Ecorus Invest III
ActiveSummary
Ecorus Invest III has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €506k and a net result of €53k. Equity is growing by ~20.3% per year across the filed fiscal years. Its solvency ranks better than 62% of 279 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+2
Solvency72▲+7
Growth49=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.43 against 0.37 in 2024; short-term debt: 51.9% of total assets), and 52.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three 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 35
Relative position
BE, all sectors
reference
Sector 35
lower
← 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
47.1%
Return on assets
5%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 15-10-2025, 16 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
16 d early
2024
50 d late
2023
13 d early
2021
23 d early
2020
22 d early
2019
192 d late
2018
119 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€243k▲ 2.9%
2019 · €236k
2019: €236k
2019 → 2020
EBIT margin
44.1%▼ 22.2pp
2019 · 66.2%
2019: 66.2%
2019 → 2020
Net result
€53k▲ 51.8%
2024 · €35k
2018: €136k
2019: €109k
2020: €76k
2021: €95k
2023: €99k
2024: €35k
2018 → 2025
Working capital
€-316k▲ 15.7%
2024 · €-376k
2018: €-489k
2019: €-432k
2020: €-443k
2021: €-394k
2023: €-358k
2024: €-376k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€243k-
Equity€224k-€319k▲ 42.3%€417k▲ 31.0%€452k▲ 8.4%€506k▲ 11.8%
Operating result€107k-€139k▲ 30.3%€144k▲ 3.1%€52k▼ 63.7%€72k▲ 38.1%
Net result€76k-€95k▲ 25.1%€99k▲ 4.4%€35k▼ 64.5%€53k▲ 51.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 38% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.07M
Fixed assets
€832k ▼ 9.1%
Current assets
€241k ▲ 11.2%
Equity and liabilities €1.07M
Equity
€506k ▲ 11.8%
Debt
€568k ▼ 16.5%
Debt's share of the balance-sheet total falls from 60.0% to 52.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€155k▲
2024 · €136k
Cash flow
€137k▲
2024 · €118k
Current ratio
0.43▲
2024 · 0.37
Debt to equity
1.12▼
2024 · 1.50
ROE
10.5%▲
2024 · 7.7%
ROA
5.0%▲
2024 · 3.1%
Interest coverage
48.19▲
2024 · 23.12
Debt ≤ 1 year
€557k▼
2024 · €592k
Debt > 1 year
€10k▼
2024 · €88k
Income taxes
€18k▲
2024 · €11k
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 · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.13M€1.07M▼
Fixed assets21/28€916k€832k▼
Tangible fixed assets22/27€878k€794k▼
Plant, machinery and equipment23€878k€794k▼
Other tangible fixed assets26€0-
Financial fixed assets28€38k€38k▲
Current assets29/58€217k€241k▲
Amounts receivable within one year40/41€197k€241k▲
Trade receivables40€181k€178k▼
Other amounts receivable41€15k€63k▲
Cash at bank and in hand54/58€20k-
Equity and liabilities
Total equity and liabilities10/49€1.13M€1.07M▼
Equity10/15€452k€506k▲
Contributions10/11€19k€19k=
Capital10-€19k
Issued capital100-€19k
Reserves13€20k€20k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130-€2k
Reserves not available under the articles1311€2k-
Distributable reserves133€18k€18k=
Profit (loss) carried forward14€414k€467k▲
Provisions and deferred taxes16€0-
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Amounts payable17/49€680k€568k▼
Amounts payable after more than one year17€88k€10k▼
Financial debts170/4€88k€10k▼
Amounts payable within one year42/48€592k€557k▼
Current portion of amounts payable after more than one year42€134k€77k▼
Trade debts44€88k€92k▲
Suppliers440/4€88k€92k▲
Taxes, remuneration and social security45-€18k
Taxes450/3-€18k
Other amounts payable47/48€370k€370k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€83k€83k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€-2k-
Other operating charges640/8€1k€982▼
Gross operating margin9900€135k€156k▲
Operating profit (loss)9901€52k€72k▲
Financial income75/76B€133€2k▲
Recurring financial income75€133€2k▲
Financial charges65/66B€6k€3k▼
Recurring financial charges65€6k€3k▼
Profit (loss) for the period before taxes9903€46k€71k▲
Income taxes67/77€11k€18k▲
Profit (loss) for the period9904€35k€53k▲
Profit (loss) for the period to be appropriated9905€35k€53k▲
Appropriation of the result
Profit (loss) to be appropriated9906€414k€467k▲
Profit (loss) brought forward from the previous period14P€379k€414k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-09
State Gazette act
Restructuring · MiscellaneousMerger · Accounting effect8 facts ▸
State Gazette act
Restructuring · Miscellaneous
Merger · Accounting effect8 facts ▸
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Merger, Fusie door opslorping zonder uitgifte van nieuwe aandelen, absorption
- Accounting effect, 01-04-2026
2025
15-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Equity above €500kEq €506k ▲11.8%
7 profitable years in a row build equity to €506k.
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 50 days late
31-03
Financial
Weakest financial yearnet €35k ▼64.5%
Net result drops to €35k, the lowest in the series; recovery starts the following year.
2023
18-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
08-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 192 days late
2020
31-12
Financial
Equity above €200kEq €224k ▲51.1%
3 profitable years in a row build equity to €224k.
2019
31-12
Financial
Equity above €100kEq €148k ▲439%
2 profitable years in a row build equity to €148k.
27-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 119 days late
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Poortakkerstraat 259051 GentGround area
1,151 m²
Building footprint
491 m²
Volume, LiDAR
4,306 m³
Parcel 44062A0306/00W000, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Ecorus Invest III
since 20192.287.815.868
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062A0306/00W000 | Flanders | 1,150 m² | 1 · 491 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Acquisitions and mergers
1 transactionTaken over by:Eneco Solar Belgium NV
Similar companies · same sector, comparable size
Joulz Sun4Business 4
BE 0791.706.674
Antwerpen · Eq €505k
BEMA
BE 0462.338.721
Oostende · Eq €504k
DuCoop
BE 0562.869.422
Gent · Eq €508k
VENT DE LA SILLE
BE 0779.617.506
Leuze-en-Hainaut · Eq €510k
ORKA LUMMEN
BE 0819.642.179
Londerzeel · Eq €511k
Of 815 companies in sector 35110 we hold annual accounts for 631. 431 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-05-2016
Fiscal year end31-03
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.