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.
Credit check for your own amount and term
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)
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
2018: €217k
2019: €48k▼ -77.7% vs 2018
2020: €521k▲ +975% vs 2019
2021: €352k▼ -32.3% vs 2020
2022: €-133k▼ -138% vs 2021lowest in 7 years
2023: €523k▲ +495% vs 2022highest in 7 years
2024: €471k▼ -9.9% vs 2023
2018 → 2024
Working capital
€345k
2023 · €-227k
2018: €-84k
2019: €-134k▼ -59.1% vs 2018
2020: €-411k▼ -207% vs 2019
2021: €-643k▼ -56.6% vs 2020
2022: €-710k▼ -10.4% vs 2021lowest in 7 years
2023: €-227k▲ +68.0% vs 2022
2024: €345k▲ +252% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€133k-€485k▲ 265%€353k▼ 27.3%€876k▲ 148%€1.35M▲ 53.8%
2020: €133klowest in 5 years
2021: €485k▲ +265% vs 2020
2022: €353k▼ -27.3% vs 2021
2023: €876k▲ +148% vs 2022
2024: €1.35M▲ +53.8% vs 2023highest in 5 years
Operating result€749k-€456k▼ 39.1%€-21k€849k€780k▼ 8.1%
2020: €749k
2021: €456k▼ -39.1% vs 2020
2022: €-21k▼ -105% vs 2021lowest in 5 years
2023: €849k▲ +4171% vs 2022highest in 5 years
2024: €780k▼ -8.1% vs 2023
Net result€521k-€352k▼ 32.3%€-133k€523k€471k▼ 9.9%
2020: €521k
2021: €352k▼ -32.3% vs 2020
2022: €-133k▼ -138% vs 2021lowest in 5 years
2023: €523k▲ +495% vs 2022highest in 5 years
2024: €471k▼ -9.9% vs 2023
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.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 64 lines
Balance sheet
Code20232024
Assets
Total assets20/58€5.02M€5.19M▲
Formation expenses20€1k-
Fixed assets21/28€2.38M€2.29M▼
Tangible fixed assets22/27€2.37M€2.29M▼
Land and buildings22€1.33M€1.27M▼
Plant, machinery and equipment23€556k€690k▲
Furniture and vehicles24€483k€329k▼
Financial fixed assets28€10k€202▼
Current assets29/58€2.63M€2.90M▲
Stocks and contracts in progress3€614k€722k▲
Stocks30/36€614k€722k▲
Amounts receivable within one year40/41€352k€565k▲
Trade receivables40€199k€437k▲
Other amounts receivable41€153k€127k▼
Cash at bank and in hand54/58€1.64M€1.59M▼
Deferred charges and accrued income490/1€27k€25k▼
Equity and liabilities
Total equity and liabilities10/49€5.02M€5.19M▲
Equity10/15€876k€1.35M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€946k€946k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€5k€5k=
Distributable reserves133€936k€936k=
Profit (loss) carried forward14€-133k€339k▲
Amounts payable17/49€4.14M€3.85M▼
Amounts payable after more than one year17€1.24M€1.26M▲
Financial debts170/4€1.23M€1.26M▲
Other amounts payable178/9€4k€4k=
Amounts payable within one year42/48€2.86M€2.56M▼
Current portion of amounts payable after more than one year42€377k€448k▲
Financial debts43€159k€139k▼
Credit institutions430/8€159k€139k▼
Trade debts44€1.66M€1.28M▼
Suppliers440/4€1.66M€1.28M▼
Taxes, remuneration and social security45€354k€415k▲
Taxes450/3€193k€203k▲
Remuneration and social security454/9€161k€213k▲
Other amounts payable47/48€307k€279k▼
Accrued charges and deferred income492/3€43k€25k▼
Income statement
Code20232024
Non-recurring operating income76A€1k€6k▲
Remuneration, social security and pensions62€1.41M€1.50M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€450k€460k▲
Other operating charges640/8€55k€90k▲
Non-recurring operating charges66A€4k€9k▲
Gross operating margin9900€2.77M€2.84M▲
Operating profit (loss)9901€849k€780k▼
Financial income75/76B€705€27k▲
Recurring financial income75€705€14k▲
Non-recurring financial income76B-€14k
Financial charges65/66B€136k€168k▲
Recurring financial charges65€125k€157k▲
Non-recurring financial charges66B€10k€11k▲
Profit (loss) for the period before taxes9903€714k€639k▼
Income taxes67/77€191k€168k▼
Profit (loss) for the period9904€523k€471k▼
Profit (loss) for the period to be appropriated9905€523k€471k▼
Appropriation of the result
Profit (loss) to be appropriated9906€390k€339k▼
Profit (loss) brought forward from the previous period14P€-133k€-133k=
Transfer to equity691/2€523k-
To other reserves6921€523k-
Social balance
Average headcount (FTE)908733.335.9▲
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| 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 10,510 companies in sector 47110 we hold annual accounts for 5,851. 1,919 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.