Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
Royal Etrier Belge from Brussel, company number BE0403007185, closed financial year 2025 with a result of € -5,618 after tax. For that financial year Royal Etrier Belge recorded a gross margin of € 246,681 and equity of € 512,798. Compared with financial year 2024, the result moved from € -60,906 to € -5,618. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 512,798
▲ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5,618
▲ 91 % less loss than in 2024
Profit after tax over the fiscal year.
€ 88,793
▲ 119% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -203,073.
People and assets in 2025
2.8
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 105,234
▲ 4% vs 2024
€ 37,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 78,555
▲ 42% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 31,751
▲ 76% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 23,215
▲ 8% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 136,030 | € 116,595 | € 172,756 | € 246,681 | ▲ 43% |
| Profit after taxes | € -45,092 | € -108,417 | € -60,906 | € -5,618 | ▲ € 55,288 |
| Equity | € 393,988 | € 475,571 | € 414,666 | € 512,798 | ▲ 24% |
| Total debts | € 57,499 | € 72,767 | € 69,356 | € 88,918 | ▲ 28% |
| Cash | € 106,662 | € 127,161 | € 40,573 | € 88,793 | ▲ 119% |
| Land & buildings | € 107,244 | € 89,553 | € 71,998 | € 54,714 | ▼ 24% |
| Retained profit | € -28,133 | € -136,550 | € -197,456 | € -203,073 | ▼ € 5,618 |
| Balance sheet total | € 451,487 | € 548,338 | € 484,022 | € 601,716 | ▲ 24% |
| Employees (FTE) | - | - | 2.7 | 2.8 | ▲ 0.1 |
Key figures of Royal Etrier Belge, 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 Royal Etrier Belge?
What happened at Royal Etrier Belge in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 5,618. Source: NBB ↗
- Start of the company according to the CBE. KBO
- New establishment in Brussel. KBO
In short
From € 45,092 loss in 2022 to € 5,618 loss in 2025.
Paid € 48 in corporate taxes since 2022.
On average € 88,100 of value added per employee in 2025.
Management
Behind Royal Etrier Belge are Fabrice Moulon Beernaert, Roger Clerc, Dider Chalot and Laurent Kirsch. Roger Clerc is also behind Cercle Hippique de l'Etrier. Laurent Kirsch is also behind S.A Therabel-Pharma N.V., THERABEL IMMO and THERABEL INTERNATIONAL SERVICES.
Directors
According to the 2025 annual accounts
Fabrice Moulon Beernaert
Chairman of the board
Dider Chalot
Director
Laurent Kirsch
Managing director
Also active at: S.A Therabel-Pharma N.V., THERABEL IMMO, THERABEL INTERNATIONAL SERVICES
Establishments
Establishment units
Physical locations of this company
Groenejagersveld 19
1000 Brussel
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
- 0403.007.185
- VAT number
- BE 0403.007.185
- Registered office
- Groenejagersveld 19, 1000 Brussel
- Names & denominations
- Royal Etrier Belge
- Enterprise type
- Rechtspersoon
- Legal form
- Cooperative company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Exploitatie van overige sportinstallaties en -accomodaties
Exploitatie van sportaccommodaties
Overige sportactiviteiten, neg
Overige activiteiten i.v.m. de sportbeoefening
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Fokken en houden van schapen en geiten
Schapen-, geiten-, paarden-, ezel-, muildieren- of muilezelhouderij