BELMATIC
ActiveSummary
The computed 12-month bankruptcy probability of BELMATIC is 2.5% (moderate). The 2025 annual accounts show equity of €154k and a net result of €-136k. Equity is growing by ~49.7% per year across the filed fiscal years. Its solvency ranks better than 21% of 7838 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-87
Solvency45▼-13
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.3 against 1.91 in 2024; short-term debt: 48.5% and cash: 7.9% of total assets), and 79.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
20.4%
Return on assets
-18.1%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
39 d early
2023
19 d early
2022
17 d early
2021
19 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€154k▼ 46.9%
2024 · €291k
2021: €10klowest in 5 years
2022: €14k▲ +32.8% vs 2021
2023: €84k▲ +516% vs 2022
2024: €291k▲ +244% vs 2023highest in 5 years
2025: €154k▼ -46.9% vs 2024
2021 → 2025
Total assets
€756k▼ 14.2%
2024 · €881k
2021: €425klowest in 5 years
2022: €471k▲ +10.7% vs 2021
2023: €772k▲ +63.8% vs 2022
2024: €881k▲ +14.2% vs 2023highest in 5 years
2025: €756k▼ -14.2% vs 2024
2021 → 2025
Net result
€-136k
2024 · €127k
2021: €74k
2022: €27k▼ -63.1% vs 2021
2023: €119k▲ +334% vs 2022
2024: €127k▲ +7.3% vs 2023highest in 5 years
2025: €-136k▼ -207% vs 2024lowest in 5 years
2021 → 2025
Working capital
€108k▼ 63.2%
2024 · €295k
2021: €-4klowest in 5 years
2022: €-437▲ +89.9% vs 2021
2023: €50k▲ +11432% vs 2022
2024: €295k▲ +495% vs 2023highest in 5 years
2025: €108k▼ -63.2% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€10k-€14k▲ 32.8%€84k▲ 516%€291k▲ 244%€154k▼ 46.9%
2021: €10klowest in 5 years
2022: €14k▲ +32.8% vs 2021
2023: €84k▲ +516% vs 2022
2024: €291k▲ +244% vs 2023highest in 5 years
2025: €154k▼ -46.9% vs 2024
Operating result€79k-€31k▼ 61.2%€143k▲ 368%€184k▲ 28.8%€-122k
2021: €79k
2022: €31k▼ -61.2% vs 2021
2023: €143k▲ +368% vs 2022
2024: €184k▲ +28.8% vs 2023highest in 5 years
2025: €-122k▼ -166% vs 2024lowest in 5 years
Net result€74k-€27k▼ 63.1%€119k▲ 334%€127k▲ 7.3%€-136k
2021: €74k
2022: €27k▼ -63.1% vs 2021
2023: €119k▲ +334% vs 2022
2024: €127k▲ +7.3% vs 2023highest in 5 years
2025: €-136k▼ -207% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €122k after €184k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €756k
Fixed assets
€281k ▲ 6.3%
Current assets
€475k ▼ 23.0%
Equity and liabilities €756k
Equity
€154k ▼ 46.9%
Debt
€602k ▲ 1.9%
Debt's share of the balance-sheet total rises from 67.0% to 79.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-20k▼
2024 · €261k
Cash flow
€-35k▼
2024 · €205k
Current ratio
1.30▼
2024 · 1.91
Quick ratio
0.57▼
2024 · 0.78
Debt to equity
3.90▲
2024 · 2.03
ROE
-88.4%▼
2024 · 43.8%
ROA
-18.1%▼
2024 · 14.5%
Interest coverage
-1.17▼
2024 · 11.89
Debt ≤ 1 year
€367k▲
2024 · €322k
Debt > 1 year
€217k▼
2024 · €257k
Income taxes
€528▼
2024 · €42k
Staff costs
€227k▲
2024 · €75k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€881k€756k▼
Fixed assets21/28€264k€281k▲
Tangible fixed assets22/27€264k€281k▲
Plant, machinery and equipment23€150k€198k▲
Furniture and vehicles24€62k€47k▼
Leasing and similar rights25€51k€35k▼
Current assets29/58€617k€475k▼
Stocks and contracts in progress3€365k€265k▼
Stocks30/36€218k€225k▲
Contracts in progress37€147k€40k▼
Amounts receivable within one year40/41€187k€144k▼
Trade receivables40€167k€106k▼
Other amounts receivable41€20k€38k▲
Cash at bank and in hand54/58€58k€60k▲
Deferred charges and accrued income490/1€7k€7k▲
Equity and liabilities
Total equity and liabilities10/49€881k€756k▼
Equity10/15€291k€154k▼
Contributions10/11€79k€79k=
Reserves13€200k€75k▼
Distributable reserves133€200k€75k▼
Profit (loss) carried forward14€12k€284▼
Amounts payable17/49€591k€602k▲
Amounts payable after more than one year17€257k€217k▼
Financial debts170/4€167k€127k▼
Other amounts payable178/9€90k€90k=
Amounts payable within one year42/48€322k€367k▲
Current portion of amounts payable after more than one year42€49k€41k▼
Financial debts43€125k€125k=
Credit institutions430/8€125k€125k=
Trade debts44€106k€167k▲
Suppliers440/4€106k€167k▲
Advances received on contracts in progress46€919€5k▲
Taxes, remuneration and social security45€41k€28k▼
Taxes450/3€24k€2k▼
Remuneration and social security454/9€18k€26k▲
Accrued charges and deferred income492/3€12k€17k▲
Income statement
Code20242025
Remuneration, social security and pensions62€75k€227k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€78k€101k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€338k€208k▼
Operating profit (loss)9901€184k€-122k▼
Financial income75/76B€8k€3k▼
Recurring financial income75€8k€3k▼
Financial charges65/66B€22k€17k▼
Recurring financial charges65€22k€17k▼
Profit (loss) for the period before taxes9903€170k€-136k▼
Income taxes67/77€42k€528▼
Profit (loss) for the period9904€127k€-136k▼
Profit (loss) for the period to be appropriated9905€127k€-136k▼
Appropriation of the result
Profit (loss) to be appropriated9906€212k€-125k▼
Profit (loss) brought forward from the previous period14P€84k€12k▼
Transfer from equity791/2-€125k
Transfer to equity691/2€200k-
To other reserves6921€200k-
Social balance
Average headcount (FTE)90871.42.5▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €25k | €75k | €227k | ▲ 202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €33k | €53k | €78k | €101k | ▲ 30.7% |
| Other operating charges640/8 | - | €1k | €2k | €2k | €1k | ▼ 16.1% |
| Non-recurring operating charges66A | - | - | €3k | - | - | - |
| Gross operating margin9900 | €109k | €64k | €225k | €338k | €208k | ▼ 38.5% |
| Operating profit (loss)9901 | €79k | €31k | €143k | €184k | €-122k | ▼ 166% |
| Financial income75/76B | - | €5k | €4k | €8k | €3k | ▼ 60.8% |
| Recurring financial income75 | €3k | €5k | €4k | €8k | €3k | ▼ 60.8% |
| Financial charges65/66B | - | €7k | €13k | €22k | €17k | ▼ 21.1% |
| Recurring financial charges65 | €6k | €7k | €13k | €22k | €17k | ▼ 21.1% |
| Profit (loss) for the period before taxes9903 | €75k | €29k | €134k | €170k | €-136k | ▼ 180% |
| Income taxes67/77 | €1k | €1k | €15k | €42k | €528 | ▼ 98.8% |
| Profit (loss) for the period9904 | €74k | €27k | €119k | €127k | €-136k | ▼ 207% |
| Profit (loss) for the period to be appropriated9905 | €74k | €27k | €119k | €127k | €-136k | ▼ 207% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €425k | €471k | €772k | €881k | €756k | ▼ 14.2% |
| Fixed assets21/28 | €128k | €113k | €201k | €264k | €281k | ▲ 6.3% |
| Tangible fixed assets22/27 | €128k | €113k | €201k | €264k | €281k | ▲ 6.3% |
| Plant, machinery and equipment23 | - | €81k | €99k | €150k | €198k | ▲ 31.8% |
| Furniture and vehicles24 | - | €32k | €34k | €62k | €47k | ▼ 24.0% |
| Leasing and similar rights25 | - | - | €67k | €51k | €35k | ▼ 31.6% |
| Current assets29/58 | €297k | €358k | €571k | €617k | €475k | ▼ 23.0% |
| Stocks and contracts in progress3 | €77k | €145k | €353k | €365k | €265k | ▼ 27.5% |
| Stocks30/36 | - | €109k | €267k | €218k | €225k | ▲ 3.0% |
| Contracts in progress37 | - | €36k | €86k | €147k | €40k | ▼ 72.8% |
| Amounts receivable within one year40/41 | €118k | €151k | €158k | €187k | €144k | ▼ 23.3% |
| Trade receivables40 | - | €132k | €114k | €167k | €106k | ▼ 36.7% |
| Other amounts receivable41 | - | €19k | €45k | €20k | €38k | ▲ 90.2% |
| Cash at bank and in hand54/58 | €29k | €61k | €58k | €58k | €60k | ▲ 3.4% |
| Deferred charges and accrued income490/1 | - | €1k | €2k | €7k | €7k | ▲ 0.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €425k | €471k | €772k | €881k | €756k | ▼ 14.2% |
| Equity10/15 | €10k | €14k | €84k | €291k | €154k | ▼ 46.9% |
| Contributions10/11 | - | €120 | €120 | €79k | €79k | = |
| Reserves13 | - | - | - | €200k | €75k | ▼ 62.5% |
| Distributable reserves133 | - | - | - | €200k | €75k | ▼ 62.5% |
| Profit (loss) carried forward14 | €10k | €14k | €84k | €12k | €284 | ▼ 97.6% |
| Amounts payable17/49 | €415k | €457k | €687k | €591k | €602k | ▲ 1.9% |
| Amounts payable after more than one year17 | €110k | €94k | €157k | €257k | €217k | ▼ 15.3% |
| Financial debts170/4 | - | €39k | €103k | €167k | €127k | ▼ 23.5% |
| Other amounts payable178/9 | - | €54k | €54k | €90k | €90k | = |
| Amounts payable within one year42/48 | €301k | €359k | €521k | €322k | €367k | ▲ 13.8% |
| Current portion of amounts payable after more than one year42 | - | €16k | €37k | €49k | €41k | ▼ 15.4% |
| Financial debts43 | - | €75k | €125k | €125k | €125k | = |
| Credit institutions430/8 | - | €75k | €125k | €125k | €125k | = |
| Trade debts44 | €104k | €117k | €134k | €106k | €167k | ▲ 57.5% |
| Suppliers440/4 | - | €117k | €134k | €106k | €167k | ▲ 57.5% |
| Advances received on contracts in progress46 | - | €60k | €49k | €919 | €5k | ▲ 452% |
| Taxes, remuneration and social security45 | - | - | €18k | €41k | €28k | ▼ 32.0% |
| Taxes450/3 | - | - | €13k | €24k | €2k | ▼ 92.3% |
| Remuneration and social security454/9 | - | - | €5k | €18k | €26k | ▲ 48.1% |
| Other amounts payable47/48 | - | €91k | €159k | - | - | - |
| Accrued charges and deferred income492/3 | - | €5k | €9k | €12k | €17k | ▲ 50.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74k | €27k | €119k | €127k | €-136k | ▼ 207% |
| + Depreciation and write-downs630 | €30k | €33k | €53k | €78k | €101k | ▲ 30.7% |
| Operating cash flow (approximation) | €104k | €60k | €171k | €205k | €-35k | ▼ 117% |
| Investment in fixed assets (approximation) | - | €-17k | €-140k | €-141k | €-118k | ▲ 16.3% |
| Change in cash | - | €32k | €-3k | €339 | €2k | ▲ 481% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €-136k
Net result drops to €-136k, the lowest in the series.
2024
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-06
Financial
Highest result since 2021net €127k ▲7.3%
Operating result €184k, net result €127k, both a record.
30-06
Financial
Equity above €200kEq €291k ▲244%
4 profitable years in a row build equity to €291k.
12-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Tielt · 1 establishment unit since 2020
Ground area
9,457 m²
Building footprint
202 m²
Parcel 37322C0680/00C000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
BELMATIC
since 20202.303.090.992
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322C0680/00C000 | Flanders | 9,456 m² | 1 · 202 m² | 0.1 m |
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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 5,395 EUR awarded · 5,395 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 5,035 EUR | 5,035 EUR |
| 2024 | 1 | 288 EUR | 288 EUR |
| 2023 | 1 | 72 EUR | 72 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 8,575 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-05-2020
Fiscal year end30-06
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
Scores and ratios are computed by Checked and are not a credit decision.