EREL
ActiveSummary
EREL has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €581,673 and a net result of -€12,314. Equity remains stable across the filed fiscal years (±0.5% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability32▼-3
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 2.27 in 2024; short-term debt: 20.3% and cash: 20.2% of total assets), and 20.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−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
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
79.7%
Return on assets
-1.7%
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
1 d early
2023
29 d late
2022
25 d late
2021
31 d late
2020
95 d late
2019
17 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 24 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 25 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€581,673▼ 2.1%
2024 · €593,987
Total assets
€729,820▼ 1.3%
2024 · €739,114
Net result
-€12,314▼ 166%
2024 · -€4,632
Working capital
€49,398▼ 73.3%
2024 · €184,936
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
Line20212022202320242025
Operating result€8,504▲ 34.6%€4,110▼ 51.7%€2,550▼ 37.9%-€2,665-€5,372▼ 102%
Net result€3,125▼ 34.0%€3,991▲ 27.7%€2,137▼ 46.4%-€4,632-€12,314▼ 166%
Equity€592,491▼ 3.6%€596,481▲ 0.7%€598,619▲ 0.4%€593,987▼ 0.8%€581,673▼ 2.1%
Total assets€717,929▼ 0.7%€735,903▲ 2.5%€740,586▲ 0.6%€739,114▼ 0.2%€729,820▼ 1.3%
Debt€125,438▲ 15.8%€139,422▲ 11.1%€141,967▲ 1.8%€145,128▲ 2.2%€148,146▲ 2.1%
Working capital€246,707▲ 3.3%€152,816▼ 38.1%€165,962▲ 8.6%€184,936▲ 11.4%€49,398▼ 73.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,372 in 2025 against €2,665 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 €729,820
Fixed assets
€532,275 ▲ 30.1%
Current assets
€197,545 ▼ 40.1%
Equity and liabilities €729,820
Equity
€581,673 ▼ 2.1%
Debt
€148,146 ▲ 2.1%
Debt's share of the balance-sheet total rises from 19.6% to 20.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€18,076▼
2024 · €20,941
Cash flow
€11,135▼
2024 · €18,973
Current ratio
1.33▼
2024 · 2.27
Debt to equity
0.25▲
2024 · 0.24
ROE
-2.1%▼
2024 · -0.8%
ROA
-1.7%▼
2024 · -0.6%
Interest coverage
1.85▼
2024 · 2.02
Debt ≤ 1 year
€148,146▲
2024 · €145,128
Income taxes
€112▼
2024 · €267
Staff costs
€4,224▲
2024 · €4,192
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 497,340 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% | 1.8% |
| 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €9,943 | - | - | - |
| Remuneration, social security and pensions62 | €4,636 | €4,160 | €4,160 | €4,192 | €4,224 | ▲ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,957 | €23,749 | €23,109 | €23,605 | €23,449 | ▼ 0.7% |
| Other operating charges640/8 | €10,332 | €10,037 | €972 | €10,769 | €520 | ▼ 95.2% |
| Gross operating margin9900 | €53,429 | €42,055 | €30,792 | €35,901 | €22,820 | ▼ 36.4% |
| Operating profit (loss)9901 | €8,504 | €4,110 | €2,550 | -€2,665 | -€5,372 | ▼ 102% |
| Financial income75/76B | - | €6,850 | €9,225 | €8,684 | €2,945 | ▼ 66.1% |
| Recurring financial income75 | - | €6,850 | €9,225 | €8,684 | €2,945 | ▼ 66.1% |
| Financial charges65/66B | €74 | €4,959 | €7,169 | €10,384 | €9,774 | ▼ 5.9% |
| Recurring financial charges65 | €74 | €4,959 | €7,169 | €10,384 | €9,774 | ▼ 5.9% |
| Profit (loss) for the period before taxes9903 | €8,429 | €6,000 | €4,606 | -€4,365 | -€12,201 | ▼ 180% |
| Income taxes67/77 | €5,304 | €2,010 | €2,468 | €267 | €112 | ▼ 58.1% |
| Profit (loss) for the period9904 | €3,125 | €3,991 | €2,137 | -€4,632 | -€12,314 | ▼ 166% |
| Profit (loss) for the period to be appropriated9905 | €3,125 | €3,991 | €2,137 | -€4,632 | -€12,314 | ▼ 166% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €717,929 | €735,903 | €740,586 | €739,114 | €729,820 | ▼ 1.3% |
| Fixed assets21/28 | €345,783 | €443,666 | €432,657 | €409,051 | €532,275 | ▲ 30.1% |
| Tangible fixed assets22/27 | €345,417 | €443,299 | €432,290 | €408,685 | €385,236 | ▼ 5.7% |
| Land and buildings22 | €345,417 | €437,223 | €427,833 | €405,847 | €383,861 | ▼ 5.4% |
| Plant, machinery and equipment23 | - | €4,978 | €3,777 | €2,576 | €1,375 | ▼ 46.6% |
| Furniture and vehicles24 | - | €1,098 | €680 | €261 | - | - |
| Financial fixed assets28 | €367 | €367 | €367 | €367 | €147,039 | ▲ 40,011% |
| Current assets29/58 | €372,146 | €292,237 | €307,930 | €330,063 | €197,545 | ▼ 40.1% |
| Amounts receivable within one year40/41 | €316,672 | €256,672 | €266,615 | €256,876 | €50,000 | ▼ 80.5% |
| Trade receivables40 | - | - | €9,943 | - | - | - |
| Other amounts receivable41 | €316,672 | €256,672 | €256,672 | €256,876 | €50,000 | ▼ 80.5% |
| Cash at bank and in hand54/58 | €55,474 | €35,565 | €41,315 | €73,188 | €147,545 | ▲ 102% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €717,929 | €735,903 | €740,586 | €739,114 | €729,820 | ▼ 1.3% |
| Equity10/15 | €592,491 | €596,481 | €598,619 | €593,987 | €581,673 | ▼ 2.1% |
| Contributions10/11 | €540,732 | €540,732 | €540,732 | €540,732 | €540,732 | = |
| Capital10 | €540,732 | - | €540,732 | €540,732 | €540,732 | = |
| Issued capital100 | €540,732 | - | €540,732 | €540,732 | €540,732 | = |
| Outside capital11 | - | €540,732 | - | - | - | - |
| Other1109/19 | - | €540,732 | - | - | - | - |
| Reserves13 | €51,759 | €51,759 | €51,759 | €51,759 | €51,759 | = |
| Non-distributable reserves130/1 | €10,907 | €10,907 | €10,907 | €10,907 | €10,907 | = |
| Legal reserve130 | €10,907 | - | €10,907 | €10,907 | €10,907 | = |
| Reserves not available under the articles1311 | - | €10,907 | - | - | - | - |
| Tax-exempt reserves132 | €2,350 | €2,350 | €2,350 | €2,350 | €2,350 | = |
| Distributable reserves133 | €38,502 | €38,502 | €38,502 | €38,502 | €38,502 | = |
| Profit (loss) carried forward14 | - | €3,991 | €6,128 | €1,496 | -€10,817 | ▼ 823% |
| Amounts payable17/49 | €125,438 | €139,422 | €141,967 | €145,128 | €148,146 | ▲ 2.1% |
| Amounts payable within one year42/48 | €125,438 | €139,422 | €141,967 | €145,128 | €148,146 | ▲ 2.1% |
| Financial debts43 | €90,000 | - | - | - | - | - |
| Other loans439 | €90,000 | - | - | - | - | - |
| Trade debts44 | €206 | €10,714 | €9,333 | €2,038 | €2,093 | ▲ 2.7% |
| Suppliers440/4 | €206 | €10,714 | €9,333 | €2,038 | €2,093 | ▲ 2.7% |
| Taxes, remuneration and social security45 | €6,589 | €4,871 | €3,867 | €7,107 | €3,018 | ▼ 57.5% |
| Taxes450/3 | €6,589 | €4,871 | €3,867 | €7,107 | €3,018 | ▼ 57.5% |
| Other amounts payable47/48 | €28,643 | €123,837 | €128,768 | €135,983 | €143,035 | ▲ 5.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,125 | €3,991 | €2,137 | -€4,632 | -€12,314 | ▼ 166% |
| + Depreciation and write-downs630 | €29,957 | €23,749 | €23,109 | €23,605 | €23,449 | ▼ 0.7% |
| Operating cash flow (approximation) | €33,082 | €27,739 | €25,247 | €18,973 | €11,135 | ▼ 41.3% |
| Investment in fixed assets (approximation) | - | -€121,631 | -€12,100 | €0 | -€146,672 | - |
| Change in cash | - | -€19,909 | €5,750 | €31,873 | €74,357 | ▲ 133% |
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
17-09
State Gazette act
Declaration · Other statementAppointment: VAN HAVERMAET BEDRIJFSREVISOREN (company auditor) · Demerger · Statutes amendment19 facts ▸
State Gazette act
Declaration · Other statement
Appointment: VAN HAVERMAET BEDRIJFSREVISOREN (company auditor) · Demerger · Statutes amendment19 facts ▸
- Declaration, waarneming van verslag, unanieme instemming van aandeelhouders
- Declaration, waarneming van verslag, unanieme instemming van aandeelhouders
- Declaration, opmaak van verslagen, Verslagen overeenkomstig artikel 5:121, §1 juncto artikel 5:133, §1 WVV zullen worden opgemaakt
- Other statement, verbintenissen, leggen bij deze het voorstel tot partiële splitsing vast dat ter goedkeuring zal worden voorgelegd aan de buitengewone algemene vergaderingen va…
- Other statement, neerlegging, het voorstel tot partiële splitsing uiterlijk zes weken voor de buitengewone algemene vergaderingen die de verrichting zullen goedkeuren, neer te l…
- Other statement, vertegenwoordiging
- Other statement, vertegenwoordiging
- Demerger, 02-09-2026
- Auditor appointment, VAN HAVERMAET BEDRIJFSREVISOREN (company auditor)
- Statutes amendment
- Real estate, 698 ca, huis
- Real estate, 80 ca, handelshuis
- +7 further facts in this act
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€12,314
Net result drops to -€12,314, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 95 days late
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 1994
Ground area
657 m²
Building footprint
124 m²
Volume, LiDAR
740 m³
2 parcels, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
EREL NV
since 19942.045.220.947
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B1348/00M002 | Flanders | 532 m² | 1 · 124 m² | 6.6 m · 2 fl. |
| 41302C1007/00E003 | Flanders | 125 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Purpose
Haar vermogen gevormd door inbrengen en aanwassen en bestaande uit roerende en onroerende goederen, te behouden, te beheren, oordeelkundig uit te breiden en eventueel op optimale…
Full purpose (9 activities)
- Haar vermogen gevormd door inbrengen en aanwassen en bestaande uit roerende en onroerende goederen, te behouden, te beheren, oordeelkundig uit te breiden en eventueel op optimale momenten, of wanneer gebiedende omstandigheden haar daartoe dwingen, te realiseren.
- Binnen het kader van haar voorwerp zal de vennootschap mogen overgaan tot het aankopen, uitrusten, valoriseren, bouwen, verhuren, of in huur nemen van onroerende goederen, al dan niet bemeubeld.
- De vennootschap mag alle roerende en onroerende goederen, materialen en benodigdheden, verwerven, huren of verhuren, vervaardigen, overdragen of ruilen en, in het algemeen, alle financiële handelingen verrichten, welke rechtstreeks of onrechtstreeks in verband staan met haar voorwerp, met inbegrip van de onderaanneming in het algemeen, en de uitbating van alle intellectuele rechten en industriële of commerciële eigendommen die er betrekking op hebben.
- Zij mag alle roerende en onroerende goederen als investering verwerven, zelfs als deze noch rechtstreeks, noch onrechtstreeks verband houden met het voorwerp van de vennootschap.
- De vennootschap mag het bestuur waarnemen, toezicht houden en controle uitoefenen over alle verbonden vennootschappen, met dewelke een of andere band van deelneming bestaat en mag alle leningen, van gelijk welke vorm en voor gelijk welke duur, aan deze laatste toestaan.
- Zij mag bij wijze van inbreng in speciën of in natura, van fusie, inschrijving, deelneming, financiële tussenkomst of op een andere wijze, een aandeel nemen in alle bestaande of op te richten vennootschappen of bedrijven, in België of het buitenland, waarvan het voorwerp identiek, gelijkaardig of verwant is met het hare, of van aard is de uitoefening van haar voorwerp te bevorderen.
- Het verstrekken van alle adviezen en diensten betreffende de organisatie en reorganisatie van vennootschappen, en in het bijzonder, het bijstaan van de bestuursorganen van vennootschappen, het waarnemen van bestuursopdrachten en het waarnemen van het dagelijks beleid van alle deelaspecten van de administratie, boekhouding, personeelsbeleid en commercieel beleid.
- Het ter beschikking stellen van personeel, kantooruitrusting en bedrijfsmaterieel en de financiering daarvan.
- Het beheer ten behoeve van particulieren, instellingen en vennootschappen, betreffende roerende en onroerende vermogens, de verzekeringsagentuur en het vertegenwoordigen van erkende financiële tussenpersonen en instellingen.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:2M INVEST
Identification & contact
Identification
Legal formPublic limited company
Founded22-09-1989
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.