Losses
-€23,566 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
BELUTH
Lifetime
4 annual accounts with figures on one time axispeak €50,501 (2022)
-€2,066▼ €567
lowest -€16,490 (2023)
-€3,615▼ €154
peak €35,089 (2022)
€11,523▼ 23.9%
€4,960▼ 16.9%
Board3 names since 2020
2 directorsBenedikt PIEPERS and 1 other
Documentsfilings and deeds
01-04-202629 days before the deadline
2025micro format
Gross margin from -€1,499 to -€2,066Loss of €3,615Equity from €15,138 to €11,523Debts from €5,973 to €4,960Investments €11,252Cash from €17,056 to €2,325
Key points
from the 2025 annual accountsInvestments
€11,252 11.8 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.54 was 2.95 in 2024
Short-term debts fell from €5,973 to €4,960.
Filings
4 annual accounts since 2022
The last four annual accounts were filed 29 to 35 days before the end of the period.
Starting capital
€500 100 shares
Position in the sector
-€3,615
Lower net result than 85% of companies in architecture and engineering. Sector median €16,690 · 11,795 companies.
Turnover not published (micro format)
Checked score
89
Excellent
Financially stronger than 33% of micro companies in architecture and engineering (NACE 71)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 14,829 companies (NACE 71, micro).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: 0.1%▲ +0.1 percentage points vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: < 0.1%▼ -0.1 percentage points vs 03-2025lowest value
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: 0.1%▲ +0.1 percentage points vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Loss of €3,615, the second in a row (financial year 2025)
lowers risk
Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)
Size: total assets €16,483
Liquidity: current ratio 0.54, cash €2,325, halved
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 71, micro). It does better than 69% of them on solvency, 40% on liquidity, 4% on profitability and 19% on growth.
The bankruptcy probability was computed on 10-11-2026 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 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 3,591 companies had the same profile as BELUTH has now. Each dot stands for 9 companies, two years later.
87.4%
were still trading
9.4%
stopped another way
3.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BELUTH itself is lower: 0.1% within 12 months. It rests on far more data about BELUTH than the profile alone.
Test of the method
The method was tested on the 497,448 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 3,591 companies, not a prediction for BELUTH. 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
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.54 (2.95 in 2024), below 1. Short-term debt is 30.1% and cash 14.1% of total assets. 30.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€3,615
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
29 days early
2024
30 days early
2023
35 days early
2022
33 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 32 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 30 March (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end11-11-2026 today30-04-2027 deadline
Recent changes
Resignation: Annelies TIMMERMAN (director)
Appointment: Benedikt PIEPERS (director) · General meeting of 29-12-2023 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0760581948
Resignation: Benedikt PIEPERS (director)
Appointment: Annelies TIMMERMAN (director) · General meeting of 15-12-2022 · Gazette deed
Incorporation
Founding capital of €500, 100 shares · Founder: PIEPERS Benedikt Kris Jeroen Johan · Appointment: PIEPERS Benedikt Kris Jeroen Johan (director) · published on 30-12-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BELUTH Harelbeke | €16,483 | -€2,066 | 69.9% | - |
| SmartEnerJ Leuven | €14,651 | -€892 | 35.6% | - |
| ERESCON Peer | €14,172 | -€11,740 | -95.6% | - |
| ECO BETONADVIES Oosterzele | €13,701 | -€3,628 | 91.2% | - |
| JOHE Peer | €19,894 | -€674 | 65.4% | - |
| demalena Leuven | €19,877 | -€14,702 | 97.4% | - |
| Vicon Mechelen | €15,229 | -€53,293 | -1003.1% | - |
These companies have the same main activity as BELUTH: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €13,700 and €19,900, founded between 2020 and 2022.
Official details
Source: KBO- Status
- Active since 28-12-2020Normal situation
- Activity
- Engineering and related technical consultancy, excluding land surveyorsNACE 71121
- Establishment unit
- 2.312.021.0318530 Harelbeke, since 28-12-2020
- Financial year end
- 30 September
- Peppol
- Reachable since 31-03-2024
Annual accounts to 30-09-2025
- €16,483▼ 21.9%
- Filing
- Filed on 01-04-2026, 29 days before the end of the filing period
Insights on BELUTH
BELUTH files the micro format. That format states no turnover. The gross margin fell from €50,501 in 2022 to -€2,066 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 BELUTH
- What is the company number of BELUTH?
- The company number of BELUTH is 0760.581.948. The VAT number is the same number with BE in front: BE 0760.581.948.
- Where is BELUTH based?
- The registered office is at Twee-Bruggenstraat 66, 8530 Harelbeke.Company details
- What does BELUTH do?
- According to the KBO register, the main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121).
- What is the legal form of BELUTH?
- BELUTH is a private limited company (BV).
- When was BELUTH founded?
- BELUTH was founded on 28-12-2020.
- Is BELUTH still active?
- Yes, BELUTH is an active enterprise in the KBO register.
- What is the turnover of BELUTH?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is BELUTH profitable?
- In financial year 2025, BELUTH made a loss of €3,615.
- Where can I find the annual accounts of BELUTH?
- BELUTH filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BELUTH due?
- BELUTH must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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