ACTIVE

Belgostar

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Financial year 2025 · closed on 31/10/2025

Net result

207,2 k €

+0.8% YoY

Gross margin

235,8 k €

+1.1% YoY

Equity

949 k €

+27.9% YoY

What does Belgostar do?

Belgostar is a Public limited company incorporated in 1965. Its registered office is in Perwez.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.425.968

Incorporation

03/11/1965

Legal form

Public limited company

Registered office

Rue des Andains 4
1360 Perwez · WallonieSee on map

Contributed capital

78 105,68 €

Latest accounts

31/10/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	235,8 k €	+1.1%	233,2 k €	+3.6%	225 k €	+66.8%	134,9 k €	+771%	15,5 k €	+29.3%	12 k €	+109%	-138,1 k €	-133%	416,8 k €	+107%	201,4 k €	+21.1%	166,3 k €	-14.2%	193,8 k €	+22.0%	158,8 k €	-30.4%	228,1 k €	-12.8%	261,8 k €	+57.5%	166,2 k €
EBITDA	217,1 k €	+1.0%	215,1 k €	+3.6%	207,6 k €	+74.4%	119,1 k €	+14164%	-846,5 €	+73.1%	-3,1 k €	+98.4%	-202,1 k €	-170%	290,4 k €	+262%	80,3 k €	+210%	25,9 k €	-56.7%	59,8 k €	-10.4%	66,8 k €	-37.1%	106,2 k €	-39.6%	175,8 k €	+272%	47,3 k €
Operating result	207,8 k €	+1.0%	205,7 k €	+3.8%	198,2 k €	+79.3%	110,6 k €	+1102%	-11 k €	+23.4%	-14,4 k €	+95.5%	-322,2 k €	+41.3%	-548,6 k €	-912%	67,5 k €	+399%	13,5 k €	-72.2%	48,6 k €	-6.9%	52,2 k €	-43.1%	91,8 k €	-40.9%	155,4 k €	+3315%	4,5 k €
Net result	207,2 k €	+0.8%	205,6 k €	+5.5%	194,8 k €	+88.2%	103,5 k €	+597%	-20,8 k €	-41.8%	-14,7 k €	-103%	552,1 k €	+158%	-955 k €	-3571%	27,5 k €	+13.0%	24,3 k €	-62.8%	65,4 k €	+89.4%	34,5 k €	-29.6%	49 k €	-35.4%	75,9 k €	+552%	-16,8 k €
Balance sheet
Equity	949 k €	+27.9%	741,8 k €	+38.3%	536,2 k €	+57.1%	341,4 k €	+43.5%	237,9 k €	-6.9%	255,5 k €	-5.4%	270,2 k €	+196%	-281,9 k €	-142%	673,1 k €	+4.3%	645,6 k €	+3.9%	621,3 k €	+11.8%	555,8 k €	+6.6%	521,3 k €	+10.4%	472,3 k €	+19.2%	396,4 k €
Total assets	953,8 k €	+28.2%	743,8 k €	+38.1%	538,7 k €	+14.3%	471,4 k €	-2.4%	483,1 k €	-60.5%	1,2 M €	-19.1%	1,5 M €	-20.5%	1,9 M €	-30.9%	2,7 M €	+1.8%	2,7 M €	-2.9%	2,8 M €	-0.6%	2,8 M €	+0.3%	2,8 M €	-3.1%	2,9 M €	+32.9%	2,2 M €
Cash	140,4 k €	-23.7%	184,1 k €	-17.7%	223,7 k €	+52.2%	147 k €		–		16,3 k €	-71.7%	57,5 k €	+554401%	10,4 €	-99.8%	6,7 k €	+210%	2,2 k €	+2422%	85,8 €	-99.8%	39,9 k €	+1269%	2,9 k €	-96.8%	91,5 k €	+227%	28 k €
Debts	4,7 k €	+136%	2 k €	-20.0%	2,5 k €	-98.1%	130 k €	-47.0%	245,2 k €	-72.8%	900,9 k €	-23.0%	1,2 M €	-44.5%	2,1 M €	+5.4%	2 M €	+1.3%	2 M €	-4.5%	2,1 M €	-3.9%	2,2 M €	+0.5%	2,1 M €	-5.2%	2,3 M €	+38.4%	1,6 M €
Other
Workforce	–		–		–		–		–		–		1,0 ETP	-50.0%	2,0 ETP	0.0%	2,0 ETP	-16.7%	2,4 ETP	-4.0%	2,5 ETP	0.0%	2,5 ETP	+4.2%	2,4 ETP	+20.0%	2,0 ETP	0.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/10/2025 · 1 active · 21 ended

Active mandates

CF Group Netherlands Holding SRL

Administrateur · since 01 juin 2025 · until 01 juin 2031

Represented by Jérôme, Ivan Abbé

Active

Ended mandates

KEMAQUA

Managing director · since 22 septembre 2008 · until 22 septembre 2014 · 0899.704.197

Represented by Teemu Griffiths

Ended

KEMAQUA

Managing director · since 22 septembre 2008 · 0899.704.197

Represented by Teemu Griffiths

Ended

KEMAQUA

Managing director · since 22 septembre 2008 · until 18 janvier 2017 · 0899.704.197

Represented by Teemu Griffiets

Ended

Raymonde Ernes

Director · since 30 mai 2008 · until 30 mai 2014

Ended

At this address

Other companies at this address

Company	CBE no.
AQUA TECHNOLOGY● Bankrupt	0458.547.605
LUCAB● Active	0899.825.151

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/11/2024	01/11/2023	01/11/2022	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/10/2025	31/10/2024	31/10/2023	31/10/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	10 months	12 months	12 months
Filing date	30/03/2026	09/09/2025	25/04/2024	30/05/2023	12/07/2022	29/07/2021
General meeting	13/03/2026	28/08/2025	09/04/2024	30/04/2023	15/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/10/2025	13/03/2026	30/03/2026	French	PDF
Abridged model	31/10/2024	28/08/2025	09/09/2025	French	PDF
Abridged model	31/10/2023	09/04/2024	25/04/2024	French	PDF
Abridged model	31/10/2022	30/04/2023	30/05/2023	French	PDF
Abridged model	31/12/2021	15/06/2022	12/07/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	29/07/2021	French	PDF
Abridged model	31/12/2019	08/09/2020	01/10/2020	French	PDF
Abridged model	31/12/2018	30/04/2019	23/08/2019	French	PDF
Abridged model	31/12/2017	24/04/2018	29/08/2018	French	PDF
Abridged model	31/12/2016	18/01/2017	01/06/2017	French	PDF
Abridged model	31/12/2015	26/04/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	28/04/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	22/04/2014	12/08/2014	French	PDF
Abridged model	31/12/2012	23/04/2013	30/04/2013	French	PDF
Abridged model	31/12/2011	30/05/2012	26/06/2012	French	PDF
Abridged modelCorrection	31/12/2010	22/04/2011	08/06/2011	French	PDF
Abridged model	31/12/2010	22/04/2011	26/05/2011	French	PDF
Abridged model	31/12/2009	31/05/2010	14/06/2010	French	PDF
Abridged model	31/12/2008	29/05/2009	16/06/2009	French	PDF
Abridged model	31/12/2007	30/05/2008	19/06/2008	French	PDF
Abridged model	31/12/2006	30/05/2007	27/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/10/2025 · 1 active · 21 ended

Active mandates

CF Group Netherlands Holding SRL

Administrateur · since 01 juin 2025 · until 01 juin 2031

Represented by Jérôme, Ivan Abbé

Active

Ended mandates

KEMAQUA

Managing director · since 22 septembre 2008 · until 22 septembre 2014 · 0899.704.197

Represented by Teemu Griffiths

Ended

KEMAQUA

Managing director · since 22 septembre 2008 · 0899.704.197

Represented by Teemu Griffiths

Ended

KEMAQUA

Managing director · since 22 septembre 2008 · until 18 janvier 2017 · 0899.704.197

Represented by Teemu Griffiets

Ended

Raymonde Ernes

Director · since 30 mai 2008 · until 30 mai 2014

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares19/03/2026
CAPITAL, ACTIONS
PDF
Mandates01/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates26/08/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates25/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates13/12/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates11/05/2022
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates22/11/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates06/10/2017
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025207,2 k €↑
2024
Annual accounts 2024205,6 k €↑
2023
Annual accounts 2023194,8 k €↑
2022
Annual accounts 2022103,5 k €↑
2021
Annual accounts 2021-20,8 k €↓
2015
Annual accounts 2015-14,7 k €↓
2014
Annual accounts 2014552,1 k €↑
2013
Annual accounts 2013-955 k €↓
2012
Annual accounts 201227,5 k €↑
2011
Annual accounts 201124,3 k €↓
2010
Annual accounts 201065,4 k €↑
2009
Annual accounts 200934,5 k €↓
2008
Annual accounts 200849 k €↓
2007
Annual accounts 200775,9 k €↑
2006
Annual accounts 2006-16,8 k €
03/11/1965
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Belgostar

Overview

What does Belgostar do?

Trend over 15 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline