E&C Group
ActiveE&C Group has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.02M and a net result of €919k. Equity is growing by ~26.8% per year across the filed fiscal years. Its solvency ranks better than 33% of 709 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+9
Solvency49▲+10
Growth85=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 2.23 against 1.13 in 2024; short-term debt: 17.9% and cash: 4.3% of total assets), but 76.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
23.9%
Return on assets
10.9%
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
43 d late
2023
61 d late
2022
31 d late
2021
81 d late
2020
27 d late
2019
31 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€13.79M▲ 10.3%
2024 · €12.50M
2023: €9.22M
2024: €12.50M
2023 → 2025
EBIT margin
2.4%▲ 3.5pp
2024 · -1.2%
2023: -6.8%
2024: -1.2%
2023 → 2025
Net result
€919k▲ 85.8%
2024 · €494k
2018: €-55k
2019: €148k
2020: €185k
2021: €-164k
2022: €241k
2023: €-576k
2024: €494k
2018 → 2025
Working capital
€1.86M▲ 351%
2024 · €413k
2018: €-246k
2019: €-214k
2020: €-162k
2021: €103k
2022: €728k
2023: €-1.17M
2024: €413k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€9.22M€12.50M▲ 35.5%€13.79M▲ 10.3%
Equity€438k-€679k▲ 55.1%€102k▼ 84.9%€1.10M▲ 971%€2.02M▲ 83.8%
Operating result€-295k-€155k€-624k€-147k▲ 76.4%€326k
Net result€-164k-€241k€-576k€494k€919k▲ 85.8%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €326k after a loss of €147k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.44M
Fixed assets
€5.07M▲ 11.3%
Current assets
€3.37M▼ 5.5%
Equity and liabilities €8.44M
Equity
€2.02M▲ 83.8%
Debt
€6.43M▼ 8.5%
The debt ratio falls from 86.5% to 76.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.18M▲
2024 · €558k
Cash flow
€1.78M▲
2024 · €1.20M
Solvency
23.9%▲
2024 · 13.5%
Current ratio
2.23▲
2024 · 1.13
Quick ratio
2.23▲
2024 · 1.13
Debt / equity
3.19▼
2024 · 6.41
ROE
45.6%▲
2024 · 45.1%
ROA
10.9%▲
2024 · 6.1%
Interest coverage
28.66▲
2024 · 9.03
Debt
€6.43M▼
2024 · €7.03M
Debt ≤ 1 year
€1.51M▼
2024 · €3.15M
Debt > 1 year
€575k▼
2024 · €839k
Income taxes
€2k▼
2024 · €6k
Staff costs
€1.90M▼
2024 · €1.92M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€8.12M€8.44M▲
Fixed assets21/28€4.56M€5.07M▲
Intangible fixed assets21€3.49M€3.83M▲
Tangible fixed assets22/27€120k€70k▼
Plant, machinery and equipment23€4k€4k▼
Furniture and vehicles24€38k€10k▼
Leasing and similar rights25€49k€31k▼
Other tangible fixed assets26€30k€25k▼
Financial fixed assets28€949k€1.18M▲
Affiliated companies280/1€937k€1.17M▲
Participating interests280€457k€457k=
Amounts receivable281€480k€712k▲
Companies linked by participating interests282/3€3k€0▼
Participating interests282€780€0▼
Amounts receivable283€2k€0▼
Other financial fixed assets284/8€8k€8k▼
Amounts receivable and cash guarantees285/8€8k€8k▼
Current assets29/58€3.56M€3.37M▼
Amounts receivable after more than one year29€159k€10k▼
Other amounts receivable291€159k€10k▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€2.25M€2.40M▲
Trade receivables40€2.25M€2.38M▲
Other amounts receivable41€402€21k▲
Cash at bank and in hand54/58€344k€365k▲
Deferred charges and accrued income490/1€808k€597k▼
Equity and liabilities
Total equity and liabilities10/49€8.12M€8.44M▲
Equity10/15€1.10M€2.02M▲
Contributions10/11€509k€509k=
Reserves13€588k€1.51M▲
Distributable reserves133€588k€1.51M▲
Amounts payable17/49€7.03M€6.43M▼
Amounts payable after more than one year17€839k€575k▼
Financial debts170/4€84k€27k▼
Leasing and similar obligations172€31k€15k▼
Credit institutions173€53k€12k▼
Other amounts payable178/9€755k€548k▼
Amounts payable within one year42/48€3.15M€1.51M▼
Current portion of amounts payable after more than one year42€74k€57k▼
Financial debts43€1.28M€744k▼
Credit institutions430/8€1.28M€744k▼
Trade debts44€1.44M€335k▼
Suppliers440/4€1.44M€335k▼
Taxes, remuneration and social security45€342k€364k▲
Taxes450/3€98k€146k▲
Remuneration and social security454/9€244k€218k▼
Other amounts payable47/48€12k€10k▼
Accrued charges and deferred income492/3€3.04M€4.34M▲
Income statement
Code20242025
Operating income70/76A€12.99M€13.99M▲
Turnover70€12.50M€13.79M▲
Own construction capitalised72€153k€147k▼
Other operating income74€278k€51k▼
Non-recurring operating income76A€67k€0▼
Operating charges60/66A€13.14M€13.66M▲
Services and other goods61€10.49M€10.84M▲
Remuneration, social security and pensions62€1.92M€1.90M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€705k€857k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k€50k▲
Other operating charges640/8€10k€12k▲
Non-recurring operating charges66A-€142
Operating profit (loss)9901€-147k€326k▲
Financial income75/76B€763k€743k▼
Recurring financial income75€763k€743k▼
Income from financial fixed assets750€749k€697k▼
Income from current assets751€6k€0▼
Other financial income752/9€8k€46k▲
Financial charges65/66B€116k€149k▲
Recurring financial charges65€116k€149k▲
Debt charges650€62k€41k▼
Other financial charges652/9€54k€107k▲
Profit (loss) for the period before taxes9903€500k€920k▲
Income taxes67/77€6k€2k▼
Taxes670/3€6k€2k▼
Profit (loss) for the period9904€494k€919k▲
Profit (loss) for the period to be appropriated9905€494k€919k▲
Appropriation of the result
Profit (loss) to be appropriated9906€494k€919k▲
Transfer from equity791/2€0-
From reserves792€0-
Transfer to equity691/2€494k€919k▲
To other reserves6921€494k€919k▲
Social balance
Average headcount (FTE)908718.015.6▼
The notes to these accounts (113 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-08
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor appointment · Permanent representative4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor appointment · Permanent representative4 facts ▸
- General meeting, 30/06/2026
- Auditor appointment, BDO Bedrijfsrevisoren BV (commissaris)
- Permanent representative, Evy Borry
- Power of attorney, VGD Accountants en Belastingconsulenten
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €919k ▲85.8%
Operating result €326k, net result €919k, both a record.
31-12
Financial
Equity above €2MEq €2.02M ▲83.8%
2 profitable years in a row build equity to €2.02M.
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 43 days late
2024
31-12
Financial
Back to profitnet €494k
Net result €494k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.10M ▲971%
Equity rises from €102k to €1.10M.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-576k ▼339%
Net result drops to €-576k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Back to profitnet €241k
Net result €241k after one loss-making year.
31-12
Financial
Equity above €500kEq €679k ▲55.1%
Equity rises from €438k to €679k.
20-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 81 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Equity above €500kEq €601k ▲44.3%
2 profitable years in a row build equity to €601k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Back to profitnet €148k
Net result €148k after one loss-making year.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
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.
Directors · office · real estate
Directors
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.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2005
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.
Spinnerijkaai(Kor) 438500 KortrijkGround area
9,215 m²
Building footprint
3,590 m²
Volume, LiDAR
49,165 m³
Parcel 34353B0083/00Y004, Flanders · tallest building 21.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
E&C
since 20052.146.493.501
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0083/00Y004 | Flanders | 9,215 m² | 1 · 3,590 m² | 21.6 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Statutory auditor
1 auditor| BDO Bedrijfsrevisoren bvCurrent Statutory auditor · represented by Evy Borry | 07-08-2026 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 354,060 EUR awarded · 82,203 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 339,024 EUR | 67,167 EUR |
| 2024 | 1 | 167 EUR | 167 EUR |
| 2023 | 2 | 3,301 EUR | 3,301 EUR |
| 2022 | 2 | 11,568 EUR | 11,568 EUR |
Schemes
Baekeland-mandaat
Werkbaarheidscheque (stopgezet)
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
8755006XZMNZXX7NZV63
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Of 2,715 companies in sector 73200 we hold annual accounts for 1,785. 881 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-04-2005
Fiscal year end31-12
Activities, NACEBEL
73200Market research and public opinion polling
74131
74909Other professional, scientific and technical activities
74999Other professional, scientific and technical activities
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
74142
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.