EPSILON
ActiveSummary
EPSILON has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of -€2,479. Equity is shrinking by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 61% of 4231 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-23
Solvency71▲+3
Growth37=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity tight (current ratio 1.39 against 1.3 in 2024; short-term debt: 52.7% and cash: 1.8% of total assets), and 53.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
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
46.1%
Return on assets
-0.1%
Age of the figures
9 mo
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
15 d early
2023
30 d early
2022
28 d early
2021
4 d late
2020
3 d early
2019
4 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 13 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 16 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?Teweka · 71 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#8 fastest grower in Grimbergen#8 employer in Grimbergen, Wholesale and retail trade sector
Turnover
€8.4m▼ 6.9%
2021 · €9.0m
EBIT margin
6.5%▼ 1.3pp
2021 · 7.8%
Net result
-€2,479
2024 · €124,071
Working capital
€846,660▲ 14.1%
2024 · €741,788
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
Turnover€9.0m▼ 2.6%€8.4m▼ 6.9%
Operating result€703,289▼ 25.3%€541,493▼ 23.0%€583,897▲ 7.8%€130,989▼ 77.6%-€32,168
Net result€518,852above the sector's middle half▼ 26.6%€396,823above the sector's middle half▼ 23.5%€493,361above the sector's middle half▲ 24.3%€124,071above the sector's middle half▼ 74.9%-€2,479within the sector's middle half
EBIT margin7.8%▼ 2.4pp6.5%▼ 1.3pp
Equity€1.7mabove the sector's middle half▼ 52.7%€2.1mabove the sector's middle half▲ 22.9%€1.8mabove the sector's middle half▼ 16.7%€1.9mabove the sector's middle half▲ 7.0%€1.9mabove the sector's middle half▼ 0.1%
Total assets€2.6mabove the sector's middle half▼ 45.2%€2.8mabove the sector's middle half▲ 8.8%€2.5mabove the sector's middle half▼ 12.1%€4.4mabove the sector's middle half▲ 77.4%€4.1mabove the sector's middle half▼ 6.0%
Debt€846,338▼ 18.7%€676,036▼ 20.1%€693,042▲ 2.5%€2.5m▲ 258%€2.2m▼ 10.5%
Working capital€1.4mabove the sector's middle half▼ 57.7%€1.9mabove the sector's middle half▲ 30.6%€1.6mabove the sector's middle half▼ 16.3%€741,788above the sector's middle half▼ 52.6%€846,660above the sector's middle half▲ 14.1%
Solvency67.2%above the sector's middle half▼ 10.7pp75.9%above the sector's middle half▲ 8.7pp71.9%above the sector's middle half▼ 4.0pp43.4%within the sector's middle half▼ 28.5pp46.1%within the sector's middle half▲ 2.7pp
Current ratio2.75above the sector's middle half▼ 1.783.85above the sector's middle half▲ 1.113.31above the sector's middle half▼ 0.541.30within the sector's middle half▼ 2.011.39within the sector's middle half▲ 0.09
Return on assets (ROA)20.1%above the sector's middle half▲ 5.1pp14.1%above the sector's middle half▼ 6.0pp20.0%above the sector's middle half▲ 5.9pp2.8%within the sector's middle half▼ 17.2pp-0.1%within the sector's middle half▼ 2.9pp
Staff (FTE)19.8above the sector's middle half▲ 2.1%19.1above the sector's middle half▼ 3.5%19above the sector's middle half▼ 0.5%22.3above the sector's middle half▲ 17.4%25.5above the sector's middle half▲ 14.3%
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.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €32,168 after €130,989 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€1.1m ▼ 8.2%
Current assets
€3.0m ▼ 5.2%
Equity and liabilities €4.1m
Equity
€1.9m ▼ 0.1%
Debt
€2.2m ▼ 10.5%
Debt's share of the balance-sheet total falls from 56.6% to 53.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€207,695▼
2024 · €273,439
Cash flow
€237,384▼
2024 · €266,522
Quick ratio
0.06▼
2024 · 0.12
Debt to equity
1.17▼
2024 · 1.31
ROE
-0.1%▼
2024 · 6.5%
Interest coverage
3.12▼
2024 · 5.53
Debt ≤ 1 year
€2.2m▼
2024 · €2.4m
Debt > 1 year
€31,162▲
2024 · €21,675
Income taxes
-€8,911▼
2024 · €57,911
Staff costs
€1.3m▲
2024 · €1.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 8,611 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €9.0m | €8.4m | - | - | - | - |
| Turnover70 | €9.0m | €8.4m | - | - | - | - |
| Other operating income74 | €18,451 | €3,454 | - | - | - | - |
| Operating charges60/66A | €8.3m | €7.8m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | €5.7m | €5.2m | - | - | - | - |
| Purchases600/8 | €6.1m | €5.3m | - | - | - | - |
| Change in stocks: decrease (increase)609 | -€364,381 | -€63,901 | - | - | - | - |
| Services and other goods61 | €1.5m | €1.5m | - | - | - | - |
| Remuneration, social security and pensions62 | €838,766 | €812,111 | €853,886 | €1.0m | €1.3m | ▲ 27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,266 | €90,527 | €82,301 | €142,450 | €239,863 | ▲ 68.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€3,687 | €20,919 | €6,568 | -€6,926 | €13,853 | ▲ 300% |
| Other operating charges640/8 | €143,143 | €133,469 | €74,709 | €113,492 | €93,655 | ▼ 17.5% |
| Gross operating margin9900 | - | - | €1.6m | €1.4m | €1.6m | ▲ 15.5% |
| Operating profit (loss)9901 | €703,289 | €541,493 | €583,897 | €130,989 | -€32,168 | ▼ 125% |
| Financial income75/76B | €5,185 | €8,934 | €97,146 | €100,424 | €87,427 | ▼ 12.9% |
| Recurring financial income75 | €5,185 | €8,934 | €97,146 | €100,374 | €87,427 | ▼ 12.9% |
| Income from current assets751 | - | €921 | - | - | - | - |
| Other financial income752/9 | €5,185 | €8,013 | - | - | - | - |
| Non-recurring financial income76B | - | - | - | €50 | - | - |
| Financial charges65/66B | €14,973 | €18,285 | €16,975 | €49,430 | €66,649 | ▲ 34.8% |
| Recurring financial charges65 | €14,973 | €18,285 | €16,905 | €49,430 | €66,649 | ▲ 34.8% |
| Debt charges650 | €128 | €29 | - | - | - | - |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | €0 | - | - | - | - |
| Other financial charges652/9 | €14,844 | €18,256 | - | - | - | - |
| Non-recurring financial charges66B | - | €0 | €70 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €693,501 | €532,143 | €664,068 | €181,982 | -€11,390 | ▼ 106% |
| Income taxes67/77 | €174,649 | €135,320 | €170,707 | €57,911 | -€8,911 | ▼ 115% |
| Taxes670/3 | €174,649 | €135,320 | - | - | - | - |
| Profit (loss) for the period9904 | €518,852 | €396,823 | €493,361 | €124,071 | -€2,479 | ▼ 102% |
| Profit (loss) for the period to be appropriated9905 | €518,852 | €396,823 | €493,361 | €124,071 | -€2,479 | ▼ 102% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €2.8m | €2.5m | €4.4m | €4.1m | ▼ 6.0% |
| Formation expenses20 | - | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €327,987 | €280,735 | €225,007 | €1.2m | €1.1m | ▼ 8.2% |
| Intangible fixed assets21 | - | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €326,002 | €278,750 | €223,022 | €1.2m | €1.1m | ▼ 8.2% |
| Land and buildings22 | - | - | - | - | €20,315 | - |
| Plant, machinery and equipment23 | €70,254 | €65,110 | €50,511 | €462,898 | €363,082 | ▼ 21.6% |
| Furniture and vehicles24 | €22,767 | €21,458 | €12,414 | €82,737 | €67,391 | ▼ 18.5% |
| Leasing and similar rights25 | €7,346 | €0 | - | €36,957 | €64,773 | ▲ 75.3% |
| Other tangible fixed assets26 | €225,635 | €192,182 | €160,097 | €611,769 | €580,693 | ▼ 5.1% |
| Financial fixed assets28 | €1,986 | €1,986 | €1,986 | €1,986 | €1,986 | = |
| Other financial fixed assets284/8 | €1,986 | €1,986 | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €1,986 | €1,986 | - | - | - | - |
| Current assets29/58 | €2.3m | €2.5m | €2.2m | €3.2m | €3.0m | ▼ 5.2% |
| Stocks and contracts in progress3 | €2.1m | €2.1m | €2.0m | €2.9m | €2.9m | ▼ 0.8% |
| Stocks30/36 | €2.1m | €2.1m | €2.0m | €2.9m | €2.9m | ▼ 0.8% |
| Goods purchased for resale34 | €2.1m | €2.1m | - | - | - | - |
| Amounts receivable within one year40/41 | €69,339 | €297,812 | €144,407 | €167,299 | €52,959 | ▼ 68.3% |
| Trade receivables40 | €16,208 | €15,827 | €56,229 | €48,308 | €17,959 | ▼ 62.8% |
| Other amounts receivable41 | €53,131 | €281,985 | €88,178 | €118,991 | €35,000 | ▼ 70.6% |
| Cash at bank and in hand54/58 | €70,221 | €76,747 | €97,968 | €100,302 | €74,423 | ▼ 25.8% |
| Deferred charges and accrued income490/1 | €9,068 | €4,859 | €11,835 | €13,129 | €11,130 | ▼ 15.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €2.8m | €2.5m | €4.4m | €4.1m | ▼ 6.0% |
| Equity10/15 | €1.7m | €2.1m | €1.8m | €1.9m | €1.9m | ▼ 0.1% |
| Contributions10/11 | €896,946 | €896,946 | €896,946 | €896,946 | €896,946 | = |
| Capital10 | €896,946 | €896,946 | €896,946 | €896,946 | €896,946 | = |
| Issued capital100 | €896,946 | €896,946 | €896,946 | €896,946 | €896,946 | = |
| Revaluation surpluses12 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €89,695 | €89,695 | €89,695 | €89,695 | €89,695 | = |
| Non-distributable reserves130/1 | €89,695 | €89,695 | €89,695 | €89,695 | €89,695 | = |
| Legal reserve130 | €89,695 | €89,695 | €89,695 | €89,695 | €89,695 | = |
| Profit (loss) carried forward14 | €545,877 | €942,699 | €586,060 | €710,132 | €707,653 | ▼ 0.3% |
| Amounts payable17/49 | €846,338 | €676,036 | €693,042 | €2.5m | €2.2m | ▼ 10.5% |
| Amounts payable after more than one year17 | - | €0 | - | €21,675 | €31,162 | ▲ 43.8% |
| Financial debts170/4 | - | €0 | - | €21,675 | €31,162 | ▲ 43.8% |
| Leasing and similar obligations172 | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €819,726 | €654,970 | €676,071 | €2.4m | €2.2m | ▼ 11.1% |
| Current portion of amounts payable after more than one year42 | €3,581 | €0 | - | €12,875 | €25,507 | ▲ 98.1% |
| Trade debts44 | €579,527 | €450,418 | €490,096 | €766,870 | €550,448 | ▼ 28.2% |
| Suppliers440/4 | €579,527 | €450,418 | €490,096 | €766,870 | €550,448 | ▼ 28.2% |
| Advances received on contracts in progress46 | €13,633 | €10,049 | €14,691 | €11,799 | €10,180 | ▼ 13.7% |
| Taxes, remuneration and social security45 | €219,307 | €194,502 | €171,285 | €163,349 | €228,681 | ▲ 40.0% |
| Taxes450/3 | €34,801 | €45,804 | €33,960 | - | €44,189 | - |
| Remuneration and social security454/9 | €184,506 | €148,698 | €137,324 | €163,349 | €184,492 | ▲ 12.9% |
| Other amounts payable47/48 | €3,678 | €0 | - | €1.5m | €1.4m | ▼ 8.7% |
| Accrued charges and deferred income492/3 | €26,612 | €21,066 | €16,971 | €19,688 | €19,445 | ▼ 1.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €518,852 | €396,823 | €493,361 | €124,071 | -€2,479 | ▼ 102% |
| + Depreciation and write-downs630 | €82,266 | €90,527 | €82,301 | €142,450 | €239,863 | ▲ 68.4% |
| Operating cash flow (approximation) | €601,118 | €487,349 | €575,662 | €266,522 | €237,384 | ▼ 10.9% |
| Investment in fixed assets (approximation) | - | -€43,275 | -€26,573 | -€1.1m | -€141,756 | ▲ 87.3% |
| Change in cash | - | €6,527 | €21,221 | €2,334 | -€25,879 | ▼ 1,209% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€2,479
Net result drops to -€2,479, the lowest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €2mEq €2.1m ▲22.9%
5 profitable years in a row build equity to €2.1m.
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 4 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €707,074 ▲109%
Operating result €941,490, net result €707,074, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-07
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 8 acts read
About the unread acts
We know of 8 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
8 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, Grimbergen · 3 establishment units since 1975
Ground area
6,291 m²
Building footprint
3,339 m²
Volume, LiDAR
20,068 m³
3 parcels, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
3 establishment units
HUBO
since 19752.010.872.653
HUBO
since 20042.139.626.790
Hubo
since 20242.359.109.086
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23403F0129/00E002 | Flanders | 3,425 m² | 1 · 1,454 m² | 8.7 m · 2 fl. |
| 23602H0147/00Z003 | Flanders | 2,271 m² | 1 · 1,865 m² | 7.2 m · 2 fl. |
| 23322B0579/00C002 | Flanders | 595 m² | 1 · 19 m² | 6.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
Teweka
71 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Teweka
- Hubo België
- EPSILON
Highest known parent: Teweka. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of EPSILON and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
3 sitesAsse2.359.109.086
Grimbergen2.010.872.653
Merchtem2.139.626.790
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Of 1,719 companies in sector 47521 we hold annual accounts for 1,288. 811 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-01-1975
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0414757845
Also
9925:BE0414757845
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.