EFFENSO
ActiveSummary
EFFENSO has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €510,190 and a net result of €53,921. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 50% of 8161 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability62▲+5
Solvency69▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 1.72 against 1.94 in 2024; short-term debt: 55.4% and cash: 2.5% of total assets), but 56.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
43.5%
Return on assets
4.6%
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 28-10-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
14 d early
2023
7 d late
2022
on the day
2021
2 d early
2020
27 d late
2019
on the day
← 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 2 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 29 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€510,190▲ 11.8%
2024 · €456,268
Total assets
€1.2m▼ 4.4%
2024 · €1.2m
Net result
€53,921▲ 21.5%
2024 · €44,393
Working capital
€465,876▼ 15.7%
2024 · €552,480
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€120,828▲ 81.9%€92,043▼ 23.8%€48,884▼ 46.9%€81,899▲ 67.5%€100,953▲ 23.3%
Net result€82,975within the sector's middle half▲ 89.2%€60,388within the sector's middle half▼ 27.2%€5,304within the sector's middle half▼ 91.2%€44,393within the sector's middle half▲ 737%€53,921within the sector's middle half▲ 21.5%
Equity€346,183within the sector's middle half▲ 31.5%€406,571within the sector's middle half▲ 17.4%€411,875within the sector's middle half▲ 1.3%€456,268within the sector's middle half▲ 10.8%€510,190within the sector's middle half▲ 11.8%
Total assets€1.0mwithin the sector's middle half▲ 13.1%€1.1mwithin the sector's middle half▲ 6.4%€1.2mwithin the sector's middle half▲ 13.9%€1.2mwithin the sector's middle half▲ 1.0%€1.2mwithin the sector's middle half▼ 4.4%
Debt€655,312▲ 5.2%€658,790▲ 0.5%€801,830▲ 21.7%€769,357▼ 4.0%€661,632▼ 14.0%
Working capital€331,438within the sector's middle half▲ 34.8%€395,763within the sector's middle half▲ 19.4%€544,384within the sector's middle half▲ 37.6%€552,480within the sector's middle half▲ 1.5%€465,876within the sector's middle half▼ 15.7%
Solvency34.6%within the sector's middle half▲ 4.9pp38.2%within the sector's middle half▲ 3.6pp33.9%within the sector's middle half▼ 4.2pp37.2%within the sector's middle half▲ 3.3pp43.5%within the sector's middle half▲ 6.3pp
Current ratio1.51within the sector's middle half▲ 0.111.61within the sector's middle half▲ 0.101.84within the sector's middle half▲ 0.231.94within the sector's middle half▲ 0.101.72within the sector's middle half▼ 0.22
Return on assets (ROA)8.3%within the sector's middle half▲ 3.3pp5.7%within the sector's middle half▼ 2.6pp0.4%within the sector's middle half▼ 5.2pp3.6%within the sector's middle half▲ 3.2pp4.6%within the sector's middle half▲ 1.0pp
Staff (FTE)5within the sector's middle half▲ 19.0%4.9within the sector's middle half▼ 2.0%4.6within the sector's middle half▼ 6.1%4.5within the sector's middle half▼ 2.2%2.6within the sector's middle half▼ 42.2%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 23% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€57,271 ▼ 32.9%
Current assets
€1.1m ▼ 2.3%
Equity and liabilities €1.2m
Equity
€510,190 ▲ 11.8%
Debt
€661,632 ▼ 14.0%
Debt's share of the balance-sheet total falls from 62.8% to 56.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€130,399▲
2024 · €101,107
Cash flow
€83,367▲
2024 · €63,600
Quick ratio
0.21▼
2024 · 0.45
Debt to equity
1.30▼
2024 · 1.69
ROE
10.6%▲
2024 · 9.7%
Interest coverage
4.45▲
2024 · 4.00
Debt ≤ 1 year
€648,676▲
2024 · €587,761
Debt > 1 year
€7,074▼
2024 · €177,670
Income taxes
€21,725▲
2024 · €15,998
Staff costs
€157,181▲
2024 · €137,960
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.8%
went bankrupt
4.0%
stopped otherwise
95%
still going
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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 10,905 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €232,962 | €207,667 | €137,960 | €157,181 | ▲ 13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,262 | €4,316 | €14,157 | €19,207 | €29,446 | ▲ 53.3% |
| Other operating charges640/8 | - | €2,100 | €59,478 | €3,347 | €3,438 | ▲ 2.7% |
| Gross operating margin9900 | €326,757 | €331,421 | €330,186 | €242,414 | €291,018 | ▲ 20.0% |
| Operating profit (loss)9901 | €120,828 | €92,043 | €48,884 | €81,899 | €100,953 | ▲ 23.3% |
| Financial income75/76B | - | €21,098 | - | €3,738 | €3,973 | ▲ 6.3% |
| Recurring financial income75 | €8,720 | €21,098 | - | €3,738 | €3,973 | ▲ 6.3% |
| Financial charges65/66B | - | €6,408 | €34,306 | €25,246 | €29,280 | ▲ 16.0% |
| Recurring financial charges65 | €14,628 | €6,408 | €34,306 | €25,246 | €29,280 | ▲ 16.0% |
| Profit (loss) for the period before taxes9903 | €114,920 | €106,733 | €14,578 | €60,391 | €75,646 | ▲ 25.3% |
| Income taxes67/77 | €31,945 | €46,345 | €9,274 | €15,998 | €21,725 | ▲ 35.8% |
| Profit (loss) for the period9904 | €82,975 | €60,388 | €5,304 | €44,393 | €53,921 | ▲ 21.5% |
| Profit (loss) for the period to be appropriated9905 | €82,975 | €60,388 | €5,304 | €44,393 | €53,921 | ▲ 21.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €1.1m | €1.2m | €1.2m | €1.2m | ▼ 4.4% |
| Fixed assets21/28 | €19,893 | €15,578 | €18,178 | €85,385 | €57,271 | ▼ 32.9% |
| Intangible fixed assets21 | - | - | €2,087 | €1,631 | €2,440 | ▲ 49.6% |
| Tangible fixed assets22/27 | €15,879 | €11,563 | €12,076 | €79,739 | €50,816 | ▼ 36.3% |
| Plant, machinery and equipment23 | - | €1,338 | €5,101 | €6,189 | €4,233 | ▼ 31.6% |
| Furniture and vehicles24 | - | €7,444 | €6,391 | €73,551 | €46,583 | ▼ 36.7% |
| Other tangible fixed assets26 | - | €2,780 | €584 | - | - | - |
| Financial fixed assets28 | €4,015 | €4,015 | €4,015 | €4,015 | €4,015 | = |
| Current assets29/58 | €981,602 | €1.0m | €1.2m | €1.1m | €1.1m | ▼ 2.3% |
| Stocks and contracts in progress3 | €686,184 | €738,097 | €938,147 | €874,177 | €975,528 | ▲ 11.6% |
| Stocks30/36 | - | €738,097 | €938,147 | €874,177 | €975,528 | ▲ 11.6% |
| Amounts receivable within one year40/41 | €271,580 | €263,912 | €149,028 | €142,438 | €110,012 | ▼ 22.8% |
| Trade receivables40 | - | €220,713 | €124,868 | €130,652 | €99,099 | ▼ 24.2% |
| Other amounts receivable41 | - | €43,199 | €24,160 | €11,786 | €10,913 | ▼ 7.4% |
| Cash at bank and in hand54/58 | €23,838 | €47,775 | €108,352 | €123,626 | €29,012 | ▼ 76.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €1.1m | €1.2m | €1.2m | €1.2m | ▼ 4.4% |
| Equity10/15 | €346,183 | €406,571 | €411,875 | €456,268 | €510,190 | ▲ 11.8% |
| Contributions10/11 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Capital10 | - | €12,500 | €12,500 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | €6,100 | €6,100 | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €443,768 | €497,690 | ▲ 12.2% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €443,768 | €497,690 | ▲ 12.2% |
| Profit (loss) carried forward14 | €331,823 | €392,211 | €397,515 | - | - | - |
| Amounts payable17/49 | €655,312 | €658,790 | €801,830 | €769,357 | €661,632 | ▼ 14.0% |
| Amounts payable after more than one year17 | - | - | €150,000 | €177,670 | €7,074 | ▼ 96.0% |
| Financial debts170/4 | - | - | €150,000 | €177,670 | €7,074 | ▼ 96.0% |
| Amounts payable within one year42/48 | €650,164 | €654,021 | €651,143 | €587,761 | €648,676 | ▲ 10.4% |
| Current portion of amounts payable after more than one year42 | - | - | €46,168 | €65,998 | €91,898 | ▲ 39.2% |
| Financial debts43 | - | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Credit institutions430/8 | - | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Trade debts44 | €289,711 | €298,001 | €256,361 | €178,361 | €216,092 | ▲ 21.2% |
| Suppliers440/4 | - | €298,001 | €256,361 | €178,361 | €216,092 | ▲ 21.2% |
| Taxes, remuneration and social security45 | - | €55,419 | €48,012 | €42,800 | €39,124 | ▼ 8.6% |
| Taxes450/3 | - | €18,914 | €14,556 | €13,535 | €15,928 | ▲ 17.7% |
| Remuneration and social security454/9 | - | €36,504 | €33,456 | €29,265 | €23,197 | ▼ 20.7% |
| Other amounts payable47/48 | - | €601 | €601 | €601 | €1,562 | ▲ 160% |
| Accrued charges and deferred income492/3 | - | €4,770 | €686 | €3,927 | €5,883 | ▲ 49.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82,975 | €60,388 | €5,304 | €44,393 | €53,921 | ▲ 21.5% |
| + Depreciation and write-downs630 | €7,262 | €4,316 | €14,157 | €19,207 | €29,446 | ▲ 53.3% |
| Operating cash flow (approximation) | €90,237 | €64,704 | €19,461 | €63,600 | €83,367 | ▲ 31.1% |
| Investment in fixed assets (approximation) | - | €0 | -€16,757 | -€86,414 | -€1,332 | ▲ 98.5% |
| Change in cash | - | €23,937 | €60,578 | €15,274 | -€94,615 | ▼ 719% |
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
28-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Equity above €500,000Eq €510,190 ▲11.8%
7 profitable years in a row build equity to €510,190.
2024
17-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
07-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 7 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Highest result since 2019net €82,975 ▲89.2%
Operating result €120,828, net result €82,975, both a record.
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
25-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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.
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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, Waregem · 2 establishment units since 2007
Ground area
3,965 m²
Building footprint
355 m²
Volume, LiDAR
1,912 m³
2 parcels, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
EFFENSO
since 20072.168.908.419
EFFENSO
since 20182.276.256.240
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37002C0242/00N000 | Flanders | 2,121 m² | 1 · 173 m² | 8.8 m · 2 fl. |
| 34035B0213/00C003 | Flanders | 1,844 m² | 1 · 182 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
2022 to 2025 · 7 entries · 15,451 EUR awarded · 15,451 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 5,182 EUR | 5,182 EUR |
| 2024 | 2 | 4,111 EUR | 4,111 EUR |
| 2023 | 2 | 3,111 EUR | 3,111 EUR |
| 2022 | 2 | 3,047 EUR | 3,047 EUR |
Recognitions · licences · registrations
Dual-learning approval
3 endedMagazijnmedewerker (so)
Magazijnmedewerker (vwo)
Magazijnmedewerker duaal (so)
Legal Entity Identifier
967600H52S324BJZ8X37
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Of 1,805 companies in sector 46831 we hold annual accounts for 1,399. 1,028 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
Founded12-12-2007
Fiscal year end31-03
Activities, NACEBEL 2025
25930Manufacture of fabricated metal products, except machinery and equipment
46831Wholesale of construction materials, general range
Contact
Website
www.effenso.com
E-mail
info@effenso.com
Phone
0499295704
Fax
093887454
E-mail
magazijn@effenso.comWaregem
Phone
056608538Waregem
E-invoicing
Reachable via Peppol
Peppol ID
0208:0894230429
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.