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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Figures corrected NBB
Corrected annual account filed for 2024.
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Busy address KBO
41 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
BELGAGEL from Etterbeek, company number BE0825103972, closed financial year 2025 with a result of € 2.1 million after tax. For that financial year BELGAGEL recorded revenue of € 15.7 million and equity of € 1.9 million. Compared with financial year 2024, the result moved from € 2 million to € 2.1 million. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 3, 2026.
€ 1.9 million
▼ 33% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.1 million
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 7,719
▲ € 7,136 vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 3 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
11.2
▲ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 985,901
▲ 16% vs 2024
€ 88,000 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.
€ 15,471
▲ 18% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.1 million
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 64 days on average.
€ 259,949
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 13,280,303 | € 6,287,478 | € 15,008,587 | € 15,670,066 | ▲ 4% |
| Profit after taxes | € 1,894,602 | € 957,893 | € 2,018,065 | € 2,060,057 | ▲ 2% |
| Equity | € 4,851,981 | € 5,809,874 | € 2,827,939 | € 1,887,996 | ▼ 33% |
| Total debts | € 4,889,806 | € 2,059,850 | € 7,461,119 | € 5,354,489 | ▼ 28% |
| Cash | € 49,988 | € 71,954 | € 583 | € 7,719 | ▲ € 7,136 |
| Retained profit | € 4,751,981 | € 5,709,874 | € 2,727,939 | € 1,787,996 | ▼ 34% |
| Dividend | € 3,000,000 | € 0 | € 5,000,000 | € 3,000,000 | ▼ 40% |
| Bank debt | € 0 | € 0 | € 1,473 | € 0 | ▼ 100% |
| Balance sheet total | € 9,741,787 | € 7,869,724 | € 10,289,058 | € 7,242,486 | ▼ 30% |
| Employees (FTE) | 9.1 | 9 | 9.7 | 11.2 | ▲ 1.5 |
Key figures of BELGAGEL, fiscal years 2023 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 BELGAGEL?
What happened at BELGAGEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Aryzta France S.A.S. stepped down as director. NBB
- Nicolas Vanneste stepped down as director. NBB
- Julien Gromb stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.1 million (▲ 2% vs 2024). Source: NBB ↗
- Aryzta France S.A.S. became a director. NBB
- Nicolas Vanneste became a director. NBB
- Julien Gromb became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 1.9 million profit in 2023 to € 2.1 million profit in 2025.
Paid € 2.4 million in corporate taxes since 2023.
Best year ever: 2025, with € 2.1 million profit.
Paid out € 11 million in dividends to the owners in total.
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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
Directors
According to the 2025 annual accounts
Nicolas Vanneste
Director
since 2022 · until 2027
Julien Gromb
Director
since 2022 · until 2027
Aryzta France S.A.S.
Director · represented by Rhona O'Brien
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Sint-Michielslaan 47
1040 Etterbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 41 companies are registered at this address.
All companies at this address →E. Fischer et Cie
€ -650 gross margin · 2025
American Chamber of Commerce in Belgium
€ 1.3 million revenue · 2025
AUTONETWORK DEVELOPPEMENT
€ -400 gross margin · 2025
INDIGO
€ 6,166 gross margin · 2025
A.N.F.R.A. SERVICES
€ -3,061 gross margin · 2024
+36 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0825.103.972
- VAT number
- BE 0825.103.972
- Registered office
- Sint-Michielslaan 47, 1040 Etterbeek
- Names & denominations
- BELGAGEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 April 2010
- Peppol
- Active · Active since 21 Nov 2025
- Activities · NACE
Niet-gespecialiseerde groothandel in diepgevroren voedingsmiddelen
Handelsbemiddeling in de groothandel in voedings- en genotmiddelen