E40
ActiveSummary
The computed 12-month bankruptcy probability of E40 is 2.0% (moderate). The 2025 annual accounts show negative equity (-€139,683) and a net result of -€2,066. Equity remains stable across the filed financial years (±1.4% per year). Its solvency ranks better than 5% of 49 sector peers (NACE 39, financial year 2025). The company has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Source amounts without an identifiable currency are assumed to be EUR.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €1,893 in 2025 against €1,887 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.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 39, Remediation activities and other waste management service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital.
Peer companies
Historical observationOf the 6,619 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84.5% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,619 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | €0 | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €484 | €507 | €627 | €711 | ▲ 13.3% |
| Gross operating margin9900 | -€775 | -€2,930 | €2,208 | -€1,402 | -€1,144 | -€1,260 | -€1,182 | ▲ 6.1% |
| Operating profit (loss)9901 | -€1,222 | -€3,488 | €1,724 | -€1,886 | -€1,651 | -€1,887 | -€1,893 | ▼ 0.3% |
| Financial income75/76B | - | - | - | €0 | - | - | - | - |
| Recurring financial income75 | €0 | €881 | €209 | €0 | - | - | - | - |
| Financial charges65/66B | - | - | - | €270 | €248 | €184 | €172 | ▼ 6.4% |
| Recurring financial charges65 | €194 | €206 | €64 | €270 | €248 | €184 | €172 | ▼ 6.4% |
| Profit (loss) for the period before taxes9903 | -€1,416 | -€2,813 | €1,869 | -€2,156 | -€1,899 | -€2,071 | -€2,066 | ▲ 0.3% |
| Income taxes67/77 | €0 | €0 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€1,416 | -€2,813 | €1,869 | -€2,156 | -€1,899 | -€2,071 | -€2,066 | ▲ 0.3% |
| Profit (loss) for the period to be appropriated9905 | -€1,416 | -€2,813 | €1,869 | -€2,156 | -€1,899 | -€2,071 | -€2,066 | ▲ 0.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2,639 | €2,796 | €2,688 | €2,759 | €2,993 | €3,127 | €3,416 | ▲ 9.2% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €0 | €0 | €0 | - | - | - | - | - |
| Current assets29/58 | €2,639 | €2,796 | €2,688 | €2,759 | €2,993 | €3,127 | €3,416 | ▲ 9.2% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €2,057 | €2,303 | €2,459 | €2,691 | €2,912 | €3,040 | €3,334 | ▲ 9.7% |
| Trade receivables40 | - | - | - | - | - | €95 | - | - |
| Other amounts receivable41 | - | - | - | €2,691 | €2,912 | €2,946 | €3,334 | ▲ 13.2% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €11 | €277 | €10 | €5 | €13 | €87 | €8 | ▼ 90.6% |
| Deferred charges and accrued income490/1 | - | - | - | €62 | €68 | - | €74 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2,639 | €2,796 | €2,688 | €2,759 | €2,993 | €3,127 | €3,416 | ▲ 9.2% |
| Equity10/15 | -€130,548 | -€133,361 | -€131,492 | -€133,648 | -€135,547 | -€137,618 | -€139,683 | ▼ 1.5% |
| Contributions10/11 | €62,000 | €62,000 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | - | - | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | - | - | €62,000 | €62,000 | = |
| Profit (loss) carried forward14 | -€192,548 | -€195,361 | -€193,492 | -€195,648 | -€197,547 | -€199,618 | -€201,683 | ▼ 1.0% |
| Amounts payable17/49 | €133,187 | €136,156 | €134,180 | €136,407 | €138,540 | €140,745 | €143,099 | ▲ 1.7% |
| Amounts payable within one year42/48 | €133,187 | €136,156 | €134,180 | €136,407 | €138,540 | €140,625 | €143,099 | ▲ 1.8% |
| Trade debts44 | €7,988 | - | €163 | €745 | €1,523 | €3,021 | €1,565 | ▼ 48.2% |
| Suppliers440/4 | - | - | - | €745 | €1,523 | €3,021 | €1,565 | ▼ 48.2% |
| Other amounts payable47/48 | - | - | - | €135,662 | €137,017 | €137,604 | €141,534 | ▲ 2.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €120 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,416 | -€2,813 | €1,869 | -€2,156 | -€1,899 | -€2,071 | -€2,066 | ▲ 0.3% |
| + Depreciation and write-downs630 | €0 | €0 | €0 | - | - | - | - | - |
| Operating cash flow (approximation) | -€1,416 | -€2,813 | €1,869 | -€2,156 | -€1,899 | -€2,071 | -€2,066 | ▲ 0.3% |
| Change in cash | - | €266 | -€267 | -€4 | €8 | €74 | -€79 | - |
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 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2025 | micro format | 25-09-2025 | 2025-00512460 |
| 31-03-2024 | micro format | 26-11-2024 | 2024-00608467 |
| 31-03-2023 | micro format | 11-11-2023 | 2023-00513427 |
| 31-03-2022 | micro format | 22-11-2022 | 2022-20523357 |
| 31-03-2021 | micro format | 29-10-2021 | 2021-75500191 |
| 31-03-2020 | micro format | 30-10-2020 | 2020-66600567 |
| 31-03-2019 | micro format | 24-10-2019 | 2019-71600589 |
| 31-03-2018 | micro format | 30-10-2018 | 2018-71000074 |
| 31-03-2017 | micro format | 26-09-2017 | 2017-63900077 |
| 31-03-2016 | abbreviated format | 22-12-2016 | 2016-71200479 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.