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 63 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
BELLAM from Thuin, company number BE0881229657, closed financial year 2025 with a result of € 447,129 after tax. For that financial year BELLAM recorded a gross margin of € 293,950 and equity of € 2.5 million. Compared with financial year 2024, the result moved from € 262,701 to € 447,129. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ 2.5 million
▲ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 447,129
▲ 70% vs 2024
Profit after tax over the fiscal year.
€ 6,671
▼ 90% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 2.5 million.
Debts at end 2025
€ 1.5 million
▼ 19% vs 2024
€ 380,871 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 2,039
▲ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 32,413
▲ 50% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 153,317 | € 168,292 | € 178,905 | € 293,950 | ▲ 64% |
| Profit after taxes | € 294,231 | € 306,883 | € 262,701 | € 447,129 | ▲ 70% |
| Equity | € 1,984,798 | € 1,791,681 | € 2,054,383 | € 2,501,512 | ▲ 22% |
| Total debts | € 2,156,997 | € 2,300,177 | € 1,947,999 | € 1,586,725 | ▼ 19% |
| Cash | € 190,782 | € 87,718 | € 70,215 | € 6,671 | ▼ 90% |
| Land & buildings | € 442,952 | € 393,781 | € 344,609 | € 298,616 | ▼ 13% |
| Retained profit | € 1,966,198 | € 1,773,081 | € 2,035,783 | € 2,482,912 | ▲ 22% |
| Dividend | € 0 | € 500,000 | € 0 | € 0 | |
| Bank debt | € 2,137,300 | € 1,773,825 | € 1,920,871 | € 1,549,305 | ▼ 19% |
| Balance sheet total | € 4,141,795 | € 4,091,858 | € 4,002,382 | € 4,088,237 | ▲ 2% |
Key figures of BELLAM, 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 BELLAM?
What happened at BELLAM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 447,129 (▲ 70% vs 2024). Source: NBB ↗
- Baltis SRL became a director. NBB
- New establishment in Thuin. KBO
- Start of the company according to the CBE. KBO
In short
From € 294,231 profit in 2022 to € 447,129 profit in 2025.
Paid € 106,435 in corporate taxes since 2022.
Best year ever: 2025, with € 447,129 profit.
Paid out € 500,000 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
The stake of JOE CASTA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BELLAMBehind BELLAM is Baltis SRL. The shares are held by JOE CASTA (100%). It owns 100% of Cigaline itself.
Directors
According to the 2025 annual accounts
since 2025
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Drève des Alliés(THN) 30
6530 Thuin
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0881.229.657
- VAT number
- BE 0881.229.657
- Registered office
- Drève des Alliés(THN) 30, 6530 Thuin
- Names & denominations
- BELLAM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 May 2006
- Peppol
- Active · Active since 19 Dec 2025
- Activities · NACE
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