Erika
ActiveSummary
Erika has been active since 1962 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of -€35,903. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 70% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability27▼-13
Solvency89=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.23 in 2024; short-term debt: 9.3% and cash: 1.7% of total assets), and 36.1% of the assets are financed with debt.
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Signals
Six 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
63.9%
Return on assets
-2.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€35,903
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
on the day
2022
9 d early
2021
25 d early
2020
31 d late
2019
81 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 7 days before the deadline, and 36% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 oldest company in Sint-Katelijne-Waver, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€35,903▼ 69.2%
2024 · -€21,215
Working capital
-€123,252▼ 5.6%
2024 · -€116,671
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-€47,795▼ 1,707%-€52,054▼ 8.9%-€60,021▼ 15.3%-€16,101▲ 73.2%-€23,113▼ 43.5%
Net result-€42,727▼ 1,387%-€48,426▼ 13.3%€12,040-€21,215-€35,903▼ 69.2%
Equity€1.2m▼ 3.6%€1.1m▼ 4.2%€1.1m▲ 1.1%€1.1m▼ 1.9%€1.1m▼ 3.3%
Total assets€1.5m▼ 3.1%€1.5m▼ 3.4%€1.7m▲ 16.8%€1.7m▼ 2.1%€1.7m▼ 3.1%
Debt€112,628▼ 0.2%€112,108▼ 0.5%€441,371▲ 294%€433,844▼ 1.7%€424,552▼ 2.1%
Working capital€630,148▼ 56.9%€392,258▼ 37.8%-€123,123-€116,671▲ 5.2%-€123,252▼ 5.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €23,113 in 2025 against €16,101 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1.6m ▼ 2.9%
Current assets
€31,080 ▼ 12.4%
Equity and liabilities €1.7m
Equity
€1.1m ▼ 3.3%
Provisions
€171,758 ▼ 4.1%
Debt
€424,552 ▼ 2.1%
Debt's share of the balance-sheet total rises from 25.4% to 25.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€26,471▼
2024 · €33,172
Cash flow
€13,681▼
2024 · €28,058
Current ratio
0.20▼
2024 · 0.23
Debt to equity
0.40▲
2024 · 0.40
ROE
-3.4%▼
2024 · -1.9%
ROA
-2.2%▼
2024 · -1.2%
Interest coverage
1.31▼
2024 · 2.72
Debt ≤ 1 year
€154,332▲
2024 · €152,168
Debt > 1 year
€270,220▼
2024 · €281,676
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 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
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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 8,594 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,035 | €25,735 | €76,214 | €49,273 | €49,584 | ▲ 0.6% |
| Other operating charges640/8 | €1,982 | €2,702 | €4,512 | €5,042 | €5,119 | ▲ 1.5% |
| Gross operating margin9900 | -€6,778 | -€23,618 | €20,705 | €38,214 | €31,590 | ▼ 17.3% |
| Operating profit (loss)9901 | -€47,795 | -€52,054 | -€60,021 | -€16,101 | -€23,113 | ▼ 43.5% |
| Financial income75/76B | - | - | €987 | €35 | €67 | ▲ 92.6% |
| Recurring financial income75 | - | - | €987 | €35 | €67 | ▲ 92.6% |
| Financial charges65/66B | €843 | €261 | €9,715 | €12,178 | €20,274 | ▲ 66.5% |
| Recurring financial charges65 | €843 | €261 | €9,715 | €12,178 | €20,274 | ▲ 66.5% |
| Profit (loss) for the period before taxes9903 | -€48,637 | -€52,315 | -€68,749 | -€28,245 | -€43,321 | ▼ 53.4% |
| Transfer from deferred taxes780 | €5,910 | €3,889 | €90,427 | €7,418 | €7,418 | = |
| Income taxes67/77 | - | - | €9,637 | €388 | - | - |
| Profit (loss) for the period9904 | -€42,727 | -€48,426 | €12,040 | -€21,215 | -€35,903 | ▼ 69.2% |
| Transfer from tax-exempt reserves789 | €17,730 | €11,666 | €271,280 | €22,253 | €22,253 | = |
| Profit (loss) for the period to be appropriated9905 | -€24,998 | -€36,761 | €283,320 | €1,038 | -€13,650 | ▼ 1,416% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.5m | €1.7m | €1.7m | €1.7m | ▼ 3.1% |
| Fixed assets21/28 | €801,765 | €987,340 | €1.7m | €1.7m | €1.6m | ▼ 2.9% |
| Tangible fixed assets22/27 | €801,765 | €987,340 | €1.7m | €1.7m | €1.6m | ▼ 2.9% |
| Land and buildings22 | €646,160 | €622,471 | €1.7m | €1.7m | €1.6m | ▼ 2.8% |
| Plant, machinery and equipment23 | - | €673 | €529 | €385 | €242 | ▼ 37.3% |
| Furniture and vehicles24 | €18,252 | €16,252 | €14,252 | €12,252 | €10,252 | ▼ 16.3% |
| Assets under construction and advance payments27 | €137,353 | €347,944 | - | - | - | - |
| Current assets29/58 | €742,775 | €504,367 | €25,571 | €35,497 | €31,080 | ▼ 12.4% |
| Amounts receivable within one year40/41 | €435 | €17,110 | €18,845 | €10,162 | €3,273 | ▼ 67.8% |
| Trade receivables40 | €435 | €17,110 | €18,460 | €9,388 | €2,493 | ▼ 73.4% |
| Other amounts receivable41 | - | - | €384 | €775 | €780 | ▲ 0.7% |
| Cash at bank and in hand54/58 | €742,340 | €487,256 | €6,726 | €25,335 | €27,807 | ▲ 9.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.5m | €1.7m | €1.7m | €1.7m | ▼ 3.1% |
| Equity10/15 | €1.2m | €1.1m | €1.1m | €1.1m | €1.1m | ▼ 3.3% |
| Contributions10/11 | €484,136 | €484,136 | €484,136 | €484,136 | €484,136 | = |
| Capital10 | €484,136 | €484,136 | €484,136 | €484,136 | €484,136 | = |
| Issued capital100 | €484,136 | €484,136 | €484,136 | €484,136 | €484,136 | = |
| Reserves13 | €849,009 | €837,343 | €630,483 | €609,267 | €573,364 | ▼ 5.9% |
| Non-distributable reserves130/1 | €6,284 | €6,284 | €48,414 | €48,414 | €48,414 | = |
| Legal reserve130 | €6,284 | €6,284 | €48,414 | €48,414 | €48,414 | = |
| Tax-exempt reserves132 | €842,725 | €831,059 | €559,779 | €537,526 | €515,273 | ▼ 4.1% |
| Distributable reserves133 | - | - | €22,290 | €23,327 | €9,677 | ▼ 58.5% |
| Profit (loss) carried forward14 | -€182,140 | -€218,901 | - | - | - | - |
| Provisions and deferred taxes16 | €280,908 | €277,020 | €186,593 | €179,175 | €171,758 | ▼ 4.1% |
| Deferred taxes168 | €280,908 | €277,020 | €186,593 | €179,175 | €171,758 | ▼ 4.1% |
| Amounts payable17/49 | €112,628 | €112,108 | €441,371 | €433,844 | €424,552 | ▼ 2.1% |
| Amounts payable after more than one year17 | - | - | €292,678 | €281,676 | €270,220 | ▼ 4.1% |
| Financial debts170/4 | - | - | €292,678 | €281,676 | €270,220 | ▼ 4.1% |
| Amounts payable within one year42/48 | €112,628 | €112,108 | €148,694 | €152,168 | €154,332 | ▲ 1.4% |
| Current portion of amounts payable after more than one year42 | - | - | €10,533 | €11,002 | €11,455 | ▲ 4.1% |
| Trade debts44 | €1,992 | €11,709 | €8,633 | €1,472 | €3,971 | ▲ 170% |
| Suppliers440/4 | €1,992 | €11,709 | €8,633 | €1,472 | €3,971 | ▲ 170% |
| Taxes, remuneration and social security45 | - | €213 | €9,341 | €9,728 | €387 | ▼ 96.0% |
| Taxes450/3 | - | €213 | €9,341 | €9,728 | €387 | ▼ 96.0% |
| Other amounts payable47/48 | €110,636 | €100,186 | €120,186 | €129,966 | €138,519 | ▲ 6.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€42,727 | -€48,426 | €12,040 | -€21,215 | -€35,903 | ▼ 69.2% |
| + Depreciation and write-downs630 | €39,035 | €25,735 | €76,214 | €49,273 | €49,584 | ▲ 0.6% |
| Operating cash flow (approximation) | -€3,692 | -€22,692 | €88,255 | €28,058 | €13,681 | ▼ 51.2% |
| Investment in fixed assets (approximation) | - | -€211,309 | -€805,887 | -€3,186 | -€1,389 | ▲ 56.4% |
| Change in cash | - | -€255,084 | -€480,530 | €18,609 | €2,473 | ▼ 86.7% |
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
31-08
State Gazette act
Resignations: Philip Smet (director) and Benedicte Smet (director)Appointments: Emma Smet, Victor Smet and Laura Marinakis · Registered-office move · Power of attorney8 facts ▸
State Gazette act
Resignations: Philip Smet (director) and Benedicte Smet (director)
Appointments: Emma Smet, Victor Smet and Laura Marinakis · Registered-office move · Power of attorney8 facts ▸
- General meeting, 30-06-2026
- Director resignation, Philip Smet (director)
- Director resignation, Benedicte Smet (director)
- Director appointment, Emma Smet (managing director)
- Director appointment, Victor Smet (director)
- Director appointment, Laura Marinakis (director)
- Registered-office move, Dijk 35, 2861 O.L.V. Waver
- Power of attorney, Accountantsbureel Manacc. BV
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €12,040
Net result €12,040 after 3 loss-making years.
22-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€48,426
Net result drops to -€48,426, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 13.97
Current ratio from 5.26 to 13.97; short-term debt falls from €344,636 to €112,833.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 81 days late
2019
31-12
Financial
Back to profitnet €852,437
Net result €852,437 after one loss-making year.
Show earlier events
31-12
Financial
Equity above €1mEq €1.2m ▲248%
Equity rises from €344,168 to €1.2m.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26109450). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 2
Laura Marinakis
CurrentDirector · since 31-08-2026
Victor Smet
CurrentDirector · since 31-08-2026
Day-to-day management 1
Emma Smet
CurrentManaging director · since 31-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Katelijne-Waver · 1 establishment unit since 1962
Ground area
3.6 ha
Building footprint
7,482 m²
Volume, LiDAR
41,348 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Nijverheidsstraat 3, 2260 Westerlo
since 19622.004.723.843
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13028C0267/00S000 | Flanders | 3.6 ha | 1 · 7,342 m² | 6.7 m · 2 fl. |
| 12027C0119/00K003 | Flanders | 362 m² | 1 · 140 m² | 8.8 m · 2 fl. |
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.
Mandate history
5 people since 2026, 3 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Laura Marinakis |
|
| Victor Smet |
|
| Emma Smet |
|
| Benedicte Smet |
|
| Philip Smet |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,808 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded26-11-1962
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0403768339
Also
9925:BE0403768339
Registered
29-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.