ANDRAS
ActiveSummary
ANDRAS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,946 and a net result of €10,196. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 26% of 199 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+8
Solvency48▲+22
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 5.84 against 1.83 in 2024; short-term debt: 14.7% and cash: 0.9% of total assets), but 77.5% of the assets are financed with debt.
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Signals
Five 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 27
Relative position
BE, all sectors
reference
Manufacture of electrical equipment (NACE 27)
about 104% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
22.5%
Return on assets
21%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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
29 d late
2024
6 d late
2023
16 d late
2022
31 d late
2021
31 d late
2020
28 d late
2019
21 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€10,196▲ 4.9%
2024 · €9,723
Working capital
€34,453▲ 34.8%
2024 · €25,555
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 27, Manufacture of electrical equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€4,785-€16,981▼ 255%-€13,355▲ 21.4%€10,328€10,566▲ 2.3%
Net result-€5,349below the sector's middle half-€17,718below the sector's middle half▼ 231%-€14,123below the sector's middle half▲ 20.3%€9,723within the sector's middle half€10,196within the sector's middle half▲ 4.9%
Equity€22,867below the sector's middle half▼ 19.0%€5,149below the sector's middle half▼ 77.5%-€8,974below the sector's middle half€749below the sector's middle half€10,946below the sector's middle half▲ 1,360%
Total assets€73,396below the sector's middle half▲ 12.9%€63,529below the sector's middle half▼ 13.4%€47,087below the sector's middle half▼ 25.9%€65,492below the sector's middle half▲ 39.1%€48,570below the sector's middle half▼ 25.8%
Debt€50,529▲ 37.4%€58,380▲ 15.5%€56,061▼ 4.0%€64,742▲ 15.5%€37,625▼ 41.9%
Working capital€37,960below the sector's middle half▲ 377%€22,759within the sector's middle half▼ 40.0%€12,748within the sector's middle half▼ 44.0%€25,555within the sector's middle half▲ 100%€34,453within the sector's middle half▲ 34.8%
Solvency31.2%within the sector's middle half▼ 12.3pp8.1%below the sector's middle half▼ 23.1pp-19.1%below the sector's middle half▼ 27.2pp1.1%below the sector's middle half▲ 20.2pp22.5%within the sector's middle half▲ 21.4pp
Current ratio3.21above the sector's middle half▲ 2.001.91within the sector's middle half▼ 1.301.58within the sector's middle half▼ 0.331.83within the sector's middle half▲ 0.255.84above the sector's middle half▲ 4.00
Return on assets (ROA)-7.3%below the sector's middle half▼ 22.9pp-27.9%below the sector's middle half▼ 20.6pp-30.0%below the sector's middle half▼ 2.1pp14.8%within the sector's middle half▲ 44.8pp21.0%above the sector's middle half▲ 6.1pp
above
within
below
the middle half (P25 to P75) of NACE 27, Manufacture of electrical equipment, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €48,570
Fixed assets
€6,993 ▼ 23.9%
Current assets
€41,578 ▼ 26.1%
Equity and liabilities €48,570
Equity
€10,946 ▲ 1,360%
Debt
€37,625 ▼ 41.9%
Debt's share of the balance-sheet total falls from 98.9% to 77.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12,768▼
2024 · €13,411
Cash flow
€12,398▼
2024 · €12,807
Quick ratio
1.71▲
2024 · 0.87
Debt to equity
3.44
ROE
93.2%
Interest coverage
34.54▲
2024 · 22.20
Debt ≤ 1 year
€7,125▼
2024 · €30,742
Debt > 1 year
€30,500▼
2024 · €34,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,818 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
3.7%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,818 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,167 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,715 | €3,684 | €3,481 | €3,083 | €2,202 | ▼ 28.6% |
| Other operating charges640/8 | €1,059 | €728 | €4,917 | €923 | €825 | ▼ 10.7% |
| Operating charges capitalised as restructuring costs649 | - | -€227 | - | - | - | - |
| Gross operating margin9900 | €989 | -€12,795 | -€4,957 | €14,334 | €13,593 | ▼ 5.2% |
| Operating profit (loss)9901 | -€4,785 | -€16,981 | -€13,355 | €10,328 | €10,566 | ▲ 2.3% |
| Financial income75/76B | - | - | €220 | €0 | - | - |
| Recurring financial income75 | - | - | €220 | €0 | - | - |
| Financial charges65/66B | €564 | €738 | €988 | €604 | €370 | ▼ 38.8% |
| Recurring financial charges65 | €564 | €738 | €988 | €604 | €370 | ▼ 38.8% |
| Profit (loss) for the period before taxes9903 | -€5,349 | -€17,718 | -€14,123 | €9,723 | €10,196 | ▲ 4.9% |
| Profit (loss) for the period9904 | -€5,349 | -€17,718 | -€14,123 | €9,723 | €10,196 | ▲ 4.9% |
| Profit (loss) for the period to be appropriated9905 | -€5,349 | -€17,718 | -€14,123 | €9,723 | €10,196 | ▲ 4.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73,396 | €63,529 | €47,087 | €65,492 | €48,570 | ▼ 25.8% |
| Fixed assets21/28 | €18,277 | €15,759 | €12,278 | €9,195 | €6,993 | ▼ 23.9% |
| Intangible fixed assets21 | €6,229 | €4,995 | €3,761 | €2,643 | €1,842 | ▼ 30.3% |
| Tangible fixed assets22/27 | €12,048 | €10,764 | €8,517 | €6,552 | €5,150 | ▼ 21.4% |
| Plant, machinery and equipment23 | €6,361 | €5,235 | €4,108 | €3,031 | €2,372 | ▼ 21.8% |
| Furniture and vehicles24 | €1,107 | €525 | €146 | €0 | - | - |
| Other tangible fixed assets26 | €4,580 | €5,005 | €4,263 | €3,521 | €2,779 | ▼ 21.1% |
| Current assets29/58 | €55,120 | €47,769 | €34,808 | €56,297 | €41,578 | ▼ 26.1% |
| Stocks and contracts in progress3 | €51,202 | €36,402 | €29,402 | €29,402 | €29,402 | = |
| Stocks30/36 | €36,402 | €36,402 | €29,402 | €29,402 | €29,402 | = |
| Contracts in progress37 | €14,800 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €2,863 | €3,272 | €1,039 | €26,223 | €11,065 | ▼ 57.8% |
| Trade receivables40 | €2,863 | €3,272 | €1,039 | €26,223 | €11,065 | ▼ 57.8% |
| Cash at bank and in hand54/58 | €1,055 | €5,313 | €2,280 | €21 | €446 | ▲ 2,003% |
| Deferred charges and accrued income490/1 | - | €2,783 | €2,088 | €651 | €665 | ▲ 2.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73,396 | €63,529 | €47,087 | €65,492 | €48,570 | ▼ 25.8% |
| Equity10/15 | €22,867 | €5,149 | -€8,974 | €749 | €10,946 | ▲ 1,360% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Outside capital11 | €30,987 | - | - | - | - | - |
| Other1109/19 | €30,987 | - | - | - | - | - |
| Reserves13 | €3,099 | €3,099 | - | - | - | - |
| Non-distributable reserves130/1 | €3,099 | €3,099 | - | - | - | - |
| Reserves not available under the articles1311 | €3,099 | €3,099 | - | - | - | - |
| Profit (loss) carried forward14 | -€11,219 | -€28,937 | -€39,961 | -€30,237 | -€20,041 | ▲ 33.7% |
| Amounts payable17/49 | €50,529 | €58,380 | €56,061 | €64,742 | €37,625 | ▼ 41.9% |
| Amounts payable after more than one year17 | €33,370 | €33,370 | €34,000 | €34,000 | €30,500 | ▼ 10.3% |
| Financial debts170/4 | €33,370 | €33,370 | €34,000 | €34,000 | €30,500 | ▼ 10.3% |
| Amounts payable within one year42/48 | €17,159 | €25,010 | €22,061 | €30,742 | €7,125 | ▼ 76.8% |
| Current portion of amounts payable after more than one year42 | - | €527 | €548 | €548 | €853 | ▲ 55.7% |
| Trade debts44 | €3,884 | €8,451 | €1,755 | €3,289 | €431 | ▼ 86.9% |
| Suppliers440/4 | €3,884 | €8,451 | €1,755 | €3,289 | €431 | ▼ 86.9% |
| Taxes, remuneration and social security45 | €1,450 | €3,848 | €3,780 | €2,453 | €2,341 | ▼ 4.6% |
| Taxes450/3 | €1,450 | €3,848 | €3,780 | €2,453 | €2,341 | ▼ 4.6% |
| Other amounts payable47/48 | €11,825 | €12,184 | €15,977 | €24,452 | €3,500 | ▼ 85.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,349 | -€17,718 | -€14,123 | €9,723 | €10,196 | ▲ 4.9% |
| + Depreciation and write-downs630 | €4,715 | €3,684 | €3,481 | €3,083 | €2,202 | ▼ 28.6% |
| Operating cash flow (approximation) | -€634 | -€14,034 | -€10,641 | €12,807 | €12,398 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | -€1,167 | €0 | €0 | €0 | - |
| Change in cash | - | €4,259 | -€3,033 | -€2,258 | €425 | ▲ 119% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Highest result since 2018net €10,196 ▲4.9%
Operating result €10,566, net result €10,196, both a record.
31-12
Financial
Liquidity triplescurrent ratio 5.84
Current ratio from 1.83 to 5.84; short-term debt falls from €30,742 to €7,125.
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 6 days late
2024
31-12
Financial
Back to profitnet €9,723
Net result €9,723 after 3 loss-making years.
16-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 16 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 3.21
Current ratio from 1.22 to 3.21; short-term debt falls from €36,783 to €17,159.
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 28 days late
2020
31-12
Financial
Back to profitnet €10,160
Net result €10,160 after 2 loss-making years.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 17 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Seraing · 1 establishment unit since 1989
Ground area
991 m²
Building footprint
593 m²
Volume, LiDAR
3,084 m³
Parcel 62096A0288/00F006, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ANDRAS
since 19892.044.996.362
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62096A0288/00F006 | Wallonia | 991 m² | 1 · 593 m² | 8.8 m · 2 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.
Recognitions · licences · registrations
Recognised contractor
2 categoriesANDRAS SRL28647
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Of 257 companies in sector 27402 we hold annual accounts for 157. 63 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
Founded19-09-1989
Fiscal year end31-12
Activities, NACEBEL 2025
27402Manufacture of electrical equipment
32990Other manufacturing not elsewhere classified
46900Non-specialised wholesale trade
47552Retail sale of lighting equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438343691
Also
9925:BE0438343691
Registered
10-09-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.