Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2021 to 2025 closed with a loss. 2021 was the heaviest.
Lower solvency than 95% of companies in retail trade. Sector median 33.1% · 22,939 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.6% across 40,277 companies (NACE 47, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 47, micro). It does better than 6% of them on solvency, 52% on liquidity, 6% on profitability and 25% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
In July 2024, 6,619 companies had the same profile as Ecom4All has now. Each dot stands for 17 companies, two years later.
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Ecom4All itself: 1.5% within 12 months.
The method was tested on the 497,448 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 6,619 companies, not a prediction for Ecom4All. 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.
The balance sheet total is too small for a liquidity verdict. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 17 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
These companies have the same main activity as Ecom4All: other non-specialised retail sale (NACE 47120). They are comparable in size and age: total assets between €2,200 and €6,380, founded between 2000 and 2008.
Ecom4All files the micro format. That format states no turnover. The gross margin fell from €1,507 in 2006 to -€337 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 9% of 23,981 companies in 2023.
Higher than 75% of 21,816 companies in 2022.
Higher than 8% of 23,324 companies in 2023.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
2,798 | 15 | 8,502 | 18,388 | 27,283 | 37,117 | 40,898 | 45,029 | 51,951 | 64,675 | 83,798 | 95,351 | 106,601 | 83,882 | 90,826 | 97,004 | 102,906 | 103,569 | 107,394 | |
20 |
1,198 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
21/28 |
- | - | - | - | - | - | 4,943 | 9,813 | 14,684 | 21,583 | 29,218 | 44,586 | 52,320 | 59,756 | 66,191 | 74,056 | 81,920 | 68,206 | 72,076 | |
22/27 |
- | - | - | - | - | - | 4,943 | 9,813 | 14,684 | 21,583 | 29,218 | 44,586 | 52,320 | 59,756 | 66,191 | 74,056 | 81,920 | 68,206 | 72,076 | |
22 |
- | - | - | - | - | - | 4,225 | 8,388 | 12,550 | 16,713 | 20,875 | 29,200 | 33,363 | 37,525 | 41,688 | 45,850 | 50,013 | 54,175 | 58,338 | |
23 |
- | - | - | - | - | - | 718 | 1,426 | 2,134 | 4,870 | 8,343 | 15,287 | 18,759 | 22,231 | 24,504 | 27,776 | 31,048 | 14,031 | 9,918 | |
24 |
- | - | - | - | - | - | - | - | - | - | - | 99 | 198 | - | - | 430 | 859 | - | - | |
29/58 |
1,600 | 15 | 8,502 | 18,388 | 27,283 | 37,117 | 35,955 | 35,215 | 37,268 | 43,092 | 54,581 | 50,766 | 54,282 | 24,125 | 24,635 | 22,948 | 20,987 | 35,362 | 35,318 | |
40/41 |
- | - | 8,473 | 18,388 | 26,055 | 31,059 | 32,714 | 32,289 | 33,248 | 39,847 | 44,861 | 44,312 | 32,791 | 19,252 | 14,429 | 15,571 | 12,932 | 27,173 | 32,381 | |
40 |
- | - | - | - | - | - | - | - | - | 6,680 | 7,334 | 8,870 | 6,593 | 329 | 3,478 | - | - | 20,417 | 19,201 | |
41 |
- | - | 8,473 | 18,388 | 26,055 | 31,059 | 32,714 | 32,289 | 33,248 | 33,167 | 37,527 | 35,443 | 26,198 | 18,923 | 10,951 | 15,571 | 12,932 | 6,756 | 13,180 | |
54/58 |
1,600 | 15 | - | - | 1,228 | - | 382 | 28 | 1,131 | - | - | 3,464 | 19,300 | 2,460 | 8,893 | 4,816 | 6,919 | 7,052 | 1,706 | |
490/1 |
- | - | 29 | - | - | 6,058 | 2,859 | 2,898 | 2,888 | 3,245 | 9,720 | 2,989 | 2,191 | 2,413 | 1,314 | 2,561 | 1,137 | 1,137 | 1,231 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
2,798 | 15 | 8,502 | 18,388 | 27,283 | 37,117 | 40,898 | 45,029 | 51,951 | 64,675 | 83,798 | 95,351 | 106,601 | 83,882 | 90,826 | 97,004 | 102,906 | 103,569 | 107,394 | |
10/15 |
-11,978 | -10,769 | -8,203 | -5,427 | -2,215 | 1,705 | -2,274 | -883 | 2,434 | 9,539 | 21,245 | 24,522 | 23,660 | 959 | 735 | -358 | -356 | -13,299 | -9,714 | |
10/11 |
10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | 10,334 | |
100 |
- | - | - | - | - | - | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | |
101 |
- | - | - | - | - | - | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | 8,666 | |
13 |
1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 550 | 550 | 550 | 550 | 550 | 550 | |
130/1 |
1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 550 | 550 | 550 | 550 | 550 | 550 | |
1311 |
1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-24,212 | -23,003 | -20,437 | -17,661 | -14,449 | -10,529 | -14,508 | -13,117 | -9,800 | -2,695 | 9,011 | 12,288 | 11,426 | -9,925 | -10,149 | -11,242 | -11,240 | -24,183 | -20,598 | |
17/49 |
14,777 | 10,784 | 16,706 | 23,815 | 29,498 | 35,412 | 43,172 | 45,911 | 49,517 | 55,136 | 62,553 | 70,829 | 82,941 | 82,923 | 90,091 | 97,362 | 103,262 | 116,868 | 117,108 | |
17 |
- | - | 16,706 | 16,978 | 22,614 | 28,899 | 34,262 | 39,550 | 44,775 | 49,227 | 53,797 | 62,480 | 66,480 | 72,310 | 78,782 | 85,064 | 91,021 | 98,794 | 102,185 | |
170/4 |
- | - | 16,706 | 16,978 | 22,614 | 28,899 | 34,262 | 39,550 | 44,775 | 49,227 | 53,797 | 62,480 | 66,480 | 72,310 | 78,782 | 85,064 | 91,021 | 98,794 | 102,185 | |
42/48 |
14,777 | 10,784 | - | 6,837 | 6,884 | 6,513 | 8,910 | 6,361 | 4,742 | 5,909 | 8,756 | 7,850 | 15,961 | 10,363 | 10,716 | 11,706 | 12,241 | 18,074 | 14,923 | |
42 |
- | 10,637 | - | 6,000 | 5,640 | 5,300 | 5,160 | 4,852 | 4,376 | 4,452 | 4,200 | 3,012 | 5,973 | 6,876 | 6,103 | 5,504 | 5,891 | 12,116 | 10,252 | |
43 |
- | - | - | 837 | - | 176 | - | - | - | 1,175 | 466 | - | - | - | - | - | - | - | - | |
430/8 |
- | - | - | 837 | - | 176 | - | - | - | 1,175 | 466 | - | - | - | - | - | - | - | - | |
44 |
1,497 | - | - | - | 1,244 | 1,037 | 3,750 | 1,509 | 366 | 216 | 4,062 | 390 | 1,246 | 1,516 | 1,070 | 2,844 | 4,161 | 2,155 | 4,109 | |
440/4 |
1,497 | - | - | - | 1,244 | 1,037 | 3,750 | 1,509 | 366 | 216 | 4,062 | 390 | 1,246 | 1,516 | 1,070 | 1,934 | 3,251 | 2,155 | 4,109 | |
441 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 910 | 910 | - | - | |
45 |
- | - | - | - | - | - | - | - | - | 66 | 28 | 4,448 | 8,742 | 1,972 | 3,542 | 3,358 | 2,189 | 3,803 | 562 | |
450/3 |
- | - | - | - | - | - | - | - | - | 66 | 28 | 4,448 | 8,742 | 1,972 | 3,542 | 3,358 | 2,189 | 3,803 | 562 | |
47/48 |
13,279 | 147 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | 500 | 500 | 250 | 593 | 593 | - | - | - | |
| Income statement | ||||||||||||||||||||
9900 |
-337 | -1,139 | -1,610 | -1,208 | -1,864 | 8,790 | 4,688 | 1,347 | 7,360 | -3,894 | 3,455 | 11,455 | 38,185 | 13,053 | 14,331 | 11,616 | 30,861 | 11,115 | 1,507 | |
630 |
- | - | - | - | - | 4,943 | 4,870 | 4,870 | 6,899 | 7,635 | 7,635 | 7,734 | 7,734 | 7,435 | 7,864 | 7,864 | 7,864 | 9,226 | 8,886 | |
640/8 |
- | 617 | - | 189 | 924 | 1,213 | 1,957 | 348 | 7,807 | 1,150 | 1,141 | 1,117 | 1,128 | 1,585 | 1,070 | - | 739 | 469 | 15,064 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 310 | 118 | - | 6,378 | - | - | |
9901 |
-337 | -1,756 | -1,610 | -1,397 | -2,788 | 2,633 | -2,138 | -3,870 | -7,347 | -12,679 | -5,320 | 2,604 | 29,324 | 4,033 | 5,397 | 3,752 | 22,258 | 1,420 | -22,443 | |
75/76B |
- | - | - | 0 | - | 3,199 | 2,859 | 2,898 | 2,888 | 3,245 | 3,250 | 2,990 | 2,191 | 1,270 | 1,144 | 1,425 | 1,096 | 1,036 | 918 | |
75 |
- | - | - | 0 | - | 3,199 | 2,859 | 2,898 | 2,888 | 3,245 | 3,250 | 2,990 | 2,191 | 1,270 | 1,144 | 1,425 | 1,096 | 1,036 | 918 | |
65/66B |
873 | 810 | 1,166 | 1,816 | 1,132 | 1,854 | 2,111 | 2,344 | 2,646 | 2,272 | 3,433 | 4,732 | 4,365 | 4,769 | 5,329 | 5,180 | 3,932 | 6,042 | 3,495 | |
65 |
873 | 810 | 1,166 | 1,816 | 1,132 | 1,854 | 2,111 | 2,344 | 2,646 | 2,272 | 3,433 | 4,732 | 4,365 | 4,769 | 5,329 | 5,180 | 3,932 | 6,042 | 3,495 | |
9903 |
-1,209 | -2,566 | -2,776 | -3,213 | -3,920 | 3,979 | -1,391 | -3,317 | -7,105 | -11,706 | -5,503 | 862 | 27,149 | 224 | 1,094 | -3 | 13,044 | -3,585 | -25,020 | |
67/77 |
- | - | - | - | - | - | - | - | - | - | - | - | 4,448 | - | - | - | 101 | - | - | |
9904 |
-1,209 | -2,566 | -2,776 | -3,213 | -3,920 | 3,979 | -1,391 | -3,317 | -7,105 | -11,706 | -5,503 | 862 | 22,701 | 224 | 1,094 | -3 | 12,944 | -3,585 | -25,020 | |
9905 |
-1,209 | -2,566 | -2,776 | -3,213 | -3,920 | 3,979 | -1,391 | -3,317 | -7,105 | -11,706 | -5,503 | 862 | 22,701 | 224 | 1,094 | -3 | 12,944 | -3,585 | -25,020 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-24,212 | -23,003 | -20,437 | -17,661 | -14,449 | -10,529 | -14,508 | -13,117 | -9,800 | -2,695 | 9,011 | 12,288 | 12,776 | -9,925 | -10,149 | -11,242 | -11,240 | -24,183 | -20,598 | |
14P |
-23,003 | -20,437 | -17,661 | -14,449 | -10,529 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,350 | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,350 | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 4 older financial years (2002-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 26-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-07-2026 | 2026-00332284 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00342167 | |
| 31-12-2023 | micro format | 23-08-2024 | 2024-00366955 | |
| 31-12-2022 | micro format | 16-08-2023 | 2023-00332660 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20365118 | |
| 31-12-2020 | micro format | 25-08-2021 | 2021-53100269 | |
| 31-12-2019 | micro format | 30-08-2020 | 2020-47900318 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41000275 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-53900249 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56600486 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-57000304 | |
| 31-12-2013 | full format | 31-08-2014 | 2014-56000198 | |
| 31-12-2012 | full format | 31-08-2013 | 2013-56700423 | |
| 31-12-2011 | full format | 30-08-2012 | 2012-49300329 | |
| 31-12-2010 | full format | 29-08-2011 | 2011-45600040 | |
| 31-12-2009 | full format | 31-08-2010 | 2010-50400577 | |
| 31-12-2008 | full format | 31-08-2009 | 2009-74100209 | |
| 31-12-2007 | full format | 29-08-2008 | 2008-70300053 | |
| 31-12-2006 | full format | 27-08-2007 | 2007-62200159 | |
| 31-12-2005 | full format | 17-08-2006 | 2006-63704788 | |
| 31-12-2004 | full format | 26-09-2005 | 2005-71004126 | |
| 31-12-2003 | full format | 30-07-2004 | 2004-55305128 | |
| 31-12-2002 | full format | 31-07-2003 | 2003-56801267 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | 7,577 | 2,732 | 1,000 | -448 | -5,044 | 2,315 | 10,338 | 37,057 | 11,468 | 13,262 | 11,616 | 30,122 | 10,646 | -13,557 | ||
| - | - | - | - | - | 8,922 | 3,479 | 1,553 | -205 | -4,071 | 2,132 | 8,596 | 30,435 | 7,658 | 8,958 | 7,861 | 20,808 | 5,640 | -16,134 | ||
| - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | - | 0 | 297 | 1,000 | 0 | 0 | 21,577 | 5,356 | 73,126 | ||
| 1,585 | - | - | - | - | - | 354 | -1,104 | - | - | - | -15,836 | 16,841 | -6,433 | 4,077 | -2,102 | -134 | 5,346 | - | ||
| -13,177 | -10,769 | - | 11,551 | 20,399 | 30,604 | 27,045 | 28,854 | 32,526 | 37,183 | 45,824 | 42,916 | 38,320 | 13,762 | 13,919 | 11,242 | 8,746 | 17,288 | 20,396 | ||
| - | - | -96.5% | -29.5% | -8.1% | 4.6% | -5.6% | -2.0% | 4.7% | 14.7% | 25.4% | 25.7% | 22.2% | 1.1% | 0.8% | -0.4% | -0.3% | -12.8% | -9.0% | ||
| - | - | - | 2.69 | 3.96 | 5.70 | 4.04 | 5.54 | 7.86 | 7.29 | 6.23 | 6.47 | 3.40 | 2.33 | 2.30 | 1.96 | 1.71 | 1.96 | 2.37 | ||
| - | - | - | - | - | 20.77 | - | - | 20.34 | 5.78 | 2.94 | 2.89 | 3.51 | - | - | - | - | - | - | ||
| - | - | - | - | - | 233.3% | - | - | -291.9% | -122.7% | -25.9% | 3.5% | 95.9% | - | - | - | - | - | - | ||
| - | - | -32.6% | -17.5% | -14.4% | 10.7% | -3.4% | -7.4% | -13.7% | -18.1% | -6.6% | 0.9% | 21.3% | 0.3% | 1.2% | 0.0% | 12.6% | -3.5% | -23.3% |
The ratios are withheld because a balance sheet total of €2,798 is too small for a meaningful ratio.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €337, smaller than the loss of €1,756 in 2024.
Equity is negative. Debt (€14,777) exceeds the balance-sheet total (€2,798).
Ecom4All has no parent and no holdings in its annual accounts.
See the function holders in the KBO register.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Liège 61 registered office 4600 Visé | ||
| Steenkoolkaai 8 1000 Brussels 74301 Translation services | 12-04-2002 | 2.098.967.063 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 62065A0961/00P000 | 98 m² | 1 · 86 m² | 10.2 m · 3 |
If something looks wrong or is missing, please tell us.