Summary
ERSO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €720,585 and a net result of €134,104. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 11% of 5585 sector peers (fiscal year 2025). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
13 d early
2023
3 d early
2022
27 d late
2021
40 d early
2020
3 d late
2019
7 d early
← 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 9 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 17 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€720,585▲ 22.9%
2024 · €586,481
Net result
€134,104▲ 76.6%
2024 · €75,917
Total assets
€9.6m▼ 4.8%
2024 · €10.1m
Solvency
7.5%▲ 1.7pp
2024 · 5.8%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20212022202320242025
Operating result€171,207▲ 13.9%€113,669▼ 33.6%€188,349▲ 65.7%€243,008▲ 29.0%€298,366▲ 22.8%
Net result€56,557within the sector's middle half▲ 54.9%€38,184within the sector's middle half▼ 32.5%€97,017within the sector's middle half▲ 154%€75,917within the sector's middle half▼ 21.7%€134,104within the sector's middle half▲ 76.6%
Equity€375,363within the sector's middle half▲ 17.7%€413,547above the sector's middle half▲ 10.2%€510,564within the sector's middle half▲ 23.5%€586,481within the sector's middle half▲ 14.9%€720,585within the sector's middle half▲ 22.9%
Total assets€4.6mabove the sector's middle half▲ 10.2%€6.1mabove the sector's middle half▲ 32.9%€8.2mabove the sector's middle half▲ 33.6%€10.1mabove the sector's middle half▲ 24.1%€9.6mabove the sector's middle half▼ 4.8%
Debt€1.6m▲ 31.4%€3.1m▲ 93.9%€5.0m▲ 64.2%€6.9m▲ 37.8%€6.3m▼ 8.8%
Working capital€1.7mabove the sector's middle half▼ 19.7%€1.9mabove the sector's middle half▲ 13.0%€2.2mabove the sector's middle half▲ 15.7%€2.1mabove the sector's middle half▼ 7.3%€2.2mabove the sector's middle half▲ 7.7%
Solvency8.2%below the sector's middle half▲ 0.5pp6.8%below the sector's middle half▼ 1.4pp6.3%below the sector's middle half▼ 0.5pp5.8%below the sector's middle half▼ 0.5pp7.5%below the sector's middle half▲ 1.7pp
Current ratio2.10within the sector's middle half▼ 1.161.63within the sector's middle half▼ 0.4711.70above the sector's middle half▲ 10.071.98within the sector's middle half▼ 9.722.50within the sector's middle half▲ 0.52
Return on assets (ROA)1.2%within the sector's middle half▲ 0.4pp0.6%below the sector's middle half▼ 0.6pp1.2%within the sector's middle half▲ 0.6pp0.7%within the sector's middle half▼ 0.4pp1.4%within the sector's middle half▲ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 23% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.6m
Fixed assets
€5.9m ▼ 0.3%
Current assets
€3.7m ▼ 11.3%
Equity and liabilities €9.6m
Equity
€720,585 ▲ 22.9%
Provisions
€2.6m ▼ 0.5%
Debt
€6.3m ▼ 8.8%
Debt's share of the balance-sheet total falls from 68.5% to 65.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
18.6%▲
2024 · 12.9%
Debt ≤ 1 year
€1.5m▼
2024 · €2.1m
Debt > 1 year
€4.8m=
2024 · €4.8m
Income taxes
€6,065
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,273 | €4,574 | €4,604 | €4,840 | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,149 | €9,150 | €9,149 | €11,306 | €20,516 | ▲ 81.5% |
| Other operating charges640/8 | - | €2,146 | €1,574 | €13,611 | €2,592 | ▼ 81.0% |
| Non-recurring operating charges66A | - | €5,209 | €5,074 | €5,196 | €5,440 | ▲ 4.7% |
| Gross operating margin9900 | €187,948 | €130,174 | €204,146 | €273,120 | €326,914 | ▲ 19.7% |
| Operating profit (loss)9901 | €171,207 | €113,669 | €188,349 | €243,008 | €298,366 | ▲ 22.8% |
| Financial income75/76B | - | €112,247 | €145,264 | €242,410 | €249,546 | ▲ 2.9% |
| Recurring financial income75 | €82,094 | €112,247 | €145,264 | €242,410 | €249,546 | ▲ 2.9% |
| Financial charges65/66B | - | €173,148 | €225,696 | €409,500 | €407,744 | ▼ 0.4% |
| Recurring financial charges65 | €175,723 | €173,148 | €225,696 | €409,500 | €407,744 | ▼ 0.4% |
| Profit (loss) for the period before taxes9903 | €77,577 | €52,767 | €107,917 | €75,917 | €140,169 | ▲ 84.6% |
| Income taxes67/77 | €21,021 | €14,584 | €10,900 | - | €6,065 | - |
| Profit (loss) for the period9904 | €56,557 | €38,184 | €97,017 | €75,917 | €134,104 | ▲ 76.6% |
| Profit (loss) for the period to be appropriated9905 | €56,557 | €38,184 | €97,017 | €75,917 | €134,104 | ▲ 76.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €6.1m | €8.2m | €10.1m | €9.6m | ▼ 4.8% |
| Fixed assets21/28 | €1.3m | €1.1m | €5.7m | €6.0m | €5.9m | ▼ 0.3% |
| Intangible fixed assets21 | - | - | - | €57,787 | €49,873 | ▼ 13.7% |
| Tangible fixed assets22/27 | €139,145 | €128,418 | €112,768 | €101,132 | €92,469 | ▼ 8.6% |
| Land and buildings22 | - | €121,469 | €106,307 | €97,644 | €88,981 | ▼ 8.9% |
| Plant, machinery and equipment23 | - | €5,124 | €4,637 | €3,488 | €3,488 | = |
| Furniture and vehicles24 | - | €1,825 | €1,825 | - | - | - |
| Financial fixed assets28 | €1.2m | €1.0m | €5.6m | €5.8m | €5.8m | = |
| Current assets29/58 | €3.3m | €5.0m | €2.4m | €4.2m | €3.7m | ▼ 11.3% |
| Amounts receivable within one year40/41 | €2.9m | €4.7m | €1.6m | €4.0m | €3.6m | ▼ 10.6% |
| Trade receivables40 | - | €32,125 | €36,776 | €34,607 | €8,165 | ▼ 76.4% |
| Other amounts receivable41 | - | €4.7m | €1.6m | €4.0m | €3.6m | ▼ 10.0% |
| Cash at bank and in hand54/58 | €386,436 | €274,609 | €736,578 | €98,067 | €118,433 | ▲ 20.8% |
| Deferred charges and accrued income490/1 | - | - | €72,894 | €70,722 | €471 | ▼ 99.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €6.1m | €8.2m | €10.1m | €9.6m | ▼ 4.8% |
| Equity10/15 | €375,363 | €413,547 | €510,564 | €586,481 | €720,585 | ▲ 22.9% |
| Contributions10/11 | - | €52,800 | €52,800 | €52,800 | €52,800 | = |
| Reserves13 | €322,563 | €360,747 | €457,764 | €533,681 | €667,785 | ▲ 25.1% |
| Non-distributable reserves130/1 | - | €120,246 | €120,246 | €120,246 | €120,246 | = |
| Reserves not available under the articles1311 | - | €120,246 | €120,246 | €120,246 | €120,246 | = |
| Distributable reserves133 | - | €240,501 | €337,518 | €413,435 | €547,539 | ▲ 32.4% |
| Profit (loss) carried forward14 | -€5,706 | - | - | - | - | - |
| Provisions and deferred taxes16 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | ▼ 0.5% |
| Provisions for liabilities and charges160/5 | - | €2.6m | €2.6m | €2.6m | €2.6m | ▼ 0.5% |
| Other liabilities and charges164/5 | - | €2.6m | €2.6m | €2.6m | €2.6m | ▼ 0.5% |
| Amounts payable17/49 | €1.6m | €3.1m | €5.0m | €6.9m | €6.3m | ▼ 8.8% |
| Amounts payable after more than one year17 | €29,194 | €12,530 | €4.8m | €4.8m | €4.8m | = |
| Financial debts170/4 | - | €12,530 | €4.8m | €4.8m | €4.8m | = |
| Amounts payable within one year42/48 | €1.6m | €3.1m | €208,198 | €2.1m | €1.5m | ▼ 29.9% |
| Current portion of amounts payable after more than one year42 | - | €16,664 | €12,530 | - | - | - |
| Trade debts44 | €1,936 | €2,950 | €8,277 | €50,999 | €802 | ▼ 98.4% |
| Suppliers440/4 | - | €2,950 | €8,277 | €50,999 | €802 | ▼ 98.4% |
| Taxes, remuneration and social security45 | - | €6,641 | €25,313 | €21,404 | €26,226 | ▲ 22.5% |
| Taxes450/3 | - | €6,641 | €25,313 | €21,404 | €26,226 | ▲ 22.5% |
| Other amounts payable47/48 | - | €3.0m | €162,079 | €2.0m | €1.5m | ▼ 28.8% |
| Accrued charges and deferred income492/3 | - | €1,579 | €53,617 | €53,617 | €74,699 | ▲ 39.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,557 | €38,184 | €97,017 | €75,917 | €134,104 | ▲ 76.6% |
| + Depreciation and write-downs630 | €9,149 | €9,150 | €9,149 | €11,306 | €20,516 | ▲ 81.5% |
| Operating cash flow (approximation) | €65,706 | €47,333 | €106,166 | €87,223 | €154,620 | ▲ 77.3% |
| Investment in fixed assets (approximation) | - | €201,578 | -€4.6m | -€236,610 | -€3,940 | ▲ 98.3% |
| Change in cash | - | -€111,827 | €461,969 | -€638,511 | €20,366 | ▲ 103% |
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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Highest result since 2018net €134,104 ▲76.6%
Net result €134,104, the highest in the series.
17-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Liquidity times 7current ratio 11.70
Current ratio from 1.63 to 11.70; short-term debt falls from €3.1m to €208,198.
30-09
Financial
Equity above €500,000Eq €510,564 ▲23.5%
4 profitable years in a row build equity to €510,564.
27-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
03-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 3 days late
2020
30-09
Financial
Back to profitnet €36,507
Net result €36,507 after one loss-making year.
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€5,706
Net result drops to -€5,706, the lowest in the series; recovery starts the following year.
Show earlier events
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Gent · 1 establishment unit since 2007
Ground area
6,612 m²
Building footprint
2,137 m²
Volume, LiDAR
11,776 m³
2 parcels, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
-
since 20072.166.636.441
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017D0926/00E000 | Flanders | 5,924 m² | 1 · 1,676 m² | 6.7 m · 2 fl. |
| 44080D0988/00N000 | Flanders | 688 m² | 1 · 461 m² | 10.7 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.
Structure & network
Owners and holdings
4 holdingsOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 4
-
89.6%
-
52.87%
-
10%
-
5%
According to the annual accounts to 30-09-2025 of ERSO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,765 EUR awarded · 5,340 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 990 EUR |
| 2024 | 1 | 990 EUR | 0 EUR |
| 2023 | 1 | 4,875 EUR | 3,450 EUR |
| 2022 | 1 | 900 EUR | 900 EUR |
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 13,290 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
Founded07-11-2007
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
77110Renting and leasing of cars and light motor vehicles
77120Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0893287549
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.