BETULA
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation on 24-12-2025.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
22 d late
2023
19 d early
2022
29 d late
2020
20 d late
2019
21 d late
2018
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 18 days after 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 (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?PANDO HOLDING · 15 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,448▼ 207%
2024 · -€1,124
Working capital
€105,651▼ 1.1%
2023 · €106,774
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
Line20202022202320242025
Operating result€17,214▲ 13.6%€9,582-€23,513▲ 145%-€986-€3,373▼ 242%
Net result€14,521▼ 0.2%€9,662-€17,458▲ 80.7%-€1,124-€3,448▼ 207%
Equity€76,859▲ 17.0%€89,316-€106,774▲ 19.5%€105,651▼ 1.1%€102,202▼ 3.3%
Total assets€125,380▼ 10.1%€123,935-€112,604▼ 9.1%€105,651▼ 6.2%€102,202▼ 3.3%
Debt€48,521▼ 34.2%€34,619-€5,829▼ 83.2%€0▼ 100%
Working capital€70,512▲ 20.7%€89,316-€106,774▲ 19.5%€105,651▼ 1.1%
Staff (FTE)0-000
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3,373 in 2025 against €986 in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
Solvency
100.0%=
2024 · 100.0%
ROE
-3.4%▼
2024 · -1.1%
ROA
-3.4%▼
2024 · -1.1%
Income taxes
€0▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,866 | €13,586 | €0 | - | - | - |
| Other operating charges640/8 | - | €423 | €469 | €472 | €487 | ▲ 3.2% |
| Gross operating margin9900 | €32,500 | €23,591 | €23,982 | -€514 | -€2,885 | ▼ 462% |
| Operating profit (loss)9901 | €17,214 | €9,582 | €23,513 | -€986 | -€3,373 | ▼ 242% |
| Financial income75/76B | - | €3,089 | €0 | - | €0 | - |
| Recurring financial income75 | €3,370 | €3,089 | €0 | - | €0 | - |
| Financial charges65/66B | - | €831 | €235 | €138 | €76 | ▼ 45.2% |
| Recurring financial charges65 | €2,017 | €831 | €235 | €138 | €76 | ▼ 45.2% |
| Profit (loss) for the period before taxes9903 | €18,568 | €11,840 | €23,278 | -€1,124 | -€3,448 | ▼ 207% |
| Income taxes67/77 | €4,047 | €2,178 | €5,819 | €0 | €0 | - |
| Profit (loss) for the period9904 | €14,521 | €9,662 | €17,458 | -€1,124 | -€3,448 | ▼ 207% |
| Profit (loss) for the period to be appropriated9905 | €14,521 | €9,662 | €17,458 | -€1,124 | -€3,448 | ▼ 207% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €125,380 | €123,935 | €112,604 | €105,651 | €102,202 | ▼ 3.3% |
| Fixed assets21/28 | €28,451 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €28,451 | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Current assets29/58 | €96,929 | €123,935 | €112,604 | €105,651 | €102,202 | ▼ 3.3% |
| Amounts receivable within one year40/41 | €91,069 | €122,471 | €111,147 | €105,389 | €101,208 | ▼ 4.0% |
| Trade receivables40 | - | €115,100 | €103,539 | €101,288 | €100,288 | ▼ 1.0% |
| Other amounts receivable41 | - | €7,371 | €7,608 | €4,101 | €920 | ▼ 77.6% |
| Cash at bank and in hand54/58 | €5,860 | €1,464 | €1,457 | €262 | €994 | ▲ 280% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €125,380 | €123,935 | €112,604 | €105,651 | €102,202 | ▼ 3.3% |
| Equity10/15 | €76,859 | €89,316 | €106,774 | €105,651 | €102,202 | ▼ 3.3% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €7,455 | €7,455 | €7,455 | €7,455 | €7,455 | = |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Tax-exempt reserves132 | - | €5,455 | €5,455 | €5,455 | €5,455 | = |
| Profit (loss) carried forward14 | €52,945 | €71,862 | €89,320 | €88,196 | €84,748 | ▼ 3.9% |
| Investment grants15 | - | €0 | - | - | - | - |
| Amounts payable17/49 | €48,521 | €34,619 | €5,829 | €0 | - | - |
| Amounts payable after more than one year17 | €22,104 | €0 | - | - | - | - |
| Financial debts170/4 | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €26,417 | €34,619 | €5,829 | €0 | - | - |
| Current portion of amounts payable after more than one year42 | - | €7,531 | €0 | - | - | - |
| Trade debts44 | €1,645 | €21,670 | €4,810 | €0 | - | - |
| Suppliers440/4 | - | €21,670 | €4,810 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €5,419 | €1,019 | €0 | - | - |
| Taxes450/3 | - | €5,419 | €1,019 | €0 | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,521 | €9,662 | €17,458 | -€1,124 | -€3,448 | ▼ 207% |
| + Depreciation and write-downs630 | €14,866 | €13,586 | €0 | - | - | - |
| Operating cash flow (approximation) | €29,387 | €23,248 | €17,458 | -€1,124 | -€3,448 | ▼ 207% |
| Change in cash | - | - | -€8 | -€1,195 | €732 | ▲ 161% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
23-02
State Gazette act
Restructuring · End & cessationMerger · Dissolution · Accounting effect4 facts ▸
State Gazette act
Restructuring · End & cessation
Merger · Dissolution · Accounting effect4 facts ▸
- General meeting, 24-12-2025
- Merger, 24-12-2025
- Dissolution, 24-12-2025
- Accounting effect, 01-01-2026
2025
31-12
Financial
Weakest financial yearnet -€3,448
Net result drops to -€3,448, the lowest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 22 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €17,458 ▲80.7%
Operating result €23,513, net result €17,458, both a record.
31-12
Financial
Liquidity times 5current ratio 19.32
Current ratio from 3.58 to 19.32; short-term debt falls from €34,619 to €5,829.
31-12
Financial
Equity above €100,000Eq €106,774 ▲19.5%
5 profitable years in a row build equity to €106,774.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 20 days late
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 21 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
Show earlier events
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 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.
Structure & network
Part of the group
PANDO HOLDING
15 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- PANDO HOLDING
- BETULA
Highest known parent: PANDO HOLDING. The sources do not say who stands above it.
Owners 1
- PANDO HOLDINGparent100%
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.
Acquisitions and mergers
1 transactionTaken over by:PANDO HOLDING