ERCE
ActiveSummary
ERCE has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97k and a net result of €12k. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 59% of 994 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-5
Solvency78▼-3
Growth52=
Track record94
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.2 against 3.41 in 2024; short-term debt: 37.7% and cash: 16.5% of total assets), and 46.9% 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+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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
53.1%
Return on assets
6.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 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 · 4 filingsDeviation from the deadline
2025
10 d late
2024
14 d late
2023
27 d late
2022
20 d late
← 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
€97k▼ 22.4%
2024 · €125k
2022: €74klowest in 4 years
2023: €101k▲ +35.2% vs 2022
2024: €125k▲ +24.1% vs 2023highest in 4 years
2025: €97k▼ -22.4% vs 2024
2022 → 2025
Total assets
€183k▼ 18.3%
2024 · €224k
2022: €104klowest in 4 years
2023: €176k▲ +69.3% vs 2022
2024: €224k▲ +27.1% vs 2023highest in 4 years
2025: €183k▼ -18.3% vs 2024
2022 → 2025
Net result
€12k▼ 50.5%
2024 · €24k
2022: €69khighest in 4 years
2023: €26k▼ -62.3% vs 2022
2024: €24k▼ -7.3% vs 2023
2025: €12k▼ -50.5% vs 2024lowest in 4 years
2022 → 2025
Working capital
€82k▼ 25.4%
2024 · €110k
2022: €59klowest in 4 years
2023: €80k▲ +36.3% vs 2022
2024: €110k▲ +37.4% vs 2023highest in 4 years
2025: €82k▼ -25.4% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€74k-€101k▲ 35.2%€125k▲ 24.1%€97k▼ 22.4%
2022: €74klowest in 4 years
2023: €101k▲ +35.2% vs 2022
2024: €125k▲ +24.1% vs 2023highest in 4 years
2025: €97k▼ -22.4% vs 2024
Operating result€91k-€36k▼ 60.0%€37k▲ 0.9%€21k▼ 42.0%
2022: €91khighest in 4 years
2023: €36k▼ -60.0% vs 2022
2024: €37k▲ +0.9% vs 2023
2025: €21k▼ -42.0% vs 2024lowest in 4 years
Net result€69k-€26k▼ 62.3%€24k▼ 7.3%€12k▼ 50.5%
2022: €69khighest in 4 years
2023: €26k▼ -62.3% vs 2022
2024: €24k▼ -7.3% vs 2023
2025: €12k▼ -50.5% vs 2024lowest in 4 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 42% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €183k
Fixed assets
€31k ▼ 53.6%
Current assets
€151k ▼ 3.1%
Equity and liabilities €183k
Equity
€97k ▼ 22.4%
Debt
€86k ▼ 13.2%
Debt's share of the balance-sheet total rises from 44.1% to 46.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33k▼
2024 · €62k
Cash flow
€23k▼
2024 · €50k
Current ratio
2.20▼
2024 · 3.41
Debt to equity
0.88▲
2024 · 0.79
ROE
12.4%▼
2024 · 19.4%
ROA
6.6%▼
2024 · 10.9%
Interest coverage
7.68▼
2024 · 14.28
Debt ≤ 1 year
€69k▲
2024 · €46k
Debt > 1 year
€17k▼
2024 · €53k
Income taxes
€8k▼
2024 · €11k
Staff costs
€50k▼
2024 · €114k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€224k€183k▼
Fixed assets21/28€68k€31k▼
Tangible fixed assets22/27€68k€31k▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€63k€29k▼
Current assets29/58€156k€151k▼
Amounts receivable within one year40/41€125k€100k▼
Trade receivables40€78k€39k▼
Other amounts receivable41€46k€60k▲
Cash at bank and in hand54/58€30k€30k▲
Deferred charges and accrued income490/1€1k€21k▲
Equity and liabilities
Total equity and liabilities10/49€224k€183k▼
Equity10/15€125k€97k▼
Contributions10/11€5k€5k=
Reserves13€80k€50k▼
Distributable reserves133€80k€50k▼
Profit (loss) carried forward14€40k€42k▲
Amounts payable17/49€99k€86k▼
Amounts payable after more than one year17€53k€17k▼
Financial debts170/4€53k€17k▼
Amounts payable within one year42/48€46k€69k▲
Current portion of amounts payable after more than one year42€10k€7k▼
Trade debts44€238€7k▲
Suppliers440/4€238€7k▲
Advances received on contracts in progress46€11k-
Taxes, remuneration and social security45€24k€18k▼
Taxes450/3€21k€17k▼
Remuneration and social security454/9€3k€1k▼
Other amounts payable47/48-€37k
Income statement
Code20242025
Remuneration, social security and pensions62€114k€50k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€11k▼
Other operating charges640/8€2k€3k▲
Gross operating margin9900€178k€85k▼
Operating profit (loss)9901€37k€21k▼
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Financial charges65/66B€4k€4k▼
Recurring financial charges65€4k€4k▼
Profit (loss) for the period before taxes9903€35k€20k▼
Income taxes67/77€11k€8k▼
Profit (loss) for the period9904€24k€12k▼
Profit (loss) for the period to be appropriated9905€24k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€60k€52k▼
Profit (loss) brought forward from the previous period14P€36k€40k▲
Transfer from equity791/2-€40k
Transfer to equity691/2€20k€10k▼
To other reserves6921€20k€10k▼
Profit to be distributed694/7-€40k
Return on contributions (dividend)694-€40k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €15k | €87k | €114k | €50k | ▼ 56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €13k | €25k | €11k | ▼ 55.2% |
| Other operating charges640/8 | €248 | €2k | €2k | €3k | ▲ 18.2% |
| Gross operating margin9900 | €111k | €138k | €178k | €85k | ▼ 52.4% |
| Operating profit (loss)9901 | €91k | €36k | €37k | €21k | ▼ 42.0% |
| Financial income75/76B | €862 | €2k | €3k | €3k | ▲ 2.4% |
| Recurring financial income75 | €862 | €2k | €3k | €3k | ▲ 2.4% |
| Financial charges65/66B | €12 | €1k | €4k | €4k | ▼ 2.2% |
| Recurring financial charges65 | €12 | €1k | €4k | €4k | ▼ 2.2% |
| Profit (loss) for the period before taxes9903 | €92k | €37k | €35k | €20k | ▼ 43.6% |
| Income taxes67/77 | €22k | €11k | €11k | €8k | ▼ 27.8% |
| Profit (loss) for the period9904 | €69k | €26k | €24k | €12k | ▼ 50.5% |
| Profit (loss) for the period to be appropriated9905 | €69k | €26k | €24k | €12k | ▼ 50.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €104k | €176k | €224k | €183k | ▼ 18.3% |
| Fixed assets21/28 | €16k | €53k | €68k | €31k | ▼ 53.6% |
| Tangible fixed assets22/27 | €16k | €53k | €68k | €31k | ▼ 53.6% |
| Plant, machinery and equipment23 | €7k | €4k | €4k | €2k | ▼ 43.7% |
| Furniture and vehicles24 | €9k | €49k | €63k | €29k | ▼ 54.3% |
| Current assets29/58 | €88k | €123k | €156k | €151k | ▼ 3.1% |
| Amounts receivable within one year40/41 | €38k | €113k | €125k | €100k | ▼ 20.2% |
| Trade receivables40 | €12k | €60k | €78k | €39k | ▼ 49.8% |
| Other amounts receivable41 | €26k | €53k | €46k | €60k | ▲ 30.0% |
| Cash at bank and in hand54/58 | €49k | €7k | €30k | €30k | ▲ 0.8% |
| Deferred charges and accrued income490/1 | €1k | €3k | €1k | €21k | ▲ 1,527% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €104k | €176k | €224k | €183k | ▼ 18.3% |
| Equity10/15 | €74k | €101k | €125k | €97k | ▼ 22.4% |
| Contributions10/11 | €5k | €5k | €5k | €5k | = |
| Reserves13 | €40k | €60k | €80k | €50k | ▼ 37.5% |
| Distributable reserves133 | €40k | €60k | €80k | €50k | ▼ 37.5% |
| Profit (loss) carried forward14 | €29k | €36k | €40k | €42k | ▲ 5.0% |
| Amounts payable17/49 | €29k | €75k | €99k | €86k | ▼ 13.2% |
| Amounts payable after more than one year17 | - | €33k | €53k | €17k | ▼ 68.3% |
| Financial debts170/4 | - | €33k | €53k | €17k | ▼ 68.3% |
| Amounts payable within one year42/48 | €29k | €43k | €46k | €69k | ▲ 50.7% |
| Current portion of amounts payable after more than one year42 | - | €3k | €10k | €7k | ▼ 32.4% |
| Trade debts44 | €2k | €5k | €238 | €7k | ▲ 2,649% |
| Suppliers440/4 | €2k | €5k | €238 | €7k | ▲ 2,649% |
| Advances received on contracts in progress46 | - | - | €11k | - | - |
| Taxes, remuneration and social security45 | €27k | €34k | €24k | €18k | ▼ 26.0% |
| Taxes450/3 | €22k | €33k | €21k | €17k | ▼ 20.1% |
| Remuneration and social security454/9 | €5k | €2k | €3k | €1k | ▼ 66.6% |
| Other amounts payable47/48 | - | - | - | €37k | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69k | €26k | €24k | €12k | ▼ 50.5% |
| + Depreciation and write-downs630 | €5k | €13k | €25k | €11k | ▼ 55.2% |
| Operating cash flow (approximation) | €74k | €39k | €50k | €23k | ▼ 52.9% |
| Investment in fixed assets (approximation) | - | €-50k | €-40k | €25k | ▲ 162% |
| Change in cash | - | €-42k | €23k | €225 | ▼ 99.0% |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Weakest financial yearnet €12k ▼50.5%
Net result drops to €12k, the lowest in the series.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Equity above €100kEq €101k ▲35.2%
2 profitable years in a row build equity to €101k.
20-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 20 days late
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.
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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, Grimbergen · 1 establishment unit since 2021
Ground area
326 m²
Building footprint
97 m²
Volume, LiDAR
598 m³
Parcel 23084A0337/00K003, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ERCE
since 20212.324.364.577
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084A0337/00K003 | Flanders | 326 m² | 1 · 97 m² | 10.8 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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Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 739 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
Founded24-11-2021
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.