ACTIVE

BELUGA TREE

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Financial year 2025 · closed on 31/12/2025
Net result
135,3 k €
+987.5% YoY
Gross margin
267,7 k €
+89.1% YoY
Equity
207,7 k €
+186.8% YoY

What does BELUGA TREE do?

BELUGA TREE is a Public limited company incorporated in 2017. Its main activity is: Motion picture, video and television programme production activities. Its registered office is in Bruxelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0682.619.385
Incorporation
06/10/2017
Legal form
Public limited company
Registered office
Quai au Foin 55
1000 Bruxelles · BruxellesSee on map
Contributed capital
61 500,00 €
Latest accounts
31/12/2025
Activities (NACE)
59112Motion picture, video and television programme production activities· main59112Motion picture, video and television programme production activities59111Motion picture, video and television programme production activities59111Motion picture, video and television programme production activities
Joint committees (1)
  • 30301
Signals
ProfitableGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 5 financial years

20252024202320192018
Income statement
Gross margin267,7 k €141,6 k €134,1 k €380,5 k €-158,8 k €
EBITDA267,7 k €141,6 k €131,1 k €183 k €-686 k €
Operating result267,7 k €141,6 k €131,1 k €182,3 k €-686,1 k €
Net result135,3 k €-15,2 k €52,9 k €133,8 k €-124,7 k €
Balance sheet
Equity207,7 k €72,4 k €87,7 k €147,4 k €208,5 k €
Total assets1,2 M €1,8 M €984,4 k €1,1 M €2,2 M €
Cash428,9 k €512,1 k €327,4 k €244,7 k €399,8 k €
Debts528,4 k €1,3 M €725,8 k €920,8 k €1,2 M €
Other
Workforce––0,1 ETP2,5 ETP8,4 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 · 5 ended

Active mandates

921

Director · since 29 juin 2021 · until 29 juin 2027 · 0451.489.072

Represented by Bert HAMELINCK

Active
Chusan Belgique

Director · since 26 mars 2020 · until 16 mars 2026 · 0447.299.365

Represented by Diana ELBAUM

Active

Ended mandates

Caviar Film and TV Europe NV

Director · since 26 mars 2020 · until 16 mars 2026 · 0669.587.040

Represented by Mathias Coppens

Ended
Caviar Group NV

Director · since 26 mars 2020 · until 16 mars 2026 · 0870.626.666

Represented by Bert Hamelinck

Ended
Caviar Film and TV Europe NV

Director · since 05 octobre 2017 · until 20 mars 2023 · 0669.587.040

Represented by Cut The Mustard Sprl Réprésenté par Nicolas Blondeau

Ended
Caviar Group NV

Chairman of the board of directors · since 05 octobre 2017 · until 20 mars 2023 · 0870.626.666

Represented by Olivier Praet

Ended
At this address

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0403.113.390
EDITIONS MUSICALES UNCLE DAN'S● Active
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Film Matters Belgium● Active
0446.059.646
Halfin Electronics● Active
0453.873.886
Quai55 - COMSET● Active
0403.108.739
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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 date30/06/202625/07/202524/07/202403/07/202330/06/202201/07/2021
General meeting30/06/202630/06/202528/06/202430/06/202330/06/202230/06/2021
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 model31/12/202530/06/202630/06/2026FrenchPDF
Abridged model31/12/202430/06/202525/07/2025FrenchPDF
Abridged model31/12/202328/06/202424/07/2024FrenchPDF
Abridged model31/12/202230/06/202303/07/2023FrenchPDF
Abridged model31/12/202130/06/202230/06/2022FrenchPDF
Abridged model31/12/202030/06/202101/07/2021FrenchPDF
Abridged model31/12/201926/06/202010/08/2020FrenchPDF
Abridged model31/12/201813/09/201920/09/2019FrenchPDF
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 · 5 ended

Active mandates

921

Director · since 29 juin 2021 · until 29 juin 2027 · 0451.489.072

Represented by Bert HAMELINCK

Active
Chusan Belgique

Director · since 26 mars 2020 · until 16 mars 2026 · 0447.299.365

Represented by Diana ELBAUM

Active

Ended mandates

Caviar Film and TV Europe NV

Director · since 26 mars 2020 · until 16 mars 2026 · 0669.587.040

Represented by Mathias Coppens

Ended
Caviar Group NV

Director · since 26 mars 2020 · until 16 mars 2026 · 0870.626.666

Represented by Bert Hamelinck

Ended
Caviar Film and TV Europe NV

Director · since 05 octobre 2017 · until 20 mars 2023 · 0669.587.040

Represented by Cut The Mustard Sprl Réprésenté par Nicolas Blondeau

Ended
Caviar Group NV

Chairman of the board of directors · since 05 octobre 2017 · until 20 mars 2023 · 0870.626.666

Represented by Olivier Praet

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Registered office30/06/2026
    SIEGE SOCIAL
    PDF
  • Registered office11/05/2026
    SIEGE SOCIAL
    PDF
  • Mandates25/08/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/10/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/09/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/03/2020
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Other10/10/2017
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 2025135,3 k €↑
  2. 2024
    Annual accounts 2024-15,2 k €↓
  3. 2023
    Annual accounts 202352,9 k €↓
  4. 2019
    Annual accounts 2019133,8 k €↑
  5. 2018
    Annual accounts 2018-124,7 k €
  6. 06/10/2017
    IncorporationPublic limited company