BELO HOLDING

Active

Private limited companyfounded 20215 yrs activeRue de Faux 5, 1490 Court-Saint-Etienne, BelgiumKBO/BCE: BE 0768.429.644

BELO HOLDING has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €65k and a net result of €5k. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 16% of 37968 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).

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Checked score

Score 2024

59 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability56▲+9

Solvency38=

Growth52=

Track record94

Bankruptcy probability, 12 months

0.7% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €3.5k at 30 days acceptable

Liquidity ample (current ratio 3.36 against 1.07 in 2023; short-term debt: 9.5% and cash: 5% of total assets), but 87.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2024

Solvency, return and age of the figures

Solvency

12.9%

Return on assets

Age of the figures

21 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 37968 sector peers (2024).

NBB · sector comparison

Position among 37968 sector peers

Solvency

better than 16%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-05-2025, 71 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

not confirmed

2024

71 d early

2023

28 d early

2022

33 d early

2021

34 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

€466k

EBIT margin

1.7%

Net result

€5k

2023 · €-4k

2021: €15k 2022: €24k 2023: €-4k

2021 → 2024

Working capital

€113k▲ 1,669%

2023 · €6k

2021: €-214k 2022: €12k 2023: €6k

2021 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2021202220232024Trend

Turnover€466k

Equity€40k-€64k▲ 60.6%€60k▼ 6.2%€65k▲ 8.1%

Operating result€18k-€35k▲ 99.0%€8k▼ 77.9%€23k▲ 191%

Net result€15k-€24k▲ 62.9%€-4k€5k

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 191% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €501k

68.0%

32.0%

Fixed assets €341k▼ 2.3%

Current assets €160k▲ 65.7%

Equity and liabilities €503k

12.9%

87.1%

Equity €65k▲ 8.1%

Debt €438k▲ 12.9%

The debt ratio rises from 86.6% to 87.1%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€56k▲

2023 · €33k

Cash flow

€39k▲

2023 · €21k

Solvency

12.9%▼

2023 · 13.4%

Current ratio

3.36▲

2023 · 1.07

Quick ratio

3.22▲

2023 · 1.00

Debt / equity

6.75▲

2023 · 6.46

ROE

7.5%▲

2023 · -6.6%

ROA

1.0%▲

2023 · -0.9%

Interest coverage

4.27▲

2023 · 3.40

Debt

€438k▲

2023 · €388k

Debt ≤ 1 year

€48k▼

2023 · €90k

Debt > 1 year

€390k▲

2023 · €297k

Income taxes

€5k▲

2023 · €2k

Staff costs

€186k▲

2023 · €110k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€448k€503k▲

Formation expenses20€2k€1k▼

Fixed assets21/28€349k€341k▼

Intangible fixed assets21€59k€52k▼

Tangible fixed assets22/27€95k€95k▼

Plant, machinery and equipment23€50k€41k▼

Furniture and vehicles24€37k€31k▼

Other tangible fixed assets26€9k€23k▲

Financial fixed assets28€195k€195k=

Current assets29/58€97k€160k▲

Stocks and contracts in progress3€6k€7k▲

Stocks30/36€6k€7k▲

Amounts receivable within one year40/41€38k€93k▲

Trade receivables40€7k€391▼

Other amounts receivable41€31k€92k▲

Cash at bank and in hand54/58€21k€25k▲

Deferred charges and accrued income490/1€31k€36k▲

Equity and liabilities

Total equity and liabilities10/49€448k€503k▲

Equity10/15€60k€65k▲

Contributions10/11€25k€25k=

Reserves13€39k€40k▲

Distributable reserves133€39k€40k▲

Profit (loss) carried forward14€-4k€0▲

Amounts payable17/49€388k€438k▲

Amounts payable after more than one year17€297k€390k▲

Financial debts170/4€21k€14k▼

Other amounts payable178/9€276k€376k▲

Amounts payable within one year42/48€90k€48k▼

Current portion of amounts payable after more than one year42€7k€7k▲

Trade debts44€6k€9k▲

Suppliers440/4€6k€9k▲

Taxes, remuneration and social security45€32k€26k▼

Taxes450/3€5k€7k▲

Remuneration and social security454/9€28k€20k▼

Other amounts payable47/48€45k€5k▼

Accrued charges and deferred income492/3€275€301▲

Income statement Code20232024

Turnover70€466k-

Non-recurring operating income76A€0-

Goods, raw materials, services and sundry goods60/61€343k-

Remuneration, social security and pensions62€110k€186k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€34k▲

Other operating charges640/8€7k€4k▼

Gross operating margin9900€150k€246k▲

Operating profit (loss)9901€8k€23k▲

Financial income75/76B€38€85▲

Recurring financial income75€38€85▲

Financial charges65/66B€10k€13k▲

Recurring financial charges65€10k€13k▲

Profit (loss) for the period before taxes9903€-2k€9k▲

Income taxes67/77€2k€5k▲

Profit (loss) for the period9904€-4k€5k▲

Profit (loss) for the period to be appropriated9905€-4k€5k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-4k€925▲

Profit (loss) brought forward from the previous period14P-€-4k

Transfer to equity691/2€0€925▲

To other reserves6921€0€925▲

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 9Financial 5Filings 4

2025

21-05

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Back to profitnet €5k

Net result €5k after one loss-making year.

31-12

Financial Liquidity triplescurrent ratio 3.36

Current ratio from 1.07 to 3.36; short-term debt falls from €90k to €48k.

03-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €-4k ▼116%

Net result drops to €-4k, the lowest in the series; recovery starts the following year.

28-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Highest result since 2021net €24k ▲62.9%

Operating result €35k, net result €24k, both a record.

31-12

Financial Liquidity times 34current ratio 1.43

Current ratio from 0.04 to 1.43; short-term debt falls from €223k to €27k.

27-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Court-Saint-Etienne · 2 establishment units since 2021

establishment All 2 establishment units on the map

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.

Rue de Faux 51490 Court-Saint-Etienne

Ground area

800 m²

Building footprint

279 m²

Volume, LiDAR

2,513 m³

3 parcels, Wallonia · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.

2 establishment units

BELO HOLDING

Place de Sart 11, 1490 Court-Saint-EtienneFood and beverage service activities

since 20212.318.521.120

Rue Major Mascaux(JB) 5, 5100 Namur

Personal service activities

since 20222.336.295.874

3 parcels

Wallonia 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
92322F0809/00B000	Wallonia	364 m²	1 · 176 m²	11.4 m · 3 fl.
25023F0003/00S000	Wallonia	279 m²	1 · 103 m²	8.3 m · 2 fl.
25023F0003/00M000	Wallonia	158 m²	-	-