BRELCO
ActiveSummary
BRELCO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.07M and a net result of €237k. Equity is growing by ~41.9% per year across the filed fiscal years. Its solvency ranks better than 20% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-5
Solvency45▼-4
Growth67▼-11
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity tight (current ratio 1.15 against 1.27 in 2024; short-term debt: 60.1% and cash: 12.1% of total assets), and 80.3% of the assets are financed with debt.
Credit check for your own amount and term
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
19.7%
Return on assets
4.4%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-09-2026, 32 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
32 d late
2024
52 d early
2023
51 d early
2022
68 d early
2021
62 d early
2020
71 d early
2019
142 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€9.60M▲ 3.6%
2024 · €9.26M
2024: €9.26M
2025: €9.60M▲ +3.6% vs 2024
2024 → 2025
EBIT margin
4.3%▼ 2.4pp
2024 · 6.7%
2024: 6.7%
2025: 4.3%▼ -35.3% vs 2024
2024 → 2025
Net result
€237k▼ 42.7%
2024 · €413k
2018: €34k
2019: €97k▲ +185% vs 2018
2020: €81k▼ -17.2% vs 2019
2021: €-37k▼ -146% vs 2020lowest in 8 years
2022: €470k▲ +1379% vs 2021highest in 8 years
2023: €234k▼ -50.2% vs 2022
2024: €413k▲ +76.6% vs 2023
2025: €237k▼ -42.7% vs 2024
2018 → 2025
Working capital
€491k▼ 38.3%
2024 · €795k
2018: €117k
2019: €191k▲ +62.9% vs 2018
2020: €49k▼ -74.4% vs 2019lowest in 8 years
2021: €238k▲ +387% vs 2020
2022: €822k▲ +245% vs 2021highest in 8 years
2023: €426k▼ -48.1% vs 2022
2024: €795k▲ +86.6% vs 2023
2025: €491k▼ -38.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€9.26M€9.60M▲ 3.6%
2024: €9.26M
2025: €9.60M▲ +3.6% vs 2024
Equity€280k-€750k▲ 168%€953k▲ 27.1%€1.37M▲ 43.3%€1.07M▼ 21.5%
2021: €280klowest in 5 years
2022: €750k▲ +168% vs 2021
2023: €953k▲ +27.1% vs 2022
2024: €1.37M▲ +43.3% vs 2023highest in 5 years
2025: €1.07M▼ -21.5% vs 2024
Operating result€-36k-€577k€357k▼ 38.1%€619k▲ 73.3%€415k▼ 33.0%
2021: €-36klowest in 5 years
2022: €577k▲ +1711% vs 2021
2023: €357k▼ -38.1% vs 2022
2024: €619k▲ +73.3% vs 2023highest in 5 years
2025: €415k▼ -33.0% vs 2024
Net result€-37k-€470k€234k▼ 50.2%€413k▲ 76.6%€237k▼ 42.7%
2021: €-37klowest in 5 years
2022: €470k▲ +1379% vs 2021highest in 5 years
2023: €234k▼ -50.2% vs 2022
2024: €413k▲ +76.6% vs 2023
2025: €237k▼ -42.7% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.43M
Fixed assets
€1.68M ▼ 10.9%
Current assets
€3.75M ▲ 0.6%
Equity and liabilities €5.43M
Equity
€1.07M ▼ 21.5%
Provisions
€33k ▼ 5.9%
Debt
€4.32M ▲ 2.7%
Debt's share of the balance-sheet total rises from 75.0% to 79.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€617k▼
2024 · €790k
Cash flow
€439k▼
2024 · €584k
Current ratio
1.15▼
2024 · 1.27
Quick ratio
0.87▼
2024 · 1.06
Debt to equity
4.03▲
2024 · 3.08
ROE
22.1%▼
2024 · 30.2%
ROA
4.4%▼
2024 · 7.4%
Interest coverage
10.15▼
2024 · 11.77
Debt ≤ 1 year
€3.26M▲
2024 · €2.94M
Debt > 1 year
€904k▼
2024 · €1.09M
Income taxes
€122k▼
2024 · €155k
Staff costs
€2.19M▲
2024 · €1.79M
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 · 68 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.61M€5.43M▼
Formation expenses20€0-
Fixed assets21/28€1.88M€1.68M▼
Tangible fixed assets22/27€1.88M€1.67M▼
Land and buildings22€1.42M€1.36M▼
Plant, machinery and equipment23€168k€180k▲
Furniture and vehicles24€289k€136k▼
Financial fixed assets28€3k€3k=
Current assets29/58€3.73M€3.75M▲
Stocks and contracts in progress3€605k€908k▲
Stocks30/36€605k€908k▲
Amounts receivable within one year40/41€2.17M€1.96M▼
Trade receivables40€2.04M€1.78M▼
Other amounts receivable41€130k€175k▲
Current investments50/53€54k€74k▲
Cash at bank and in hand54/58€855k€660k▼
Deferred charges and accrued income490/1€46k€156k▲
Equity and liabilities
Total equity and liabilities10/49€5.61M€5.43M▼
Equity10/15€1.37M€1.07M▼
Contributions10/11€75k€75k=
Reserves13€1.29M€997k▼
Tax-exempt reserves132€106k€99k▼
Distributable reserves133€1.19M€897k▼
Profit (loss) carried forward14€0€0=
Provisions and deferred taxes16€35k€33k▼
Deferred taxes168€35k€33k▼
Amounts payable17/49€4.21M€4.32M▲
Amounts payable after more than one year17€1.09M€904k▼
Financial debts170/4€1.09M€904k▼
Amounts payable within one year42/48€2.94M€3.26M▲
Current portion of amounts payable after more than one year42€294k€116k▼
Financial debts43€601k€750k▲
Credit institutions430/8€600k€750k▲
Other loans439€809€0▼
Trade debts44€1.79M€1.74M▼
Suppliers440/4€1.79M€1.74M▼
Taxes, remuneration and social security45€217k€252k▲
Taxes450/3€5k€3k▼
Remuneration and social security454/9€212k€249k▲
Other amounts payable47/48€40k€400k▲
Accrued charges and deferred income492/3€185k€157k▼
Income statement
Code20242025
Turnover70€9.26M€9.60M▲
Non-recurring operating income76A€14k€0▼
Goods, raw materials, services and sundry goods60/61€6.79M€6.80M▲
Remuneration, social security and pensions62€1.79M€2.19M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€171k€202k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€64k▲
Other operating charges640/8€25k€21k▼
Non-recurring operating charges66A€500€0▼
Gross operating margin9900€2.61M€2.89M▲
Operating profit (loss)9901€619k€415k▼
Financial income75/76B€14k€2k▼
Recurring financial income75€14k€2k▼
Financial charges65/66B€67k€61k▼
Recurring financial charges65€67k€61k▼
Profit (loss) for the period before taxes9903€566k€356k▼
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€155k€122k▼
Profit (loss) for the period9904€413k€237k▼
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€419k€243k▼
Appropriation of the result
Profit (loss) to be appropriated9906€419k€243k▼
Transfer from equity791/2€0€288k▲
Transfer to equity691/2€419k€0▼
To other reserves6921€419k€0▼
Profit to be distributed694/7€0€531k▲
Return on contributions (dividend)694€0€531k▲
Social balance
Average headcount (FTE)908724.828.3▲
The notes to these accounts (24 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €9.26M | €9.60M | ▲ 3.6% |
| Non-recurring operating income76A | €41k | €170k | €15k | €14k | €0 | ▼ 100% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €6.79M | €6.80M | ▲ 0.1% |
| Remuneration, social security and pensions62 | €987k | €1.24M | €1.41M | €1.79M | €2.19M | ▲ 22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99k | €75k | €133k | €171k | €202k | ▲ 18.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €2k | €0 | - | €2k | €64k | ▲ 3,203% |
| Other operating charges640/8 | €18k | €10k | €14k | €25k | €21k | ▼ 15.5% |
| Non-recurring operating charges66A | €387 | €8k | €307 | €500 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.07M | €1.91M | €1.92M | €2.61M | €2.89M | ▲ 10.8% |
| Operating profit (loss)9901 | €-36k | €577k | €357k | €619k | €415k | ▼ 33.0% |
| Financial income75/76B | €25k | €36k | €40k | €14k | €2k | ▼ 83.5% |
| Recurring financial income75 | €25k | €36k | €40k | €14k | €2k | ▼ 83.5% |
| Financial charges65/66B | €22k | €26k | €59k | €67k | €61k | ▼ 9.4% |
| Recurring financial charges65 | €22k | €26k | €59k | €67k | €61k | ▼ 9.4% |
| Profit (loss) for the period before taxes9903 | €-33k | €587k | €338k | €566k | €356k | ▼ 37.0% |
| Transfer from deferred taxes780 | - | €2k | €2k | €2k | €2k | = |
| Transfer to deferred taxes680 | - | €41k | €0 | - | - | - |
| Income taxes67/77 | €4k | €78k | €107k | €155k | €122k | ▼ 21.5% |
| Profit (loss) for the period9904 | €-37k | €470k | €234k | €413k | €237k | ▼ 42.7% |
| Transfer from tax-exempt reserves789 | - | €6k | €6k | €6k | €6k | = |
| Transfer to tax-exempt reserves689 | - | €124k | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-37k | €352k | €240k | €419k | €243k | ▼ 42.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.62M | €3.73M | €3.91M | €5.61M | €5.43M | ▼ 3.3% |
| Formation expenses20 | - | - | €337 | €0 | - | - |
| Fixed assets21/28 | €795k | €1.35M | €1.78M | €1.88M | €1.68M | ▼ 10.9% |
| Tangible fixed assets22/27 | €792k | €1.34M | €1.78M | €1.88M | €1.67M | ▼ 10.9% |
| Land and buildings22 | €545k | €1.21M | €1.45M | €1.42M | €1.36M | ▼ 4.4% |
| Plant, machinery and equipment23 | €76k | €110k | €145k | €168k | €180k | ▲ 6.9% |
| Furniture and vehicles24 | €170k | €28k | €180k | €289k | €136k | ▼ 53.1% |
| Financial fixed assets28 | €3k | €3k | €3k | €3k | €3k | = |
| Current assets29/58 | €1.82M | €2.38M | €2.13M | €3.73M | €3.75M | ▲ 0.6% |
| Stocks and contracts in progress3 | €411k | €326k | €370k | €605k | €908k | ▲ 50.1% |
| Stocks30/36 | €411k | €326k | €370k | €605k | €908k | ▲ 50.1% |
| Amounts receivable within one year40/41 | €1.09M | €1.54M | €1.37M | €2.17M | €1.96M | ▼ 10.0% |
| Trade receivables40 | €968k | €1.42M | €1.28M | €2.04M | €1.78M | ▼ 12.9% |
| Other amounts receivable41 | €117k | €118k | €87k | €130k | €175k | ▲ 35.1% |
| Current investments50/53 | €10k | €22k | €35k | €54k | €74k | ▲ 36.7% |
| Cash at bank and in hand54/58 | €295k | €468k | €315k | €855k | €660k | ▼ 22.8% |
| Deferred charges and accrued income490/1 | €22k | €23k | €39k | €46k | €156k | ▲ 242% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.62M | €3.73M | €3.91M | €5.61M | €5.43M | ▼ 3.3% |
| Equity10/15 | €280k | €750k | €953k | €1.37M | €1.07M | ▼ 21.5% |
| Contributions10/11 | €75k | €75k | €75k | €75k | €75k | = |
| Reserves13 | €242k | €675k | €878k | €1.29M | €997k | ▼ 22.8% |
| Non-distributable reserves130/1 | €8k | €8k | €0 | - | - | - |
| Reserves not available under the articles1311 | €8k | €8k | €0 | - | - | - |
| Tax-exempt reserves132 | - | €118k | €112k | €106k | €99k | ▼ 5.9% |
| Distributable reserves133 | €234k | €549k | €766k | €1.19M | €897k | ▼ 24.3% |
| Profit (loss) carried forward14 | €-37k | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | - | €39k | €37k | €35k | €33k | ▼ 5.9% |
| Deferred taxes168 | - | €39k | €37k | €35k | €33k | ▼ 5.9% |
| Amounts payable17/49 | €2.34M | €2.94M | €2.92M | €4.21M | €4.32M | ▲ 2.7% |
| Amounts payable after more than one year17 | €648k | €1.06M | €1.09M | €1.09M | €904k | ▼ 17.0% |
| Financial debts170/4 | €648k | €1.06M | €1.09M | €1.09M | €904k | ▼ 17.0% |
| Amounts payable within one year42/48 | €1.59M | €1.56M | €1.70M | €2.94M | €3.26M | ▲ 11.1% |
| Current portion of amounts payable after more than one year42 | €31k | €106k | €95k | €294k | €116k | ▼ 60.5% |
| Financial debts43 | €478k | €480k | €451k | €601k | €750k | ▲ 24.8% |
| Credit institutions430/8 | €458k | €451k | €450k | €600k | €750k | ▲ 25.0% |
| Other loans439 | €19k | €29k | €809 | €809 | €0 | ▼ 100% |
| Trade debts44 | €1.02M | €809k | €813k | €1.79M | €1.74M | ▼ 2.3% |
| Suppliers440/4 | €1.02M | €809k | €813k | €1.79M | €1.74M | ▼ 2.3% |
| Taxes, remuneration and social security45 | €20k | €134k | €234k | €217k | €252k | ▲ 16.3% |
| Taxes450/3 | €16k | €35k | €107k | €5k | €3k | ▼ 34.2% |
| Remuneration and social security454/9 | €4k | €99k | €127k | €212k | €249k | ▲ 17.4% |
| Other amounts payable47/48 | €37k | €29k | €110k | €40k | €400k | ▲ 895% |
| Accrued charges and deferred income492/3 | €105k | €317k | €125k | €185k | €157k | ▼ 14.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-37k | €470k | €234k | €413k | €237k | ▼ 42.7% |
| + Depreciation and write-downs630 | €99k | €75k | €133k | €171k | €202k | ▲ 18.3% |
| Operating cash flow (approximation) | €63k | €545k | €367k | €584k | €439k | ▼ 24.8% |
| Investment in fixed assets (approximation) | - | €-628k | €-565k | €-272k | €2k | ▲ 101% |
| Change in cash | - | €172k | €-152k | €540k | €-195k | ▼ 136% |
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
21-09
State Gazette act
Permanent representative: Frédéric SuetensPower of attorney5 facts ▸
State Gazette act
Permanent representative: Frédéric Suetens
Power of attorney5 facts ▸
- Board meeting, 28-08-2026
- Permanent representative, Frédéric Suetens (vaste vertegenwoordiger van de enige bestuurder)
- Other statement, goedkeuring wijziging vaste vertegenwoordiger, enige bestuurder
- Power of attorney, Frédéric De Ridder
- Power of attorney, Arthur de Callatay
01-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 32 days late
2025
09-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1MEq €1.37M ▲43.3%
3 profitable years in a row build equity to €1.37M.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €470k
Net result €470k after one loss-making year.
31-12
Financial
Equity above €500kEq €750k ▲168%
Equity rises from €280k to €750k.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-37k
Net result drops to €-37k, the lowest in the series; recovery starts the following year.
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
11-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Equity above €200kEq €236k ▲70.2%
2 profitable years in a row build equity to €236k.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Bornem · 1 establishment unit since 2012
Ground area
2,116 m²
Building footprint
922 m²
Volume, LiDAR
537 m³
Parcel 12007D0619/00P000, Flanders · tallest building 6.9 m. Linked by address, not a title deed.
1 establishment unit
BRELCO
since 20122.208.920.127
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007D0619/00P000 | Flanders | 2,116 m² | 1 · 922 m² | 6.9 m |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 19,190 EUR awarded · 18,679 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,500 EUR | 7,584 EUR |
| 2024 | 1 | 4,595 EUR | 4,000 EUR |
| 2023 | 2 | 6,424 EUR | 6,886 EUR |
| 2022 | 1 | 671 EUR | 209 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
4 categoriesBRELCO BV45627
Dual-learning approval
3 endedIndustrieel elektrotechnisch installateur (so)
Installateur elektrotechnische basiscomponenten duaal (so)
Residentieel elektrotechnisch installateur (so)
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 4,463 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
Founded04-04-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
33140Repair and maintenance of electrical equipment
43222Installation of electric heating, air conditioning, cooling and ventilation
46643Wholesale of electrical equipment, including installation materials
73300Public relations and communication consultancy
Contact
E-mail
jan.brusselmans@brelco.be
Phone
052556194
Scores and ratios are computed by Checked and are not a credit decision.