ALTER ECO
ActiveSummary
ALTER ECO has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €288k and a net result of €-28k. Equity is shrinking by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 37% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability32▼-15
Solvency61▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity short (current ratio 0.09 against 0.12 in 2024; short-term debt: 25.3% and cash: 0.6% of total assets), and 64.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.7%
Return on assets
-3.5%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-28k
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 18-02-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
25 d late
2023
on the day
2022
6 d early
2021
26 d late
2020
1 d early
2019
6 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€288k▼ 9.9%
2024 · €319k
2019: €384k
2020: €416k▲ +8.1% vs 2019highest in 7 years
2021: €383k▼ -7.8% vs 2020
2022: €362k▼ -5.5% vs 2021
2023: €339k▼ -6.4% vs 2022
2024: €319k▼ -5.8% vs 2023
2025: €288k▼ -9.9% vs 2024lowest in 7 years
2019 → 2025
Total assets
€806k▼ 6.1%
2024 · €858k
2019: €1.13Mhighest in 7 years
2020: €1.02M▼ -9.9% vs 2019
2021: €995k▼ -2.6% vs 2020
2022: €929k▼ -6.7% vs 2021
2023: €888k▼ -4.3% vs 2022
2024: €858k▼ -3.4% vs 2023
2025: €806k▼ -6.1% vs 2024lowest in 7 years
2019 → 2025
Net result
€-28k▼ 71.0%
2024 · €-17k
2019: €130khighest in 7 years
2020: €34k▼ -74.1% vs 2019
2021: €-30k▼ -189% vs 2020lowest in 7 years
2022: €-19k▲ +37.8% vs 2021
2023: €-21k▼ -10.3% vs 2022
2024: €-17k▲ +18.9% vs 2023
2025: €-28k▼ -71.0% vs 2024
2019 → 2025
Working capital
€-186k▼ 6.4%
2024 · €-175k
2019: €-173k
2020: €-132k▲ +23.8% vs 2019highest in 7 years
2021: €-155k▼ -17.5% vs 2020
2022: €-161k▼ -4.0% vs 2021
2023: €-168k▼ -4.3% vs 2022
2024: €-175k▼ -4.0% vs 2023
2025: €-186k▼ -6.4% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€383k-€362k▼ 5.5%€339k▼ 6.4%€319k▼ 5.8%€288k▼ 9.9%
2021: €383khighest in 5 years
2022: €362k▼ -5.5% vs 2021
2023: €339k▼ -6.4% vs 2022
2024: €319k▼ -5.8% vs 2023
2025: €288k▼ -9.9% vs 2024lowest in 5 years
Operating result€-23k-€-11k▲ 50.0%€-14k▼ 19.3%€-11k▲ 18.8%€-20k▼ 83.8%
2021: €-23klowest in 5 years
2022: €-11k▲ +50.0% vs 2021
2023: €-14k▼ -19.3% vs 2022
2024: €-11k▲ +18.8% vs 2023highest in 5 years
2025: €-20k▼ -83.8% vs 2024
Net result€-30k-€-19k▲ 37.8%€-21k▼ 10.3%€-17k▲ 18.9%€-28k▼ 71.0%
2021: €-30klowest in 5 years
2022: €-19k▲ +37.8% vs 2021
2023: €-21k▼ -10.3% vs 2022
2024: €-17k▲ +18.9% vs 2023highest in 5 years
2025: €-28k▼ -71.0% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €20k in 2025 against €11k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €806k
Fixed assets
€788k ▼ 5.4%
Current assets
€18k ▼ 28.2%
Equity and liabilities €806k
Equity
€288k ▼ 9.9%
Debt
€518k ▼ 3.8%
Debt's share of the balance-sheet total rises from 62.8% to 64.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€23k▼
2024 · €31k
Cash flow
€15k▼
2024 · €26k
Current ratio
0.09▼
2024 · 0.12
Debt to equity
1.80▲
2024 · 1.69
ROE
-9.9%▼
2024 · -5.2%
ROA
-3.5%▼
2024 · -1.9%
Interest coverage
2.10▼
2024 · 3.68
Debt ≤ 1 year
€204k▲
2024 · €199k
Debt > 1 year
€315k▼
2024 · €340k
Income taxes
€141▼
2024 · €207
Staff costs
€930▼
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€858k€806k▼
Fixed assets21/28€834k€788k▼
Tangible fixed assets22/27€833k€788k▼
Land and buildings22€813k€773k▼
Plant, machinery and equipment23€18k€13k▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€460€460=
Current assets29/58€24k€18k▼
Amounts receivable within one year40/41€12k€13k▲
Trade receivables40€10k€11k▲
Other amounts receivable41€2k€2k▼
Cash at bank and in hand54/58€12k€5k▼
Equity and liabilities
Total equity and liabilities10/49€858k€806k▼
Equity10/15€319k€288k▼
Contributions10/11€116k€116k=
Revaluation surpluses12€228k€228k=
Reserves13€13k€13k=
Distributable reserves133€13k€13k=
Profit (loss) carried forward14€-72k€-101k▼
Investment grants15€35k€32k▼
Amounts payable17/49€539k€518k▼
Amounts payable after more than one year17€340k€315k▼
Financial debts170/4€340k€315k▼
Amounts payable within one year42/48€199k€204k▲
Current portion of amounts payable after more than one year42€35k€28k▼
Trade debts44€34k€17k▼
Suppliers440/4€34k€17k▼
Taxes, remuneration and social security45€174€145▼
Taxes450/3€174€145▼
Other amounts payable47/48€130k€159k▲
Income statement
Code20242025
Remuneration, social security and pensions62€1k€930▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€44k▲
Other operating charges640/8€4k€2k▼
Gross operating margin9900€36k€27k▼
Operating profit (loss)9901€-11k€-20k▼
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€3k▼
Financial charges65/66B€9k€11k▲
Recurring financial charges65€9k€11k▲
Profit (loss) for the period before taxes9903€-16k€-28k▼
Income taxes67/77€207€141▼
Profit (loss) for the period9904€-17k€-28k▼
Profit (loss) for the period to be appropriated9905€-17k€-28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-72k€-101k▼
Profit (loss) brought forward from the previous period14P€-56k€-72k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €6k | €3k | €1k | €930 | ▼ 17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45k | €43k | €43k | €42k | €44k | ▲ 2.8% |
| Other operating charges640/8 | - | €2k | €2k | €4k | €2k | ▼ 36.1% |
| Gross operating margin9900 | €34k | €40k | €34k | €36k | €27k | ▼ 26.4% |
| Operating profit (loss)9901 | €-23k | €-11k | €-14k | €-11k | €-20k | ▼ 83.8% |
| Financial income75/76B | - | €3k | €3k | €3k | €3k | ▼ 1.4% |
| Recurring financial income75 | €3k | €3k | €3k | €3k | €3k | ▼ 1.4% |
| Financial charges65/66B | - | €10k | €9k | €9k | €11k | ▲ 30.7% |
| Recurring financial charges65 | €10k | €10k | €9k | €9k | €11k | ▲ 30.7% |
| Profit (loss) for the period before taxes9903 | €-30k | €-19k | €-20k | €-16k | €-28k | ▼ 72.3% |
| Income taxes67/77 | €-65 | €54 | €132 | €207 | €141 | ▼ 32.0% |
| Profit (loss) for the period9904 | €-30k | €-19k | €-21k | €-17k | €-28k | ▼ 71.0% |
| Profit (loss) for the period to be appropriated9905 | €-30k | €-19k | €-21k | €-17k | €-28k | ▼ 71.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €995k | €929k | €888k | €858k | €806k | ▼ 6.1% |
| Fixed assets21/28 | €962k | €919k | €876k | €834k | €788k | ▼ 5.4% |
| Tangible fixed assets22/27 | €962k | €918k | €876k | €833k | €788k | ▼ 5.4% |
| Land and buildings22 | - | €889k | €851k | €813k | €773k | ▼ 4.9% |
| Plant, machinery and equipment23 | - | €26k | €22k | €18k | €13k | ▼ 27.8% |
| Furniture and vehicles24 | - | €3k | €3k | €2k | €1k | ▼ 35.1% |
| Financial fixed assets28 | €460 | €460 | €460 | €460 | €460 | = |
| Current assets29/58 | €33k | €10k | €12k | €24k | €18k | ▼ 28.2% |
| Amounts receivable within one year40/41 | €22k | €1k | €128 | €12k | €13k | ▲ 2.2% |
| Trade receivables40 | - | - | - | €10k | €11k | ▲ 7.7% |
| Other amounts receivable41 | - | €1k | €128 | €2k | €2k | ▼ 21.1% |
| Cash at bank and in hand54/58 | €10k | €9k | €12k | €12k | €5k | ▼ 59.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €995k | €929k | €888k | €858k | €806k | ▼ 6.1% |
| Equity10/15 | €383k | €362k | €339k | €319k | €288k | ▼ 9.9% |
| Contributions10/11 | €116k | €116k | €116k | €116k | €116k | = |
| Capital10 | - | €116k | - | - | - | - |
| Issued capital100 | - | €129k | - | - | - | - |
| Uncalled capital101 | - | €13k | - | - | - | - |
| Revaluation surpluses12 | - | €228k | €228k | €228k | €228k | = |
| Reserves13 | €13k | €13k | €13k | €13k | €13k | = |
| Non-distributable reserves130/1 | - | €13k | - | - | - | - |
| Legal reserve130 | - | €13k | - | - | - | - |
| Distributable reserves133 | - | - | €13k | €13k | €13k | = |
| Profit (loss) carried forward14 | €-17k | €-35k | €-56k | €-72k | €-101k | ▼ 39.4% |
| Investment grants15 | - | €40k | €38k | €35k | €32k | ▼ 8.8% |
| Amounts payable17/49 | €612k | €567k | €550k | €539k | €518k | ▼ 3.8% |
| Amounts payable after more than one year17 | €424k | €396k | €369k | €340k | €315k | ▼ 7.4% |
| Financial debts170/4 | - | €396k | €369k | €340k | €315k | ▼ 7.4% |
| Amounts payable within one year42/48 | €188k | €171k | €180k | €199k | €204k | ▲ 2.2% |
| Current portion of amounts payable after more than one year42 | - | €37k | €39k | €35k | €28k | ▼ 21.5% |
| Trade debts44 | €18k | €448 | €11k | €34k | €17k | ▼ 48.6% |
| Suppliers440/4 | - | €448 | €11k | €34k | €17k | ▼ 48.6% |
| Advances received on contracts in progress46 | - | €405 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €541 | - | €174 | €145 | ▼ 16.9% |
| Taxes450/3 | - | €541 | - | €174 | €145 | ▼ 16.9% |
| Other amounts payable47/48 | - | €132k | €130k | €130k | €159k | ▲ 21.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-30k | €-19k | €-21k | €-17k | €-28k | ▼ 71.0% |
| + Depreciation and write-downs630 | €45k | €43k | €43k | €42k | €44k | ▲ 2.8% |
| Operating cash flow (approximation) | €15k | €25k | €22k | €26k | €15k | ▼ 41.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €2k | - |
| Change in cash | - | €-2k | €3k | €46 | €-7k | ▼ 15,669% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
25-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
30-06
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
21-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
10-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tournai · 1 establishment unit since 2007
Ground area
1.4 ha
Building footprint
683 m²
Volume, LiDAR
9,250 m³
Parcel 57042C0625/00T000, Wallonia · tallest building 18.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ALTER ECO
since 20072.159.385.690
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57042C0625/00T000 | Wallonia | 1.4 ha | 1 · 683 m² | 18.0 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ACOUSTIQ
BE 0648.698.485
Wommelgem · Eq €287,651
De Mulder Projects
BE 0547.654.080
Affligem · Eq €288,070
HEMTITEC
BE 0478.324.717
Geraardsbergen · Eq €288,625
CROMBEZ CONSTRUCTIONS
BE 0704.854.161
Houthulst · Eq €289,180
GOKAS ISOL
BE 0826.233.429
Braine-l'Alleud · Eq €285,487
Of 4,271 companies in sector 43230 we hold annual accounts for 1,240. 895 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-01-2007
Fiscal year end30-06
Activities, NACEBEL 2025
43230Insulation installation
43350Other building finishing work
43240Other construction installation
43320Joinery installation
43332Laying of wooden floor and wall coverings
43422Screed work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.