EPICO
ActiveSummary
EPICO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€306,543) and a net result of -€107,371. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 5% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.07 against 0.21 in 2024; short-term debt: 286% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-232.8%
Return on assets
-81.6%
Age of the figures
14 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€306,543
neutral · Filed after the deadline
The financial year that closed on 31-07-2025 was due by 28-02-2026 and was filed on 16-03-2026, 16 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
16 d late
2024
4 d late
2023
3 d early
2022
1 d early
2021
75 d early
2020
34 d early
2019
33 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 18 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-07-2026 and is due by 28-02-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-07-2026 close27-09-2026 today28-02-2027 deadline
History
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€306,543▼ 53.9%
2024 · -€199,172
Total assets
€131,652▼ 25.7%
2024 · €177,207
Net result
-€107,371▼ 108%
2024 · -€51,734
Working capital
-€351,378▼ 50.0%
2024 · -€234,234
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€2,588€38,893-€564-€50,857▼ 8,924%-€101,714▼ 100%
Net result-€2,633below the sector's middle half€38,837above the sector's middle half-€608within the sector's middle half-€51,734below the sector's middle half▼ 8,408%-€107,371below the sector's middle half▼ 108%
Equity-€235,667below the sector's middle half▼ 1.1%-€196,830below the sector's middle half▲ 16.5%-€197,438below the sector's middle half▼ 0.3%-€199,172below the sector's middle half▼ 0.9%-€306,543below the sector's middle half▼ 53.9%
Total assets€1,834below the sector's middle half▼ 12.3%€107below the sector's middle half▼ 94.2%€19below the sector's middle half▼ 82.4%€177,207within the sector's middle half▲ 940,489%€131,652within the sector's middle half▼ 25.7%
Debt€237,500▲ 1.0%€196,937▼ 17.1%€197,457▲ 0.3%€376,379▲ 90.6%€438,195▲ 16.4%
Working capital-€234,980▼ 0.8%-€196,830▲ 16.2%-€197,438▼ 0.3%-€234,234▼ 18.6%-€351,378▼ 50.0%
Solvency-112.4%below the sector's middle half-232.8%below the sector's middle half▼ 120.4pp
Staff (FTE)1
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €101,714 in 2025 against €50,857 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131,652
Fixed assets
€106,502 ▼ 8.2%
Current assets
€25,149 ▼ 58.9%
Key figures and ratios
EBITDA
-€82,434▼
2024 · -€48,984
Cash flow
-€88,091▼
2024 · -€49,862
Current ratio
0.07▼
2024 · 0.21
Quick ratio
0.01▼
2024 · 0.13
Debt to equity
-1.43▲
2024 · -1.89
ROA
-81.6%▼
2024 · -29.2%
Interest coverage
-14.57▲
2024 · -55.80
Debt ≤ 1 year
€376,527▲
2024 · €295,372
Debt > 1 year
€61,668▼
2024 · €81,007
Staff costs
€24,730
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €24,730 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1,872 | €19,280 | ▲ 930% |
| Other operating charges640/8 | - | €300 | - | €7,532 | €573 | ▼ 92.4% |
| Gross operating margin9900 | -€2,588 | €39,193 | -€564 | -€41,452 | -€57,131 | ▼ 37.8% |
| Operating profit (loss)9901 | -€2,588 | €38,893 | -€564 | -€50,857 | -€101,714 | ▼ 100% |
| Financial income75/76B | - | - | - | - | €1 | - |
| Recurring financial income75 | - | - | - | - | €1 | - |
| Financial charges65/66B | - | €56 | €45 | €878 | €5,658 | ▲ 545% |
| Recurring financial charges65 | €45 | €56 | €45 | €878 | €5,658 | ▲ 545% |
| Profit (loss) for the period before taxes9903 | -€2,633 | €38,837 | -€608 | -€51,734 | -€107,371 | ▼ 108% |
| Profit (loss) for the period9904 | -€2,633 | €38,837 | -€608 | -€51,734 | -€107,371 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | -€2,633 | €38,837 | -€608 | -€51,734 | -€107,371 | ▼ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1,834 | €107 | €19 | €177,207 | €131,652 | ▼ 25.7% |
| Fixed assets21/28 | - | €0 | - | €116,069 | €106,502 | ▼ 8.2% |
| Tangible fixed assets22/27 | - | €0 | - | €116,069 | €106,502 | ▼ 8.2% |
| Land and buildings22 | - | - | - | €8,826 | €7,936 | ▼ 10.1% |
| Plant, machinery and equipment23 | - | - | - | €106,281 | €97,804 | ▼ 8.0% |
| Furniture and vehicles24 | - | €0 | - | €962 | €762 | ▼ 20.8% |
| Current assets29/58 | €1,834 | €107 | €19 | €61,138 | €25,149 | ▼ 58.9% |
| Stocks and contracts in progress3 | - | - | - | €22,485 | €22,485 | = |
| Stocks30/36 | - | - | - | €22,485 | €22,485 | = |
| Amounts receivable within one year40/41 | €1,676 | €0 | - | €35,589 | €2,646 | ▼ 92.6% |
| Trade receivables40 | - | - | - | €2,209 | €230 | ▼ 89.6% |
| Other amounts receivable41 | - | €0 | - | €33,379 | €2,416 | ▼ 92.8% |
| Cash at bank and in hand54/58 | €158 | €107 | €19 | €3,065 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €19 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1,834 | €107 | €19 | €177,207 | €131,652 | ▼ 25.7% |
| Equity10/15 | -€235,667 | -€196,830 | -€197,438 | -€199,172 | -€306,543 | ▼ 53.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €68,592 | €68,592 | = |
| Reserves13 | €15,859 | €15,859 | €15,859 | €15,859 | €15,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Profit (loss) carried forward14 | -€270,118 | -€231,281 | -€231,889 | -€283,623 | -€390,994 | ▼ 37.9% |
| Amounts payable17/49 | €237,500 | €196,937 | €197,457 | €376,379 | €438,195 | ▲ 16.4% |
| Amounts payable after more than one year17 | - | - | - | €81,007 | €61,668 | ▼ 23.9% |
| Financial debts170/4 | - | - | - | €81,007 | €61,668 | ▼ 23.9% |
| Amounts payable within one year42/48 | €236,813 | €196,937 | €197,457 | €295,372 | €376,527 | ▲ 27.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €18,484 | €19,340 | ▲ 4.6% |
| Financial debts43 | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | €0 | - | - | - | - |
| Trade debts44 | €1,321 | €1,321 | €605 | €29,950 | €70,715 | ▲ 136% |
| Suppliers440/4 | - | €1,321 | €605 | €29,950 | €70,715 | ▲ 136% |
| Taxes, remuneration and social security45 | - | €300 | €195 | €15,258 | - | - |
| Taxes450/3 | - | €300 | €195 | €15,258 | - | - |
| Other amounts payable47/48 | - | €195,316 | €196,657 | €231,679 | €286,472 | ▲ 23.7% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,633 | €38,837 | -€608 | -€51,734 | -€107,371 | ▼ 108% |
| + Depreciation and write-downs630 | - | - | - | €1,872 | €19,280 | ▲ 930% |
| Operating cash flow (approximation) | -€2,633 | €38,837 | -€608 | -€49,862 | -€88,091 | ▼ 76.7% |
| Investment in fixed assets (approximation) | - | - | - | - | -€9,713 | - |
| Change in cash | - | -€51 | -€88 | €3,046 | - | - |
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
16-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 16 days late
2025
31-07
Financial
Weakest financial yearnet -€107,371
Net result drops to -€107,371, the lowest in the series.
04-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-07
Financial
Back to profitnet €38,837
Net result €38,837 after one loss-making year.
2021
15-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
25-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
Financial
Back to profitnet €2,758
Net result €2,758 after one loss-making year.
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
13-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
06-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Arlon · 1 establishment unit since 1998
Ground area
306 m²
Building footprint
70 m²
Volume, LiDAR
381 m³
Parcel 81005B0476/00N000, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Maison Félix
since 19982.087.188.788
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81005B0476/00N000 | Wallonia | 305 m² | 1 · 70 m² | 8.8 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 6,495 companies in sector 47716 we hold annual accounts for 2,440. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-06-1998
Fiscal year end31-07
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463410372
Also
9925:BE0463410372
Registered
31-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.