ACTIVE

BELLEAQUA

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Financial year 2025 · closed on 31/12/2025

Net result

165,4 k €

-36.9% YoY

Gross margin

1,5 M €

-6.3% YoY

Equity

1,6 M €

+11.6% YoY

Workforce

12,5 ETP

-8.1% YoY

What does BELLEAQUA do?

BELLEAQUA is a Private limited company incorporated in 2002. Its main activity is: Water collection, treatment and supply. Its registered office is in Wuustwezel. It employs on average 12,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.539.719

Incorporation

08/01/2002

Legal form

Private limited company

Registered office

Den Isomo 8
2990 Wuustwezel · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

12,5 ETP

Activities (NACE)

36000Water collection, treatment and supply· main 36000Water collection, treatment and supply 41000Construction of buildings 42919Construction of water projects 42919Construction of water projects 43240Electrical, plumbing and other construction installation activities+4

Joint committees (5)

124
12400
200
20000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,5 M €	-6.3%	1,6 M €	+2.1%	1,6 M €	-11.7%	1,8 M €	+26.4%	1,4 M €	+17.7%	1,2 M €	-3.2%	1,2 M €	-3.5%	1,3 M €	+15.0%	1,1 M €	-11.0%	1,2 M €	-0.8%	1,3 M €	+7.1%	1,2 M €	+4.4%	1,1 M €	+23.3%	909 k €	+6.6%	852,5 k €	+44.1%	591,7 k €	+15.8%	510,8 k €	-13.8%	592,9 k €	-1.3%	600,7 k €	+79.1%	335,4 k €
EBITDA	423,5 k €	-21.5%	539,3 k €	+7.6%	501,1 k €	+48.7%	337 k €	+19.2%	282,6 k €	+50.2%	188,2 k €	-38.0%	303,8 k €	-15.7%	360,5 k €	+34.6%	267,8 k €	-26.9%	366,5 k €	+25.6%	291,8 k €	-15.2%	344,2 k €	+10.0%	312,9 k €	+9.6%	285,5 k €	+5.2%	271,5 k €	+21.3%	223,7 k €	+21.1%	184,7 k €	-8.7%	202,4 k €	-38.1%	326,8 k €	+165%	123,6 k €
Operating result	237,6 k €	-39.3%	391,6 k €	+7.9%	363,1 k €	+93.3%	187,8 k €	+31.2%	143,2 k €	+156%	56 k €	-73.3%	209,9 k €	-6.8%	225,3 k €	+133%	96,5 k €	-45.2%	176 k €	+260%	48,9 k €	-35.5%	75,8 k €	-30.6%	109,2 k €	-16.6%	131 k €	+28.7%	101,8 k €	-10.0%	113,1 k €	+36.3%	83 k €	+7.0%	77,6 k €	-63.9%	214,8 k €	+410%	42,1 k €
Net result	165,4 k €	-36.9%	261,9 k €	-2.8%	269,5 k €	+93.0%	139,7 k €	+16.8%	119,6 k €	+317%	28,6 k €	-84.8%	188,1 k €	-3.5%	195 k €	+543%	30,3 k €	-53.8%	65,7 k €	+1031%	5,8 k €	+162%	-9,3 k €	-121%	44,8 k €	+0.7%	44,5 k €	+124%	19,8 k €	-48.1%	38,2 k €	+1422%	-2,9 k €	-130%	9,7 k €	-90.7%	105,2 k €	+3884%	2,6 k €
Balance sheet
Equity	1,6 M €	+11.6%	1,4 M €	+22.5%	1,2 M €	+30.2%	893,5 k €	+18.5%	753,8 k €	+18.9%	634,2 k €	+4.7%	605,6 k €	-7.7%	655,9 k €	+42.3%	461 k €	+7.0%	430,7 k €	+18.0%	365 k €	+1.6%	359,2 k €	-2.5%	368,6 k €	+5.2%	350,2 k €	+14.6%	305,7 k €	+6.9%	285,8 k €	+15.4%	247,6 k €	-1.2%	250,5 k €	+4.0%	240,8 k €	+77.6%	135,5 k €
Total assets	2,6 M €	+11.6%	2,3 M €	-9.8%	2,6 M €	+8.5%	2,4 M €	+16.7%	2,1 M €	+11.3%	1,8 M €	-26.4%	2,5 M €	+25.1%	2 M €	-14.5%	2,3 M €	+2.1%	2,3 M €	-14.1%	2,7 M €	-5.4%	2,8 M €	+1.1%	2,8 M €	+38.4%	2 M €	-14.7%	2,4 M €	+14.1%	2,1 M €	+21.8%	1,7 M €	-3.5%	1,8 M €	-8.1%	1,9 M €	+52.2%	1,3 M €
Cash	139,5 k €	+24.5%	112,1 k €	-62.9%	301,9 k €	+97534%	309,2 €	-99.9%	233,4 k €	+20.1%	194,4 k €	-66.8%	584,9 k €	+108%	280,7 k €	+42.4%	197,1 k €	+117%	90,9 k €	+93.8%	46,9 k €	-8.6%	51,3 k €	-84.0%	320,1 k €	+511%	52,4 k €	-63.3%	143 k €	+1821%	7,4 k €	+7172%	102,3 €	-98.4%	6,5 k €	-93.8%	104 k €	+427%	19,7 k €
Debts	1 M €	+29.7%	789,3 k €	-45.2%	1,4 M €	-4.4%	1,5 M €	+15.7%	1,3 M €	+7.4%	1,2 M €	-36.3%	1,9 M €	+41.1%	1,3 M €	-28.4%	1,9 M €	+1.0%	1,9 M €	-19.2%	2,3 M €	-6.4%	2,5 M €	+1.7%	2,4 M €	+45.3%	1,7 M €	-19.0%	2,1 M €	+15.3%	1,8 M €	+22.9%	1,5 M €	-3.8%	1,5 M €	-9.9%	1,7 M €	+49.1%	1,1 M €
Other
Workforce	12,5 ETP	-8.1%	13,6 ETP	-6.2%	14,5 ETP	-19.4%	18,0 ETP	+8.4%	16,6 ETP	+6.4%	15,6 ETP	+1.3%	15,4 ETP	+12.4%	13,7 ETP	0.0%	13,7 ETP	0.0%	13,7 ETP	-19.4%	17,0 ETP	+15.6%	14,7 ETP	+10.5%	13,3 ETP	+15.7%	11,5 ETP	+1.8%	11,3 ETP	+54.8%	7,3 ETP	+9.0%	6,7 ETP	-17.3%	8,1 ETP	+24.6%	6,5 ETP	+20.4%	5,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Gravis Invest

Director · 0505.882.219

Represented by Sonja Van Hooydonck

Active

Jean Pierre Depauw

Director

Active

Ended mandates

Gravis Invest

Manager · 0505.882.219

Represented by Sonja Van Hooydonck

Ended

Jean Pierre Depauw

Manager

Ended

Sonja Van Hooydonck

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
ISOMO 9● Active	0739.624.802
TM BELLEAQUA - DE WAELE SOLUTIONS● Active	0794.531.750

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	29/04/2026	29/09/2025	11/07/2024	30/06/2023	27/06/2022	30/06/2021
General meeting	14/04/2026	11/06/2025	12/06/2024	14/06/2023	08/06/2022	09/06/2021
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
Abridged model	31/12/2025	14/04/2026	29/04/2026	Dutch	PDF
Abridged model	31/12/2024	11/06/2025	29/09/2025	Dutch	PDF
Abridged model	31/12/2023	12/06/2024	11/07/2024	Dutch	PDF
Abridged model	31/12/2022	14/06/2023	30/06/2023	Dutch	PDF
Abridged model	31/12/2021	08/06/2022	27/06/2022	Dutch	PDF
Abridged model	31/12/2020	09/06/2021	30/06/2021	Dutch	PDF
Abridged model	31/12/2019	10/06/2020	12/06/2020	Dutch	PDF
Abridged model	31/12/2018	01/04/2019	02/04/2019	Dutch	PDF
Abridged model	31/12/2017	24/04/2018	27/04/2018	Dutch	PDF
Abridged model	31/12/2016	14/06/2017	07/07/2017	Dutch	PDF
Abridged model	31/12/2015	08/06/2016	01/07/2016	Dutch	PDF
Abridged model	31/12/2014	10/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	11/06/2014	17/06/2014	Dutch	PDF
Abridged model	31/12/2012	12/06/2013	14/06/2013	Dutch	PDF
Abridged model	31/12/2011	09/03/2012	27/03/2012	Dutch	PDF
Abridged model	31/12/2010	08/06/2011	01/07/2011	Dutch	PDF
Abridged model	31/12/2009	09/06/2010	05/07/2010	Dutch	PDF
Abridged model	31/12/2008	10/06/2009	09/07/2009	Dutch	PDF
Abridged model	31/12/2007	11/06/2008	12/06/2008	Dutch	PDF
Abridged model	31/12/2006	13/06/2007	15/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 3 ended

Active mandates

Gravis Invest

Director · 0505.882.219

Represented by Sonja Van Hooydonck

Active

Jean Pierre Depauw

Director

Active

Ended mandates

Gravis Invest

Manager · 0505.882.219

Represented by Sonja Van Hooydonck

Ended

Jean Pierre Depauw

Manager

Ended

Sonja Van Hooydonck

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/11/2019
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office15/10/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates18/01/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares29/01/2014
KAPITAAL - AANDELEN
PDF
Mandates16/11/2010
ONTSLAGEN - BENOEMINGEN
PDF
Registered office29/03/2006
MAATSCHAPPELIJKE ZETEL
PDF
Other21/02/2003
BENAMING
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 2025165,4 k €↓
2024
Annual accounts 2024261,9 k €↓
2023
Annual accounts 2023269,5 k €↑
2022
Annual accounts 2022139,7 k €↑
2021
Annual accounts 2021119,6 k €↑
2020
Annual accounts 202028,6 k €↓
2019
Annual accounts 2019188,1 k €↓
2018
Annual accounts 2018195 k €↑
2017
Annual accounts 201730,3 k €↓
2016
Annual accounts 201665,7 k €↑
2015
Annual accounts 20155,8 k €↑
2014
Annual accounts 2014-9,3 k €↓
2013
Annual accounts 201344,8 k €↑
2012
Annual accounts 201244,5 k €↑
2011
Annual accounts 201119,8 k €↓
2010
Annual accounts 201038,2 k €↑
2009
Annual accounts 2009-2,9 k €↓
2008
Annual accounts 20089,7 k €↓
2007
Annual accounts 2007105,2 k €↑
2006
Annual accounts 20062,6 k €
08/01/2002
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

BELLEAQUA

Overview

What does BELLEAQUA 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