BELWORK
ActiveSummary
BELWORK has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €208k and a net result of €25k. Equity is growing by ~7.9% per year across the filed fiscal years. Its solvency ranks better than 58% of 10359 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability60▲+19
Solvency69=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity ample (current ratio 1.76 against 1.75 in 2024; short-term debt: 48% and cash: 2.5% of total assets), but 55.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 · 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
44.3%
Return on assets
5.4%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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 · 10 filingsDeviation from the deadline
2025
30 d late
2024
52 d late
2023
61 d late
2022
47 d late
2021
30 d late
2020
153 d late
2019
193 d late
← 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, abbreviated schema
Equity
€208k▲ 13.7%
2024 · €183k
2018: €117k
2019: €130k
2020: €144k
2021: €123k
2022: €185k
2023: €185k
2024: €183k
2018 → 2025
Total assets
€469k▲ 11.8%
2024 · €419k
2018: €310k
2019: €315k
2020: €286k
2021: €276k
2022: €238k
2023: €380k
2024: €419k
2018 → 2025
Net result
€25k
2024 · €-3k
2018: €20k
2019: €12k
2020: €15k
2021: €-21k
2022: €144k
2023: €831
2024: €-3k
2018 → 2025
Working capital
€171k▲ 6.6%
2024 · €161k
2018: €94k
2019: €110k
2020: €127k
2021: €127k
2022: €172k
2023: €163k
2024: €161k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€123k-€185k▲ 50.3%€185k▲ 0.4%€183k▼ 1.6%€208k▲ 13.7%
Operating result€21k-€178k▲ 736%€12k▼ 93.1%€42k▲ 244%€55k▲ 29.0%
Net result€-21k-€144k€831▼ 99.4%€-3k€25k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 29% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €469k
Fixed assets
€72k ▲ 64.4%
Current assets
€396k ▲ 5.7%
Equity and liabilities €469k
Equity
€208k ▲ 13.7%
Debt
€261k ▲ 10.3%
Debt's share of the balance-sheet total falls from 56.4% to 55.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€82k▲
2024 · €54k
Cash flow
€53k▲
2024 · €9k
Current ratio
1.76▲
2024 · 1.75
Quick ratio
0.47▲
2024 · 0.40
Debt to equity
1.26▼
2024 · 1.30
ROE
12.1%▲
2024 · -1.6%
ROA
5.4%▲
2024 · -0.7%
Interest coverage
4.11▲
2024 · 2.79
Debt ≤ 1 year
€225k▲
2024 · €215k
Debt > 1 year
€36k▲
2024 · €22k
Income taxes
€13k▼
2024 · €29k
Staff costs
€28k▼
2024 · €45k
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€419k€469k▲
Fixed assets21/28€44k€72k▲
Tangible fixed assets22/27€37k€64k▲
Furniture and vehicles24€25k€55k▲
Other tangible fixed assets26€12k€8k▼
Financial fixed assets28€7k€9k▲
Current assets29/58€375k€396k▲
Stocks and contracts in progress3€290k€291k▲
Stocks30/36€290k€291k▲
Amounts receivable within one year40/41€20k€62k▲
Trade receivables40€1k€1k=
Other amounts receivable41€19k€61k▲
Current investments50/53€22k€22k=
Cash at bank and in hand54/58€34k€12k▼
Deferred charges and accrued income490/1€9k€9k▲
Equity and liabilities
Total equity and liabilities10/49€419k€469k▲
Equity10/15€183k€208k▲
Contributions10/11€6k€6k=
Capital10€6k€6k=
Issued capital100€6k€6k=
Reserves13€34k€34k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€32k€32k=
Profit (loss) carried forward14€142k€167k▲
Amounts payable17/49€237k€261k▲
Amounts payable after more than one year17€22k€36k▲
Financial debts170/4€22k€36k▲
Amounts payable within one year42/48€215k€225k▲
Financial debts43-€12k
Credit institutions430/8-€12k
Trade debts44€117k€83k▼
Suppliers440/4€117k€83k▼
Taxes, remuneration and social security45€4k€14k▲
Taxes450/3-€14k
Remuneration and social security454/9€4k-
Other amounts payable47/48€94k€117k▲
Income statement
Code20242025
Remuneration, social security and pensions62€45k€28k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€28k▲
Other operating charges640/8€1k€6k▲
Gross operating margin9900€101k€116k▲
Operating profit (loss)9901€42k€55k▲
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Non-recurring financial income76B€3k€3k▲
Financial charges65/66B€20k€20k▲
Recurring financial charges65€20k€20k▲
Profit (loss) for the period before taxes9903€26k€38k▲
Income taxes67/77€29k€13k▼
Profit (loss) for the period9904€-3k€25k▲
Profit (loss) for the period to be appropriated9905€-3k€25k▲
Appropriation of the result
Profit (loss) to be appropriated9906€142k€167k▲
Profit (loss) brought forward from the previous period14P€145k€142k▼
The notes to these accounts (13 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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 30 days late
2025
31-12
Financial
Back to profitnet €25k
Net result €25k after one loss-making year.
31-12
Financial
Equity above €200kEq €208k ▲13.7%
Equity rises from €183k to €208k.
21-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 52 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
16-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 47 days late
2022
31-12
Financial
Back to profitnet €144k
Net result €144k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 4.21
Current ratio from 1.95 to 4.21; short-term debt falls from €134k to €53k.
31-12
Financial
Equity above €150kEq €185k ▲50.3%
Equity rises from €123k to €185k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Weakest financial yearnet €-21k ▼248%
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
Show earlier events
09-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 193 days late
2020
16-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 229 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-12
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 142 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Tournai · 3 establishment units since 2011
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.
Chaussée de Lille(HER) 8987522 TournaiGround area
829 m²
Building footprint
562 m²
Volume, LiDAR
3,870 m³
3 parcels, Wallonia · tallest building 16.3 m, ±5 floors. Linked by address, not a title deed.
3 establishment units
TABAC EXPRESSE
since 20112.216.613.811
PRESS SHOP
since 20132.224.215.740
TABAC EXPRESSE 2
since 20162.259.107.729
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57038A0169/00T000 | Wallonia | 578 m² | 1 · 374 m² | 8.7 m · 1 fl. |
| 57081G0001/00B000 ProtectedMonument |
Wallonia | 128 m² | 1 · 97 m² | 11.3 m · 3 fl. |
| 57081H0130/00B000 | Wallonia | 122 m² | 1 · 91 m² | 16.2 m · 5 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Food safety, FASFC
2 sitesTournai2.216.613.811
Tournai2.224.215.740
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Of 418 companies in sector 47260 we hold annual accounts for 264. 208 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 formPrivate limited company
Founded16-09-2011
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47260Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:czerwiec.29@wp.pl
Phone:0489/05.00.01
Phone:0489/05.00.00