BELLACOOLA
ActiveSummary
BELLACOOLA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.57M and a net result of €634k. Equity is shrinking by ~29.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 65% of 8001 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability99▲+95
Solvency84▲+61
Growth56▲+30
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 1.74 against 0.6 in 2023; short-term debt: 40.3% and cash: 4.3% of total assets), and 40.9% 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 46
Relative position
BE, all sectors
reference
Sector 46
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
59.1%
Return on assets
23.8%
Age of the figures
20 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 · Latest accounts filed on time
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 09-07-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2023
42 d late
2022
91 d late
2021
21 d early
2020
53 d early
2019
24 d early
2018
6 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Turnover
€6.68M▼ 3.0%
2020 · €6.89M
2019: €7.65M
2020: €6.89M
2019 → 2021
EBIT margin
-1.3%▲ 10.8pp
2020 · -12.1%
2019: 5.0%
2020: -12.1%
2019 → 2021
Net result
€634k
2023 · €-308k
2019: €240k
2020: €-842k
2021: €-94k
2022: €-21k
2023: €-308k
2019 → 2025
Working capital
€793k
2023 · €-1.04M
2019: €449k
2020: €-229k
2021: €-155k
2022: €-105k
2023: €-1.04M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232025Trend
Turnover€6.89M-€6.68M▼ 3.0%
Equity€362k-€269k▼ 25.8%€248k▼ 7.8%€-60k€1.57M
Operating result€-832k-€-88k▲ 89.4%€-16k▲ 82.2%€-292k▼ 1,761%€660k
Net result€-842k-€-94k▲ 88.9%€-21k▲ 77.7%€-308k▼ 1,375%€634k
Result per fiscal year
Operating resultNet result
The operating result is €660k in 2025, compared with €-292k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €2.66M
Fixed assets
€798k ▼ 20.8%
Current assets
€1.87M ▲ 21.1%
Equity and liabilities €2.66M
Equity
€1.57M
Debt
€1.09M
Debt finances 40.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€1.01M▲
2023 · €-109k
Cash flow
€983k▲
2023 · €-125k
Current ratio
1.74▲
2023 · 0.60
Quick ratio
0.11▲
2023 · 0.02
Debt to equity
0.69▲
2023 · -43.28
ROE
40.3%
ROA
23.8%▲
2023 · -12.1%
Interest coverage
49.69▲
2023 · -6.67
Debt ≤ 1 year
€1.07M▼
2023 · €2.58M
Income taxes
€5k▲
2023 · €1k
Staff costs
€2.13M▲
2023 · €943k
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 2023 · 54 lines
Balance sheet
Code20232025
Assets
Total assets20/58€2.55M€2.66M▲
Fixed assets21/28€1.01M€798k▼
Tangible fixed assets22/27€1.01M€798k▼
Plant, machinery and equipment23€97k€66k▼
Furniture and vehicles24€40k€20k▼
Other tangible fixed assets26€870k€711k▼
Financial fixed assets28€108€108=
Current assets29/58€1.54M€1.87M▲
Amounts receivable after more than one year29€2k-
Other amounts receivable291€2k-
Stocks and contracts in progress3€1.50M€1.74M▲
Stocks30/36€1.50M€1.74M▲
Amounts receivable within one year40/41-€5k
Trade receivables40-€5k
Cash at bank and in hand54/58€39k€114k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€2.55M€2.66M▲
Equity10/15€-60k€1.57M▲
Contributions10/11€62k€1.06M▲
Capital10€62k€1.06M▲
Issued capital100€62k€1.06M▲
Reserves13€6k€31k▲
Non-distributable reserves130/1€6k€31k▲
Legal reserve130€6k€31k▲
Profit (loss) carried forward14€-128k€481k▲
Amounts payable17/49€2.61M€1.09M▼
Amounts payable within one year42/48€2.58M€1.07M▼
Trade debts44€1.79M€117k▼
Suppliers440/4€1.79M€117k▼
Taxes, remuneration and social security45€404k€713k▲
Taxes450/3€206k€480k▲
Remuneration and social security454/9€198k€232k▲
Other amounts payable47/48€386k€244k▼
Accrued charges and deferred income492/3€28k€17k▼
Income statement
Code20232025
Non-recurring operating income76A-€69k
Remuneration, social security and pensions62€943k€2.13M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€183k€349k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-43k-
Other operating charges640/8€53k€61k▲
Gross operating margin9900€844k€3.20M▲
Operating profit (loss)9901€-292k€660k▲
Financial income75/76B€1k€18▼
Recurring financial income75€1k€18▼
Financial charges65/66B€16k€20k▲
Recurring financial charges65€16k€20k▲
Profit (loss) for the period before taxes9903€-307k€639k▲
Income taxes67/77€1k€5k▲
Profit (loss) for the period9904€-308k€634k▲
Profit (loss) for the period to be appropriated9905€-308k€634k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-128k€506k▲
Profit (loss) brought forward from the previous period14P€180k€-128k▼
Transfer to equity691/2-€25k
To the legal reserve6920-€25k
Social balance
Average headcount (FTE)908724.232.4▲
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
2026
21-09
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan VandammeAppointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representative: Stefan Goethaert · Resignation: Stefaan Vandamme (director)21 facts ▸
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan Vandamme
Appointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representative: Stefan Goethaert · Resignation: Stefaan Vandamme (director)21 facts ▸
- General meeting, 09-06-2026
- Director reappointment, Jo Willemyns (director)
- Director reappointment, Kris Castelein (director)
- Director reappointment, Stefaan Vandamme (director)
- Director in office, Stefan Goethaert (director)
- Director appointment, Stefan Goethaert BV (director)
- Permanent representative, Stefan Goethaert (permanent representative)
- Director appointment, Peter Vanbellingen (director)
- Other statement, 00u00, einde aan delegatie dagelijks bestuur
- Other statement, 00u00, delegatie dagelijks bestuur
- Power of attorney, Karine Wauters
- Power of attorney, Lowie Dekrem
- +9 further facts in this act
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-01
Financial
Back to profitnet €634k
Net result €634k after 4 loss-making years.
31-01
Financial
Liquidity triplescurrent ratio 1.74
Current ratio from 0.60 to 1.74; short-term debt falls from €2.58M to €1.07M.
31-01
Financial
Equity above €1MEq €1.57M
Equity rises from €-60k to €1.57M.
2024
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 42 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 91 days late
2022
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
06-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
Financial
Weakest financial yearnet €-842k ▼450%
Net result drops to €-842k, the lowest in the series; recovery starts the following year.
05-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
06-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 6 days late
Show earlier events
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26117905). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Michael Hamelryck
CurrentDirector · since 01-08-2026
Jo Willemyns
CurrentDirector · since 09-06-2026
Kris Castelein
CurrentDirector · since 09-06-2026
Stefan Goethaert BV
CurrentDirector · since 09-06-2026 · Legal entity · perm. rep.: Stefan Goethaert
VANBELLINGEN Peter
CurrentDirector · since 09-06-2026
01-08-2026
Michael Hamelryck: Appointed as Director
01-08-2026
Stefaan Vandamme: Reappointed as Director
09-06-2026
Jo Willemyns: Mandate renewed as Director
09-06-2026
Kris Castelein: Mandate renewed as Director
09-06-2026
Stefan Goethaert BV: Appointed as Director
Location & real-estate footprint
Registered office, Merchtem · 7 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.
Brusselsesteenweg 1851785 MerchtemGround area
5.5 ha
Building footprint
7,548 m²
Volume, LiDAR
36,795 m³
8 parcels, Flanders · tallest building 19.0 m, ±3 floors. Linked by address, not a title deed.
7 establishment units
ZEB Keerbergen
since 20112.203.031.534
ZEB Boortmeerbeek
since 20112.203.031.138
ZEB Tienen
since 20112.203.033.316
ZEB Gouden Kruispunt
since 20132.217.179.082
ZEB Beringen
since 20152.244.661.261
ZEB Diest
since 20192.289.498.522
Show 1 more locations
ZEB Zemst
since 20232.337.887.169
8 parcels
Flanders
8
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71522C0005/00C023 | Flanders | 3.8 ha | 1 · 811 m² | 2.9 m |
| 23602I0093/00H003 | Flanders | 4,312 m² | 1 · 1,588 m² | 12.8 m · 3 fl. |
| 24014C0109/00Z000 | Flanders | 3,407 m² | 1 · 1,403 m² | 7.1 m · 1 fl. |
| 24592F0002/00H002 | Flanders | 3,394 m² | 1 · 788 m² | 10.3 m · 3 fl. |
| 24101D0128/00W004indicative | Flanders | 3,149 m² | 1 · 871 m² | 5.5 m · 1 fl. |
| 12403E0643/00X000 | Flanders | 2,235 m² | 1 · 1,010 m² | 5.2 m · 1 fl. |
| 24120E0121/00C002 | Flanders | 991 m² | 1 · 1,077 m² | 19.0 m |
| 24048B0342/00H000 | Flanders | 10 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 7
7 of 8 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).
Structure & network
Connections & network
52 connected companiesLinked via shared directors
via Kris Castelein · Director
→
→
via Michael Hamelryck · Non-statutory director
→
via VANBELLINGEN Peter and Kris Castelein · Director
→
Show 48 more companies with a shared director
via Kris Castelein · Director
→
via Kris Castelein · Director
→
→
via Kris Castelein · Director
→
via Michael Hamelryck · Director
→
via Michael Hamelryck · Director
→
via Michael Hamelryck · Director
→
via Michael Hamelryck · Non-statutory director
→
via Michael Hamelryck · Non-statutory director
→
via Michael Hamelryck and Kris Castelein · Director
→
via VANBELLINGEN Peter and Kris Castelein · Director
→
via Kris Castelein · Director
→
via VANBELLINGEN Peter and Kris Castelein · Director
→
→
via Kris Castelein · Director
→
→
→
→
via Kris Castelein · Director
→
→
→
via Michael Hamelryck · Non-statutory director
→
→
→
→
via Kris Castelein · Director
→
→
→
→
via Kris Castelein · Director
→
→
→
via VANBELLINGEN Peter and Kris Castelein · Director
→
→
→
via Michael Hamelryck · Non-statutory director
→
via Michael Hamelryck · Non-statutory director
→
via Kris Castelein · Director
→
via Kris Castelein · Non-statutory director
→
via Kris Castelein · Non-statutory director
→
via Kris Castelein · Non-statutory director
→
via Michael Hamelryck · Non-statutory director
→
→
→
via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein
former→
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Merchtem
controls
BELLACOOLABE 0550.532.804
Recognitions · licences · registrations
Food safety, FASFC
2 sitesBoortmeerbeek2.203.031.138
Tielt-Winge2.217.179.082
Legal Entity Identifier
549300HKLKDWPRFEJE13
Similar companies · same sector, comparable size
MARISALINE
BE 0476.929.402
Mouscron · Eq €1,574,701
BELSCAN CONTINENTAL
BE 0480.094.867
Gent · Eq €1,576,327
BELGIAN FASHION PARTNERS
BE 0879.887.889
Beringen · Eq €1,577,219
VAN DER HAEGEN EN NECKEBROECK
BE 0414.710.632
Ninove · Eq €1,591,685
BRAND'it Fashion
BE 0629.709.548
Aalter · Eq €1,548,650
Of 1,311 companies in sector 46423 we hold annual accounts for 812. 383 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
Founded10-04-2014
Fiscal year end31-01
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.