ACTIVE

BELINE

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Financial year 2025 · closed on 31/12/2025

Net result

496,6 k €

-13.3% YoY

Gross margin

1,4 M €

-2.4% YoY

Equity

3,6 M €

-8.8% YoY

Workforce

11,8 ETP

+3.5% YoY

What does BELINE do?

BELINE is a Private limited company incorporated in 1999. Its main activity is: Retail sale of clothing in specialised stores. Its registered office is in Lendelede. It employs on average 11,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.964.928

Incorporation

01/10/1999

Legal form

Private limited company

Registered office

Rijksweg 4
8860 Lendelede · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

11,8 ETP

Activities (NACE)

47714Retail sale of clothing in specialised stores· main 47714Retail sale of clothing in specialised stores 47716Retail sale of clothing in specialised stores 47716Retail sale of clothing in specialised stores 52421Warehousing and support activities for transportation 52425Warehousing and support activities for transportation+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,4 M €	-2.4%	1,5 M €	+18.1%	1,3 M €	+11.3%	1,1 M €	+0.4%	1,1 M €	+42.8%	786,5 k €	+15.3%	681,9 k €	-1.7%	694 k €	+0.5%	690,8 k €	+8.9%	634,4 k €	+2.6%	618,2 k €	-0.7%	622,3 k €	+25.2%	497 k €	-7.0%	534,3 k €	+1.4%	526,7 k €	+6.8%	493,1 k €	+18.5%	416,1 k €	+60.8%	258,8 k €	+16.1%	222,8 k €	+60.0%	139,3 k €
EBITDA	765,1 k €	-12.1%	869,9 k €	+20.5%	721,9 k €	+0.3%	719,8 k €	-0.1%	720,3 k €	+37.5%	524 k €	+52.1%	344,6 k €	-6.8%	369,5 k €	-11.2%	416 k €	+19.3%	348,8 k €	-2.9%	359,1 k €	-10.1%	399,4 k €	+25.4%	318,5 k €	+3.3%	308,3 k €	-15.1%	363 k €	-1.3%	367,8 k €	+18.5%	310,4 k €	+46.6%	211,8 k €	+12.6%	188,1 k €	+72.8%	108,9 k €
Operating result	591,7 k €	-16.5%	708,6 k €	+24.0%	571,6 k €	+10.7%	516,2 k €	-16.8%	620,1 k €	+47.7%	420 k €	+74.8%	240,3 k €	-11.4%	271,1 k €	-15.2%	319,6 k €	+32.3%	241,6 k €	-6.4%	258,1 k €	-5.4%	272,9 k €	+13.3%	240,9 k €	+0.8%	239 k €	-14.9%	281 k €	-7.9%	305 k €	+22.6%	248,7 k €	+54.0%	161,5 k €	+21.7%	132,7 k €	+52.6%	87 k €
Net result	496,6 k €	-13.3%	573 k €	+18.6%	483,2 k €	+7.8%	448,3 k €	-8.9%	492 k €	+49.5%	329,1 k €	+77.0%	186 k €	-8.5%	203,3 k €	-8.1%	221,2 k €	+27.4%	173,7 k €	+5.0%	165,4 k €	-7.6%	178,9 k €	+3.7%	172,5 k €	+3.3%	167 k €	-9.3%	184,1 k €	-7.4%	198,9 k €	+38.0%	144,2 k €	+27.7%	112,9 k €	+19.1%	94,8 k €	+60.2%	59,2 k €
Balance sheet
Equity	3,6 M €	-8.8%	4 M €	+9.3%	3,6 M €	+12.5%	3,2 M €	+6.8%	3 M €	+15.6%	2,6 M €	+14.4%	2,3 M €	+8.9%	2,1 M €	+10.7%	1,9 M €	+13.2%	1,7 M €	+11.6%	1,5 M €	+12.4%	1,3 M €	+192%	457,1 k €	-57.7%	1,1 M €	+18.3%	912,6 k €	+25.3%	728,5 k €	+37.6%	529,6 k €	+37.4%	385,5 k €	+41.4%	272,5 k €	+44.4%	188,7 k €
Total assets	4,8 M €	-0.4%	4,8 M €	+7.1%	4,5 M €	+10.6%	4,1 M €	+11.2%	3,7 M €	+16.5%	3,1 M €	+12.5%	2,8 M €	+5.2%	2,7 M €	+5.4%	2,5 M €	+7.9%	2,3 M €	+5.4%	2,2 M €	+8.4%	2 M €	+17.1%	1,7 M €	+1.2%	1,7 M €	+9.9%	1,6 M €	+7.0%	1,5 M €	+10.8%	1,3 M €	+11.6%	1,2 M €	+90.9%	620,7 k €	+46.5%	423,7 k €
Cash	1 M €	+15.7%	896,6 k €	-44.7%	1,6 M €	-6.1%	1,7 M €	-18.7%	2,1 M €	+14.4%	1,9 M €	+52.5%	1,2 M €	+17.6%	1 M €	+25.6%	825 k €	+63.0%	506,1 k €	-3.6%	524,8 k €	+1.0%	519,4 k €	-0.9%	524,3 k €	+5.4%	497,6 k €	+61.6%	307,9 k €	+15.3%	267 k €	+26.3%	211,4 k €	+34.0%	157,7 k €	+31.8%	119,7 k €	+167%	44,9 k €
Debts	1,2 M €	+41.5%	838,1 k €	-2.0%	854,9 k €	+1.5%	842,1 k €	+31.7%	639,5 k €	+21.4%	526,9 k €	+3.9%	507,3 k €	-8.8%	555,9 k €	-10.7%	622,3 k €	-5.4%	657,8 k €	-8.1%	716,1 k €	+1.0%	709,2 k €	-44.9%	1,3 M €	+100.0%	643,7 k €	-1.7%	654,9 k €	-11.1%	736,9 k €	-7.1%	793,1 k €	-0.8%	799,1 k €	+130%	348,1 k €	+48.1%	235 k €
Other
Workforce	11,8 ETP	+3.5%	11,4 ETP	+11.8%	10,2 ETP	+9.7%	9,3 ETP	+9.4%	8,5 ETP	+16.4%	7,3 ETP	-9.9%	8,1 ETP	+17.4%	6,9 ETP	-1.4%	7,0 ETP	-2.8%	7,2 ETP	+16.1%	6,2 ETP	+17.0%	5,3 ETP	+17.8%	4,5 ETP	-21.1%	5,7 ETP	+26.7%	4,5 ETP	+15.4%	3,9 ETP	+8.3%	3,6 ETP	+140%	1,5 ETP	+87.5%	0,8 ETP	0.0%	0,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

H100

Director · since 02 septembre 2022 · 0649.859.517

Active

Lieselot Jeanne Decock

Director · since 01 juin 2005

Active

Ended mandates

H100

Director · since 02 septembre 2022 · 0649.859.517

Represented by Croes MICHAEL BRUNO

Ended

Bernadette De Masure

Director · until 02 septembre 2022

Ended

Bernadette De Masure

Director

Ended

Bernadette Demasure

Manager

Ended

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	01/01/2025	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	31/07/2026	29/08/2025	07/10/2024	31/08/2023	31/08/2022	09/09/2021
General meeting	29/06/2026	30/06/2025	24/06/2024	26/06/2023	27/06/2022	28/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/06/2026	31/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	29/08/2025	Dutch	PDF
Abridged modelCorrection	31/12/2023	24/06/2024	07/10/2024	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	28/08/2024	Dutch	PDF
Abridged model	31/12/2022	26/06/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	27/06/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	28/06/2021	09/09/2021	Dutch	PDF
Abridged model	31/12/2019	03/08/2020	14/08/2020	Dutch	PDF
Abridged model	31/12/2018	24/06/2019	19/08/2019	Dutch	PDF
Abridged model	31/12/2017	25/06/2018	18/09/2018	Dutch	PDF
Abridged model	31/12/2016	26/06/2017	28/08/2017	Dutch	PDF
Abridged model	31/12/2015	27/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/06/2015	27/08/2015	Dutch	PDF
Abridged model	31/12/2013	25/08/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	26/08/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	27/08/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	29/08/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	28/06/2010	01/07/2010	Dutch	PDF
Abridged model	31/12/2008	29/06/2009	29/06/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	01/07/2008	Dutch	PDF
Abridged model	31/12/2006	25/06/2007	27/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 31/12/2025 · 2 active · 7 ended

Active mandates

H100

Director · since 02 septembre 2022 · 0649.859.517

Active

Lieselot Jeanne Decock

Director · since 01 juin 2005

Active

Ended mandates

H100

Director · since 02 septembre 2022 · 0649.859.517

Represented by Croes MICHAEL BRUNO

Ended

Bernadette De Masure

Director · until 02 septembre 2022

Ended

Bernadette De Masure

Director

Ended

Bernadette Demasure

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/09/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares10/04/2014
KAPITAAL - AANDELEN
PDF
Registered office20/02/2009
MAATSCHAPPELIJKE ZETEL
PDF
Mandates09/06/2005
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 2025496,6 k €↓
2024
Annual accounts 2024573 k €↑
2023
Annual accounts 2023483,2 k €↑
2022
Annual accounts 2022448,3 k €↓
2021
Annual accounts 2021492 k €↑
2020
Annual accounts 2020329,1 k €↑
2019
Annual accounts 2019186 k €↓
2018
Annual accounts 2018203,3 k €↓
2017
Annual accounts 2017221,2 k €↑
2016
Annual accounts 2016173,7 k €↑
2015
Annual accounts 2015165,4 k €↓
2014
Annual accounts 2014178,9 k €↑
2013
Annual accounts 2013172,5 k €↑
2012
Annual accounts 2012167 k €↓
2011
Annual accounts 2011184,1 k €↓
2010
Annual accounts 2010198,9 k €↑
2009
Annual accounts 2009144,2 k €↑
2008
Annual accounts 2008112,9 k €↑
2007
Annual accounts 200794,8 k €↑
2006
Annual accounts 200659,2 k €
01/10/1999
IncorporationPrivate 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

BELINE

Overview

What does BELINE do?

Trend over 20 financial years

Indicative valuation

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