Belysse Group
Belysse Group is a Belgian public limited company (naamloze vennootschap / societe anonyme) registered with the Crossroads Bank for Enterprises (KBO/BCE) under number BE 0671.974.626. It was incorporated on 2 March 2017 and its registered office is at Franklin Rooseveltlaan 172-174, 8790 Waregem, Belgium. The KBO register describes the companys principal activity as holding-company activities, and its KBO status is currently shown as active.
Until 24 October 2022 the company traded under the name Balta Group nv. Shareholders approved a change of corporate name to Belysse Group nv at an Extraordinary General Meeting held on that date, following completion on 4 April 2022 of the divestment of the groups Rugs, Residential Polypropylene and Non-Woven businesses, together with the Balta brand, to Victoria PLC.
Belysse Group is the top Belgian holding entity of a group that designs, manufactures and sells sustainable textile floor coverings for commercial and residential markets, marketed under the modulyss, Bentley Mills, ITC and arc edition brands. Manufacturing sites are located in Tielt and Zele, Belgium, and Los Angeles, United States, with roughly 90 percent of sales generated in Europe and North America.
Belysse Group nv shares trade on Euronext Brussels under ticker BELYS (ISIN BE0974314461). Reported consolidated group revenue was approximately EUR 280 million for full-year 2024. For the first half of 2026, consolidated revenue fell 8.5 percent year-on-year, with Q2 2026 consolidated revenue of EUR 62 million (down 8 percent year-on-year), reflecting a 20.5 percent decline in European revenue linked to market softness and an ERP system migration, partly offset by 1.1 percent revenue growth in the United States. Net debt stood at EUR 147.6 million at the end of H1 2026, a net leverage ratio of 4.95x, with a cash balance of EUR 22 million. These figures are consolidated group results and do not necessarily reflect the standalone financial position of the Belgian legal entity.
- Company fundamentals
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- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of Belysse Group
Available data disclose five shareholder positions in Belysse Group nv, verified as of 4 September 2026. The largest holding is LSF9 Belysse Holdco S.a r.l., a Luxembourg company, with 54% of ordinary shares (19,408,879 shares). Publicly held free-float shares account for 32.53% (11,693,646 shares). Prime AIFM Lux S.A. holds 7.04% (2,529,400 shares), and Joris Ide, an individual, holds 6.2% (2,227,971 shares). A management shareholding of 0.23% (83,500 shares) is also disclosed. All reported holdings are ordinary shares; the available data does not specify whether interests are held directly or indirectly.
Ultimate beneficial ownership
The 54% stake held by LSF9 Belysse Holdco S.a r.l. sits within a multi-tier Luxembourg holding structure associated with Lone Star Funds, a US-based private-equity manager that acquired the group (then trading as Balta Group) in 2015. No natural-person ultimate beneficial owner, and no calculable effective ownership percentage down to a natural person, is confirmed in the sources reviewed.
Data availability
Major shareholders only: Belgian transparency-notification rules require disclosure of stakes above defined thresholds, so smaller holdings may not be reflected. Data date: 4 September 2026.
Sources
- Internal registry-linked shareholder data, verified 2026-09-04
- Mergr M&A Deal Summary, Lone Star Funds Acquires Balta Group, https://mergr.com/lone-star-funds-acquires-balta-industries-nv, retrieved 2026-09-18
- MarketScreener, Lone Star Fund IX completed the acquisition of Balta Group, https://www.marketscreener.com/quote/stock/BELYSSE-GROUP-NV-35787146/news/Lone-Star-Fund-IX-U-S-L-P-managed-by-Lone-Star-Funds-completed-the-acquisition-of-Balta-Group-38259585/, retrieved 2026-09-18
Registry feed — rows exactly as filed with Crossroads Bank for Enterprises (KBO/BCE), including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| LSF9 Belysse Holdco S.u00e0.r.l. | 54% | Crossroads Bank for Enterprises (KBO/BCE) | |
| Public Shareholders | 32.5% | Crossroads Bank for Enterprises (KBO/BCE) | |
| Prime AIFM Lux S.A. | 7% | Crossroads Bank for Enterprises (KBO/BCE) | |
| Joris Ide | 6.2% | Crossroads Bank for Enterprises (KBO/BCE) | |
| Management | 0.2% | Crossroads Bank for Enterprises (KBO/BCE) |
Officers
25
Directors and officers of Belysse Group
Belysse Groups official leadership page lists a three-member Management Committee and a nine-member Board of Directors as of September 2026. James Neuling is CEO of Belysse Group and Managing Director Europe. Francois de Labarre holds the role of Interim CFO; Belysse registry-linked data separately records Andy Rogiest under the Chief Financial Officer title. Jim Cusick is President of the Bentley Mills brand. Cyrille Ragoucy chairs the Board of Directors, a role held since 2017; other board members include long-standing non-executive and independent directors, among them two corporate directors represented by named individuals, Nicolas Vanden Abeele (representing Accelium bv) and Johan Deburchgrave (representing Heath Road bv). Separately, KBO-linked registry data lists 25 officer and mandate records for the company, the majority shown with an active work status; that dataset does not disclose appointment or resignation dates.
Recent officer changes
- CFO transition: Francois de Labarre is recorded as Interim CFO on the companys official leadership page as of September 2026, a role in which he succeeds the previously recorded CFO, Andy Rogiest. An exact effective date is not confirmed from a primary filing.
- Board changes: Vishesh Khatnani, Claire Knollys and Johan Deburchgrave are listed as having joined the Board of Directors as Non-Executive or Independent Directors since 2025, per the companys leadership page.
Data availability
Partial: current senior executive and board roles are confirmed from the companys own leadership page, a primary source. Belgian KBO-linked registry data lists a larger set of officer and mandate records but without appointment or resignation dates. Nationality is not disclosed in either source for any individual.
Sources
- Belysse company leadership page, https://www.belysse.com/en/about-us/company-leadership, retrieved 2026-09-18
- Internal KBO-linked officer and mandate data (25 records), retrieved 2026-09-18
Registry feed — rows exactly as filed with Crossroads Bank for Enterprises (KBO/BCE), including entries the profile above does not cover.
Group Structure
Group structure of Belysse Group
Belysse Group nv is not an independent company. It is majority owned through a Luxembourg holding structure that is ultimately associated with Lone Star Funds, a US private-equity manager which acquired the group, then trading as Balta Group, in 2015. The immediate parent is LSF9 Belysse Holdco S.a r.l. (Luxembourg), holding 54% of ordinary shares as disclosed in the shareholder data above. Corporate-linkage data traces the chain further upward through LSF9 Belysse Midco S.a r.l. and LSF9 Belysse Topco S.a r.l. to Lone Star Capital Investments S.a r.l. (Luxembourg), the highest identifiable entity in this chain; ownership percentages between these intermediate Luxembourg entities are not disclosed. No verified operating subsidiaries of Belysse Group nv were identified from independent sources; the groups manufacturing and sales operations under the modulyss, Bentley Mills, ITC and arc edition brands are conducted through separate entities in Belgium and the United States whose registration details were not confirmed here.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| LSF9 Belysse Holdco S.a r.l. | LU | LU B211770 | Immediate parent | 54% (share capital) | Active | 2026-09-04 |
| LSF9 Belysse Midco S.a r.l. | LU | LU B197722 | Possible relationship (intermediate holding company) | Ownership percentage not disclosed | Active | 2026-09-18 |
| Lone Star Capital Investments S.a r.l. | LU | LU B91796 | Possible relationship (highest identified entity in ownership chain) | Ownership percentage not disclosed | Active | 2026-09-18 |
Recent structural changes
- 4 April 2022: Completion of the divestment of the groups Rugs, Residential Polypropylene and Non-Woven businesses, together with the Balta brand, to Victoria PLC.
- 24 October 2022: Corporate name changed from Balta Group nv to Belysse Group nv, approved at an Extraordinary General Meeting.
Data availability
Partial: the immediate parent and its 54% stake are corroborated by shareholder-disclosure data; the identity of the ultimate parent is supported by reputable M&A reporting on the 2015 Lone Star Funds acquisition, but full ownership percentages through the intermediate Luxembourg entities, and the groups own operating subsidiaries, are not disclosed in the sources reviewed.
Sources
- Internal corporate-linkage data, retrieved 2026-09-18
- Mergr M&A Deal Summary, https://mergr.com/lone-star-funds-acquires-balta-industries-nv, retrieved 2026-09-18
- Belysse press release on name change, https://www.belysse.com/public/PR_Balta-Group-nv-announces-name-changes_220922-ENG.pdf, retrieved 2026-09-18
Registry feed — rows exactly as filed with Crossroads Bank for Enterprises (KBO/BCE), including entries the profile above does not cover.
Lone Star Capital Investments S.a r.l.
Luxembourg
Get complete shareholder and officer records, ultimate beneficial owner resolution, and ongoing ownership monitoring.
Frequently Asked Questions
What does Belysse Group do?
Belgian holding company for a group that designs, manufactures and sells sustainable textile floor coverings (carpet tiles and wall-to-wall carpets) under the modulyss, Bentley Mills, ITC and arc edition brands.
Who owns Belysse Group?
Majority shareholder is LSF9 Belysse Holdco S.a r.l. (Luxembourg) with 54%; other disclosed holders include free float (32.53%), Prime AIFM Lux S.A. (7.04%) and Joris Ide (6.2%), as of 4 September 2026.
Who is Belysse Group's UBO (Ultimate Beneficial Owner)?
No natural-person UBO is confirmed; the 54% stake sits within a Luxembourg holding structure linked to Lone Star Funds, which acquired the group (then Balta Group) in 2015.
What is Belysse Group's company registration number?
Belysse Group's registration number is 0671974626, filed with Crossroads Bank for Enterprises (KBO/BCE) in Belgium. Its current status on the register is active.
Is Belysse Group still an active company?
Belysse Group's status on Crossroads Bank for Enterprises (KBO/BCE) is listed as active.
When was Belysse Group incorporated?
Belysse Group was incorporated on 2 March 2017, according to Crossroads Bank for Enterprises (KBO/BCE).
What is Belysse Group's registered address?
The registered address on file for Belysse Group is Belgium.
What legal structure is Belysse Group registered as?
Belysse Group is registered as a Public Limited Company in Belgium.
What is Belysse Group's revenue?
Consolidated group revenue was approximately EUR 280 million in FY2024; H1 2026 consolidated revenue fell 8.5% year-on-year.
Is Belysse Group listed on a stock exchange?
Listed on Euronext Brussels under ticker BELYS (ISIN BE0974314461).
Who are the officers/directors of Belysse Group?
CEO is James Neuling; Interim CFO is Francois de Labarre; the Board of Directors is chaired by Cyrille Ragoucy.
Does Belysse Group have a parent company or subsidiaries?
Immediate parent is LSF9 Belysse Holdco S.a r.l. (Luxembourg); the ownership chain traces to Lone Star Capital Investments S.a r.l., part of the Lone Star Funds private-equity group.
Can Zavia monitor changes to Belysse Group's ownership over time?
This profile reflects a point-in-time snapshot from Crossroads Bank for Enterprises (KBO/BCE). Zavia's monitoring API can track changes to Belysse Group's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access Belysse Group's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Belgium, so records like Belysse Group's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Crossroads Bank for Enterprises (KBO/BCE) and was last synced on 18 September 2026.