ACTIVE

BAELUS

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Financial year 2025 · closed on 31/12/2025

Net result

21,7 k €

+63.8% YoY

Gross margin

66 k €

+13.6% YoY

Equity

550 k €

+4.1% YoY

What does BAELUS do?

BAELUS is a Public limited company incorporated in 1992. Its registered office is in Arendonk.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.378.648

Incorporation

11/05/1992

Legal form

Public limited company

Registered office

Reenstraat 35
2370 Arendonk · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

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 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	66 k €	+13.6%	58 k €	-24.1%	76,5 k €	+27.6%	60 k €	+3.9%	57,7 k €	+7.2%	53,9 k €	-82.7%	310,6 k €	+6.6%	291,2 k €	+18.1%	246,6 k €	+19.6%	206,2 k €	+3.2%	199,8 k €	-1.3%	202,5 k €	-2.4%	207,4 k €	+85.6%	111,8 k €	+15350%	-733 €	+93.9%	-12 k €	-239%	-3,5 k €	+98.4%	-218,5 k €	-436%	65 k €	-24.4%	86,1 k €
EBITDA	57,7 k €	+14.5%	50,4 k €	-27.1%	69,1 k €	+30.0%	53,1 k €	+4.0%	51,1 k €	+7.9%	47,3 k €	-83.8%	292,7 k €	+41.1%	207,4 k €	+31.4%	157,9 k €	+11.5%	141,6 k €	+4.5%	135,5 k €	-2.5%	139 k €	-2.1%	142 k €	+79.6%	79,1 k €	+10148%	-787 €	+93.9%	-12,9 k €	-259%	-3,6 k €	+98.6%	-260,6 k €	-12192%	2,2 k €	-89.8%	21,2 k €
Operating result	35,6 k €	+25.0%	28,5 k €	-40.3%	47,7 k €	+149%	19,1 k €	+9.8%	17,4 k €	+27.5%	13,7 k €	-94.7%	259,1 k €	+75.8%	147,4 k €	+28.7%	114,5 k €	+48.0%	77,4 k €	+5.3%	73,5 k €	-9.7%	81,4 k €	-8.1%	88,6 k €	+161%	34 k €	+4418%	-787 €	+93.9%	-12,9 k €	-4.0%	-12,4 k €	+95.4%	-269,4 k €	-857%	-28,1 k €	-213%	-9 k €
Net result	21,7 k €	+63.8%	13,2 k €	-51.4%	27,2 k €	+2696%	-1 k €	-127%	3,9 k €	+443%	723,5 €	-99.6%	161,9 k €	+88.1%	86,1 k €	+54.7%	55,7 k €	+103%	27,4 k €	+24.7%	22 k €	-39.0%	36 k €	-26.1%	48,7 k €	+142%	20,1 k €	+2353%	-893 €	+94.1%	-15,1 k €	-20.5%	-12,6 k €	+52.1%	-26,2 k €	+29.8%	-37,4 k €	-85.5%	-20,1 k €
Balance sheet
Equity	550 k €	+4.1%	528,3 k €	+2.6%	515,1 k €	+5.6%	487,9 k €	-0.2%	488,9 k €	+0.8%	485 k €	+0.1%	484,3 k €	+50.2%	322,3 k €	+36.5%	236,2 k €	+30.8%	180,6 k €	+17.9%	153,2 k €	+16.7%	131,2 k €	+37.8%	95,2 k €	+105%	46,5 k €	+76.4%	26,3 k €	-3.3%	27,2 k €	-35.7%	42,4 k €	-22.9%	54,9 k €	-32.3%	81,2 k €	-31.5%	118,5 k €
Total assets	713,2 k €	-3.8%	741,8 k €	-4.0%	772,8 k €	-5.1%	813,9 k €	-5.3%	859,8 k €	-22.0%	1,1 M €	-10.4%	1,2 M €	-16.3%	1,5 M €	+3.6%	1,4 M €	+1.3%	1,4 M €	+0.2%	1,4 M €	-0.3%	1,4 M €	-1.4%	1,4 M €	+4.2%	1,4 M €	+1641%	78,4 k €	-8.3%	85,5 k €	-34.4%	130,5 k €	-46.6%	244,3 k €	-49.7%	486 k €	-7.3%	524,3 k €
Cash	13,6 k €	+199%	4,6 k €	+33624%	13,5 €	-100.0%	129,2 k €	-13.3%	148,9 k €	-74.6%	587,2 k €	-13.7%	680,7 k €	+233%	204,5 k €	+37.1%	149,2 k €	+24.7%	119,6 k €	+137%	50,4 k €	+75.9%	28,7 k €	-33.7%	43,2 k €	+1.7%	42,5 k €		–		–		933 €	+77.4%	526 €	-66.4%	1,6 k €	-19.3%	1,9 k €
Debts	121,7 k €	-34.5%	185,7 k €	-23.4%	242,4 k €	-22.0%	310,9 k €	-16.2%	370,8 k €	-40.0%	617,6 k €	-17.3%	746,5 k €	-32.9%	1,1 M €	-2.1%	1,1 M €	-6.9%	1,2 M €	-2.0%	1,2 M €	-2.0%	1,3 M €	-3.9%	1,3 M €	+1.0%	1,3 M €	+2417%	52,1 k €	-10.7%	58,3 k €	-33.8%	88,1 k €	-53.5%	189,4 k €	-53.1%	404,2 k €	-0.1%	404,7 k €
Other
Workforce	–		–		–		–		–		–		–		2,5 ETP	0.0%	2,5 ETP	+25.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	+100%	1,0 ETP		–		–		–		1,3 ETP	-40.9%	2,2 ETP	-4.3%	2,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 13 ended

Active mandates

Eric Baelus

Director · since 26 janvier 2026

Active

Griet Baelus

Director · since 26 janvier 2026

Active

Maria Luyten

Director · since 26 janvier 2026

Active

Ended mandates

ERIC BAELUS

Director · since 09 juin 2008

Ended

ERIK BAELUS

Director · since 09 juin 2008 · until 09 juin 2014

Ended

GRIET BAELUS

Director · since 09 juin 2008 · until 09 juin 2014

Ended

GRIET BAELUS

Director · since 09 juin 2008

Ended

At this address

Other companies at this address

Company	CBE no.
Balu● Active	0462.570.234
INNERME TRIATHLON TEAM● Active	0505.660.703

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro 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	26/06/2026	10/06/2025	03/06/2024	22/06/2023	15/06/2022	21/06/2021
General meeting	18/06/2026	07/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	18/06/2026	26/06/2026	Dutch	PDF
Micro model	31/12/2024	07/06/2025	10/06/2025	Dutch	PDF
Micro model	31/12/2023	01/06/2024	03/06/2024	Dutch	PDF
Micro model	31/12/2022	03/06/2023	22/06/2023	Dutch	PDF
Micro model	31/12/2021	04/06/2022	15/06/2022	Dutch	PDF
Abridged model	31/12/2020	05/06/2021	21/06/2021	Dutch	PDF
Abridged model	31/12/2019	06/06/2020	07/07/2020	Dutch	PDF
Abridged model	31/12/2018	01/06/2019	11/06/2019	Dutch	PDF
Abridged model	31/12/2017	02/06/2018	06/06/2018	Dutch	PDF
Abridged model	31/12/2016	03/06/2017	14/06/2017	Dutch	PDF
Abridged model	31/12/2015	04/06/2016	15/06/2016	Dutch	PDF
Abridged model	31/12/2014	06/06/2015	22/06/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	31/07/2013	05/08/2013	Dutch	PDF
Abridged model	31/12/2011	02/06/2012	20/06/2012	Dutch	PDF
Abridged model	31/12/2010	04/06/2011	08/07/2011	Dutch	PDF
Abridged model	31/12/2009	05/06/2010	01/07/2010	Dutch	PDF
Abridged model	31/12/2008	06/06/2009	16/06/2009	Dutch	PDF
Abridged model	31/12/2007	07/06/2008	25/06/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	06/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 13 ended

Active mandates

Eric Baelus

Director · since 26 janvier 2026

Active

Griet Baelus

Director · since 26 janvier 2026

Active

Maria Luyten

Director · since 26 janvier 2026

Active

Ended mandates

ERIC BAELUS

Director · since 09 juin 2008

Ended

ERIK BAELUS

Director · since 09 juin 2008 · until 09 juin 2014

Ended

GRIET BAELUS

Director · since 09 juin 2008 · until 09 juin 2014

Ended

GRIET BAELUS

Director · since 09 juin 2008

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/03/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Registered office21/02/2019
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares01/03/2012
DOEL - KAPITAAL - AANDELEN
PDF
Registered office28/04/2009
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/07/2008
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 202521,7 k €↑
2024
Annual accounts 202413,2 k €↓
2023
Annual accounts 202327,2 k €↑
2022
Annual accounts 2022-1 k €↓
2021
Annual accounts 20213,9 k €↑
2020
Annual accounts 2020723,5 €↓
2019
Annual accounts 2019161,9 k €↑
2018
Annual accounts 201886,1 k €↑
2017
Annual accounts 201755,7 k €↑
2016
Annual accounts 201627,4 k €↑
2015
Annual accounts 201522 k €↓
2014
Annual accounts 201436 k €↓
2013
Annual accounts 201348,7 k €↑
2012
Annual accounts 201220,1 k €↑
2011
Annual accounts 2011-893 €↑
2011
Name changeBaelus
2010
Annual accounts 2010-15,1 k €↓
2009
Annual accounts 2009-12,6 k €↑
2008
Annual accounts 2008-26,2 k €↑
2007
Annual accounts 2007-37,4 k €↓
2006
Annual accounts 2006-20,1 k €
2006
Name changeGRAFFITI
11/05/1992
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

BAELUS

Overview

What does BAELUS do?

Trend over 20 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