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 6 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 1.9 to 1.2.
Financials
Financial year 2025
BELCASINOS from Middelkerke, company number BE0458233542, closed financial year 2025 with a result of € -167,747 after tax. For that financial year BELCASINOS recorded revenue of € 63,848 and equity of € 41.1 million. Compared with financial year 2024, the result moved from € 2.1 million to € -167,747. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 27, 2026.
€ 41.1 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -167,747
▼ still € 2.1 million profit in 2024
Profit after tax over the fiscal year.
€ 33,647
▼ 89% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 17.6 million.
People and assets in 2025
1.2
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 103,416
▼ 36% vs 2024
€ 86,200 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.
€ 1,676
▼ 57% 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.
€ 49,614
▲ 110% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 34 days on average.
€ 1,785
▼ 99% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 12,000 | € 12,000 | € 43,011 | € 63,848 | ▲ 48% |
| Profit after taxes | € 11,386,802 | € 5,090,737 | € 2,086,964 | € -167,747 | ▼ € 2.3 million |
| Equity | € 36,335,764 | € 39,176,501 | € 41,263,465 | € 41,095,719 | |
| Total debts | € 332,933 | € 2,361,990 | € 3,629,561 | € 7,344,104 | ▲ 102% |
| Cash | € 7,472,418 | € 400,796 | € 293,019 | € 33,647 | ▼ 89% |
| Retained profit | € 12,855,940 | € 15,696,676 | € 17,783,641 | € 17,615,894 | ▼ 1% |
| Dividend | € 4,500,000 | € 2,250,000 | € 0 | € 0 | |
| Balance sheet total | € 36,668,697 | € 41,538,491 | € 44,893,027 | € 48,503,007 | ▲ 8% |
| Employees (FTE) | 3.5 | 1.9 | 1.7 | 1.2 | ▼ 0.5 |
Key figures of BELCASINOS, 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 May 2027.
What happened to BELCASINOS?
What happened at BELCASINOS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Silve Christophe stepped down as director. NBB
- Groupe Partouche International NV stepped down as director. NBB
- Paire Fabrice stepped down as director. NBB
- Sebag Jan-Jack stepped down as director. NBB
- Sebag Ari stepped down as director. NBB
- Benhamou Hubert stepped down as director. NBB
- Partouche Patrick stepped down as director. NBB
- Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'entrepris BV (B00380) stepped down as director. NBB
In short
From € 11.4 million profit in 2022 to € 167,747 loss in 2025.
Paid € 674,271 in corporate taxes since 2022.
Best year ever: 2022, with € 11.4 million profit.
Paid out € 6.8 million in dividends to the owners in total.
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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
It owns 100% of EXPLOITATIE CASINO MIDDELKERKE , 100% of CASINO KURSAAL OOSTENDE , 99% of CKO BETTING, 19% of INTERNATIONAL GAMBLING SYSTEMS and 0.1% of CASINO DE CHAUDFONTAINE itself.
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Groupe Partouche International NV
Bestuurder · represented by Zenou Katy
Also active at: CASINO KURSAAL OOSTENDE, CKO BETTING
since 2025 · until 2031
Paire Fabrice
Bestuurder
since 2025 · until 2031
Robrechts Lenaerts Bedrijfsrevisoren - Réviseurs d'entrepris BV (B00380)
Commissaris · represented by Lenaerts Monika (A02259)
Also active at: CASINO KURSAAL OOSTENDE, GROUPE PARTOUCHE INTERNATIONAL, CKO BETTING
since 2025 · until 2028
Sebag Jan-Jack
Bestuurder
since 2025 · until 2031
since 2025 · until 2031
since 2025 · until 2031
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
Zeedijk 117 box A
8430 Middelkerke
Zeedijk 117
8430 Middelkerke
Active since 30 July 1996
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0458.233.542
- VAT number
- BE 0458.233.542
- Registered office
- Zeedijk 117 bus A, 8430 Middelkerke
- Names & denominations
- BELCASINOS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 June 1996
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Activiteiten van holdings
Holdings