ECOO
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 10 filings
Amounts without an identifiable currency are taken as euros.
Turnover
€10.1m▼ 0.2%
2024 · €10.2m
EBIT margin
7.6%▲ 3.0pp
2024 · 4.6%
Net result
€620,841▲ 119%
2024 · €283,237
Working capital
€1.8m▲ 253%
2024 · €509,061
In the rankings
#10 company by staff growth in Limburg, Water and waste sector
Multi-year overview
2018 to 2025, 7 financial yearsTurnover
€10.1m
▼ 0.2%
2025
20182025
Operating result
€770,537
▲ 63.5%
2025
20182025
Net result
€620,841
▲ 119%
2025
middle half of the sector
20182025
EBIT margin
7.6%
▲ 3.0pp
2025
20182025
Equity
€2.2m
▲ 38.9%
2025
middle half of the sector
20182025
Total assets
€8.2m
▲ 4.7%
2025
middle half of the sector
20182025
Debt
€6.0m
▼ 4.0%
2025
20182025
Working capital
€1.8m
▲ 253%
2025
middle half of the sector
20182025
Solvency
27.0%
▲ 6.6pp
2025
middle half of the sector
20182025
Current ratio
1.67
▲ 0.50
2025
middle half of the sector
20182025
Return on assets (ROA)
7.6%
▲ 3.9pp
2025
middle half of the sector
20182025
Staff (FTE)
34.7
▲ 6.1%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018202020212022202320242025
Turnover€9.7m-€11.4m▲ 17.1%€12.0m▲ 5.8%€10.7m▼ 10.6%€10.2m▼ 5.5%€10.1m▼ 0.2%
Operating result€0.05m-€0.4m-€1.1m▲ 163%-€1.7m€0.1m€0.5m▲ 232%€0.8m▲ 63.5%
Net result€0.03m-€0.3mwithin the sector's middle half-€0.8mwithin the sector's middle half▲ 172%-€1.8mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 92.4%€0.3mwithin the sector's middle half€0.6mwithin the sector's middle half▲ 119%
EBIT margin4.2%-9.5%▲ 5.3pp-14.1%▼ 23.6pp1.3%▲ 15.4pp4.6%▲ 3.3pp7.6%▲ 3.0pp
Equity€0.8m-€1.9mwithin the sector's middle half-€3.2mwithin the sector's middle half▲ 70.8%€1.4mwithin the sector's middle half▼ 54.9%€1.3mwithin the sector's middle half▼ 9.2%€1.6mwithin the sector's middle half▲ 21.5%€2.2mwithin the sector's middle half▲ 38.9%
Total assets€4.3m-€4.3mwithin the sector's middle half-€8.2mwithin the sector's middle half▲ 87.7%€6.8mwithin the sector's middle half▼ 16.6%€7.5mwithin the sector's middle half▲ 10.6%€7.8mwithin the sector's middle half▲ 4.3%€8.2mwithin the sector's middle half▲ 4.7%
Debt€3.5m-€2.5m-€4.9m▲ 101%€5.4m▲ 8.3%€6.2m▲ 15.9%€6.2m▲ 0.6%€6.0m▼ 4.0%
Working capital€0.5m-€0.3mwithin the sector's middle half--€2.8mbelow the sector's middle half-€2.1mbelow the sector's middle half▲ 24.9%€0.5mwithin the sector's middle half€0.5mwithin the sector's middle half▲ 11.8%€1.8mwithin the sector's middle half▲ 253%
Solvency19.3%-43.3%within the sector's middle half-39.4%within the sector's middle half▼ 3.9pp21.3%within the sector's middle half▼ 18.1pp17.5%below the sector's middle half▼ 3.8pp20.4%below the sector's middle half▲ 2.9pp27.0%within the sector's middle half▲ 6.6pp
Current ratio1.14-1.14within the sector's middle half-0.42below the sector's middle half▼ 0.710.53below the sector's middle half▲ 0.111.17within the sector's middle half▲ 0.641.17within the sector's middle half=1.67within the sector's middle half▲ 0.50
Return on assets (ROA)0.6%-6.9%within the sector's middle half-10.0%within the sector's middle half▲ 3.1pp-25.9%below the sector's middle half▼ 35.9pp-1.8%below the sector's middle half▲ 24.1pp3.6%within the sector's middle half▲ 5.4pp7.6%within the sector's middle half▲ 3.9pp
Staff (FTE)2.9-2.8below the sector's middle half-4.3below the sector's middle half▲ 53.6%28within the sector's middle half▲ 551%32.4within the sector's middle half▲ 15.7%32.7within the sector's middle half▲ 0.9%34.7within the sector's middle half▲ 6.1%
above
within
below
The sector band is the middle half of the companies in Waste collection, recovery and disposal activities (NACE 38). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 63% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.2m
Fixed assets
€3.7m ▼ 13.5%
Current assets
€4.5m ▲ 27.3%
Equity and liabilities €8.2m
Equity
€2.2m ▲ 38.9%
Debt
€6.0m ▼ 4.0%
Debt's share of the balance-sheet total falls from 79.6% to 73.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.4m▲
2024 · €2.0m
Cash flow
€2.2m▲
2024 · €1.8m
Quick ratio
1.10▲
2024 · 0.62
Debt to equity
2.70▼
2024 · 3.91
ROE
28.0%▲
2024 · 17.7%
Interest coverage
18.46▲
2024 · 12.41
Debt ≤ 1 year
€2.7m▼
2024 · €3.0m
Debt > 1 year
€3.0m▼
2024 · €3.0m
Income taxes
€1,109▼
2024 · €6,254
Customer credit
31 days▼
2024 · 40 days
Supplier credit
31 days▲
2024 · 28 days
Staff costs
€2.6m▲
2024 · €2.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 30 | 33 | 35 | 38 |
| full-time | 5 | 25 | 29 | 29 | 31 |
| part-time | 3 | 5 | 4 | 6 | 7 |
| in full-time equivalents | 6.8 | 28 | 31.2 | 32.9 | 35.8 |
| Average over the year, in full-time equivalents | 4.3 | 25 | 32.4 | 32.7 | 34.7 |
| On a permanent contract | 8 | 30 | 33 | 35 | 38 |
| Joined | 4 | 27 | 9 | 7 | 7 |
| Left | 0 | 5 | 6 | 5 | 4 |
| Agency workers, average number | 5.4 | 11 | - | - | - |
| Training hours | - | 41 | 163 | 740 | 270 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | - | - | €6,447 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Guarantees given for others' debts | - | - | €0 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5.4m | €2.3m | €1.2m | €1.4m | €1.0m |
| Intangible fixed assets | €27,785 | €42,940 | €48,176 | €17,835 | €14,400 |
| Depreciation and write-downs of the year | €1.1m | €1.4m | €1.3m | €1.5m | €1.6m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €45,132 awarded · €30,421 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €3,104 | €16,039 |
| 2024 | 2 | €30,471 | €2,825 |
| 2023 | 2 | €10,639 | €10,639 |
| 2022 | 1 | €918 | €918 |
Public contracts
4 awards · 2018 to 2025
Het leveren van compostvaten en compostbakken: compostbakken
Groepsaankoop raamovereenkomst leveren van compostbakken voor thuiscompostering: IOK_2024_leveren compostbakken - 1
Raamovereenkomst voor de levering van compostvaten, beluchtingsstokken en compostbakken: Leveren van compostbakken en aanbouwmodules
Levering van compostvaten en -bakken
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €11.4m | €12.2m | €11.1m | €10.3m | €10.3m | ▲ 0.1% |
| Turnover70 | - | €9.7m | €11.4m | €12.0m | €10.7m | €10.2m | €10.1m | ▼ 0.2% |
| Other operating income74 | - | - | €0.04m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 19.8% |
| Non-recurring operating income76A | - | - | - | €0.01m | €0.2m | €0.001m | €0.008m | ▲ 570% |
| Operating charges60/66A | - | - | €10.3m | €13.9m | €11.0m | €9.8m | €9.5m | ▼ 2.9% |
| Goods for resale, raw materials and consumables60 | - | - | €3.8m | €2.6m | €1.6m | €1.3m | €1.6m | ▲ 20.1% |
| Purchases600/8 | - | - | €3.2m | €3.0m | €2.1m | €1.4m | €1.4m | ▲ 3.5% |
| Change in stocks: decrease (increase)609 | - | - | €0.6m | -€0.4m | -€0.5m | -€0.09m | €0.1m | - |
| Services and other goods61 | - | - | €5.1m | €8.3m | €5.8m | €4.5m | €3.7m | ▼ 18.3% |
| Remuneration, social security and pensions62 | - | - | €0.3m | €1.6m | €2.3m | €2.4m | €2.6m | ▲ 5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.5m | €1.1m | €1.4m | €1.3m | €1.5m | €1.6m | ▲ 8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.007m | €0.008m | ▲ 10.3% |
| Other operating charges640/8 | - | - | €0.04m | €0.03m | €0.08m | €0.09m | €0.09m | ▲ 5.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €463 | €0.003m | ▲ 633% |
| Gross operating margin9900 | €0.4m | - | - | - | - | - | - | - |
| Operating profit (loss)9901 | €0.05m | €0.4m | €1.1m | -€1.7m | €0.1m | €0.5m | €0.8m | ▲ 63.5% |
| Financial income75/76B | - | - | €0.007m | €0.001m | €0.004m | €142 | €1 | ▼ 99.1% |
| Recurring financial income75 | €0.001m | €263 | €0.007m | €0.001m | €0.004m | €142 | €1 | ▼ 99.1% |
| Income from financial fixed assets750 | - | - | €0.003m | - | - | - | - | - |
| Other financial income752/9 | - | - | €0.004m | €0.001m | €0.004m | €142 | €1 | ▼ 99.1% |
| Financial charges65/66B | - | - | €0.04m | €0.06m | €0.2m | €0.2m | €0.1m | ▼ 18.3% |
| Recurring financial charges65 | €0.02m | €0.04m | €0.04m | €0.06m | €0.2m | €0.2m | €0.1m | ▼ 18.3% |
| Debt charges650 | - | €0.006m | €0.002m | €0.04m | €0.02m | €0.2m | €0.1m | ▼ 18.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €0.2m | €0 | - | - |
| Other financial charges652/9 | - | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 17.5% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.4m | €1.1m | -€1.8m | -€0.06m | €0.3m | €0.6m | ▲ 115% |
| Income taxes67/77 | €0.007m | €0.07m | €0.2m | €0.005m | €0.08m | €0.006m | €0.001m | ▼ 82.3% |
| Taxes670/3 | - | - | €0.2m | €0.005m | €0.08m | €0.006m | €0.001m | ▼ 82.3% |
| Profit (loss) for the period9904 | €0.03m | €0.3m | €0.8m | -€1.8m | -€0.1m | €0.3m | €0.6m | ▲ 119% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.2m | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.03m | €0.3m | €0.8m | -€1.8m | €0.04m | €0.3m | €0.6m | ▲ 119% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.3m | €4.3m | €8.2m | €6.8m | €7.5m | €7.8m | €8.2m | ▲ 4.7% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €0.4m | €1.7m | €6.1m | €4.4m | €4.4m | €4.3m | €3.7m | ▼ 13.5% |
| Intangible fixed assets21 | €0.1m | €0.09m | €0.07m | €0.07m | €0.06m | €0.04m | €0.03m | ▼ 37.0% |
| Tangible fixed assets22/27 | €0.2m | €1.6m | €6.0m | €4.3m | €4.3m | €4.3m | €3.7m | ▼ 13.3% |
| Land and buildings22 | - | - | - | €0.07m | €0.1m | €0.09m | €0.1m | ▲ 23.4% |
| Plant, machinery and equipment23 | - | - | €5.7m | €3.8m | €3.2m | €3.3m | €2.8m | ▼ 13.9% |
| Furniture and vehicles24 | - | - | €0.2m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 24.1% |
| Other tangible fixed assets26 | - | - | €0.1m | €0.09m | €0.7m | €0.7m | €0.6m | ▼ 11.5% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - |
| Current assets29/58 | €4.0m | €2.6m | €2.1m | €2.4m | €3.1m | €3.5m | €4.5m | ▲ 27.3% |
| Stocks and contracts in progress3 | €1.9m | €1.2m | €0.6m | €1.0m | €1.6m | €1.7m | €1.5m | ▼ 7.4% |
| Stocks30/36 | - | - | €0.6m | €1.0m | €1.6m | €1.7m | €1.5m | ▼ 7.4% |
| Goods purchased for resale34 | - | - | €0.6m | €1.0m | €1.6m | €1.7m | €1.5m | ▼ 7.4% |
| Amounts receivable within one year40/41 | €1.9m | €1.2m | €1.1m | €1.2m | €1.1m | €1.2m | €1.0m | ▼ 13.3% |
| Trade receivables40 | - | - | €0.6m | €1.0m | €0.8m | €1.1m | €0.9m | ▼ 22.3% |
| Other amounts receivable41 | - | - | €0.5m | €0.1m | €0.4m | €0.08m | €0.2m | ▲ 111% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.4m | €0.2m | €0.4m | €0.6m | €1.8m | ▲ 191% |
| Deferred charges and accrued income490/1 | - | - | €0.02m | €0.04m | €0.02m | €0.05m | €0.09m | ▲ 106% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.3m | €4.3m | €8.2m | €6.8m | €7.5m | €7.8m | €8.2m | ▲ 4.7% |
| Equity10/15 | €0.8m | €1.9m | €3.2m | €1.4m | €1.3m | €1.6m | €2.2m | ▲ 38.9% |
| Contributions10/11 | €0.5m | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €0.02m | €0.2m | €0.2m | €0.2m | €0.04m | €0.04m | €0.04m | = |
| Non-distributable reserves130/1 | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Reserves not available under the articles1311 | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Tax-exempt reserves132 | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Profit (loss) carried forward14 | €0.3m | €0.8m | €2.1m | €0.3m | €0.4m | €0.7m | €1.3m | ▲ 94.3% |
| Amounts payable17/49 | €3.5m | €2.5m | €4.9m | €5.4m | €6.2m | €6.2m | €6.0m | ▼ 4.0% |
| Amounts payable after more than one year17 | €0.005m | €0.2m | - | €0.8m | €3.4m | €3.0m | €3.0m | ▼ 0.3% |
| Financial debts170/4 | - | - | - | €0.8m | €0.4m | €0.008m | €0 | ▼ 100% |
| Credit institutions173 | - | - | - | €0.8m | €0.4m | €0.008m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | - | €3.0m | €3.0m | €3.0m | = |
| Amounts payable within one year42/48 | €3.5m | €2.3m | €4.9m | €4.6m | €2.7m | €3.0m | €2.7m | ▼ 10.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.8m | €0.4m | €0.008m | ▼ 98.0% |
| Trade debts44 | €1.0m | €1.1m | €1.1m | €1.3m | €0.8m | €0.4m | €0.4m | ▼ 0.3% |
| Suppliers440/4 | - | - | €1.1m | €1.3m | €0.8m | €0.4m | €0.4m | ▼ 0.3% |
| Taxes, remuneration and social security45 | - | - | €0.1m | €0.4m | €0.4m | €0.3m | €0.4m | ▲ 17.1% |
| Taxes450/3 | - | - | €0.06m | €0.06m | €0.07m | €0.06m | €0.05m | ▼ 9.3% |
| Remuneration and social security454/9 | - | - | €0.05m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 22.6% |
| Other amounts payable47/48 | - | - | €3.8m | €2.4m | €0.6m | €1.8m | €1.8m | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.1m | €0.2m | €0.3m | ▲ 37.6% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.03m | €0.3m | €0.8m | -€1.8m | -€0.1m | €0.3m | €0.6m | ▲ 119% |
| + Depreciation and write-downs630 | €0.1m | €0.5m | €1.1m | €1.4m | €1.3m | €1.5m | €1.6m | ▲ 8.0% |
| Operating cash flow (approximation) | €0.2m | €0.8m | €1.9m | -€0.4m | €1.1m | €1.8m | €2.2m | ▲ 25.7% |
| Investment in fixed assets (approximation) | - | - | -€5.4m | €0.3m | -€1.3m | -€1.5m | -€1.0m | ▲ 29.1% |
| Change in cash | - | - | €0.1m | -€0.1m | €0.2m | €0.2m | €1.2m | ▲ 472% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,609 companies had the same profile as ECOO has now. Two years later, 96.8% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
96.8%
was still going
2.1%
stopped otherwise
1.0%
went bankrupt
That fits the bankruptcy probability of ECOO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,609 companies, not a prediction for ECOO. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 03-07-2026 | 2026-00250677 | |
| 31-12-2024 | full format | 13-08-2025 | 2025-00374168 | |
| 31-12-2023 | full format | 31-07-2024 | 2024-00331460 | |
| 31-12-2022 | full format | 13-06-2023 | 2023-00127130 | |
| 31-12-2021 | full format | 28-06-2022 | 2022-20114441 | |
| 31-12-2020 | full format | 29-08-2021 | 2021-57000198 | |
| 31-12-2019 | abbreviated format | 22-07-2020 | 2020-34600252 | |
| 31-12-2018 | abbreviated format | 09-08-2019 | 2019-45300232 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-58800375 | |
| 31-12-2016 | abbreviated format | 10-07-2017 | 2017-29500161 |