EPCAL
ActiveSummary
EPCAL has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €119k and a net result of €193. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 88% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+11
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 5.25 against 3.64 in 2024; short-term debt: 7.6% and cash: 15% of total assets), and 14.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
85.2%
Return on assets
0.1%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-07-2026, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
13 d early
2024
57 d early
2023
58 d early
2022
83 d early
2021
77 d early
2020
74 d early
2019
21 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€119k▲ 0.2%
2024 · €119k
2018: €9klowest in 8 years
2019: €21k▲ +131% vs 2018
2020: €64k▲ +198% vs 2019
2021: €78k▲ +21.8% vs 2020
2022: €135k▲ +72.8% vs 2021highest in 8 years
2023: €127k▼ -6.0% vs 2022
2024: €119k▼ -6.2% vs 2023
2025: €119k▲ +0.2% vs 2024
2018 → 2025
Total assets
€140k▼ 5.2%
2024 · €148k
2018: €175k
2019: €159k▼ -9.1% vs 2018
2020: €185k▲ +16.4% vs 2019
2021: €209k▲ +12.9% vs 2020highest in 8 years
2022: €158k▼ -24.5% vs 2021
2023: €134k▼ -15.1% vs 2022lowest in 8 years
2024: €148k▲ +10.1% vs 2023
2025: €140k▼ -5.2% vs 2024
2018 → 2025
Net result
€193
2024 · €-8k
2018: €-11klowest in 8 years
2019: €12k▲ +208% vs 2018
2020: €44k▲ +262% vs 2019
2021: €15k▼ -64.8% vs 2020
2022: €62k▲ +300% vs 2021highest in 8 years
2023: €-8k▼ -113% vs 2022
2024: €-8k▲ +2.9% vs 2023
2025: €193▲ +102% vs 2024
2018 → 2025
Working capital
€45k▲ 38.8%
2024 · €33k
2018: €7klowest in 8 years
2019: €16k▲ +124% vs 2018
2020: €71k▲ +336% vs 2019
2021: €87k▲ +22.9% vs 2020highest in 8 years
2022: €49k▼ -44.1% vs 2021
2023: €51k▲ +4.7% vs 2022
2024: €33k▼ -36.1% vs 2023
2025: €45k▲ +38.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€78k-€135k▲ 72.8%€127k▼ 6.0%€119k▼ 6.2%€119k▲ 0.2%
2021: €78klowest in 5 years
2022: €135k▲ +72.8% vs 2021highest in 5 years
2023: €127k▼ -6.0% vs 2022
2024: €119k▼ -6.2% vs 2023
2025: €119k▲ +0.2% vs 2024
Operating result€28k-€90k▲ 220%€-10k€-9k▲ 4.5%€90
2021: €28k
2022: €90k▲ +220% vs 2021highest in 5 years
2023: €-10k▼ -111% vs 2022lowest in 5 years
2024: €-9k▲ +4.5% vs 2023
2025: €90▲ +101% vs 2024
Net result€15k-€62k▲ 300%€-8k€-8k▲ 2.9%€193
2021: €15k
2022: €62k▲ +300% vs 2021highest in 5 years
2023: €-8k▼ -113% vs 2022lowest in 5 years
2024: €-8k▲ +2.9% vs 2023
2025: €193▲ +102% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €90 after a loss of €9k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€84k ▼ 18.2%
Current assets
€56k ▲ 24.5%
Equity and liabilities €140k
Equity
€119k ▲ 0.2%
Debt
€21k ▼ 27.6%
Debt's share of the balance-sheet total falls from 19.4% to 14.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19k▲
2024 · €6k
Cash flow
€19k▲
2024 · €7k
Current ratio
5.25▲
2024 · 3.64
Quick ratio
4.34▲
2024 · 3.39
Debt to equity
0.17▼
2024 · 0.24
ROE
0.2%▲
2024 · -6.6%
ROA
0.1%▲
2024 · -5.3%
Interest coverage
17.82▲
2024 · 5.55
Debt ≤ 1 year
€11k▼
2024 · €12k
Debt > 1 year
€10k▼
2024 · €16k
Income taxes
€678▲
2024 · €89
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€148k€140k▼
Fixed assets21/28€103k€84k▼
Tangible fixed assets22/27€103k€84k▼
Land and buildings22€62k€53k▼
Plant, machinery and equipment23€869€635▼
Furniture and vehicles24€40k€30k▼
Current assets29/58€45k€56k▲
Stocks and contracts in progress3€3k€10k▲
Stocks30/36€3k€10k▲
Amounts receivable within one year40/41€254€4k▲
Trade receivables40-€967
Other amounts receivable41€254€3k▲
Current investments50/53€20k€20k=
Cash at bank and in hand54/58€20k€21k▲
Deferred charges and accrued income490/1€1k€1k▼
Equity and liabilities
Total equity and liabilities10/49€148k€140k▼
Equity10/15€119k€119k▲
Contributions10/11€19k€19k=
Reserves13€116k€116k=
Distributable reserves133€116k€116k=
Profit (loss) carried forward14€-16k€-15k▲
Amounts payable17/49€29k€21k▼
Amounts payable after more than one year17€16k€10k▼
Financial debts170/4€16k€10k▼
Amounts payable within one year42/48€12k€11k▼
Current portion of amounts payable after more than one year42€6k€6k▲
Trade debts44€389€972▲
Suppliers440/4€389€972▲
Taxes, remuneration and social security45€975€0▼
Taxes450/3€975€0▼
Other amounts payable47/48€5k€3k▼
Accrued charges and deferred income492/3€93€133▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€19k▲
Other operating charges640/8€5k€3k▼
Gross operating margin9900€11k€22k▲
Operating profit (loss)9901€-9k€90▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€-8k€871▲
Income taxes67/77€89€678▲
Profit (loss) for the period9904€-8k€193▲
Profit (loss) for the period to be appropriated9905€-8k€193▲
Appropriation of the result
Profit (loss) to be appropriated9906€-16k€-15k▲
Profit (loss) brought forward from the previous period14P€-8k€-16k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €10k | €10k | €15k | €19k | ▲ 24.4% |
| Other operating charges640/8 | €5k | €3k | €8k | €5k | €3k | ▼ 47.3% |
| Gross operating margin9900 | €43k | €104k | €9k | €11k | €22k | ▲ 89.7% |
| Operating profit (loss)9901 | €28k | €90k | €-10k | €-9k | €90 | ▲ 101% |
| Financial income75/76B | €8 | €167 | €129 | €2k | €2k | ▼ 23.2% |
| Recurring financial income75 | €8 | €167 | €129 | €2k | €2k | ▼ 23.2% |
| Financial charges65/66B | €4k | €4k | €901 | €1k | €1k | ▼ 1.7% |
| Recurring financial charges65 | €4k | €4k | €901 | €1k | €1k | ▼ 1.7% |
| Profit (loss) for the period before taxes9903 | €24k | €87k | €-10k | €-8k | €871 | ▲ 111% |
| Income taxes67/77 | €9k | €25k | €-2k | €89 | €678 | ▲ 657% |
| Profit (loss) for the period9904 | €15k | €62k | €-8k | €-8k | €193 | ▲ 102% |
| Profit (loss) for the period to be appropriated9905 | €15k | €62k | €-8k | €-8k | €193 | ▲ 102% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €209k | €158k | €134k | €148k | €140k | ▼ 5.2% |
| Fixed assets21/28 | €95k | €86k | €76k | €103k | €84k | ▼ 18.2% |
| Tangible fixed assets22/27 | €95k | €86k | €76k | €103k | €84k | ▼ 18.2% |
| Land and buildings22 | €87k | €79k | €70k | €62k | €53k | ▼ 13.6% |
| Plant, machinery and equipment23 | €754 | €536 | €318 | €869 | €635 | ▼ 27.0% |
| Furniture and vehicles24 | €7k | €7k | €5k | €40k | €30k | ▼ 25.2% |
| Other tangible fixed assets26 | €0 | - | - | - | - | - |
| Current assets29/58 | €114k | €72k | €58k | €45k | €56k | ▲ 24.5% |
| Stocks and contracts in progress3 | €7k | €0 | - | €3k | €10k | ▲ 210% |
| Stocks30/36 | €7k | €0 | - | €3k | €10k | ▲ 210% |
| Amounts receivable within one year40/41 | €18k | €19k | €0 | €254 | €4k | ▲ 1,405% |
| Trade receivables40 | €12k | €590 | €0 | - | €967 | - |
| Other amounts receivable41 | €6k | €18k | €0 | €254 | €3k | ▲ 1,023% |
| Current investments50/53 | - | - | €40k | €20k | €20k | = |
| Cash at bank and in hand54/58 | €87k | €52k | €18k | €20k | €21k | ▲ 4.3% |
| Deferred charges and accrued income490/1 | €2k | €693 | €583 | €1k | €1k | ▼ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €209k | €158k | €134k | €148k | €140k | ▼ 5.2% |
| Equity10/15 | €78k | €135k | €127k | €119k | €119k | ▲ 0.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €59k | €116k | €116k | €116k | €116k | = |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €57k | €114k | €116k | €116k | €116k | = |
| Profit (loss) carried forward14 | €396 | €244 | €-8k | €-16k | €-15k | ▲ 1.2% |
| Amounts payable17/49 | €131k | €23k | €7k | €29k | €21k | ▼ 27.6% |
| Amounts payable after more than one year17 | €100k | €0 | - | €16k | €10k | ▼ 38.7% |
| Financial debts170/4 | €100k | €0 | - | €16k | €10k | ▼ 38.7% |
| Amounts payable within one year42/48 | €27k | €23k | €7k | €12k | €11k | ▼ 13.5% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | €6k | €6k | ▲ 4.4% |
| Trade debts44 | €2k | €229 | €605 | €389 | €972 | ▲ 150% |
| Suppliers440/4 | €2k | €229 | €605 | €389 | €972 | ▲ 150% |
| Taxes, remuneration and social security45 | €15k | €7k | €2k | €975 | €0 | ▼ 100% |
| Taxes450/3 | €15k | €7k | €2k | €975 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €9k | €15k | €5k | €5k | €3k | ▼ 30.7% |
| Accrued charges and deferred income492/3 | €4k | €0 | €78 | €93 | €133 | ▲ 42.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €62k | €-8k | €-8k | €193 | ▲ 102% |
| + Depreciation and write-downs630 | €10k | €10k | €10k | €15k | €19k | ▲ 24.4% |
| Operating cash flow (approximation) | €25k | €72k | €2k | €7k | €19k | ▲ 163% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €-42k | €0 | ▲ 100% |
| Change in cash | - | €-35k | €-35k | €2k | €875 | ▼ 63.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €193
Net result €193 after 2 loss-making years.
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 8.15
Current ratio from 3.13 to 8.15; short-term debt falls from €23k to €7k.
09-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €62k ▲300%
Operating result €90k, net result €62k, both a record.
31-12
Financial
Equity above €100kEq €135k ▲72.8%
4 profitable years in a row build equity to €135k.
15-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
18-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 5.05
Current ratio from 1.52 to 5.05; short-term debt falls from €31k to €18k.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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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, Londerzeel · 1 establishment unit since 2012
Ground area
2,798 m²
Building footprint
173 m²
Volume, LiDAR
1,022 m³
Parcel 23045B0496/00E000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EPCAL
since 20122.209.309.810
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23045B0496/00E000 | Flanders | 2,798 m² | 1 · 173 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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 · 4 entries · 503 EUR awarded · 503 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 81 EUR | 81 EUR |
| 2024 | 1 | 240 EUR | 240 EUR |
| 2023 | 1 | 113 EUR | 113 EUR |
| 2022 | 1 | 69 EUR | 69 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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BE 1007.043.904
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Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 3,933 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
43211General electrical installation work
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.