ECO FIRST
ActiveSummary
ECO FIRST has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69k and a net result of €815. Equity is growing by ~22.3% per year across the filed fiscal years. Its solvency ranks better than 28% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▼-12
Solvency52▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.21 in 2024; short-term debt: 5.7% and cash: 5.1% of total assets), and 73.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-09-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
on the day
2023
1 d early
2022
3 d early
2021
37 d early
2020
29 d early
2019
37 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€69k▲ 1.2%
2024 · €68k
2019: €2klowest in 7 years
2020: €9k▲ +449% vs 2019
2021: €46k▲ +420% vs 2020
2022: €78k▲ +71.0% vs 2021highest in 7 years
2023: €53k▼ -31.8% vs 2022
2024: €68k▲ +26.7% vs 2023
2025: €69k▲ +1.2% vs 2024
2019 → 2025
Total assets
€258k▼ 9.5%
2024 · €285k
2019: €2klowest in 7 years
2020: €90k▲ +3647% vs 2019
2021: €114k▲ +27.4% vs 2020
2022: €469k▲ +311% vs 2021highest in 7 years
2023: €360k▼ -23.4% vs 2022
2024: €285k▼ -20.7% vs 2023
2025: €258k▼ -9.5% vs 2024
2019 → 2025
Net result
€815▼ 94.3%
2024 · €14k
2019: €-571
2020: €7k▲ +1363% vs 2019
2021: €37k▲ +414% vs 2020highest in 7 years
2022: €33k▼ -12.1% vs 2021
2023: €-25k▼ -177% vs 2022lowest in 7 years
2024: €14k▲ +157% vs 2023
2025: €815▼ -94.3% vs 2024
2019 → 2025
Working capital
€7k▲ 19.9%
2024 · €6k
2019: €2k
2020: €-2k▼ -201% vs 2019
2021: €24k▲ +1612% vs 2020
2022: €50k▲ +106% vs 2021highest in 7 years
2023: €-10k▼ -121% vs 2022lowest in 7 years
2024: €6k▲ +157% vs 2023
2025: €7k▲ +19.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€46k-€78k▲ 71.0%€53k▼ 31.8%€68k▲ 26.7%€69k▲ 1.2%
2021: €46klowest in 5 years
2022: €78k▲ +71.0% vs 2021highest in 5 years
2023: €53k▼ -31.8% vs 2022
2024: €68k▲ +26.7% vs 2023
2025: €69k▲ +1.2% vs 2024
Operating result€38k-€40k▲ 6.8%€-15k€18k€3k▼ 80.9%
2021: €38k
2022: €40k▲ +6.8% vs 2021highest in 5 years
2023: €-15k▼ -138% vs 2022lowest in 5 years
2024: €18k▲ +217% vs 2023
2025: €3k▼ -80.9% vs 2024
Net result€37k-€33k▼ 12.1%€-25k€14k€815▼ 94.3%
2021: €37khighest in 5 years
2022: €33k▼ -12.1% vs 2021
2023: €-25k▼ -177% vs 2022lowest in 5 years
2024: €14k▲ +157% vs 2023
2025: €815▼ -94.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 81% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €258k
Fixed assets
€236k ▼ 5.6%
Current assets
€22k ▼ 37.2%
Equity and liabilities €258k
Equity
€69k ▲ 1.2%
Debt
€190k ▼ 12.8%
Debt's share of the balance-sheet total falls from 76.3% to 73.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15k▼
2024 · €35k
Cash flow
€13k▼
2024 · €31k
Current ratio
1.48▲
2024 · 1.21
Debt to equity
2.77▼
2024 · 3.21
ROE
1.2%▼
2024 · 21.1%
ROA
0.3%▼
2024 · 5.0%
Interest coverage
5.21▼
2024 · 9.57
Debt ≤ 1 year
€15k▼
2024 · €29k
Debt > 1 year
€175k▼
2024 · €189k
Income taxes
€17▲
2024 · €0
Staff costs
€0▼
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€285k€258k▼
Fixed assets21/28€250k€236k▼
Tangible fixed assets22/27€250k€236k▼
Land and buildings22€237k€230k▼
Plant, machinery and equipment23€4k€611▼
Furniture and vehicles24€9k€5k▼
Other tangible fixed assets26€481€215▼
Current assets29/58€35k€22k▼
Stocks and contracts in progress3€4k€0▼
Stocks30/36€4k€0▼
Amounts receivable within one year40/41€20k€8k▼
Trade receivables40€20k€670▼
Other amounts receivable41€0€7k▲
Cash at bank and in hand54/58€10k€13k▲
Deferred charges and accrued income490/1€2k€628▼
Equity and liabilities
Total equity and liabilities10/49€285k€258k▼
Equity10/15€68k€69k▲
Contributions10/11€19k€19k=
Reserves13€60k€60k=
Distributable reserves133€60k€60k=
Profit (loss) carried forward14€-11k€-10k▲
Amounts payable17/49€218k€190k▼
Amounts payable after more than one year17€189k€175k▼
Financial debts170/4€189k€175k▼
Amounts payable within one year42/48€29k€15k▼
Current portion of amounts payable after more than one year42€14k€14k▲
Trade debts44€9k€513▼
Suppliers440/4€9k€513▼
Taxes, remuneration and social security45€2k€531▼
Taxes450/3€2k€531▼
Remuneration and social security454/9€0€0▼
Other amounts payable47/48€4k€0▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A€13k€6k▼
Remuneration, social security and pensions62€12k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€12k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-6k€0▲
Other operating charges640/8€7k€2k▼
Non-recurring operating charges66A€818€876▲
Gross operating margin9900€49k€18k▼
Operating profit (loss)9901€18k€3k▼
Financial income75/76B€42€318▲
Recurring financial income75€42€318▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€14k€832▼
Income taxes67/77€0€17▲
Profit (loss) for the period9904€14k€815▼
Profit (loss) for the period to be appropriated9905€14k€815▼
Appropriation of the result
Profit (loss) to be appropriated9906€-11k€-10k▲
Profit (loss) brought forward from the previous period14P€-25k€-11k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2k | €13k | €6k | ▼ 55.6% |
| Remuneration, social security and pensions62 | - | €22k | €30k | €12k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €12k | €19k | €17k | €12k | ▼ 31.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €-2k | €6k | €-6k | €0 | ▲ 100% |
| Other operating charges640/8 | - | €3k | €2k | €7k | €2k | ▼ 75.7% |
| Non-recurring operating charges66A | - | - | €119 | €818 | €876 | ▲ 7.0% |
| Gross operating margin9900 | €66k | €75k | €42k | €49k | €18k | ▼ 63.7% |
| Operating profit (loss)9901 | €38k | €40k | €-15k | €18k | €3k | ▼ 80.9% |
| Financial income75/76B | - | €571 | €217 | €42 | €318 | ▲ 665% |
| Recurring financial income75 | €1k | €571 | €217 | €42 | €318 | ▲ 665% |
| Financial charges65/66B | - | €4k | €8k | €4k | €3k | ▼ 20.3% |
| Recurring financial charges65 | €1k | €2k | €8k | €4k | €3k | ▼ 20.3% |
| Non-recurring financial charges66B | - | €2k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €38k | €37k | €-23k | €14k | €832 | ▼ 94.2% |
| Income taxes67/77 | €679 | €4k | €2k | €0 | €17 | - |
| Profit (loss) for the period9904 | €37k | €33k | €-25k | €14k | €815 | ▼ 94.3% |
| Profit (loss) for the period to be appropriated9905 | €37k | €33k | €-25k | €14k | €815 | ▼ 94.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €114k | €469k | €360k | €285k | €258k | ▼ 9.5% |
| Fixed assets21/28 | €34k | €175k | €270k | €250k | €236k | ▼ 5.6% |
| Tangible fixed assets22/27 | €34k | €175k | €270k | €250k | €236k | ▼ 5.6% |
| Land and buildings22 | - | €139k | €244k | €237k | €230k | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €9k | €7k | €4k | €611 | ▼ 84.0% |
| Furniture and vehicles24 | - | €25k | €17k | €9k | €5k | ▼ 41.6% |
| Other tangible fixed assets26 | - | €1k | €972 | €481 | €215 | ▼ 55.3% |
| Current assets29/58 | €80k | €295k | €90k | €35k | €22k | ▼ 37.2% |
| Stocks and contracts in progress3 | €18k | €7k | €10k | €4k | €0 | ▼ 100% |
| Stocks30/36 | - | €7k | €10k | €4k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €37k | €254k | €59k | €20k | €8k | ▼ 59.4% |
| Trade receivables40 | - | €247k | €54k | €20k | €670 | ▼ 96.7% |
| Other amounts receivable41 | - | €7k | €5k | €0 | €7k | - |
| Cash at bank and in hand54/58 | €22k | €30k | €15k | €10k | €13k | ▲ 34.4% |
| Deferred charges and accrued income490/1 | - | €4k | €7k | €2k | €628 | ▼ 58.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €114k | €469k | €360k | €285k | €258k | ▼ 9.5% |
| Equity10/15 | €46k | €78k | €53k | €68k | €69k | ▲ 1.2% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €27k | €60k | €60k | €60k | €60k | = |
| Non-distributable reserves130/1 | - | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €0 | - | - | - |
| Distributable reserves133 | - | €58k | €60k | €60k | €60k | = |
| Profit (loss) carried forward14 | €-37k | - | €-25k | €-11k | €-10k | ▲ 7.6% |
| Amounts payable17/49 | €68k | €391k | €306k | €218k | €190k | ▼ 12.8% |
| Amounts payable after more than one year17 | €13k | €145k | €202k | €189k | €175k | ▼ 7.3% |
| Financial debts170/4 | - | €145k | €202k | €189k | €175k | ▼ 7.3% |
| Amounts payable within one year42/48 | €56k | €244k | €101k | €29k | €15k | ▼ 48.9% |
| Current portion of amounts payable after more than one year42 | - | €8k | €18k | €14k | €14k | ▲ 1.4% |
| Trade debts44 | €11k | €184k | €26k | €9k | €513 | ▼ 94.3% |
| Suppliers440/4 | - | €184k | €26k | €9k | €513 | ▼ 94.3% |
| Taxes, remuneration and social security45 | - | €6k | €2k | €2k | €531 | ▼ 78.0% |
| Taxes450/3 | - | €456 | €0 | €2k | €531 | ▼ 78.0% |
| Remuneration and social security454/9 | - | €5k | €2k | €0 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €47k | €54k | €4k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €1k | €3k | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37k | €33k | €-25k | €14k | €815 | ▼ 94.3% |
| + Depreciation and write-downs630 | €8k | €12k | €19k | €17k | €12k | ▼ 31.1% |
| Operating cash flow (approximation) | €45k | €44k | €-6k | €31k | €13k | ▼ 59.9% |
| Investment in fixed assets (approximation) | - | €-152k | €-114k | €2k | €2k | ▲ 13.3% |
| Change in cash | - | €8k | €-15k | €-5k | €3k | ▲ 167% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €-25k
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
24-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €37k ▲414%
Net result €37k, the highest in the series.
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
2017
15-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 15 days late
2016
30-09
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 2 acts read
About the unread acts
We know of 2 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
2 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, Dentergem · 1 establishment unit since 2009
Ground area
372 m²
Building footprint
95 m²
Volume, LiDAR
480 m³
Parcel 37008B0446/00R009, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Elektrotechniek Bernard Van Heule
since 20092.177.547.654
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37008B0446/00R009 | Flanders | 372 m² | 1 · 95 m² | 7.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 579 EUR awarded · 579 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 579 EUR | 579 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 8,753 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
Founded02-04-2009
Fiscal year end31-03
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
47552Retail sale of lighting equipment
Contact
Phone
+3293885575
Scores and ratios are computed by Checked and are not a credit decision.