ECONAD
ActiveSummary
ECONAD has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,806 and a net result of €61,486. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 27% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency53▼-38
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 2.75 in 2024; short-term debt: 72.2% and cash: 89.5% of total assets), and 72.2% of the assets are financed with debt.
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Signals
Four 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.8%
Return on assets
59.3%
Age of the figures
9 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
28 d late
2023
78 d late
2022
117 d late
2021
31 d late
2020
55 d late
2019
73 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 53 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€28,806▼ 49.8%
2024 · €57,420
Total assets
€103,751▲ 18.8%
2024 · €87,366
Net result
€61,486▲ 0.3%
2024 · €61,288
Working capital
€24,428▼ 53.5%
2024 · €52,533
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
Line20212022202320242025
Operating result€106€5,653▲ 5,226%-€3,958€82,671€82,509▼ 0.2%
Net result-€1,207▲ 82.3%€3,557-€4,138€61,288€61,486▲ 0.3%
Equity-€3,287▼ 58.0%€270-€3,868€57,420€28,806▼ 49.8%
Total assets€17,278▲ 5.9%€21,884▲ 26.7%€16,925▼ 22.7%€87,366▲ 416%€103,751▲ 18.8%
Debt€20,565▲ 11.8%€21,614▲ 5.1%€20,794▼ 3.8%€29,946▲ 44.0%€74,946▲ 150%
Working capital-€6,157▼ 25.5%-€3,597▲ 41.6%-€7,374▼ 105%€52,533€24,428▼ 53.5%
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 0% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €103,751
Fixed assets
€4,377 ▼ 10.4%
Current assets
€99,374 ▲ 20.5%
Equity and liabilities €103,751
Equity
€28,806 ▼ 49.8%
Debt
€74,946 ▲ 150%
Debt's share of the balance-sheet total rises from 34.3% to 72.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€83,819▼
2024 · €84,735
Cash flow
€62,796▼
2024 · €63,352
Current ratio
1.33▼
2024 · 2.75
Debt to equity
2.60▲
2024 · 0.52
ROE
213.5%▲
2024 · 106.7%
ROA
59.3%▼
2024 · 70.2%
Interest coverage
457.90▲
2024 · 362.10
Debt ≤ 1 year
€74,946▲
2024 · €29,946
Income taxes
€20,840▼
2024 · €21,179
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 5,049 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €865 | €1,071 | €1,542 | €2,064 | €1,310 | ▼ 36.5% |
| Other operating charges640/8 | €1,217 | €750 | €716 | €728 | €644 | ▼ 11.5% |
| Gross operating margin9900 | €2,188 | €7,473 | -€1,699 | €85,463 | €84,463 | ▼ 1.2% |
| Operating profit (loss)9901 | €106 | €5,653 | -€3,958 | €82,671 | €82,509 | ▼ 0.2% |
| Financial income75/76B | - | - | - | €30 | - | - |
| Recurring financial income75 | - | - | - | €30 | - | - |
| Financial charges65/66B | €160 | €165 | €180 | €234 | €183 | ▼ 21.8% |
| Recurring financial charges65 | €160 | €165 | €180 | €234 | €183 | ▼ 21.8% |
| Profit (loss) for the period before taxes9903 | -€54 | €5,487 | -€4,138 | €82,467 | €82,326 | ▼ 0.2% |
| Income taxes67/77 | €1,153 | €1,931 | - | €21,179 | €20,840 | ▼ 1.6% |
| Profit (loss) for the period9904 | -€1,207 | €3,557 | -€4,138 | €61,288 | €61,486 | ▲ 0.3% |
| Profit (loss) for the period to be appropriated9905 | -€1,207 | €3,557 | -€4,138 | €61,288 | €61,486 | ▲ 0.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17,278 | €21,884 | €16,925 | €87,366 | €103,751 | ▲ 18.8% |
| Fixed assets21/28 | €2,870 | €3,867 | €3,505 | €4,887 | €4,377 | ▼ 10.4% |
| Tangible fixed assets22/27 | €2,870 | €3,867 | €3,505 | €4,887 | €4,377 | ▼ 10.4% |
| Plant, machinery and equipment23 | €1,461 | €974 | €487 | €2,035 | €2,100 | ▲ 3.2% |
| Furniture and vehicles24 | €1,408 | €2,893 | €1,907 | €1,859 | €1,402 | ▼ 24.6% |
| Other tangible fixed assets26 | - | - | €1,111 | €993 | €875 | ▼ 11.9% |
| Current assets29/58 | €14,408 | €18,017 | €13,420 | €82,479 | €99,374 | ▲ 20.5% |
| Amounts receivable within one year40/41 | €8,150 | €7,396 | €8,163 | €4,916 | €6,129 | ▲ 24.7% |
| Trade receivables40 | €8,126 | €7,372 | €7,454 | €4,890 | €6,022 | ▲ 23.1% |
| Other amounts receivable41 | €24 | €25 | €709 | €26 | €108 | ▲ 314% |
| Cash at bank and in hand54/58 | €5,842 | €10,279 | €4,915 | €77,183 | €92,865 | ▲ 20.3% |
| Deferred charges and accrued income490/1 | €417 | €341 | €342 | €380 | €380 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17,278 | €21,884 | €16,925 | €87,366 | €103,751 | ▲ 18.8% |
| Equity10/15 | -€3,287 | €270 | -€3,868 | €57,420 | €28,806 | ▼ 49.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | ▲ 200% |
| Capital10 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €12,400 | €12,400 | - | - | - | - |
| Outside capital11 | - | - | €6,200 | - | - | - |
| Other1109/19 | - | - | €6,200 | - | - | - |
| Reserves13 | €3,260 | €3,260 | €3,260 | €3,260 | €3,260 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €1,400 | €1,400 | €1,400 | €1,400 | €1,400 | = |
| Profit (loss) carried forward14 | -€12,747 | -€9,190 | -€13,328 | €47,960 | €6,946 | ▼ 85.5% |
| Amounts payable17/49 | €20,565 | €21,614 | €20,794 | €29,946 | €74,946 | ▲ 150% |
| Amounts payable within one year42/48 | €20,565 | €21,614 | €20,794 | €29,946 | €74,946 | ▲ 150% |
| Trade debts44 | €4,349 | €2,857 | €5,172 | €2,289 | €923 | ▼ 59.7% |
| Suppliers440/4 | €4,349 | €2,857 | €5,172 | €2,289 | €923 | ▼ 59.7% |
| Taxes, remuneration and social security45 | €2,922 | €4,163 | €1,382 | €21,672 | €17,398 | ▼ 19.7% |
| Taxes450/3 | €2,922 | €4,163 | €1,382 | €21,672 | €17,398 | ▼ 19.7% |
| Other amounts payable47/48 | €13,294 | €14,594 | €14,239 | €5,985 | €56,626 | ▲ 846% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,207 | €3,557 | -€4,138 | €61,288 | €61,486 | ▲ 0.3% |
| + Depreciation and write-downs630 | €865 | €1,071 | €1,542 | €2,064 | €1,310 | ▼ 36.5% |
| Operating cash flow (approximation) | -€342 | €4,628 | -€2,595 | €63,352 | €62,796 | ▼ 0.9% |
| Investment in fixed assets (approximation) | - | -€2,069 | -€1,181 | -€3,445 | -€801 | ▲ 76.8% |
| Change in cash | - | €4,437 | -€5,363 | €72,268 | €15,681 | ▼ 78.3% |
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
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €61,486 ▲0.3%
Net result €61,486, the highest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Back to profitnet €61,288
Net result €61,288 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 2.75
Current ratio from 0.65 to 2.75.
17-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 78 days late
2023
25-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 117 days late
2022
31-12
Financial
Back to profitnet €3,557
Net result €3,557 after 4 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
31-12
Financial
Weakest financial yearnet -€6,829
Net result drops to -€6,829, the lowest in the series; recovery starts the following year.
12-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 73 days late
Show earlier events
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Merelbeke-Melle · 1 establishment unit since 2014
Ground area
902 m²
Building footprint
164 m²
Volume, LiDAR
999 m³
Parcel 44058B0404/00L000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
ECONAD
since 20142.226.857.605
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44058B0404/00L000 | Flanders | 902 m² | 1 · 164 m² | 8.7 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
2023 to 2025 · 3 entries · 383 EUR awarded · 383 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 102 EUR |
| 2024 | 1 | 305 EUR | 203 EUR |
| 2023 | 1 | 78 EUR | 78 EUR |
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Of 2,147 companies in sector 71209 we hold annual accounts for 1,087. 707 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 (pre-2019)
Founded21-01-2014
Fiscal year end31-12
Activities, NACEBEL 2025
71209Other technical testing and analysis
E-invoicing
Reachable via Peppol
Peppol ID
0208:0544853849
Also
9925:BE0544853849
Registered
10-06-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.