NORMAL SITUATION

BELINVEST

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Financial year 2024 · closed on 31/12/2024

Net result

-150,9 k €

-29.3% YoY

Gross margin

233 k €

Equity

29,9 M €

-0.5% YoY

Workforce

6,0 ETP

+66.7% YoY

Company — Normal situation.

What does BELINVEST do?

BELINVEST is a company registered in Belgium. It employs on average 6,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.338.584

Legal form

Public limited company

Contributed capital

400 000,00 €

Latest accounts

31/12/2024

Average workforce

6,0 ETP

Joint committees (3)

200
20000
218

Signals

Solid equityGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	233 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-216,7 k €	-25.8%	-172,3 k €	-61.3%	-106,8 k €	+3.5%	-110,6 k €	+26.3%	-150,2 k €	-248%	101,6 k €	+100%	-28,8 M €	-97745%	-29,5 k €	-103%	1,1 M €	-44.4%	2 M €	-2.0%	2 M €	-3.3%	2,1 M €	+2.1%	2,1 M €	-0.3%	2,1 M €	+8.0%	1,9 M €
Operating result	-288,9 k €	-16.4%	-248,2 k €	-44.1%	-172,3 k €	-18.3%	-145,6 k €	+33.9%	-220,4 k €	-444%	64,1 k €	+100%	-28,9 M €	-43109%	-66,8 k €	-106%	1,1 M €	-45.6%	2 M €	-2.0%	2 M €	-1.4%	2,1 M €	+2.1%	2 M €	-0.3%	2 M €	+9.7%	1,9 M €
Net result	-150,9 k €	-29.3%	-116,7 k €	-114%	859,5 k €	-83.0%	5,1 M €	+83.6%	2,8 M €	-35.3%	4,3 M €	+8.5%	3,9 M €	-72.9%	14,5 M €	+204%	4,8 M €	-24.3%	6,3 M €	+123%	-27,1 M €	-287%	14,5 M €	-20.6%	18,2 M €	+429%	3,5 M €	-50.9%	7 M €
Balance sheet
Equity	29,9 M €	-0.5%	30 M €	-3.6%	31,1 M €	-40.9%	52,7 M €	-31.1%	76,4 M €	-1.1%	77,3 M €	-0.9%	78 M €	+1.1%	77,2 M €	+17.4%	65,7 M €	+3.6%	63,4 M €	-0.3%	63,6 M €	-29.9%	90,7 M €	+5.2%	86,3 M €	+11.4%	77,4 M €	-4.7%	81,2 M €
Total assets	32,3 M €	+7.2%	30,2 M €	-3.7%	31,3 M €	-51.4%	64,4 M €	-17.6%	78,1 M €	-5.1%	82,3 M €	-3.2%	85 M €	+1.0%	84,2 M €	-4.5%	88,1 M €	-2.1%	90 M €	+0.9%	89,1 M €	-21.2%	113,1 M €	-0.8%	114,1 M €	+15.5%	98,8 M €	-5.4%	104,4 M €
Cash	33,3 k €	-91.5%	393,3 k €	-93.4%	5,9 M €	-68.5%	18,8 M €	-48.1%	36,2 M €	+15.8%	31,3 M €	+4.4%	30 M €	+168%	11,2 M €	+300%	2,8 M €	-27.5%	3,8 M €	+4.6%	3,7 M €	+4.6%	3,5 M €	-35.5%	5,5 M €	+14914%	36,3 k €	-72.3%	131,1 k €
Debts	2,4 M €	+1560%	143,1 k €	-21.4%	182,1 k €	-98.4%	11,7 M €	+603%	1,7 M €	-67.1%	5,1 M €	-28.1%	7 M €	+0.2%	7 M €	-68.6%	22,4 M €	-15.6%	26,5 M €	+4.0%	25,5 M €	+14.0%	22,4 M €	-19.5%	27,8 M €	+30.3%	21,4 M €	-7.9%	23,2 M €
Other
Workforce	6,0 ETP	+66.7%	3,6 ETP	-39.0%	5,9 ETP	+13.5%	5,2 ETP	-24.6%	6,9 ETP	+23.2%	5,6 ETP	0.0%	5,6 ETP	+7.7%	5,2 ETP	+23.8%	4,2 ETP	-4.5%	4,4 ETP	-12.0%	5,0 ETP	+2.0%	4,9 ETP	-9.3%	5,4 ETP	+8.0%	5,0 ETP	-3.8%	5,2 ETP

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 14 ended

Active mandates

SEASTAR CAPITAL

Managing director · 0685.867.204

Represented by Joost Van Cauwenberge

Active

STELCA. BE COMMV

Managing director · until 30 avril 2024 · 0687.950.328

Represented by Ellen Van Cauwenberge

Active

Ended mandates

SEASTAR CAPITAL

Managing director · since 12 janvier 2018 · until 06 juin 2022 · 0685.867.204

Represented by Joost Van Cauwenberge

Ended

SEASTAR CAPITAL

Managing director · since 12 janvier 2018 · 0685.867.204

Represented by Joost Van Cauwenberge

Ended

Stelca.be Comm.V

Managing director · since 12 janvier 2018 · 0687.950.328

Represented by Ellen Van Cauwenberge

Ended

STELCA.BE Comm.V

Managing director · since 12 janvier 2018 · until 06 juin 2022 · 0687.950.328

Represented by Ellen Van Cauwenberge

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/08/2025	13/08/2024	14/07/2023	08/06/2022	21/09/2021	17/07/2020
General meeting	30/06/2025	19/07/2024	30/06/2023	07/06/2022	07/06/2021	02/06/2020
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

26 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	30/06/2025	28/08/2025	Dutch	PDF
Full model	31/12/2023	19/07/2024	13/08/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	14/07/2023	Dutch	PDF
Full model	31/12/2021	07/06/2022	08/06/2022	Dutch	PDF
Full model	31/12/2020	07/06/2021	21/09/2021	Dutch	PDF
Full model	31/12/2019	02/06/2020	17/07/2020	Dutch	PDF
Full model	31/12/2018	03/06/2019	24/09/2019	Dutch	PDF
Full model	31/12/2017	04/06/2018	24/09/2019	Dutch	PDF
Full model	31/12/2016	06/06/2017	12/07/2017	Dutch	PDF
Full model	31/12/2015	06/06/2016	30/08/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	20/08/2015	Dutch	PDF
Full model	31/12/2013	02/06/2014	11/08/2014	Dutch	PDF
Full model	31/12/2012	03/06/2013	11/08/2014	Dutch	PDF
Full model	31/12/2011	04/06/2012	22/06/2012	Dutch	PDF
Full model	31/12/2010	06/06/2011	21/06/2011	Dutch	PDF
Full model	31/12/2009	07/06/2010	07/07/2010	Dutch	PDF
Full model	31/12/2008	01/06/2009	09/06/2009	Dutch	PDF
Full model	31/12/2007	02/06/2008	21/08/2008	Dutch	PDF
Full model	31/12/2006	04/06/2007	20/06/2007	Dutch	PDF
Full model	31/12/2005	06/06/2006	04/07/2006	Dutch	PDF
Full model	31/12/2004	06/06/2005	12/07/2005	Dutch	PDF
Full model	31/12/2003	07/06/2004	01/09/2004	Dutch	PDF
Full model	31/12/2002	02/06/2003	10/07/2003	Dutch	PDF
Full model	31/12/2001	03/06/2002	26/09/2002	Dutch	PDF

View all 26 filings

Estimate

Indicative valuation

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 31/12/2024 · 2 active · 14 ended

Active mandates

SEASTAR CAPITAL

Managing director · 0685.867.204

Represented by Joost Van Cauwenberge

Active

STELCA. BE COMMV

Managing director · until 30 avril 2024 · 0687.950.328

Represented by Ellen Van Cauwenberge

Active

Ended mandates

SEASTAR CAPITAL

Managing director · since 12 janvier 2018 · until 06 juin 2022 · 0685.867.204

Represented by Joost Van Cauwenberge

Ended

SEASTAR CAPITAL

Managing director · since 12 janvier 2018 · 0685.867.204

Represented by Joost Van Cauwenberge

Ended

Stelca.be Comm.V

Managing director · since 12 janvier 2018 · 0687.950.328

Represented by Ellen Van Cauwenberge

Ended

STELCA.BE Comm.V

Managing director · since 12 janvier 2018 · until 06 juin 2022 · 0687.950.328

Represented by Ellen Van Cauwenberge

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring12/11/2025
MET FUSIE DOOR OVERNEMING GELIJKGESTELDE VERRICHTING -
PDF
Restructuring29/08/2025
MET FUSIE DOOR OVERNENING GELIJKGESTELDE VERRICHTING
PDF
Restructuring26/05/2025
VOORSTEL GERUISLOZE FUSIE
PDF
Mandates02/07/2024
Ontslag (gedelegeerd) bestuurder - Voorzitter raad van bestuur
PDF
Mandates11/10/2022
HERBENOEMING (GEDELEGEERD) BESTUURDERS - VOORZITTER RAAD
PDF
Restructuring09/08/2022
PARTIËLE SPLITSING - BEVESTIGING ZETEL - AANPASSING STATUTEN
PDF
Other29/07/2022
BENOENING COMMISSARIS !
PDF
Restructuring30/05/2022
NEERLEGGING VOORSTEL TOT PARTIËLE SPLITSING
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

2024
Annual accounts 2024-150,9 k €↓
2023
Annual accounts 2023-116,7 k €↓
2022
Annual accounts 2022859,5 k €↓
2021
Annual accounts 20215,1 M €↑
2018
Annual accounts 20182,8 M €↓
2017
Annual accounts 20174,3 M €↑
2016
Annual accounts 20163,9 M €↓
2015
Annual accounts 201514,5 M €↑
2014
Annual accounts 20144,8 M €↓
2013
Annual accounts 20136,3 M €↑
2012
Annual accounts 2012-27,1 M €↓
2011
Annual accounts 201114,5 M €↓
2010
Annual accounts 201018,2 M €↑
2009
Annual accounts 20093,5 M €↓
2008
Annual accounts 20087 M €

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

BELINVEST

Overview

What does BELINVEST do?

Trend over 15 financial years

Board of directors

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