Equity
Equity fell by 45% in 6 years.
Equity fell by 45% in 6 years.
€476,289 of the debts are secured on the company's own assets. In 2021 that was €460,000.
Mortgages, new in 2025. 1.8 times equity · not in the 2024 accounts.
Between 2024 and 2025, 52% of the full-time equivalents disappeared.
The 2018 accounts came latest: 213 days after the end of the period.
Lower solvency than 84% of companies in wholesale trade. Sector median 42.9% · 9,886 companies.
The dashed line is the sector median: 0.4% across 26,895 companies (NACE 46, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 21% of them on solvency, 46% on liquidity, 57% on profitability and 88% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,375 companies had the same profile as ENERGY REMODELING has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ENERGY REMODELING itself: 1.5% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,375 companies, not a prediction for ENERGY REMODELING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.5 (0.67 in 2024), below 1. Short-term debt is 47.4% and cash 16.3% of total assets. 93.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 38 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| ENERGY REMODELING Olen | €1.3m | €0.5m | 6.6% | 6.9 |
| By Eve Wuustwezel | €1.0m | €0.6m | 93.1% | 6.2 |
| Lumosa Belux Temse | €1.0m | €0.3m | -7.1% | 6.4 |
| KEY4LIGHT Lasne | €1.3m | €0.7m | 18.7% | 6.2 |
| VIVALYTE Wevelgem | €1.4m | €0.4m | 37.0% | 6.7 |
| SLD Solutions Izegem | €1.6m | €1.1m | 30.5% | 6.4 |
| EVERON LIGHTING TECHNOLOGIES Heusden-Zolder | €1.5m | €0.5m | 46.0% | 4.4 |
These companies have the same main activity as ENERGY REMODELING: wholesale trade (NACE 46474). They are comparable in size and age: total assets between €964,000 and €1.6m, founded between 2012 and 2018.
ENERGY REMODELING files the abbreviated format. That format states no turnover. The gross margin rose from €18,228 in 2017 to €499,065 in 2025.
The balance sheet grew most from 2020 to 2022 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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