Equity
-€162,248
Debts exceed assets in financial year 2025.
BELSTEIN
Lifetime
3 annual accounts with figures on one time axispeak €4,809 (2024)
-€155,834▼ €160,642
lowest -€167,642 (2025)
-€167,642▼ €170,975
peak €5,394 (2024)
-€162,248▼ €167,642
€494,374▲ 47×
Board1 name since 2023
1 directorSEBALY Hamid
Documentsfilings and deeds
11-06-202650 days before the deadline
2025micro format
Gross margin from €4,809 to -€155,834Loss of €167,642Equity from €5,394 to -€162,248Debts from €10,516 to €494,3741 establishment registeredInvestments €198,341
Key points
from the 2025 annual accountsResult
-€167,642 -€167,642
From profit to loss in 2025, after a profit of €3,333 in 2024.
Debts
€494,374 149% of the balance sheet
Suppliers 33%Taxes and wages 1%Other 67%
Of this, €181,315 falls due within a year.
Investments
€198,164 1460.0 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.74 was 1.50 in 2024
Short-term debts rose from €10,516 to €181,315.
Position in the sector
-48.9%
Lower solvency than 95% of companies in head offices and management consultancy. Sector median 55.5% · 39,368 companies.
Turnover not published (micro format)
Checked score
52
Fair
Financially stronger than 4% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.3%▲ +0.1 percentage points vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.2%▼ -0.1 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025lowest value
11-2025: 0.2%● unchanged vs 10-2025lowest value
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 1.0%▲ +0.7 percentage points vs 06-2026
08-2026: 1.0%● unchanged vs 07-2026
09-2026: 1.0%● unchanged vs 08-2026highest value
10-2026: 0.9%▼ -0.1 percentage points vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Loss of €167,642 (financial year 2025)
Negative equity -€162,248
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Size: total assets €332,126
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 3% of them on solvency, 10% on liquidity, 4% on profitability and 0% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,639 companies had the same profile as BELSTEIN has now. Each dot stands for 20 companies, two years later.
84.7%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BELSTEIN itself is lower: 0.9% within 12 months. It rests on far more data about BELSTEIN than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,639 companies, not a prediction for BELSTEIN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.74 (1.5 in 2024), below 1. Short-term debt is 54.6% and cash 0.7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€162,248
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 11-06-2026, 50 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
50 days early
2024
42 days early
2023
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 40 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 19 June (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0798440652
New establishment in Brussels
Belgiëplein 1
Purpose change
“L’organisation,la production et l’édition de spectacles,événements artistiques,culturels…” (deed in French) · General meeting of 15-07-2024 · Gazette deed
Incorporation
Founding capital of €1,000, 100 shares · Founder: SEBALY Hamid · Appointment: SEBALY Hamid (director) · published on 16-02-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BELSTEIN Woluwe-Saint-Lambert | €332,126 | -€155,834 | -48.9% | - |
| DAT CONSULTING Woluwe-Saint-Lambert | €322,747 | -€7,014 | 23.0% | - |
| NEO DEVELOPMENT Auderghem | €307,503 | -€147,745 | 97.8% | - |
| Myri_Ed Consulting Etterbeek | €337,137 | -€2,372 | -4.6% | - |
| J.D CONSULTING Forest | €374,854 | -€3,590 | -10.6% | - |
| AMYSAN Sint-Gillis (bij-Brussel) | €305,200 | -€7,104 | 2.8% | - |
| EXOSPEND Brussels | €309,143 | -€87,599 | -19.0% | - |
These companies have the same main activity as BELSTEIN: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €305,000 and €375,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 14-02-2023Normal situation
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Establishment units
- 2.341.741.5341200 Woluwe-Saint-Lambert, since 14-02-2023
- 2.384.567.2321020 Brussels, since 01-12-2025
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Annual accounts 2025
- €332,126▲ 21×
- Filing
- Filed on 11-06-2026, 50 days before the end of the filing period
Insights on BELSTEIN
BELSTEIN files the micro format. That format states no turnover. The gross margin fell from -€7,476 in 2023 to -€155,834 in 2025.
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 BELSTEIN
- What is the company number of BELSTEIN?
- The company number of BELSTEIN is 0798.440.652. The VAT number is the same number with BE in front: BE 0798.440.652.
- Where is BELSTEIN based?
- The registered office is at de Broquevillelaan 70, 1200 Woluwe-Saint-Lambert.Company details
- What does BELSTEIN do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of BELSTEIN?
- BELSTEIN is a private limited company (BV).
- When was BELSTEIN founded?
- BELSTEIN was founded on 14-02-2023.
- Is BELSTEIN still active?
- Yes, BELSTEIN is an active enterprise in the KBO register.
- How many employees does BELSTEIN have?
- BELSTEIN had an average of 0.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of BELSTEIN?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.
- Is BELSTEIN profitable?
- In financial year 2025, BELSTEIN made a loss of €167,642.
- Where can I find the annual accounts of BELSTEIN?
- BELSTEIN filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BELSTEIN due?
- BELSTEIN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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