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 3 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 10 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Belphi from Evergem, company number BE0598821481, closed financial year 2025 with a result of € -36,319 after tax. For that financial year Belphi recorded a gross margin of € 84,073 and equity of € -103,192. Compared with financial year 2024, the result moved from € -23,349 to € -36,319. 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 December 22, 2025.
€ -103,192
▼ € 36,319 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -36,319
▼ 56 % more loss than in 2024
Profit after tax over the fiscal year.
€ 5,926
▲ € 5,000 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -109,392.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 71,309
▲ 11% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 82
▼ 76% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 192,207
€ 22,993 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 55,707
▼ 22% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 11,611
▼ 5% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 100,449 | € 62,013 | € 90,784 | € 84,073 | ▼ 7% |
| Profit after taxes | € 5,387 | € -46,029 | € -23,349 | € -36,319 | ▼ € 12,970 |
| Equity | € 2,505 | € -43,524 | € -66,873 | € -103,192 | ▼ € 36,319 |
| Total debts | € 266,054 | € 297,840 | € 279,337 | € 277,424 | ▼ 1% |
| Cash | € 991 | € 3,855 | € 926 | € 5,926 | ▲ € 5,000 |
| Land & buildings | € 156,710 | € 146,989 | € 134,324 | € 121,659 | ▼ 9% |
| Retained profit | € -3,695 | € -49,724 | € -73,073 | € -109,392 | ▼ € 36,319 |
| Bank debt | € 206,352 | € 224,745 | € 192,985 | € 192,207 | |
| Balance sheet total | € 268,559 | € 254,316 | € 212,464 | € 174,231 | ▼ 18% |
Key figures of Belphi, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2026 has not been filed yet; it was expected before 31 October 2026.
What happened to Belphi?
What happened at Belphi in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 36,319. filed late Source: NBB ↗
- New establishment in Evergem. KBO
- Start of the company according to the CBE. KBO
In short
From € 5,387 profit in 2022 to € 36,319 loss in 2025.
Best year ever: 2022, with € 5,387 profit.
Management
Behind Belphi is Isabelle Van Itterbeek.
Directors
According to the 2025 annual accounts
Isabelle Van Itterbeek
Director
Establishments
Establishment units
Physical locations of this company
Riemesteenweg 114
9940 Evergem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0598.821.481
- VAT number
- BE 0598.821.481
- Registered office
- Riemesteenweg 114, 9940 Evergem
- Names & denominations
- Belphi
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 19 February 2015
- Peppol
- Active · Active since 3 Oct 2025
- Activities · NACE
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