ACTIVE

Belse Heide

Financial year 2025 · Closed on 31/12/2025

Net result603,8 k €+11,3 %over 1 year

Gross margin52,8 k €-32,1 %over 1 year

Equity5,6 M €+12,2 %over 1 year

Identity

Source · BCE/KBO

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· main 68122Buying and selling of own real estate

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 14 filings

Trend over 14 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	52,8 k €	-32.1%	77,8 k €	+130%	33,9 k €	+415%	-10,8 k €	+69.3%	-35 k €
EBITDA	52,2 k €	-32.4%	77,2 k €	+131%	33,4 k €	+379%	-11,9 k €	+67.0%	-36,2 k €
Operating result	32,5 k €	-43.4%	57,4 k €	+342%	13 k €	+186%	-15,2 k €	+69.3%	-49,4 k €
Net result	603,8 k €	+11.3%	542,6 k €	+44.8%	374,8 k €	+114%	175 k €	+42.8%	122,5 k €
Balance sheet
Equity	5,6 M €	+12.2%	5 M €	+12.3%	4,4 M €	+9.3%	4 M €	+4.5%	3,9 M €
Total assets	6,6 M €	+9.1%	6 M €	-1.8%	6,2 M €	+7.5%	5,7 M €	+3.4%	5,5 M €
Cash	1,5 M €	+4288%	34,3 k €	-92.5%	454 k €	-76.5%	1,9 M €	+18.1%	1,6 M €
Debts	978,9 k €	-0.3%	981,4 k €	-39.7%	1,6 M €	+0.4%	1,6 M €	-0.4%	1,6 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Wouter Rutten	MandateDirector28/06/2011 → 2022 accountsendedManager28/06/2011 → 2016 accountsended
Ina Decat	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ina De Cat	Director28/05/2021 → 2022 accounts
Antoon Rutten	Director07/07/2017 → 2020 accounts
Irene Schuurmans	Director07/07/2017 → 2020 accounts

Other companies at this address

Belsehei 19 2440 Geel

Company	CBE no.
BELSE HEIDE INVEST● Active	0501.747.940
SOLID BUILDING GEEL● Active	0665.599.548
TRIS PLUS● Active	1042.226.891

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	01/07/2026	08/10/2025	08/07/2024	14/06/2023	12/08/2022	28/07/2021
General meeting	29/05/2026	31/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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, 14 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/05/2026	01/07/2026	Dutch	PDF
Abridged model	31/12/2024	31/05/2025	08/10/2025	Dutch	PDF
Abridged model	31/12/2023	31/05/2024	08/07/2024	Dutch	PDF
Abridged model	31/12/2022	26/05/2023	14/06/2023	Dutch	PDF
Abridged model	31/12/2021	27/05/2022	12/08/2022	Dutch	PDF
Abridged model	31/12/2020	28/05/2021	28/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	26/08/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	23/07/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	29/06/2018	Dutch	PDF
Abridged model	31/12/2016	18/05/2017	05/07/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	22/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	01/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	25/06/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	26/06/2013	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Wouter Rutten	MandateDirector28/06/2011 → 2022 accountsendedManager28/06/2011 → 2016 accountsended
Ina Decat	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ina De Cat	Director28/05/2021 → 2022 accounts
Antoon Rutten	Director07/07/2017 → 2020 accounts
Irene Schuurmans	Director07/07/2017 → 2020 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

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

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings14 filings

Mandates

Ina Decat

Wouter Rutten

Ina De Cat

Antoon Rutten

Irene Schuurmans

2011201220132014201520162017201820192020202120222023202420252026

Belse Heide

Belsehei 19, 2440 Geel

DirectorManager

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Belsehei 19, 2440 GeelCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00269992

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Belse HeideCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00269992

Events

2025
Annual accounts 2025603,8 k €↑
2024
Annual accounts 2024542,6 k €↑
2023
Annual accounts 2023374,8 k €↑
2022
Annual accounts 2022175 k €↑
2021
Annual accounts 2021122,5 k €↓
2020
Annual accounts 2020226,2 k €↑
2019
Annual accounts 2019112 k €↑
2018
Annual accounts 201892,6 k €↓
2017
Annual accounts 2017797,5 k €↑
2016
Annual accounts 2016-1,8 k €↑
2015
Annual accounts 2015-36,9 k €↓
2014
Annual accounts 2014-1,9 k €↓
2013
Annual accounts 2013369,8 k €↑
2012
Annual accounts 2012164,7 k €
29/06/2011
IncorporationPublic limited company

Belse Heide

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