BELREX
ActiveSummary
The computed 12-month bankruptcy probability of BELREX is 1.5% (moderate). The 2025 annual accounts show equity of €59k and a net result of €32k. Equity is growing by ~72.3% per year across the filed fiscal years. Its solvency ranks better than 53% of 18400 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
Profitability76▼-24
Solvency63▼-18
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 2.02 in 2024; short-term debt: 46.7% and cash: 24.2% of total assets), but 62.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
37.8%
Return on assets
20.2%
Age of the figures
9 mo
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 15-07-2026, 16 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
16 d early
2024
1 d early
2023
26 d late
2022
26 d late
2021
23 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€950k
EBIT margin
3.9%
Net result
€32k▲ 59.8%
2024 · €20k
2021: €2klowest in 5 years
2022: €9k▲ +267% vs 2021
2023: €8k▼ -6.6% vs 2022
2024: €20k▲ +149% vs 2023
2025: €32k▲ +59.8% vs 2024highest in 5 years
2021 → 2025
Working capital
€47k▲ 36.1%
2024 · €35k
2021: €-11klowest in 5 years
2022: €-1k▲ +87.5% vs 2021
2023: €12k▲ +1028% vs 2022
2024: €35k▲ +179% vs 2023
2025: €47k▲ +36.1% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€950k
Equity€6k-€15k▲ 135%€23k▲ 53.7%€43k▲ 87.0%€59k▲ 39.2%
2021: €6klowest in 5 years
2022: €15k▲ +135% vs 2021
2023: €23k▲ +53.7% vs 2022
2024: €43k▲ +87.0% vs 2023
2025: €59k▲ +39.2% vs 2024highest in 5 years
Operating result€4k-€12k▲ 175%€11k▼ 8.9%€25k▲ 126%€38k▲ 47.5%
2021: €4klowest in 5 years
2022: €12k▲ +175% vs 2021
2023: €11k▼ -8.9% vs 2022
2024: €25k▲ +126% vs 2023
2025: €38k▲ +47.5% vs 2024highest in 5 years
Net result€2k-€9k▲ 267%€8k▼ 6.6%€20k▲ 149%€32k▲ 59.8%
2021: €2klowest in 5 years
2022: €9k▲ +267% vs 2021
2023: €8k▼ -6.6% vs 2022
2024: €20k▲ +149% vs 2023
2025: €32k▲ +59.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro 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 48% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €157k
Fixed assets
€37k ▲ 348%
Current assets
€120k ▲ 76.1%
Equity and liabilities €157k
Equity
€59k ▲ 39.2%
Debt
€98k ▲ 189%
Debt's share of the balance-sheet total rises from 44.2% to 62.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45k▲
2024 · €29k
Cash flow
€39k▲
2024 · €23k
Current ratio
1.64▼
2024 · 2.02
Quick ratio
0.85▲
2024 · 0.69
Debt to equity
1.64▲
2024 · 0.79
ROE
53.4%▲
2024 · 46.5%
ROA
20.2%▼
2024 · 26.0%
Interest coverage
48.65▼
2024 · 78.49
Debt ≤ 1 year
€73k▲
2024 · €34k
Debt > 1 year
€24k
Income taxes
€5k▼
2024 · €5k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€77k€157k▲
Fixed assets21/28€8k€37k▲
Tangible fixed assets22/27€8k€37k▲
Plant, machinery and equipment23€930€620▼
Furniture and vehicles24€493€32k▲
Other tangible fixed assets26€7k€4k▼
Financial fixed assets28€100€100=
Current assets29/58€68k€120k▲
Stocks and contracts in progress3€45k€58k▲
Stocks30/36€45k€58k▲
Amounts receivable within one year40/41€19k€24k▲
Trade receivables40€14k€18k▲
Other amounts receivable41€5k€6k▲
Cash at bank and in hand54/58€5k€38k▲
Equity and liabilities
Total equity and liabilities10/49€77k€157k▲
Equity10/15€43k€59k▲
Contributions10/11€4k€4k=
Profit (loss) carried forward14€39k€55k▲
Amounts payable17/49€34k€98k▲
Amounts payable after more than one year17-€24k
Financial debts170/4-€24k
Amounts payable within one year42/48€34k€73k▲
Current portion of amounts payable after more than one year42-€7k
Trade debts44€13k€40k▲
Suppliers440/4€13k€40k▲
Taxes, remuneration and social security45€20k€12k▼
Taxes450/3€9k€11k▲
Remuneration and social security454/9€11k€402▼
Other amounts payable47/48€1k€15k▲
Income statement
Code20242025
Turnover70-€950k
Goods, raw materials, services and sundry goods60/61-€912k
Remuneration, social security and pensions62€2k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€7k▲
Other operating charges640/8€4k€5k▲
Gross operating margin9900€35k€50k▲
Operating profit (loss)9901€25k€38k▲
Financial income75/76B€74-
Recurring financial income75€74-
Non-recurring financial income76B€74-
Financial charges65/66B€369€919▲
Recurring financial charges65€369€919▲
Non-recurring financial charges66B€369-
Profit (loss) for the period before taxes9903€25k€37k▲
Income taxes67/77€5k€5k▼
Profit (loss) for the period9904€20k€32k▲
Profit (loss) for the period to be appropriated9905€20k€32k▲
Appropriation of the result
Profit (loss) to be appropriated9906€39k€70k▲
Profit (loss) brought forward from the previous period14P€19k€39k▲
Profit to be distributed694/7-€15k
Directors or managers695-€15k
The notes to these accounts (9 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €950k | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €912k | - |
| Remuneration, social security and pensions62 | €13k | €15k | €19k | €2k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €12k | €8k | €4k | €7k | ▲ 105% |
| Other operating charges640/8 | €10k | €6k | €2k | €4k | €5k | ▲ 32.1% |
| Non-recurring operating charges66A | - | - | €6k | - | - | - |
| Gross operating margin9900 | €32k | €44k | €46k | €35k | €50k | ▲ 45.0% |
| Operating profit (loss)9901 | €4k | €12k | €11k | €25k | €38k | ▲ 47.5% |
| Financial income75/76B | €12 | - | - | €74 | - | - |
| Recurring financial income75 | €12 | - | - | €74 | - | - |
| Non-recurring financial income76B | €12 | - | - | €74 | - | - |
| Financial charges65/66B | €1k | €903 | €891 | €369 | €919 | ▲ 149% |
| Recurring financial charges65 | €1k | €903 | €891 | €369 | €919 | ▲ 149% |
| Non-recurring financial charges66B | €1k | €903 | €891 | €369 | - | - |
| Profit (loss) for the period before taxes9903 | €3k | €11k | €10k | €25k | €37k | ▲ 45.6% |
| Income taxes67/77 | €1k | €3k | €2k | €5k | €5k | ▼ 7.8% |
| Profit (loss) for the period9904 | €2k | €9k | €8k | €20k | €32k | ▲ 59.8% |
| Profit (loss) for the period to be appropriated9905 | €2k | €9k | €8k | €20k | €32k | ▲ 59.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65k | €90k | €214k | €77k | €157k | ▲ 105% |
| Fixed assets21/28 | €17k | €16k | €10k | €8k | €37k | ▲ 348% |
| Intangible fixed assets21 | €10k | €8k | - | - | - | - |
| Tangible fixed assets22/27 | €7k | €8k | €10k | €8k | €37k | ▲ 353% |
| Plant, machinery and equipment23 | €2k | €1k | - | €930 | €620 | ▼ 33.3% |
| Furniture and vehicles24 | €5k | €6k | €1k | €493 | €32k | ▲ 6,294% |
| Other tangible fixed assets26 | - | - | €9k | €7k | €4k | ▼ 33.3% |
| Financial fixed assets28 | - | - | €100 | €100 | €100 | = |
| Current assets29/58 | €48k | €73k | €203k | €68k | €120k | ▲ 76.1% |
| Stocks and contracts in progress3 | €30k | €48k | €42k | €45k | €58k | ▲ 28.8% |
| Stocks30/36 | €30k | €48k | €42k | €45k | €58k | ▲ 28.8% |
| Amounts receivable within one year40/41 | €2k | €14k | €156k | €19k | €24k | ▲ 31.1% |
| Trade receivables40 | €504 | €12k | €153k | €14k | €18k | ▲ 33.0% |
| Other amounts receivable41 | €1k | €2k | €3k | €5k | €6k | ▲ 25.5% |
| Cash at bank and in hand54/58 | €16k | €11k | €4k | €5k | €38k | ▲ 702% |
| Deferred charges and accrued income490/1 | - | €210 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65k | €90k | €214k | €77k | €157k | ▲ 105% |
| Equity10/15 | €6k | €15k | €23k | €43k | €59k | ▲ 39.2% |
| Contributions10/11 | €4k | €4k | €4k | €4k | €4k | = |
| Profit (loss) carried forward14 | €2k | €11k | €19k | €39k | €55k | ▲ 43.3% |
| Amounts payable17/49 | €59k | €75k | €191k | €34k | €98k | ▲ 189% |
| Amounts payable after more than one year17 | - | - | - | - | €24k | - |
| Financial debts170/4 | - | - | - | - | €24k | - |
| Amounts payable within one year42/48 | €59k | €75k | €191k | €34k | €73k | ▲ 117% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7k | - |
| Trade debts44 | €43k | €60k | €73k | €13k | €40k | ▲ 219% |
| Suppliers440/4 | €43k | €60k | €73k | €13k | €40k | ▲ 219% |
| Advances received on contracts in progress46 | - | - | €97k | - | - | - |
| Taxes, remuneration and social security45 | €12k | €10k | €12k | €20k | €12k | ▼ 40.9% |
| Taxes450/3 | €1k | €5k | €5k | €9k | €11k | ▲ 27.9% |
| Remuneration and social security454/9 | €11k | €5k | €6k | €11k | €402 | ▼ 96.4% |
| Other amounts payable47/48 | €4k | €5k | €9k | €1k | €15k | ▲ 1,125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €9k | €8k | €20k | €32k | ▲ 59.8% |
| + Depreciation and write-downs630 | €3k | €12k | €8k | €4k | €7k | ▲ 105% |
| Operating cash flow (approximation) | €6k | €20k | €16k | €23k | €39k | ▲ 66.5% |
| Investment in fixed assets (approximation) | - | €-11k | €-3k | €-1k | €-36k | ▼ 2,780% |
| Change in cash | - | €-5k | €-6k | €308 | €33k | ▲ 10,686% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €32k ▲59.8%
Operating result €38k, net result €32k, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
26-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
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, Ronse · 1 establishment unit since 2020
Ground area
172 m²
Building footprint
235 m²
Volume, LiDAR
1,714 m³
Parcel 45423E0856/00B000, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NIGHT-SHOP
since 20202.303.922.422
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45423E0856/00B000 | Flanders | 172 m² | 1 · 235 m² | 11.0 m · 3 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 siteRonse/Renaix2.303.922.422
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,848. 4,653 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
Founded18-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47260Retail trade
Scores and ratios are computed by Checked and are not a credit decision.