E.G. Maintenance
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-01-2026 PDF all 11 filings
Turnover
≈ €1.6m
Estimated: probably between €1.4m and €2.0m
EBIT margin
Not included in this filing
Net result
€52,852
2024 · -€3,016
Working capital
€204,743▲ 20.2%
2024 · €170,382
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€89,450
▲ 884%
2025
20192025
Net result
€52,852
2025
middle half of the sector
20192025
Equity
€432,376
▲ 13.9%
2025
middle half of the sector
20192025
Total assets
€676,066
▲ 16.3%
2025
middle half of the sector
20192025
Debt
€243,690
▲ 20.8%
2025
20192025
Working capital
€204,743
▲ 20.2%
2025
middle half of the sector
20192025
Solvency
64.0%
▼ 1.3pp
2025
highest quarter of the sector
20192025
Current ratio
2.13
▼ 0.20
2025
middle half of the sector
20192025
Return on assets (ROA)
7.8%
▲ 8.3pp
2025
middle half of the sector
20192025
Staff (FTE)
8.7
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€174,084-€76,699▼ 55.9%€147,054▲ 91.7%€179,189▲ 21.9%€170,112▼ 5.1%€9,095▼ 94.7%€89,450▲ 884%
Net result€125,382-€50,487within the sector's middle half▼ 59.7%€95,287above the sector's middle half▲ 88.7%€134,070above the sector's middle half▲ 40.7%€121,850above the sector's middle half▼ 9.1%-€3,016below the sector's middle half€52,852within the sector's middle half
Equity€250,846-€256,333within the sector's middle half▲ 2.2%€351,620within the sector's middle half▲ 37.2%€485,690within the sector's middle half▲ 38.1%€532,540above the sector's middle half▲ 9.6%€379,523above the sector's middle half▼ 28.7%€432,376within the sector's middle half▲ 13.9%
Total assets€334,630-€316,014within the sector's middle half▼ 5.6%€449,055within the sector's middle half▲ 42.1%€702,695within the sector's middle half▲ 56.5%€812,913above the sector's middle half▲ 15.7%€581,258above the sector's middle half▼ 28.5%€676,066within the sector's middle half▲ 16.3%
Debt€83,785-€59,681▼ 28.8%€97,435▲ 63.3%€217,006▲ 123%€280,373▲ 29.2%€201,734▼ 28.0%€243,690▲ 20.8%
Working capital€206,319-€196,034within the sector's middle half▼ 5.0%€258,754within the sector's middle half▲ 32.0%€367,105within the sector's middle half▲ 41.9%€332,578above the sector's middle half▼ 9.4%€170,382above the sector's middle half▼ 48.8%€204,743within the sector's middle half▲ 20.2%
Solvency75.0%-81.1%above the sector's middle half▲ 6.2pp78.3%above the sector's middle half▼ 2.8pp69.1%above the sector's middle half▼ 9.2pp65.5%within the sector's middle half▼ 3.6pp65.3%within the sector's middle half▼ 0.2pp64.0%above the sector's middle half▼ 1.3pp
Current ratio3.46-4.28above the sector's middle half▲ 0.823.88above the sector's middle half▼ 0.414.05above the sector's middle half▲ 0.172.71within the sector's middle half▼ 1.342.32within the sector's middle half▼ 0.392.13within the sector's middle half▼ 0.20
Return on assets (ROA)37.5%-16.0%above the sector's middle half▼ 21.5pp21.2%above the sector's middle half▲ 5.2pp19.1%above the sector's middle half▼ 2.1pp15.0%within the sector's middle half▼ 4.1pp-0.5%below the sector's middle half▼ 15.5pp7.8%within the sector's middle half▲ 8.3pp
Staff (FTE)2.8-4within the sector's middle half▲ 42.9%3.9within the sector's middle half5.1▲ 30.8%8.7within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 9.8 times that of 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Staff figure correction
- 2025 The accounts state 553,223.3 FTE. That amounts to under EUR 100 of staff costs per FTE. The figure shown is 8.7 FTE (source: social balance report).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €676,066
Fixed assets
€289,880 ▲ 2.7%
Current assets
€386,185 ▲ 29.2%
Equity and liabilities €676,066
Equity
€432,376 ▲ 13.9%
Debt
€243,690 ▲ 20.8%
Debt's share of the balance-sheet total rises from 34.7% to 36.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€157,525▲
2024 · €72,422
Cash flow
€120,927▲
2024 · €60,311
Debt to equity
0.56▲
2024 · 0.53
ROE
12.2%▲
2024 · -0.8%
Interest coverage
46.31▲
2024 · 41.46
Debt ≤ 1 year
€181,443▲
2024 · €128,635
Debt > 1 year
€62,247▼
2024 · €73,100
Income taxes
€33,273▲
2024 · €11,709
Staff costs
€553,223▲
2024 · €429,107
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 4 | 7 | - |
| full-time | 3 | 5 | - |
| part-time | 1 | 2 | - |
| in full-time equivalents | 3.3 | 6.1 | - |
| Average over the year, in full-time equivalents | 3.9 | 4.6 | 8.7 |
| On a permanent contract | 4 | - | - |
| Joined | 1 | - | - |
| Left | 2 | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2021 | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €57,421 | €146,163 | €103,541 | €61,158 | €75,713 |
| Intangible fixed assets | - | - | - | €8,420 | - |
| Depreciation and write-downs of the year | €18,350 | €27,476 | €32,737 | €63,327 | €68,075 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €533,327 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €219,452 | €212,018 | €313,783 | €429,107 | €553,223 | ▲ 28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,976 | €15,034 | €18,350 | €27,476 | €32,737 | €63,327 | €68,075 | ▲ 7.5% |
| Other operating charges640/8 | - | - | €8,577 | €7,322 | €11,017 | €7,292 | €17,594 | ▲ 141% |
| Non-recurring operating charges66A | - | - | €385 | - | - | - | - | - |
| Gross operating margin9900 | €302,016 | €205,155 | €393,819 | €426,005 | €527,649 | €508,820 | €728,342 | ▲ 43.1% |
| Operating profit (loss)9901 | €174,084 | €76,699 | €147,054 | €179,189 | €170,112 | €9,095 | €89,450 | ▲ 884% |
| Financial income75/76B | - | - | €0 | €5 | €0 | €1,345 | €76 | ▼ 94.3% |
| Recurring financial income75 | €15 | €3 | €0 | €5 | €0 | €1,345 | €76 | ▼ 94.3% |
| Financial charges65/66B | - | - | €1,311 | €3,123 | €2,914 | €1,747 | €3,401 | ▲ 94.7% |
| Recurring financial charges65 | €2,610 | €2,349 | €1,311 | €3,123 | €2,914 | €1,747 | €3,401 | ▲ 94.7% |
| Profit (loss) for the period before taxes9903 | €171,488 | €74,352 | €145,744 | €176,072 | €167,197 | €8,693 | €86,125 | ▲ 891% |
| Income taxes67/77 | €46,106 | €23,866 | €50,456 | €42,002 | €45,347 | €11,709 | €33,273 | ▲ 184% |
| Profit (loss) for the period9904 | €125,382 | €50,487 | €95,287 | €134,070 | €121,850 | -€3,016 | €52,852 | - |
| Profit (loss) for the period to be appropriated9905 | €125,382 | €50,487 | €95,287 | €134,070 | €121,850 | -€3,016 | €52,852 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €334,630 | €316,014 | €449,055 | €702,695 | €812,913 | €581,258 | €676,066 | ▲ 16.3% |
| Fixed assets21/28 | €44,573 | €60,299 | €100,399 | €215,187 | €285,990 | €282,241 | €289,880 | ▲ 2.7% |
| Intangible fixed assets21 | - | - | - | - | - | €7,367 | €5,262 | ▼ 28.6% |
| Tangible fixed assets22/27 | €42,846 | €58,571 | €98,671 | €213,584 | €284,388 | €273,272 | €283,016 | ▲ 3.6% |
| Plant, machinery and equipment23 | - | - | - | - | €7,788 | €10,914 | €8,269 | ▼ 24.2% |
| Furniture and vehicles24 | - | - | €64,646 | €82,527 | €94,558 | €109,999 | €139,918 | ▲ 27.2% |
| Other tangible fixed assets26 | - | - | €14,025 | €10,790 | €17,555 | €152,358 | €134,830 | ▼ 11.5% |
| Assets under construction and advance payments27 | - | - | €20,000 | €120,267 | €164,487 | €0 | - | - |
| Financial fixed assets28 | €1,727 | €1,727 | €1,727 | €1,602 | €1,602 | €1,602 | €1,602 | = |
| Current assets29/58 | €290,057 | €255,715 | €348,656 | €487,508 | €526,922 | €299,016 | €386,185 | ▲ 29.2% |
| Amounts receivable within one year40/41 | €232,441 | €132,574 | €280,625 | €259,106 | €158,278 | €287,344 | €231,732 | ▼ 19.4% |
| Trade receivables40 | - | - | €240,572 | €208,507 | €144,829 | €207,459 | €133,013 | ▼ 35.9% |
| Other amounts receivable41 | - | - | €40,053 | €50,600 | €13,449 | €79,885 | €98,719 | ▲ 23.6% |
| Current investments50/53 | - | - | €68,032 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €57,616 | €123,141 | - | €228,402 | €368,645 | €11,672 | €154,453 | ▲ 13× |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €334,630 | €316,014 | €449,055 | €702,695 | €812,913 | €581,258 | €676,066 | ▲ 16.3% |
| Equity10/15 | €250,846 | €256,333 | €351,620 | €485,690 | €532,540 | €379,523 | €432,376 | ▲ 13.9% |
| Contributions10/11 | €18,000 | €18,000 | €18,000 | €18,000 | €18,000 | €20,400 | €20,400 | = |
| Capital10 | - | - | €18,000 | €18,000 | €18,000 | - | - | - |
| Issued capital100 | - | - | €18,000 | €18,000 | €18,000 | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €20,400 | - | - |
| Other1109/19 | - | - | - | - | - | €20,400 | - | - |
| Reserves13 | €2,400 | €2,400 | €2,400 | €2,400 | €2,400 | - | €50,000 | - |
| Non-distributable reserves130/1 | - | - | €2,400 | €2,400 | €2,400 | - | - | - |
| Legal reserve130 | - | - | €1,800 | €1,800 | €1,800 | - | - | - |
| Reserves not available under the articles1311 | - | - | €600 | €600 | €600 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €50,000 | - |
| Profit (loss) carried forward14 | €230,446 | €235,933 | €331,220 | €465,290 | €512,140 | €359,123 | €361,976 | ▲ 0.8% |
| Amounts payable17/49 | €83,785 | €59,681 | €97,435 | €217,006 | €280,373 | €201,734 | €243,690 | ▲ 20.8% |
| Amounts payable after more than one year17 | - | - | €7,533 | €96,602 | €86,028 | €73,100 | €62,247 | ▼ 14.8% |
| Financial debts170/4 | - | - | €7,533 | €96,602 | €86,028 | €73,100 | €62,247 | ▼ 14.8% |
| Amounts payable within one year42/48 | €83,738 | €59,681 | €89,902 | €120,404 | €194,345 | €128,635 | €181,443 | ▲ 41.1% |
| Current portion of amounts payable after more than one year42 | - | - | €5,317 | €15,759 | €11,677 | €10,713 | €10,142 | ▼ 5.3% |
| Trade debts44 | €33,278 | €7,975 | €19,500 | €19,608 | €7,274 | €21,117 | - | - |
| Suppliers440/4 | - | - | €19,500 | €19,608 | €7,274 | €21,117 | - | - |
| Taxes, remuneration and social security45 | - | - | €64,977 | €85,037 | €100,394 | €95,007 | €101,301 | ▲ 6.6% |
| Taxes450/3 | - | - | €49,482 | €72,456 | €56,088 | €52,602 | €45,802 | ▼ 12.9% |
| Remuneration and social security454/9 | - | - | €15,495 | €12,581 | €44,306 | €42,405 | €55,498 | ▲ 30.9% |
| Other amounts payable47/48 | - | - | €107 | - | €75,000 | €1,797 | €70,000 | ▲ 39× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,382 | €50,487 | €95,287 | €134,070 | €121,850 | -€3,016 | €52,852 | - |
| + Depreciation and write-downs630 | €10,976 | €15,034 | €18,350 | €27,476 | €32,737 | €63,327 | €68,075 | ▲ 7.5% |
| Operating cash flow (approximation) | €136,358 | €65,520 | €113,638 | €161,545 | €154,587 | €60,311 | €120,927 | ▲ 101% |
| Investment in fixed assets (approximation) | - | -€30,759 | -€58,450 | -€142,264 | -€103,541 | -€59,578 | -€75,713 | ▼ 27.1% |
| Change in cash | - | €65,525 | - | - | €140,243 | -€356,973 | €142,781 | - |
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, 34,693 companies had the same profile as E.G. Maintenance has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of E.G. Maintenance itself: 0.2% 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 34,693 companies, not a prediction for E.G. Maintenance. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 30-01-2026 | 2026-00020620 | |
| 30-06-2024 | micro format | 04-02-2025 | 2025-00026534 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00015411 | |
| 30-06-2022 | full format | 22-12-2022 | 2022-20544207 | |
| 30-06-2021 | full format | 09-10-2023 | 2023-00477541 | |
| 30-06-2020 | full format | 01-02-2021 | 2021-03800330 | |
| 30-06-2019 | full format | 29-01-2020 | 2020-02700103 | |
| 30-06-2018 | full format | 26-01-2019 | 2019-02800157 | |
| 30-06-2017 | full format | 27-02-2018 | 2018-06000521 | |
| 30-06-2016 | full format | 24-01-2017 | 2017-02100411 |