Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 37 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
28 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
STARTUP FACTORY from Brussel, company number BE0640934131, closed financial year 2025 with a result of € -274,687 after tax. For that financial year STARTUP FACTORY recorded a gross margin of € -12,823 and equity of € 83,923. Compared with financial year 2024, the result moved from € -63,330 to € -274,687. The company made a loss. The buffer shrank hard: equity is 77 % below last year. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ 83,923
▼ 77% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -274,687
▼ 334 % more loss than in 2024
Profit after tax over the fiscal year.
€ 52,539
▲ € 43,432 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -996,077.
Debts at end 2025
€ 65,112
▼ 19% vs 2024
Loans from banks and other lenders, long and short.
€ 282,981
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -77,516 | € 67,891 | € -6,400 | € -12,823 | ▼ € 6,423 |
| Profit after taxes | € 195,491 | € 345 | € -63,330 | € -274,687 | ▼ € 211,357 |
| Equity | € 421,594 | € 421,940 | € 358,610 | € 83,923 | ▼ 77% |
| Total debts | € 294,077 | € 357,548 | € 350,550 | € 355,683 | ▲ 1% |
| Cash | € 125,749 | € 28,312 | € 9,107 | € 52,539 | ▲ € 43,432 |
| Retained profit | € -658,406 | € -658,060 | € -721,390 | € -996,077 | ▼ € 274,687 |
| Bank debt | € 15,711 | € 92,720 | € 80,082 | € 65,112 | ▼ 19% |
| Balance sheet total | € 855,471 | € 779,488 | € 709,159 | € 439,606 | ▼ 38% |
| Employees (FTE) | 1 | 0.8 | 0 | - |
Key figures of STARTUP FACTORY, 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 July 2027.
What happened to STARTUP FACTORY?
What happened at STARTUP FACTORY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- BOTREX stepped down as director. NBB
- Raphael Halberthal stepped down as director. NBB
- Olivier COUNE stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 274,687. Source: NBB ↗
- BOTREX became a director. NBB
- Raphael Halberthal became a director. NBB
- Olivier COUNE became a director. NBB
- New establishment in Brussel. KBO
In short
From € 195,491 profit in 2022 to € 274,687 loss in 2025.
Best year ever: 2022, with € 195,491 profit.
A new publication or filing at STARTUP FACTORY? We notify you, reason included.
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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 Board Factory, 85% of Whelp, 72.8% of Imagine Europe, 39.5% of Socialcom, 26.6% of Kastl and 19.9% of Colive itself.
Directors
According to the 2025 annual accounts
Director · represented by Baudouin DE TROOSTEMBERGH
since 2025 · until 2030
Raphael Halberthal
Director
Also active at: BLUE DEVELOPPEMENT PROPERTY, SOCIALCOM, Blooming Riders, Colive
since 2025 · until 2030
Olivier COUNE
Director
since 2025 · until 2030
Establishments
Establishment units
Physical locations of this company
Kantersteen 10/12
1000 Brussel
Kantersteen 10
1000 Brussel
Active since 1 November 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 28 companies are registered at this address.
All companies at this address →Democratic Society
€ 0 revenue · 2025
Be Angels SIBA 1
SIBA TAX SHELTER 2018
BE ANGELS INVESTORS CLUB (BAC) 6
SIBA ETUDIANTS ENTREPRENEURS 2018
+23 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Website info
Features
Security
Network
Details
- Company number
- 0640.934.131
- VAT number
- BE 0640.934.131
- Registered office
- Kantersteen 10/12, 1000 Brussel
- Names & denominations
- STARTUP FACTORY
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 October 2015
- Peppol
- Active · Active since 24 Nov 2023
- Contact
- startupfactory.be
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Diverse administratieve activiteiten ten behoeve van kantoren