ACTIVE

BELOURTHE

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Financial year 2025 · closed on 31/12/2025

Net result

3,6 M €

+46.7% YoY

Revenue

23,3 M €

+17.4% YoY

Equity

4,7 M €

-47.3% YoY

Workforce

99,8 ETP

+8.8% YoY

What does BELOURTHE do?

BELOURTHE is a Public limited company incorporated in 2005. Its registered office is in Hamoir. It employs on average 99,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0877.958.381

Incorporation

16/12/2005

Legal form

Public limited company

Registered office

Avenue des Villas 3
4180 Hamoir · WallonieSee on map

Contributed capital

312 000,00 €

Latest accounts

31/12/2025

Average workforce

99,8 ETP

Joint committees (3)

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	23,3 M €	+17.4%	19,8 M €	+16.9%	17 M €	-7.9%	18,4 M €	+8.5%	17 M €	+7.3%	15,8 M €	-6.1%	16,8 M €	+6.3%	15,8 M €	+2.2%	15,5 M €	+37.1%	11,3 M €	-1.7%	11,5 M €	-14.5%	13,5 M €	-37.7%	21,6 M €	-24.0%	28,4 M €	+31.1%	21,7 M €	+39.2%	15,6 M €	+71.1%	9,1 M €	+12.0%	8,1 M €	-65.8%	23,8 M €
EBITDA	5,9 M €	+35.6%	4,4 M €	+78.3%	2,4 M €	+19.8%	2 M €	-29.6%	2,9 M €	+3.1%	2,8 M €	-25.2%	3,8 M €	+18.9%	3,2 M €	-17.8%	3,8 M €	+81.3%	2,1 M €	+3.4%	2 M €	-16.5%	2,5 M €	+17.2%	2,1 M €	-27.9%	2,9 M €	-4.2%	3 M €	+25.5%	2,4 M €	+120%	1,1 M €	-2.9%	1,1 M €	-37.0%	1,8 M €
Operating result	4,5 M €	+37.8%	3,3 M €	+143%	1,3 M €	+11.4%	1,2 M €	-40.4%	2 M €	+10.1%	1,8 M €	-35.2%	2,8 M €	+24.8%	2,3 M €	-18.1%	2,8 M €	+132%	1,2 M €	-11.4%	1,4 M €	-30.5%	1,9 M €	+2.3%	1,9 M €	-13.3%	2,2 M €	-16.7%	2,6 M €	+21.9%	2,2 M €	+119%	984 k €	+4.8%	938,5 k €	-35.9%	1,5 M €
Net result	3,6 M €	+46.7%	2,4 M €	+165%	924,5 k €	+11.0%	833,1 k €	-32.9%	1,2 M €	-21.1%	1,6 M €	-19.8%	2 M €	+18.7%	1,7 M €	-7.2%	1,8 M €	+109%	850,8 k €	-25.4%	1,1 M €	-22.0%	1,5 M €	+42.1%	1 M €	+1.5%	1 M €	-46.4%	1,9 M €	+15.9%	1,6 M €	+162%	621,1 k €	-3.7%	644,7 k €	-33.4%	967,4 k €
Balance sheet
Equity	4,7 M €	-47.3%	8,8 M €	+19.2%	7,4 M €	+13.8%	6,5 M €	+14.1%	5,7 M €	+27.0%	4,5 M €	+13.5%	4 M €	+11.9%	3,5 M €	+37.9%	2,6 M €	+7.0%	2,4 M €	+6.8%	2,2 M €	+29.1%	1,7 M €	-49.0%	3,4 M €	-24.7%	4,5 M €	+19.7%	3,8 M €	+46.5%	2,6 M €	+61.8%	1,6 M €	+16.1%	1,4 M €	+7.4%	1,3 M €
Total assets	18,5 M €	+32.5%	13,9 M €	+10.1%	12,7 M €	+6.0%	12 M €	+2.5%	11,7 M €	+4.3%	11,2 M €	+11.7%	10 M €	+1.4%	9,9 M €	-10.7%	11,1 M €	+38.1%	8 M €	+19.6%	6,7 M €	-11.6%	7,6 M €	-18.0%	9,2 M €	+0.9%	9,1 M €	-9.0%	10,1 M €	+29.5%	7,8 M €	+40.3%	5,5 M €	+4.1%	5,3 M €	+19.4%	4,5 M €
Cash	1,8 M €	-15.9%	2,1 M €	+136%	906 k €	+151%	360,8 k €	-26.1%	488,5 k €	-11.9%	554,5 k €	-62.4%	1,5 M €	+79.8%	819,6 k €	-61.2%	2,1 M €	+179%	757,3 k €	-31.3%	1,1 M €	-37.8%	1,8 M €	+195%	600,5 k €	-34.8%	920,6 k €	+135%	391,9 k €	+58.7%	246,9 k €	-51.3%	507,5 k €	-66.4%	1,5 M €	-21.9%	1,9 M €
Debts	13,6 M €	+176%	4,9 M €	+0.3%	4,9 M €	-6.2%	5,2 M €	-6.0%	5,6 M €	-11.0%	6,2 M €	+12.6%	5,5 M €	-3.5%	5,7 M €	-25.3%	7,7 M €	+60.0%	4,8 M €	+27.9%	3,8 M €	-26.3%	5,1 M €	-3.5%	5,3 M €	+31.4%	4 M €	-31.8%	5,9 M €	+26.0%	4,7 M €	+33.3%	3,5 M €	+8.8%	3,2 M €	+67.7%	1,9 M €
Other
Workforce	99,8 ETP	+8.8%	91,7 ETP	+5.2%	87,2 ETP	-3.6%	90,5 ETP	-6.2%	96,5 ETP	+4.0%	92,8 ETP	+1.6%	91,3 ETP	-0.3%	91,6 ETP	+17.4%	78,0 ETP	+15.0%	67,8 ETP	+1.6%	66,7 ETP	+2.6%	65,0 ETP	-4.1%	67,8 ETP	-5.2%	71,5 ETP	+21.2%	59,0 ETP	+9.3%	54,0 ETP	+16.1%	46,5 ETP	+11.2%	41,8 ETP	+12.1%	37,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 13 ended

Active mandates

Gilles CRAHAY

Director · since 07 septembre 2023 · until 12 juin 2029

Active

Muriel D'HOSE

Director · since 07 septembre 2023 · until 12 juin 2029

Active

VINCRA FOOD

Chairman of the board of directors · since 07 septembre 2023 · until 12 juin 2029 · 0877.973.328

Represented by Vincent CRAHAY

Active

Ended mandates

Gilles CRAHAY

Director · since 04 septembre 2019 · until 10 juin 2025

Ended

Muriel D'HOSE

Director · since 27 juin 2017 · until 13 juin 2023

Ended

VINCRA FOOD

Chairman of the board of directors · since 27 juin 2017 · until 13 juin 2023 · 0877.973.328

Represented by Vincent CRAHAY

Ended

Muriel D'HOSE

Director · since 25 novembre 2011 · until 13 juin 2017

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	27/08/2026	17/06/2025	27/06/2024	06/12/2023	06/12/2023	08/07/2021
General meeting	27/08/2026	10/06/2025	11/06/2024	01/12/2023	01/12/2023	22/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/08/2026	27/08/2026	French	PDF
Full model	31/12/2024	10/06/2025	17/06/2025	French	PDF
Full model	31/12/2023	11/06/2024	27/06/2024	French	PDF
Full model	31/12/2022	01/12/2023	06/12/2023	French	PDF
Full model	31/12/2021	01/12/2023	06/12/2023	French	PDF
Full model	31/12/2020	22/06/2021	08/07/2021	French	PDF
Full model	31/12/2019	09/06/2020	10/06/2020	French	PDF
Full model	31/12/2018	10/05/2019	31/05/2019	French	PDF
Full model	31/12/2017	12/06/2018	15/06/2018	French	PDF
Full model	31/12/2016	27/06/2017	28/07/2017	French	PDF
Full model	31/12/2015	23/06/2016	07/07/2016	French	PDF
Full model	31/12/2014	09/06/2015	24/07/2015	French	PDF
Full model	31/12/2013	10/06/2014	20/06/2014	French	PDF
Full model	31/12/2012	25/06/2013	03/07/2013	French	PDF
Full model	30/06/2011	24/11/2011	21/12/2011	French	PDF
Full model	30/06/2010	30/11/2010	10/12/2010	French	PDF
Full model	30/06/2009	10/11/2009	30/11/2009	French	PDF
Full model	30/06/2008	11/12/2008	08/01/2009	French	PDF
Full model	30/06/2007	08/10/2007	06/11/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 13 ended

Active mandates

Gilles CRAHAY

Director · since 07 septembre 2023 · until 12 juin 2029

Active

Muriel D'HOSE

Director · since 07 septembre 2023 · until 12 juin 2029

Active

VINCRA FOOD

Chairman of the board of directors · since 07 septembre 2023 · until 12 juin 2029 · 0877.973.328

Represented by Vincent CRAHAY

Active

Ended mandates

Gilles CRAHAY

Director · since 04 septembre 2019 · until 10 juin 2025

Ended

Muriel D'HOSE

Director · since 27 juin 2017 · until 13 juin 2023

Ended

VINCRA FOOD

Chairman of the board of directors · since 27 juin 2017 · until 13 juin 2023 · 0877.973.328

Represented by Vincent CRAHAY

Ended

Muriel D'HOSE

Director · since 25 novembre 2011 · until 13 juin 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates12/07/2024
DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/10/2023
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/09/2023
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/04/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates09/11/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates24/10/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates20/06/2019
DEMISSIONS, NOMINATIONS
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

2025
Annual accounts 20253,6 M €↑
2024
Annual accounts 20242,4 M €↑
2023
Annual accounts 2023924,5 k €↑
2022
Annual accounts 2022833,1 k €↓
2021
Annual accounts 20211,2 M €↓
2020
Annual accounts 20201,6 M €↓
2019
Annual accounts 20192 M €↑
2018
Annual accounts 20181,7 M €↓
2017
Annual accounts 20171,8 M €↑
2016
Annual accounts 2016850,8 k €↓
2015
Annual accounts 20151,1 M €↓
2014
Annual accounts 20141,5 M €↑
2013
Annual accounts 20131 M €↑
2012
Annual accounts 20121 M €↓
2011
Annual accounts 20111,9 M €↑
2010
Annual accounts 20101,6 M €↑
2009
Annual accounts 2009621,1 k €↓
2008
Annual accounts 2008644,7 k €↓
2007
Annual accounts 2007967,4 k €
16/12/2005
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

BELOURTHE

Overview

What does BELOURTHE do?

Trend over 19 financial years

Indicative valuation

Board of directors

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