Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 23 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BELFORM EUROPE from Hasselt, company number BE0405523643, closed financial year 2025 with a result of € -998,337 after tax. For that financial year BELFORM EUROPE recorded a gross margin of € -353,871 and equity of € -667,085. Compared with financial year 2024, the result moved from € -392,861 to € -998,337. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 27, 2026.
€ -667,085
▼ € 998,337 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -998,337
▼ 154 % more loss than in 2024
Profit after tax over the fiscal year.
€ 90,401
▲ 37% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.2 million.
People and assets in 2025
12
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 657,815
▲ 29% vs 2024
€ 54,800 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.
€ 184,543
▼ 22% vs 2024
Of which on lease € 179,602.
Debts at end 2025
€ 694,213
▼ 12% vs 2024
€ 47,511 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 1.2 million
▲ 129% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 25,837
▲ 27% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 940,252 | € 414,264 | € 336,835 | € -353,871 | ▼ € 690,706 |
| Profit after taxes | € 350,436 | € -25,887 | € -392,861 | € -998,337 | ▼ € 605,476 |
| Equity | € 1,895,352 | € 724,113 | € 331,252 | € -667,085 | ▼ € 998,337 |
| Total debts | € 214,972 | € 471,850 | € 1,323,069 | € 2,071,766 | ▲ 57% |
| Cash | € 718,488 | € 126,924 | € 66,160 | € 90,401 | ▲ 37% |
| Retained profit | € 1,345,352 | € 174,113 | € -218,748 | € -1,217,085 | ▼ € 998,337 |
| Dividend | € 0 | € 1,145,352 | € 0 | € 0 | |
| Bank debt | € 7 | € 0 | € 785,095 | € 694,213 | ▼ 12% |
| Balance sheet total | € 2,129,257 | € 1,213,676 | € 1,669,953 | € 1,416,887 | ▼ 15% |
| Employees (FTE) | 9.2 | 8.6 | 11 | 12 | ▲ 1 |
Key figures of BELFORM EUROPE, 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 BELFORM EUROPE?
What happened at BELFORM EUROPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- SITAL INVEST NV stepped down as director. NBB
- ADCOR BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 998,337. filed late Source: NBB ↗
- SITAL INVEST NV became a director. NBB
- ADCOR BV became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Hasselt. KBO
In short
From € 350,436 profit in 2022 to € 998,337 loss in 2025.
Paid € 124,250 in corporate taxes since 2022.
Best year ever: 2022, with € 350,436 profit.
On average € 30,600 of value added per employee in 2024.
A new publication or filing at BELFORM EUROPE? We notify you, reason included.
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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
Directors
According to the 2025 annual accounts
Director · represented by Philippe CORTHOUTS
since 2023 · until 2029
Managing director · represented by Adrien CORTHOUTS
Also active at: SOMA, SLEEPING SOLUTIONS PRODUCTION, SOFABED EUROPE
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Ekkelgaarden 6A
3500 Hasselt
Ekkelgaarden 6 box A
3500 Hasselt
Active since 1 July 1964
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.523.643
- VAT number
- BE 0405.523.643
- Registered office
- Ekkelgaarden 6A, 3500 Hasselt
- Names & denominations
- BELFORM EUROPE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 30 Dec 2025
- Activities · NACE
Vervaardiging van stoelen en zitmeubelen voor woningen en kantoren
Vervaardiging van eetkamer-, zitkamer-, slaapkamer- en badkamermeubelen
Vervaardiging van eetkamer-, zitkamer- en slaapkamermeubelen