ERHAN
ActiveSummary
ERHAN has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €84,008 and a net result of €17,982. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 77% of 6720 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability87▲+14
Solvency91▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 2.42 against 1.81 in 2023; short-term debt: 33.7% and cash: 48% of total assets), and 33.7% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
37 d early
2023
43 d late
2022
48 d early
2021
47 d early
2020
122 d late
2019
90 d late
← 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 11 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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 June (4 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
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Financials · fiscal year 2024, micro schema
Equity
€84,008▲ 1.3%
2023 · €82,968
Total assets
€126,629▲ 2.2%
2023 · €123,887
Net result
€17,982▲ 284%
2023 · €4,677
Working capital
€60,709▲ 82.7%
2023 · €33,224
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line20202021202220232024
Operating result€22,449€36,560▲ 62.9%€12,596▼ 65.5%€8,527▼ 32.3%€26,345▲ 209%
Net result€17,954within the sector's middle half€25,075above the sector's middle half▲ 39.7%€8,442within the sector's middle half▼ 66.3%€4,677within the sector's middle half▼ 44.6%€17,982within the sector's middle half▲ 284%
Equity€76,373within the sector's middle half▲ 30.7%€84,647within the sector's middle half▲ 10.8%€78,291within the sector's middle half▼ 7.5%€82,968within the sector's middle half▲ 6.0%€84,008within the sector's middle half▲ 1.3%
Total assets€97,946within the sector's middle half▲ 39.1%€144,330within the sector's middle half▲ 47.4%€136,465within the sector's middle half▼ 5.4%€123,887within the sector's middle half▼ 9.2%€126,629within the sector's middle half▲ 2.2%
Debt€21,573▲ 80.2%€59,683▲ 177%€58,174▼ 2.5%€40,919▼ 29.7%€42,621▲ 4.2%
Working capital€57,666above the sector's middle half▲ 5.0%€48,191within the sector's middle half▼ 16.4%€51,850within the sector's middle half▲ 7.6%€33,224within the sector's middle half▼ 35.9%€60,709above the sector's middle half▲ 82.7%
Solvency78.0%above the sector's middle half▼ 5.0pp58.6%within the sector's middle half▼ 19.3pp57.4%within the sector's middle half▼ 1.3pp67.0%above the sector's middle half▲ 9.6pp66.3%above the sector's middle half▼ 0.6pp
Current ratio3.71above the sector's middle half▼ 1.881.81within the sector's middle half▼ 1.901.89within the sector's middle half▲ 0.081.81within the sector's middle half▼ 0.082.42within the sector's middle half▲ 0.61
Return on assets (ROA)18.3%above the sector's middle half▲ 33.6pp17.4%within the sector's middle half▼ 1.0pp6.2%within the sector's middle half▼ 11.2pp3.8%within the sector's middle half▼ 2.4pp14.2%within the sector's middle half▲ 10.4pp
Staff (FTE)1within the sector's middle half▼ 47.4%1.2▲ 20.0%1.2=1.9▲ 58.3%3.2▲ 68.4%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 209% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €126,629
Fixed assets
€23,299 ▼ 53.2%
Current assets
€103,330 ▲ 39.4%
Equity and liabilities €126,629
Equity
€84,008 ▲ 1.3%
Debt
€42,621 ▲ 4.2%
Debt's share of the balance-sheet total rises from 33.0% to 33.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,398▲
2023 · €20,414
Cash flow
€34,034▲
2023 · €16,564
Debt to equity
0.51▲
2023 · 0.49
ROE
21.4%▲
2023 · 5.6%
Interest coverage
62.54▲
2023 · 24.66
Debt ≤ 1 year
€42,621▲
2023 · €40,919
Income taxes
€7,686▲
2023 · €3,022
Staff costs
€103,636▲
2023 · €68,599
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% 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 497,338 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 31,370 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €42,190 | €48,320 | €68,599 | €103,636 | ▲ 51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,315 | €8,804 | €10,014 | €11,887 | €16,052 | ▲ 35.0% |
| Other operating charges640/8 | - | €3,724 | €4,238 | €2,726 | €3,564 | ▲ 30.7% |
| Gross operating margin9900 | €67,256 | €91,278 | €75,168 | €91,739 | €149,598 | ▲ 63.1% |
| Operating profit (loss)9901 | €22,449 | €36,560 | €12,596 | €8,527 | €26,345 | ▲ 209% |
| Financial income75/76B | - | €0 | - | €0 | €1 | ▲ 5,100% |
| Recurring financial income75 | - | €0 | - | €0 | €1 | ▲ 5,100% |
| Financial charges65/66B | - | €635 | €827 | €828 | €678 | ▼ 18.1% |
| Recurring financial charges65 | €769 | €635 | €827 | €828 | €678 | ▼ 18.1% |
| Profit (loss) for the period before taxes9903 | €21,681 | €35,926 | €11,769 | €7,700 | €25,668 | ▲ 233% |
| Income taxes67/77 | €3,727 | €10,851 | €3,328 | €3,022 | €7,686 | ▲ 154% |
| Profit (loss) for the period9904 | €17,954 | €25,075 | €8,442 | €4,677 | €17,982 | ▲ 284% |
| Profit (loss) for the period to be appropriated9905 | €17,954 | €25,075 | €8,442 | €4,677 | €17,982 | ▲ 284% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €97,946 | €144,330 | €136,465 | €123,887 | €126,629 | ▲ 2.2% |
| Fixed assets21/28 | €18,972 | €36,455 | €26,441 | €49,744 | €23,299 | ▼ 53.2% |
| Tangible fixed assets22/27 | €18,548 | €36,031 | €26,017 | €49,320 | €22,875 | ▼ 53.6% |
| Furniture and vehicles24 | - | €36,031 | €26,017 | €49,320 | €22,875 | ▼ 53.6% |
| Financial fixed assets28 | €424 | €424 | €424 | €424 | €424 | = |
| Current assets29/58 | €78,975 | €107,875 | €110,024 | €74,143 | €103,330 | ▲ 39.4% |
| Amounts receivable within one year40/41 | €23,597 | €18,752 | €30,258 | €30,055 | €35,631 | ▲ 18.6% |
| Trade receivables40 | - | €17,779 | €27,509 | €27,713 | €33,057 | ▲ 19.3% |
| Other amounts receivable41 | - | €973 | €2,749 | €2,343 | €2,574 | ▲ 9.9% |
| Cash at bank and in hand54/58 | €51,875 | €82,752 | €73,335 | €38,457 | €60,809 | ▲ 58.1% |
| Deferred charges and accrued income490/1 | - | €6,371 | €6,430 | €5,631 | €6,890 | ▲ 22.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €97,946 | €144,330 | €136,465 | €123,887 | €126,629 | ▲ 2.2% |
| Equity10/15 | €76,373 | €84,647 | €78,291 | €82,968 | €84,008 | ▲ 1.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €54,560 | €62,758 | €56,402 | €61,079 | €65,416 | ▲ 7.1% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | €2,600 | €2,600 | €2,600 | €2,600 | = |
| Distributable reserves133 | - | €58,299 | €51,943 | €56,620 | €60,957 | ▲ 7.7% |
| Profit (loss) carried forward14 | €3,222 | €3,297 | €3,297 | €3,297 | - | - |
| Amounts payable17/49 | €21,573 | €59,683 | €58,174 | €40,919 | €42,621 | ▲ 4.2% |
| Amounts payable within one year42/48 | €21,309 | €59,683 | €58,174 | €40,919 | €42,621 | ▲ 4.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,667 | €1,667 | = |
| Financial debts43 | - | €733 | €748 | - | - | - |
| Credit institutions430/8 | - | €733 | €748 | - | - | - |
| Trade debts44 | €4,972 | €4,993 | €8,391 | €13,276 | €8,755 | ▼ 34.1% |
| Suppliers440/4 | - | €4,993 | €8,391 | €13,276 | €8,755 | ▼ 34.1% |
| Taxes, remuneration and social security45 | - | €24,801 | €26,307 | €25,046 | €30,417 | ▲ 21.4% |
| Taxes450/3 | - | €17,577 | €17,323 | €12,279 | €16,398 | ▲ 33.5% |
| Remuneration and social security454/9 | - | €7,224 | €8,983 | €12,767 | €14,020 | ▲ 9.8% |
| Other amounts payable47/48 | - | €29,156 | €22,728 | €931 | €1,782 | ▲ 91.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,954 | €25,075 | €8,442 | €4,677 | €17,982 | ▲ 284% |
| + Depreciation and write-downs630 | €6,315 | €8,804 | €10,014 | €11,887 | €16,052 | ▲ 35.0% |
| Operating cash flow (approximation) | €24,269 | €33,879 | €18,456 | €16,564 | €34,034 | ▲ 105% |
| Investment in fixed assets (approximation) | - | -€26,287 | €0 | -€35,190 | €10,392 | ▲ 130% |
| Change in cash | - | €30,877 | -€9,417 | -€34,878 | €22,352 | ▲ 164% |
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
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €25,075 ▲39.7%
Operating result €36,560, net result €25,075, both a record.
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 122 days late
2020
31-12
Financial
Back to profitnet €17,954
Net result €17,954 after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet -€10,731
Net result drops to -€10,731, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 52 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, Vilvoorde · 1 establishment unit since 1999
Ground area
131 m²
Building footprint
93 m²
Volume, LiDAR
649 m³
Parcel 23642D0865/00V002, Flanders · tallest building 14.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Toekomststraat 15, 1800 Vilvoorde
since 19992.092.253.277
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23642D0865/00V002 | Flanders | 131 m² | 1 · 93 m² | 14.0 m · 3 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 12,583 companies in sector 49410 we hold annual accounts for 8,204. 6,301 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
Founded19-05-1999
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
49420Removal services
77120Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465996017
Also
9925:BE0465996017
Registered
09-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.