E&C
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €2,955, larger than the loss of €358 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Staff
| Item | 31-12-2023 |
|---|---|
| Average over the year, in full-time equivalents | 0.2 |
| Joined | 13 |
| Left | 12 |
Source: social balance sheet in the 2023 annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €5,283 | €94 | -€657 | - |
| Other operating charges640/8 | €682 | €0 | €1,062 | - |
| Gross operating margin9900 | €2,678 | -€264 | -€2,551 | ▼ 868% |
| Operating profit (loss)9901 | -€3,287 | -€358 | -€2,955 | ▼ 727% |
| Financial income75/76B | €2 | €0 | - | - |
| Recurring financial income75 | €2 | €0 | - | - |
| Financial charges65/66B | €74 | €111 | €196 | ▲ 75.7% |
| Recurring financial charges65 | €74 | €111 | €196 | ▲ 75.7% |
| Profit (loss) for the period before taxes9903 | -€3,360 | -€469 | -€3,151 | ▼ 572% |
| Income taxes67/77 | €0 | - | - | - |
| Profit (loss) for the period9904 | -€3,360 | -€469 | -€3,151 | ▼ 572% |
| Profit (loss) for the period to be appropriated9905 | -€3,360 | -€469 | -€3,151 | ▼ 572% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €3,635 | €1,629 | €1,081 | ▼ 33.6% |
| Current assets29/58 | €3,635 | €1,629 | €1,081 | ▼ 33.6% |
| Amounts receivable within one year40/41 | €1,310 | €1,064 | €775 | ▼ 27.2% |
| Trade receivables40 | €675 | €1,064 | €775 | ▼ 27.2% |
| Other amounts receivable41 | €635 | €0 | - | - |
| Cash at bank and in hand54/58 | €549 | €564 | €306 | ▼ 45.7% |
| Deferred charges and accrued income490/1 | €1,776 | €0 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €3,635 | €1,629 | €1,081 | ▼ 33.6% |
| Equity10/15 | -€1,947 | -€2,416 | -€5,567 | ▼ 130% |
| Contributions10/11 | €500 | €500 | €500 | = |
| Profit (loss) carried forward14 | -€2,447 | -€2,916 | -€6,067 | ▼ 108% |
| Amounts payable17/49 | €5,582 | €4,044 | €6,648 | ▲ 64.4% |
| Amounts payable within one year42/48 | €5,582 | €4,044 | €6,648 | ▲ 64.4% |
| Trade debts44 | €2,615 | €100 | €504 | ▲ 404% |
| Suppliers440/4 | €2,615 | €100 | €504 | ▲ 404% |
| Taxes, remuneration and social security45 | €830 | €0 | - | - |
| Taxes450/3 | €0 | - | - | - |
| Remuneration and social security454/9 | €830 | €0 | - | - |
| Other amounts payable47/48 | €2,137 | €3,944 | €6,144 | ▲ 55.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,360 | -€469 | -€3,151 | ▼ 572% |
| Operating cash flow (approximation) | -€3,360 | -€469 | -€3,151 | ▼ 572% |
| Change in cash | - | €15 | -€258 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,008 companies had the same profile as E&C has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of E&C itself: 3.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,008 companies, not a prediction for E&C. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.