Financials
- Fiscal year
- 2025
- Turnover
- €29.1m
- Profit
- €1.4m
- Solvency
- 39.7%
Turnover▲ 7.1%
Net result
20182025
Canalco
ActiveSummary
Canalco has been active since 1969 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.7m and a net result of €1.4m. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 49% of 340 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Construction of utility projects for electricity and telecommunications
NACE 42220Civil engineering NACE 42211NACE 45215
#1 company by total assets in Grobbendonk, Construction sector1 site
How big
€29.1mturnover 2025
- Staff
- 98.7 FTE
- Equity
- €6.7m
- Profit
- €1.4m
Who decides
- Parent
- Canalfin Infra Group · 100%
- Board
- 3 members
- Holdings
- 1
Auditor: Moore AuditAccounts 29 d early
Why 90- Liquidity: current ratio 1.60, cash €477,260, halved+ Founded in 1969+ Profit of €1.4m (FY 2025)+ Size: turnover €29.1m, 98.7 FTE, total assets €16.9mShow the evidence
Checked score
Score 2025
90
/ 100
Excellent
Probability in this band: under 0.55%
Better than 52% of its sector peers (NACE 42, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Average
Solvency
65+4
equity 39.7% of total assets
Liquidity
25-18
short-term debt 56.0% · cash 2.8%
Profitability
70+10
return on assets 8.3%
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
- Liquidity: current ratio 1.60, cash €477,260, halved raises the probability
- Founded in 1969 lowers the probability for this profile
- Profit of €1.4m (FY 2025) lowers the probability
- Size: turnover €29.1m, 98.7 FTE, total assets €16.9m lowers the probability for this profile
Credit up to €600,000 at 30 days acceptable
Liquidity ample (current ratio 1.6 against 1.52 in 2024; short-term debt: 56% and cash: 2.8% of total assets), but 60.3% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 42, medium-sized). Better than this share of them on solvency 59%, liquidity 25%, profitability 53%, growth against the median 70%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
21 d early
2023
20 d early
2022
23 d early
2021
11 d early
2020
14 d early
2018
82 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 29 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 9 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close02-10-2026 today30-04-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Reappointments: Bertrand Jardinet (director) and Benoît…Mandate compensation · Mandate term
- Resignations: Elwin Schroven (director) and Filip…Appointment: Wim Noyens (director) ·…
Key points
- Positive: Result rose in 2025from €366,678 to €1.4m ▲ 281% View
- Positive: Company by total assets in Grobbendonk, Construction sectorin the Checked rankings #1 View
- Board changedlatest change 04-12-2025 · 3 in office 1 joined · 2 left View
- Positive: Always filed on timeaccounts within the deadline every year 8 years View
- Controlled by Canalfin Infra Groupknown shareholders 100% 100% View
- Positive: 7 profitable years in a rowprofit 2025: €1.4m 7 years View
- Active since 1969founded 17-09-1969 57 years View
By topic
Board & ownership
- Board
- 3 members
- Parent
- Canalfin Infra Group · 100%
- Known shareholders
- 100%
- Auditor
- Moore Audit
Go to Board & ownership
Network & group
- Group
- We Connect Infra
- Subsidiaries
- 1
- Mergers and contributions
- 1
1 subsidiary
Timeline
- Events
- 36
- Since
- 2004
- Next accounts
- by 30-04-2027
- 01-04-2026Annual accounts filed
- 29-01-2026Reappointments: Bertrand Jardinet (director) and Benoît Aerts…
- 02-01-2026Resignations: Elwin Schroven (director) and Filip Haeverans…
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Construction of utility projects for electricity and telecommunicationsNACE 42220
- Founded
- 17-09-1969
- Year ends
- 30-09
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 1
- Purpose
- Studie, berekening en uitvoering van alle openbare en private werken, handel, fabricatie…
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