ACTIVE

BELFORT 18

Financial year 2025 · closed on 31/12/2025
Net result
517,4 k €
+3039.6% YoY
Gross margin
576,9 k €
+8397.6% YoY
Equity
668,6 k €
-21.9% YoY
Workforce
0,0 ETP

What does BELFORT 18 do?

BELFORT 18 is a Public limited company incorporated in 2017. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Gent.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0673.722.408
Incorporation
31/03/2017
Legal form
Public limited company
Registered office
Adelaarsstraat 24
9051 Gent · FlandreSee on map
Contributed capital
600 000,00 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Signals
ProfitablePositive cashflowPositive EBITDA
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 8 financial years

20252024202320222021202020192018
Income statement
Gross margin576,9 k €6,8 k €-92,2 k €843 k €113,9 k €135,3 k €209,6 k €266,3 k €
EBITDA564,2 k €-36,8 k €-163,1 k €760,5 k €77,9 k €107,8 k €178 k €233,2 k €
Operating result564,2 k €-9,1 k €-163,1 k €570,3 k €-99,6 k €-88,1 k €25,1 k €-34,3 k €
Net result517,4 k €-17,6 k €-288,5 k €363,9 k €587,4 k €-216,3 k €-36,1 k €-136,7 k €
Balance sheet
Equity668,6 k €856,2 k €873,8 k €1,2 M €798,3 k €210,9 k €427,2 k €463,3 k €
Total assets7,1 M €8,9 M €7,7 M €9,7 M €8,5 M €8,7 M €8,9 M €5,3 M €
Cash35 k €474,4 €237,2 k €281 k €765,5 k €1,6 k €31,2 k €9,3 k €
Debts6,4 M €8 M €6,8 M €8,5 M €7,7 M €8,5 M €8,4 M €4,8 M €
Other
Workforce0,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 7 ended

Active mandates

Jan-Pieter PIETERS

Director · since 22 mars 2023 · until 22 juin 2029

Active
KODOMO

Director · since 22 mars 2023 · until 22 juin 2029 · 0692.870.901

Represented by Sander Neukermans

Active
Louis LANNOO

Director · since 22 mars 2023 · until 22 juin 2029

Active

Ended mandates

Jan-Pieter PIETERS

Director · since 22 mars 2022 · until 30 juin 2029

Ended
KODOMO

Director · since 22 mars 2022 · until 30 juin 2029 · 0692.870.901

Represented by Sander Neukermans

Ended
Louis LANNOO

Director · since 22 mars 2022 · until 30 juin 2029

Ended
KODOMO

Managing director · since 28 novembre 2018 · until 28 juin 2024 · 0692.870.901

Represented by Sander Neukermans

Ended
At this address

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0874.488.157
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0444.630.974
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date25/08/202601/07/202515/07/202419/07/202327/06/202225/06/2021
General meeting26/06/202627/06/202528/06/202430/06/202324/06/202225/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

8 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202526/06/202625/08/2026DutchPDF
Abridged model31/12/202427/06/202501/07/2025DutchPDF
Abridged model31/12/202328/06/202415/07/2024DutchPDF
Abridged model31/12/202230/06/202319/07/2023DutchPDF
Abridged model31/12/202124/06/202227/06/2022DutchPDF
Abridged model31/12/202025/06/202125/06/2021DutchPDF
Abridged model31/12/201926/06/202003/07/2020DutchPDF
Abridged model31/12/201828/06/201909/07/2019DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 3 active · 7 ended

Active mandates

Jan-Pieter PIETERS

Director · since 22 mars 2023 · until 22 juin 2029

Active
KODOMO

Director · since 22 mars 2023 · until 22 juin 2029 · 0692.870.901

Represented by Sander Neukermans

Active
Louis LANNOO

Director · since 22 mars 2023 · until 22 juin 2029

Active

Ended mandates

Jan-Pieter PIETERS

Director · since 22 mars 2022 · until 30 juin 2029

Ended
KODOMO

Director · since 22 mars 2022 · until 30 juin 2029 · 0692.870.901

Represented by Sander Neukermans

Ended
Louis LANNOO

Director · since 22 mars 2022 · until 30 juin 2029

Ended
KODOMO

Managing director · since 28 novembre 2018 · until 28 juin 2024 · 0692.870.901

Represented by Sander Neukermans

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other23/09/2026
    PDF
  • Mandates28/03/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/12/2018
    KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF
  • Other04/04/2017
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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

Timeline

  1. 2025
    Annual accounts 2025517,4 k €
  2. 2024
    Annual accounts 2024-17,6 k €
  3. 2023
    Annual accounts 2023-288,5 k €
  4. 2022
    Annual accounts 2022363,9 k €
  5. 2021
    Annual accounts 2021587,4 k €
  6. 2020
    Annual accounts 2020-216,3 k €
  7. 2019
    Annual accounts 2019-36,1 k €
  8. 2018
    Annual accounts 2018-136,7 k €
  9. 31/03/2017
    IncorporationPublic limited company