EFFERVESCENCE
ActiveSummary
EFFERVESCENCE has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6k and a net result of €5k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 54% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+76
Solvency76▲+49
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
50.6%
Return on assets
45.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €6k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
31 d late
2023
60 d late
2022
51 d late
2021
31 d late
2020
27 d late
2019
94 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€17k
EBIT margin
25.9%
Net result
€5k
2024 · €-910
2018: €-19klowest in 8 years
2019: €4k▲ +121% vs 2018
2020: €16k▲ +290% vs 2019highest in 8 years
2021: €13k▼ -16.6% vs 2020
2022: €1k▼ -91.8% vs 2021
2023: €6k▲ +432% vs 2022
2024: €-910▼ -116% vs 2023
2025: €5k▲ +667% vs 2024
2018 → 2025
Working capital
€6k▲ 829%
2024 · €622
2018: €-38k
2019: €-41k▼ -6.0% vs 2018lowest in 8 years
2020: €-23k▲ +44.5% vs 2019
2021: €-12k▲ +47.3% vs 2020
2022: €-6k▲ +45.9% vs 2021
2023: €613▲ +109% vs 2022
2024: €622▲ +1.5% vs 2023
2025: €6k▲ +829% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-5k-€-4k▲ 20.5%€2k€622▼ 59.4%€6k▲ 829%
2021: €-5klowest in 5 years
2022: €-4k▲ +20.5% vs 2021
2023: €2k▲ +137% vs 2022
2024: €622▼ -59.4% vs 2023
2025: €6k▲ +829% vs 2024highest in 5 years
Operating result€13k-€1k▼ 90.6%€6k▲ 368%€-814€5k
2021: €13khighest in 5 years
2022: €1k▼ -90.6% vs 2021
2023: €6k▲ +368% vs 2022
2024: €-814▼ -114% vs 2023lowest in 5 years
2025: €5k▲ +718% vs 2024
Net result€13k-€1k▼ 91.8%€6k▲ 432%€-910€5k
2021: €13khighest in 5 years
2022: €1k▼ -91.8% vs 2021
2023: €6k▲ +432% vs 2022
2024: €-910▼ -116% vs 2023lowest in 5 years
2025: €5k▲ +667% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €5k after a loss of €814 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €11k
Equity
€6k ▲ 829%
Debt
€6k ▼ 82.2%
Debt's share of the balance-sheet total falls from 98.1% to 49.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5k▲
2024 · €105
Cash flow
€5k▲
2024 · €9
Current ratio
2.02▲
2024 · 1.02
Debt to equity
0.98
ROE
89.2%
ROA
45.2%▲
2024 · -2.8%
Interest coverage
40.67▲
2024 · 1.09
Debt ≤ 1 year
€6k▼
2024 · €32k
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 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€32k€11k▼
Fixed assets21/28€0-
Tangible fixed assets22/27€0-
Furniture and vehicles24€0-
Current assets29/58€32k€11k▼
Amounts receivable within one year40/41€12k€7k▼
Trade receivables40€12k€7k▼
Other amounts receivable41€707€41▼
Cash at bank and in hand54/58€20k€4k▼
Deferred charges and accrued income490/1€289€119▼
Equity and liabilities
Total equity and liabilities10/49€32k€11k▼
Equity10/15€622€6k▲
Contributions10/11€19k€19k=
Reserves13€547€547=
Non-distributable reserves130/1€547€547=
Reserves not available under the articles1311€547€547=
Profit (loss) carried forward14€-19k€-13k▲
Amounts payable17/49€32k€6k▼
Amounts payable within one year42/48€32k€6k▼
Trade debts44€30k€4k▼
Suppliers440/4€30k€4k▼
Taxes, remuneration and social security45€202€436▲
Taxes450/3€202€436▲
Other amounts payable47/48€2k€1k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€919€0▼
Other operating charges640/8€951€2k▲
Gross operating margin9900€1k€7k▲
Operating profit (loss)9901€-814€5k▲
Financial income75/76B€0€256▲
Recurring financial income75€0€256▲
Financial charges65/66B€96€124▲
Recurring financial charges65€96€124▲
Profit (loss) for the period before taxes9903€-910€5k▲
Profit (loss) for the period9904€-910€5k▲
Profit (loss) for the period to be appropriated9905€-910€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-19k€-13k▲
Profit (loss) brought forward from the previous period14P€-18k€-19k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €826 | €703 | €0 | - | - | - |
| Remuneration, social security and pensions62 | €-29 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €922 | €1k | €1k | €919 | €0 | ▼ 100% |
| Other operating charges640/8 | €781 | €2k | €151 | €951 | €2k | ▲ 153% |
| Gross operating margin9900 | €15k | €5k | €7k | €1k | €7k | ▲ 604% |
| Operating profit (loss)9901 | €13k | €1k | €6k | €-814 | €5k | ▲ 718% |
| Financial income75/76B | €0 | €1 | €0 | €0 | €256 | - |
| Recurring financial income75 | €0 | €1 | €0 | €0 | €256 | - |
| Financial charges65/66B | €147 | €160 | €156 | €96 | €124 | ▲ 28.1% |
| Recurring financial charges65 | €147 | €160 | €156 | €96 | €124 | ▲ 28.1% |
| Profit (loss) for the period before taxes9903 | €13k | €1k | €6k | €-910 | €5k | ▲ 667% |
| Income taxes67/77 | €116 | €19 | €0 | - | - | - |
| Profit (loss) for the period9904 | €13k | €1k | €6k | €-910 | €5k | ▲ 667% |
| Profit (loss) for the period to be appropriated9905 | €13k | €1k | €6k | €-910 | €5k | ▲ 667% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €32k | €47k | €34k | €32k | €11k | ▼ 64.6% |
| Fixed assets21/28 | €7k | €2k | €919 | €0 | - | - |
| Tangible fixed assets22/27 | €7k | €2k | €919 | €0 | - | - |
| Furniture and vehicles24 | €7k | €2k | €919 | €0 | - | - |
| Current assets29/58 | €25k | €45k | €33k | €32k | €11k | ▼ 64.6% |
| Amounts receivable within one year40/41 | €17k | €37k | €18k | €12k | €7k | ▼ 40.6% |
| Trade receivables40 | €14k | €34k | €18k | €12k | €7k | ▼ 37.3% |
| Other amounts receivable41 | €3k | €3k | €310 | €707 | €41 | ▼ 94.1% |
| Cash at bank and in hand54/58 | €8k | €8k | €15k | €20k | €4k | ▼ 79.8% |
| Deferred charges and accrued income490/1 | €306 | €92 | €202 | €289 | €119 | ▼ 58.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €32k | €47k | €34k | €32k | €11k | ▼ 64.6% |
| Equity10/15 | €-5k | €-4k | €2k | €622 | €6k | ▲ 829% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | €19k | - | - | - | - | - |
| Other1109/19 | €19k | - | - | - | - | - |
| Reserves13 | €547 | €547 | €547 | €547 | €547 | = |
| Non-distributable reserves130/1 | €547 | €547 | €547 | €547 | €547 | = |
| Reserves not available under the articles1311 | €547 | €547 | €547 | €547 | €547 | = |
| Profit (loss) carried forward14 | €-24k | €-23k | €-18k | €-19k | €-13k | ▲ 27.8% |
| Amounts payable17/49 | €37k | €51k | €33k | €32k | €6k | ▼ 82.2% |
| Amounts payable within one year42/48 | €37k | €51k | €33k | €32k | €6k | ▼ 82.2% |
| Trade debts44 | €19k | €36k | €23k | €30k | €4k | ▼ 86.9% |
| Suppliers440/4 | €19k | €36k | €23k | €30k | €4k | ▼ 86.9% |
| Taxes, remuneration and social security45 | €116 | €121 | €102 | €202 | €436 | ▲ 116% |
| Taxes450/3 | €116 | €121 | €102 | €202 | €436 | ▲ 116% |
| Other amounts payable47/48 | €18k | €15k | €10k | €2k | €1k | ▼ 23.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13k | €1k | €6k | €-910 | €5k | ▲ 667% |
| + Depreciation and write-downs630 | €922 | €1k | €1k | €919 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €14k | €2k | €7k | €9 | €5k | ▲ 57,538% |
| Investment in fixed assets (approximation) | - | €3k | €0 | €0 | - | - |
| Change in cash | - | €-194 | €7k | €5k | €-16k | ▼ 434% |
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
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 60 days late
2023
20-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 51 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Highest result since 2018net €16k ▲290%
Operating result €16k, net result €16k, both a record.
02-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 94 days late
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 84 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 61 days late
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, Wavre · 1 establishment unit since 2013
Ground area
2,486 m²
Building footprint
1,257 m²
Volume, LiDAR
6,655 m³
2 parcels, Brussels, Wallonia · tallest building 15.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Dieweg 114, 1180 Ukkel
since 20132.216.669.734
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25055C0543/00V000 | Wallonia | 2,261 m² | 1 · 1,180 m² | 6.8 m · 2 fl. |
| 21614E0046/00F000 | Brussels | 225 m² | 1 · 78 m² | 15.8 m · 3 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.
Similar companies · same sector, comparable size
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DMK CONCEPT
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AKKOL
BE 0802.067.066
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M.H. IMMO
BE 0769.820.110
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 3,019 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 (pre-2019)
Founded21-05-1990
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.