BELMO
ActiveSummary
BELMO has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €263,352 and a net result of €14,434. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 88% of 18940 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74=
Solvency100▲+12
Growth52=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 1.55 against 1.9 in 2023; short-term debt: 21.3% and cash: 27.6% of total assets), and 24.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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
28 d late
2023
27 d late
2022
31 d late
2021
116 d late
2020
152 d late
2019
122 d late
← 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 79 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€263,352▲ 1.7%
2023 · €258,918
Total assets
€348,465▼ 14.6%
2023 · €408,162
Net result
€14,434▼ 18.4%
2023 · €17,698
Working capital
€41,164▼ 45.8%
2023 · €75,976
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage 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€33,399▼ 33.6%€60,976▲ 82.6%€60,772▼ 0.3%€36,269▼ 40.3%€20,757▼ 42.8%
Net result€23,362above the sector's middle half▼ 40.8%€44,917above the sector's middle half▲ 92.3%€51,185above the sector's middle half▲ 14.0%€17,698within the sector's middle half▼ 65.4%€14,434within the sector's middle half▼ 18.4%
Equity€225,118above the sector's middle half▲ 1.5%€240,035above the sector's middle half▲ 6.6%€261,220above the sector's middle half▲ 8.8%€258,918above the sector's middle half▼ 0.9%€263,352above the sector's middle half▲ 1.7%
Total assets€402,020above the sector's middle half▼ 12.4%€410,194above the sector's middle half▲ 2.0%€421,247above the sector's middle half▲ 2.7%€408,162above the sector's middle half▼ 3.1%€348,465above the sector's middle half▼ 14.6%
Debt€159,742▼ 26.7%€155,109▼ 2.9%€144,977▼ 6.5%€136,304▼ 6.0%€74,282▼ 45.5%
Working capital€89,619above the sector's middle half▼ 20.0%€97,341above the sector's middle half▲ 8.6%€82,949above the sector's middle half▼ 14.8%€75,976above the sector's middle half▼ 8.4%€41,164within the sector's middle half▼ 45.8%
Solvency56.0%within the sector's middle half▲ 7.7pp58.5%within the sector's middle half▲ 2.5pp62.0%above the sector's middle half▲ 3.5pp63.4%above the sector's middle half▲ 1.4pp75.6%above the sector's middle half▲ 12.1pp
Current ratio2.50above the sector's middle half▲ 0.102.31within the sector's middle half▼ 0.181.98within the sector's middle half▼ 0.341.90within the sector's middle half▼ 0.081.55within the sector's middle half▼ 0.35
Return on assets (ROA)5.8%within the sector's middle half▼ 2.8pp11.0%within the sector's middle half▲ 5.1pp12.2%within the sector's middle half▲ 1.2pp4.3%within the sector's middle half▼ 7.8pp4.1%within the sector's middle half▼ 0.2pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage 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 has fallen three years in a row; 2024 is 43% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €348,465
Fixed assets
€233,018 ▼ 6.0%
Current assets
€115,447 ▼ 28.0%
Equity and liabilities €348,465
Equity
€263,352 ▲ 1.7%
Provisions
€10,831 ▼ 16.3%
Debt
€74,282 ▼ 45.5%
Debt's share of the balance-sheet total falls from 33.4% to 21.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37,486▼
2023 · €53,738
Cash flow
€31,163▼
2023 · €35,168
Debt to equity
0.28▼
2023 · 0.53
ROE
5.5%▼
2023 · 6.8%
Interest coverage
8.51▼
2023 · 9.40
Debt ≤ 1 year
€74,282▼
2023 · €84,267
Income taxes
€4,026▼
2023 · €14,962
Staff costs
€19,911▼
2023 · €21,298
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,027 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 | - | €1,617 | €1,801 | €1,847 | €1,892 | ▲ 2.5% |
| Remuneration, social security and pensions62 | - | €43,606 | €18,867 | €21,298 | €19,911 | ▼ 6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,739 | €13,739 | €14,207 | €17,469 | €16,729 | ▼ 4.2% |
| Other operating charges640/8 | - | €3,000 | - | - | - | - |
| Gross operating margin9900 | €85,043 | €121,321 | €93,847 | €75,036 | €57,397 | ▼ 23.5% |
| Operating profit (loss)9901 | €33,399 | €60,976 | €60,772 | €36,269 | €20,757 | ▼ 42.8% |
| Financial charges65/66B | - | €9,293 | €6,950 | €5,718 | €4,407 | ▼ 22.9% |
| Recurring financial charges65 | €9,618 | €9,293 | €6,950 | €5,718 | €4,407 | ▼ 22.9% |
| Profit (loss) for the period before taxes9903 | €23,781 | €51,683 | €53,822 | €30,551 | €16,349 | ▼ 46.5% |
| Transfer from deferred taxes780 | - | €2,110 | - | €2,110 | €2,110 | = |
| Income taxes67/77 | €2,529 | €8,876 | €2,637 | €14,962 | €4,026 | ▼ 73.1% |
| Profit (loss) for the period9904 | €23,362 | €44,917 | €51,185 | €17,698 | €14,434 | ▼ 18.4% |
| Transfer from tax-exempt reserves789 | - | €4,097 | - | €4,097 | €4,097 | = |
| Profit (loss) for the period to be appropriated9905 | €27,460 | €49,014 | €51,185 | €21,796 | €18,531 | ▼ 15.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €402,020 | €410,194 | €421,247 | €408,162 | €348,465 | ▼ 14.6% |
| Fixed assets21/28 | €252,542 | €238,803 | €253,389 | €247,919 | €233,018 | ▼ 6.0% |
| Tangible fixed assets22/27 | €252,542 | €238,803 | €253,389 | €247,919 | €233,018 | ▼ 6.0% |
| Land and buildings22 | - | €222,087 | €212,358 | €202,628 | €192,899 | ▼ 4.8% |
| Plant, machinery and equipment23 | - | €16,716 | €41,031 | €45,291 | €40,119 | ▼ 11.4% |
| Current assets29/58 | €149,479 | €171,391 | €167,858 | €160,243 | €115,447 | ▼ 28.0% |
| Amounts receivable within one year40/41 | €493 | €965 | €2,610 | €16,032 | €19,417 | ▲ 21.1% |
| Other amounts receivable41 | - | €965 | €2,610 | €16,032 | €19,417 | ▲ 21.1% |
| Cash at bank and in hand54/58 | €123,906 | €170,426 | €165,249 | €144,211 | €96,029 | ▼ 33.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €402,020 | €410,194 | €421,247 | €408,162 | €348,465 | ▼ 14.6% |
| Equity10/15 | €225,118 | €240,035 | €261,220 | €258,918 | €263,352 | ▲ 1.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €218,918 | €233,835 | €255,020 | €252,718 | €257,152 | ▲ 1.8% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €29,228 | €29,228 | €25,131 | €21,033 | ▼ 16.3% |
| Distributable reserves133 | - | €202,747 | €223,932 | €225,727 | €234,258 | ▲ 3.8% |
| Provisions and deferred taxes16 | €17,160 | €15,050 | €15,050 | €12,940 | €10,831 | ▼ 16.3% |
| Deferred taxes168 | - | €15,050 | €15,050 | €12,940 | €10,831 | ▼ 16.3% |
| Amounts payable17/49 | €159,742 | €155,109 | €144,977 | €136,304 | €74,282 | ▼ 45.5% |
| Amounts payable after more than one year17 | €55,045 | €29,021 | €8,030 | - | - | - |
| Financial debts170/4 | - | €29,021 | €8,030 | - | - | - |
| Amounts payable within one year42/48 | €59,860 | €74,050 | €84,909 | €84,267 | €74,282 | ▼ 11.8% |
| Trade debts44 | €2,031 | €5,245 | €7,199 | €4,054 | €6,302 | ▲ 55.5% |
| Suppliers440/4 | - | €5,245 | €7,199 | €4,054 | €6,302 | ▲ 55.5% |
| Taxes, remuneration and social security45 | - | €933 | €939 | €1,482 | - | - |
| Remuneration and social security454/9 | - | €933 | €939 | €1,482 | - | - |
| Other amounts payable47/48 | - | €67,873 | €76,771 | €78,731 | €67,980 | ▼ 13.7% |
| Accrued charges and deferred income492/3 | - | €52,037 | €52,037 | €52,037 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,362 | €44,917 | €51,185 | €17,698 | €14,434 | ▼ 18.4% |
| + Depreciation and write-downs630 | €13,739 | €13,739 | €14,207 | €17,469 | €16,729 | ▼ 4.2% |
| Operating cash flow (approximation) | €37,101 | €58,656 | €65,392 | €35,168 | €31,163 | ▼ 11.4% |
| Investment in fixed assets (approximation) | - | €0 | -€28,793 | -€12,000 | -€1,828 | ▲ 84.8% |
| Change in cash | - | €46,520 | -€5,177 | -€21,037 | -€48,182 | ▼ 129% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €14,434 ▼18.4%
Net result drops to €14,434, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €51,185 ▲14%
Net result €51,185, the highest in the series.
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 116 days late
2021
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 152 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
2016
24-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Dendermonde · 1 establishment unit since 2004
Ground area
441 m²
Building footprint
252 m²
Volume, LiDAR
1,421 m³
Parcel 42006E0108/00A003, Flanders · tallest building 10.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Pizza Italia
since 20042.135.643.159
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42006E0108/00A003 | Flanders | 441 m² | 1 · 252 m² | 10.5 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteDendermonde2.135.643.159
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,782. 6,061 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 (pre-2019)
Founded11-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0863351666
Also
9925:BE0863351666
Registered
29-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.