ECRN
ActiveSummary
ECRN has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59,552 and a net result of €74,308. Equity is growing by ~23.5% per year across the filed fiscal years. Its solvency ranks better than 26% of 1003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+4
Solvency50▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity tight (current ratio 1.15 against 1.4 in 2024; short-term debt: 75% and cash: 58.7% of total assets), and 75% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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 2025Solvency, return and age of the figures
Solvency
25%
Return on assets
31.2%
Age of the figures
15 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-12-2025, 31 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
31 d early
2024
18 d early
2023
9 d early
2022
34 d early
2021
5 d early
2020
40 d early
2019
4 d early
← 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 20 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
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 Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€59,552▼ 30.1%
2024 · €85,245
Total assets
€238,508▲ 1.6%
2024 · €234,661
Net result
€74,308▲ 43.6%
2024 · €51,729
Working capital
€26,487▼ 51.2%
2024 · €54,309
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€8,335▲ 91.4%€18,003▲ 116%€76,100▲ 323%€70,168▼ 7.8%€107,290▲ 52.9%
Net result€2,073€11,161▲ 438%€56,766▲ 409%€51,729▼ 8.9%€74,308▲ 43.6%
Equity€25,588▲ 8.8%€36,749▲ 43.6%€93,515▲ 154%€85,245▼ 8.8%€59,552▼ 30.1%
Total assets€93,033▼ 0.7%€86,080▼ 7.5%€149,617▲ 73.8%€234,661▲ 56.8%€238,508▲ 1.6%
Debt€67,445▼ 3.9%€49,331▼ 26.9%€56,102▲ 13.7%€149,416▲ 166%€178,956▲ 19.8%
Working capital€10,625▲ 523%€21,341▲ 101%€79,154▲ 271%€54,309▼ 31.4%€26,487▼ 51.2%
Staff (FTE)3.5▲ 289%1.6▼ 54.3%0.5▼ 68.8%2.5▲ 400%4.3▲ 72.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 53% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €238,508
Fixed assets
€33,066 ▼ 28.1%
Current assets
€205,443 ▲ 8.9%
Equity and liabilities €238,508
Equity
€59,552 ▼ 30.1%
Debt
€178,956 ▲ 19.8%
Debt's share of the balance-sheet total rises from 63.7% to 75.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€122,514▲
2024 · €85,011
Cash flow
€89,532▲
2024 · €66,572
Current ratio
1.15▼
2024 · 1.40
Debt to equity
3.01▲
2024 · 1.75
ROE
124.8%▲
2024 · 60.7%
ROA
31.2%▲
2024 · 22.0%
Interest coverage
43.69▲
2024 · 31.67
Debt ≤ 1 year
€178,956▲
2024 · €134,376
Income taxes
€30,213▲
2024 · €15,832
Staff costs
€245,858▲
2024 · €134,412
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
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 6,703 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €42,347 | - | €500 | - | - |
| Remuneration, social security and pensions62 | - | €50,445 | €24,025 | €134,412 | €245,858 | ▲ 82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,686 | €6,770 | €12,509 | €14,843 | €15,224 | ▲ 2.6% |
| Other operating charges640/8 | - | €9,738 | €2,191 | €3,483 | €5,155 | ▲ 48.0% |
| Non-recurring operating charges66A | - | €6,398 | - | - | - | - |
| Gross operating margin9900 | €179,813 | €91,354 | €114,824 | €222,905 | €373,527 | ▲ 67.6% |
| Operating profit (loss)9901 | €8,335 | €18,003 | €76,100 | €70,168 | €107,290 | ▲ 52.9% |
| Financial income75/76B | - | - | €0 | €78 | €35 | ▼ 55.2% |
| Recurring financial income75 | - | - | €0 | €78 | €35 | ▼ 55.2% |
| Financial charges65/66B | - | €3,115 | €3,512 | €2,685 | €2,804 | ▲ 4.4% |
| Recurring financial charges65 | €5,457 | €3,115 | €3,512 | €2,685 | €2,804 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | €2,878 | €14,888 | €72,589 | €67,562 | €104,521 | ▲ 54.7% |
| Income taxes67/77 | €804 | €3,727 | €15,822 | €15,832 | €30,213 | ▲ 90.8% |
| Profit (loss) for the period9904 | €2,073 | €11,161 | €56,766 | €51,729 | €74,308 | ▲ 43.6% |
| Profit (loss) for the period to be appropriated9905 | €2,073 | €11,161 | €56,766 | €51,729 | €74,308 | ▲ 43.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €93,033 | €86,080 | €149,617 | €234,661 | €238,508 | ▲ 1.6% |
| Fixed assets21/28 | €33,810 | €15,408 | €34,818 | €45,975 | €33,066 | ▼ 28.1% |
| Tangible fixed assets22/27 | €32,386 | €15,408 | €34,818 | €39,975 | €27,066 | ▼ 32.3% |
| Plant, machinery and equipment23 | - | - | €2,613 | €1,307 | - | - |
| Furniture and vehicles24 | - | €15,408 | €32,205 | €38,669 | €27,066 | ▼ 30.0% |
| Financial fixed assets28 | €1,424 | - | - | €6,000 | €6,000 | = |
| Current assets29/58 | €59,222 | €70,672 | €114,799 | €188,685 | €205,443 | ▲ 8.9% |
| Amounts receivable within one year40/41 | €39,711 | €48,278 | €59,689 | €155,932 | €55,834 | ▼ 64.2% |
| Trade receivables40 | - | - | - | €43,868 | - | - |
| Other amounts receivable41 | - | €48,278 | €59,689 | €112,064 | €55,834 | ▼ 50.2% |
| Cash at bank and in hand54/58 | €18,000 | - | €32,149 | €14,156 | €140,043 | ▲ 889% |
| Deferred charges and accrued income490/1 | - | €22,394 | €22,961 | €18,597 | €9,565 | ▼ 48.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €93,033 | €86,080 | €149,617 | €234,661 | €238,508 | ▲ 1.6% |
| Equity10/15 | €25,588 | €36,749 | €93,515 | €85,245 | €59,552 | ▼ 30.1% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €5,554 | €18,149 | €74,915 | €66,645 | €40,952 | ▼ 38.6% |
| Non-distributable reserves130/1 | - | €278 | €278 | - | - | - |
| Reserves not available under the articles1311 | - | €278 | €278 | - | - | - |
| Distributable reserves133 | - | €17,871 | €74,638 | €66,645 | €40,952 | ▼ 38.6% |
| Profit (loss) carried forward14 | €1,433 | - | - | - | - | - |
| Amounts payable17/49 | €67,445 | €49,331 | €56,102 | €149,416 | €178,956 | ▲ 19.8% |
| Amounts payable after more than one year17 | €18,848 | - | €20,457 | €15,040 | - | - |
| Financial debts170/4 | - | - | €20,457 | €15,040 | - | - |
| Amounts payable within one year42/48 | €48,597 | €49,331 | €35,646 | €134,376 | €178,956 | ▲ 33.2% |
| Current portion of amounts payable after more than one year42 | - | - | €5,103 | €5,417 | - | - |
| Financial debts43 | - | €10,474 | €8,000 | €18,000 | €18,000 | = |
| Credit institutions430/8 | - | €10,474 | €8,000 | €18,000 | €18,000 | = |
| Trade debts44 | €5,681 | €6,370 | €8,283 | €41,166 | €34,825 | ▼ 15.4% |
| Suppliers440/4 | - | €6,370 | €8,283 | €41,166 | €34,825 | ▼ 15.4% |
| Advances received on contracts in progress46 | - | €28,000 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €4,487 | €14,260 | €9,794 | €26,132 | ▲ 167% |
| Taxes450/3 | - | €4,487 | €8,582 | €760 | €12,993 | ▲ 1,610% |
| Remuneration and social security454/9 | - | - | €5,678 | €9,034 | €13,138 | ▲ 45.4% |
| Other amounts payable47/48 | - | - | - | €60,000 | €100,000 | ▲ 66.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,073 | €11,161 | €56,766 | €51,729 | €74,308 | ▲ 43.6% |
| + Depreciation and write-downs630 | €16,686 | €6,770 | €12,509 | €14,843 | €15,224 | ▲ 2.6% |
| Operating cash flow (approximation) | €18,760 | €17,931 | €69,276 | €66,572 | €89,532 | ▲ 34.5% |
| Investment in fixed assets (approximation) | - | €11,633 | -€31,920 | -€26,000 | -€2,315 | ▲ 91.1% |
| Change in cash | - | - | - | -€17,993 | €125,887 | ▲ 800% |
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
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €74,308 ▲43.6%
Operating result €107,290, net result €74,308, both a record.
13-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Liquidity doublescurrent ratio 3.22
Current ratio from 1.43 to 3.22; short-term debt falls from €49,331 to €35,646.
2022
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
26-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €2,073
Net result €2,073 after one loss-making year.
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet -€640
Net result drops to -€640, the lowest in the series; recovery starts the following year.
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Lokeren · 1 establishment unit since 2018
Ground area
133 m²
Building footprint
91 m²
Volume, LiDAR
526 m³
Parcel 46384E1878/00T000, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ECRN
since 20182.277.483.982
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46384E1878/00T000 | Flanders | 133 m² | 1 · 91 m² | 9.7 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 · 1 entry · 432 EUR awarded · 432 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 432 EUR | 432 EUR |
Recognitions · licences · registrations
Recognised contractor
6 categoriesECRN BV46470
ECRN BV#9890
ECRN BV#10171
Similar companies · same sector, comparable size
HEIRWEGH
BE 0567.822.360
Lochristi · Eq €59,938
STRIPING STARS
BE 0699.517.874
Antwerpen · Eq €60,055
CHARISMA
BE 0480.461.982
Rijkevorsel · Eq €60,237
VERT 2000
BE 0475.342.461
Fernelmont · Eq €60,432
R.S.B.
BE 0886.047.686
Essen · Eq €58,651
Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 681 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
Founded05-07-2018
Fiscal year end30-06
Activities, NACEBEL 2025
42110Construction of roads and motorways
E-invoicing
Reachable via Peppol
Peppol ID
0208:0699639818
Also
9925:BE0699639818
Registered
31-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.