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 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
BELFAS from Koksijde, company number BE0450674668, closed financial year 2025 with a result of € 9,203 after tax. For that financial year BELFAS recorded a gross margin of € 8,463 and equity of € -68,178. Compared with financial year 2024, the result moved from € 172,351 to € 9,203. The company is profitable. 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 April 27, 2026.
€ -68,178
▲ € 9,203 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 9,203
▼ 95% vs 2024
Profit after tax over the fiscal year.
€ 25,493
▲ € 23,266 vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -123,954.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 851
▼ 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.
€ 101,748
▲ 182% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 932
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 381,286 | € 6,417 | € 224,684 | € 8,463 | ▼ 96% |
| Profit after taxes | € 255,630 | € 3,018 | € 172,351 | € 9,203 | ▼ 95% |
| Equity | € -252,750 | € -249,732 | € -77,381 | € -68,178 | ▲ € 9,203 |
| Total debts | € 285,693 | € 280,614 | € 272,846 | € 189,180 | ▼ 31% |
| Cash | € 32,587 | € 7,207 | € 2,226 | € 25,493 | ▲ € 23,266 |
| Retained profit | € -308,526 | € -305,508 | € -133,157 | € -123,954 | ▲ € 9,203 |
| Balance sheet total | € 32,943 | € 30,882 | € 195,465 | € 121,002 | ▼ 38% |
Key figures of BELFAS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to BELFAS?
What happened at BELFAS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 9,203 (▼ 95% vs 2024). Source: NBB ↗
- Devan Holding BV became a director. NBB
- New establishment in Koksijde. KBO
- Start of the company according to the CBE. KBO
In short
From € 255,630 profit in 2022 to € 9,203 profit in 2025.
Best year ever: 2022, with € 255,630 profit.
Management
The stake of DEVAN HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BELFASBehind BELFAS is Devan Holding BV. The shares are held by DEVAN HOLDING (100%).
Directors
According to the 2025 annual accounts
Director · represented by Steve Degrieck
Also active at: KOBE PROJECTS, Groep Caenen Capital Fund, GROEP CAENEN CAPITAL FUND II, Eagle Fund I, GROEP CAENEN CAPITAL FUND III, EAGLE FUND II, SEAPARK, GROEP CAENEN CAPITAL FUND V +19 more
since 2023
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Witte Burg(Odk) 40
8670 Koksijde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →KOBE PROJECTS same network
€ -22,279 gross margin · 2025
DEVAN HOLDING same network
€ -297,641 gross margin · 2025
WITTE BURG
SUN 4 ALL same network
€ 155,633 gross margin · 2025
BRICKS INVEST same network
€ -2,264 gross margin · 2025
+5 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
- 0450.674.668
- VAT number
- BE 0450.674.668
- Registered office
- Witte Burg(Odk) 40, 8670 Koksijde
- Names & denominations
- BELFAS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 August 1993
- Peppol
- Active · Active since 30 Mar 2026
- Activities · NACE
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