Summary
ERTVELD is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €2.1m and a net result of -€83,962. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 45% of 9866 sector peers (fiscal year 2024). The company has been active since 1989 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 · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-09-2025, 41 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
41 d late
2023
31 d late
2022
70 d late
2021
29 d late
2020
30 d late
2019
27 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 38 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€2.1m▼ 3.9%
2023 · €2.2m
Net result
-€83,962
2023 · €16,784
Total assets
€4.2m▼ 5.0%
2023 · €4.4m
Solvency
49.7%▲ 0.6pp
2023 · 49.1%
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
Operating result-€210,091▼ 441%€25,610€82,323▲ 221%€47,451▼ 42.4%-€32,874
Net result-€208,500▼ 426%-€3,870▲ 98.1%€40,580€16,784▼ 58.6%-€83,962
Equity€2.2m▼ 1.2%€2.2m▼ 0.4%€2.2m▲ 2.4%€2.2m▼ 1.3%€2.1m▼ 3.9%
Total assets€4.5m▲ 5.7%€4.4m▼ 1.8%€4.4m▼ 0.3%€4.4m▲ 0.8%€4.2m▼ 5.0%
Debt€2.1m▲ 28.1%€2.0m▼ 3.2%€1.9m▼ 2.7%€2.0m▲ 4.0%€1.9m▼ 6.2%
Working capital€174,921€110,034▼ 37.1%€148,927▲ 35.3%€35,274▼ 76.3%-€82,771
Solvency48.2%▼ 3.4pp48.9%▲ 0.7pp50.2%▲ 1.3pp49.1%▼ 1.1pp49.7%▲ 0.6pp
Staff (FTE)
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2020 Net result -426% on 2019. The accounts now follow the micro schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €32,874 after €47,451 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.2m
Fixed assets
€3.5m ▼ 2.3%
Current assets
€701,356 ▼ 16.3%
Equity and liabilities €4.2m
Equity
€2.1m ▼ 3.9%
Provisions
€228,565 ▼ 4.9%
Debt
€1.9m ▼ 6.2%
Debt's share of the balance-sheet total falls from 45.4% to 44.9%. Equity and debt are lower.
Key figures and ratios
ROE
-4.0%▼
2023 · 0.8%
ROA
-2.0%▼
2023 · 0.4%
Debt ≤ 1 year
€784,127▼
2023 · €802,189
Debt > 1 year
€1.1m▼
2023 · €1.2m
Income taxes
€4,437▲
2023 · €4,352
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €100,138 | €84,955 | €88,740 | €96,968 | €93,529 | ▼ 3.5% |
| Other operating charges640/8 | - | €25,768 | €11,548 | €13,169 | €13,608 | ▲ 3.3% |
| Gross operating margin9900 | €120,023 | €136,332 | €182,611 | €157,588 | €74,263 | ▼ 52.9% |
| Operating profit (loss)9901 | -€210,091 | €25,610 | €82,323 | €47,451 | -€32,874 | ▼ 169% |
| Financial income75/76B | - | €12,612 | €12,626 | €12,621 | €12,613 | ▼ 0.1% |
| Recurring financial income75 | €34,079 | €12,612 | €12,626 | €12,621 | €12,613 | ▼ 0.1% |
| Financial charges65/66B | - | €28,453 | €26,160 | €50,702 | €71,030 | ▲ 40.1% |
| Recurring financial charges65 | €27,667 | €28,453 | €26,160 | €50,702 | €71,030 | ▲ 40.1% |
| Profit (loss) for the period before taxes9903 | -€203,679 | €9,769 | €68,789 | €9,370 | -€91,291 | ▼ 1,074% |
| Transfer from deferred taxes780 | - | - | - | €11,767 | €11,767 | = |
| Income taxes67/77 | €4,821 | €13,639 | €28,209 | €4,352 | €4,437 | ▲ 2.0% |
| Profit (loss) for the period9904 | -€208,500 | -€3,870 | €40,580 | €16,784 | -€83,962 | ▼ 600% |
| Transfer from tax-exempt reserves789 | - | €47,067 | €47,067 | €35,300 | €35,300 | = |
| Profit (loss) for the period to be appropriated9905 | -€830 | €43,196 | €87,646 | €52,084 | -€48,662 | ▼ 193% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.5m | €4.4m | €4.4m | €4.4m | €4.2m | ▼ 5.0% |
| Fixed assets21/28 | €3.7m | €3.7m | €3.6m | €3.6m | €3.5m | ▼ 2.3% |
| Tangible fixed assets22/27 | €3.7m | €3.7m | €3.6m | €3.6m | €3.5m | ▼ 2.3% |
| Land and buildings22 | - | €3.6m | €3.6m | €3.5m | €3.5m | ▼ 1.9% |
| Furniture and vehicles24 | - | €13,472 | €73,104 | €52,324 | €37,345 | ▼ 28.6% |
| Current assets29/58 | €755,336 | €758,204 | €758,356 | €837,463 | €701,356 | ▼ 16.3% |
| Stocks and contracts in progress3 | - | - | €509,904 | €509,891 | €554,695 | ▲ 8.8% |
| Stocks30/36 | - | - | €509,904 | €509,891 | €554,695 | ▲ 8.8% |
| Amounts receivable within one year40/41 | €555,320 | €577,929 | €172,064 | €47,885 | €1,336 | ▼ 97.2% |
| Trade receivables40 | - | €509,904 | €121,000 | €3,081 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €68,025 | €51,064 | €44,804 | €1,336 | ▼ 97.0% |
| Cash at bank and in hand54/58 | €199,643 | €180,275 | €76,351 | €279,688 | €145,325 | ▼ 48.0% |
| Deferred charges and accrued income490/1 | - | - | €36 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.5m | €4.4m | €4.4m | €4.4m | €4.2m | ▼ 5.0% |
| Equity10/15 | €2.2m | €2.2m | €2.2m | €2.2m | €2.1m | ▼ 3.9% |
| Contributions10/11 | €260,000 | €260,015 | €260,015 | €260,015 | €260,015 | = |
| Capital10 | - | €260,000 | €260,000 | €260,000 | €260,000 | = |
| Issued capital100 | - | €260,000 | €260,000 | €260,000 | €260,000 | = |
| Outside capital11 | - | €15 | €15 | €15 | €15 | = |
| Share premium1100/10 | - | €15 | €15 | €15 | €15 | = |
| Reserves13 | €1.7m | €1.6m | €1.6m | €1.6m | €1.5m | ▼ 2.3% |
| Non-distributable reserves130/1 | - | €26,000 | €26,000 | €26,000 | €26,000 | = |
| Legal reserve130 | - | €26,000 | €26,000 | €26,000 | €26,000 | = |
| Tax-exempt reserves132 | - | €830,919 | €795,619 | €760,319 | €725,019 | ▼ 4.6% |
| Distributable reserves133 | - | €774,879 | €774,879 | €774,879 | €774,879 | = |
| Profit (loss) carried forward14 | €243,567 | €263,305 | €350,951 | €358,036 | €309,374 | ▼ 13.6% |
| Provisions and deferred taxes16 | €272,476 | €263,866 | €252,099 | €240,332 | €228,565 | ▼ 4.9% |
| Deferred taxes168 | - | €263,866 | €252,099 | €240,332 | €228,565 | ▼ 4.9% |
| Amounts payable17/49 | €2.1m | €2.0m | €1.9m | €2.0m | €1.9m | ▼ 6.2% |
| Amounts payable after more than one year17 | €1.4m | €1.3m | €1.3m | €1.2m | €1.1m | ▼ 8.6% |
| Financial debts170/4 | - | €1.3m | €1.3m | €1.2m | €914,679 | ▼ 23.2% |
| Advances received on contracts in progress176 | - | €12,892 | €16,492 | €17,764 | - | - |
| Other amounts payable178/9 | - | - | - | - | €190,764 | - |
| Amounts payable within one year42/48 | €580,415 | €648,171 | €609,429 | €802,189 | €784,127 | ▼ 2.3% |
| Current portion of amounts payable after more than one year42 | - | €106,742 | €99,612 | €101,599 | €103,642 | ▲ 2.0% |
| Trade debts44 | €10,973 | €14,228 | €6,304 | €20,580 | €6,317 | ▼ 69.3% |
| Suppliers440/4 | - | €14,228 | €6,304 | €20,580 | €6,317 | ▼ 69.3% |
| Taxes, remuneration and social security45 | - | €23,377 | €34,176 | €36,673 | €19,781 | ▼ 46.1% |
| Taxes450/3 | - | €23,377 | €34,176 | €36,673 | €19,781 | ▼ 46.1% |
| Other amounts payable47/48 | - | €503,824 | €469,337 | €643,338 | €654,387 | ▲ 1.7% |
| Accrued charges and deferred income492/3 | - | €671 | €18,650 | €3,211 | €893 | ▼ 72.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€208,500 | -€3,870 | €40,580 | €16,784 | -€83,962 | ▼ 600% |
| + Depreciation and write-downs630 | €100,138 | €84,955 | €88,740 | €96,968 | €93,529 | ▼ 3.5% |
| Operating cash flow (approximation) | -€108,362 | €81,084 | €129,320 | €113,753 | €9,567 | ▼ 91.6% |
| Investment in fixed assets (approximation) | - | €0 | -€75,394 | -€54,872 | -€9,885 | ▲ 82.0% |
| Change in cash | - | -€19,368 | -€103,924 | €203,336 | -€134,363 | ▼ 166% |
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
10-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 41 days late
16-05
State Gazette act
General meeting · Auditor reappointment
Director reappointment · Mandate compensation
2024
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
07-11
State Gazette act
General meeting · Auditor reappointment
Director reappointment · Permanent representative
07-11
State Gazette act
General meeting · Auditor reappointment
Director reappointment · Permanent representative
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
11-09
State Gazette act
Merger · Accounting effect
Corporate purpose · Real estate
26-05
State Gazette act
Demerger · Corporate purpose
Capital · Accounting effect
26-05
State Gazette act
Demerger · Corporate purpose
Capital · Accounting effect
2022
31-12
Financial
Back to profitnet €40,580
Net result €40,580 after 4 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
Show earlier events
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet -€208,500
Net result drops to -€208,500, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 1.30
Current ratio from 0.53 to 1.30; short-term debt falls from €780,039 to €580,415.
16-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
29-11
State Gazette act
Merger · Capital
Corporate purpose · Board composition
12-09
State Gazette act
General meeting · Board meeting
Director resignation · Director appointment
10-09
State Gazette act
General meeting · Board meeting
Director resignation · Director appointment
10-09
State Gazette act
General meeting · Board meeting
Director resignation · Director appointment
04-09
State Gazette act
General meeting · Board meeting
Director resignation · Director appointment
04-09
State Gazette act
General meeting · Board meeting
Director resignation · Permanent representative
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Nazareth · 1 establishment unit since 1989
Ground area
2,422 m²
Building footprint
454 m²
Volume, LiDAR
2,320 m³
Parcel 44048B0428/00R000, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ERTVELD
since 19892.046.665.653
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44048B0428/00R000 | Flanders | 2,422 m² | 1 · 454 m² | 10.4 m · 2 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.
Structure & network
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Bouw Francis Bostoen
Shared director
→
VEKABO
Shared director
→
Ownership & control
3 board mandatesBoard mandates of this companythis company sits on their board3
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 10,793 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
Founded27-06-1989
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437825930
Also
9925:BE0437825930
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.