ERC BELGIUM
ActiveERC BELGIUM has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.54M and a net result of €575k. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 26% of 188 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▲+29
Solvency47▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.09 in 2024; short-term debt: 65% and cash: 0% of total assets), and 78.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Sector 72
lower
← 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
21.9%
Return on assets
5%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
on the day
2023
91 d late
2022
24 d late
2021
18 d late
2020
31 d late
2019
32 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.54M
EBIT margin
44.7%
Net result
€575k
2024 · €-216k
2018: €-4k
2019: €309k
2020: €550k
2021: €59k
2022: €102k
2023: €-561k
2024: €-216k
2018 → 2025
Working capital
€-5.12M▲ 20.4%
2024 · €-6.44M
2018: €-2.68M
2019: €-3.19M
2020: €-3.50M
2021: €-5.81M
2022: €-6.92M
2023: €-6.98M
2024: €-6.44M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.54M
Equity€2.64M-€2.74M▲ 3.9%€2.18M▼ 20.5%€1.96M▼ 9.9%€2.54M▲ 29.3%
Operating result€-2.00M-€-1.91M▲ 4.2%€-413k▲ 78.4%€-153k▲ 63.1%€691k
Net result€59k-€102k▲ 73.2%€-561k€-216k▲ 61.5%€575k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €691k after a loss of €153k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.59M
Fixed assets
€9.18M▼ 7.5%
Current assets
€2.41M▲ 272%
Equity and liabilities €11.59M
Equity
€2.54M▲ 29.3%
Debt
€9.05M▲ 5.2%
The debt ratio falls from 81.4% to 78.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.48M▲
2024 · €651k
Cash flow
€1.36M▲
2024 · €588k
Solvency
21.9%▲
2024 · 18.6%
Current ratio
0.32▲
2024 · 0.09
Quick ratio
0.32▲
2024 · 0.09
Debt / equity
3.56▼
2024 · 4.38
ROE
22.6%▲
2024 · -11.0%
ROA
5.0%▲
2024 · -2.0%
Interest coverage
10.72▲
2024 · 4.55
Debt
€9.05M▲
2024 · €8.60M
Debt ≤ 1 year
€7.53M▲
2024 · €7.09M
Debt > 1 year
€1.47M=
2024 · €1.47M
Income taxes
€556▲
2024 · €405
Staff costs
€95k▼
2024 · €190k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€10.57M€11.59M▲
Fixed assets21/28€9.92M€9.18M▼
Intangible fixed assets21€6.33M€5.59M▼
Tangible fixed assets22/27€3.48M€3.47M▼
Furniture and vehicles24€7k-
Other tangible fixed assets26€3.47M€3.47M=
Financial fixed assets28€116k€116k=
Current assets29/58€647k€2.41M▲
Amounts receivable within one year40/41€647k€2.41M▲
Trade receivables40€28k€1.57M▲
Other amounts receivable41€619k€837k▲
Cash at bank and in hand54/58€246€98▼
Equity and liabilities
Total equity and liabilities10/49€10.57M€11.59M▲
Equity10/15€1.96M€2.54M▲
Contributions10/11€2.38M€2.38M=
Capital10€2.38M€2.38M=
Issued capital100€2.38M€2.38M=
Reserves13€60k€89k▲
Non-distributable reserves130/1€60k€89k▲
Legal reserve130€60k€89k▲
Profit (loss) carried forward14€-473k€73k▲
Amounts payable17/49€8.60M€9.05M▲
Amounts payable after more than one year17€1.47M€1.47M=
Financial debts170/4€1.47M€1.47M=
Amounts payable within one year42/48€7.09M€7.53M▲
Financial debts43€12-
Credit institutions430/8€12-
Trade debts44€3.67M€3.76M▲
Suppliers440/4€3.67M€3.76M▲
Taxes, remuneration and social security45€220k€104k▼
Taxes450/3€166k€83k▼
Remuneration and social security454/9€54k€21k▼
Other amounts payable47/48€3.20M€3.67M▲
Accrued charges and deferred income492/3€48k€48k=
Income statement
Code20242025
Turnover70-€1.54M
Non-recurring operating income76A€577k€489k▼
Goods, raw materials, services and sundry goods60/61-€274k
Remuneration, social security and pensions62€190k€95k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€804k€785k▼
Other operating charges640/8€15k€6k▼
Non-recurring operating charges66A€27k€202k▲
Gross operating margin9900€883k€1.78M▲
Operating profit (loss)9901€-153k€691k▲
Financial income75/76B€80k€22k▼
Recurring financial income75€9k€22k▲
Non-recurring financial income76B€71k-
Financial charges65/66B€143k€138k▼
Recurring financial charges65€143k€138k▼
Profit (loss) for the period before taxes9903€-216k€575k▲
Income taxes67/77€405€556▲
Profit (loss) for the period9904€-216k€575k▲
Profit (loss) for the period to be appropriated9905€-216k€575k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-473k€102k▲
Profit (loss) brought forward from the previous period14P€-257k€-473k▼
Transfer to equity691/2-€29k
To the legal reserve6920-€29k
Social balance
Average headcount (FTE)90872.01.0▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €575k
Net result €575k after 2 loss-making years.
31-12
Financial
Equity above €2MEq €2.54M ▲29.3%
Equity rises from €1.96M to €2.54M.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 91 days late
2023
31-12
Financial
Weakest financial yearnet €-561k ▼650%
Net result drops to €-561k, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 32 days late
2019
31-12
Financial
Back to profitnet €309k
Net result €309k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.03M ▲18%
Equity rises from €1.72M to €2.03M.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-06
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.
Directors · office · real estate
Directors
23 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, Gembloux · 2 establishment units since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Jean Sonet,Isnes 105032 GemblouxGround area
961 m²
Building footprint
889 m²
Volume, LiDAR
1,252 m³
2 parcels, Brussels, Wallonia · tallest building 11.5 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
ERC BELGIUM
since 20092.175.204.313
ERC Belgium
since 20182.282.140.081
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92065B0056/00V002 | Wallonia | 794 m² | 1 · 721 m² | - |
| 21818B0534/00A005 | Brussels | 166 m² | 1 · 168 m² | 11.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 761 companies in sector 72101 we hold annual accounts for 481. 246 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-02-2008
Fiscal year end31-12
Activities, NACEBEL
72101Research and development on biotechnology
21209Manufacture of basic pharmaceutical products and pharmaceutical preparations
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
4 entriesE-mail:bernard@ercbelgium.eu
Phone:081/728610
Fax:081/728619
E-mail:mail@ercbelgium.eu