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 10 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SPECIALTY METALS RESOURCES from Elsene, company number BE0890465938, closed financial year 2025 with a result of € 1.1 million after tax. For that financial year SPECIALTY METALS RESOURCES recorded revenue of € 11 million and equity of € 5.1 million. Compared with financial year 2024, the result moved from € -616,767 to € 1.1 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 14, 2026.
€ 5.1 million
▲ 28% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.1 million
▲ still € 616,767 loss in 2024
Profit after tax over the fiscal year.
€ 219,737
▼ 73% 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 € 4.1 million.
People and assets in 2025
€ 1,763
▼ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 10.8 million
▲ 15% vs 2024
Loans from banks and other lenders, long and short.
€ 3.9 million
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 138 days on average.
€ 9,562
▼ 96% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 38,398,727 | € 20,722,108 | € 17,088,140 | € 10,981,590 | ▼ 36% |
| Profit after taxes | € 805,850 | € -350,970 | € -616,767 | € 1,113,444 | ▲ € 1.7 million |
| Equity | € 5,523,719 | € 4,584,216 | € 3,967,449 | € 5,080,893 | ▲ 28% |
| Total debts | € 23,117,921 | € 15,687,164 | € 14,110,092 | € 14,819,360 | ▲ 5% |
| Cash | € 2,384,186 | € 1,124,250 | € 812,150 | € 219,737 | ▼ 73% |
| Retained profit | € 4,523,719 | € 3,584,216 | € 2,967,449 | € 4,080,893 | ▲ 38% |
| Dividend | € 50,000 | € 588,533 | € 0 | € 0 | |
| Bank debt | € 20,059,427 | € 13,381,625 | € 9,376,940 | € 10,824,639 | ▲ 15% |
| Balance sheet total | € 28,686,996 | € 20,271,380 | € 18,077,541 | € 19,900,254 | ▲ 10% |
Key figures of SPECIALTY METALS RESOURCES, 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 SPECIALTY METALS RESOURCES?
What happened at SPECIALTY METALS RESOURCES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Vangala SRL stepped down as director. NBB
- Philippe Lavagna stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.1 million. filed late Source: NBB ↗
- Vangala SRL became a director. NBB
- Philippe Lavagna became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 805,850 profit in 2022 to € 1.1 million profit in 2025.
Paid € 630,489 in corporate taxes since 2022.
Best year ever: 2025, with € 1.1 million profit.
Paid out € 638,533 in dividends to the owners in total.
Management
It owns 100% of New Bugarama Mining, 100% of Specialty Metals Resources USA Holding inc., 70% of Blue Stone Metals & Chemicals Pvt ltd (India), 54% of Blue Stone Metals & Chemicals LLC, 50% of Nutriteam and 50% of Mojac Technologies itself.
Directors
According to the 2025 annual accounts
Director · represented by Pauline Lavagna
since 2019 · until 2030
Philippe Lavagna
Managing director
since 2018 · until 2030
Establishments
Establishment units
Physical locations of this company
Tenbosstraat 42A
1050 Elsene
Tenbosstraat 42 box A
1050 Elsene
Active since 1 July 2007
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0890.465.938
- VAT number
- BE 0890.465.938
- Registered office
- Tenbosstraat 42A, 1050 Elsene
- Names & denominations
- SPECIALTY METALS RESOURCES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 June 2007
- Peppol
- Active · Active since 3 Dec 2025
- Activities · NACE
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Overige detailhandel, niet in winkels
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