Equity
€126,805 ▲ 185%
Equity rose in 2024 from €44,500 to €126,805.
EF GROUP
Lifetime
4 annual accounts with figures on one time axispeak €107,730 (2024)
€107,730▲ 84.4%
lowest -€11,974 (2021)
€82,305▲ 52.4%
peak €126,805 (2024)
€126,805▲ 185%
€99,141▲ 60.5%
Board1 name since 2021
1 directorELOUARTI Fouad
Documentsfilings and deeds
28-11-2025120 days late
2024micro format
Gross margin from €58,420 to €107,730Result from €53,992 to €82,305Equity from €44,500 to €126,805Debts from €61,776 to €99,141Investments €34,185Cash from €45,375 to €72,978
Key points
from the 2024 annual accountsTurnover
≈ €340,000 estimated
The micro format states no turnover.
Investments
€30,306 3.1 × depreciation
Green is investment, beige is depreciation.
Filings
4 annual accounts 103 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
At the same address
106 companies
Position in the sector
€82,305
Higher net result than 94% of companies in specialised construction. Sector median €9,467 · 35,926 companies.
Checked score
38
Weak
Financially stronger than 79% of micro companies in specialised construction (NACE 43)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
7.5% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 6.1%
01-2025: 1.6%▼ -4.5 percentage points vs 12-2024
02-2025: 1.5%▼ -0.1 percentage points vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.5%● unchanged vs 03-2025
05-2025: 1.5%● unchanged vs 04-2025
06-2025: 1.4%▼ -0.1 percentage points vs 05-2025
07-2025: 1.4%● unchanged vs 06-2025lowest value
08-2025: 2.0%▲ +0.6 percentage points vs 07-2025
09-2025: 4.4%▲ +2.4 percentage points vs 08-2025
10-2025: 7.0%▲ +2.6 percentage points vs 09-2025
11-2025: 7.2%▲ +0.2 percentage points vs 10-2025
12-2025: 2.7%▼ -4.5 percentage points vs 11-2025
01-2026: 2.6%▼ -0.1 percentage points vs 12-2025
02-2026: 2.6%● unchanged vs 01-2026
03-2026: 2.6%● unchanged vs 02-2026
04-2026: 2.7%▲ +0.1 percentage points vs 03-2026
05-2026: 3.1%▲ +0.4 percentage points vs 04-2026
06-2026: 3.0%▼ -0.1 percentage points vs 05-2026
07-2026: 3.0%● unchanged vs 06-2026
08-2026: 3.8%▲ +0.8 percentage points vs 07-2026
09-2026: 4.3%▲ +0.5 percentage points vs 08-2026
10-2026: 7.6%▲ +3.3 percentage points vs 09-2026highest value
11-2026: 7.5%▼ -0.1 percentage points vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Figures for financial year 2024 (filed on 29-11-2025)
1 financial year not filed after the legal deadline; last filed accounts filed 120 days late; 3 of the last 3 accounts late
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 1.97, cash €72,978
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 61% of them on solvency, 68% on liquidity, 92% on profitability and 95% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as EF GROUP has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of EF GROUP itself is higher: 7.5% within 12 months. It rests on far more data about EF GROUP than the profile alone.
Test of the method
The method was tested on the 497,448 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 26,972 companies, not a prediction for EF GROUP. 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.
Credit verdict
Credit of up to €4,500 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is ample, with a current ratio of 1.97 (1.63 in 2023), above the usual 1.5. Short-term debt is 43.9% and cash 32.3% of total assets. 43.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year €126,805
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 103 days later.
NBB · 4 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline11-11-2026 today
raises risk · 2024 accounts filed 120 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-11-2025, 120 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 4 filingsDeviation from the deadline
2025
not filed
2024
120 days late
2023
134 days late
2022
65 days late
2021
69 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 97 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered office moved within Anderlecht
New registered office: Boulevard Paepsem 20 L23 1070 Anderlecht · Previous registered office: CHAUSSEE DE MONS 789 1070 ANDERLECHT · General meeting of 31-07-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0767779744
Incorporation
Founding capital of €10,000, 100 shares · Founder: ELOUARTI Fouad · Appointment: ELOUARTI Fouad (director) · published on 05-05-2021 · Gazette deed
First establishment
RefriTech, Paapsemlaan 20, Anderlecht
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| EF GROUP Anderlecht | €225,946 | €107,730 | 56.1% | - |
| GAZPRO Brussels | €241,297 | €112,706 | 40.6% | - |
| BRAMOS Brussels | €226,747 | €94,784 | 0.9% | - |
| MCS CHAUFFAGE SRL Seraing | €236,374 | €106,269 | 13.0% | - |
| Hedico Technics Wichelen | €226,386 | €99,270 | 64.9% | 1 |
| BERTELS DIETER Tessenderlo-Ham | €220,174 | €97,954 | 9.0% | - |
| BÂTI-NRGI Les Bons Villers | €206,511 | €109,537 | 24.2% | - |
These companies have the same main activity as EF GROUP: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €207,000 and €241,000, founded between 2020 and 2022.
Official details
Source: KBO- Status
- Active since 03-05-2021Normal situation
- Registered office
- 107 active companies are registered at this address8 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 4 others
- Establishment unit
- 2.319.069.6641070 Anderlecht, since 03-05-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 25-03-2025
Insights on EF GROUP
EF GROUP files the micro format. That format states no turnover. The gross margin rose from -€10,907 in 2021 to €107,730 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about EF GROUP
- What is the company number of EF GROUP?
- The company number of EF GROUP is 0767.779.744. The VAT number is the same number with BE in front: BE 0767.779.744.
- Where is EF GROUP based?
- The registered office is at Paapsemlaan 20, 1070 Anderlecht.Company details
- What does EF GROUP do?
- According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
- What is the legal form of EF GROUP?
- EF GROUP is a private limited company (BV).
- When was EF GROUP founded?
- EF GROUP was founded on 03-05-2021.
- Is EF GROUP still active?
- Yes, EF GROUP is an active enterprise in the KBO register.
- What is the turnover of EF GROUP?
- The turnover in financial year 2024 is ≈ €340,000. This figure is estimated from the gross margin of €107,730 and 86 comparable companies (NACE 432). It probably lies between €270,000 and €410,000.Financials
- Is EF GROUP profitable?
- In financial year 2024, EF GROUP made a profit of €82,305.
- Where can I find the annual accounts of EF GROUP?
- EF GROUP filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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