BELSTEIN
Annual accounts 2025
micro format, filed on 11-06-2026, 50 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €332,126 on 31-12-2025in euro
in euro
Position in the sector
-48.9%
Lower than 95% of 39,368 companies in 2025.
0.74
Higher than 17% of 38,051 companies in 2025.
-50.5%
Lower than 95% of 38,523 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Staff
€19,455
Staff costs divided by the average number of full-time equivalents.
level
In 2025, 5 people joined and 5 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
332,126 | 15,910 | 4,001 | |
20 |
- | - | 74 | |
21/28 |
198,296 | 91 | 91 | |
21 |
159,890 | - | - | |
22/27 |
38,138 | - | - | |
24 |
38,138 | - | - | |
28 |
268 | 91 | 91 | |
29/58 |
133,829 | 15,819 | 3,837 | |
3 |
75,746 | - | - | |
30/36 |
75,746 | - | - | |
40/41 |
34,714 | 14,965 | - | |
40 |
9,743 | 14,955 | - | |
41 |
24,970 | 10 | - | |
54/58 |
2,470 | 855 | 3,837 | |
490/1 |
20,901 | - | - | |
| Balance sheet: equity and liabilities | ||||
10/49 |
332,126 | 15,910 | 4,001 | |
10/15 |
-162,248 | 5,394 | -9,539 | |
10/11 |
12,600 | 12,600 | 1,000 | |
14 |
-174,848 | -7,206 | -10,539 | |
17/49 |
494,374 | 10,516 | 13,540 | |
17 |
313,058 | - | - | |
178/9 |
313,058 | - | - | |
42/48 |
181,315 | 10,516 | 13,410 | |
43 |
- | - | 412 | |
430/8 |
- | - | 412 | |
44 |
161,181 | 1,679 | 1,411 | |
440/4 |
161,181 | 1,679 | 1,411 | |
46 |
15,793 | - | - | |
45 |
4,342 | 2,161 | 3,317 | |
450/3 |
1,379 | 1,271 | 3,317 | |
454/9 |
2,963 | 890 | - | |
47/48 |
- | 6,676 | 8,271 | |
492/3 |
- | - | 129 | |
| Income statement | ||||
9900 |
-155,834 | 4,809 | -7,476 | |
62 |
7,782 | - | - | |
630 |
136 | 74 | 810 | |
640/8 |
2,300 | 1,004 | 2,064 | |
9901 |
-166,052 | 3,731 | -10,350 | |
75/76B |
20 | - | - | |
75 |
20 | - | - | |
65/66B |
1,536 | 269 | 138 | |
65 |
1,536 | 269 | 138 | |
9903 |
-167,567 | 3,462 | -10,489 | |
67/77 |
75 | 130 | 50 | |
9904 |
-167,642 | 3,333 | -10,539 | |
9905 |
-167,642 | 3,333 | -10,539 | |
| Appropriation of the result | ||||
9906 |
-174,848 | -7,206 | -10,539 | |
14P |
-7,206 | -10,539 | - | |
| Social balance sheet | ||||
9087 |
0.4 | - | - | |
Hours worked1013 |
424 | - | - | |
| Document | ||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 11-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| -165,916 | 3,805 | -9,540 | ||
| -167,506 | 3,406 | -9,728 | ||
| 198,341 | 74 | 91 | ||
| 1,615 | -2,982 | - | ||
| -47,486 | 5,303 | -9,574 | ||
| -48.9% | 33.9% | - | ||
| 0.74 | 1.50 | - | ||
| 0.32 | 1.50 | - | ||
| - | 1.95 | - | ||
| - | 61.8% | - | ||
| -50.5% | 20.9% | - | ||
| -108.05 | 14.16 | -69.06 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 |
|---|---|
| 0.4 | |
| Joined | 5 |
| Left | 5 |
Source: social balance sheet in the 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €38,164 | - | - |
| Intangible fixed assets | €160,000 | - | - |
| Financial fixed assets | €177 | - | €91 |
| €136 | €74 | €810 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on BELSTEIN
The operating result for 2025 is a loss of €166,052, after a profit of €3,731 in 2024. It is the lowest result since 2023.
Equity is negative. Debt (€494,374) exceeds the balance-sheet total (€332,126).