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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Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2024; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 21.9 to 18.4.
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Legal situation KBO
Opening faillissement according to the CBE.
Financials
Financial year 2024
Belga-Films from Braine-l'Alleud, company number BE0407652101, closed financial year 2024 with a result of € -1.6 million after tax. For that financial year Belga-Films recorded revenue of € 12.4 million and equity of € 9.5 million. Compared with financial year 2023, the result moved from € 479,170 to € -1.6 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on September 25, 2025.
€ 9.5 million
▼ 14% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.6 million
▼ still € 479,170 profit in 2023
Profit after tax over the fiscal year.
€ 382,848
▲ 124% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 249,508.
People and assets in 2024
18.4
▼ 0.9 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 2 million
▼ 7% vs 2023
€ 109,100 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.
€ 14,303
▼ 15% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 14 million
▼ 11% vs 2023
€ 1.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 5.4 million
▼ 33% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 149 days on average.
€ 294,549
▼ 1% vs 2023
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 13,941,865 | € 12,268,370 | € 19,455,209 | € 12,407,028 | ▼ 36% |
| Profit after taxes | € -1,305,803 | € 594,261 | € 479,170 | € -1,592,238 | ▼ € 2.1 million |
| Equity | € 9,984,691 | € 10,578,952 | € 11,058,122 | € 9,465,884 | ▼ 14% |
| Total debts | € 21,942,863 | € 21,381,345 | € 26,845,979 | € 22,504,655 | ▼ 16% |
| Cash | € 428,371 | € 339,179 | € 171,122 | € 382,848 | ▲ 124% |
| Retained profit | € 768,315 | € 1,362,576 | € 1,841,746 | € 249,508 | ▼ 86% |
| Bank debt | € 16,443,065 | € 14,894,935 | € 15,670,320 | € 14,017,990 | ▼ 11% |
| Balance sheet total | € 32,070,600 | € 32,086,066 | € 38,066,948 | € 32,019,118 | ▼ 16% |
| Employees (FTE) | 24.8 | 21.9 | 19.3 | 18.4 | ▼ 0.9 |
Key figures of Belga-Films, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to Belga-Films?
What happened at Belga-Films in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
Belga-Films is active according to the CBE. Legal situation: Opening faillissement.
- Tina RATA stepped down as director. NBB
- Alexandre LIPPENS stepped down as director. NBB
- Jérôme DE BETHUNE stepped down as director. NBB
- Patrick VANDENBOSCH stepped down as director. NBB
- WALLIMAGE SA stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 1.6 million (▼ € 2.1 million vs 2023). filed late Source: NBB ↗
- Tina RATA became a director. NBB
- Alexandre LIPPENS became a director. NBB
In short
From € 1.3 million loss in 2021 to € 1.6 million loss in 2024.
Paid € 27,964 in corporate taxes since 2021.
Best year ever: 2022, with € 594,261 profit.
Pays suppliers within 149 days on average.
Management
The stake of BENELUX MEDIA INVESTMENT HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Belga-FilmsThe shares are held by BENELUX MEDIA INVESTMENT HOLDING (22.5%). It owns 100% of INDEPENDENT FILMS NEDERLAND BV, 99% of MEDIACINE, 99% of BELGA PICTURES, 98% of BELGA REAL ESTATE, 98% of WHITE CINEMA BRUSSELS and 60% of BELGA STUDIOS itself.
Directors
According to the 2024 annual accounts
Tina RATA
Director
since 2023 · until 2029
since 2023 · until 2029
Patrick VANDENBOSCH
Managing director
Also active at: nWave Studios, WHITE CINEMA BRUSSELS, BELGA REAL ESTATE
since 2023 · until 2029
Director · represented by Virginie NOUVELLE
Also active at: nWave Studios, The Pack, N-ZONE, CYANVIEW, Belgian Heroes, Lucky Way Game, SUPERBE, LA NICHE +10 more
since 2023 · until 2029
Shareholders
Participations
INDEPENDENT FILMS NEDERLAND BV
100%
99%
99%
60%
37%
Establishments
Establishment units
Physical locations of this company
Avenue du Japon 14
1420 Braine-l'Alleud
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →BELGA PICTURES same network
UNITE TVA-C2 PROJECT
F² IMMO
€ 135,811 gross margin · 2025
C2 Project
€ 1.5 million gross margin · 2025
BELGA REAL ESTATE same network
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0407.652.101
- VAT number
- BE 0407.652.101
- Registered office
- Avenue du Japon 14, 1420 Braine-l'Alleud
- Names & denominations
- Belga-Films
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Opening faillissement
- Start date
- 3 December 1970
- Peppol
- Active · Active since 28 Nov 2025
- Activities · NACE
Activiteiten op het gebied van de distributie van films en video’s
Distributie van films