E.E.N.A.
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 15 filings
Turnover
€1.0m
EBIT margin
9.4%
Net result
€356,090
2024 · -€44,314
Working capital
€940,978▲ 71.2%
2024 · €549,793
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€361,708
2025
20182025
Net result
€356,090
2025
highest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€520,500
▲ 217%
2025
middle half of the sector
20182025
Total assets
€1.4m
▲ 112%
2025
middle half of the sector
20182025
Debt
€867,000
▲ 76.4%
2025
20182025
Working capital
€940,978
▲ 71.2%
2025
middle half of the sector
20182025
Solvency
37.5%
▲ 12.4pp
2025
middle half of the sector
20182025
Current ratio
3.16
▼ 3.31
2025
middle half of the sector
20182025
Return on assets (ROA)
25.7%
▲ 32.4pp
2025
highest quarter of the sector
20182025
Staff (FTE)
6.4
▼ 9.9%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.0m-
Operating result€0.1m--€0.02m-€0.003m▲ 79.3%€0.003m-€0.03m-€0.3m▼ 875%-€0.04m▲ 88.6%€0.4m
Net result€0.04m--€0.001m-€0.009mbelow the sector's middle half▼ 879%-€0.001mwithin the sector's middle half▲ 93.2%-€0.04mbelow the sector's middle half▼ 6,860%-€0.4mbelow the sector's middle half▼ 753%-€0.04mbelow the sector's middle half▲ 87.4%€0.4mabove the sector's middle half
EBIT margin9.4%-
Equity€0.6m-€0.6m▼ 0.1%€0.6mwithin the sector's middle half▼ 1.4%€0.6mwithin the sector's middle half▼ 0.1%€0.6mwithin the sector's middle half▼ 6.8%€0.2mwithin the sector's middle half▼ 62.7%€0.2mbelow the sector's middle half▼ 21.2%€0.5mwithin the sector's middle half▲ 217%
Total assets€1.3m-€1.3m▲ 2.1%€1.4mwithin the sector's middle half▲ 5.2%€1.2mwithin the sector's middle half▼ 18.2%€1.0mwithin the sector's middle half▼ 8.8%€0.8mwithin the sector's middle half▼ 23.5%€0.7mwithin the sector's middle half▼ 18.3%€1.4mwithin the sector's middle half▲ 112%
Debt€0.7m-€0.7m▲ 4.0%€0.8m▲ 10.8%€0.6m▼ 31.7%€0.5m▼ 10.9%€0.6m▲ 21.1%€0.5m▼ 17.3%€0.9m▲ 76.4%
Working capital€1.1m-€1.2m▲ 4.7%€1.3mwithin the sector's middle half▲ 9.0%€0.9mwithin the sector's middle half▼ 27.3%€0.9mwithin the sector's middle half▼ 2.3%€0.6mwithin the sector's middle half▼ 29.8%€0.5mwithin the sector's middle half▼ 14.9%€0.9mwithin the sector's middle half▲ 71.2%
Solvency46.6%-45.6%▼ 1.0pp42.7%within the sector's middle half▼ 2.9pp52.1%within the sector's middle half▲ 9.5pp53.3%within the sector's middle half▲ 1.1pp26.0%below the sector's middle half▼ 27.3pp25.1%below the sector's middle half▼ 0.9pp37.5%within the sector's middle half▲ 12.4pp
Current ratio8.63-10.08▲ 1.4513.48above the sector's middle half▲ 3.415.68within the sector's middle half▼ 7.808.64within the sector's middle half▲ 2.965.32within the sector's middle half▼ 3.326.47within the sector's middle half▲ 1.153.16within the sector's middle half▼ 3.31
Return on assets (ROA)3.0%--0.1%▼ 3.0pp-0.6%below the sector's middle half▼ 0.6pp-0.1%within the sector's middle half▲ 0.6pp-3.9%below the sector's middle half▼ 3.9pp-43.6%below the sector's middle half▼ 39.7pp-6.8%below the sector's middle half▲ 36.9pp25.7%above the sector's middle half▲ 32.4pp
Staff (FTE)7-8.2▲ 17.1%7.7within the sector's middle half▼ 6.1%7.5within the sector's middle half▼ 2.6%8.4within the sector's middle half▲ 12.0%8.1within the sector's middle half▼ 3.6%7.1within the sector's middle half▼ 12.3%6.4within the sector's middle half▼ 9.9%
above
within
below
The sector band is the middle half of the companies in Activities of membership organisations (NACE 94). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €361,708, after a loss of €38,647 in 2024. It is the highest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€10,409 ▲ 87.4%
Current assets
€1.4m ▲ 112%
Equity and liabilities €1.4m
Equity
€520,500 ▲ 217%
Debt
€867,000 ▲ 76.4%
Debt's share of the balance-sheet total falls from 74.9% to 62.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€362,874▲
2024 · -€36,965
Cash flow
€357,256▲
2024 · -€42,633
Debt to equity
1.67▼
2024 · 2.99
ROE
68.4%▲
2024 · -27.0%
Interest coverage
71.00▲
2024 · -4.80
Debt ≤ 1 year
€436,114▲
2024 · €100,481
Income taxes
€2,618▲
2024 · €232
Staff costs
€675,199▼
2024 · €890,586
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 9 | 9 | 7 | 7 |
| full-time | 5 | 6 | 6 | 4 | 4 |
| part-time | 3 | 3 | 3 | 3 | 3 |
| in full-time equivalents | 7.5 | 8.4 | 8.4 | 6.4 | 6.4 |
| Average over the year, in full-time equivalents | 7.1 | 7.1 | 8.1 | 7.1 | 6.4 |
| On a permanent contract | 7 | 9 | 9 | 7 | 7 |
| Joined | 1 | 5 | 1 | 4 | - |
| Left | 1 | 4 | 1 | 6 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,886 | €787 | €1,000 | - | - |
| Intangible fixed assets | - | €2,400 | - | - | €5,000 |
| Financial fixed assets | - | - | - | - | €1,020 |
| Depreciation and write-downs of the year | €3,465 | €1,721 | €1,886 | €1,682 | €1,166 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
European Union, budget
2021 to 2025 · 11 entries · €684,001 in total| Year | Entries | Awarded |
|---|---|---|
| 2025 | 6 | €607,500 |
| 2024 | 3 | €76,502 |
| 2022 | 1 | €0 |
| 2021 | 1 | €0 |
Projects
HARMONY: HARMONISED PROTOCOLS FOR TRANSNATIONAL ENVIRONMENTAL IMPACT ASSESSMENT & EMERGENCY MANAGEMENT
ALERT AND IMPACT-FORECAST STANDARDS FOR EMERGENCY MANAGEMENT
TOWARDS ENHANCED COORDINATION OF DISASTER RISK MANAGEMENT AND GOVERNANCE THROUGH A HOLISTIC FRAMEWORK FOR MULTI-LEVEL INTERACTION AND COMMUNICATION
23-EU-TG-ECALL NG - X_HEERO ECALL NEXT GENERATION
EU SPACE DATA AND SERVICES IN SUPPORT OF THE EU DISASTER RESILIENCE
GOALS - EC-DEFIS/2024/OP/0010-PP
Show 2 more projects
EMERGENCY WARNING SERVICE DEMONSTRATOR
STUDY ON TECHNICAL SOLUTIONS TO ENSURE COMPATIBILITY, INTEROPERABILITY, QUALITY, RELIABILITY AND CONTINUITY OF EMERGENCY COMMUNICATIONS IN THE UNION
European research
10 projects · €2.2m EU contributionProjects
Engage Society for Risk Awareness and Resilience
Emergency Services Europe Network
enAbling EWS/GAlileo maRket uptake in widEspread PWS solutions
Emergency Management in Social Media Generation
HARMONY: Harmonised Protocols for Transnational Environmental Impact Assessment & Emergency Management
Show 5 more projects
AleRT and impact-forecast standards for Emergency Management
Towards enhanced coordination of disaster risk management and governance through a holistic framework for multi-level interaction and communication
Smart Working environments for all Ages
Law Enforcement agencies human factor methods and Toolkit for the Security and protection of CROWDs in mass gatherings
Cross-regional action for enhanced impact forecasting, early warning, and resilient governance
Public contracts
3 awards · 2018 to 2024
Pilot project EU space data and services in support of the EU disaster resilience goals
Study on Technical Solutions to Ensure Compatibility, Interoperability, Quality, Reliability and Continuity of Emergency Communications in the Union – CNECT/2020/OP/0079: Study on Technical Solutions to Ensure Compatibility, Interoperability, Quality, Reliability and Continuity of Emergency Communications in the Union
Deployment of Advanced Caller Location Solutions using GNSS in an E112 call to the Public Safety Answering Point
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.0m | - | - | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.8m | €0.9m | €0.9m | €0.7m | ▼ 24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.01m | €0.01m | €0.003m | €0.002m | €0.002m | €0.002m | €0.001m | ▼ 30.6% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.007m | €163 | €0.001m | ▲ 648% |
| Gross operating margin9900 | €0.6m | €0.7m | €0.7m | €0.8m | €0.8m | €0.6m | €0.9m | €1.0m | ▲ 21.7% |
| Operating profit (loss)9901 | €0.1m | -€0.02m | -€0.003m | €0.003m | -€0.03m | -€0.3m | -€0.04m | €0.4m | - |
| Financial income75/76B | - | - | - | €0.001m | €162 | €0.001m | €0.002m | €0.002m | ▼ 6.7% |
| Recurring financial income75 | €0.002m | €151 | €131 | €0.001m | €162 | €0.001m | €0.002m | €0.002m | ▼ 6.7% |
| Financial charges65/66B | - | - | - | €0.003m | €0.006m | €0.01m | €0.008m | €0.005m | ▼ 33.6% |
| Recurring financial charges65 | €0.003m | €0.003m | €0.005m | €0.003m | €0.006m | €0.01m | €0.008m | €0.005m | ▼ 33.6% |
| Profit (loss) for the period before taxes9903 | €0.09m | -€0.02m | -€0.009m | -€215 | -€0.04m | -€0.4m | -€0.04m | €0.4m | - |
| Income taxes67/77 | - | - | €19 | €375 | - | - | €232 | €0.003m | ▲ 11× |
| Profit (loss) for the period9904 | €0.04m | -€0.001m | -€0.009m | -€0.001m | -€0.04m | -€0.4m | -€0.04m | €0.4m | - |
| Profit (loss) for the period to be appropriated9905 | €0.04m | -€0.001m | -€0.009m | -€0.001m | -€0.04m | -€0.4m | -€0.04m | €0.4m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.3m | €1.3m | €1.4m | €1.2m | €1.0m | €0.8m | €0.7m | €1.4m | ▲ 112% |
| Fixed assets21/28 | €0.02m | €0.02m | €0.006m | €0.007m | €0.008m | €0.007m | €0.006m | €0.01m | ▲ 87.4% |
| Intangible fixed assets21 | €0.02m | €0.01m | €0.002m | - | €0.002m | €0.001m | €0.001m | €0.005m | ▲ 446% |
| Tangible fixed assets22/27 | €0.003m | €0.001m | - | €0.003m | €0.002m | €0.002m | €0.001m | €335 | ▼ 57.1% |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.002m | €0.002m | €0.001m | €335 | ▼ 57.1% |
| Financial fixed assets28 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.005m | ▲ 26.7% |
| Current assets29/58 | €1.3m | €1.3m | €1.4m | €1.1m | €1.0m | €0.8m | €0.7m | €1.4m | ▲ 112% |
| Amounts receivable within one year40/41 | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.4m | ▲ 77.1% |
| Trade receivables40 | - | - | - | €0.2m | €0.3m | €0.1m | €0.2m | €0.2m | ▲ 41.3% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.02m | €0.2m | €0.06m | €0.2m | ▲ 177% |
| Cash at bank and in hand54/58 | €0.8m | €0.9m | €1.0m | €0.7m | €0.5m | €0.5m | €0.4m | €0.8m | ▲ 104% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.2m | €0.02m | €0.01m | €0.1m | ▲ 12× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.4m | €1.2m | €1.0m | €0.8m | €0.7m | €1.4m | ▲ 112% |
| Equity10/15 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.2m | €0.2m | €0.5m | ▲ 217% |
| Profit (loss) carried forward14 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.2m | €0.2m | €0.5m | ▲ 217% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.8m | €0.6m | €0.5m | €0.6m | €0.5m | €0.9m | ▲ 76.4% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | €0.4m | ▲ 334% |
| Trade debts44 | €0.08m | €0.03m | €0.02m | €0.04m | €0.06m | €0.06m | €0.05m | €0.1m | ▲ 104% |
| Suppliers440/4 | - | - | - | €0.04m | €0.06m | €0.06m | €0.05m | €0.1m | ▲ 104% |
| Advances received on contracts in progress46 | - | - | - | €0.07m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.06m | €0.09m | €0.05m | €0.1m | ▲ 97.0% |
| Taxes450/3 | - | - | - | €0.003m | - | €0.01m | - | €0.02m | - |
| Remuneration and social security454/9 | - | - | - | €0.09m | €0.06m | €0.08m | €0.05m | €0.08m | ▲ 52.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 10.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,843 | -€888 | -€8,699 | -€590 | -€41,063 | -€350,406 | -€44,314 | €356,090 | - |
| + Depreciation and write-downs630 | €17,344 | €14,082 | €9,798 | €3,465 | €1,721 | €1,886 | €1,682 | €1,166 | ▼ 30.6% |
| Operating cash flow (approximation) | €56,187 | €13,193 | €1,099 | €2,875 | -€39,343 | -€348,520 | -€42,633 | €357,256 | - |
| Investment in fixed assets (approximation) | - | -€5,590 | €0 | -€3,886 | -€3,187 | -€1,000 | €0 | -€6,020 | - |
| Change in cash | - | €125,052 | €66,633 | -€326,158 | -€142,226 | -€70,693 | -€56,032 | €416,579 | - |
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, 31,368 companies had the same profile as E.E.N.A. has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of E.E.N.A. itself: < 0.1% 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 31,368 companies, not a prediction for E.E.N.A.. 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.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 01-07-2026 | 2026-00233552 | |
| 31-12-2024 | full format | 01-07-2025 | 2025-00217641 | |
| 31-12-2023 | full format | 14-08-2024 | 2024-00346478 | |
| 31-12-2022 | full format | 31-08-2023 | 2023-00428890 | |
| 31-12-2021 | full format | 26-07-2022 | 2022-20221213 | |
| 31-12-2020 | full format | 13-07-2021 | 2021-35100084 | |
| 31-12-2019 | full format | 03-07-2020 | 2020-26200368 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-57400261 | |
| 31-12-2017 | full format | 19-06-2018 | 2018-21700102 | |
| 31-12-2016 | full format | 30-08-2017 | 2017-52000342 |