BELFAGEST
0430.846.581 · rovalta.com · 24/09/2026
ACTIVE
BELFAGEST
Financial year 2025 · closed on 31/12/2025
Net result
438,5 k €
+331.7% YoY
Gross margin
854,8 k €
+109.5% YoY
Equity
887,8 k €
+21.1% YoY
Overview
What does BELFAGEST do?
BELFAGEST is a Private limited company incorporated in 1987. Its registered office is in Chaudfontaine.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0430.846.581
Incorporation
20/03/1987
Legal form
Private limited company
Registered office
Voie de l'Air Pur 281
4052 Chaudfontaine · WallonieSee on map
4052 Chaudfontaine · WallonieSee on map
Contributed capital
18 592,01 €
Latest accounts
31/12/2025
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 | 854,8 k € | +110% | 407,9 k € | +7.9% | 378,2 k € | +12.1% | 337,3 k € | +7.6% | 313,6 k € | -4.7% | 328,9 k € | +9.0% | 301,8 k € | +10.5% | 273,1 k € | +6.8% | 255,7 k € | -0.4% | 256,7 k € | +16.2% | 221 k € | +39.1% | 158,9 k € | +26.5% | 125,5 k € | -8.0% | 136,4 k € | +40.7% | 97 k € | +10.0% | 88,2 k € | -5.4% | 93,2 k € | +1.5% | 91,8 k € | +6.9% | 85,9 k € | +8.5% | 79,2 k € |
| EBITDA | 602,2 k € | +235% | 179,6 k € | +1.1% | 177,6 k € | +5.5% | 168,4 k € | +4.1% | 161,8 k € | -10.3% | 180,5 k € | +13.7% | 158,7 k € | +16.0% | 136,9 k € | +0.4% | 136,3 k € | +7.6% | 126,7 k € | +4.6% | 121,1 k € | +55.4% | 77,9 k € | +43.4% | 54,3 k € | +2.5% | 53 k € | +13.8% | 46,6 k € | +7.1% | 43,5 k € | -14.6% | 51 k € | +28.0% | 39,8 k € | -23.8% | 52,2 k € | +35.2% | 38,6 k € |
| Operating result | 572,7 k € | +294% | 145,4 k € | +11.4% | 130,5 k € | +7.2% | 121,8 k € | -2.3% | 124,7 k € | -14.0% | 145 k € | +17.2% | 123,7 k € | +19.6% | 103,4 k € | +5.4% | 98,1 k € | +13.4% | 86,6 k € | +6.6% | 81,2 k € | +128% | 35,7 k € | +33.8% | 26,7 k € | +24.3% | 21,5 k € | -3.2% | 22,2 k € | -11.9% | 25,2 k € | -5.5% | 26,6 k € | +130% | 11,6 k € | -45.0% | 21,1 k € | +87.7% | 11,2 k € |
| Net result | 438,5 k € | +332% | 101,6 k € | +13.4% | 89,6 k € | -7.8% | 97,2 k € | +12.0% | 86,8 k € | -13.3% | 100 k € | +19.1% | 84 k € | +24.2% | 67,7 k € | +45.1% | 46,6 k € | -7.7% | 50,5 k € | -9.8% | 56 k € | +128% | 24,5 k € | +42.0% | 17,3 k € | +25.2% | 13,8 k € | +5.5% | 13,1 k € | -18.4% | 16 k € | -6.6% | 17,1 k € | +313% | 4,1 k € | -60.7% | 10,6 k € | +61.2% | 6,5 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 887,8 k € | +21.1% | 733,2 k € | +2.5% | 715,6 k € | +3.2% | 693,7 k € | +9.7% | 632,6 k € | +15.9% | 545,8 k € | +22.4% | 445,8 k € | +21.8% | 366 k € | +22.7% | 298,3 k € | +16.6% | 255,9 k € | +22.1% | 209,7 k € | +32.8% | 157,9 k € | +35.7% | 116,4 k € | +14.8% | 101,4 k € | +12.8% | 89,9 k € | +13.7% | 79,1 k € | +21.1% | 65,3 k € | +57.3% | 41,5 k € | -8.5% | 45,4 k € | +6.0% | 42,8 k € |
| Total assets | 1,4 M € | +46.5% | 955,8 k € | +5.0% | 910 k € | +3.8% | 876,9 k € | +4.9% | 836,1 k € | +11.4% | 750,3 k € | +8.5% | 691,5 k € | +7.4% | 643,9 k € | +10.0% | 585,5 k € | +8.1% | 541,8 k € | +5.8% | 512,1 k € | +11.7% | 458,4 k € | +33.7% | 342,9 k € | +1.0% | 339,6 k € | +42.8% | 237,8 k € | +11.0% | 214,2 k € | -2.7% | 220,3 k € | -3.6% | 228,4 k € | -10.3% | 254,6 k € | -5.1% | 268,3 k € |
| Cash | 921,2 k € | +375% | 194 k € | +121% | 87,8 k € | -72.6% | 320,4 k € | -36.0% | 500,7 k € | +18.3% | 423,2 k € | +24.9% | 338,8 k € | +21.2% | 279,5 k € | +29.5% | 215,9 k € | +52.7% | 141,4 k € | +91.6% | 73,8 k € | +579% | 10,9 k € | -75.9% | 45,1 k € | -40.4% | 75,8 k € | +0.0% | 75,8 k € | +5.8% | 71,7 k € | +34.3% | 53,4 k € | +26.3% | 42,3 k € | -3.5% | 43,8 k € | +53.1% | 28,6 k € |
| Debts | 432,5 k € | +94.3% | 222,6 k € | +14.5% | 194,4 k € | +6.1% | 183,2 k € | -10.0% | 203,5 k € | -0.5% | 204,5 k € | -15.8% | 242,8 k € | -11.7% | 275 k € | -3.2% | 284,2 k € | -0.2% | 284,8 k € | -5.8% | 302,4 k € | +0.6% | 300,5 k € | +32.7% | 226,5 k € | -4.9% | 238,2 k € | +63.9% | 145,4 k € | +7.6% | 135,1 k € | -12.8% | 154,9 k € | -17.1% | 186,9 k € | -9.6% | 206,8 k € | -8.3% | 225,5 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | – | – | – | – | – | – | – | – | – | – | 2,2 ETP | +37.5% | 1,6 ETP | +6.7% | 1,5 ETP | 0.0% | 1,5 ETP | +36.4% | 1,1 ETP | +22.2% | 0,9 ETP | 0.0% | 0,9 ETP | -10.0% | 1,0 ETP | -16.7% | 1,2 ETP | +20.0% | 1,0 ETP | ||||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 2,5 M€ and 5 M€
See the valuationAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
BUREAU D'ASSURANCES DUFAYS● Active | 0821.304.245 |
BUREAU DUFAYS● Active | 0441.206.577 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Micro 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 | 21/06/2026 | 05/06/2025 | 09/06/2024 | 07/07/2023 | 01/08/2022 | 30/06/2021 |
| General meeting | 01/06/2026 | 02/06/2025 | 03/06/2024 | 10/06/2023 | 30/06/2022 | 07/06/2021 |
| 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 |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 01/06/2026 | 21/06/2026 | French | |
| Micro model | 31/12/2024 | 02/06/2025 | 05/06/2025 | French | |
| Micro model | 31/12/2023 | 03/06/2024 | 09/06/2024 | French | |
| Micro model | 31/12/2022 | 10/06/2023 | 07/07/2023 | French | |
| Micro model | 31/12/2021 | 30/06/2022 | 01/08/2022 | French | |
| Micro model | 31/12/2020 | 07/06/2021 | 30/06/2021 | French | |
| Micro model | 31/12/2019 | 01/06/2020 | 25/06/2020 | French | |
| Micro model | 31/12/2018 | 03/06/2019 | 25/07/2019 | French | |
| Micro model | 31/12/2017 | 04/06/2018 | 13/06/2018 | French | |
| Micro model | 31/12/2016 | 16/06/2017 | 20/06/2017 | French | |
| Abridged model | 31/12/2015 | 17/06/2016 | 24/06/2016 | French | |
| Abridged model | 31/12/2014 | 18/06/2015 | 30/06/2015 | French | |
| Abridged model | 31/12/2013 | 19/06/2014 | 04/07/2014 | French | |
| Abridged model | 31/12/2012 | 20/06/2013 | 27/06/2013 | French | |
| Abridged model | 31/12/2011 | 21/06/2012 | 26/06/2012 | French | |
| Abridged model | 31/12/2010 | 23/06/2011 | 30/06/2011 | French | |
| Abridged model | 31/12/2009 | 24/06/2010 | 24/06/2010 | French | |
| Abridged model | 31/12/2008 | 25/06/2009 | 02/07/2009 | French | |
| Abridged model | 31/12/2007 | 26/06/2008 | 03/07/2008 | French | |
| Abridged model | 31/12/2006 | 28/06/2007 | 27/07/2007 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 2,5 M€ and 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
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates01/06/2023STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
- Registered office21/05/2012SIEGE SOCIAL - OBJET
- Capital / shares31/03/2003OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE - CAPITAL, ACTIONS
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 2025438,5 k €↑
- 2024Annual accounts 2024101,6 k €↑
- 2023Annual accounts 202389,6 k €↓
- 2022Annual accounts 202297,2 k €↑
- 2021Annual accounts 202186,8 k €↓
- 2020Annual accounts 2020100 k €↑
- 2019Annual accounts 201984 k €↑
- 2018Annual accounts 201867,7 k €↑
- 2017Annual accounts 201746,6 k €↓
- 2016Annual accounts 201650,5 k €↓
- 2015Annual accounts 201556 k €↑
- 2014Annual accounts 201424,5 k €↑
- 2013Annual accounts 201317,3 k €↑
- 2012Annual accounts 201213,8 k €↑
- 2011Annual accounts 201113,1 k €↓
- 2010Annual accounts 201016 k €↓
- 2009Annual accounts 200917,1 k €↑
- 2008Annual accounts 20084,1 k €↓
- 2007Annual accounts 200710,6 k €↑
- 2006Annual accounts 20066,5 k €
- 20/03/1987IncorporationPrivate limited company