BELSEC
0415.322.128 · rovalta.com · 23/09/2026
ACTIVE
BELSEC
Financial year 2025 · closed on 31/12/2025
Net result
118,2 k €
-39.1% YoY
Gross margin
405,4 k €
-25.8% YoY
Equity
195,6 k €
+2.5% YoY
Workforce
3,7 ETP
0.0% YoY
Overview
What does BELSEC do?
BELSEC is a Private limited company incorporated in 1975. Its main activity is: Electrical installation. Its registered office is in Mol. It employs on average 3,7 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0415.322.128
Incorporation
25/08/1975
Legal form
Private limited company
Registered office
Wolfsbos 5
2400 Mol · FlandreSee on map
2400 Mol · FlandreSee on map
Contributed capital
75 000,00 €
Latest accounts
31/12/2025
Average workforce
3,7 ETP
Activities (NACE)
Joint committees (4)
- 149
- 14901
- 200
- 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
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Financials
Trend over 20 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 405,4 k € | -25.8% | 546,6 k € | +29.2% | 422,9 k € | +15.7% | 365,5 k € | +3.4% | 353,5 k € | -3.3% | 365,8 k € | +2.8% | 355,9 k € | -2.4% | 364,7 k € | -12.5% | 416,7 k € | +19.0% | 350,1 k € | +17.4% | 298,2 k € | -25.1% | 397,9 k € | +39.4% | 285,5 k € | -5.3% | 301,3 k € | -15.1% | 354,8 k € | -3.7% | 368,5 k € | +38.2% | 266,5 k € | -17.6% | 323,4 k € | +9.4% | 295,6 k € | +14.5% | 258,1 k € |
| EBITDA | 177,1 k € | -17.0% | 213,5 k € | +11.2% | 192 k € | +17.3% | 163,8 k € | +3.0% | 159,1 k € | -12.8% | 182,4 k € | +12.1% | 162,7 k € | -11.5% | 183,7 k € | -18.2% | 224,6 k € | +27.5% | 176,3 k € | +44.7% | 121,8 k € | -36.9% | 193,1 k € | +171% | 71,3 k € | +0.8% | 70,7 k € | -25.7% | 95,2 k € | -10.7% | 106,6 k € | +67.1% | 63,8 k € | -51.4% | 131,1 k € | +28.7% | 101,8 k € | +56.7% | 65 k € |
| Operating result | 158,6 k € | -42.3% | 274,7 k € | +302% | 68,4 k € | -54.6% | 150,8 k € | +7.9% | 139,7 k € | -9.3% | 154,1 k € | +27.0% | 121,4 k € | -19.6% | 150,9 k € | -20.2% | 189,2 k € | +30.0% | 145,6 k € | +35.0% | 107,8 k € | -37.6% | 172,8 k € | +269% | 46,8 k € | -19.1% | 57,9 k € | -23.6% | 75,8 k € | -37.0% | 120,3 k € | +181% | 42,8 k € | -38.8% | 69,9 k € | -17.8% | 85 k € | +81.4% | 46,9 k € |
| Net result | 118,2 k € | -39.1% | 194,1 k € | +288% | 50 k € | -56.6% | 115,2 k € | +13.0% | 101,9 k € | -11.5% | 115,1 k € | +34.5% | 85,6 k € | -21.6% | 109,2 k € | -12.2% | 124,4 k € | +17.9% | 105,5 k € | +11.6% | 94,6 k € | -20.0% | 118,2 k € | +236% | 35,2 k € | -14.0% | 40,9 k € | -37.3% | 65,2 k € | -6.6% | 69,8 k € | +119% | 31,8 k € | -44.5% | 57,3 k € | +13.8% | 50,4 k € | +85.0% | 27,2 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 195,6 k € | +2.5% | 190,8 k € | +0.1% | 190,6 k € | +24.3% | 153,3 k € | -53.3% | 328 k € | +0.3% | 327,1 k € | +0.0% | 327 k € | +0.2% | 326,4 k € | +1.3% | 322,3 k € | +8.2% | 297,9 k € | +22.9% | 242,4 k € | -48.9% | 474,1 k € | -10.9% | 532,1 k € | +7.1% | 497 k € | +9.0% | 456,1 k € | +16.7% | 390,8 k € | +21.8% | 321 k € | +11.0% | 289,2 k € | +24.7% | 231,9 k € | +27.7% | 181,5 k € |
| Total assets | 561 k € | -3.9% | 583,9 k € | -38.4% | 948,5 k € | +103% | 466,6 k € | -20.7% | 588 k € | -0.1% | 588,4 k € | -7.5% | 636,2 k € | +2.9% | 618,4 k € | -6.9% | 664,4 k € | +25.2% | 530,5 k € | -2.1% | 541,8 k € | -16.7% | 650,7 k € | -9.9% | 721,9 k € | +5.8% | 682,2 k € | +4.2% | 655 k € | +8.2% | 605,3 k € | +18.6% | 510,5 k € | +4.1% | 490,6 k € | +7.6% | 456,1 k € | -1.0% | 460,8 k € |
| Cash | 164,8 k € | -11.7% | 186,5 k € | +61.2% | 115,7 k € | -4.1% | 120,7 k € | +63.3% | 73,9 k € | -63.9% | 204,7 k € | +37.6% | 148,8 k € | -29.0% | 209,6 k € | +36.1% | 154 k € | +34.0% | 115 k € | -38.1% | 185,8 k € | -34.3% | 282,7 k € | -15.0% | 332,6 k € | +21.3% | 274,2 k € | +29.1% | 212,4 k € | +3.2% | 205,8 k € | +56.9% | 131,2 k € | -45.4% | 240,5 k € | +154% | 94,7 k € | +30.2% | 72,7 k € |
| Debts | 365,4 k € | -7.1% | 393,1 k € | -41.6% | 673 k € | +115% | 313,2 k € | +20.5% | 260 k € | -0.5% | 261,3 k € | -13.0% | 300,3 k € | +6.3% | 282,4 k € | -17.5% | 342,2 k € | +47.1% | 232,6 k € | -22.1% | 298,7 k € | +71.1% | 174,6 k € | -6.2% | 186,2 k € | +3.0% | 180,7 k € | -7.0% | 194,3 k € | -7.0% | 208,9 k € | +10.2% | 189,5 k € | -5.9% | 201,4 k € | -10.2% | 224,3 k € | -8.6% | 245,4 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | 3,7 ETP | 0.0% | 3,7 ETP | -2.6% | 3,8 ETP | +15.2% | 3,3 ETP | +10.0% | 3,0 ETP | 0.0% | 3,0 ETP | -3.2% | 3,1 ETP | -6.1% | 3,3 ETP | +6.5% | 3,1 ETP | +3.3% | 3,0 ETP | 0.0% | 3,0 ETP | -21.1% | 3,8 ETP | -5.0% | 4,0 ETP | +5.3% | 3,8 ETP | -36.7% | 6,0 ETP | +1.7% | 5,9 ETP | +18.0% | 5,0 ETP | -16.7% | 6,0 ETP | +33.3% | 4,5 ETP | 0.0% | 4,5 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 1 M€ and 2,5 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 5 ended
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
TPS Vastgoed België● Active | 0804.724.569 |
VIGILANCE● Active | 0628.593.355 |
Financials
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 | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 20/07/2026 | 01/07/2025 | 22/07/2024 | 30/06/2023 | 01/07/2022 | 16/07/2021 |
| General meeting | 01/06/2026 | 01/06/2025 | 01/06/2024 | 01/06/2023 | 01/06/2022 | 01/06/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 01/06/2026 | 20/07/2026 | Dutch | |
| Abridged model | 31/12/2024 | 01/06/2025 | 01/07/2025 | Dutch | |
| Abridged model | 31/12/2023 | 01/06/2024 | 22/07/2024 | Dutch | |
| Abridged model | 31/12/2022 | 01/06/2023 | 30/06/2023 | Dutch | |
| Abridged model | 31/12/2021 | 01/06/2022 | 01/07/2022 | Dutch | |
| Abridged model | 31/12/2020 | 01/06/2021 | 16/07/2021 | Dutch | |
| Abridged model | 31/12/2019 | 02/06/2020 | 09/11/2020 | Dutch | |
| Abridged model | 31/12/2018 | 01/06/2019 | 22/07/2019 | Dutch | |
| Abridged model | 31/12/2017 | 01/06/2018 | 29/08/2018 | Dutch | |
| Abridged model | 31/12/2016 | 01/06/2017 | 28/08/2017 | Dutch | |
| Abridged model | 31/12/2015 | 01/06/2016 | 30/06/2016 | Dutch | |
| Abridged model | 31/12/2014 | 01/06/2015 | 15/06/2015 | Dutch | |
| Abridged model | 31/12/2013 | 02/06/2014 | 08/08/2014 | Dutch | |
| Abridged model | 31/12/2012 | 01/06/2013 | 01/07/2013 | Dutch | |
| Abridged model | 31/12/2011 | 01/06/2012 | 03/07/2012 | Dutch | |
| Abridged model | 31/12/2010 | 01/06/2011 | 31/08/2011 | Dutch | |
| Abridged model | 31/12/2009 | 01/06/2010 | 29/07/2010 | Dutch | |
| Abridged model | 31/12/2008 | 02/06/2009 | 17/07/2009 | Dutch | |
| Abridged model | 31/12/2007 | 02/06/2008 | 14/07/2008 | Dutch | |
| Abridged model | 31/12/2006 | 18/06/2007 | 14/08/2007 | Dutch |
Valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 5 ended
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025118,2 k €↓
- 2024Annual accounts 2024194,1 k €↑
- 2023Annual accounts 202350 k €↓
- 2022Annual accounts 2022115,2 k €↑
- 2021Annual accounts 2021101,9 k €↓
- 2020Annual accounts 2020115,1 k €↑
- 2019Annual accounts 201985,6 k €↓
- 2018Annual accounts 2018109,2 k €↓
- 2017Annual accounts 2017124,4 k €↑
- 2016Annual accounts 2016105,5 k €↑
- 2015Annual accounts 201594,6 k €↓
- 2014Annual accounts 2014118,2 k €↑
- 2013Annual accounts 201335,2 k €↓
- 2012Annual accounts 201240,9 k €↓
- 2011Annual accounts 201165,2 k €↓
- 2010Annual accounts 201069,8 k €↑
- 2009Annual accounts 200931,8 k €↓
- 2008Annual accounts 200857,3 k €↑
- 2007Annual accounts 200750,4 k €↑
- 2006Annual accounts 200627,2 k €
- 25/08/1975IncorporationPrivate limited company