ACTIVE

BELREF

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Financial year 2025 · Closed on 31/12/2025

Net result-267,4 k €+68,0 %over 1 year

Revenue6,3 M €+5,4 %over 1 year

Equity1,9 M €-12,5 %over 1 year

Workforce24,2 ETP-5,8 %over 1 year

Identity

Source · BCE/KBO

BELREF is a Public limited company incorporated in 2017. Its main activity is: Manufacture of refractory products. Its registered office is in Saint-Ghislain. It employs on average 24,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0672.930.570
Incorporation: 22/03/2017
Legal form: Public limited company
Registered office: Rue de la Rivièrette(SG) 100
7330 Saint-Ghislain · WallonieSee on map
Contributed capital: 2 800 000,00 €
Latest accounts: 31/12/2025
Average workforce: 24,2 ETP

Activities (NACE)

23200Manufacture of refractory products· main 23200Manufacture of refractory products

Joint committees (2)

Signals

Solid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 9 filings

Trend over 9 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	6,3 M €	+5.4%	6 M €	-10.5%	6,7 M €	+3.5%	6,4 M €	+5.6%	6,1 M €
EBITDA	147,3 k €	+153%	-276,6 k €	-171%	392,1 k €	+34.1%	292,3 k €	+694%	36,8 k €
Operating result	-404,3 k €	+46.7%	-758,2 k €	-640%	140,5 k €	+45.1%	96,9 k €	+151%	-190,4 k €
Net result	-267,4 k €	+68.0%	-835,5 k €	-1396%	64,5 k €	-33.1%	96,4 k €	+140%	-238,2 k €
Balance sheet
Equity	1,9 M €	-12.5%	2,1 M €	-1.6%	2,2 M €	+62.3%	1,3 M €	+7.8%	1,2 M €
Total assets	4,8 M €	+1.4%	4,7 M €	-19.2%	5,9 M €	+45.0%	4 M €	+5.4%	3,8 M €
Cash	577 k €	+421%	110,9 k €	-72.1%	397,5 k €	-33.8%	600 k €	+133%	257,5 k €
Debts	2,9 M €	+12.1%	2,6 M €	-30.5%	3,7 M €	+38.0%	2,7 M €	+4.7%	2,5 M €
Other
Workforce	24,2 ETP	-5.8%	25,7 ETP	+7.5%	23,9 ETP	+3.5%	23,1 ETP	-4.5%	24,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Domenico LEONE	Managing director22/03/2017 → 20/05/2031
Dominique JUNG	Director17/05/2022 → 20/05/2031
MYLEO0748.581.662Represented by Romain LEONE	Director20/05/2025 → 20/05/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Société de Gestion Industrielle0420.881.515Represented by Philippe BRILOT	Director22/03/2017 → 2024 accounts
Jean-Marc BUYDENS	Director22/03/2017 → 2018 accounts

Other companies at this address

Rue de la Rivièrette(SG) 100 7330 Saint-Ghislain

Company	CBE no.
IPRATEC● Active	0475.225.170

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	20/05/2026	05/07/2025	15/06/2024	05/06/2023	30/05/2022	10/06/2021
General meeting	19/05/2026	20/05/2025	21/05/2024	16/05/2023	17/05/2022	18/05/2021
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, 9 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/05/2026	20/05/2026	French	PDF
Full model	31/12/2024	20/05/2025	05/07/2025	French	PDF
Full model	31/12/2023	21/05/2024	15/06/2024	French	PDF
Full model	31/12/2022	16/05/2023	05/06/2023	French	PDF
Full model	31/12/2021	17/05/2022	30/05/2022	French	PDF
Full model	31/12/2020	18/05/2021	10/06/2021	French	PDF
Full model	31/12/2019	19/05/2020	07/07/2020	French	PDF
Full model	31/12/2018	21/05/2019	18/06/2019	French	PDF
Full model	31/12/2017	19/05/2018	06/06/2018	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Domenico LEONE	Managing director22/03/2017 → 20/05/2031
Dominique JUNG	Director17/05/2022 → 20/05/2031
MYLEO0748.581.662Represented by Romain LEONE	Director20/05/2025 → 20/05/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Société de Gestion Industrielle0420.881.515Represented by Philippe BRILOT	Director22/03/2017 → 2024 accounts
Jean-Marc BUYDENS	Director22/03/2017 → 2018 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other08/07/2026
DESIGNATION DU PRESIDENT DU CONSEIL D'ADMINISTRATION -
PDF
Mandates07/07/2025
DEMISSIONS, NOMINATIONS
PDF
Capital / shares06/06/2024
CAPITAL, ACTIONS
PDF
Capital / shares15/06/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - CAPITAL, ACTIONS
PDF
Mandates31/05/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/06/2022
DEMISSIONS, NOMINATIONS
PDF
Other30/07/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
PDF
Mandates11/06/2020
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings9 filings

Mandates

MYLEO

Domenico LEONE

Dominique JUNG

Société de Gestion Industrielle

Jean-Marc BUYDENS

201720182019202020212022202320242025202620272028202920302031

BELREF

Rue de la Rivièrette(SG) 100, 7330 Saint-Ghislain

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue de la Rivièrette(SG) 100, 7330 Saint-GhislainCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00117392

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
BELREFCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00117392

Events

2025
Annual accounts 2025-267,4 k €↑
2024
Annual accounts 2024-835,5 k €↓
2023
Annual accounts 202364,5 k €↓
2022
Annual accounts 202296,4 k €↑
2021
Annual accounts 2021-238,2 k €↓
2020
Annual accounts 202010,7 k €↓
2019
Annual accounts 2019335,9 k €↓
2018
Annual accounts 20181,2 M €↑
2017
Annual accounts 2017409,1 k €
22/03/2017
IncorporationPublic limited company

BELREF

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