BELMAT
ActiveBELMAT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.06M and a net result of €40k. Equity is growing by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 46% of 275 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▲+7
Solvency63▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 2.25 against 2.64 in 2024; short-term debt: 29.9% and cash: 5.1% of total assets), but 61.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
38.1%
Return on assets
1.5%
Age of the figures
9 mo
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
67 d early
2023
9 d early
2022
48 d early
2021
5 d early
2020
39 d early
2019
18 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.06M▲ 4.0%
2024 · €1.02M
2018: €777k
2019: €811k
2020: €925k
2021: €931k
2022: €967k
2023: €992k
2024: €1.02M
2018 → 2025
Total assets
€2.78M▲ 0.4%
2024 · €2.77M
2018: €2.56M
2019: €2.61M
2020: €2.40M
2021: €2.48M
2022: €2.44M
2023: €2.66M
2024: €2.77M
2018 → 2025
Net result
€40k▲ 43.2%
2024 · €28k
2018: €12k
2019: €34k
2020: €115k
2021: €6k
2022: €36k
2023: €25k
2024: €28k
2018 → 2025
Working capital
€1.04M▼ 3.3%
2024 · €1.07M
2018: €503k
2019: €396k
2020: €792k
2021: €722k
2022: €848k
2023: €885k
2024: €1.07M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€931k-€967k▲ 3.9%€992k▲ 2.6%€1.02M▲ 2.8%€1.06M▲ 4.0%
Operating result€42k-€79k▲ 89.8%€67k▼ 15.1%€84k▲ 25.2%€95k▲ 13.5%
Net result€6k-€36k▲ 552%€25k▼ 31.2%€28k▲ 13.5%€40k▲ 43.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 13% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.78M
Fixed assets
€912k▼ 12.8%
Current assets
€1.87M▲ 8.4%
Equity and liabilities €2.78M
Equity
€1.06M▲ 4.0%
Debt
€1.72M▼ 1.6%
The debt ratio falls from 63.2% to 61.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€236k▲
2024 · €225k
Cash flow
€181k▲
2024 · €169k
Solvency
38.1%▲
2024 · 36.8%
Current ratio
2.25▼
2024 · 2.64
Quick ratio
0.57▼
2024 · 0.76
Debt / equity
1.62▼
2024 · 1.72
ROE
3.8%▲
2024 · 2.8%
ROA
1.5%▲
2024 · 1.0%
Interest coverage
6.25▲
2024 · 5.31
Debt
€1.72M▼
2024 · €1.75M
Debt ≤ 1 year
€834k▲
2024 · €653k
Debt > 1 year
€890k▼
2024 · €1.10M
Income taxes
€18k▲
2024 · €14k
Staff costs
€165k▼
2024 · €188k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.77M€2.78M▲
Fixed assets21/28€1.05M€912k▼
Tangible fixed assets22/27€1.02M€890k▼
Land and buildings22€807k€733k▼
Plant, machinery and equipment23€23k€19k▼
Furniture and vehicles24€5k€7k▲
Leasing and similar rights25€188k€131k▼
Financial fixed assets28€22k€22k=
Current assets29/58€1.73M€1.87M▲
Stocks and contracts in progress3€1.23M€1.40M▲
Stocks30/36€1.23M€1.40M▲
Amounts receivable within one year40/41€306k€320k▲
Trade receivables40€305k€320k▲
Other amounts receivable41€1k-
Cash at bank and in hand54/58€173k€142k▼
Deferred charges and accrued income490/1€17k€9k▼
Equity and liabilities
Total equity and liabilities10/49€2.77M€2.78M▲
Equity10/15€1.02M€1.06M▲
Contributions10/11€19k€19k=
Reserves13€169k€210k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€167k€208k▲
Profit (loss) carried forward14€832k€832k=
Amounts payable17/49€1.75M€1.72M▼
Amounts payable after more than one year17€1.10M€890k▼
Financial debts170/4€1.10M€890k▼
Amounts payable within one year42/48€653k€834k▲
Current portion of amounts payable after more than one year42€128k€159k▲
Trade debts44€495k€630k▲
Suppliers440/4€495k€630k▲
Taxes, remuneration and social security45€19k€35k▲
Taxes450/3€8k€35k▲
Remuneration and social security454/9€10k-
Other amounts payable47/48€11k€11k▲
Income statement
Code20242025
Remuneration, social security and pensions62€188k€165k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€141k€140k▼
Other operating charges640/8€41k€39k▼
Gross operating margin9900€453k€440k▼
Operating profit (loss)9901€84k€95k▲
Financial income75/76B€546€1k▲
Recurring financial income75€546€1k▲
Financial charges65/66B€42k€38k▼
Recurring financial charges65€42k€38k▼
Profit (loss) for the period before taxes9903€42k€59k▲
Income taxes67/77€14k€18k▲
Profit (loss) for the period9904€28k€40k▲
Profit (loss) for the period to be appropriated9905€28k€40k▲
Appropriation of the result
Profit (loss) to be appropriated9906€861k€873k▲
Profit (loss) brought forward from the previous period14P€832k€832k=
Transfer to equity691/2€28k€40k▲
To other reserves6921€28k€40k▲
Social balance
Average headcount (FTE)90876.66.0▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1MEq €1.02M ▲2.8%
7 profitable years in a row build equity to €1.02M.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €6k ▼95.2%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €115k ▲240%
Operating result €174k, net result €115k, both a record.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Antwerpen · 2 establishment units since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Middelmolenlaan 1702100 AntwerpenGround area
3,419 m²
Building footprint
3,059 m²
Volume, LiDAR
23,909 m³
2 parcels, Flanders · tallest building 37.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Belmat
since 20132.223.138.347
Belmat
since 20192.321.744.092
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11012A0265/00N000 | Flanders | 2,680 m² | 1 · 2,525 m² | 37.1 m · 3 fl. |
| 11805E0461/00M022 | Flanders | 739 m² | 1 · 534 m² | 7.7 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 1,360 EUR awarded · 1,360 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 500 EUR | 500 EUR |
| 2022 | 2 | 860 EUR | 860 EUR |
Schemes
Stagebonus (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Dual-learning approval
5 live approvals · 2 endedCommercieel assistent (vwo)
Commercieel assistent duaal (so)
Commerciële organisatie duaal (so)
Polyvalent administratief ondersteuner (vwo)
Polyvalent administratief ondersteuner duaal (so)
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HEREMANS KEUKENS
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Of 1,599 companies in sector 16230 we hold annual accounts for 783. 425 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-05-2011
Fiscal year end31-12
Activities, NACEBEL
16230Manufacture of other builders' carpentry and joinery
47521Retail sale of hardware, building materials, paint and glass (general range)
25110Manufacture of metal structures and parts of structures
42110Construction of roads and motorways
42219Civil engineering
42220Construction of utility projects for electricity and telecommunications
43120Site preparation
46831Wholesale of construction materials, general range
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.