ACTIVE

BELSKAND

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Financial year 2025 · closed on 31/12/2025
Net result
16,5 M €
-34.3% YoY
Equity
88,8 M €
+22.9% YoY

What does BELSKAND do?

BELSKAND is a Public limited company incorporated in 2019. Its registered office is in Waterloo.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0736.950.768
Incorporation
30/10/2019
Legal form
Public limited company
Registered office
Drève Richelle 161 O box 5
1410 Waterloo · WallonieSee on map
Contributed capital
61 500,00 €
Latest accounts
31/12/2025
Contacts
2 public details availableLog in to view
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflow
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 6 financial years

202520242023202220212020
Income statement
EBITDA-82,6 k €-82,4 k €-82,6 k €-82,1 k €-107,4 k €-64,5 k €
Operating result-82,6 k €-85,1 k €-85,8 k €-85,3 k €-110,5 k €-68,1 k €
Net result16,5 M €25,2 M €29,2 M €10,2 M €9,6 M €-2,1 M €
Balance sheet
Equity88,8 M €72,3 M €47,1 M €17,9 M €7,7 M €-2 M €
Total assets88,8 M €72,3 M €72,3 M €72,4 M €72,5 M €80,8 M €
Cash16,5 M €19,7 k €57,5 k €145,6 k €7,7 k €930,7 €
Debts9,2 k €10,4 k €25,2 M €54,5 M €64,8 M €82,7 M €
Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

ALOHA MANAGEMENT

Managing director · since 02 juin 2025 · until 02 juin 2031 · 0705.994.011

Represented by Murielle Degeest

Active
Christian Peter DYVIG

Chairman of the board of directors · since 02 juin 2025 · until 02 juin 2031

Active
Michael Hauge SøRENSEN

Vice-chairman of the board of directors · since 02 juin 2025 · until 02 juin 2031

Active

Ended mandates

Christian Peter DYVIG

Chairman of the board of directors · since 03 juin 2024 · until 02 juin 2025

Ended
Michael Hauge SøRENSEN

Vice-chairman of the board of directors · since 03 juin 2024 · until 02 juin 2025

Ended
Christian Peter Dyvig

Chairman of the board of directors · since 27 mai 2021 · until 03 juin 2021

Ended
Christian Peter DYVIG

Chairman of the board of directors · since 27 mai 2021 · until 03 juin 2024

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202130/10/2019
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 months15 months
Filing date08/07/202618/06/202528/06/202422/06/202305/07/202230/06/2021
General meeting29/06/202602/06/202503/06/202421/06/202324/06/202207/06/2021
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

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202529/06/202608/07/2026FrenchPDF
Full model31/12/202402/06/202518/06/2025FrenchPDF
Full model31/12/202303/06/202428/06/2024FrenchPDF
Full model31/12/202221/06/202322/06/2023FrenchPDF
Full model31/12/202124/06/202205/07/2022FrenchPDF
Full modelCorrection31/12/202007/06/202130/06/2021FrenchPDF
Full model31/12/202007/06/202118/06/2021FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 8 ended

Active mandates

ALOHA MANAGEMENT

Managing director · since 02 juin 2025 · until 02 juin 2031 · 0705.994.011

Represented by Murielle Degeest

Active
Christian Peter DYVIG

Chairman of the board of directors · since 02 juin 2025 · until 02 juin 2031

Active
Michael Hauge SøRENSEN

Vice-chairman of the board of directors · since 02 juin 2025 · until 02 juin 2031

Active

Ended mandates

Christian Peter DYVIG

Chairman of the board of directors · since 03 juin 2024 · until 02 juin 2025

Ended
Michael Hauge SøRENSEN

Vice-chairman of the board of directors · since 03 juin 2024 · until 02 juin 2025

Ended
Christian Peter Dyvig

Chairman of the board of directors · since 27 mai 2021 · until 03 juin 2021

Ended
Christian Peter DYVIG

Chairman of the board of directors · since 27 mai 2021 · until 03 juin 2024

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates27/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates10/07/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates08/08/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates27/11/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates18/10/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office07/06/2021
    SIEGE SOCIAL
    PDF
  • Mandates04/12/2019
    DEMISSIONS, NOMINATIONS
    PDF
  • Other04/11/2019
    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 202516,5 M €↓
  2. 02/06/2025
    reconductionALOHA MANAGEMENT srl — Administrateur
  3. 02/06/2025
    reconductionChristian Peter DYVIG — Administrateur
  4. 02/06/2025
    reconductionMichael Hauge SeRENSEN — Administrateur
  5. 02/06/2025
    nominationChristian Peter DYVIG — Président du Conseil d'Administration
  6. 02/06/2025
    nominationALOHA MANAGEMENT srl — administrateur-délégué
  7. 2024
    Annual accounts 202425,2 M €↓
  8. 03/06/2024
    reconductionChristian Peter DYVIG — Administrateur
  9. 03/06/2024
    reconductionMichael Hauge SaRENSEN — Administrateur
  10. 03/06/2024
    nominationPeter Christian DYVIG — Président du Conseil
  11. 03/06/2024
    nominationMurielle Degeest — Administrateur-délégué
  12. 2023
    Annual accounts 202329,2 M €↑
  13. 2022
    Annual accounts 202210,2 M €↑
  14. 2021
    Annual accounts 20219,6 M €↑
  15. 2020
    Annual accounts 2020-2,1 M €
  16. 30/10/2019
    IncorporationPublic limited company