ACTIVE

Belysse Group

Financial year 2025 · Closed on 31/12/2025

Net result-22,6 M €-21 431,2 %over 1 year

Revenue1,2 M €+57,1 %over 1 year

Equity260,4 M €-8,0 %over 1 year

Identity

Source · BCE/KBO

Belysse Group is a Public limited company incorporated in 2017. Its main activity is: Activities of holding companies. Its registered office is in Waregem.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0671.974.626
Incorporation: 02/03/2017
Legal form: Public limited company
Registered office: Franklin Rooseveltlaan 172-174
8790 Waregem · FlandreSee on map
Contributed capital: 326 249 997,00 €
Latest accounts: 31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Signals

Solid equityLow riskHigh revenue

Financials

Source · NBB, 17 filings

Trend over 9 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	1,2 M €	+57.1%	778,8 k €	-68.9%	2,5 M €	-51.8%	5,2 M €	+67.8%	3,1 M €
EBITDA	-3,8 k €	-123%	16,3 k €	+145%	-36 k €	-172%	49,9 k €	-57.4%	117,1 k €
Operating result	-3,8 k €	-123%	16,3 k €	+145%	-36 k €	-172%	49,9 k €	-57.4%	117,1 k €
Net result	-22,6 M €	-21431%	106,2 k €	+114%	49,5 k €	+100%	-11,9 M €	+93.3%	-176,6 M €
Balance sheet
Equity	260,4 M €	-8.0%	283,1 M €	+0.0%	283 M €	+0.0%	282,9 M €	-4.0%	294,8 M €
Total assets	260,8 M €	-8.0%	283,4 M €	-0.5%	284,7 M €	+0.3%	283,8 M €	-4.1%	295,9 M €
Cash	9,1 k €	-99.7%	2,8 M €	-9.3%	3,1 M €	+4834%	62,9 k €	+65.6%	38 k €
Debts	343,7 k €	+3.7%	331,4 k €	-81.1%	1,7 M €	+91.9%	911,7 k €	-16.8%	1,1 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
HEATH ROAD0729.951.130Represented by Johan Deburchgrave	Director28/05/2025 → 23/05/2029
Vishesh Khatnani	Director28/05/2025 → 23/05/2029
Claire KNOLLYS	Director06/03/2025 → 23/05/2029
Vanessa TEMPLE	Director01/01/2022 → 23/05/2029
Neal MORAR	Director01/03/2018 → 23/05/2029
ACCELIUM0675.830.177Represented by Nicolas VANDEN ABEELE	Director16/06/2017 → 23/05/2029
Cyrille RAGOUCY	Director16/06/2017 → 23/05/2029Mandate16/06/2017 → 2017 accountsendedManaging director16/06/2017 → 2019 accountsended
Hannah STRONG	Director29/05/2017 → 23/05/2029
Michael KOLBECK	Director01/03/2017 → 23/05/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Flora SIEGERT	Director27/10/2022 → 2024 accounts
Itzhak WIESENFELD	Director28/05/2019 → 2019 accounts

Other companies at this address

Franklin Rooseveltlaan 172-174 8790 Waregem

Company	CBE no.
BELYSSE● Active	0865.751.823
BELYSSE-GROUP● Active	0551.836.958
ICOCOM● Active	0845.305.510
IPLAST HOLDING● Active	0442.451.246
TCS Consult● Active	0808.031.774

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	12/06/2026	17/06/2025	28/05/2024	06/06/2023	01/06/2022	09/06/2021
General meeting	27/05/2026	28/05/2025	22/05/2024	24/05/2023	25/05/2022	26/05/2021
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 · NBB

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Annual accounts filings

Source · NBB, 17 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/05/2026	12/06/2026	Dutch	PDF
Full model	31/12/2024	28/05/2025	17/06/2025	Dutch	PDF
Consolidated accounts	31/12/2024	28/05/2025	16/06/2025	Dutch	PDF
Full model	31/12/2023	22/05/2024	28/05/2024	Dutch	PDF
Consolidated accounts	31/12/2023	22/05/2024	28/05/2024	Dutch	PDF
Full model	31/12/2022	24/05/2023	06/06/2023	Dutch	PDF
Consolidated accounts	31/12/2022	24/05/2023	06/06/2023	Dutch	PDF
Full model	31/12/2021	25/05/2022	01/06/2022	Dutch	PDF
Consolidated accounts	31/12/2021	25/05/2022	08/06/2022	Dutch	PDF
Full model	31/12/2020	26/05/2021	09/06/2021	Dutch	PDF
Consolidated accounts	31/12/2020	26/05/2021	08/06/2021	Dutch	PDF
Full model	31/12/2019	26/05/2020	25/06/2020	Dutch	PDF
Consolidated accounts	31/12/2019	26/05/2020	25/06/2020	Dutch	PDF
Full model	31/12/2018	28/05/2019	14/06/2019	Dutch	PDF
Consolidated accounts	31/12/2018	28/05/2019	27/06/2019	Dutch	PDF
Full model	31/12/2017	22/05/2018	15/06/2018	Dutch	PDF
Consolidated accounts	31/12/2017	18/04/2018	18/06/2018	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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.

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
HEATH ROAD0729.951.130Represented by Johan Deburchgrave	Director28/05/2025 → 23/05/2029
Vishesh Khatnani	Director28/05/2025 → 23/05/2029
Claire KNOLLYS	Director06/03/2025 → 23/05/2029
Vanessa TEMPLE	Director01/01/2022 → 23/05/2029
Neal MORAR	Director01/03/2018 → 23/05/2029
ACCELIUM0675.830.177Represented by Nicolas VANDEN ABEELE	Director16/06/2017 → 23/05/2029
Cyrille RAGOUCY	Director16/06/2017 → 23/05/2029Mandate16/06/2017 → 2017 accountsendedManaging director16/06/2017 → 2019 accountsended
Hannah STRONG	Director29/05/2017 → 23/05/2029
Michael KOLBECK	Director01/03/2017 → 23/05/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Flora SIEGERT	Director27/10/2022 → 2024 accounts
Itzhak WIESENFELD	Director28/05/2019 → 2019 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other15/10/2026
DIVERSEN
PDF
Mandates09/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other10/06/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates08/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Other27/10/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Registered office06/05/2022
MAATSCHAPPELIJKE ZETEL
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings9 filings

Mandates

HEATH ROAD

Vishesh Khatnani

Claire KNOLLYS

Vanessa TEMPLE

Neal MORAR

ACCELIUM

Cyrille RAGOUCY

Hannah STRONG

Michael KOLBECK

Flora SIEGERT

Itzhak WIESENFELD

Sarah HEDGER

Show the 5 other mandates

2017201820192020202120222023202420252026202720282029

Belysse GroupBALTA GROUP

Franklin Rooseveltlaan 172, 8790 Waregem

Director

DirectorManaging director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Franklin Rooseveltlaan 172-174, 8790 WaregemCurrent		CBE
Franklin Rooseveltlaan 172, 8790 Waregem	accounts 2022 → 2025	Accounts 2025 · 2026-00173977
Wakkensteenweg 2, 8710 Wielsbeke	accounts 2021	Accounts 2021 · 2022-20043568

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Belysse GroupCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00173977
BALTA GROUP	accounts 2017 → 2021	Accounts 2021 · 2022-20043568

Events

2025
Annual accounts 2025-22,6 M €↓
28/05/2025
reconductionCyrille Ragoucy · niet-uitvoerend bestuurder
28/05/2025
reconductionMichael Kolbeck · niet-uitvoerend bestuurder
28/05/2025
reconductionAccelium BV · onafhankelijk bestuurder
28/05/2025
reconductionVanessa Temple · onafhankelijk bestuurder
28/05/2025
nominationHeath Road BV · onafhankelijk bestuurder
28/05/2025
reconductionNeal Morar · niet-uitvoerend bestuurder
28/05/2025
reconductionHannah Strong · niet-uitvoerend bestuurder
28/05/2025
reconductionClaire Knollys · niet-uitvoerend bestuurder
28/05/2025
nominationVishesh Khatnani · niet-uitvoerend bestuurder
28/05/2025
nominationPwC Bedrijfsrevisoren BV · commissaris
06/03/2025
nominationClaire Knollys · niet-uitvoerend bestuurder
06/03/2025
nominationClaire Knollyss · niet-uitvoerend bestuurder
2024
Annual accounts 2024106,2 k €↑
2023
Annual accounts 202349,5 k €↑
24/05/2023
reconductionItzhak Wiesenfeld · onafhankelijk bestuurder
24/05/2023
reconductionWouter Coppens · commissaris
2022
Annual accounts 2022-11,9 M €↑
2022
Name changeBelysse Group
27/10/2022
nominationFlora Siegert · niet-uitvoerende bestuurder
2021
Annual accounts 2021-176,6 M €↓
2020
Annual accounts 2020126,4 k €↑
2019
Annual accounts 201988,8 k €↓
2018
Annual accounts 2018225,3 k €↑
2017
Annual accounts 2017-2,4 M €
02/03/2017
IncorporationPublic limited company

Belysse Group

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events