Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
BLUE STAR from Merelbeke-Melle, company number BE0400125790, closed financial year 2025 with a result of € -59,410 after tax. For that financial year BLUE STAR recorded a gross margin of € 281,788 and equity of € 880,397. Compared with financial year 2024, the result moved from € -141,584 to € -59,410. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 1, 2026.
€ 880,397
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -59,410
▲ 58 % less loss than in 2024
Profit after tax over the fiscal year.
€ 36,618
▲ 226% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 79,858.
People and assets in 2025
€ 305,485
▼ 6% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,739
▼ 36% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 50,000
Loans from banks and other lenders, long and short.
€ 45,894
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 50,778
▲ 24% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 445,941 | € 248,444 | € 214,867 | € 281,788 | ▲ 31% |
| Profit after taxes | € 14,396 | € -153,357 | € -141,584 | € -59,410 | ▲ € 82,173 |
| Equity | € 1,234,749 | € 1,081,392 | € 939,808 | € 880,397 | ▼ 6% |
| Total debts | € 88,919 | € 228,819 | € 116,590 | € 181,172 | ▲ 55% |
| Cash | € 21,424 | € 7,570 | € 11,246 | € 36,618 | ▲ 226% |
| Retained profit | € 434,210 | € 280,853 | € 139,269 | € 79,858 | ▼ 43% |
| Bank debt | € 0 | € 85,000 | € 0 | € 50,000 | |
| Balance sheet total | € 1,323,668 | € 1,310,211 | € 1,056,398 | € 1,061,570 | |
| Employees (FTE) | 10.4 | 10.9 | 11.6 | - |
Key figures of BLUE STAR, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to BLUE STAR?
What happened at BLUE STAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- BC MANAGEMENT BV stepped down as director. NBB
- Gudrun GHYS stepped down as director. NBB
- MGSL BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 59,410. Source: NBB ↗
- Gudrun GHYS became a director. NBB
- BC MANAGEMENT BV became a director. NBB
- MGSL BV became a director. NBB
- New establishment in Merelbeke-Melle. KBO
In short
From € 14,396 profit in 2022 to € 59,410 loss in 2025.
Paid € 1,328 in corporate taxes since 2022.
Best year ever: 2022, with € 14,396 profit.
On average € 18,500 of value added per employee in 2024.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of leather company comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BLUE STARThe shares are held by leather company (82.3%).
Directors
According to the 2025 annual accounts
Managing director · represented by CORTHALS Bernard
Also active at: leather company, BLUE STAR IMMO
since 2010 · until 2028
Gudrun GHYS
Director
since 2019 · until 2028
Managing director · represented by CORTHALS Michel
Also active at: leather company, BLUE STAR IMMO
since 2010 · until 2028
Shareholders
82.3%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Gontrode Heirweg 324
9090 Merelbeke-Melle
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0400.125.790
- VAT number
- BE 0400.125.790
- Registered office
- Gontrode Heirweg 324, 9090 Merelbeke-Melle
- Names & denominations
- BLUE STAR
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1929
- Peppol
- Active · Active since 24 Sept 2025
- Activities · NACE
Vervaardiging van overige kleding en toebehoren, neg
Vervaardiging van overige kleding en kledingaccessoires, n.e.g.
Vervaardiging van andere kleding en toebehoren, n.e.g.