Specialized Belgium Distribution
ActiveFrom the official registers: KBO 4 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of Specialized Belgium Distribution is 2.8% (moderate). The 2025 annual accounts show equity of €2.2m and a net result of -€448,056. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 32% of 12,757 sector peers (NACE 47, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 30-12-2021 Normal situation
- Legal form
- Private limited company
- Registered office
- Astridlaan(Ove) 156, 9500 Geraardsbergen
- Activity
- Retail sale of bicycles NACE 47632and 4 others
- Establishment units
- 4 establishment units
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Board and ownership
Board
- Gilling BasDirector · since 10-01-2022
- Martin WyrschDirector · since 30-09-2024
- Peter KerleDirector · since 17-02-2025
Shareholders
- Holdings
- Shares in 1 company COLOR MONKEY
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.8%
Annual accounts 2025
- Gross margin
- €2.2m
- ▲ 3.3%
- Turnover
- ≈ €8.7m
- estimated
- Loss
- €448,056
- ▼ 22.9%
- Equity
- €2.2m
- Total assets
- €10.2m
- ▼ 10.5%
- Staff
- 19.5 FTE
- ▲ 1.6%
2025 accounts filed 25 days after the deadline
Filed on 25-08-2026at the National Bank
Score breakdownraises riskLast filed accounts filed 25 days late; 2 of the last 3 accounts lateFounded in 2021Liquidity: current ratio 0.72, cash €498,465Size: 19.5 FTE, total assets €10.2mShow the evidence
Checked score
Score 2025
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 41% of small companies in retail trade (NACE 47)
Financial strength · tick: 2024
Weak
Solvency
46+31
equity 21.1% of total assets
Liquidity
16-5
short-term debt 73.5% · cash 4.9%
Profitability
23+5
return on assets -4.4%
Bankruptcy probability within 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 12.6%
12-2024: 13.6%▲ +1.0 percentage point vs 11-2024
01-2025: 15.6%▲ +2.0 percentage points vs 12-2024
02-2025: 15.6%● unchanged vs 01-2025
03-2025: 15.6%● unchanged vs 02-2025
04-2025: 14.7%▼ -0.9 percentage points vs 03-2025
05-2025: 14.7%● unchanged vs 04-2025
06-2025: 14.5%▼ -0.2 percentage points vs 05-2025
07-2025: 14.5%● unchanged vs 06-2025
08-2025: 16.8%▲ +2.3 percentage points vs 07-2025highest value
09-2025: 16.8%● unchanged vs 08-2025
10-2025: 11.3%▼ -5.5 percentage points vs 09-2025
11-2025: 6.6%▼ -4.7 percentage points vs 10-2025
12-2025: 7.5%▲ +0.9 percentage points vs 11-2025
01-2026: 9.1%▲ +1.6 percentage points vs 12-2025
02-2026: 3.4%▼ -5.7 percentage points vs 01-2026
03-2026: 3.3%▼ -0.1 percentage points vs 02-2026
04-2026: 3.5%▲ +0.2 percentage points vs 03-2026
05-2026: 3.5%● unchanged vs 04-2026
06-2026: 3.8%▲ +0.3 percentage points vs 05-2026
07-2026: 3.9%▲ +0.1 percentage points vs 06-2026
08-2026: 4.7%▲ +0.8 percentage points vs 07-2026
09-2026: 2.7%▼ -2.0 percentage points vs 08-2026lowest value
10-2026: 2.8%▲ +0.1 percentage points vs 09-2026
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.72 (0.76 in 2024), below 1. Short-term debt is 73.5% and cash 4.9% of total assets. 78.9% of the assets are financed with debt and provisions.
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 47, small). It does better than 37% of them on solvency, 14% on liquidity, 14% on profitability and 98% on growth.
The bankruptcy probability was computed on 31-10-2026 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.
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).
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Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
25 days late
2024
158 days late
2023
440 days late
2022
444 days late
← 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 267 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 May (3 of the last 4 filed years within 144 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
Key points
Documents
Annual accounts at the NBB
- Annual accounts 2025filed on 25-08-2026
- Annual accounts 2024filed on 05-01-2026
- Annual accounts 2023filed on 14-10-2025
- Annual accounts 2022filed on 17-10-2024
Acts in the Belgian Official Gazette
- Capital & sharesact of 22-12-2025
- Amendment of the articlesact of 21-11-2025
- Resignations & appointmentsact of 18-04-2025
- Resignations & appointmentsact of 10-01-2025
Articles and registers
- Coordinated articles of associationnotaries' database
- Entry in the KBO registerKBO Public Search
Key facts about Specialized Belgium Distribution
- What is the company number of Specialized Belgium Distribution?
- The company number of Specialized Belgium Distribution is 0779.540.104. The VAT number is the same number with BE in front: BE 0779.540.104.
- Where is Specialized Belgium Distribution based?
- The registered office is at Astridlaan(Ove) 156, 9500 Geraardsbergen.Company details
- What does Specialized Belgium Distribution do?
- According to the KBO register, the main activity is retail sale of bicycles (NACE 47632).
- What is the legal form of Specialized Belgium Distribution?
- The legal form of Specialized Belgium Distribution is Private limited company (BV).
- When was Specialized Belgium Distribution founded?
- Specialized Belgium Distribution was founded on 30-12-2021.
- Is Specialized Belgium Distribution still active?
- Yes, Specialized Belgium Distribution is an active enterprise in the KBO register.
- How many employees does Specialized Belgium Distribution have?
- Specialized Belgium Distribution had an average of 19.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of Specialized Belgium Distribution?
- The turnover in financial year 2025 is ≈ €8.7m. This figure is estimated from the gross margin of €2.2m and 87 comparable companies (NACE 47). It probably lies between €5.2m and €16.0m.
- Is Specialized Belgium Distribution profitable?
- In financial year 2025, Specialized Belgium Distribution made a loss of €448,056.
- Where can I find the annual accounts of Specialized Belgium Distribution?
- Specialized Belgium Distribution filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
- When are the next annual accounts of Specialized Belgium Distribution due?
- Specialized Belgium Distribution must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Companies linked to Specialized Belgium Distribution
Subsidiaries and holdings
- COLOR MONKEY100%
Comparable companies
These companies have the same main activity as Specialized Belgium Distribution: retail sale of bicycles (NACE 47632). They are comparable in size and age: total assets between €2.6m and €18m, founded between 2003 and 2021.
| Company | Total assets | Gross margin |
|---|---|---|
| Specialized Belgium Distribution Geraardsbergen | €10.2m | €2.2m |
| ATELIER ZAAF Leuven | €5.0m | €0.6m |
| JOULE Gent | €2.6m | €1.8m |
| VAN EYCK C. Aalter | €7.4m | €1.9m |
| COOL ELECTRO CYCLES Roeselare | €6.4m | - |
| CYCLOBILITY Kluisbergen | €17.9m | €6.4m |
| VELODÔME Antwerpen | €7.1m | - |
Next steps
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