BELUGA TREE
ActiveSummary
BELUGA TREE has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €207,711 and a net result of €135,299. Equity is shrinking by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 31% of 188 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▲+31
Solvency42▲+13
Growth72=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 2.28 against 1.4 in 2024; short-term debt: 43.9% and cash: 35.6% of total assets), but 82.8% of the assets are financed with debt.
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Signals
Six 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 59
Relative position
BE, all sectors
reference
Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
17.2%
Return on assets
11.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819232425
2018 to 2025 · latest year €207,711
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 30-06-2026, 31 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
31 d early
2024
6 d early
2023
7 d early
2022
28 d early
2021
31 d early
2020
30 d early
2019
10 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
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. Usually files around 3 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€1.8m▲ 2,829%
2023 · €60,562
EBIT margin
8.0%▼ 208.6pp
2023 · 216.5%
Net result
€135,299
2024 · -€15,244
Working capital
€676,528▲ 33.4%
2024 · €506,967
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€233,820▼ 89.6%€789,232▲ 238%€60,562▼ 92.3%€1.8m▲ 2,829%
Operating result€28,485-€19,056€131,144€141,586▲ 8.0%€267,693▲ 89.1%
Net result€20,042within the sector's middle half-€34,821below the sector's middle half€52,928within the sector's middle half-€15,244below the sector's middle half€135,299within the sector's middle half
EBIT margin12.2%▲ 15.9pp-2.4%▼ 14.6pp216.5%▲ 219.0pp8.0%▼ 208.6pp
Equity€87,656within the sector's middle half€72,412within the sector's middle half▼ 17.4%€207,711within the sector's middle half▲ 187%
Total assets€582,183within the sector's middle half▼ 45.6%€697,462within the sector's middle half▲ 19.8%€984,414within the sector's middle half▲ 41.1%€1.8mwithin the sector's middle half▲ 80.5%€1.2mwithin the sector's middle half▼ 32.2%
Debt€510,784▼ 49.9%€660,884▲ 29.4%€896,758▲ 35.7%€1.7m▲ 90.1%€997,189▼ 41.5%
Working capital€312,067above the sector's middle half▲ 286%€366,011above the sector's middle half▲ 17.3%€270,418within the sector's middle half▼ 26.1%€506,967above the sector's middle half▲ 87.5%€676,528within the sector's middle half▲ 33.4%
Solvency8.9%within the sector's middle half4.1%below the sector's middle half▼ 4.8pp17.2%within the sector's middle half▲ 13.2pp
Current ratio2.87above the sector's middle half▲ 1.772.10within the sector's middle half▼ 0.771.38within the sector's middle half▼ 0.731.40within the sector's middle half▲ 0.022.28within the sector's middle half▲ 0.88
Return on assets (ROA)3.4%within the sector's middle half▲ 12.4pp-5.0%below the sector's middle half▼ 8.4pp5.4%within the sector's middle half▲ 10.4pp-0.9%within the sector's middle half▼ 6.2pp11.2%above the sector's middle half▲ 12.1pp
Staff (FTE)5.6within the sector's middle half▲ 211%0.1below the sector's middle half▼ 98.2%0.1below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Turnover -92% on 2022. The accounts now follow the full schema, last year the abbreviated schema.
- 2022 Turnover +238%, Staff (FTE) -98% on 2021. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 89% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.2m
Equity
€207,711 ▲ 187%
Debt
€997,189 ▼ 41.5%
Debt's share of the balance-sheet total falls from 95.9% to 82.8%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
1.45▲
2024 · 1.05
Debt to equity
4.80▼
2024 · 23.54
ROE
65.1%▲
2024 · -21.1%
Debt ≤ 1 year
€528,372▼
2024 · €1.3m
Income taxes
€35,276
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,684 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €233,820 | €789,232 | €60,562 | €1.8m | - | - |
| Goods, raw materials, services and sundry goods60/61 | €546,497 | €482,313 | €3.7m | €3.8m | - | - |
| Remuneration, social security and pensions62 | €368,264 | €18,906 | €2,910 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €10,000 | -€4,200 | - | - | - | - |
| Other operating charges640/8 | €25 | - | - | - | - | - |
| Non-recurring operating charges66A | €63,066 | - | - | - | - | - |
| Gross operating margin9900 | €469,840 | -€4,350 | €134,054 | €141,586 | €267,693 | ▲ 89.1% |
| Operating profit (loss)9901 | €28,485 | -€19,056 | €131,144 | €141,586 | €267,693 | ▲ 89.1% |
| Financial income75/76B | €533 | €27 | €5 | €172 | €294 | ▲ 70.9% |
| Recurring financial income75 | €533 | €27 | €5 | €172 | €294 | ▲ 70.9% |
| Financial charges65/66B | €8,976 | €15,792 | €78,220 | €157,003 | €97,412 | ▼ 38.0% |
| Recurring financial charges65 | €8,976 | €15,792 | €78,220 | €157,003 | €97,412 | ▼ 38.0% |
| Profit (loss) for the period before taxes9903 | €20,042 | -€34,821 | €52,928 | -€15,244 | €170,575 | ▲ 1,219% |
| Income taxes67/77 | - | - | - | - | €35,276 | - |
| Profit (loss) for the period9904 | €20,042 | -€34,821 | €52,928 | -€15,244 | €135,299 | ▲ 988% |
| Profit (loss) for the period to be appropriated9905 | €20,042 | -€34,821 | €52,928 | -€15,244 | €135,299 | ▲ 988% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €582,183 | €697,462 | €984,414 | €1.8m | €1.2m | ▼ 32.2% |
| Fixed assets21/28 | €103,340 | - | - | - | - | - |
| Financial fixed assets28 | €103,340 | - | - | - | - | - |
| Current assets29/58 | €478,843 | €697,462 | €984,414 | €1.8m | €1.2m | ▼ 32.2% |
| Stocks and contracts in progress3 | €84,618 | €13,626 | €27,996 | €440,935 | €440,935 | = |
| Contracts in progress37 | €84,618 | €13,626 | €27,996 | €440,935 | €440,935 | = |
| Amounts receivable within one year40/41 | €79,593 | €143,388 | €471,378 | €383,371 | €68,569 | ▼ 82.1% |
| Trade receivables40 | €3,950 | €41,987 | €75,793 | €287,690 | €38,251 | ▼ 86.7% |
| Other amounts receivable41 | €75,643 | €101,401 | €395,585 | €95,681 | €30,317 | ▼ 68.3% |
| Cash at bank and in hand54/58 | €183,932 | €319,890 | €327,432 | €512,104 | €428,878 | ▼ 16.3% |
| Deferred charges and accrued income490/1 | €130,700 | €220,558 | €157,608 | €440,444 | €266,518 | ▼ 39.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €582,183 | €697,462 | €984,414 | €1.8m | €1.2m | ▼ 32.2% |
| Equity10/15 | - | - | €87,656 | €72,412 | €207,711 | ▲ 187% |
| Contributions10/11 | €138,345 | €138,345 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €138,345 | €138,345 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €138,345 | €138,345 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €454 | €454 | €3,100 | €3,100 | €6,150 | ▲ 98.4% |
| Non-distributable reserves130/1 | €454 | €454 | €3,100 | €3,100 | €6,150 | ▲ 98.4% |
| Legal reserve130 | €454 | €454 | €3,100 | €3,100 | €6,150 | ▲ 98.4% |
| Profit (loss) carried forward14 | -€67,400 | -€102,221 | €23,055 | €7,811 | €140,061 | ▲ 1,693% |
| Amounts payable17/49 | €510,784 | €660,884 | €896,758 | €1.7m | €997,189 | ▼ 41.5% |
| Amounts payable after more than one year17 | €135,601 | €74,022 | €11,771 | - | - | - |
| Other amounts payable178/9 | €135,601 | €74,022 | €11,771 | - | - | - |
| Amounts payable within one year42/48 | €166,776 | €331,451 | €713,996 | €1.3m | €528,372 | ▼ 58.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,771 | - | - |
| Financial debts43 | €60,920 | €64,326 | €212,252 | €750,000 | €342,050 | ▼ 54.4% |
| Credit institutions430/8 | - | - | €150,000 | €0 | €342,050 | - |
| Other loans439 | €60,920 | €64,326 | €62,252 | €750,000 | - | - |
| Trade debts44 | €63,166 | €11,307 | €211,871 | €284,916 | €147,420 | ▼ 48.3% |
| Suppliers440/4 | €63,166 | €11,307 | €211,871 | €284,916 | €147,420 | ▼ 48.3% |
| Advances received on contracts in progress46 | - | €242,425 | €289,873 | €223,200 | - | - |
| Taxes, remuneration and social security45 | €12,790 | €13,393 | - | - | €38,902 | - |
| Taxes450/3 | €1,921 | €13,393 | - | - | €38,902 | - |
| Remuneration and social security454/9 | €10,869 | - | - | - | - | - |
| Other amounts payable47/48 | €29,900 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | €208,407 | €255,411 | €170,991 | €434,556 | €468,817 | ▲ 7.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,042 | -€34,821 | €52,928 | -€15,244 | €135,299 | ▲ 988% |
| Operating cash flow (approximation) | €20,042 | -€34,821 | €52,928 | -€15,244 | €135,299 | ▲ 988% |
| Change in cash | - | €135,958 | €7,542 | €184,672 | -€83,225 | ▼ 145% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 04-06-2026
- Registered-office move, Quai au Foin 55,1000 Bruxelles
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €135,299
Net result €135,299 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €207,711 ▲187%
Equity rises from €72,412 to €207,711.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €52,928
Net result €52,928 after one loss-making year.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €20,042
Net result €20,042 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.87
Current ratio from 1.10 to 2.87; short-term debt falls from €822,797 to €166,776.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 10 days late
2019
31-12
Financial
Back to profitnet €133,806
Net result €133,806 after one loss-making year.
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 51 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2017
Ground area
4,740 m²
Building footprint
1,321 m²
Volume, LiDAR
10,662 m³
2 parcels, Brussels, Flanders · tallest building 23.7 m, ±7 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
BELUGA TREE
since 20172.269.110.607
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402B0164/00C002 | Flanders | 3,746 m² | 1 · 701 m² | - |
| 21812N1391/00E000 | Brussels | 994 m² | 1 · 620 m² | 23.7 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- LOMPVIS
- BELUGA TREE
Highest known parent: LOMPVIS. The sources do not say who stands above it.
Owners 1
- LOMPVISparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Wallonia-Brussels Federation
2021 to 2025 · 63 entries · 2,326,095 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 11 | 451,530 EUR |
| 2024 | 15 | 923,750 EUR |
| 2023 | 10 | 515,470 EUR |
| 2022 | 6 | 71,028 EUR |
| 2021 | 21 | 364,317 EUR |
Budget allocations
Show 1 more
European Union, budget
2024 · 1 entry · 15,766 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2024 | 1 | 15,766 EUR |
Projects
TETHYSOCEANCODEV2024 - OCEAN TETYDY
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Of 484 companies in sector 59112 we hold annual accounts for 248. 180 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
59112Motion picture, video and television programme production, sound recording and music publishing activities
59111Production of cinema films
E-invoicing
Reachable via Peppol
Peppol ID
0208:0682619385
Also
9925:BE0682619385
Registered
22-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.