EC 2
ActiveFrom the official registers: KBO 14 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
EC 2 has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,738 and a net result of -€638. Equity has been shrinking by about 10% per year since 2018. Its solvency ranks better than 74% of 13,716 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 02-03-2012 Normal situation
- Registered office
- 24 active companies are registered at this address Source: KBO register, as of 1 November 2026.
- Activity
- Wholesale trade NACE 46322
- Establishment unit
- 2.208.439.382 7522 Tournai, since 02-03-2012
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- EUROPA CUISSON SADirector · since 22-06-2011
- Global Maté SADirector · since 24-06-2014
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- -€184
- ▼ 3.0%
- Loss
- €638
- ▼ 4.0%
- Equity
- €3,738
- ▼ 14.6%
- Total assets
- €5,316
- ▼ 10.7%
Score breakdownraises riskLoss of €638, the second in a row (financial year 2025)lowers riskSize: total assets €5,316Founded in 2012Figures for financial year 2025 (filed on 17-07-2026)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 75% of them on solvency, 38% on liquidity, 15% on profitability and 22% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 11 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 14 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €584, larger than the loss of €566 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 4,805 companies had the same profile as EC 2 has now. Two years later, 2.0% had gone bankrupt and 88.2% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of EC 2 itself is lower: 0.4% within 12 months. It rests on far more data about EC 2 than the profile alone.
Test of the method
The method was tested on the 497,445 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 4,805 companies, not a prediction for EC 2. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €251,238 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | - | -€1,763 | -€170 | -€153 | -€101 | -€112 | -€179 | -€184 | ▼ 3.0% |
| Operating profit (loss)9901 | €6,023 | -€2,186 | -€517 | -€501 | -€448 | -€497 | -€566 | -€584 | ▼ 3.1% |
| Financial charges65/66B | - | - | - | €70 | €48 | €105 | €99 | €54 | ▼ 45.2% |
| Recurring financial charges65 | €94 | €25 | €80 | €70 | €48 | €105 | €99 | €54 | ▼ 45.2% |
| Profit (loss) for the period before taxes9903 | €5,930 | -€2,210 | -€597 | -€570 | -€496 | -€602 | -€665 | -€638 | ▲ 4.0% |
| Income taxes67/77 | €2,015 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €3,914 | -€2,210 | -€597 | -€570 | -€496 | -€602 | -€665 | -€638 | ▲ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €3,914 | -€2,210 | -€597 | -€570 | -€496 | -€602 | -€665 | -€638 | ▲ 4.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12,181 | €60,509 | €61,714 | €60,797 | €6,954 | €6,501 | €5,954 | €5,316 | ▼ 10.7% |
| Current assets29/58 | €12,181 | €60,509 | €61,714 | €60,797 | €6,954 | €6,501 | €5,954 | €5,316 | ▼ 10.7% |
| Amounts receivable within one year40/41 | €12,110 | €60,488 | €60,488 | €60,488 | €6,851 | €6,481 | €5,788 | €5,203 | ▼ 10.1% |
| Trade receivables40 | - | - | - | €60,000 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €488 | €6,851 | €6,481 | €5,788 | €5,203 | ▼ 10.1% |
| Cash at bank and in hand54/58 | €71 | €22 | €1,227 | €309 | €103 | €20 | €166 | €113 | ▼ 32.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12,181 | €60,509 | €61,714 | €60,797 | €6,954 | €6,501 | €5,954 | €5,316 | ▼ 10.7% |
| Equity10/15 | €9,517 | €7,307 | €6,710 | €6,139 | €5,643 | €5,041 | €4,376 | €3,738 | ▼ 14.6% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €1,457 | -€753 | -€1,350 | -€1,921 | -€2,417 | -€3,019 | -€3,684 | -€4,322 | ▼ 17.3% |
| Amounts payable17/49 | €2,663 | €53,202 | €55,005 | €54,657 | €1,311 | €1,460 | €1,578 | €1,578 | = |
| Amounts payable within one year42/48 | €2,663 | €53,202 | €55,005 | €54,657 | €1,311 | €1,460 | €1,578 | €1,578 | = |
| Trade debts44 | - | €24,576 | €348 | - | €291 | €440 | €558 | €558 | = |
| Suppliers440/4 | - | - | - | - | €291 | €440 | €558 | €558 | = |
| Taxes, remuneration and social security45 | - | - | - | €1,020 | €1,020 | €1,020 | €1,020 | €1,020 | = |
| Taxes450/3 | - | - | - | €1,020 | €1,020 | €1,020 | €1,020 | €1,020 | = |
| Other amounts payable47/48 | - | - | - | €53,637 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,914 | -€2,210 | -€597 | -€570 | -€496 | -€602 | -€665 | -€638 | ▲ 4.0% |
| Operating cash flow (approximation) | €3,914 | -€2,210 | -€597 | -€570 | -€496 | -€602 | -€665 | -€638 | ▲ 4.0% |
| Change in cash | - | -€49 | €1,205 | -€918 | -€206 | -€83 | €146 | -€54 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00312168 | NBB |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00224995 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00178748 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00266729 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20109578 | |
| 31-12-2020 | micro format | 13-07-2021 | 2021-35000240 | |
| 31-12-2019 | full format | 08-10-2020 | 2020-59900365 | |
| 31-12-2018 | full format | 24-07-2019 | 2019-39000381 | |
| 31-12-2017 | full format | 03-07-2018 | 2018-29300112 | |
| 31-12-2016 | full format | 26-07-2017 | 2017-38000461 |
Board & ownership
Directors
Owners and capital
Shareholders
2 ownersChain of control
Owners 2
- EUROPA CUISSONparent99%
-
1%
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| EUROPA CUISSON SA |
|
| Global Maté SA |
|
Network & group
Connections & network
2 current directorsThe network starts from the directors of EC 2. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank