BELRUN
ActiveSummary
BELRUN has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€27,602) and a net result of €24,068. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 10,789 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 0% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €114,440 | - | - | - | - |
| Gross operating margin9900 | -€1,146 | -€1,156 | -€864 | -€1,064 | €12,913 | €21,852 | €23,126 | €23,203 | ▲ 0.3% |
| Operating profit (loss)9901 | -€1,494 | -€1,503 | -€1,212 | -€1,412 | -€101,874 | €21,468 | €22,738 | €22,803 | ▲ 0.3% |
| Financial income75/76B | - | - | - | - | - | €2,868 | €1,349 | €1,444 | ▲ 7.1% |
| Recurring financial income75 | - | - | €8 | - | - | €2,868 | €1,349 | €1,444 | ▲ 7.1% |
| Financial charges65/66B | - | - | - | €187 | €187 | €204 | €225 | €179 | ▼ 20.2% |
| Recurring financial charges65 | €121 | €125 | €201 | €187 | €187 | €204 | €225 | €179 | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | -€1,615 | -€1,628 | -€1,404 | -€1,598 | -€102,061 | €24,132 | €23,862 | €24,068 | ▲ 0.9% |
| Profit (loss) for the period9904 | -€1,615 | -€1,628 | -€1,404 | -€1,598 | -€102,061 | €24,132 | €23,862 | €24,068 | ▲ 0.9% |
| Profit (loss) for the period to be appropriated9905 | -€1,615 | -€1,628 | -€1,404 | -€1,598 | -€102,061 | €24,132 | €23,862 | €24,068 | ▲ 0.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €412,051 | €358,073 | €301,950 | €245,211 | €181,540 | €147,871 | €114,317 | €90,447 | ▼ 20.9% |
| Fixed assets21/28 | €411,947 | €358,039 | €301,827 | €245,113 | €181,403 | €144,613 | €109,938 | €88,797 | ▼ 19.2% |
| Tangible fixed assets22/27 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €411,947 | €358,039 | €301,827 | €245,113 | €181,403 | €144,613 | €109,938 | €88,797 | ▼ 19.2% |
| Current assets29/58 | €104 | €34 | €124 | €98 | €137 | €3,259 | €4,379 | €1,650 | ▼ 62.3% |
| Cash at bank and in hand54/58 | €104 | €34 | €124 | €98 | €137 | €391 | €163 | €206 | ▲ 26.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €2,868 | €4,216 | €1,444 | ▼ 65.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €412,051 | €358,073 | €301,950 | €245,211 | €181,540 | €147,871 | €114,317 | €90,447 | ▼ 20.9% |
| Equity10/15 | €7,027 | €5,399 | €3,995 | €2,397 | -€99,664 | -€75,532 | -€51,670 | -€27,602 | ▲ 46.6% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €38,829 | €38,829 | €38,829 | €38,829 | €38,829 | €38,829 | €38,829 | €38,829 | = |
| Non-distributable reserves130/1 | - | - | - | €418 | €418 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €418 | €418 | - | - | - | - |
| Distributable reserves133 | - | - | - | €38,411 | €38,411 | €38,829 | €38,829 | €38,829 | = |
| Profit (loss) carried forward14 | -€50,394 | -€52,021 | -€53,425 | -€55,024 | -€157,085 | -€132,953 | -€109,091 | -€85,023 | ▲ 22.1% |
| Amounts payable17/49 | €405,024 | €352,673 | €297,955 | €242,814 | €281,204 | €223,404 | €165,987 | €118,049 | ▼ 28.9% |
| Amounts payable after more than one year17 | €403,258 | €351,068 | €296,603 | €241,462 | €279,852 | €222,052 | €164,387 | €116,479 | ▼ 29.1% |
| Financial debts170/4 | - | - | - | €241,462 | €279,852 | €222,052 | €164,387 | €116,479 | ▼ 29.1% |
| Amounts payable within one year42/48 | €1,766 | €1,606 | €1,352 | €1,352 | €1,352 | €1,352 | €1,352 | €1,570 | ▲ 16.1% |
| Trade debts44 | €414 | €254 | - | - | - | - | - | €218 | - |
| Suppliers440/4 | - | - | - | - | - | - | - | €218 | - |
| Other amounts payable47/48 | - | - | - | €1,352 | €1,352 | €1,352 | €1,352 | €1,352 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €248 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,615 | -€1,628 | -€1,404 | -€1,598 | -€102,061 | €24,132 | €23,862 | €24,068 | ▲ 0.9% |
| Operating cash flow (approximation) | -€1,615 | -€1,628 | -€1,404 | -€1,598 | -€102,061 | €24,132 | €23,862 | €24,068 | ▲ 0.9% |
| Investment in fixed assets (approximation) | - | €53,908 | €56,212 | €56,714 | €63,710 | €36,790 | €34,675 | €21,141 | ▼ 39.0% |
| Change in cash | - | -€70 | €89 | -€25 | €39 | €254 | -€229 | €43 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 18-06-2026 | 2026-00173290 |
| 31-12-2024 | full format | 20-06-2025 | 2025-00170051 |
| 31-12-2023 | full format | 01-08-2024 | 2024-00330886 |
| 31-12-2022 | full format | 22-06-2023 | 2023-00159029 |
| 31-12-2021 | full format | 06-07-2022 | 2022-20160537 |
| 31-12-2020 | full format | 26-07-2021 | 2021-42800138 |
| 31-12-2019 | full format | 18-08-2020 | 2020-43400360 |
| 31-12-2018 | full format | 13-08-2019 | 2019-45900227 |
| 31-12-2017 | full format | 25-07-2018 | 2018-38500227 |
| 31-12-2016 | full format | 05-07-2017 | 2017-28800090 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.