ACTIVE

BELFAR

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Financial year 2025 · closed on 30/06/2025

Net result

-17,5 k €

-107.6% YoY

Gross margin

-5,3 k €

-102.2% YoY

Equity

3,2 M €

-0.6% YoY

What does BELFAR do?

BELFAR is a Public limited company incorporated in 1991. Its main activity is: Activities of holding companies. Its registered office is in Zemst.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0444.292.068

Incorporation

24/05/1991

Legal form

Public limited company

Registered office

Hertevoetweg 34
1982 Zemst · FlandreSee on map

Contributed capital

483 392,37 €

Latest accounts

30/06/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-5,3 k €	-102%	245 k €	+194%	83,4 k €	+267%	22,7 k €	+91.0%	11,9 k €	+111%	-110,8 k €	-330%	-25,8 k €	-554%	5,7 k €	-92.1%	71,5 k €	+48.0%	48,3 k €	+8156%	-599,8 €	+99.3%	-84 k €	-215%	73 k €	-24.8%	97 k €	+2.4%	94,8 k €	-3.6%	98,3 k €	+1.6%	96,8 k €	+9.4%	88,4 k €
EBITDA	-6,3 k €	-103%	244 k €	+345%	54,8 k €	+151%	21,9 k €	+83.7%	11,9 k €	+111%	-110,8 k €	-330%	-25,8 k €	-651%	4,7 k €	-93.5%	71,5 k €	+48.0%	48,3 k €	+8156%	-599,8 €	+99.3%	-84 k €	-215%	73 k €	-24.8%	97 k €	+2.4%	94,8 k €	-3.6%	98,3 k €	+1.6%	96,7 k €	+9.4%	88,4 k €
Operating result	-6,3 k €	-103%	244 k €	+345%	54,8 k €	+151%	21,9 k €	+83.7%	11,9 k €	+111%	-110,8 k €	-330%	-25,8 k €	-651%	4,7 k €	-93.5%	71,5 k €	+48.0%	48,3 k €	+8156%	-599,8 €	+99.3%	-84 k €	-215%	73 k €	-24.8%	97 k €	+2.4%	94,8 k €	-3.6%	98,3 k €	+1.6%	96,7 k €	+9.4%	88,4 k €
Net result	-17,5 k €	-108%	229,4 k €	+688%	29,1 k €	+486%	5 k €	+250%	-3,3 k €	-102%	165,4 k €	+375%	-60,2 k €	-91.9%	-31,4 k €	-189%	35,4 k €	+41.3%	25,1 k €	+178%	-32,1 k €	+68.3%	-101,2 k €	-598%	20,3 k €	-2.4%	20,8 k €	+2.6%	20,3 k €	-28.8%	28,5 k €	-94.2%	487,5 k €	+546%	75,4 k €
Balance sheet
Equity	3,2 M €	-0.6%	3,2 M €	+7.8%	2,9 M €	+1.0%	2,9 M €	+0.2%	2,9 M €	-0.9%	2,9 M €	+6.0%	2,8 M €	-2.1%	2,8 M €	-1.1%	2,9 M €	+1.3%	2,8 M €	+0.9%	2,8 M €	-1.1%	2,8 M €	-3.4%	2,9 M €	+0.7%	2,9 M €	+0.7%	2,9 M €	+0.7%	2,9 M €	+1.0%	2,8 M €	+48.1%	1,9 M €
Total assets	4,3 M €	-0.4%	4,4 M €	-1.5%	4,4 M €	-4.0%	4,6 M €	+2.7%	4,5 M €	-1.5%	4,5 M €	+0.2%	4,5 M €	+0.6%	4,5 M €	-1.0%	4,6 M €	-0.0%	4,6 M €	+1.3%	4,5 M €	+5.4%	4,3 M €	-0.4%	4,3 M €	+2.0%	4,2 M €	+2.0%	4,1 M €	+1.6%	4,1 M €	+0.8%	4 M €	+31.6%	3,1 M €
Cash	60,1 k €	+29.0%	46,6 k €	-13.9%	54,1 k €	-76.8%	233 k €	+50.1%	155,2 k €	-38.0%	250,1 k €	+165%	94,4 k €	-23.4%	123,3 k €	+11.0%	111 k €	-2.1%	113,4 k €	-7.6%	122,7 k €	+5.6%	116,2 k €	-69.8%	384,6 k €	+80.6%	212,9 k €	+47.6%	144,2 k €	+117%	66,5 k €	-64.9%	189,5 k €	+42.0%	133,5 k €
Debts	1,2 M €	-0.0%	1,2 M €	-20.0%	1,5 M €	-12.8%	1,7 M €	+7.5%	1,6 M €	-2.6%	1,6 M €	-8.9%	1,8 M €	+5.2%	1,7 M €	-0.9%	1,7 M €	-2.1%	1,7 M €	+2.1%	1,7 M €	+18.2%	1,4 M €	+6.3%	1,4 M €	+5.1%	1,3 M €	+5.0%	1,2 M €	+3.7%	1,2 M €	+0.3%	1,2 M €	+3.5%	1,1 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 10 ended

Active mandates

Dirk Vandeputte

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

Max Vandeputte

Director · since 20 décembre 2023 · until 20 décembre 2029

Active

Stefan Vandeputte

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

Tom Vandeputte

Director · since 20 décembre 2023 · until 20 décembre 2029

Active

Ended mandates

Max Vandeputte

Director · since 21 décembre 2022 · until 09 décembre 2025

Ended

Tom Vandeputte

Director · since 21 décembre 2022 · until 09 décembre 2025

Ended

Dirk Vandeputte

Managing director · since 09 décembre 2019 · until 09 décembre 2025

Ended

Stefan Vandeputte

Managing director · since 09 décembre 2019 · until 09 décembre 2025

Ended

At this address

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PULLARIS II● Active	0845.636.102
V12● Active	0894.457.289

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	19/01/2026	27/01/2025	26/01/2024	26/01/2023	28/01/2022	28/01/2021
General meeting	08/12/2025	09/12/2024	11/12/2023	12/12/2022	13/12/2021	14/12/2020
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	08/12/2025	19/01/2026	Dutch	PDF
Abridged model	30/06/2024	09/12/2024	27/01/2025	Dutch	PDF
Abridged model	30/06/2023	11/12/2023	26/01/2024	Dutch	PDF
Abridged model	30/06/2022	12/12/2022	26/01/2023	Dutch	PDF
Abridged model	30/06/2021	13/12/2021	28/01/2022	Dutch	PDF
Abridged model	30/06/2020	14/12/2020	28/01/2021	Dutch	PDF
Abridged model	30/06/2019	09/12/2019	09/01/2020	Dutch	PDF
Abridged model	30/06/2018	10/12/2018	23/01/2019	Dutch	PDF
Abridged model	30/06/2017	11/12/2017	15/12/2017	Dutch	PDF
Abridged model	30/06/2016	12/12/2016	16/01/2017	Dutch	PDF
Abridged model	30/06/2015	14/12/2015	14/01/2016	Dutch	PDF
Abridged model	30/06/2014	08/12/2014	16/12/2014	Dutch	PDF
Abridged model	30/06/2013	09/12/2013	13/02/2014	Dutch	PDF
Abridged model	30/06/2012	10/12/2012	08/02/2013	Dutch	PDF
Abridged model	30/06/2011	12/12/2011	15/02/2012	Dutch	PDF
Abridged model	30/06/2010	13/12/2010	31/01/2011	Dutch	PDF
Abridged model	30/06/2009	14/12/2009	08/02/2010	Dutch	PDF
Abridged model	30/06/2008	08/12/2008	13/02/2009	Dutch	PDF
Abridged model	30/06/2007	10/12/2007	31/01/2008	Dutch	PDF
Abridged model	30/06/2006	11/12/2006	16/01/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/06/2025 · 4 active · 10 ended

Active mandates

Dirk Vandeputte

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

Max Vandeputte

Director · since 20 décembre 2023 · until 20 décembre 2029

Active

Stefan Vandeputte

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

Tom Vandeputte

Director · since 20 décembre 2023 · until 20 décembre 2029

Active

Ended mandates

Max Vandeputte

Director · since 21 décembre 2022 · until 09 décembre 2025

Ended

Tom Vandeputte

Director · since 21 décembre 2022 · until 09 décembre 2025

Ended

Dirk Vandeputte

Managing director · since 09 décembre 2019 · until 09 décembre 2025

Ended

Stefan Vandeputte

Managing director · since 09 décembre 2019 · until 09 décembre 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/04/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates04/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Registered office10/05/2013
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares23/01/2012
KAPITAAL - AANDELEN
PDF
Mandates14/05/2008
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/05/2005
KAPITAAL - AANDELEN - DIVERSEN - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-17,5 k €↓
2024
Annual accounts 2024229,4 k €↑
2023
Annual accounts 202329,1 k €↑
2022
Annual accounts 20225 k €↑
2021
Annual accounts 2021-3,3 k €↓
2019
Annual accounts 2019165,4 k €↑
2018
Annual accounts 2018-60,2 k €↓
2017
Annual accounts 2017-31,4 k €↓
2016
Annual accounts 201635,4 k €↑
2015
Annual accounts 201525,1 k €↑
2014
Annual accounts 2014-32,1 k €↑
2013
Annual accounts 2013-101,2 k €↓
2012
Annual accounts 201220,3 k €↓
2011
Annual accounts 201120,8 k €↑
2010
Annual accounts 201020,3 k €↓
2009
Annual accounts 200928,5 k €↓
2008
Annual accounts 2008487,5 k €↑
2007
Annual accounts 200775,4 k €
24/05/1991
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

BELFAR

Overview

What does BELFAR 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

Similar companies

Timeline