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 4 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 40 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BEL AIR FINE ART BELGIQUE from Brussel, company number BE0683936904, closed financial year 2025 with a result of € -192,881 after tax. For that financial year BEL AIR FINE ART BELGIQUE recorded a gross margin of € 462,837 and equity of € -1.2 million. Compared with financial year 2024, the result moved from € -215,015 to € -192,881. 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 September 29, 2026.
€ -1.2 million
▼ € 192,881 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -192,881
▲ 10 % less loss than in 2024
Profit after tax over the fiscal year.
€ 101,128
▲ 28% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.3 million.
People and assets in 2025
6.6
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 462,233
▼ 7% vs 2024
€ 70,000 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.
€ 2,667
▼ 86% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.1 million
Loans from banks and other lenders, long and short.
€ 574,098
▼ 19% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 57,960
▼ 41% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -36,712 | € -60,245 | € 413,032 | € 462,837 | ▲ 12% |
| Profit after taxes | € -158,762 | € -202,414 | € -215,015 | € -192,881 | ▲ € 22,134 |
| Equity | € -612,365 | € -814,779 | € -1,029,794 | € -1,222,675 | ▼ € 192,881 |
| Total debts | € 1,099,704 | € 1,531,947 | € 2,112,225 | € 2,232,385 | ▲ 6% |
| Cash | € 108,933 | € 18,990 | € 79,042 | € 101,128 | ▲ 28% |
| Retained profit | € -662,365 | € -864,779 | € -1,079,794 | € -1,272,675 | ▼ € 192,881 |
| Bank debt | € 0 | € 0 | € 0 | € 1,088,775 | |
| Balance sheet total | € 487,339 | € 717,168 | € 1,082,430 | € 1,009,709 | ▼ 7% |
| Employees (FTE) | 1 | 1.5 | 6.8 | 6.6 | ▼ 0.2 |
By gross margin, BEL AIR FINE ART BELGIQUE ranks 2nd of 65 companies with main activity “Detailhandel in antiquiteiten” in Brussel that publish figures (fiscal year 2025).
Key figures of BEL AIR FINE ART BELGIQUE, 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.
Ask about BEL AIR FINE ART BELGIQUE the way you would ask their accountant.
Answers from the filed annual accounts, the Belgian Official Gazette and the CBE register.
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What happened to BEL AIR FINE ART BELGIQUE?
What happened at BEL AIR FINE ART BELGIQUE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 192,881. filed late Source: NBB ↗
- Grégory Chabanian became a director. NBB
- New establishment in Brussel. KBO
- New establishment in Brugge. KBO
- Incorporation, published in the Gazette. Source: Staatsblad ↗
In short
From € 158,762 loss in 2022 to € 192,881 loss in 2025.
On average € 70,100 of value added per employee in 2025.
Management
Behind BEL AIR FINE ART BELGIQUE are SIFRA SA and Grégory Chabanian.
Directors
According to the 2025 annual accounts
SIFRA SA
Director · represented by François Chabanian
Grégory Chabanian
Director
since 2024
Establishments
Establishment units
Physical locations of this company
Koningsgalerij 12
1000 Brussel
Wollestraat 25
8000 Brugge
Active since 1 October 2023
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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Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- NV SIFRA(oprichter) 100%
Details
- Company number
- 0683.936.904
- VAT number
- BE 0683.936.904
- Registered office
- Koningsgalerij 12, 1000 Brussel
- Names & denominations
- BEL AIR FINE ART BELGIQUE · BAFA Belgique
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 November 2017
- Peppol
- Active · Active since 17 Mar 2026
- Activities · NACE
Detailhandel in antiquiteiten