BELRO MEDICAL
0453.278.228 · rovalta.com · 26/09/2026
ACTIVE
BELRO MEDICAL
Financial year 2025 · Closed on 31/12/2025
Net result-66,2 k €+95,3 %over 1 year
Gross margin3,4 M €-39,1 %over 1 year
Equity15,9 M €-0,4 %over 1 year
Workforce10,8 ETP-8,5 %over 1 year
Overview
Identity
Source · BCE/KBOBELRO MEDICAL is a Public limited company incorporated in 1994. Its main activity is: Activities of holding companies. Its registered office is in Waterloo. It employs on average 10,8 ETP workers (FTE).
- Legal situation
- Normal situation
- BCE/KBO no. / VAT
- BE 0453.278.228
- Incorporation
- 16/08/1994
- Legal form
- Public limited company
- Registered office
- Drève Richelle 161 box 28
1410 Waterloo · WallonieSee on map - Contributed capital
- 14 917 206,04 €
- Latest accounts
- 31/12/2025
- Average workforce
- 10,8 ETP
Activities (NACE)
Joint committees (3)
- 100
- 200
- 218
Signals
Solid equityLow riskGood liquidityHealthy social debts
Financials
Source · NBB, 20 filingsTrend over 19 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Gross margin | 3,4 M € | -39.1% | 5,6 M € | +98.8% | 2,8 M € | +16.7% | 2,4 M € | -23.1% | 3,1 M € |
| EBITDA | -364,1 k € | -45.9% | -249,6 k € | -812% | 35,1 k € | -67.3% | 107,1 k € | -89.6% | 1 M € |
| Operating result | -374,7 k € | -36.7% | -274,1 k € | -3152% | -8,4 k € | -114% | 61,4 k € | -93.8% | 994,1 k € |
| Net result | -66,2 k € | +95.3% | -1,4 M € | -1924% | 77 k € | -0.2% | 77,2 k € | -91.9% | 951,4 k € |
| Balance sheet | |||||||||
| Equity | 15,9 M € | -0.4% | 15,9 M € | +377% | 3,3 M € | +2.4% | 3,3 M € | +2.4% | 3,2 M € |
| Total assets | 18,8 M € | +2.9% | 18,2 M € | -11.6% | 20,6 M € | +6.4% | 19,4 M € | +233% | 5,8 M € |
| Cash | 1,4 M € | +28.8% | 1,1 M € | +309% | 259,3 k € | -64.5% | 731,1 k € | -61.6% | 1,9 M € |
| Debts | 2,9 M € | +25.7% | 2,3 M € | -86.7% | 17,3 M € | +7.2% | 16,1 M € | +510% | 2,6 M € |
| Other | |||||||||
| Workforce | 10,8 ETP | -8.5% | 11,8 ETP | +6.3% | 11,1 ETP | +2.8% | 10,8 ETP | -2.7% | 11,1 ETP |
Valuation
Indicative valuation
As an indication, this company is worth
between 10 M€ and 25 M€
See the valuationBoard of directors
Source · NBB, accounts to 31/12/20254 active · 28 ended
Active mandates
Alexandra. VEITHEN.
ActiveNoleen Shiela MC CLOSKEY
ActivePHILIPPE MARCHAND
ActiveAlexandra VEITHEN
ActiveEnded mandates
Other companies at this address
Drève Richelle 161 1410 Waterloo| Company | CBE no. |
|---|---|
ACTA QUALITA● Bankrupt | 0764.988.817 |
Aderys● Active | 0824.466.445 |
ADERYS BW● Active | 0507.744.322 |
ADERYS IMMO● Active | 0719.905.492 |
ADVANCED MEDICAL DIAGNOSTICS● Bankrupt | 0861.161.446 |
ADVENCI● Active | 0729.985.079 |
AgenTus Therapeutics● Bankrupt | 0702.962.265 |
AHP PROPERTIES● Active | 0841.224.877 |
A++ INFORMATIQUE● Active | 0430.167.779 |
ALCANTARA● Active | 1038.720.738 |
ALGA MARIS● Active | 0759.673.217 |
ALGUE ROUGE● Active | 0739.650.338 |
ALSINOVA BELGIUM● Active | 0821.010.572 |
ANSE 505● Active | 0685.928.768 |
APRIL BELGIUM● Active | 0627.678.387 |
ARNAGA● Active | 0820.710.169 |
ATHENA FILMS● Active | 0543.379.251 |
ATOME HVAC● Active | 1023.502.230 |
AUDIT-Manager● Active | 0769.768.145 |
AULY● Active | 1019.289.361 |
Financials
Full financial information
Source · NBB| 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 | 08/06/2026 | 18/06/2025 | 10/06/2024 | 09/06/2023 | 16/06/2022 | 01/06/2021 |
| General meeting | 21/05/2026 | 15/05/2025 | 16/05/2024 | 19/05/2023 | 19/05/2022 | 20/05/2021 |
| 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 |
Financial ratios
Source · NBBLooking for more information about this company?
Try for freeAnnual accounts filings
Source · NBB, 20 filings| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 21/05/2026 | 08/06/2026 | French | |
| Abridged model | 31/12/2024 | 15/05/2025 | 18/06/2025 | French | |
| Abridged model | 31/12/2023 | 16/05/2024 | 10/06/2024 | French | |
| Abridged model | 31/12/2022 | 19/05/2023 | 09/06/2023 | French | |
| Abridged model | 31/12/2021 | 19/05/2022 | 16/06/2022 | French | |
| Abridged model | 31/12/2020 | 20/05/2021 | 01/06/2021 | French | |
| Abridged model | 31/12/2019 | 22/05/2020 | 28/05/2020 | French | |
| Abridged model | 31/12/2018 | 16/05/2019 | 23/05/2019 | French | |
| Abridged model | 31/12/2017 | 23/05/2018 | 29/05/2018 | French | |
| Abridged model | 31/12/2016 | 18/05/2017 | 29/05/2017 | French | |
| Abridged model | 31/12/2015 | 19/05/2016 | 02/06/2016 | French | |
| Abridged model | 31/12/2014 | 15/05/2015 | 30/07/2015 | French | |
| Abridged model | 31/12/2013 | 16/06/2014 | 18/06/2014 | French | |
| Abridged model | 31/12/2012 | 06/06/2013 | 24/06/2013 | French | |
| Abridged model | 31/12/2011 | 07/06/2012 | 03/08/2012 | French | |
| Abridged model | 31/12/2010 | 09/06/2011 | 12/07/2011 | French | |
| Abridged model | 31/12/2009 | 10/06/2010 | 19/07/2010 | French | |
| Abridged model | 31/12/2008 | 22/05/2009 | 26/05/2009 | French | |
| Abridged model | 31/12/2007 | 15/05/2008 | 23/05/2008 | French | |
| Abridged model | 31/12/2006 | 21/06/2007 | 03/07/2007 | French |
Valuation
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 10 M€ and 25 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
Board of directors
Source · NBB, accounts to 31/12/20254 active · 28 ended
Active mandates
Alexandra. VEITHEN.
ActiveNoleen Shiela MC CLOSKEY
ActivePHILIPPE MARCHAND
ActiveAlexandra VEITHEN
ActiveEnded mandates
Ownership and network
Looking for more information about this company?
Try for freePublications
Belgian Official Gazette publications
Source · Belgian Official Gazette- Mandates25/11/2025DEMISSIONS, NOMINATIONS
- Mandates30/10/2025DEMISSIONS, NOMINATIONS
- Mandates06/11/2024DEMISSIONS, NOMINATIONS
- Mandates19/09/2024DEMISSIONS, NOMINATIONS
- Capital / shares24/06/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
- Other12/01/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
- Mandates08/11/2023DEMISSIONS, NOMINATIONS
- Other21/09/2023DIVERS
Similar companies
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-66,2 k €↑
- 2024Annual accounts 2024-1,4 M €↓
- 2023Annual accounts 202377 k €↓
- 2022Annual accounts 202277,2 k €↓
- 2021Annual accounts 2021951,4 k €↑
- 2019Annual accounts 201953,4 k €↑
- 2018Annual accounts 201814,4 k €↑
- 2017Annual accounts 2017-177,1 k €↓
- 2016Annual accounts 2016276,8 k €↓
- 2015Annual accounts 20151,1 M €↑
- 2014Annual accounts 2014-598,6 k €↓
- 2013Annual accounts 2013222,3 k €↑
- 2012Annual accounts 2012143,2 k €↓
- 2011Annual accounts 2011208,8 k €↑
- 2010Annual accounts 2010145,6 k €↓
- 2009Annual accounts 2009164,1 k €↓
- 2008Annual accounts 2008314,3 k €↑
- 2007Annual accounts 2007205,5 k €↑
- 2006Annual accounts 200654,7 k €
- 16/08/1994IncorporationPublic limited company