ACTIVE

BELGIAN CYCLING FACTORY

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Financial year 2025 · closed on 31/12/2025

Net result

-2,2 M €

-1299.2% YoY

Revenue

62,5 M €

+34.5% YoY

Equity

15,8 M €

-12.1% YoY

Workforce

92,3 ETP

+0.7% YoY

What does BELGIAN CYCLING FACTORY do?

BELGIAN CYCLING FACTORY is a Public limited company incorporated in 1990. Its main activity is: Manufacture of bicycles and invalid carriages. Its registered office is in Beringen. It employs on average 92,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0441.535.783

Incorporation

30/08/1990

Legal form

Public limited company

Registered office

Beverlosesteenweg 85
3583 Beringen · FlandreSee on map

Contributed capital

4 062 000,00 €

Latest accounts

31/12/2025

Average workforce

92,3 ETP

Activities (NACE)

30920Manufacture of bicycles and invalid carriages· main 30920Manufacture of bicycles and invalid carriages 35420Electricity, gas, steam and air conditioning supply

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2007		2006
Income statement
Revenue	62,5 M €	+34.5%	46,5 M €	-18.2%	56,8 M €	+24.5%	45,6 M €	+22.4%	37,3 M €	+1.3%	36,8 M €	-3.1%	38 M €	+15.6%	32,8 M €	-8.7%	36 M €	-27.0%	49,3 M €	+44.5%	34,1 M €	+15.2%	29,6 M €	+22.5%	24,2 M €	+1.6%	23,8 M €	+21.8%	19,5 M €	-28.3%	27,2 M €	+68.9%	16,1 M €	+19.2%	13,5 M €
EBITDA	1,9 M €	-32.0%	2,8 M €	-62.5%	7,5 M €	+4.0%	7,3 M €	+74.2%	4,2 M €	+74.6%	2,4 M €	-14.4%	2,8 M €	+47.1%	1,9 M €	-4.5%	2 M €	-1.0%	2 M €	+14.6%	1,7 M €	+20.7%	1,4 M €	+9.2%	1,3 M €	-4.2%	1,4 M €	-5.7%	1,5 M €	+33.1%	1,1 M €	-40.2%	1,8 M €	-3.0%	1,9 M €
Operating result	-688,1 k €	-158%	1,2 M €	-75.4%	4,9 M €	-12.3%	5,5 M €	+62.2%	3,4 M €	+805%	377,2 k €	-53.0%	802,8 k €	+131%	347 k €	-47.3%	659 k €	+13.5%	580,5 k €	-38.8%	948,3 k €	+25.9%	753,4 k €	+15.4%	652,6 k €	-22.0%	836,9 k €	-25.4%	1,1 M €	+44.9%	774,2 k €	-54.9%	1,7 M €	+3.2%	1,7 M €
Net result	-2,2 M €	-1299%	181,2 k €	-92.1%	2,3 M €	-45.2%	4,2 M €	+41.8%	3 M €	+1140%	-284,4 k €	-164%	444,4 k €	+467%	78,3 k €	-85.7%	548,7 k €	-32.9%	817,6 k €	+5.3%	776,6 k €	+29.6%	599,3 k €	+66.8%	359,4 k €	-38.8%	587,3 k €	-41.2%	998,6 k €	+1354%	68,7 k €	-93.3%	1 M €	+12.1%	913,4 k €
Balance sheet
Equity	15,8 M €	-12.1%	18 M €	+1.0%	17,8 M €	+14.8%	15,5 M €	+37.1%	11,3 M €	+35.4%	8,4 M €	-10.4%	9,3 M €	+4.8%	8,9 M €	-14.6%	10,4 M €	+5.6%	9,9 M €	+9.0%	9,1 M €	+111%	4,3 M €	-37.9%	6,9 M €	+5.5%	6,5 M €	+9.8%	6 M €	+20.1%	5 M €	+1.4%	4,9 M €	+26.5%	3,9 M €
Total assets	52 M €	+26.9%	41 M €	+1.6%	40,3 M €	+8.1%	37,3 M €	+69.6%	22 M €	+15.6%	19 M €	-22.9%	24,7 M €	-5.2%	26 M €	+20.5%	21,6 M €	+4.9%	20,6 M €	+20.4%	17,1 M €	+5.9%	16,2 M €	-3.2%	16,7 M €	+3.2%	16,2 M €	+6.3%	15,2 M €	+34.7%	11,3 M €	+32.1%	8,6 M €	+9.6%	7,8 M €
Cash	893,7 k €	-7.8%	969,7 k €	-3.0%	1 M €	-20.1%	1,3 M €	+22.1%	1 M €	-1.7%	1 M €	-55.0%	2,3 M €	+52.3%	1,5 M €	+35.6%	1,1 M €	-7.5%	1,2 M €	+41.0%	861,1 k €	+113%	404,4 k €	+16.7%	346,6 k €	-66.9%	1 M €	+429%	198,1 k €	-56.5%	455 k €	-36.2%	713 k €	-56.6%	1,6 M €
Debts	35,3 M €	+56.5%	22,6 M €	+1.7%	22,2 M €	+3.8%	21,4 M €	+106%	10,4 M €	-0.8%	10,5 M €	-30.8%	15,1 M €	-10.8%	17 M €	+54.0%	11 M €	+4.8%	10,5 M €	+35.3%	7,8 M €	-32.7%	11,6 M €	+23.9%	9,3 M €	+10.7%	8,4 M €	-6.2%	9 M €	+47.4%	6,1 M €	+80.4%	3,4 M €	-12.1%	3,8 M €
Other
Workforce	92,3 ETP	+0.7%	91,7 ETP	+1.0%	90,8 ETP	+24.4%	73,0 ETP	+0.8%	72,4 ETP	+4.6%	69,2 ETP	+3.6%	66,8 ETP	-3.2%	69,0 ETP	-4.3%	72,1 ETP	+0.3%	71,9 ETP	+31.2%	54,8 ETP	+25.4%	43,7 ETP	+5.6%	41,4 ETP	-1.9%	42,2 ETP	-2.8%	43,4 ETP	+3.1%	42,1 ETP	+12.0%	37,6 ETP	+9.9%	34,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 28 ended

Active mandates

Belgian Cycling Club

Director · since 30 juin 2025 · until 29 mai 2026 · 0436.098.142

Represented by Lambeens SOFIE

Active

BIKEVILLE

Director · since 28 mars 2022 · until 29 mai 2026 · 0598.721.117

Represented by Tom VAN BAEL

Active

Belgian Cycling Group

Managing director · since 29 mai 2020 · until 29 mai 2026 · 0471.373.478

Represented by Jochim Aerts

Active

Ended mandates

Fico - Fierkens Consulting BV

Director · since 28 juin 2024 · until 30 juin 2025

Represented by Eugene FIERKENS

Ended

BIKEVILLE

Director · since 28 mars 2022 · until 29 mai 2026 · 0598.721.117

Represented by Tom Van Bael

Ended

VELOMA

Director · since 23 décembre 2020 · until 28 mars 2022 · 0679.710.474

Represented by Tom Van Bael

Ended

VELOMA

Director · since 23 décembre 2020 · until 23 décembre 2026 · 0679.710.474

Represented by VAN BAEL Tom

Ended

At this address

Other companies at this address

Company	CBE no.
BELGIAN CYCLING GROUP● Active	0685.892.542
RACE SOLUTION● Liquidation	0473.667.727

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	19/06/2026	15/07/2025	24/07/2024	27/07/2023	25/07/2022	20/07/2021
General meeting	29/05/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/05/2026	19/06/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	15/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	24/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	27/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	25/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	20/07/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	07/07/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	25/07/2019	Dutch	PDF
Full model	31/12/2017	25/05/2018	26/06/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	09/08/2017	Dutch	PDF
Full model	31/12/2015	17/06/2016	31/08/2016	Dutch	PDF
Full model	31/08/2014	30/01/2015	27/02/2015	Dutch	PDF
Full model	31/08/2013	27/12/2013	31/03/2014	Dutch	PDF
Full model	31/08/2012	25/01/2013	30/04/2013	Dutch	PDF
Full model	31/08/2011	27/01/2012	04/07/2012	Dutch	PDF
Full model	31/08/2010	28/01/2011	31/03/2011	Dutch	PDF
Full model	31/08/2009	28/02/2010	20/05/2010	Dutch	PDF
Full model	31/12/2007	25/06/2008	29/08/2008	Dutch	PDF
Full model	31/12/2006	25/06/2007	28/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 31/12/2025 · 3 active · 28 ended

Active mandates

Belgian Cycling Club

Director · since 30 juin 2025 · until 29 mai 2026 · 0436.098.142

Represented by Lambeens SOFIE

Active

BIKEVILLE

Director · since 28 mars 2022 · until 29 mai 2026 · 0598.721.117

Represented by Tom VAN BAEL

Active

Belgian Cycling Group

Managing director · since 29 mai 2020 · until 29 mai 2026 · 0471.373.478

Represented by Jochim Aerts

Active

Ended mandates

Fico - Fierkens Consulting BV

Director · since 28 juin 2024 · until 30 juin 2025

Represented by Eugene FIERKENS

Ended

BIKEVILLE

Director · since 28 mars 2022 · until 29 mai 2026 · 0598.721.117

Represented by Tom Van Bael

Ended

VELOMA

Director · since 23 décembre 2020 · until 28 mars 2022 · 0679.710.474

Represented by Tom Van Bael

Ended

VELOMA

Director · since 23 décembre 2020 · until 23 décembre 2026 · 0679.710.474

Represented by VAN BAEL Tom

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares09/02/2021
DOEL - KAPITAAL - AANDELEN
PDF
Mandates22/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other27/12/2019
BENAMING
PDF
Mandates16/10/2019
ONTSLAGEN - BENOEMINGEN
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 2025-2,2 M €↓
30/06/2025
nominationBelgian Cycling Club BV — bestuurder
2024
Annual accounts 2024181,2 k €↓
28/06/2024
nominationFico - Fierkens Consulting BV — bestuurder
28/06/2024
nominationFINVISION BEDRIJFSREVISOREN HASSELT BV — commissaris
2023
Annual accounts 20232,3 M €↓
2022
Annual accounts 20224,2 M €↑
28/03/2022
nominationBIKEVILLE NV — bestuurder
2021
Annual accounts 20213 M €↑
2020
Annual accounts 2020-284,4 k €↓
2019
Annual accounts 2019444,4 k €↑
2019
Name changeBelgian Cycling Factory
2018
Annual accounts 201878,3 k €↓
2016
Annual accounts 2016548,7 k €↓
2015
Annual accounts 2015817,6 k €↑
2014
Annual accounts 2014776,6 k €↑
2013
Annual accounts 2013599,3 k €↑
2012
Annual accounts 2012359,4 k €↓
2011
Annual accounts 2011587,3 k €↓
2010
Annual accounts 2010998,6 k €↑
2009
Annual accounts 200968,7 k €↓
2007
Annual accounts 20071 M €↑
2006
Annual accounts 2006913,4 k €
2006
Name changeRACE - PRODUCTIONS
30/08/1990
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

BELGIAN CYCLING FACTORY

Overview

What does BELGIAN CYCLING FACTORY do?

Trend over 18 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

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Timeline