ENCOSO
ActiveENCOSO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.57M and a net result of €444k. Equity is growing by ~62.9% per year across the filed fiscal years. Its solvency ranks better than 88% of 2029 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
85
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▲+14
Solvency100▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130k at 30 days acceptable
Liquidity ample (current ratio 4.81 against 2.52 in 2024; short-term debt: 17.2% and cash: 19.8% of total assets), and 21.8% of the assets are financed with debt.
Credit advice 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
Sector 43
higher
← 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
78.2%
Return on assets
22.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 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 · 9 filingsDeviation from the deadline
2025
5 d late
2024
27 d early
2023
6 d late
2022
14 d late
2021
27 d late
2020
31 d late
2019
185 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€444k▲ 92.1%
2024 · €231k
2018: €51k
2019: €78k
2020: €51k
2021: €215k
2022: €607k
2023: €398k
2024: €231k
2018 → 2025
Working capital
€1.32M▲ 36.6%
2024 · €964k
2018: €36k
2019: €73k
2020: €81k
2021: €247k
2022: €689k
2023: €1.16M
2024: €964k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€415k-€1.02M▲ 146%€1.46M▲ 43.1%€1.36M▼ 7.2%€1.57M▲ 15.7%
Operating result€319k-€849k▲ 166%€537k▼ 36.7%€300k▼ 44.1%€600k▲ 99.9%
Net result€215k-€607k▲ 183%€398k▼ 34.5%€231k▼ 41.8%€444k▲ 92.1%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 100% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.01M
Fixed assets
€346k▼ 34.0%
Current assets
€1.66M▲ 4.1%
Equity and liabilities €2.01M
Equity
€1.57M▲ 15.7%
Debt
€437k▼ 42.7%
The debt ratio falls from 36.0% to 21.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€816k▲
2024 · €476k
Cash flow
€661k▲
2024 · €408k
Solvency
78.2%▲
2024 · 64.0%
Current ratio
4.81▲
2024 · 2.52
Quick ratio
4.81▲
2024 · 2.52
Debt / equity
0.28▼
2024 · 0.56
ROE
28.3%▲
2024 · 17.0%
ROA
22.1%▲
2024 · 10.9%
Interest coverage
104.33▲
2024 · 57.42
Debt
€437k▼
2024 · €763k
Debt ≤ 1 year
€345k▼
2024 · €633k
Debt > 1 year
€92k▼
2024 · €130k
Income taxes
€155k▲
2024 · €86k
Staff costs
€686k▲
2024 · €600k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.12M€2.01M▼
Fixed assets21/28€524k€346k▼
Tangible fixed assets22/27€523k€345k▼
Plant, machinery and equipment23€208k€95k▼
Furniture and vehicles24€315k€250k▼
Financial fixed assets28€1k€1k▲
Current assets29/58€1.60M€1.66M▲
Amounts receivable after more than one year29€98k€45k▼
Other amounts receivable291€98k€45k▼
Amounts receivable within one year40/41€1.30M€954k▼
Trade receivables40€1.18M€921k▼
Other amounts receivable41€118k€33k▼
Current investments50/53€0€253k▲
Cash at bank and in hand54/58€198k€398k▲
Deferred charges and accrued income490/1€4k€12k▲
Equity and liabilities
Total equity and liabilities10/49€2.12M€2.01M▼
Equity10/15€1.36M€1.57M▲
Contributions10/11€62k€62k=
Outside capital11€62k€62k=
Other1109/19€62k€62k=
Reserves13€1.30M€1.51M▲
Tax-exempt reserves132€476k€641k▲
Distributable reserves133€821k€868k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€763k€437k▼
Amounts payable after more than one year17€130k€92k▼
Financial debts170/4€130k€92k▼
Amounts payable within one year42/48€633k€345k▼
Current portion of amounts payable after more than one year42€108k€39k▼
Trade debts44€410k€44k▼
Suppliers440/4€410k€44k▼
Taxes, remuneration and social security45€109k€163k▲
Taxes450/3€65k€100k▲
Remuneration and social security454/9€44k€63k▲
Other amounts payable47/48€6k€100k▲
Income statement
Code20242025
Remuneration, social security and pensions62€600k€686k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€176k€217k▲
Other operating charges640/8€15k€27k▲
Non-recurring operating charges66A€3k-
Gross operating margin9900€1.09M€1.53M▲
Operating profit (loss)9901€300k€600k▲
Financial income75/76B€26k€8k▼
Recurring financial income75€26k€8k▼
Financial charges65/66B€8k€8k▼
Recurring financial charges65€8k€8k▼
Non-recurring financial charges66B-€117
Profit (loss) for the period before taxes9903€317k€600k▲
Income taxes67/77€86k€155k▲
Profit (loss) for the period9904€231k€444k▲
Transfer from tax-exempt reserves789-€28k
Transfer to tax-exempt reserves689€0€194k▲
Profit (loss) for the period to be appropriated9905€231k€279k▲
Appropriation of the result
Profit (loss) to be appropriated9906€231k€279k▲
Transfer from equity791/2€336k€231k▼
Transfer to equity691/2€231k€279k▲
To other reserves6921€231k€279k▲
Profit to be distributed694/7€336k€231k▼
Return on contributions (dividend)694€336k€231k▼
The notes to these accounts (17 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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 5 days late
2025
20-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 6 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 5.24
Current ratio from 2.34 to 5.24; short-term debt falls from €515k to €273k.
14-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 14 days late
2022
31-12
Financial
Highest result since 2018net €607k ▲183%
Operating result €849k, net result €607k, both a record.
31-12
Financial
Equity above €1MEq €1.02M ▲146%
5 profitable years in a row build equity to €1.02M.
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 27 days late
2021
31-12
Financial
Equity above €200kEq €415k ▲110%
4 profitable years in a row build equity to €415k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €150kEq €198k ▲33.7%
3 profitable years in a row build equity to €198k.
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €100kEq €148k ▲112%
2 profitable years in a row build equity to €148k.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Laarne · 1 establishment unit since 2017
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.
Veldmeersstraat 99270 LaarneGround area
2,549 m²
Building footprint
1,199 m²
Volume, LiDAR
444 m³
2 parcels, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ENCOSO
since 20172.264.587.932
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42010B1035/00A000 | Flanders | 2,146 m² | 1 · 1,124 m² | - |
| 44028C0298/00G000 | Flanders | 403 m² | 1 · 75 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 · 5 entries · 12,779 EUR awarded · 12,998 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,784 EUR | 1,784 EUR |
| 2024 | 1 | 1,265 EUR | 1,265 EUR |
| 2023 | 1 | 668 EUR | 887 EUR |
| 2022 | 2 | 9,062 EUR | 9,062 EUR |
Schemes
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
7 categoriesENCOSO NV37773
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Of 15,542 companies in sector 43990 we hold annual accounts for 7,421. 2,425 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-04-2017
Fiscal year end31-12
Activities, NACEBEL
42220Construction of utility projects for electricity and telecommunications
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:nikolaas@encoso.be