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 8 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2022.
Financials
Financial year 2025
Specialized Belgium Distribution from Geraardsbergen, company number BE0779540104, closed financial year 2025 with a result of € -448,056 after tax. For that financial year Specialized Belgium Distribution recorded a gross margin of € 2.2 million and equity of € 2.2 million. Compared with financial year 2024, the result moved from € -580,827 to € -448,056. The company made a loss. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 25, 2026.
€ 2.2 million
▲ € 3.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -448,056
▲ 23 % less loss than in 2024
Profit after tax over the fiscal year.
€ 498,465
▼ 41% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.8 million.
People and assets in 2025
19.5
▲ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▲ 8% vs 2024
€ 81,500 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.
€ 84,979
▼ 32% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 578,781
▼ 87% vs 2024
€ 116,720 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 7 million
▼ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 314,703
▼ 4% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 112,738 | € 1,794,210 | € 2,151,712 | € 2,223,200 | ▲ 3% |
| Profit after taxes | € -383,561 | € -386,054 | € -580,827 | € -448,056 | ▲ € 132,771 |
| Equity | € -133,561 | € -519,615 | € -1,100,442 | € 2,151,502 | ▲ € 3.3 million |
| Total debts | € 8,647,384 | € 12,127,144 | € 12,505,213 | € 8,056,128 | ▼ 36% |
| Cash | € 770,520 | € 1,071,551 | € 845,513 | € 498,465 | ▼ 41% |
| Land & buildings | € 1,328,249 | € 1,537,979 | € 1,473,052 | € 1,404,108 | ▼ 5% |
| Retained profit | € -383,561 | € -769,615 | € -1,350,442 | € -1,798,498 | ▼ € 448,056 |
| Bank debt | € 5,380,706 | € 7,701,946 | € 4,519,009 | € 578,781 | ▼ 87% |
| Balance sheet total | € 8,513,822 | € 11,607,529 | € 11,404,772 | € 10,207,630 | ▼ 10% |
| Employees (FTE) | 4.2 | 14 | 19.2 | 19.5 | ▲ 0.3 |
Key figures of Specialized Belgium Distribution, 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 Specialized Belgium Distribution?
What happened at Specialized Belgium Distribution in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 448,056. filed late Source: NBB ↗
- Peter Kerle became a director. NBB
- Joseph Tiller stepped down as director. NBB
- Martin Wyrsch became a director. NBB
- New establishment in Geraardsbergen. KBO
- New establishment in Brugge. KBO
- New establishment in Zuienkerke. KBO
- New establishment in Brecht. KBO
In short
From € 383,561 loss in 2022 to € 448,056 loss in 2025.
Paid € 113,617 in corporate taxes since 2022.
On average € 114,000 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
Behind Specialized Belgium Distribution are Peter Kerle, Martin Wyrsch and Bas Gilling. It owns 100% of Color Monkey itself.
Directors
According to the 2025 annual accounts
since 2025
since 2024
Bas Gilling
Director
since 2022
since 2021 · until 2025
Establishments
Establishment units
Physical locations of this company
Astridlaan(Ove) 156
9500 Geraardsbergen
Frans De Meyerstraat 1A
2960 Brecht
Active since 24 May 2022
Pathoekeweg 25 box C
8000 Brugge
Active since 1 January 2023
Blankenbergse Steenweg 6 box A
8377 Zuienkerke
Active since 1 January 2023
Astridlaan(Sch) 156
9500 Geraardsbergen
Active since 22 August 2023
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0779.540.104
- VAT number
- BE 0779.540.104
- Registered office
- Astridlaan(Ove) 156, 9500 Geraardsbergen
- Names & denominations
- Specialized Belgium Distribution
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 December 2021
- Peppol
- Active · Active since 24 Dec 2025
- Contact
- [email protected] +31881974000
- Activities · NACE
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