ECONAN
ActiveSummary
ECONAN has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.35M and a net result of €471k. Equity is growing by ~62.2% per year across the filed fiscal years. Its solvency ranks better than 41% of 6537 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▼-2
Solvency51▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days only on tighter terms
Liquidity tight (current ratio 1.13 against 0.92 in 2023; short-term debt: 49.3% and cash: 30.6% of total assets), and 74.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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 2024Solvency, return and age of the figures
Solvency
25.9%
Return on assets
9.1%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-11-2025, 101 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
101 d late
2023
31 d late
2022
5 d early
2021
29 d late
2020
30 d late
2019
29 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€471k▼ 9.9%
2023 · €523k
Working capital
€345k
2023 · €-227k
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€749k▲ 563%€456k▼ 39.1%€-21k€849k€780k▼ 8.1%
Net result€521k▲ 975%€352k▼ 32.3%€-133k€523k€471k▼ 9.9%
Equity€133k€485k▲ 265%€353k▼ 27.3%€876k▲ 148%€1.35M▲ 53.8%
Total assets€2.60M▲ 21.7%€5.01M▲ 92.6%€4.39M▼ 12.3%€5.02M▲ 14.3%€5.19M▲ 3.6%
Debt€2.47M▲ 15.3%€4.52M▲ 83.3%€4.04M▼ 10.7%€4.14M▲ 2.5%€3.85M▼ 7.1%
Working capital€-411k▼ 207%€-643k▼ 56.6%€-710k▼ 10.4%€-227k▲ 68.0%€345k
Staff (FTE)23.6▼ 1.3%32.2▲ 36.4%32.1▼ 0.3%33.3▲ 3.7%35.9▲ 7.8%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 8% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.19M
Fixed assets
€2.29M ▼ 3.8%
Current assets
€2.90M ▲ 10.3%
Equity and liabilities €5.19M
Equity
€1.35M ▲ 53.8%
Debt
€3.85M ▼ 7.1%
Debt's share of the balance-sheet total falls from 82.5% to 74.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.24M▼
2023 · €1.30M
Cash flow
€931k▼
2023 · €973k
Current ratio
1.13▲
2023 · 0.92
Quick ratio
0.85▲
2023 · 0.71
Debt to equity
2.86▼
2023 · 4.73
ROE
35.0%▼
2023 · 59.7%
ROA
9.1%▼
2023 · 10.4%
Interest coverage
7.89▼
2023 · 10.38
Debt ≤ 1 year
€2.56M▼
2023 · €2.86M
Debt > 1 year
€1.26M▲
2023 · €1.24M
Income taxes
€168k▼
2023 · €191k
Staff costs
€1.50M▲
2023 · €1.41M
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 | - | - | €22k | €1k | €6k | ▲ 469% |
| Remuneration, social security and pensions62 | - | €1.02M | €1.26M | €1.41M | €1.50M | ▲ 6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €146k | €292k | €505k | €450k | €460k | ▲ 2.3% |
| Other operating charges640/8 | - | €42k | €56k | €55k | €90k | ▲ 63.3% |
| Non-recurring operating charges66A | - | €12k | €10k | €4k | €9k | ▲ 110% |
| Gross operating margin9900 | €1.74M | €1.82M | €1.81M | €2.77M | €2.84M | ▲ 2.6% |
| Operating profit (loss)9901 | €749k | €456k | €-21k | €849k | €780k | ▼ 8.1% |
| Financial income75/76B | - | €1k | €223 | €705 | €27k | ▲ 3,771% |
| Recurring financial income75 | €13k | €1k | €223 | €705 | €14k | ▲ 1,830% |
| Non-recurring financial income76B | - | - | - | - | €14k | - |
| Financial charges65/66B | - | €76k | €111k | €136k | €168k | ▲ 24.2% |
| Recurring financial charges65 | €72k | €76k | €107k | €125k | €157k | ▲ 25.6% |
| Non-recurring financial charges66B | - | - | €4k | €10k | €11k | ▲ 7.8% |
| Profit (loss) for the period before taxes9903 | €689k | €381k | €-132k | €714k | €639k | ▼ 10.5% |
| Income taxes67/77 | €168k | €28k | €856 | €191k | €168k | ▼ 12.2% |
| Profit (loss) for the period9904 | €521k | €352k | €-133k | €523k | €471k | ▼ 9.9% |
| Profit (loss) for the period to be appropriated9905 | €521k | €352k | €-133k | €523k | €471k | ▼ 9.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.60M | €5.01M | €4.39M | €5.02M | €5.19M | ▲ 3.6% |
| Formation expenses20 | - | €64k | - | €1k | - | - |
| Fixed assets21/28 | €1.25M | €3.08M | €2.74M | €2.38M | €2.29M | ▼ 3.8% |
| Tangible fixed assets22/27 | €1.25M | €3.08M | €2.74M | €2.37M | €2.29M | ▼ 3.4% |
| Land and buildings22 | - | €1.51M | €1.45M | €1.33M | €1.27M | ▼ 4.7% |
| Plant, machinery and equipment23 | - | €751k | €661k | €556k | €690k | ▲ 24.2% |
| Furniture and vehicles24 | - | €815k | €635k | €483k | €329k | ▼ 31.8% |
| Financial fixed assets28 | €2k | €202 | €202 | €10k | €202 | ▼ 97.9% |
| Current assets29/58 | €1.35M | €1.86M | €1.65M | €2.63M | €2.90M | ▲ 10.3% |
| Stocks and contracts in progress3 | €427k | €528k | €560k | €614k | €722k | ▲ 17.6% |
| Stocks30/36 | - | €528k | €560k | €614k | €722k | ▲ 17.6% |
| Amounts receivable within one year40/41 | €215k | €734k | €510k | €352k | €565k | ▲ 60.3% |
| Trade receivables40 | - | €309k | €240k | €199k | €437k | ▲ 120% |
| Other amounts receivable41 | - | €425k | €270k | €153k | €127k | ▼ 16.9% |
| Cash at bank and in hand54/58 | €679k | €581k | €545k | €1.64M | €1.59M | ▼ 2.9% |
| Deferred charges and accrued income490/1 | - | €21k | €32k | €27k | €25k | ▼ 6.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.60M | €5.01M | €4.39M | €5.02M | €5.19M | ▲ 3.6% |
| Equity10/15 | €133k | €485k | €353k | €876k | €1.35M | ▲ 53.8% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €71k | €423k | €423k | €946k | €946k | = |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | €5k | €5k | €5k | €5k | = |
| Distributable reserves133 | - | €413k | €413k | €936k | €936k | = |
| Profit (loss) carried forward14 | €-120k | - | €-133k | €-133k | €339k | ▲ 355% |
| Amounts payable17/49 | €2.47M | €4.52M | €4.04M | €4.14M | €3.85M | ▼ 7.1% |
| Amounts payable after more than one year17 | €706k | €1.96M | €1.58M | €1.24M | €1.26M | ▲ 2.2% |
| Financial debts170/4 | - | €1.77M | €1.50M | €1.23M | €1.26M | ▲ 2.2% |
| Trade debts175 | - | €186k | €75k | - | - | - |
| Other amounts payable178/9 | - | €4k | €4k | €4k | €4k | = |
| Amounts payable within one year42/48 | €1.76M | €2.51M | €2.36M | €2.86M | €2.56M | ▼ 10.6% |
| Current portion of amounts payable after more than one year42 | - | €529k | €479k | €377k | €448k | ▲ 18.9% |
| Financial debts43 | - | €420k | €252k | €159k | €139k | ▼ 12.7% |
| Credit institutions430/8 | - | €420k | €252k | €159k | €139k | ▼ 12.7% |
| Trade debts44 | €1.01M | €1.41M | €1.14M | €1.66M | €1.28M | ▼ 23.2% |
| Suppliers440/4 | - | €1.41M | €1.14M | €1.66M | €1.28M | ▼ 23.2% |
| Taxes, remuneration and social security45 | - | €150k | €137k | €354k | €415k | ▲ 17.3% |
| Taxes450/3 | - | €28k | €856 | €193k | €203k | ▲ 5.2% |
| Remuneration and social security454/9 | - | €122k | €136k | €161k | €213k | ▲ 31.7% |
| Other amounts payable47/48 | - | - | €347k | €307k | €279k | ▼ 9.2% |
| Accrued charges and deferred income492/3 | - | €51k | €100k | €43k | €25k | ▼ 41.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €521k | €352k | €-133k | €523k | €471k | ▼ 9.9% |
| + Depreciation and write-downs630 | €146k | €292k | €505k | €450k | €460k | ▲ 2.3% |
| Operating cash flow (approximation) | €667k | €645k | €372k | €973k | €931k | ▼ 4.3% |
| Investment in fixed assets (approximation) | - | €-2.12M | €-168k | €-89k | €-369k | ▼ 313% |
| Change in cash | - | €-98k | €-36k | €1.10M | €-48k | ▼ 104% |
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
2025
09-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 101 days late
2024
31-12
Financial
Equity above €1MEq €1.35M ▲53.8%
2 profitable years in a row build equity to €1.35M.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Back to profitnet €523k
Net result €523k after one loss-making year.
31-12
Financial
Equity above €500kEq €876k ▲148%
Equity rises from €353k to €876k.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-133k
Net result drops to €-133k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-12
Financial
Equity above €200kEq €485k ▲265%
4 profitable years in a row build equity to €485k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-12
Financial
Equity above €100kEq €133k
3 profitable years in a row build equity to €133k.
29-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
Show earlier events
2019
12-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
04-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Nandrin · 1 establishment unit since 1998
Ground area
4,633 m²
Building footprint
2,117 m²
Parcel 61043B0017/00Z000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Route du Condroz 318, 4550 Nandrin
since 19982.087.782.171
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61043B0017/00Z000 | Wallonia | 4,633 m² | 1 · 2,117 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNandrin2.087.782.171
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,849. 1,921 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-07-1998
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.