ACTIVE

BELVAS

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Financial year 2024 · closed on 31/12/2024

Net result

15,1 k €

+118.5% YoY

Revenue

12,2 M €

+19.2% YoY

Equity

4,7 M €

+20.0% YoY

Workforce

34,2 ETP

+10.3% YoY

What does BELVAS do?

BELVAS is a Public limited company incorporated in 2000. Its registered office is in Ath. It employs on average 34,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.516.692

Incorporation

28/07/2000

Legal form

Public limited company

Registered office

Chemin du Fundus(M.E) 7
7822 Ath · WallonieSee on map

Contributed capital

3 600 858,00 €

Latest accounts

31/12/2024

Average workforce

34,2 ETP

Joint committees (3)

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	12,2 M €	+19.2%	10,3 M €	-5.4%	10,8 M €	-26.9%	14,8 M €	+41.7%	10,5 M €	+2.9%	10,2 M €		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	1 M €	+2557%	-41,8 k €	-108%	533,1 k €	-56.0%	1,2 M €	+137%	511 k €	+23.6%	413,3 k €	-13.7%	479,2 k €	-21.8%	612,4 k €	+1148%	49,1 k €	-83.9%	305,2 k €	-4.3%	318,8 k €	+20.2%	265,2 k €	+2.1%	259,7 k €	+104%	127,3 k €	+20.5%	105,7 k €	-48.7%	206 k €	+42.3%	144,7 k €	+35818%	-405,2 €
Operating result	369,9 k €	+148%	-767,6 k €	-3807%	-19,6 k €	-106%	330 k €	+6266%	-5,4 k €	+93.5%	-81,8 k €	-160%	135,5 k €	-60.5%	343,4 k €	+208%	-317,3 k €	-475%	84,7 k €	-27.9%	117,5 k €	+42.2%	82,6 k €	-7.3%	89,1 k €	+308%	-42,9 k €	-13.5%	-37,8 k €	-139%	96,4 k €	+175%	35 k €	+147%	-73,8 k €
Net result	15,1 k €	+119%	-81,7 k €	+54.7%	-180,2 k €	-366%	67,8 k €	+149%	-139,5 k €	+34.1%	-211,7 k €	-803%	30,1 k €	-87.6%	242,5 k €	+151%	-479,5 k €	-1444%	-31 k €	-244%	21,6 k €	-54.5%	47,5 k €	+741%	5,6 k €	+106%	-100,8 k €	-51.9%	-66,3 k €	-186%	77,2 k €	+143%	31,8 k €	+146%	-68,4 k €
Balance sheet
Equity	4,7 M €	+20.0%	3,9 M €	+46.1%	2,7 M €	+28.6%	2,1 M €	+258%	587,3 k €	-17.1%	708,6 k €	+87.6%	377,7 k €	+5.6%	357,7 k €	+71.1%	209,1 k €	-42.8%	365,5 k €	+11.6%	327,4 k €	+3.3%	317 k €	+50.4%	210,8 k €	+113%	99 k €	-50.4%	199,8 k €	+23.7%	161,5 k €	+91.6%	84,3 k €	+60.5%	52,5 k €
Total assets	15,7 M €	+5.5%	14,9 M €	+43.9%	10,3 M €	+22.2%	8,5 M €	+29.3%	6,5 M €	-2.1%	6,7 M €	+25.5%	5,3 M €	+17.6%	4,5 M €	+40.2%	3,2 M €	-7.6%	3,5 M €	+16.8%	3 M €	+7.0%	2,8 M €	+19.4%	2,3 M €	+5.9%	2,2 M €	-1.2%	2,2 M €	+63.5%	1,4 M €	+36.1%	1 M €	+69.6%	594,2 k €
Cash	–		276,9 k €	-58.3%	664 k €	+146%	270,2 k €	+15.2%	234,7 k €	+102%	116,4 k €	-5.5%	123,2 k €	-56.3%	281,9 k €	+565%	42,4 k €	-64.1%	118,1 k €	+60.4%	73,6 k €	+49.7%	49,2 k €	-33.6%	74 k €	+73.3%	42,7 k €	+429%	8,1 k €	-95.6%	183,1 k €	+236%	54,5 k €	+226%	16,7 k €
Debts	10,7 M €	+1.3%	10,6 M €	+43.4%	7,4 M €	+16.6%	6,3 M €	+6.7%	5,9 M €	+0.8%	5,9 M €	+18.6%	4,9 M €	+19.2%	4,2 M €	+37.4%	3 M €	-3.5%	3,1 M €	+17.5%	2,7 M €	+7.9%	2,5 M €	+16.5%	2,1 M €	+0.3%	2,1 M €	+3.6%	2 M €	+69.1%	1,2 M €	+31.1%	921,7 k €	+73.1%	532,5 k €
Other
Workforce	34,2 ETP	+10.3%	31,0 ETP	-7.5%	33,5 ETP	+10.2%	30,4 ETP	-1.3%	30,8 ETP	+3.7%	29,7 ETP	+6.5%	27,9 ETP	+40.2%	19,9 ETP	+73.0%	11,5 ETP	-8.7%	12,6 ETP	-32.6%	18,7 ETP	-0.5%	18,8 ETP	+22.9%	15,3 ETP	+84.3%	8,3 ETP	+159%	3,2 ETP	+146%	1,3 ETP	-60.6%	3,3 ETP	-28.3%	4,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 5 active · 15 ended

Active mandates

Wallonie Entreprendre

Director · since 09 janvier 2023 · until 09 janvier 2029 · 0793.630.244

Represented by Vincent Vandrepol

Active

JBD MANAGEMENT

Director · since 20 avril 2022 · until 20 avril 2028 · 0677.596.666

Represented by Jean-David COUDERC

Active

CONFITAL

Director · since 22 décembre 2021 · until 25 juin 2027 · 0402.778.345

Represented by PETER TALPE

Active

EUKAIRIA

Chairman of the board of directors · since 22 décembre 2021 · until 25 juin 2027 · 0465.235.754

Represented by Thierry Noesen

Active

Kineden Commodities SA

Director · since 22 décembre 2021 · until 25 juin 2027 · 0779.596.225

Represented by Mamadou Adama BAMBA

Active

Ended mandates

Wallonie Entreprendre

Director · since 09 janvier 2023 · until 09 janvier 2029 · 0793.630.244

Represented by Vincent Vandrepol

Ended

JBD MANAGEMENT

Director · since 20 avril 2022 · until 20 avril 2028 · 0677.596.666

Represented by JEAN-DAVID COUDERC

Ended

JBD MANAGEMENT

Director · since 20 avril 2022 · 0677.596.666

Represented by JEAN-DAVID COUDERC

Ended

KINEDEN COMMODITIES SA

Director · since 22 décembre 2021 · until 25 juin 2027 · 0779.596.225

Represented by ADAMA BAMBA MAMADOU

Ended

At this address

Other companies at this address

Company	CBE no.
EUPHIA● Active	0867.192.965

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full 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	01/07/2020	01/07/2019	01/06/2018
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/06/2020	30/06/2019
Length of the financial year	12 months	12 months	12 months	18 months	12 months	13 months
Filing date	23/07/2025	23/09/2024	11/08/2023	02/08/2022	18/02/2021	31/01/2020
General meeting	27/06/2025	16/07/2024	30/06/2023	24/06/2022	13/01/2021	27/12/2019
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	27/06/2025	23/07/2025	French	PDF
Full model	31/12/2023	16/07/2024	23/09/2024	French	PDF
Full model	31/12/2022	30/06/2023	11/08/2023	French	PDF
Full model	31/12/2021	24/06/2022	02/08/2022	French	PDF
Full modelCorrection	30/06/2020	13/01/2021	18/02/2021	French	PDF
Full model	30/06/2020	13/01/2021	28/01/2021	French	PDF
Full model	30/06/2019	27/12/2019	31/01/2020	French	PDF
Abridged model	31/05/2018	30/11/2018	31/01/2019	French	PDF
Abridged model	31/05/2017	24/11/2017	30/11/2017	French	PDF
Abridged model	31/05/2016	25/11/2016	31/01/2017	French	PDF
Abridged model	31/12/2014	26/06/2015	26/06/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	29/08/2013	French	PDF
Abridged model	31/12/2011	29/06/2012	30/08/2012	French	PDF
Abridged model	31/12/2010	24/06/2011	30/09/2011	French	PDF
Abridged model	31/12/2009	25/06/2010	28/06/2010	French	PDF
Abridged model	31/12/2008	26/06/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	22/08/2008	French	PDF
Abridged model	31/12/2006	27/06/2007	22/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 31/12/2024 · 5 active · 15 ended

Active mandates

Wallonie Entreprendre

Director · since 09 janvier 2023 · until 09 janvier 2029 · 0793.630.244

Represented by Vincent Vandrepol

Active

JBD MANAGEMENT

Director · since 20 avril 2022 · until 20 avril 2028 · 0677.596.666

Represented by Jean-David COUDERC

Active

CONFITAL

Director · since 22 décembre 2021 · until 25 juin 2027 · 0402.778.345

Represented by PETER TALPE

Active

EUKAIRIA

Chairman of the board of directors · since 22 décembre 2021 · until 25 juin 2027 · 0465.235.754

Represented by Thierry Noesen

Active

Kineden Commodities SA

Director · since 22 décembre 2021 · until 25 juin 2027 · 0779.596.225

Represented by Mamadou Adama BAMBA

Active

Ended mandates

Wallonie Entreprendre

Director · since 09 janvier 2023 · until 09 janvier 2029 · 0793.630.244

Represented by Vincent Vandrepol

Ended

JBD MANAGEMENT

Director · since 20 avril 2022 · until 20 avril 2028 · 0677.596.666

Represented by JEAN-DAVID COUDERC

Ended

JBD MANAGEMENT

Director · since 20 avril 2022 · 0677.596.666

Represented by JEAN-DAVID COUDERC

Ended

KINEDEN COMMODITIES SA

Director · since 22 décembre 2021 · until 25 juin 2027 · 0779.596.225

Represented by ADAMA BAMBA MAMADOU

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares30/07/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates13/06/2024
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/08/2022
CAPITAL, ACTIONS
PDF
Mandates05/05/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates06/01/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates26/07/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Other16/07/2021
ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates11/07/2019
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202415,1 k €↑
2023
Annual accounts 2023-81,7 k €↑
2022
Annual accounts 2022-180,2 k €↓
2021
Annual accounts 202167,8 k €↑
2020
Annual accounts 2020-139,5 k €↑
2019
Annual accounts 2019-211,7 k €↓
2018
Annual accounts 201830,1 k €↓
2017
Annual accounts 2017242,5 k €↑
2016
Annual accounts 2016-479,5 k €↓
2014
Annual accounts 2014-31 k €↓
2013
Annual accounts 201321,6 k €↓
2012
Annual accounts 201247,5 k €↑
2011
Annual accounts 20115,6 k €↑
2010
Annual accounts 2010-100,8 k €↓
2009
Annual accounts 2009-66,3 k €↓
2008
Annual accounts 200877,2 k €↑
2008
Name changeBELVAS
2007
Annual accounts 200731,8 k €↑
2006
Annual accounts 2006-68,4 k €
2006
Name changeDEVAS
28/07/2000
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

BELVAS

Overview

What does BELVAS 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