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Bely

Active
Public limited companyfounded 198144 yrs activeMoorseelsestraat(Heu) 152, 8501 Kortrijk, BelgiumKBO/BCE: BE 0422.390.161
Summary

Bely has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €480,249 and a net result of -€50,865. Equity is growing by ~3.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability8▼-29
Solvency100=
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.68 against 12.91 in 2024; short-term debt: 18.1% and cash: 2.7% of total assets), and 18.1% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 44 years 0 50 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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 2025
Solvency, return and age of the figures
Solvency
81.9%
Return on assets
-8.7%
Age of the figures
9 mo
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 03-06-2026, 58 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
58 d early
2024
50 d early
2023
8 d early
2022
5 d early
2021
6 d early
2020
5 d early
2019
9 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 20 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 31 December 1981, Bely was incorporated.1 The company has filed 45 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€480,249▼ 38.1%
2024 · €776,174
Total assets
€586,577▼ 28.1%
2024 · €815,835
Net result
-€50,865▼ 1,993%
2024 · -€2,430
Working capital
€390,815▼ 17.3%
2024 · €472,489
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result€26,607▼ 71.5%-€13,182-€9,077▲ 31.1%-€10,534▼ 16.1%-€62,270▼ 491%
Net result€40,382▼ 51.3%-€47,294€70,880-€2,430-€50,865▼ 1,993%
Equity€755,017▲ 5.7%€707,723▼ 6.3%€778,604▲ 10.0%€776,174▼ 0.3%€480,249▼ 38.1%
Total assets€893,252▲ 6.9%€853,868▼ 4.4%€802,450▼ 6.0%€815,835▲ 1.7%€586,577▼ 28.1%
Debt€138,235▲ 13.9%€146,145▲ 5.7%€23,846▼ 83.7%€39,661▲ 66.3%€106,328▲ 168%
Working capital€407,138▲ 14.4%€360,625▼ 11.4%€508,120▲ 40.9%€472,489▼ 7.0%€390,815▼ 17.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€100,000-€50,000€0€50,000Operating result 2021: €26,607€26,607Net result 2021: €40,382€40,382Operating result 2022: -€13,182-€13,182Net result 2022: -€47,294-€47,294Operating result 2023: -€9,077-€9,077Net result 2023: €70,880€70,880Operating result 2024: -€10,534-€10,534Net result 2024: -€2,430-€2,430Operating result 2025: -€62,270-€62,270Net result 2025: -€50,865-€50,86520212022202320242025-€100,000-€50,000€0€50,000Operating result 2023: -€9,077-€9,080Net result 2023: €70,880€70,900Operating result 2024: -€10,534-€10,500Net result 2024: -€2,430-€2,430Operating result 2025: -€62,270-€62,300Net result 2025: -€50,865-€50,900202320242025
The operating result stays negative: a loss of €62,270 in 2025 against €10,534 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €586,577
Fixed assets €89,434 ▼ 70.6%
Current assets €497,143 ▼ 2.9%
Equity and liabilities €586,577
Equity €480,249 ▼ 38.1%
Debt €106,328 ▲ 168%
Debt's share of the balance-sheet total rises from 4.9% to 18.1%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€60,224▼
2024 · -€6,653
Cash flow
-€48,819▼
2024 · €1,451
Current ratio
4.68▼
2024 · 12.91
Debt to equity
0.22▲
2024 · 0.05
ROE
-10.6%▼
2024 · -0.3%
ROA
-8.7%▼
2024 · -0.3%
Interest coverage
-24.27▼
2024 · 3.27
Debt ≤ 1 year
€106,328▲
2024 · €39,661
Income taxes
€245▲
2024 · €233
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.4% went bankrupt
5.2% stopped otherwise
94% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

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 8,594 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet Code20242025
Assets
Total assets20/58€815,835€586,577▼
Fixed assets21/28€303,685€89,434▼
Tangible fixed assets22/27€303,685€89,434▼
Land and buildings22€303,298€89,243▼
Plant, machinery and equipment23€387€190▼
Current assets29/58€512,150€497,143▼
Amounts receivable within one year40/41€31,431€24,967▼
Trade receivables40€3,473€563▼
Other amounts receivable41€27,958€24,405▼
Current investments50/53€462,425€456,357▼
Cash at bank and in hand54/58€18,294€15,819▼
Equity and liabilities
Total equity and liabilities10/49€815,835€586,577▼
Equity10/15€776,174€480,249▼
Contributions10/11€562,705€385,043▼
Capital10€562,705€385,043▼
Issued capital100€562,705€385,043▼
Reserves13€211,881€144,984▼
Non-distributable reserves130/1€26,881€18,394▼
Legal reserve130€26,875€18,390▼
Reserves not available under the articles1311€6€4▼
Distributable reserves133€185,000€126,590▼
Profit (loss) carried forward14€1,588-€49,778▼
Amounts payable17/49€39,661€106,328▲
Amounts payable within one year42/48€39,661€106,328▲
Current portion of amounts payable after more than one year42€2,250€0▼
Financial debts43-€0
Credit institutions430/8-€0
Trade debts44€1,168€11,147▲
Suppliers440/4€1,168€11,147▲
Other amounts payable47/48€36,243€95,181▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3,881€2,046▼
Other operating charges640/8€25,762€3,705▼
Non-recurring operating charges66A€145€58▼
Gross operating margin9900€19,254-€56,461▼
Operating profit (loss)9901-€10,534-€62,270▼
Financial income75/76B€6,302€14,132▲
Recurring financial income75€6,302€14,132▲
Financial charges65/66B-€2,035€2,481▲
Recurring financial charges65-€2,035€2,481▲
Profit (loss) for the period before taxes9903-€2,197-€50,619▼
Income taxes67/77€233€245▲
Profit (loss) for the period9904-€2,430-€50,865▼
Profit (loss) for the period to be appropriated9905-€2,430-€50,865▼
Appropriation of the result
Profit (loss) to be appropriated9906€1,588-€49,778▼
Profit (loss) brought forward from the previous period14P€4,018€1,087▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Non-recurring operating income76A€42,866-€49,732---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,042€5,267€3,892€3,881€2,046▼ 47.3%
Other operating charges640/8€22,093€22,604€24,558€25,762€3,705▼ 85.6%
Non-recurring operating charges66A€53--€145€58▼ 60.0%
Gross operating margin9900€55,795€14,689€19,373€19,254-€56,461▼ 393%
Operating profit (loss)9901€26,607-€13,182-€9,077-€10,534-€62,270▼ 491%
Financial income75/76B€3,072€8,624€55,298€6,302€14,132▲ 124%
Recurring financial income75€3,072€8,624€5,566€6,302€14,132▲ 124%
Non-recurring financial income76B--€49,732---
Financial charges65/66B-€10,894€42,525-€24,888-€2,035€2,481▲ 222%
Recurring financial charges65-€10,894€42,525-€24,888-€2,035€2,481▲ 222%
Profit (loss) for the period before taxes9903€40,573-€47,083€71,108-€2,197-€50,619▼ 2,204%
Income taxes67/77€191€211€228€233€245▲ 5.2%
Profit (loss) for the period9904€40,382-€47,294€70,880-€2,430-€50,865▼ 1,993%
Profit (loss) for the period to be appropriated9905€40,382-€47,294€70,880-€2,430-€50,865▼ 1,993%
Line20212022202320242025Change
Assets
Total assets20/58€893,252€853,868€802,450€815,835€586,577▼ 28.1%
Fixed assets21/28€351,715€347,098€270,484€303,685€89,434▼ 70.6%
Tangible fixed assets22/27€270,467€265,850€270,396€303,685€89,434▼ 70.6%
Land and buildings22€269,018€264,400€269,793€303,298€89,243▼ 70.6%
Plant, machinery and equipment23€1,450€1,450€603€387€190▼ 50.9%
Financial fixed assets28€81,248€81,248€87---
Current assets29/58€541,537€506,770€531,966€512,150€497,143▼ 2.9%
Amounts receivable within one year40/41€34,468€30,657€45,202€31,431€24,967▼ 20.6%
Trade receivables40€2,929-€537€3,473€563▼ 83.8%
Other amounts receivable41€31,539€30,657€44,665€27,958€24,405▼ 12.7%
Current investments50/53€449,085€431,159€458,338€462,425€456,357▼ 1.3%
Cash at bank and in hand54/58€57,984€44,954€10,834€18,294€15,819▼ 13.5%
Deferred charges and accrued income490/1--€17,591---
Equity and liabilities
Total equity and liabilities10/49€893,252€853,868€802,450€815,835€586,577▼ 28.1%
Equity10/15€755,017€707,723€778,604€776,174€480,249▼ 38.1%
Contributions10/11€562,705€562,705€562,705€562,705€385,043▼ 31.6%
Capital10€562,705€562,705€562,705€562,705€385,043▼ 31.6%
Issued capital100€562,705€562,705€562,705€562,705€385,043▼ 31.6%
Reserves13€208,337€208,337€211,881€211,881€144,984▼ 31.6%
Non-distributable reserves130/1€23,337€23,337€26,881€26,881€18,394▼ 31.6%
Legal reserve130€23,331€23,331€26,875€26,875€18,390▼ 31.6%
Reserves not available under the articles1311€6€6€6€6€4▼ 33.3%
Distributable reserves133€185,000€185,000€185,000€185,000€126,590▼ 31.6%
Profit (loss) carried forward14-€16,025-€63,319€4,018€1,588-€49,778▼ 3,235%
Amounts payable17/49€138,235€146,145€23,846€39,661€106,328▲ 168%
Amounts payable within one year42/48€134,399€146,145€23,846€39,661€106,328▲ 168%
Current portion of amounts payable after more than one year42€2,250€2,250€2,250€2,250€0▼ 100%
Financial debts43----€0-
Credit institutions430/8----€0-
Trade debts44€2,641€2,338€1,048€1,168€11,147▲ 854%
Suppliers440/4€2,641€2,338€1,048€1,168€11,147▲ 854%
Taxes, remuneration and social security45€1,144-----
Taxes450/3€1,144-----
Other amounts payable47/48€128,364€141,557€20,549€36,243€95,181▲ 163%
Accrued charges and deferred income492/3€3,836-----
Line20212022202320242025Change
Profit (loss) for the period9904€40,382-€47,294€70,880-€2,430-€50,865▼ 1,993%
+ Depreciation and write-downs630€7,042€5,267€3,892€3,881€2,046▼ 47.3%
Operating cash flow (approximation)€47,424-€42,027€74,772€1,451-€48,819▼ 3,465%
Investment in fixed assets (approximation)--€650€72,723-€37,082€212,205▲ 672%
Change in cash--€13,030-€34,120€7,460-€2,475▼ 133%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
03-06
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
12-01
State Gazette act Capital & shares · Restructuring
Resignations: DE DEENE Guy Jules Antoine (director) and DE DEENE Lydie (director) · Demerger · Share issue9 facts ▸
  • General meeting, 18-12-2025
  • Demerger, partiële splitsing door overneming, 18-12-2025
  • Share issue, volgestorte aandelen op naam, 88253
  • Accounting effect, 01-01-2025
  • Capital decrease, €177.661,95
  • Capital, €385.043,01
  • Statutes amendment
  • Director resignation, DE DEENE Guy Jules Antoine (director)
  • Director resignation, DE DEENE Lydie (director)
2025
31-12
Financial Weakest financial yearnet -€50,865
Net result drops to -€50,865, the lowest in the series.
11-06
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial Back to profitnet €70,880
Net result €70,880 after one loss-making year.
31-12
Financial Liquidity times 6current ratio 22.31
Current ratio from 3.47 to 22.31; short-term debt falls from €146,145 to €23,846.
26-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-07
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial Highest result since 2018net €82,871 ▲138%
Operating result €93,398, net result €82,871, both a record.
22-07
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial Back to profitnet €34,822
Net result €34,822 after one loss-making year.
29-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-07
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
NBB filing Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts

Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
no sitting director, last change in 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 1982
seat establishment The establishment unit on the map
Ground area
3,531 m²
Building footprint
272 m²
Volume, LiDAR
1,523 m³
Parcel 34016C0615/00C003, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NV BELY
Moorseelsestraat(Heu) 152, 8501 KortrijkActivities of head offices; management consultancy activities
since 19822.019.914.934
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34016C0615/00C003 Flanders 3,530 m² 1 · 272 m² 8.6 m · 2 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

2 people since 2025, 0 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
DE DEENE Guy Jules Antoine
  • Director, until 18-12-2025
DE DEENE Lydie
  • Director, until 18-12-2025
See the board, name and seat on a given date →

Articles of association

Purpose
Het beheer van een onroerend vermogen alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van haar…
Full purpose

Het beheer van een onroerend vermogen alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van haar onroerende goederen te bevorderen, zoals het onderhoud, de ontwikkeling, de verfraaiing en de verhuring van deze goederen, alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen, evenals alle verrichtingen van onroerende, roerende en financiële aard die rechtstreeks of onrechtstreeks met dit voorwerp verwant of verknocht zijn of de verwezenlijking ervan kunnen bevorderen.

Structure & network

Owners and holdings

1 holding

Owners 0

The accounts to 31-12-2022 list no shareholders, and no other source names one.

Holdings 1

According to the 2022 annual accounts of Bely and those 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.

Acquisitions and mergers

1 transaction
Split off to:BARISEAU
BE 0422.289.104partial demerger · State Gazette act of 12-01-2026 (2 acts) · effective 18-12-2025

Capital and shareholders

Capital over the years
  1. 12-01-2026 Capital reduction of 177,661.95 EUR · to 385,043.01 EUR

Recognitions · licences · registrations

Legal Entity Identifier

967600HI76RPOOCDVK46
no longer live in the LEI register

Identification & contact

Identification
Legal formPublic limited company
Founded31-12-1981
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID 0208:0422390161
Also 9925:BE0422390161
Registered 10-10-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.