E2C
ActiveSummary
E2C has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.6m and a net result of -€133,990. Equity remains stable across the filed financial years (±0% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€133,990
2024 · €10,655
Working capital
-€78,603
2024 · €8,536
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €133,092 in 2025 against €14,126 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.1m
2025
Net result-€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.8m
2025
Equity€9.6m
2025
Debt€0.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.08m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.01m--€0.01m▼ 8.3%€0.001m€0.007m▲ 11×-€0.06m€0.03m-€0.01m-€0.1m▼ 842%
Net result-€0.06m--€0.01m▲ 82.2%€345€0.001m▲ 270%€1.5m▲ 1,137×€0.03m▼ 98.0%€0.01m▼ 62.4%-€0.1m
Equity€9.8m-€9.8m▼ 0.1%€8.3m▼ 15.4%€8.3m=€9.7m▲ 17.6%€9.7m▲ 0.3%€9.8m▲ 0.1%€9.6m▼ 1.4%
Total assets€12.0m-€10.6m▼ 11.8%€10.6m▲ 0.1%€10.5m▼ 0.6%€10.4m▼ 0.6%€10.5m▲ 0.3%€9.9m▼ 5.7%€9.8m▼ 1.4%
Debt€2.2m-€0.8m▼ 63.5%€2.3m▲ 186%€2.2m▼ 2.9%€0.7m▼ 67.4%€0.7m▲ 0.6%€0.1m▼ 81.8%€0.1m=
Working capital-€0.3m--€0.2m▲ 15.3%-€1.7m▼ 611%-€1.6m▲ 3.3%-€0.1m▲ 92.4%-€0.05m▲ 60.6%€0.009m-€0.08m
Why a figure moved sharply
- 2023 Net result -98% on 2022. The accounts now follow the micro format, last year the full format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.8m
Fixed assets
€9.7m ▼ 0.5%
Current assets
€55,346 ▼ 61.2%
Equity and liabilities €9.8m
Equity
€9.6m ▼ 1.4%
Debt
€133,948 =
Debt's share of the balance-sheet total stays at 1.4%.
Key figures and ratios
EBITDA
-€86,242▼
2024 · €32,725
Cash flow
-€87,139▼
2024 · €57,506
Current ratio
0.41▼
2024 · 1.06
Debt to equity
0.01▲
2024 · 0.01
ROE
-1.4%▼
2024 · 0.1%
ROA
-1.4%▼
2024 · 0.1%
Interest coverage
-106.36▼
2024 · 31.57
Debt ≤ 1 year
€133,948=
2024 · €133,950
Income taxes
€86▼
2024 · €233
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €0.002m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.04m | €0.05m | ▲ 17.3% |
| Non-recurring operating charges66A | - | - | - | - | €0.001m | €0 | - | - | - |
| Gross operating margin9900 | €0.05m | €0.05m | €0.06m | €0.07m | €0.007m | €0.08m | €0.07m | -€0.04m | - |
| Operating profit (loss)9901 | -€0.01m | -€0.01m | €0.001m | €0.007m | -€0.06m | €0.03m | -€0.01m | -€0.1m | ▼ 842% |
| Financial income75/76B | - | - | - | €0.005m | €1.5m | €0.004m | €0.03m | €0 | ▼ 100% |
| Recurring financial income75 | €0.01m | €0.005m | €0.004m | €0.005m | €1.5m | €0.004m | €0.03m | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.01m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 21.8% |
| Recurring financial charges65 | €0.04m | -€0.02m | €0.006m | €0.01m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 21.8% |
| Profit (loss) for the period before taxes9903 | -€0.06m | -€0.01m | -€0.001m | €0.001m | €1.5m | €0.03m | €0.01m | -€0.1m | - |
| Income taxes67/77 | €0.002m | €118 | -€0.001m | €195 | €231 | €194 | €233 | €86 | ▼ 62.9% |
| Profit (loss) for the period9904 | -€0.06m | -€0.01m | €345 | €0.001m | €1.5m | €0.03m | €0.01m | -€0.1m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.06m | -€0.01m | €345 | €0.001m | €1.5m | €0.03m | €0.01m | -€0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12.0m | €10.6m | €10.6m | €10.5m | €10.4m | €10.5m | €9.9m | €9.8m | ▼ 1.4% |
| Fixed assets21/28 | €10.0m | €10.0m | €9.9m | €9.9m | €9.8m | €9.8m | €9.7m | €9.7m | ▼ 0.5% |
| Tangible fixed assets22/27 | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 6.9% |
| Land and buildings22 | - | - | - | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 6.9% |
| Furniture and vehicles24 | - | - | - | €0.007m | €0 | - | - | - | - |
| Financial fixed assets28 | €9.1m | €9.1m | €9.1m | €9.1m | €9.1m | €9.1m | €9.1m | €9.1m | = |
| Current assets29/58 | €1.9m | €0.6m | €0.6m | €0.6m | €0.6m | €0.7m | €0.1m | €0.06m | ▼ 61.2% |
| Amounts receivable within one year40/41 | €1.4m | €0.005m | €0.04m | €0.08m | €0.05m | €0.05m | €0.1m | €0.004m | ▼ 96.1% |
| Trade receivables40 | - | - | - | €0.08m | €0.04m | €0.05m | €0.06m | €0.004m | ▼ 93.2% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.01m | €0 | €0.04m | €0 | ▼ 100% |
| Current investments50/53 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0 | - | - |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.04m | €0.05m | ▲ 28.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12.0m | €10.6m | €10.6m | €10.5m | €10.4m | €10.5m | €9.9m | €9.8m | ▼ 1.4% |
| Equity10/15 | €9.8m | €9.8m | €8.3m | €8.3m | €9.7m | €9.7m | €9.8m | €9.6m | ▼ 1.4% |
| Contributions10/11 | €4.1m | €4.1m | - | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Reserves13 | €5.7m | €5.7m | €5.7m | €5.7m | €7.1m | €7.2m | €7.2m | €7.0m | ▼ 1.9% |
| Non-distributable reserves130/1 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves not available under the articles1311 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Distributable reserves133 | - | - | - | €5.1m | €6.5m | €6.5m | €6.6m | €6.4m | ▼ 2.0% |
| Amounts payable17/49 | €2.2m | €0.8m | €2.3m | €2.2m | €0.7m | €0.7m | €0.1m | €0.1m | = |
| Amounts payable within one year42/48 | €2.2m | €0.8m | €2.3m | €2.2m | €0.7m | €0.7m | €0.1m | €0.1m | = |
| Trade debts44 | - | €0.001m | €0.003m | €0.005m | €0 | - | €0.003m | €0.004m | ▲ 10.7% |
| Suppliers440/4 | - | - | - | €0.005m | €0 | - | €0.003m | €0.004m | ▲ 10.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0 | €0.006m | €233 | €86 | ▼ 62.9% |
| Taxes450/3 | - | - | - | €0.006m | €0 | €0.006m | €233 | €86 | ▼ 62.9% |
| Other amounts payable47/48 | - | - | - | €2.2m | €0.7m | €0.7m | €0.1m | €0.1m | ▼ 0.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.06m | -€0.01m | €345 | €0.001m | €1.5m | €0.03m | €0.01m | -€0.1m | - |
| + Depreciation and write-downs630 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Operating cash flow (approximation) | -€0.006m | €0.04m | €0.05m | €0.05m | €1.5m | €0.08m | €0.06m | -€0.09m | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €0.008m | €0.03m | -€0.06m | €0.02m | €0.08m | -€0.3m | €0.01m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00359104 |
| 31-12-2024 | micro format | 13-08-2025 | 2025-00373953 |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00242214 |
| 31-12-2022 | full format | 13-07-2023 | 2023-00253648 |
| 31-12-2021 | full format | 13-06-2022 | 2022-20063256 |
| 31-12-2020 | full format | 15-07-2021 | 2021-36200284 |
| 31-12-2019 | full format | 27-08-2020 | 2020-50100336 |
| 31-12-2018 | full format | 08-07-2019 | 2019-31100565 |
| 31-12-2017 | full format | 23-07-2018 | 2018-37100014 |
| 31-12-2016 | full format | 14-07-2017 | 2017-32600107 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.