ACTIVE

Belse Heide

Export PDF
Financial year 2025 · closed on 31/12/2025
Net result
603,8 k €
+11.3% YoY
Gross margin
52,8 k €
-32.1% YoY
Equity
5,6 M €
+12.2% YoY

What does Belse Heide do?

Belse Heide is a Public limited company incorporated in 2011. Its main activity is: Development of building projects. Its registered office is in Geel.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0837.366.752
Incorporation
29/06/2011
Legal form
Public limited company
Registered office
Belsehei 19
2440 Geel · FlandreSee on map
Contributed capital
1 877 195,40 €
Latest accounts
31/12/2025
Activities (NACE)
41102Development of building projects· main68122Buying and selling of own real estate
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
Available with a Rovalta subscriptionTry for 7 days
Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021202020192018201720162015201420132012
Income statement
Gross margin52,8 k €77,8 k €33,9 k €-10,8 k €-35 k €12,3 k €82,6 k €31,4 k €186,7 k €-22,9 k €6,1 k €37,1 k €586,3 k €261,2 k €
EBITDA52,2 k €77,2 k €33,4 k €-11,9 k €-36,2 k €11,1 k €81,4 k €29,3 k €186,1 k €-23,4 k €5,6 k €36,4 k €585,7 k €260,3 k €
Operating result32,5 k €57,4 k €13 k €-15,2 k €-49,4 k €-3,8 k €66,5 k €14,8 k €171,5 k €-34,3 k €-4,6 k €26 k €575,3 k €250,5 k €
Net result603,8 k €542,6 k €374,8 k €175 k €122,5 k €226,2 k €112 k €92,6 k €797,5 k €-1,8 k €-36,9 k €-1,9 k €369,8 k €164,7 k €
Balance sheet
Equity5,6 M €5 M €4,4 M €4 M €3,9 M €3,7 M €3,5 M €3,4 M €3,3 M €1,1 M €1,1 M €1,2 M €1 M €664,7 k €
Total assets6,6 M €6 M €6,2 M €5,7 M €5,5 M €5,5 M €5,2 M €5,1 M €5 M €2,8 M €2,8 M €2,8 M €2,7 M €1,4 M €
Cash1,5 M €34,3 k €454 k €1,9 M €1,6 M €1,5 M €694,7 k €256,3 k €1,7 M €693 k €88,7 k €204,4 k €23,2 k €790,6 k €
Debts978,9 k €981,4 k €1,6 M €1,6 M €1,6 M €1,7 M €1,6 M €1,6 M €1,6 M €1,6 M €1,6 M €1,6 M €1,6 M €679,4 k €
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 · 6 ended

Active mandates

Ina Decat

Mandate

Active
Wouter Rutten

Mandate

Active

Ended mandates

Ina De Cat

Director · since 28 mai 2021 · until 07 juillet 2023

Ended
Antoon Rutten

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
Irene Schuurmans

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
Wouter Rutten

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
At this address

Other companies at this address

CompanyCBE no.
BELSE HEIDE INVEST● Active
0501.747.940
SOLID BUILDING GEEL● Active
0665.599.548
TRIS PLUS● Active
1042.226.891
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 date01/07/202608/10/202508/07/202414/06/202312/08/202228/07/2021
General meeting29/05/202631/05/202531/05/202426/05/202327/05/202228/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days
Filings

Annual accounts filings

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202529/05/202601/07/2026DutchPDF
Abridged model31/12/202431/05/202508/10/2025DutchPDF
Abridged model31/12/202331/05/202408/07/2024DutchPDF
Abridged model31/12/202226/05/202314/06/2023DutchPDF
Abridged model31/12/202127/05/202212/08/2022DutchPDF
Abridged model31/12/202028/05/202128/07/2021DutchPDF
Abridged model31/12/201929/05/202026/08/2020DutchPDF
Abridged model31/12/201831/05/201923/07/2019DutchPDF
Abridged model31/12/201725/05/201829/06/2018DutchPDF
Abridged model31/12/201618/05/201705/07/2017DutchPDF
Abridged model31/12/201527/05/201622/08/2016DutchPDF
Abridged model31/12/201429/05/201501/06/2015DutchPDF
Abridged model31/12/201330/05/201425/06/2014DutchPDF
Abridged model31/12/201231/05/201326/06/2013DutchPDF
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 · 6 ended

Active mandates

Ina Decat

Mandate

Active
Wouter Rutten

Mandate

Active

Ended mandates

Ina De Cat

Director · since 28 mai 2021 · until 07 juillet 2023

Ended
Antoon Rutten

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
Irene Schuurmans

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
Wouter Rutten

Director · since 07 juillet 2017 · until 07 juillet 2023

Ended
Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates21/12/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates14/07/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring11/08/2017
    KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring06/06/2017
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Other01/07/2011
    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 2025603,8 k €↑
  2. 2024
    Annual accounts 2024542,6 k €↑
  3. 2023
    Annual accounts 2023374,8 k €↑
  4. 2022
    Annual accounts 2022175 k €↑
  5. 2021
    Annual accounts 2021122,5 k €↓
  6. 2020
    Annual accounts 2020226,2 k €↑
  7. 2019
    Annual accounts 2019112 k €↑
  8. 2018
    Annual accounts 201892,6 k €↓
  9. 2017
    Annual accounts 2017797,5 k €↑
  10. 2016
    Annual accounts 2016-1,8 k €↑
  11. 2015
    Annual accounts 2015-36,9 k €↓
  12. 2014
    Annual accounts 2014-1,9 k €↓
  13. 2013
    Annual accounts 2013369,8 k €↑
  14. 2012
    Annual accounts 2012164,7 k €
  15. 29/06/2011
    IncorporationPublic limited company