Equity
€55.7m ▼ 31.2%
BELSORG paid out €258,037 in dividends in a year with a loss of €20.9m.
BELSORG
Lifetime
18 annual accounts with figures on one time axispeak -€56,943 (2019)
-€83,745▲ €182,096
lowest -€20.9m (2025)
-€20.9m▼ €33.0m
peak €98.8m (2019)
€55.7m▼ 31.2%
€10.1m▼ 24.4%
peak 2 FTE (2012)
-not published
Board2 names since 2017
2 directorsEmmanuel GEY and 1 other
Owners2 names in the annual accounts
32.53%LAURINA and 1 other
Documentsfilings and deeds
10-04-2026112 days before the deadline
2025financial year
Gross margin from -€265,841 to -€83,745Loss of €20.9mCapital decrease of €30,000,000 to €47,812,298.73 21-10Reappointments: Antoinette FREDEAU-GROSMAN (director) and Emm… 12-03Dividend €258,037Equity from €80.8m to €55.7m
Key points
from the 2025 annual accountsResult
-€20.9m -€20.9m
From profit to loss in 2025, after a profit of €12.1m in 2024.
Filings
18 annual accounts since 2008
The 2017 accounts came 56 days late. The other nine of the last ten were filed on time.
At the same address
107 companies
Group
4 companies controlled
Heads a group. Known shareholders 65.06%.
Position in the sector
-€20.9m
Lower net result than 95% of companies in financial services. Sector median €103,919 · 3,044 companies.
Financial institution: outside the modelBankruptcy probability: sector outside the model
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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Signals
1 signal, which does not raise the risk
1 signal.
neutral
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 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 days early
2024
167 days early
2023
45 days early
2022
56 days early
2021
30 days early
2020
11 days early
2019
43 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 66 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 June (4 of the last 5 accounts filed within 56 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- LAURINA 32.53%equity €17.5m (2025) · annual accounts 2025
- MARINA 32.53%equity -€26.6m (2025) · annual accounts 2025
Shares in 5 companies, including Alcadasorg S.L. and Italsorg S.R.L.
Board & ownershipRecent changes
Amendment of the articles
Capital of €73,788,673.73, 168,766 shares · Gazette deed
Capital increase · Amendment of the articles
Capital from €73,478,273.73 to €73,788,673.73 · Capital from €47,812,298.73 to €73,478,273.73, 58,950 new shares · General meeting of 19-12-2025 · Gazette deed
Capital decrease of €30,000,000 to €47,812,298.73
Capital from €77,812,298.73 to €47,812,298.73 · General meeting of 15-10-2025 · Gazette deed
Reappointments: Antoinette FREDEAU-GROSMAN (director) and Emmanuel GEY (director)
General meeting of 27-01-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BELSORG Sint-Gillis (bij-Brussel) | €65.8m | -€83,745 | 84.6% | - |
| COFIR Brussels | €73.2m | -€90,255 | 96.5% | 0.2 |
| HERITAGE FUND Brussels | €79.8m | -€92,823 | 100.0% | - |
| ALIZEE INTERNATIONAL Brussels | €83.7m | -€407,197 | 73.8% | - |
| MONTE CINTO INDUSTRIES Etterbeek | €78.0m | -€511,282 | 99.3% | 0 |
| FINANCIERE HG Ixelles | €50.5m | -€82,061 | 99.8% | - |
| Redwoods Capital Grimbergen | €63.9m | -€76,901 | 100.0% | - |
These companies have the same main activity as BELSORG: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €50m and €84m, founded between 2005 and 2010.
Official details
Source: KBO- Status
- Active since 11-09-2007Normal situation
- Registered office
- 108 active companies are registered at this address11 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Activities of holding companiesNACE 64210
- Establishment unit
- 2.174.180.4671060 Sint-Gillis (bij-Brussel), since 11-09-2008
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2025
- €65.8m▼ 30.2%
- Filing
- Filed on 10-04-2026, 112 days before the end of the filing period
Companies linked to BELSORG
Subsidiaries and holdings
Insights on BELSORG
BELSORG is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €55.7m and a net result of -€20.9m.
Equity has been shrinking by about 6.9% per year since 2018. Its solvency ranks better than 73% of 3,042 sector peers (NACE 64, financial year 2025).
The company has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BELSORG
- What is the company number of BELSORG?
- The company number of BELSORG is 0891.985.274. The VAT number is the same number with BE in front: BE 0891.985.274.
- Where is BELSORG based?
- The registered office is at Marcel Broodthaersplein 8, 1060 Sint-Gillis (bij-Brussel).Company details
- What does BELSORG do?
- According to the KBO register, the main activity is activities of holding companies (NACE 64210).
- What is the legal form of BELSORG?
- BELSORG is a public limited company (NV).
- When was BELSORG founded?
- BELSORG was founded on 11-09-2007.
- Is BELSORG still active?
- Yes, BELSORG is an active enterprise in the KBO register.
- What is the turnover of BELSORG?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is BELSORG profitable?
- In financial year 2025, BELSORG made a loss of €20.9m.
- Where can I find the annual accounts of BELSORG?
- BELSORG filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BELSORG due?
- BELSORG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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