ENHESA

Active

Public limited companyfounded 200125 yrs activeLouizalaan 287, 1050 Elsene, BelgiumKBO/BCE: BE 0474.389.386

Summary

ENHESA has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51.2m and a net result of €15.0m. Equity is growing by ~105.4% per year across the filed fiscal years. Its solvency ranks better than 32% of 669 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch Report Compare

ENHESAActiveChecked score 95/100

Risk analysis Report Compare

Activity

Other membership organisations

NACE 94999Engineering and related technical consultancy, excluding land surveyors NACE 71121NACE 74203

#2 company by total assets in Elsene, Other services sector1 site

Size

€37.0mturnover 2025

Staff: 92.7 FTE
Equity: €51.2m
Profit: €15.0m

Financial health

95 Excellent Checked score 2025

Bankruptcy chance 12 m: 0.1%

Structure

Parent: ENHESA GROUP · 100%
Board: 1 member
Holdings: 4

Auditor: Ernst et Young Reviseurs d'EntreprisesAccounts 29 d early

Why 95- Liquidity: current ratio 2.21, cash €677,801+ Sector Activities of membership organisations (NACE 94)+ Size: turnover €37.0m, 92.7 FTE, total assets €118.7m+ Figures for FY 2025 (filed 02-07-2026)Show the evidence

Checked score

Score 2025

95 / 100

Excellent

Probability in this band: under 0.55%

Better than 57% of its sector peers (NACE 94, medium-sized)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2024

Strong

Solvency 68=

equity 43.1% of total assets

Liquidity 49+13

short-term debt 12.6% · cash 0.6%

Profitability 90+8

return on assets 12.6%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median < 0.1% (75 companies)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▼ -4.5% vs 01-2025 03-2025: 0.1%▲ +14.1% vs 02-2025 04-2025: 0.1%● 0.0% vs 03-2025 05-2025: 0.2%▲ +3.4% vs 04-2025 06-2025: 0.2%▲ +1.3% vs 05-2025 07-2025: 0.2%▲ +17.6% vs 06-2025highest value 08-2025: 0.1%▼ -64.4% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%▼ -4.7% vs 01-2026lowest value 03-2026: 0.1%▲ +14.8% vs 02-2026 04-2026: 0.1%▲ +10.0% vs 03-2026 05-2026: 0.1%▲ +2.6% vs 04-2026 06-2026: 0.1%▲ +1.3% vs 05-2026 07-2026: 0.1%▲ +7.5% vs 06-2026 08-2026: 0.1%▼ -29.1% vs 07-2026lowest value 09-2026: 0.1%● 0.0% vs 08-2026lowest value 10-2026: 0.1%● 0.0% vs 09-2026lowest value

Liquidity: current ratio 2.21, cash €677,801 raises the probability
Sector Activities of membership organisations (NACE 94) lowers the probability
Size: turnover €37.0m, 92.7 FTE, total assets €118.7m lowers the probability for this profile
Figures for FY 2025 (filed 02-07-2026) lowers the probability

Credit up to €3,700,000 at 30 days acceptable

Liquidity ample (current ratio 2.21 against 1.2 in 2024; short-term debt: 12.6% and cash: 0.6% of total assets), but 56.9% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 94, medium-sized). Better than this share of them on solvency 41%, liquidity 20%, profitability 93%, growth against the median 75%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Liquidity: current ratio 2.21, cash €677,801

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Sector Activities of membership organisations (NACE 94)

In the bankruptcy model this factor lowers the probability.

KBO

Size: turnover €37.0m, 92.7 FTE, total assets €118.7m

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Figures for FY 2025 (filed 02-07-2026)

In the bankruptcy model this factor lowers the probability.

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

29 d early

2024

31 d early

2023

5 d early

2022

4 d late

2021

78 d late

2020

59 d late

2019

1 d early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% of the sector filed late.

Checked, nothing found (2)

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. Usually files around 27 July (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

03-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

02-07-26 Annual accounts filedfiscal year 2025 · full…
05-06-26 Appointment: Filip Simpelaere (vertegenwoordiger van de…Permanent representative: Filip Simpelaere
31-12-25 Highest result since 2018net €15.0m ▲246%

Key points

Positive: Result rose in 2025from €4.3m to €15.0m ▲ 246% View
Positive: Among the best 5% on net resultsector median €11,577 · 673 companies €15.0m View
Positive: 7 years of growth in a rowturnover 2025: €37.0m 7 years View
Controlled by ENHESA GROUPultimately: Magic Midco 100% View