Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 54 % of short-term debt in 2026; threshold 65 %.
-
Board fully replaced NBB
No director from three years ago is still active according to annual account 2026.
-
Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
BLUE STORES from Brussel, company number BE0446908395, closed financial year 2026 with a result of € 2 million after tax. For that financial year BLUE STORES recorded revenue of € 54.4 million and equity of € 3.1 million. Compared with financial year 2025, the result moved from € 1.2 million to € 2 million. Profitable, and profit is growing. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 17, 2026.
€ 3.1 million
▼ 13% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2 million
▲ 66% vs 2025
Profit after tax over the fiscal year.
€ 4.8 million
▲ 72% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 2.5 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2026
39.9
▲ 0.7 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 3.2 million
▲ 15% vs 2025
€ 80,700 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.
€ 367,216
▲ 74% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 791,646
▲ 225% vs 2025
Loans from banks and other lenders, long and short.
€ 8.5 million
▲ 6% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 65 days on average.
€ 1.1 million
▲ 9% vs 2025
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 53,720,528 | € 51,035,432 | € 51,711,634 | € 54,362,064 | ▲ 5% |
| Profit after taxes | € 3,532,510 | € 1,878,225 | € 1,228,119 | € 2,043,384 | ▲ 66% |
| Equity | € 413,509 | € 2,291,734 | € 3,519,853 | € 3,063,236 | ▼ 13% |
| Total debts | € 24,411,898 | € 19,383,328 | € 19,000,931 | € 21,577,398 | ▲ 14% |
| Cash | € 3,505,649 | € 3,757,481 | € 2,807,736 | € 4,818,946 | ▲ 72% |
| Retained profit | € 334,260 | € 2,212,485 | € 3,440,604 | € 2,983,987 | ▼ 13% |
| Dividend | € 0 | € 0 | € 0 | € 2,500,000 | |
| Bank debt | € 1,498,570 | € 916,697 | € 243,658 | € 791,646 | ▲ 225% |
| Balance sheet total | € 24,825,407 | € 21,675,062 | € 22,520,783 | € 24,640,634 | ▲ 9% |
| Employees (FTE) | 37 | 39 | 39.2 | 39.9 | ▲ 0.7 |
Key figures of BLUE STORES, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 August 2027.
What happened to BLUE STORES?
What happened at BLUE STORES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 2 million (▲ 66% vs 2025). Source: NBB ↗
- Joachim Rubin became a director. NBB
- Griet Sauvenay became a director. NBB
- Elodie Doret became a director. NBB
- Stephan JEGER stepped down as director. NBB
- Dan APPELSTEIN stepped down as director. NBB
- Jacques APPELSTEIN stepped down as director. NBB
- Dan APPELSTEIN became a director. NBB
In short
From € 3.5 million profit in 2023 to € 2 million profit in 2026.
Paid € 1.9 million in corporate taxes since 2023.
Best year ever: 2023, with € 3.5 million profit.
Paid out € 2.5 million in dividends to the owners in total.
A new publication or filing at BLUE STORES? We notify you, reason included.
Follow BLUE STORESDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
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 PP RETAIL HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BLUE STORESBehind BLUE STORES are Joachim Rubin , Griet Sauvenay and Elodie Doret. The shares are held by PP RETAIL HOLDING (100%).
Directors
According to the 2026 annual accounts
Joachim Rubin
Managing director
Also active at: L&L RETAIL BELGIUM, PROPERTY WORTH, PASSION8, PP RETAIL HOLDING, PP RETAIL SERVICES, PP RETAIL LOGISTICS
since 2026
Griet Sauvenay
Director
Also active at: L&L RETAIL BELGIUM, PP RETAIL HOLDING, PP RETAIL SERVICES, PP RETAIL LOGISTICS
since 2026
since 2026
Stephan JEGER
Managing director
since 2013 · until 2026
Dan APPELSTEIN
Director
Also active at: FAMCO, L&L RETAIL BELGIUM, QS LOGISTICS, STEINCO, ALIVNOT, PP RETAIL HOLDING, ALIVSTONE
since 2022 · until 2026
Jacques APPELSTEIN
Managing director
Also active at: QS LOGISTICS, PP RETAIL HOLDING, PP RETAIL SERVICES, PP RETAIL LOGISTICS
· until 2026
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Zaterdagplein 1
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →IMMO APPELS
€ 946,093 gross margin · 2025
A & S DISTRIBUTION
€ 562,313 gross margin · 2025
FAMCO same network
€ -85 gross margin · 2025
L&L RETAIL BELGIUM same network
€ 72.6 million revenue · 2026
LMServices
€ -18,655 gross margin · 2025
+10 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
- 0446.908.395
- VAT number
- BE 0446.908.395
- Registered office
- Zaterdagplein 1, 1000 Brussel
- Names & denominations
- BLUE STORES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 March 1992
- Peppol
- Active · Active since 26 Aug 2025
- Activities · NACE
Detailhandel in damesbovenkleding
Detailhandel in bovenkleding voor dames
Groothandel in kleding, met uitzondering van werk- en onderkleding
Overige niet-gespecialiseerde detailhandel
Detailhandel via postorderbedrijven of via internet