,599 | -€40,604 | ▼ 72.1% |
| Investment in fixed assets (approximation) | - | €33 | €0 | €0 | €0 | - |
| Change in cash | - | -€68,168 | -€3,287 | -€8,572 | €1,234 | ▲ 114% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€40,969
Net result drops to -€40,969, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €6,777
Net result €6,777 after 4 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
19-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Elsene · 1 establishment unit since 1972
Ground area
1,826 m²
Building footprint
612 m²
Volume, LiDAR
8,018 m³
2 parcels, Brussels · tallest building 21.3 m, ±6 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
1 establishment unit
Vanderkinderestraat 564A, 1180 Ukkel
since 19722.006.841.116
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0415/00D000 | Brussels | 1,150 m² | - | - |
| 21612C0001/00N053 | Brussels | 676 m² | 1 · 612 m² | 21.3 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,998 companies in sector 96999 we hold annual accounts for 603. 434 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-01-1972
Fiscal year end31-12
Activities, NACEBEL 2025
96999Other personal services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0412000075
Also
9925:BE0412000075
Registered
23-06-2025
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.
General meetings
4 convocationsOrdinary general meeting
- Rapport du C.A. - Approbation comptes annuels. - Affectation résultats. - Décharge administrateurs. - Démissions/Nominations. - Divers.
Extraordinary general meeting
Agenda
Rapport du C.A. Approbation comptes annuels. Affectation résultats. Décharge administrateurs. Démissions/Nominations. Divers. (AOPC-1-14-00066/ 13.03) (9290) (Dit bericht had moeten verschijnen in het Belgisch Staatsblad dd. 11 maart 2014). NV BEKAERT SA, naamloze vennootschap, Bekaertstraat 2, 8550 Zwevegem (België) Ondernemingsnummer : 0405.388.536 Oproeping tot de buitengewone algemene vergadering van aandeelhouders De aandeelhouders, de houders van warrants en de houders van obligaties worden verzocht de Buitengewone Algemene Vergadering van Aandeelhouders bij te wonen die gehouden wordt op donderdag 10 april 2014, om 11 u. 30 m., in de kantoren van de vennootschap, Otegemstraat 83, 8550 ...
Extraordinary general meeting
Agenda
Rapport du C.A. Approbation comptes annuels. Affectation résultats. Décharge administrateurs. Nominations. Divers. (AOPC11201765/ 14.03) (9307) IMMOBILIERE DES DEUX MAISONS, société anonyme, en liquidation, en abrégé : I.D.M SA, avenue Reine Astrid 92, 1310 La Hulpe Numéro d’entreprise : 0476.174.285 Convocation aux assemblées générales ordinaire et extraordinaire des Actionnaires de la SA Immobilière des Deux Maisons, en liquida- tion. Ces Assemblées Générales se tiendront le lundi 15 avril 2013 à 11 heures au siège social de la société (avenue Reine Astrid 92, à 1310 La Hulpe) : Ordre du jour à l’Assemblée Générale Ordinaire : 1. Lecture du rapport du liquidateur et du Commissaire. 2. Appr ...
Extraordinary general meeting
Agenda
Rapport du C.A. Approbation comptes annuels. Affectation résultats. Décharge administrateurs. Nominations. Divers. (AOPC1809216/12.03) (8321) CLASSIC FINANCIAL SOLUTIONS, naamloze vennootschap, Brusselsesteenweg 321, 3090 OVERIJSE Ingeschreven in het rechtspersonenregister te Brussel onder nummer 0444.606.230 Bijzondere algemene vergadering vrijdag 27 maart 2009, om 11 uur, in het kantoor van notaris M. Van den Moortel, Graven Egmont en Hoornlaan 18a, 3090 Overijse. Agenda : 1. Aanpassing van de tekst van artikel 1 van de statuten; 2. A) Verslag opgesteld door de raad van bestuur in toepassing van artikel 559 van het Wetboek van vennootschappen, met in bijlage een boekhoudkundige staat die n ...