Endeco
ActiveEndeco has been active since 1963 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.93M and a net result of €693k. Equity is growing by ~32.7% per year across the filed fiscal years. Its solvency ranks better than 79% of 6007 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
93
/ 100
Excellent▼ -7 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability88▼-12
Solvency100▲+2
Growth63=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €370k at 30 days acceptable
Liquidity ample (current ratio 3.05 against 2.14 in 2023), and 30.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 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 2024Solvency, return and age of the figures
Solvency
69.4%
Return on assets
12.2%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
33 d early
2022
31 d late
2021
26 d late
2020
23 d late
2019
1 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€9.71M▲ 5.6%
2021 · €9.20M
2018: €9.74M
2019: €8.94M
2020: €7.83M
2021: €9.20M
2018 → 2022
EBIT margin
10.8%▲ 3.8pp
2021 · 7.0%
2018: 1.0%
2019: 1.2%
2020: 5.3%
2021: 7.0%
2018 → 2022
Net result
€693k▼ 22.9%
2023 · €899k
2018: €35k
2019: €16k
2020: €307k
2021: €451k
2022: €627k
2023: €899k
2018 → 2024
Working capital
€3.07M▲ 25.9%
2023 · €2.44M
2018: €270k
2019: €287k
2020: €587k
2021: €1.03M
2022: €1.56M
2023: €2.44M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€7.83M-€9.20M▲ 17.4%€9.71M▲ 5.6%
Equity€1.26M-€1.71M▲ 35.7%€2.34M▲ 36.6%€3.24M▲ 38.4%€3.93M▲ 21.4%
Operating result€417k-€645k▲ 54.7%€1.05M▲ 62.2%€1.25M▲ 19.5%€1.04M▼ 16.7%
Net result€307k-€451k▲ 47.1%€627k▲ 39.0%€899k▲ 43.4%€693k▼ 22.9%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 17% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.67M
Fixed assets
€1.11M▼ 2.0%
Current assets
€4.56M▼ 0.1%
Equity and liabilities €5.67M
Equity
€3.93M▲ 21.4%
Provisions
€135k▼ 5.5%
Debt
€1.60M▼ 30.8%
The debt ratio falls from 40.6% to 28.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€1.16M▼
2023 · €1.37M
Cash flow
€810k▼
2023 · €1.02M
Solvency
69.4%▲
2023 · 56.9%
Current ratio
3.05▲
2023 · 2.14
Quick ratio
2.94▲
2023 · 2.11
Debt / equity
0.41▼
2023 · 0.71
ROE
17.6%▼
2023 · 27.7%
ROA
12.2%▼
2023 · 15.8%
Interest coverage
53.24▲
2023 · 34.76
Debt
€1.60M▼
2023 · €2.32M
Debt ≤ 1 year
€1.49M▼
2023 · €2.13M
Debt > 1 year
€102k▼
2023 · €165k
Income taxes
€350k▲
2023 · €321k
Staff costs
€2.27M▼
2023 · €2.51M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€5.70M€5.67M▼
Fixed assets21/28€1.13M€1.11M▼
Tangible fixed assets22/27€1.08M€1.06M▼
Land and buildings22€667k€640k▼
Plant, machinery and equipment23€233k€210k▼
Furniture and vehicles24€119k€155k▲
Other tangible fixed assets26€64k€56k▼
Financial fixed assets28€49k€49k=
Current assets29/58€4.57M€4.56M▼
Stocks and contracts in progress3€75k€163k▲
Stocks30/36€75k€163k▲
Amounts receivable within one year40/41€2.95M€2.94M▼
Trade receivables40€2.73M€2.80M▲
Other amounts receivable41€217k€140k▼
Cash at bank and in hand54/58€1.54M€1.43M▼
Deferred charges and accrued income490/1€6k€30k▲
Equity and liabilities
Total equity and liabilities10/49€5.70M€5.67M▼
Equity10/15€3.24M€3.93M▲
Contributions10/11€632k€632k=
Capital10€632k€632k=
Issued capital100€632k€632k=
Reserves13€1.90M€2.59M▲
Non-distributable reserves130/1€68k€68k=
Legal reserve130€68k€68k=
Tax-exempt reserves132€804k€789k▼
Distributable reserves133€1.03M€1.73M▲
Profit (loss) carried forward14€706k€714k▲
Provisions and deferred taxes16€143k€135k▼
Deferred taxes168€143k€135k▼
Amounts payable17/49€2.32M€1.60M▼
Amounts payable after more than one year17€165k€102k▼
Financial debts170/4€165k€102k▼
Amounts payable within one year42/48€2.13M€1.49M▼
Current portion of amounts payable after more than one year42€81k€63k▼
Financial debts43€360k-
Credit institutions430/8€360k-
Trade debts44€814k€911k▲
Suppliers440/4€814k€911k▲
Advances received on contracts in progress46€209k€309k▲
Taxes, remuneration and social security45€568k€212k▼
Taxes450/3€568k€80k▼
Remuneration and social security454/9-€132k
Other amounts payable47/48€100k-
Accrued charges and deferred income492/3€20k€6k▼
Income statement
Code20232024
Remuneration, social security and pensions62€2.51M€2.27M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€124k€117k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€13k-
Other operating charges640/8€21k€23k▲
Gross operating margin9900€3.92M€3.46M▼
Operating profit (loss)9901€1.25M€1.04M▼
Financial income75/76B€488€15k▲
Recurring financial income75€488€15k▲
Financial charges65/66B€40k€22k▼
Recurring financial charges65€40k€22k▼
Profit (loss) for the period before taxes9903€1.21M€1.04M▼
Transfer from deferred taxes780€8k€8k=
Income taxes67/77€321k€350k▲
Profit (loss) for the period9904€899k€693k▼
Transfer from tax-exempt reserves789€15k€15k=
Transfer to tax-exempt reserves689€421k-
Profit (loss) for the period to be appropriated9905€493k€708k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.14M€1.41M▲
Profit (loss) brought forward from the previous period14P€643k€706k▲
Transfer to equity691/2€430k€700k▲
To other reserves6921€430k€700k▲
Social balance
Average headcount (FTE)908743.438.9▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €899k ▲43.4%
Operating result €1.25M, net result €899k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Equity above €2MEq €2.34M ▲36.6%
5 profitable years in a row build equity to €2.34M.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
31-12
Financial
Equity above €1MEq €1.26M ▲32%
3 profitable years in a row build equity to €1.26M.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €16k ▼55.2%
Net result drops to €16k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2024
LEBLICQ Alain Henri Georges
CurrentDirector · since 25-03-2024
25-03-2024
Appointed as Director
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 1963
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.
Rue de l'Industrie 61301 WavreGround area
5,169 m²
Building footprint
1,672 m²
Parcel 25006C0331/00K000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de l'Industrie 6, 1301 Wavre
since 19632.105.895.437
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006C0331/00K000 | Wallonia | 5,169 m² | 1 · 1,672 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
21 categoriesEndeco SA08100
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G + H MONTAGE
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Of 4,244 companies in sector 43230 we hold annual accounts for 1,230. 193 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1963
Fiscal year end31-12
Activities, NACEBEL
43230Insulation installation
43291Specialised construction activities
43310Plastering work
46190Agents in non-specialised wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.