BELSTAND
ActiveSummary
BELSTAND has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €466k and a net result of €22k. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 630 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability55▼-13
Solvency52▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 1.49 in 2024; short-term debt: 23.3% and cash: 3.4% of total assets), but 72.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Sector 74
lower
← 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
27.1%
Return on assets
1.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
8 d early
2022
31 d late
2021
30 d late
2020
31 d late
2019
69 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€22k▲ 187%
2024 · €8k
2018: €36k
2019: €24k
2020: €17k
2021: €79k
2022: €109k
2023: €22k
2024: €8k
2018 → 2025
Working capital
€284k▲ 139%
2024 · €119k
2018: €-47k
2019: €-85k
2020: €-108k
2021: €-62k
2022: €65k
2023: €85k
2024: €119k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€330k-€435k▲ 31.9%€453k▲ 4.2%€457k▲ 0.9%€466k▲ 2.0%
Operating result€101k-€133k▲ 31.9%€48k▼ 63.8%€33k▼ 31.7%€77k▲ 134%
Net result€79k-€109k▲ 38.0%€22k▼ 79.6%€8k▼ 65.2%€22k▲ 187%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 134% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.72M
Fixed assets
€1.04M ▼ 7.5%
Current assets
€685k ▲ 89.6%
Equity and liabilities €1.72M
Equity
€466k ▲ 2.0%
Debt
€1.26M ▲ 22.4%
Debt's share of the balance-sheet total rises from 69.2% to 72.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€193k▲
2024 · €141k
Cash flow
€138k▲
2024 · €116k
Current ratio
1.71▲
2024 · 1.49
Quick ratio
0.64▼
2024 · 1.26
Debt to equity
2.70▲
2024 · 2.25
ROE
4.8%▲
2024 · 1.7%
ROA
1.3%▲
2024 · 0.5%
Interest coverage
4.19▼
2024 · 5.78
Debt ≤ 1 year
€402k▲
2024 · €243k
Debt > 1 year
€856k▲
2024 · €783k
Income taxes
€13k▲
2024 · €5k
Staff costs
€241k▲
2024 · €241k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.48M€1.72M▲
Fixed assets21/28€1.12M€1.04M▼
Tangible fixed assets22/27€1.11M€1.03M▼
Land and buildings22€844k€791k▼
Plant, machinery and equipment23€248k€233k▼
Furniture and vehicles24€22k€6k▼
Financial fixed assets28€9k€10k▲
Current assets29/58€361k€685k▲
Stocks and contracts in progress3€56k€427k▲
Stocks30/36€56k€427k▲
Amounts receivable within one year40/41€201k€199k▼
Trade receivables40€178k€173k▼
Other amounts receivable41€23k€26k▲
Cash at bank and in hand54/58€102k€58k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.48M€1.72M▲
Equity10/15€457k€466k▲
Contributions10/11€21k€21k=
Reserves13€81k€103k▲
Tax-exempt reserves132€51k€51k=
Distributable reserves133€30k€52k▲
Profit (loss) carried forward14€302k€293k▼
Investment grants15€54k€50k▼
Amounts payable17/49€1.03M€1.26M▲
Amounts payable after more than one year17€783k€856k▲
Financial debts170/4€766k€835k▲
Other amounts payable178/9€18k€21k▲
Amounts payable within one year42/48€243k€402k▲
Current portion of amounts payable after more than one year42€91k€93k▲
Trade debts44€109k€98k▼
Suppliers440/4€109k€98k▼
Taxes, remuneration and social security45€43k€62k▲
Taxes450/3€6k€25k▲
Remuneration and social security454/9€37k€37k▲
Other amounts payable47/48€531€148k▲
Accrued charges and deferred income492/3€1k-
Income statement
Code20242025
Remuneration, social security and pensions62€241k€241k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€109k€116k▲
Other operating charges640/8€2k€3k▲
Gross operating margin9900€384k€437k▲
Operating profit (loss)9901€33k€77k▲
Financial income75/76B€4k€4k▼
Recurring financial income75€4k€4k▼
Financial charges65/66B€24k€46k▲
Recurring financial charges65€24k€46k▲
Profit (loss) for the period before taxes9903€12k€35k▲
Income taxes67/77€5k€13k▲
Profit (loss) for the period9904€8k€22k▲
Profit (loss) for the period to be appropriated9905€8k€22k▲
Appropriation of the result
Profit (loss) to be appropriated9906€309k€324k▲
Profit (loss) brought forward from the previous period14P€302k€302k=
Transfer to equity691/2€8k€22k▲
To other reserves6921€8k€22k▲
Profit to be distributed694/7-€9k
Return on contributions (dividend)694-€9k
Social balance
Average headcount (FTE)90874.24.0▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €8k ▼65.2%
Net result drops to €8k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €109k ▲38%
Operating result €133k, net result €109k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 69 days late
2019
31-12
Financial
Equity above €200kEq €242k ▲45.8%
2 profitable years in a row build equity to €242k.
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1 day late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Nivelles · 1 establishment unit since 1993
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.
Avenue Thomas Edison 1221402 NivellesGround area
2,437 m²
Building footprint
1,148 m²
Parcel 25099D0012/00E009, Wallonia. Linked by address, not a title deed.
1 establishment unit
BELSTAND
since 19932.051.461.215
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25099D0012/00E009 | Wallonia | 2,437 m² | 1 · 1,148 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VEKTOR
BE 0476.900.203
Liège · Eq €465,924
FELIX AND COM
BE 0541.409.458
Court-Saint-Etienne · Eq €474,126
TOTAL CONCEPT
BE 0463.234.980
Ranst · Eq €447,904
WENDY DECOR
BE 0445.878.712
Maarkedal · Eq €447,721
CLIP DISPLAY SERVICES
BE 0444.808.148
Koksijde · Eq €486,903
Of 1,236 companies in sector 74140 we hold annual accounts for 353. 205 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-02-1991
Fiscal year end31-12
Activities, NACEBEL 2025
16230Manufacture of other builders' carpentry and joinery
74140Other specialised design activities
31004Manufacture of dining room, living room, bedroom and bathroom furniture
43350Other building finishing work
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.