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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Tight liquidity NBB
Cash and receivables cover 62 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 37.2 to 23.7.
Financials
Financial year 2025
Balti from Kortrijk, company number BE0690584471, closed financial year 2025 with a result of € 1.9 million after tax. For that financial year Balti recorded a gross margin of € 4.2 million and equity of € 897,753. Compared with financial year 2024, the result moved from € 1.1 million to € 1.9 million. Profitable, and profit is growing. The buffer shrank hard: equity is 73 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 15, 2026.
€ 897,753
▼ 73% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▲ 73% vs 2024
Profit after tax over the fiscal year.
€ 2.8 million
▼ 20% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 4.4 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
23.7
▼ 7.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▲ 11% vs 2024
€ 57,900 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.
€ 327,906
▼ 46% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.9 million
▼ 23% vs 2024
€ 625,797 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 1.1 million
▲ 126% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 680,893
▼ 1% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 4,629,529 | € 6,578,215 | € 3,334,614 | € 4,188,663 | ▲ 26% |
| Profit after taxes | € 2,307,913 | € 2,856,723 | € 1,122,526 | € 1,946,739 | ▲ 73% |
| Equity | € 3,571,766 | € 3,428,489 | € 3,351,014 | € 897,753 | ▼ 73% |
| Total debts | € 10,058,792 | € 7,691,090 | € 6,650,485 | € 8,273,361 | ▲ 24% |
| Cash | € 165,204 | € 4,334,331 | € 3,486,283 | € 2,795,732 | ▼ 20% |
| Land & buildings | - | € 33,519 | € 0 | - | |
| Retained profit | € 3,547,766 | € 3,404,489 | € 3,327,014 | € 873,753 | ▼ 74% |
| Dividend | € 1,500,000 | € 3,000,000 | € 1,200,000 | € 4,400,000 | ▲ 267% |
| Bank debt | € 2,189,707 | € 3,042,103 | € 2,499,945 | € 1,926,545 | ▼ 23% |
| Balance sheet total | € 13,655,065 | € 11,417,263 | € 10,057,458 | € 9,272,516 | ▼ 8% |
| Employees (FTE) | 27.1 | 37.2 | 31.4 | 23.7 | ▼ 7.7 |
Key figures of Balti, 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 Balti?
What happened at Balti in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.9 million (▲ 73% vs 2024). Source: NBB ↗
- European Energy Transition Fund BV became a director. NBB
- New establishment in Kortrijk. KBO
- Start of the company according to the CBE. KBO
In short
From € 2.3 million profit in 2022 to € 1.9 million profit in 2025.
Paid € 2 million in corporate taxes since 2022.
Best year ever: 2023, with € 2.9 million profit.
On average € 176,700 of value added per employee in 2025.
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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
The stake of Balti Energy Systems, EUROPEAN ENERGY TRANSITION FUND comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BaltiBehind Balti is European Energy Transition Fund BV. The shares are held by Balti Energy Systems (50%) and EUROPEAN ENERGY TRANSITION FUND (50%).
Directors
According to the 2025 annual accounts
European Energy Transition Fund BV
Director · represented by Verhue Christophe
since 2025
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Torkonjestraat(Mar) 21F
8510 Kortrijk
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0690.584.471
- VAT number
- BE 0690.584.471
- Registered office
- Torkonjestraat(Mar) 21F, 8510 Kortrijk
- Names & denominations
- Balti
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 13 February 2018
- Peppol
- Active · Active since 23 Dec 2025
- Contact
- 056123333
- Activities · NACE
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