AQUALEX
ActiveAQUALEX has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.87M and a net result of €532k. Equity is growing by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 25% of 62 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
79
/ 100
Excellent▲ +15 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability70▲+22
Solvency24=
Growth75▲+23
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €310k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.05 in 2023), and 83.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 36
Relative position
BE, all sectors
reference
Sector 36
lower
← 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 2024Solvency, return and age of the figures
Solvency
16.7%
Return on assets
2.3%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
41 d early
2022
110 d early
2021
52 d early
2020
138 d early
2019
101 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€17.91M▲ 11.3%
2023 · €16.09M
2023: €16.09M
2023 → 2024
EBIT margin
5.2%▲ 2.5pp
2023 · 2.7%
2023: 2.7%
2023 → 2024
Net result
€532k▲ 122%
2023 · €240k
2018: €482k
2019: €837k
2020: €1.25M
2021: €478k
2022: €316k
2023: €240k
2018 → 2024
Working capital
€571k▲ 34.3%
2023 · €426k
2018: €30k
2019: €122k
2020: €-166k
2021: €330k
2022: €264k
2023: €426k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€16.09M€17.91M▲ 11.3%
Equity€2.24M-€2.87M▲ 28.3%€3.25M▲ 13.1%€3.29M▲ 1.3%€3.87M▲ 17.7%
Operating result€1.43M-€572k▼ 59.9%€430k▼ 24.9%€431k▲ 0.4%€932k▲ 116%
Net result€1.25M-€478k▼ 61.8%€316k▼ 33.7%€240k▼ 24.3%€532k▲ 122%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 116% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €23.13M
Fixed assets
€13.53M▲ 41.2%
Current assets
€9.61M▲ 10.0%
Equity and liabilities €23.13M
Equity
€3.87M▲ 17.7%
Provisions
€18k▲ 11.9%
Debt
€19.25M▲ 28.2%
The debt ratio rises from 82.0% to 83.2%: debt grows faster than equity.
Key figures and ratios
EBITDA
€3.72M▲
2023 · €2.46M
Cash flow
€3.32M▲
2023 · €2.27M
Solvency
16.7%▼
2023 · 18.0%
Current ratio
1.06▲
2023 · 1.05
Quick ratio
0.74▲
2023 · 0.73
Debt / equity
4.97▲
2023 · 4.57
ROE
13.8%▲
2023 · 7.3%
ROA
2.3%▲
2023 · 1.3%
Interest coverage
9.20▼
2023 · 12.86
Debt
€19.25M▲
2023 · €15.01M
Debt ≤ 1 year
€9.04M▲
2023 · €8.31M
Debt > 1 year
€10.14M▲
2023 · €6.63M
Income taxes
€5k▼
2023 · €7k
Staff costs
€5.77M▲
2023 · €5.29M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€18.32M€23.13M▲
Fixed assets21/28€9.58M€13.53M▲
Intangible fixed assets21€2.74M€4.79M▲
Tangible fixed assets22/27€5.74M€7.15M▲
Land and buildings22€236k€211k▼
Plant, machinery and equipment23€3.79M€5.03M▲
Furniture and vehicles24€922k€1.03M▲
Leasing and similar rights25€47k€47k=
Other tangible fixed assets26€748k€834k▲
Financial fixed assets28€1.09M€1.58M▲
Affiliated companies280/1€85k€364k▲
Participating interests280€75k€100k▲
Amounts receivable281€10k€264k▲
Other financial fixed assets284/8€1.01M€1.22M▲
Amounts receivable and cash guarantees285/8€1.01M€1.22M▲
Current assets29/58€8.74M€9.61M▲
Amounts receivable after more than one year29€1.90M€2.13M▲
Other amounts receivable291€1.90M€2.13M▲
Stocks and contracts in progress3€2.66M€2.96M▲
Stocks30/36€2.66M€2.95M▲
Goods purchased for resale34€2.66M€2.95M▲
Contracts in progress37€3k€16k▲
Amounts receivable within one year40/41€3.64M€3.05M▼
Trade receivables40€3.44M€2.75M▼
Other amounts receivable41€202k€291k▲
Cash at bank and in hand54/58€310k€1.24M▲
Deferred charges and accrued income490/1€218k€227k▲
Equity and liabilities
Total equity and liabilities10/49€18.32M€23.13M▲
Equity10/15€3.29M€3.87M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€3.16M€3.69M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€3.16M€3.69M▲
Investment grants15€65k€115k▲
Provisions and deferred taxes16€16k€18k▲
Provisions for liabilities and charges160/5€16k€18k▲
Other liabilities and charges164/5€16k€18k▲
Amounts payable17/49€15.01M€19.25M▲
Amounts payable after more than one year17€6.63M€10.14M▲
Financial debts170/4€6.63M€10.14M▲
Leasing and similar obligations172€2k€0▼
Credit institutions173€6.63M€10.14M▲
Amounts payable within one year42/48€8.31M€9.04M▲
Current portion of amounts payable after more than one year42€1.88M€2.21M▲
Financial debts43€218k€218k=
Credit institutions430/8€218k€218k=
Trade debts44€2.52M€2.57M▲
Suppliers440/4€2.52M€2.57M▲
Advances received on contracts in progress46€621k€450k▼
Taxes, remuneration and social security45€1.49M€1.45M▼
Taxes450/3€309k€392k▲
Remuneration and social security454/9€1.18M€1.06M▼
Other amounts payable47/48€1.59M€2.14M▲
Accrued charges and deferred income492/3€69k€66k▼
Income statement
Code20232024
Operating income70/76A€16.82M€18.90M▲
Turnover70€16.09M€17.91M▲
Change in stocks of work in progress, finished goods and contracts in progress71€3k€14k▲
Own construction capitalised72€302k€702k▲
Other operating income74€409k€255k▼
Non-recurring operating income76A€15k€16k▲
Operating charges60/66A€16.39M€17.96M▲
Goods for resale, raw materials and consumables60€4.39M€4.19M▼
Purchases600/8€4.19M€4.48M▲
Change in stocks: decrease (increase)609€200k€-288k▼
Services and other goods61€4.46M€5.12M▲
Remuneration, social security and pensions62€5.29M€5.77M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.03M€2.79M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€9k€48k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€3k€2k▼
Other operating charges640/8€48k€30k▼
Non-recurring operating charges66A€164k€11k▼
Operating profit (loss)9901€431k€932k▲
Financial income75/76B€18k€26k▲
Recurring financial income75€18k€26k▲
Income from current assets751€18k€24k▲
Other financial income752/9€486€2k▲
Financial charges65/66B€203k€420k▲
Recurring financial charges65€203k€420k▲
Debt charges650€191k€404k▲
Other financial charges652/9€11k€16k▲
Profit (loss) for the period before taxes9903€247k€538k▲
Income taxes67/77€7k€5k▼
Taxes670/3€7k€5k▼
Profit (loss) for the period9904€240k€532k▲
Profit (loss) for the period to be appropriated9905€240k€532k▲
Appropriation of the result
Profit (loss) to be appropriated9906€240k€532k▲
Transfer to equity691/2€240k€532k▲
To other reserves6921€240k€532k▲
Social balance
Average headcount (FTE)908771.574.5▲
The notes to these accounts (109 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €240k ▼24.3%
Net result drops to €240k, the lowest in the series; recovery starts the following year.
12-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
15-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €1.25M ▲49.3%
Operating result €1.43M, net result €1.25M, both a record.
31-12
Financial
Equity above €2MEq €2.24M ▲45.8%
3 profitable years in a row build equity to €2.24M.
21-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €1MEq €1.53M ▲81.1%
2 profitable years in a row build equity to €1.53M.
12-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
23-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-04-2020
Alexander Vanlerberghe: Resigned as Director
01-04-2020
Geniale: Resigned as Director
Location & real-estate footprint
Registered office, Deerlijk · 2 establishment units since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Nijverheidslaan 60A8540 DeerlijkGround area
2.6 ha
Building footprint
1.2 ha
Volume, LiDAR
76,154 m³
3 parcels, Flanders · tallest building 26.1 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
AQUALEX
since 20102.184.887.782
AQUALEX
since 20222.334.906.893
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34009B0981/00V000 | Flanders | 1.5 ha | 1 · 9,226 m² | 9.2 m · 3 fl. |
| 34009B0981/00T000 | Flanders | 1.1 ha | 1 · 2,604 m² | - |
| 31332E0080/00A000 | Flanders | 310 m² | 1 · 310 m² | 26.1 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 17 entries · 516,133 EUR awarded · 482,478 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 7 | 55,494 EUR | 136,894 EUR |
| 2024 | 3 | 62,200 EUR | 13,705 EUR |
| 2023 | 3 | 12,442 EUR | 139,614 EUR |
| 2022 | 4 | 385,997 EUR | 192,265 EUR |
Schemes
Ontwikkelingsproject
O&O-haalbaarheidsstudie
Subsidies voor sociale tewerkstellingsprojecten
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Show 1 more
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
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Of 134 companies in sector 36000 we hold annual accounts for 68. 23 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-01-2010
Fiscal year end31-12
Activities, NACEBEL
36000Water collection, treatment and supply
46649Wholesale of other machinery and equipment
46441Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.