ACTIVE

BELOR

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

36,9 k €

-14.3% YoY

Gross margin

1,5 M €

-1.0% YoY

Equity

1,2 M €

+3.1% YoY

Workforce

15,4 ETP

-4.3% YoY

What does BELOR do?

BELOR is a Non-profit organization incorporated in 2007. Its main activity is: Technical testing and analysis. Its registered office is in Jodoigne. It employs on average 15,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0888.990.449

Incorporation

18/04/2007

Legal form

Non-profit organization

Registered office

Rue de Fonteny(S.-R.-G.) 20
1370 Jodoigne · WallonieSee on map

Latest accounts

31/12/2025

Average workforce

15,4 ETP

Activities (NACE)

71209Technical testing and analysis· main 71209Technical testing and analysis 74302Translation and interpretation activities

Joint committees (1)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	1,5 M €	-1.0%	1,5 M €	+0.5%	1,5 M €	+24.3%	1,2 M €	+13.9%	1,1 M €	-15.6%	1,3 M €	-4.5%	1,3 M €	+2.7%	1,3 M €	+7.4%	1,2 M €	+30.2%	936,1 k €	+2.4%	914 k €	-11.3%	1 M €	-15.4%	1,2 M €	+3.7%	1,2 M €	-3.6%	1,2 M €	+23.2%	988 k €	+51.5%	652 k €
EBITDA	169,3 k €	-6.8%	181,7 k €	-17.5%	220,1 k €	+180%	78,5 k €	+196%	26,5 k €	-87.2%	206,5 k €	-28.8%	289,9 k €	-15.5%	343,2 k €	+43.6%	239,1 k €	+299%	59,9 k €	+95.1%	30,7 k €	-76.7%	131,7 k €	-50.5%	265,8 k €	+18.5%	224,3 k €	-16.4%	268,4 k €	-17.5%	325,4 k €	+71.4%	189,8 k €
Operating result	87,6 k €	-11.6%	99,1 k €	-33.4%	148,8 k €	+288%	38,4 k €	+216%	-33,1 k €	-122%	147,2 k €	-36.9%	233,3 k €	-13.6%	270 k €	+92.2%	140,5 k €	+762%	-21,2 k €	+57.0%	-49,4 k €	-1065%	5,1 k €	-97.3%	186,5 k €	+7.8%	173,1 k €	-21.9%	221,6 k €	-29.2%	313 k €	+79.9%	174 k €
Net result	36,9 k €	-14.3%	43,1 k €	-48.4%	83,5 k €	+1980%	4 k €	+108%	-49 k €	-158%	84,4 k €	-40.6%	142,1 k €	-15.7%	168,6 k €	+137%	71,2 k €	+375%	-25,9 k €	+51.9%	-53,9 k €	-1542%	-3,3 k €	-103%	105,9 k €	-37.9%	170,5 k €	+461%	-47,3 k €	-116%	304 k €	+84.7%	164,6 k €
Balance sheet
Equity	1,2 M €	+3.1%	1,2 M €	+3.7%	1,2 M €	+7.8%	1,1 M €	+0.4%	1,1 M €	-4.4%	1,1 M €	+8.2%	1 M €	+16.1%	885,3 k €	+23.5%	716,7 k €	+10.6%	648,3 k €	-3.8%	674,2 k €	-7.4%	728,2 k €	-0.4%	731,5 k €	+16.9%	625,5 k €	+12.0%	558,7 k €	-7.8%	606 k €	+101%	302 k €
Total assets	1,7 M €	+1.9%	1,6 M €	+4.1%	1,6 M €	-2.3%	1,6 M €	+19.7%	1,4 M €	-2.3%	1,4 M €	+8.2%	1,3 M €	-2.8%	1,3 M €	+12.8%	1,2 M €	+20.7%	965,2 k €	-0.8%	972,9 k €	-8.4%	1,1 M €	-4.4%	1,1 M €	+15.1%	965 k €	+1.8%	947,8 k €	+34.3%	705,5 k €	+47.0%	479,8 k €
Cash	776 k €	+1.0%	768,2 k €	+18.9%	646,2 k €	+21.8%	530,7 k €	+13.4%	467,9 k €	+31.1%	357 k €	-20.5%	449 k €	-0.4%	450,6 k €	+609%	63,6 k €	-17.1%	76,7 k €	-23.7%	100,5 k €	-29.9%	143,3 k €	-39.8%	237,9 k €	+372%	50,4 k €	-77.3%	221,8 k €	+0.3%	221 k €	-14.6%	258,7 k €
Debts	442,7 k €	-0.9%	446,8 k €	+4.5%	427,8 k €	-21.9%	547,5 k €	+91.0%	286,6 k €	+6.5%	269 k €	+9.1%	246,7 k €	-23.2%	321,3 k €	-28.1%	447,2 k €	+41.6%	315,9 k €	+6.1%	297,8 k €	-10.7%	333,5 k €	-12.1%	379,6 k €	+11.8%	339,4 k €	-12.8%	389,1 k €	+291%	99,5 k €	-43.9%	177,3 k €
Other
Workforce	15,4 ETP	-4.3%	16,1 ETP	-5.8%	17,1 ETP	+10.3%	15,5 ETP	+0.6%	15,4 ETP	-1.9%	15,7 ETP	+2.6%	15,3 ETP	+5.5%	14,5 ETP	-3.3%	15,0 ETP	+25.0%	12,0 ETP	0.0%	12,0 ETP	-2.4%	12,3 ETP	-13.4%	14,2 ETP	-6.6%	15,2 ETP	-10.1%	16,9 ETP	+33.1%	12,7 ETP	+54.9%	8,2 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 · 3 active

Active mandates

Laurent JOREZ

Director

Active

Olivier HANNAERT

Mandate

Active

Stéphane SABLON

Director

Active

Annual accounts

Full financial information

	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	03/06/2026	02/06/2025	22/05/2024	03/07/2023	09/05/2022	30/07/2021
General meeting	04/05/2026	12/05/2025	15/05/2024	02/05/2023	02/05/2022	10/05/2021
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

Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	04/05/2026	03/06/2026	French	PDF
Abridged model	31/12/2024	12/05/2025	02/06/2025	French	PDF
Abridged model	31/12/2023	15/05/2024	22/05/2024	French	PDF
Abridged model	31/12/2022	02/05/2023	03/07/2023	French	PDF
Abridged model	31/12/2021	02/05/2022	09/05/2022	French	PDF
Abridged model	31/12/2020	10/05/2021	30/07/2021	French	PDF
Abridged model	31/12/2019	04/06/2020	28/10/2020	French	PDF
Abridged model	31/12/2018	06/05/2019	22/07/2019	French	PDF
Abridged model	31/12/2017	17/05/2018	26/07/2018	French	PDF
Abridged model	31/12/2016	16/05/2017	18/05/2017	French	PDF
Abridged model	31/12/2015	12/05/2016	13/05/2016	French	PDF
Abridged model	31/12/2014	12/05/2015	31/07/2015	French	PDF
Abridged model	31/12/2013	09/05/2014	31/08/2014	French	PDF
Abridged model	31/12/2012	06/05/2013	25/07/2013	French	PDF
Abridged model	31/12/2011	31/05/2012	31/07/2012	French	PDF
Abridged model	31/12/2010	02/05/2011	31/07/2011	French	PDF
Abridged model	31/12/2009	26/05/2010	10/08/2010	French	PDF

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 · 3 active

Active mandates

Laurent JOREZ

Director

Active

Olivier HANNAERT

Mandate

Active

Stéphane SABLON

Director

Active

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/05/2025
DEMISSIONS, NOMINATIONS
PDF
Other21/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - OBJET
PDF
Mandates20/06/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates23/12/2014
DEMISSIONS, NOMINATIONS
PDF
Registered office10/03/2008
SIEGE SOCIAL
PDF
Other03/05/2007
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

2025
Annual accounts 202536,9 k €↓
2024
Annual accounts 202443,1 k €↓
2023
Annual accounts 202383,5 k €↑
2022
Annual accounts 20224 k €↑
2021
Annual accounts 2021-49 k €↓
2020
Annual accounts 202084,4 k €↓
2019
Annual accounts 2019142,1 k €↓
2018
Annual accounts 2018168,6 k €↑
2017
Annual accounts 201771,2 k €↑
2016
Annual accounts 2016-25,9 k €↑
2015
Annual accounts 2015-53,9 k €↓
2014
Annual accounts 2014-3,3 k €↓
2013
Annual accounts 2013105,9 k €↓
2012
Annual accounts 2012170,5 k €↑
2011
Annual accounts 2011-47,3 k €↓
2010
Annual accounts 2010304 k €↑
2009
Annual accounts 2009164,6 k €
18/04/2007
IncorporationNon-profit organization

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

BELOR

Overview

What does BELOR do?

Trend over 17 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