EnDev-R
ActiveEnDev-R has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.36M and a net result of €131k. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 73% of 268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
91
/ 100
Excellent▼ -9 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▼-24
Solvency97▲+7
Growth37▼-43
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 2.79 against 2.11 in 2024), and 45.1% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Sector 35
lower
← 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
54.9%
Return on assets
3.1%
Age of the figures
17 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 01-10-2025, 30 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
30 d early
2024
34 d early
2023
11 d early
2021
82 d early
2020
50 d early
2019
81 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
31-03-2026 close12-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€789k▼ 64.2%
2024 · €2.21M
2019: €1.23M
2020: €1.04M
2021: €778k
2023: €1.56M
2024: €2.21M
2019 → 2025
EBIT margin
31.3%▼ 31.0pp
2024 · 62.3%
2019: 47.2%
2020: 40.0%
2021: 17.9%
2023: 38.2%
2024: 62.3%
2019 → 2025
Net result
€131k▼ 86.4%
2024 · €967k
2019: €428k
2020: €277k
2021: €12k
2023: €341k
2024: €967k
2019 → 2025
Working capital
€1.04M▼ 21.2%
2024 · €1.32M
2019: €200k
2020: €350k
2021: €253k
2023: €751k
2024: €1.32M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€1.04M-€778k▼ 25.4%€1.56M▲ 101%€2.21M▲ 41.1%€789k▼ 64.2%
Equity€1.63M-€1.36M▼ 16.4%€1.78M▲ 31.0%€2.39M▲ 34.1%€2.36M▼ 1.2%
Operating result€417k-€139k▼ 66.6%€597k▲ 329%€1.37M▲ 130%€247k▼ 82.0%
Net result€277k-€12k▼ 95.7%€341k▲ 2,754%€967k▲ 183%€131k▼ 86.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 82% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.29M
Fixed assets
€2.67M▼ 4.4%
Current assets
€1.62M▼ 35.5%
Equity and liabilities €4.29M
Equity
€2.36M▼ 1.2%
Provisions
€85k▲ 19.4%
Debt
€1.85M▼ 35.2%
The debt ratio falls from 53.7% to 43.1%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€524k▼
2024 · €1.81M
Cash flow
€408k▼
2024 · €1.40M
Solvency
54.9%▲
2024 · 44.9%
Current ratio
2.79▲
2024 · 2.11
Quick ratio
2.79▲
2024 · 2.11
Debt / equity
0.78▼
2024 · 1.20
ROE
5.6%▼
2024 · 40.5%
ROA
3.1%▼
2024 · 18.2%
Interest coverage
7.28▼
2024 · 19.32
Debt
€1.85M▼
2024 · €2.85M
Debt ≤ 1 year
€582k▼
2024 · €1.20M
Debt > 1 year
€1.26M▼
2024 · €1.65M
Income taxes
€44k▼
2024 · €322k
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€5.31M€4.29M▼
Fixed assets21/28€2.79M€2.67M▼
Tangible fixed assets22/27€2.79M€2.67M▼
Plant, machinery and equipment23€2.70M€2.42M▼
Assets under construction and advance payments27€92k€244k▲
Current assets29/58€2.52M€1.62M▼
Amounts receivable within one year40/41€100k€72k▼
Trade receivables40€92k€37k▼
Other amounts receivable41€8k€36k▲
Cash at bank and in hand54/58€2.39M€1.53M▼
Deferred charges and accrued income490/1€25k€18k▼
Equity and liabilities
Total equity and liabilities10/49€5.31M€4.29M▼
Equity10/15€2.39M€2.36M▼
Contributions10/11€1.64M€1.64M=
Capital10€1.64M€1.64M=
Issued capital100€1.64M€1.64M=
Reserves13€106k€116k▲
Non-distributable reserves130/1€106k€116k▲
Legal reserve130€106k€116k▲
Profit (loss) carried forward14€640k€602k▼
Provisions and deferred taxes16€71k€85k▲
Provisions for liabilities and charges160/5€71k€85k▲
Environmental obligations163€71k€85k▲
Amounts payable17/49€2.85M€1.85M▼
Amounts payable after more than one year17€1.65M€1.26M▼
Financial debts170/4€1.65M€1.26M▼
Other loans174€1.65M€1.26M▼
Amounts payable within one year42/48€1.20M€582k▼
Current portion of amounts payable after more than one year42€387k€387k=
Trade debts44€439k€34k▼
Suppliers440/4€439k€34k▼
Taxes, remuneration and social security45€9k-
Taxes450/3€9k-
Other amounts payable47/48€360k€160k▼
Accrued charges and deferred income492/3€13k€11k▼
Income statement
Code20242025
Operating income70/76A€2.21M€827k▼
Turnover70€2.21M€789k▼
Own construction capitalised72-€37k
Other operating income74-€552
Operating charges60/66A€833k€580k▼
Services and other goods61€184k€249k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€433k€277k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€14k€14k=
Other operating charges640/8€202k€1k▼
Non-recurring operating charges66A-€39k
Operating profit (loss)9901€1.37M€247k▼
Financial income75/76B€8k-
Recurring financial income75€8k-
Other financial income752/9€8k-
Financial charges65/66B€94k€72k▼
Recurring financial charges65€94k€72k▼
Debt charges650€94k€72k▼
Profit (loss) for the period before taxes9903€1.29M€175k▼
Income taxes67/77€322k€44k▼
Taxes670/3€322k€44k▼
Tax adjustments and reversals of tax provisions77€300-
Profit (loss) for the period9904€967k€131k▼
Profit (loss) for the period to be appropriated9905€967k€131k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.05M€772k▼
Profit (loss) brought forward from the previous period14P€83k€640k▲
Transfer to equity691/2€50k€10k▼
To the legal reserve6920€50k€10k▼
Profit to be distributed694/7€360k€160k▼
Return on contributions (dividend)694€360k€160k▼
The notes to these accounts (35 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
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
31-03
Financial
Highest result since 2019net €967k ▲183%
Operating result €1.37M, net result €967k, both a record.
31-03
Financial
Equity above €2MEq €2.39M ▲34.1%
5 profitable years in a row build equity to €2.39M.
2023
20-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €12k ▼95.7%
Net result drops to €12k, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 directors, no change since 2022
Dennis Obbels
CurrentDirector · since 07-11-2022
Eneco Wind Belgium
CurrentDirector · since 07-11-2022 · Legal entity · perm. rep.: Steven Van Muylder
Philippe Lambrecht
CurrentDirector · since 07-11-2022
Realfi
CurrentDirector · since 07-11-2022 · Legal entity · perm. rep.: Miguel de Schaetzen
Realfi BV
CurrentManaging director · since 26-09-2022 · Legal entity · perm. rep.: Miguel de Schaetzen
07-11-2022
Dennis Obbels: Appointed as Director
07-11-2022
Eneco Wind Belgium: Appointed as Director
07-11-2022
Philippe Lambrecht: Appointed as Director
07-11-2022
Realfi: Appointed as Director
26-09-2022
Realfi BV: Appointed as Managing director
26-09-2022
Realfi BV: Appointed as Director
01-07-2018
Eneco Wind Belgium NV: Resigned as Permanent representative
01-07-2018
Eneco Wind Belgium NV: Appointed as Permanent representative
14-06-2018
REALFI S.P.R.L.: Resigned as Managing director
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2018
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.
Blarenberglaan 2 C2800 MechelenGround area
4.5 ha
Building footprint
2.0 ha
Volume, LiDAR
206,820 m³
2 parcels, Flanders · tallest building 42.6 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
EnDev-R
since 20182.276.637.015
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402A0053/00F000 | Flanders | 3.5 ha | 1 · 1.9 ha | 11.7 m · 3 fl. |
| 12402A0047/00D000 | Flanders | 1.0 ha | 1 · 1,216 m² | 42.5 m · 7 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.
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Of 816 companies in sector 35110 we hold annual accounts for 632. 396 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded05-06-2018
Fiscal year end31-03
Activities, NACEBEL
35110Production of electricity from non-renewable sources
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:EWBCorporate@eneco.com