BELVORAS
ActiveSummary
The annual accounts of BELVORAS for fiscal year 2024 show a net loss of 86% of the equity at the start of that year. The 2024 annual accounts show equity of €16k and a net result of €-98k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 9623 sector peers (fiscal year 2024). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
38
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability33▼-29
Solvency26▼-11
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.29 against 0.31 in 2023; short-term debt: 95.9% and cash: 0.8% of total assets), and 98.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
1.2%
Return on assets
-7.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 9623 sector peers (2024).
NBB · sector comparisonPosition among 9623 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-06-2025, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
44 d early
2023
41 d early
2022
17 d early
2021
20 d early
2020
33 d early
2019
22 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Turnover
€544k
EBIT margin
3.7%
Net result
€-98k
2023 · €21k
2018: €-37k
2019: €15k
2020: €280k
2021: €-186k
2022: €-123k
2023: €21k
2018 → 2024
Working capital
€-933k▼ 65.4%
2023 · €-564k
2018: €-44k
2019: €13k
2020: €402k
2021: €216k
2022: €93k
2023: €-564k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€544k
Equity€402k-€216k▼ 46.3%€93k▼ 56.9%€114k▲ 22.7%€16k▼ 86.1%
Operating result€281k-€-122k€-125k▼ 2.4%€20k€-53k
Net result€280k-€-186k€-123k▲ 34.1%€21k€-98k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €53k after €20k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.38M
Fixed assets
€989k ▲ 45.8%
Current assets
€387k ▲ 54.8%
Equity and liabilities €1.38M
Equity
€16k ▼ 86.1%
Debt
€1.36M ▲ 67.0%
Debt's share of the balance-sheet total rises from 87.7% to 98.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€145k▲
2023 · €32k
Cash flow
€100k▲
2023 · €33k
Current ratio
0.29▼
2023 · 0.31
Quick ratio
0.25▼
2023 · 0.29
Debt to equity
85.82▲
2023 · 7.15
ROE
-618.9%▼
2023 · 18.5%
ROA
-7.1%▼
2023 · 2.3%
Interest coverage
2.82▼
2023 · 264.78
Debt ≤ 1 year
€1.32M▲
2023 · €815k
Income taxes
€86▲
2023 · €17
Staff costs
€590k▲
2023 · €106k
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 · 2024 against 2023 · 51 lines
Balance sheet
Code20232024
Assets
Total assets20/58€929k€1.38M▲
Fixed assets21/28€678k€989k▲
Intangible fixed assets21€173k€148k▼
Tangible fixed assets22/27€505k€841k▲
Plant, machinery and equipment23€187k€405k▲
Furniture and vehicles24€10k€25k▲
Other tangible fixed assets26€308k€412k▲
Current assets29/58€250k€387k▲
Stocks and contracts in progress3€12k€60k▲
Stocks30/36€12k€60k▲
Amounts receivable within one year40/41€238k€316k▲
Trade receivables40€222k€316k▲
Other amounts receivable41€16k€114▼
Cash at bank and in hand54/58€590€11k▲
Equity and liabilities
Total equity and liabilities10/49€929k€1.38M▲
Equity10/15€114k€16k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€46k€-52k▼
Amounts payable17/49€815k€1.36M▲
Amounts payable within one year42/48€815k€1.32M▲
Trade debts44€60k€116k▲
Suppliers440/4€60k€116k▲
Taxes, remuneration and social security45€34k€104k▲
Taxes450/3€3k€3k▼
Remuneration and social security454/9€31k€101k▲
Other amounts payable47/48€721k€1.10M▲
Accrued charges and deferred income492/3-€40k
Income statement
Code20232024
Turnover70€544k-
Non-recurring operating income76A€36k€3k▼
Goods, raw materials, services and sundry goods60/61€443k-
Remuneration, social security and pensions62€106k€590k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€198k▲
Other operating charges640/8€132€281▲
Gross operating margin9900€138k€736k▲
Operating profit (loss)9901€20k€-53k▼
Financial income75/76B€903€6k▲
Recurring financial income75€903€6k▲
Financial charges65/66B€120€51k▲
Recurring financial charges65€120€51k▲
Profit (loss) for the period before taxes9903€21k€-98k▼
Income taxes67/77€17€86▲
Profit (loss) for the period9904€21k€-98k▼
Profit (loss) for the period to be appropriated9905€21k€-98k▼
Appropriation of the result
Profit (loss) to be appropriated9906€46k€-52k▼
Profit (loss) brought forward from the previous period14P€25k€46k▲
Social balance
Average headcount (FTE)90872.512.8▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €21k
Net result €21k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €114k ▲22.7%
Equity rises from €93k to €114k.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-186k
Net result drops to €-186k, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €280k ▲1,736%
Operating result €281k, net result €280k, both a record.
31-12
Financial
Liquidity times 14current ratio 15.56
Current ratio from 1.08 to 15.56; short-term debt falls from €149k to €28k.
31-12
Financial
Equity above €200kEq €402k ▲229%
2 profitable years in a row build equity to €402k.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
07-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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, Aalter · 2 establishment units since 2023
Ground area
2.0 ha
Building footprint
9,589 m²
Volume, LiDAR
69,126 m³
3 parcels, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
116
companies at this address
See who is registered here
2 establishment units
Buurtslagers
since 20232.347.446.124
Bon'Ap
since 20242.352.832.097
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44503H0052/00C000 | Flanders | 1.4 ha | 1 · 9,001 m² | 11.4 m · 3 fl. |
| 41014A1235/00L000 | Flanders | 5,409 m² | 1 · 390 m² | 11.1 m · 2 fl. |
| 34003A3317/00D002 | Flanders | 1,162 m² | 1 · 198 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 5 entries · 15,425 EUR awarded · 15,426 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 4 | 4,941 EUR | 9,135 EUR |
| 2024 | 1 | 10,484 EUR | 6,291 EUR |
Schemes
Ecologiepremie+
Vlaams opleidingsverlof (VOV)
Premie kwalificerend werkplekleren
Recognitions · licences · registrations
Food safety, FASFC
2 sites · 2 with a smileyAvelgem2.352.832.097
Aalst2.347.446.124
Dual-learning approval
2 live approvalsKeukenmedewerker (vwo)
Keukenmedewerker duaal (so)
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Of 3,042 companies in sector 47221 we hold annual accounts for 1,564. 923 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
Founded22-04-2005
Fiscal year end31-12
Activities, NACEBEL 2025
47221Retail sale of meat and meat products, excluding game and poultry
47120Other non-specialised retail sale
47222Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:lien.scherrens@meatandmore.be
Phone:092167316