EC-S
ActiveSummary
EC-S has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €142k and a net result of €22k. Equity is growing by ~15.3% per year across the filed fiscal years. Its solvency ranks better than 50% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability42▼-43
Solvency83▼-17
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.34 against 6.34 in 2023; short-term debt: 41.5% and cash: 5.7% of total assets), and 41.5% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-10-2025, 83 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
83 d late
2023
121 d late
2022
108 d late
2021
101 d late
2020
122 d late
2019
140 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Financials · fiscal year 2024, micro schema
Equity
€142k▼ 60.7%
2023 · €361k
Total assets
€243k▼ 43.2%
2023 · €427k
Net result
€22k▼ 59.1%
2023 · €54k
Working capital
€136k▼ 61.5%
2023 · €352k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€97k▲ 86.5%€67k▼ 31.1%€25k▼ 62.5%€64k▲ 155%€75k▲ 17.7%
Net result€77k▲ 84.7%€56k▼ 27.5%€22k▼ 61.2%€54k▲ 148%€22k▼ 59.1%
Equity€248k▲ 38.5%€302k▲ 21.8%€316k▲ 4.6%€361k▲ 14.4%€142k▼ 60.7%
Total assets€294k▲ 47.1%€345k▲ 17.4%€362k▲ 4.8%€427k▲ 18.2%€243k▼ 43.2%
Debt€46k▲ 119%€43k▼ 6.6%€46k▲ 6.3%€66k▲ 44.0%€101k▲ 52.7%
Working capital€239k▲ 38.7%€298k▲ 24.6%€306k▲ 2.7%€352k▲ 15.2%€136k▼ 61.5%
Staff (FTE)0.4=1▲ 150%1=1=1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 18% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €243k
Fixed assets
€7k ▼ 28.6%
Current assets
€236k ▼ 43.5%
Equity and liabilities €243k
Equity
€142k ▼ 60.7%
Debt
€101k ▲ 52.7%
Debt's share of the balance-sheet total rises from 15.4% to 41.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€77k▲
2023 · €68k
Cash flow
€25k▼
2023 · €58k
Current ratio
2.34▼
2023 · 6.34
Debt to equity
0.71▲
2023 · 0.18
ROE
15.5%▲
2023 · 14.9%
ROA
9.1%▼
2023 · 12.6%
Interest coverage
1.46▼
2023 · 101.08
Debt ≤ 1 year
€101k▲
2023 · €66k
Income taxes
€5k▼
2023 · €12k
Staff costs
€21k▼
2023 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €173 | - | - |
| Remuneration, social security and pensions62 | - | €14k | €19k | €21k | €21k | ▼ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €5k | €4k | €4k | €3k | ▼ 37.8% |
| Other operating charges640/8 | - | €488 | €450 | €758 | €1k | ▲ 85.2% |
| Non-recurring operating charges66A | - | - | - | €174 | €4k | ▲ 2,436% |
| Gross operating margin9900 | €118k | €86k | €49k | €90k | €104k | ▲ 16.1% |
| Operating profit (loss)9901 | €97k | €67k | €25k | €64k | €75k | ▲ 17.7% |
| Financial income75/76B | - | €973 | €2k | €3k | €5k | ▲ 48.3% |
| Recurring financial income75 | €367 | €973 | €2k | €3k | €5k | ▲ 48.3% |
| Financial charges65/66B | - | €478 | €197 | €671 | €53k | ▲ 7,798% |
| Recurring financial charges65 | €237 | €478 | €197 | €671 | €53k | ▲ 7,798% |
| Profit (loss) for the period before taxes9903 | €97k | €67k | €27k | €66k | €27k | ▼ 59.4% |
| Income taxes67/77 | €19k | €11k | €5k | €12k | €5k | ▼ 60.3% |
| Profit (loss) for the period9904 | €77k | €56k | €22k | €54k | €22k | ▼ 59.1% |
| Profit (loss) for the period to be appropriated9905 | €77k | €56k | €22k | €54k | €22k | ▼ 59.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €294k | €345k | €362k | €427k | €243k | ▼ 43.2% |
| Fixed assets21/28 | €9k | €4k | €10k | €9k | €7k | ▼ 28.6% |
| Tangible fixed assets22/27 | €9k | €4k | €10k | €9k | €6k | ▼ 29.6% |
| Plant, machinery and equipment23 | - | €4k | €10k | €6k | €4k | ▼ 33.2% |
| Furniture and vehicles24 | - | - | - | €3k | €2k | ▼ 22.3% |
| Financial fixed assets28 | €320 | €320 | €320 | €320 | €320 | = |
| Current assets29/58 | €285k | €341k | €352k | €418k | €236k | ▼ 43.5% |
| Amounts receivable within one year40/41 | €43k | €90k | €150k | €212k | €201k | ▼ 5.1% |
| Trade receivables40 | - | €25k | €20k | €69k | €80k | ▲ 15.6% |
| Other amounts receivable41 | - | €65k | €130k | €143k | €122k | ▼ 15.0% |
| Cash at bank and in hand54/58 | €192k | €250k | €199k | €189k | €14k | ▼ 92.7% |
| Deferred charges and accrued income490/1 | - | €1k | €3k | €17k | €21k | ▲ 23.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €294k | €345k | €362k | €427k | €243k | ▼ 43.2% |
| Equity10/15 | €248k | €302k | €316k | €361k | €142k | ▼ 60.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €233k | €282k | €295k | €341k | €122k | ▼ 64.3% |
| Amounts payable17/49 | €46k | €43k | €46k | €66k | €101k | ▲ 52.7% |
| Amounts payable within one year42/48 | €46k | €43k | €46k | €66k | €101k | ▲ 52.7% |
| Trade debts44 | €12k | €6k | €17k | €27k | €33k | ▲ 21.7% |
| Suppliers440/4 | - | €6k | €17k | €27k | €33k | ▲ 21.7% |
| Taxes, remuneration and social security45 | - | €29k | €21k | €31k | €60k | ▲ 96.4% |
| Taxes450/3 | - | €14k | €13k | €13k | €51k | ▲ 286% |
| Remuneration and social security454/9 | - | €14k | €9k | €17k | €9k | ▼ 47.5% |
| Other amounts payable47/48 | - | €8k | €8k | €9k | €8k | ▼ 5.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €77k | €56k | €22k | €54k | €22k | ▼ 59.1% |
| + Depreciation and write-downs630 | €3k | €5k | €4k | €4k | €3k | ▼ 37.8% |
| Operating cash flow (approximation) | €80k | €61k | €26k | €58k | €25k | ▼ 57.6% |
| Investment in fixed assets (approximation) | - | €0 | €-10k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €57k | €-51k | €-10k | €-175k | ▼ 1,686% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 83 days late
2024
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 121 days late
2023
16-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 108 days late
2022
31-12
Financial
Weakest financial yearnet €22k ▼61.2%
Net result drops to €22k, the lowest in the series; recovery starts the following year.
09-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 101 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 122 days late
2020
31-12
Financial
Highest result since 2018net €77k ▲84.7%
Operating result €97k, net result €77k, both a record.
31-12
Financial
Equity above €200kEq €248k ▲38.5%
3 profitable years in a row build equity to €248k.
18-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 140 days late
2019
31-12
Financial
Equity above €150kEq €179k ▲23.4%
2 profitable years in a row build equity to €179k.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2015
Ground area
216 m²
Building footprint
84 m²
Volume, LiDAR
665 m³
Parcel 11423B0349/00N004, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Meereigen 103, 2170 Antwerpen
since 20152.250.959.729
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11423B0349/00N004 | Flanders | 216 m² | 1 · 84 m² | 10.9 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 40,883 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-11-2015
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.