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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Negative equity NBB
More debt than assets in 4 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 1 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2024.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
BELGIAN TRADING COMPANY from Ieper, company number BE0441998316, closed financial year 2025 with a result of € -88,164 after tax. Compared with financial year 2024, the result moved from € -34,586 to € -88,164. 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 October 15, 2026.
€ -314,131
▼ € 88,164 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -88,164
▼ 155 % more loss than in 2024
Profit after tax over the fiscal year.
€ 211
▲ 209% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -375,631.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 22,205
▼ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -10,825 | € -13,280 | - | - | |
| Profit after taxes | € -11,782 | € -27,320 | € -34,586 | € -88,164 | ▼ € 53,578 |
| Equity | € -164,061 | € -191,381 | € -225,967 | € -314,131 | ▼ € 88,164 |
| Total debts | € 220,191 | € 250,518 | € 286,843 | € 314,343 | ▲ 10% |
| Cash | € 417 | € 819 | € 68 | € 211 | ▲ 209% |
| Retained profit | € -225,561 | € -252,881 | € -287,467 | € -375,631 | ▼ € 88,164 |
| Balance sheet total | € 56,130 | € 59,137 | € 60,876 | € 212 | ▼ € 60,664 |
Key figures of BELGIAN TRADING COMPANY, 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 BELGIAN TRADING COMPANY?
What happened at BELGIAN TRADING COMPANY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Kadmos BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 88,164. filed late Source: NBB ↗
- GHEMIC became a director. NBB
- Michael Gheysens stepped down as director. NBB
- Kadmos BV became a director. NBB
- Michael Gheysens became a director. NBB
- New establishment in Ieper. KBO
- Start of the company according to the CBE. KBO
In short
From € 11,782 loss in 2022 to € 88,164 loss in 2025.
Management
The stake of INTERNATIONAL REAL ESTATE SERVICES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BELGIAN TRADING COMPANYBehind BELGIAN TRADING COMPANY is GHEMIC. The shares are held by INTERNATIONAL REAL ESTATE SERVICES (99.2%). It owns 100% of Le Chalet 1850 itself.
Directors
According to the 2025 annual accounts
Director · represented by Michael Gheysens
Also active at: R.H.R. - INDUSTRIES, GARAGE S.O.S., GHELAMCO INVEST, SOGIMES, IMMOBILIERE NORTH SEA PROPERTIES, THE WHITE HOUSE ZOUTE, STEELCON, IMMOBILIERE COGIMES +44 more
since 2025
Managing director · represented by Paul Gheysens
Also active at: GHELAMCO, STEELCON, MeetDistrict Gent, INTERNATIONAL REAL ESTATE SERVICES, RING PUBLI
since 2023 · until 2030
Michael Gheysens
Director
since 2023 · until 2025
Shareholders
Participations
100%
Establishments
Establishment units
Physical locations of this company
Zwaanhofweg 10
8900 Ieper
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →R.H.R. - INDUSTRIES same network
€ 233,316 gross margin · 2025
GARAGE S.O.S. same network
€ -8,977 gross margin · 2025
GHELAMCO same network
€ 549,961 revenue · 2024
GHELAMCO INVEST same network
€ 38.6 million revenue · 2025
SOGIMES same network
€ 4.7 million gross margin · 2025
+74 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
- 0441.998.316
- VAT number
- BE 0441.998.316
- Registered office
- Zwaanhofweg 10, 8900 Ieper
- Names & denominations
- BELGIAN TRADING COMPANY · B.T.C.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 November 1990
- Peppol
- Not registered
- Activities · NACE
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