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 43 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BELNOR from Kortenberg, company number BE0473260327, closed financial year 2025 with a result of € 9,138 after tax. For that financial year BELNOR recorded revenue of € 132,902 and equity of € 386,370. Compared with financial year 2024, the result moved from € 157,958 to € 9,138. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on January 12, 2026.
€ 386,370
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 9,138
▼ 94% vs 2024
Profit after tax over the fiscal year.
€ 105,391
▼ 72% 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 € 366,370.
People and assets in 2025
€ 6,696
▼ 67% 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.
€ 3,075
▼ 85% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 6,769
▼ 77% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 132,902 | |
| Gross margin | € 102,640 | € 139,107 | € 252,825 | € 97,024 | ▼ 62% |
| Profit after taxes | € 44,603 | € 68,535 | € 157,958 | € 9,138 | ▼ 94% |
| Equity | € 152,800 | € 219,275 | € 377,233 | € 386,370 | ▲ 2% |
| Total debts | € 423,092 | € 356,416 | € 353,467 | € 337,998 | ▼ 4% |
| Cash | € 235,246 | € 267,745 | € 381,365 | € 105,391 | ▼ 72% |
| Retained profit | € 132,800 | € 199,275 | € 357,233 | € 366,370 | ▲ 3% |
| Balance sheet total | € 575,891 | € 575,691 | € 730,699 | € 724,368 | ▼ 1% |
Key figures of BELNOR, 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 January 2027.
What happened to BELNOR?
What happened at BELNOR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 9,138 (▼ 94% vs 2024). Source: NBB ↗
- Herman Hiel became a director. NBB
- Hege Hellstrom became a director. NBB
- New establishment in Merchtem. KBO
- Start of the company according to the CBE. KBO
In short
From € 44,603 profit in 2022 to € 9,138 profit in 2025.
Paid € 133,625 in corporate taxes since 2022.
Best year ever: 2024, with € 157,958 profit.
Management
Behind BELNOR are Herman Hiel and Hege Hellstrom.
Directors
According to the 2025 annual accounts
Herman Hiel
Director
since 2023
Hege Hellstrom
Director
since 2023
Establishments
Establishment units
Physical locations of this company
Galgenstraat 35
3078 Kortenberg
Langensteenweg 40
1785 Merchtem
Active since 15 December 2000
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0473.260.327
- VAT number
- BE 0473.260.327
- Registered office
- Galgenstraat 35, 3078 Kortenberg
- Names & denominations
- BELNOR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 13 November 2000
- Peppol
- Active · Active since 14 Jan 2026
- Activities · NACE
Verhuur en exploitatie van terreinen
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed
Verhuur van terreinen
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis