Summary
Belufin 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 €15.52M and a net result of €6.18M. Equity is growing by ~35.5% per year across the filed fiscal years. Its solvency ranks better than 46% of 2394 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 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 · 4 filingsDeviation from the deadline
2025
39 d late
2024
18 d late
2023
12 d early
2022
38 d early
← 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, full schema
Equity
€15.52M▲ 64.1%
2024 · €9.46M
2022: €4.98M
2023: €9.25M
2024: €9.46M
2022 → 2025
Net result
€6.18M▲ 1,815%
2024 · €323k
2022: €4.33M
2023: €4.37M
2024: €323k
2022 → 2025
Total assets
€27.56M▲ 13.1%
2024 · €24.37M
2022: €16.63M
2023: €19.75M
2024: €24.37M
2022 → 2025
Solvency
56.3%▲ 17.5pp
2024 · 38.8%
2022: 29.9%
2023: 46.9%
2024: 38.8%
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€4.98M-€9.25M▲ 85.8%€9.46M▲ 2.2%€15.52M▲ 64.1%
Operating result€103k-€678k▲ 556%€634k▼ 6.4%€404k▼ 36.3%
Net result€4.33M-€4.37M▲ 1.0%€323k▼ 92.6%€6.18M▲ 1,815%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 36% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.56M
Fixed assets
€27.26M ▲ 12.5%
Current assets
€305k ▲ 113%
Equity and liabilities €27.56M
Equity
€15.52M ▲ 64.1%
Debt
€12.04M ▼ 19.2%
Debt's share of the balance-sheet total falls from 61.2% to 43.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
39.8%▲
2024 · 3.4%
ROA
22.4%▲
2024 · 1.3%
Debt ≤ 1 year
€6.51M▼
2024 · €9.78M
Debt > 1 year
€5.53M▲
2024 · €5.03M
Income taxes
€36k▼
2024 · €108k
Staff costs
€63k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€24.37M€27.56M▲
Fixed assets21/28€24.23M€27.26M▲
Financial fixed assets28€24.23M€27.26M▲
Current assets29/58€143k€305k▲
Amounts receivable within one year40/41€489€58k▲
Trade receivables40-€46k
Other amounts receivable41€489€12k▲
Cash at bank and in hand54/58€141k€245k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€24.37M€27.56M▲
Equity10/15€9.46M€15.52M▲
Contributions10/11€650k€650k=
Capital10€650k€650k=
Issued capital100€650k€650k=
Reserves13€65k€65k=
Non-distributable reserves130/1€65k€65k=
Legal reserve130€65k€65k=
Profit (loss) carried forward14€8.74M€14.81M▲
Amounts payable17/49€14.91M€12.04M▼
Amounts payable after more than one year17€5.03M€5.53M▲
Financial debts170/4€5.03M€5.53M▲
Amounts payable within one year42/48€9.78M€6.51M▼
Current portion of amounts payable after more than one year42€1.37M€1.72M▲
Financial debts43€2.19M€2.98M▲
Credit institutions430/8-€750k
Other loans439€2.19M€2.23M▲
Trade debts44€21k€28k▲
Suppliers440/4€21k€28k▲
Taxes, remuneration and social security45€108k€155k▲
Taxes450/3€108k€140k▲
Remuneration and social security454/9-€15k
Other amounts payable47/48€6.10M€1.63M▼
Accrued charges and deferred income492/3€106k€3k▼
Income statement
Code20242025
Remuneration, social security and pensions62-€63k
Other operating charges640/8€1k€1k▲
Gross operating margin9900€635k€469k▼
Operating profit (loss)9901€634k€404k▼
Financial income75/76B€27k€6.08M▲
Recurring financial income75€27k€6.08M▲
Financial charges65/66B€231k€262k▲
Recurring financial charges65€231k€262k▲
Profit (loss) for the period before taxes9903€431k€6.22M▲
Income taxes67/77€108k€36k▼
Profit (loss) for the period9904€323k€6.18M▲
Profit (loss) for the period to be appropriated9905€323k€6.18M▲
Appropriation of the result
Profit (loss) to be appropriated9906€8.86M€14.93M▲
Profit (loss) brought forward from the previous period14P€8.54M€8.74M▲
Profit to be distributed694/7€120k€120k=
Return on contributions (dividend)694€120k€120k=
Social balance
Average headcount (FTE)9087-1.0
The notes to these accounts (9 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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 39 days late
2025
31-12
Financial
Highest result since 2022net €6.18M ▲1815%
Net result €6.18M, the highest in the series.
31-12
Financial
Equity above €10MEq €15.52M ▲64.1%
4 profitable years in a row build equity to €15.52M.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
31-12
Financial
Weakest financial yearnet €323k ▼92.6%
Net result drops to €323k, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €5MEq €9.25M ▲85.8%
2 profitable years in a row build equity to €9.25M.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Gent · 1 establishment unit since 2021
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.
Rodebeukendreef 5a9050 GentGround area
1,000 m²
Building footprint
163 m²
Volume, LiDAR
862 m³
Parcel 44022A0386/00Y009, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Belufin
since 20212.324.161.471
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44022A0386/00Y009 | Flanders | 1,000 m² | 1 · 163 m² | 7.9 m · 2 fl. |
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
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SINFONIA INVESTMENTS
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Of 24,725 companies in sector 64210 we hold annual accounts for 19,762. 4,837 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 formPublic limited company
Founded10-11-2021
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.