BELSKIN
ActiveSummary
BELSKIN has been active since 1928 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €240,824 and a net result of €13,799. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 34% of 175 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▼-3
Solvency58▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 1.45 in 2024; short-term debt: 66.5% and cash: 0.7% of total assets), but 66.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 13
Relative position
BE, all sectors
reference
Manufacture of textiles (NACE 13)
about 62% fewer 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
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
33.4%
Return on assets
1.9%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €240,824
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
26 d late
2023
26 d late
2022
9 d late
2021
39 d early
2020
3 d early
2019
67 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% of the sector filed late.
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. Usually files around 9 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 oldest company in East Flanders, Textiles sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€240,824▲ 6.1%
2024 · €227,025
Total assets
€720,918▼ 0.8%
2024 · €727,071
Net result
€13,799▼ 33.3%
2024 · €20,680
Working capital
€241,543▲ 6.5%
2024 · €226,854
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 13, Manufacture of textiles, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€33,731▼ 36.4%-€4,215€988€38,061▲ 3,754%€27,072▼ 28.9%
Net result€22,908within the sector's middle half▼ 36.1%-€15,057below the sector's middle half-€19,206below the sector's middle half▼ 27.6%€20,680within the sector's middle half€13,799within the sector's middle half▼ 33.3%
Equity€240,608above the sector's middle half▲ 10.5%€225,551above the sector's middle half▼ 6.3%€206,345above the sector's middle half▼ 8.5%€227,025above the sector's middle half▲ 10.0%€240,824within the sector's middle half▲ 6.1%
Total assets€619,948above the sector's middle half▼ 7.5%€741,158above the sector's middle half▲ 19.6%€742,553above the sector's middle half▲ 0.2%€727,071above the sector's middle half▼ 2.1%€720,918within the sector's middle half▼ 0.8%
Debt€379,340▼ 17.5%€515,607▲ 35.9%€536,208▲ 4.0%€500,046▼ 6.7%€480,094▼ 4.0%
Working capital€441,583above the sector's middle half▼ 9.5%€333,416above the sector's middle half▼ 24.5%€313,141above the sector's middle half▼ 6.1%€226,854above the sector's middle half▼ 27.6%€241,543within the sector's middle half▲ 6.5%
Solvency38.8%within the sector's middle half▲ 6.3pp30.4%within the sector's middle half▼ 8.4pp27.8%within the sector's middle half▼ 2.6pp31.2%within the sector's middle half▲ 3.4pp33.4%within the sector's middle half▲ 2.2pp
Current ratio3.54within the sector's middle half▼ 0.331.82within the sector's middle half▼ 1.721.73within the sector's middle half▼ 0.091.45within the sector's middle half▼ 0.281.50within the sector's middle half▲ 0.05
Return on assets (ROA)3.7%within the sector's middle half▼ 1.7pp-2.0%within the sector's middle half▼ 5.7pp-2.6%below the sector's middle half▼ 0.6pp2.8%within the sector's middle half▲ 5.4pp1.9%within the sector's middle half▼ 0.9pp
Staff (FTE)2.5▲ 47.1%2.4▼ 4.0%2.1▼ 12.5%2▼ 4.8%1.9within the sector's middle half▼ 5.0%
above
within
below
the middle half (P25 to P75) of NACE 13, Manufacture of textiles, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €720,918
Fixed assets
€171 =
Current assets
€720,747 ▼ 0.8%
Equity and liabilities €720,918
Equity
€240,824 ▲ 6.1%
Debt
€480,094 ▼ 4.0%
Debt's share of the balance-sheet total falls from 68.8% to 66.6%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
0.10▲
2024 · 0.10
Debt to equity
1.99▼
2024 · 2.20
ROE
5.7%▼
2024 · 9.1%
Debt ≤ 1 year
€479,205▼
2024 · €500,046
Income taxes
€228▲
2024 · €188
Staff costs
€19,506▼
2024 · €25,461
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 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 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 17,040 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2,757 | €1,340 | €4,518 | €0 | - | - |
| Remuneration, social security and pensions62 | €33,196 | €31,350 | €30,889 | €25,461 | €19,506 | ▼ 23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,080 | €4,080 | €0 | - | - | - |
| Other operating charges640/8 | €9,460 | €9,440 | €10,139 | €13,512 | €10,714 | ▼ 20.7% |
| Gross operating margin9900 | €80,467 | €40,655 | €42,016 | €77,034 | €57,291 | ▼ 25.6% |
| Operating profit (loss)9901 | €33,731 | -€4,215 | €988 | €38,061 | €27,072 | ▼ 28.9% |
| Financial income75/76B | €0 | €664 | €154 | €301 | €75 | ▼ 75.0% |
| Recurring financial income75 | €0 | €664 | €154 | €301 | €75 | ▼ 75.0% |
| Financial charges65/66B | €10,678 | €11,344 | €20,170 | €17,494 | €13,120 | ▼ 25.0% |
| Recurring financial charges65 | €10,678 | €11,344 | €20,170 | €17,494 | €13,120 | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €23,053 | -€14,895 | -€19,029 | €20,868 | €14,027 | ▼ 32.8% |
| Income taxes67/77 | €144 | €162 | €177 | €188 | €228 | ▲ 21.8% |
| Profit (loss) for the period9904 | €22,908 | -€15,057 | -€19,206 | €20,680 | €13,799 | ▼ 33.3% |
| Profit (loss) for the period to be appropriated9905 | €22,908 | -€15,057 | -€19,206 | €20,680 | €13,799 | ▼ 33.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €619,948 | €741,158 | €742,553 | €727,071 | €720,918 | ▼ 0.8% |
| Fixed assets21/28 | €4,251 | €171 | €171 | €171 | €171 | = |
| Tangible fixed assets22/27 | €4,251 | €171 | €171 | €171 | €171 | = |
| Land and buildings22 | €171 | €171 | €171 | €171 | €171 | = |
| Furniture and vehicles24 | €4,080 | €0 | - | - | - | - |
| Current assets29/58 | €615,696 | €740,987 | €742,382 | €726,900 | €720,747 | ▼ 0.8% |
| Stocks and contracts in progress3 | €549,950 | €595,500 | €659,400 | €676,350 | €672,250 | ▼ 0.6% |
| Stocks30/36 | €549,950 | €595,500 | €659,400 | €676,350 | €672,250 | ▼ 0.6% |
| Amounts receivable within one year40/41 | €36,510 | €48,220 | €79,545 | €17,045 | €43,632 | ▲ 156% |
| Trade receivables40 | €31,755 | €47,147 | €66,990 | €16,197 | €38,628 | ▲ 138% |
| Other amounts receivable41 | €4,755 | €1,072 | €12,555 | €848 | €5,004 | ▲ 490% |
| Cash at bank and in hand54/58 | €29,236 | €97,267 | €3,436 | €33,505 | €4,865 | ▼ 85.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €619,948 | €741,158 | €742,553 | €727,071 | €720,918 | ▼ 0.8% |
| Equity10/15 | €240,608 | €225,551 | €206,345 | €227,025 | €240,824 | ▲ 6.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | €24,433 | €24,433 | €24,433 | €24,433 | €24,433 | = |
| Reserves13 | €83,314 | €83,314 | €83,314 | €83,314 | €83,314 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €77,114 | €77,114 | €77,114 | €77,114 | €77,114 | = |
| Profit (loss) carried forward14 | €70,861 | €55,804 | €36,598 | €57,278 | €71,077 | ▲ 24.1% |
| Amounts payable17/49 | €379,340 | €515,607 | €536,208 | €500,046 | €480,094 | ▼ 4.0% |
| Amounts payable after more than one year17 | €200,000 | €100,000 | €100,000 | €0 | - | - |
| Financial debts170/4 | €200,000 | €100,000 | €100,000 | €0 | - | - |
| Amounts payable within one year42/48 | €174,114 | €407,571 | €429,241 | €500,046 | €479,205 | ▼ 4.2% |
| Current portion of amounts payable after more than one year42 | €3,513 | €100,000 | €100,000 | €200,000 | €200,000 | = |
| Financial debts43 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Credit institutions430/8 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Trade debts44 | €22,135 | €66,177 | €77,525 | €38,566 | €37,542 | ▼ 2.7% |
| Suppliers440/4 | €22,135 | €66,177 | €77,525 | €38,566 | €37,542 | ▼ 2.7% |
| Taxes, remuneration and social security45 | €16,224 | €25,980 | €22,672 | €22,755 | €3,205 | ▼ 85.9% |
| Taxes450/3 | €12,447 | €22,237 | €19,811 | €19,934 | €237 | ▼ 98.8% |
| Remuneration and social security454/9 | €3,777 | €3,744 | €2,861 | €2,821 | €2,967 | ▲ 5.2% |
| Other amounts payable47/48 | €32,241 | €115,413 | €129,044 | €138,725 | €138,458 | ▼ 0.2% |
| Accrued charges and deferred income492/3 | €5,226 | €8,036 | €6,967 | €0 | €889 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,908 | -€15,057 | -€19,206 | €20,680 | €13,799 | ▼ 33.3% |
| + Depreciation and write-downs630 | €4,080 | €4,080 | €0 | - | - | - |
| Operating cash flow (approximation) | €26,988 | -€10,977 | -€19,206 | €20,680 | €13,799 | ▼ 33.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €68,031 | -€93,831 | €30,069 | -€28,640 | ▼ 195% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
29-06
State Gazette act
Reappointments: Nadine Vanovenberghe (director) and Philip Bracke (director)5 facts ▸
State Gazette act
Reappointments: Nadine Vanovenberghe (director) and Philip Bracke (director)
5 facts ▸
- General meeting, 08-08-2025
- Director reappointment, Nadine Vanovenberghe (director)
- Director reappointment, Philip Bracke (director)
- Board meeting, 08-08-2025
- Director reappointment, Philip Bracke (managing director)
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €20,680
Net result €20,680 after 2 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €35,847
Net result €35,847 after 2 loss-making years.
25-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management, last change in 2025
Board 2
Nadine Vanovenberghe
CurrentDirector · since 08-08-2025
Philip Bracke
CurrentDirector · since 08-08-2025
Day-to-day management 1
Philip Bracke
CurrentManaging director · since 08-08-2025
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 1928
Ground area
5,603 m²
Building footprint
1,247 m²
Volume, LiDAR
5,821 m³
Parcel 46384C1170/00T003, Flanders · tallest building 11.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Sterrestraat 203, 9160 Lokeren
since 19282.003.360.596
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46384C1170/00T003 | Flanders | 5,603 m² | 1 · 1,247 m² | 11.9 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.
Mandate history
2 people since 2025, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Nadine Vanovenberghe |
|
| Philip Bracke |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Of 138 companies in sector 13960 we hold annual accounts for 85. 62 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded05-05-1928
Fiscal year end31-12
Activities, NACEBEL 2025
13960Manufacture of textiles
14240Manufacture of wearing apparel
E-invoicing
Reachable via Peppol
Peppol ID
0208:0400177953
Also
9925:BE0400177953
Registered
01-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.