Erdol System
ActiveSummary
The computed 12-month bankruptcy probability of Erdol System is 4.1% (elevated). The 2024 annual accounts show equity of €37,991 and a net result of €15,655. Equity is growing by ~19.3% per year across the filed fiscal years. Its solvency ranks better than 55% of 36380 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability95▲+88
Solvency76▼-6
Growth85▲+17
Track record100
Bankruptcy probability, 12 months
4.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.59 against 1.57 in 2023; short-term debt: 49.3% and cash: 0% of total assets), and 49.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
50.7%
Return on assets
20.9%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
61 d late
2022
69 d late
2021
19 d early
2020
72 d late
2019
241 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 80 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€360,963▲ 219%
2019 · €112,987
EBIT margin
5.1%▲ 3.6pp
2019 · 1.5%
Net result
€15,655
2023 · -€5,015
Working capital
€21,622▲ 123%
2023 · €9,685
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€360,963▲ 219%
Operating result€18,275▲ 1,010%€5,055▼ 72.3%€9,357▲ 85.1%-€2,947€22,940
Net result€16,319▲ 1,056%€667▼ 95.9%€4,954▲ 643%-€5,015€15,655
EBIT margin5.1%▲ 3.6pp
Equity€21,730▲ 302%€22,397▲ 3.1%€27,351▲ 22.1%€22,336▼ 18.3%€37,991▲ 70.1%
Total assets€75,369▲ 197%€52,050▼ 30.9%€150,443▲ 189%€39,290▼ 73.9%€74,874▲ 90.6%
Debt€53,639▲ 169%€29,653▼ 44.7%€123,092▲ 315%€16,953▼ 86.2%€36,883▲ 118%
Working capital€11,260€12,316▲ 9.4%€15,140▲ 22.9%€9,685▼ 36.0%€21,622▲ 123%
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 2024: €22,940 after a loss of €2,947 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €74,874
Fixed assets
€16,369 ▲ 29.4%
Current assets
€58,505 ▲ 120%
Equity and liabilities €74,874
Equity
€37,991 ▲ 70.1%
Debt
€36,883 ▲ 118%
Debt's share of the balance-sheet total rises from 43.1% to 49.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€28,053▲
2023 · €936
Cash flow
€20,768▲
2023 · -€1,132
Current ratio
1.59▲
2023 · 1.57
Debt to equity
0.97▲
2023 · 0.76
ROE
41.2%▲
2023 · -22.5%
ROA
20.9%▲
2023 · -12.8%
Interest coverage
16.03▲
2023 · 0.45
Debt ≤ 1 year
€36,883▲
2023 · €16,953
Income taxes
€5,649▲
2023 · €10
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,964 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €360,963 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €8,000 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €374,687 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,251 | €5,630 | €4,489 | €3,883 | €5,113 | ▲ 31.7% |
| Other operating charges640/8 | - | €3,076 | €182 | €955 | €575 | ▼ 39.7% |
| Non-recurring operating charges66A | - | - | €851 | €1,175 | €415 | ▼ 64.7% |
| Gross operating margin9900 | €22,637 | €13,760 | €14,879 | €3,066 | €29,044 | ▲ 847% |
| Operating profit (loss)9901 | €18,275 | €5,055 | €9,357 | -€2,947 | €22,940 | ▲ 878% |
| Financial income75/76B | - | €329 | €19 | €11 | €114 | ▲ 977% |
| Recurring financial income75 | €2,141 | €329 | €19 | €11 | €114 | ▲ 977% |
| Financial charges65/66B | - | €1,090 | €2,195 | €2,068 | €1,750 | ▼ 15.4% |
| Recurring financial charges65 | €397 | €1,090 | €2,195 | €2,068 | €1,750 | ▼ 15.4% |
| Profit (loss) for the period before taxes9903 | €20,019 | €4,294 | €7,181 | -€5,005 | €21,304 | ▲ 526% |
| Income taxes67/77 | €3,700 | €3,627 | €2,227 | €10 | €5,649 | ▲ 55,835% |
| Profit (loss) for the period9904 | €16,319 | €667 | €4,954 | -€5,015 | €15,655 | ▲ 412% |
| Profit (loss) for the period to be appropriated9905 | €16,319 | €667 | €4,954 | -€5,015 | €15,655 | ▲ 412% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,369 | €52,050 | €150,443 | €39,290 | €74,874 | ▲ 90.6% |
| Fixed assets21/28 | €10,470 | €10,082 | €12,211 | €12,652 | €16,369 | ▲ 29.4% |
| Tangible fixed assets22/27 | €8,570 | €8,182 | €10,311 | €10,752 | €14,469 | ▲ 34.6% |
| Plant, machinery and equipment23 | - | €4,825 | €8,715 | €8,728 | €11,838 | ▲ 35.6% |
| Furniture and vehicles24 | - | €3,357 | €1,596 | €2,024 | €2,632 | ▲ 30.0% |
| Financial fixed assets28 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Current assets29/58 | €64,899 | €41,968 | €138,233 | €26,638 | €58,505 | ▲ 120% |
| Stocks and contracts in progress3 | - | - | - | €13,253 | - | - |
| Stocks30/36 | - | - | - | €13,253 | - | - |
| Amounts receivable within one year40/41 | €53,857 | €38,951 | €120,845 | €11,871 | €58,263 | ▲ 391% |
| Trade receivables40 | - | €24,996 | €114,424 | €11,871 | €56,366 | ▲ 375% |
| Other amounts receivable41 | - | €13,955 | €6,421 | - | €1,897 | - |
| Cash at bank and in hand54/58 | €10,711 | €2,640 | €17,388 | €1,239 | €31 | ▼ 97.5% |
| Deferred charges and accrued income490/1 | - | €378 | - | €275 | €211 | ▼ 23.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,369 | €52,050 | €150,443 | €39,290 | €74,874 | ▲ 90.6% |
| Equity10/15 | €21,730 | €22,397 | €27,351 | €22,336 | €37,991 | ▲ 70.1% |
| Contributions10/11 | - | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Reserves13 | €400 | €400 | €400 | €400 | €400 | = |
| Non-distributable reserves130/1 | - | €400 | €400 | €400 | - | - |
| Reserves not available under the articles1311 | - | €400 | €400 | €400 | - | - |
| Distributable reserves133 | - | - | - | - | €400 | - |
| Profit (loss) carried forward14 | €17,330 | €17,997 | €22,951 | €17,936 | €33,591 | ▲ 87.3% |
| Amounts payable17/49 | €53,639 | €29,653 | €123,092 | €16,953 | €36,883 | ▲ 118% |
| Amounts payable within one year42/48 | €53,639 | €29,653 | €123,092 | €16,953 | €36,883 | ▲ 118% |
| Trade debts44 | €46,787 | €22,326 | €114,840 | €940 | €23,026 | ▲ 2,350% |
| Suppliers440/4 | - | €22,326 | €114,840 | €940 | €23,026 | ▲ 2,350% |
| Taxes, remuneration and social security45 | - | €7,327 | €5,854 | €4,522 | €5,649 | ▲ 24.9% |
| Taxes450/3 | - | €7,327 | €5,854 | €4,522 | €5,649 | ▲ 24.9% |
| Other amounts payable47/48 | - | - | €2,398 | €11,492 | €8,207 | ▼ 28.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,319 | €667 | €4,954 | -€5,015 | €15,655 | ▲ 412% |
| + Depreciation and write-downs630 | €4,251 | €5,630 | €4,489 | €3,883 | €5,113 | ▲ 31.7% |
| Operating cash flow (approximation) | €20,570 | €6,297 | €9,443 | -€1,132 | €20,768 | ▲ 1,935% |
| Investment in fixed assets (approximation) | - | -€5,241 | -€6,618 | -€4,324 | -€8,831 | ▼ 104% |
| Change in cash | - | -€8,071 | €14,748 | -€16,149 | -€1,208 | ▲ 92.5% |
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
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Back to profitnet €15,655
Net result €15,655 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet -€5,015
Net result drops to -€5,015, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 69 days late
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 72 days late
29-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 241 days late
2020
31-12
Financial
Highest result since 2019net €16,319 ▲1,056%
Net result €16,319, the highest in the series.
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, Ganshoren · 1 establishment unit since 2019
Ground area
118 m²
Building footprint
97 m²
Volume, LiDAR
1,273 m³
Parcel 21392B0034/00D003, Brussels · tallest building 17.9 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
ERDOL SYSTEM
since 20192.294.940.123
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21392B0034/00D003 | Brussels | 118 m² | 1 · 97 m² | 17.9 m · 4 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 15,521 companies in sector 43990 we hold annual accounts for 7,420. 5,896 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
Founded20-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728703590
Registered
28-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.