ESH
ActiveSummary
ESH has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €284,163 and a net result of €128,894. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 48% of 36381 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability94▲+14
Solvency70=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.66 against 1.34 in 2023; short-term debt: 55.4% and cash: 0% of total assets), but 55.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-11-2025, 117 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
117 d late
2023
76 d late
2022
67 d late
2021
85 d late
2020
61 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 72 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€820,448
EBIT margin
3.5%
Net result
€128,894▲ 303%
2023 · €31,963
Working capital
€233,934▲ 256%
2023 · €65,781
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Turnover€820,448
Operating result€28,553▲ 16.8%€10,340▼ 63.8%€11,973▲ 15.8%€56,323▲ 370%€177,297▲ 215%
Net result€21,505within the sector's middle half▲ 46.9%€5,772within the sector's middle half▼ 73.2%€5,366within the sector's middle half▼ 7.0%€31,963above the sector's middle half▲ 496%€128,894above the sector's middle half▲ 303%
EBIT margin3.5%
Equity€112,168within the sector's middle half▲ 23.7%€117,940within the sector's middle half▲ 5.1%€123,306within the sector's middle half▲ 4.5%€155,269above the sector's middle half▲ 25.9%€284,163above the sector's middle half▲ 83.0%
Total assets€197,229within the sector's middle half▼ 14.4%€243,863within the sector's middle half▲ 23.6%€257,038within the sector's middle half▲ 5.4%€348,095above the sector's middle half▲ 35.4%€637,497above the sector's middle half▲ 83.1%
Debt€85,061▼ 39.2%€125,923▲ 48.0%€133,732▲ 6.2%€192,826▲ 44.2%€353,334▲ 83.2%
Working capital€65,771within the sector's middle half▲ 15.9%€70,664within the sector's middle half▲ 7.4%€30,485within the sector's middle half▼ 56.9%€65,781within the sector's middle half▲ 116%€233,934above the sector's middle half▲ 256%
Solvency56.9%within the sector's middle half▲ 17.5pp48.4%within the sector's middle half▼ 8.5pp48.0%within the sector's middle half▼ 0.4pp44.6%within the sector's middle half▼ 3.4pp44.6%within the sector's middle half=
Current ratio2.12within the sector's middle half▲ 0.621.62within the sector's middle half▼ 0.491.23within the sector's middle half▼ 0.391.34within the sector's middle half▲ 0.111.66within the sector's middle half▲ 0.32
Return on assets (ROA)10.9%within the sector's middle half▲ 4.6pp2.4%within the sector's middle half▼ 8.5pp2.1%within the sector's middle half▼ 0.3pp9.2%within the sector's middle half▲ 7.1pp20.2%above the sector's middle half▲ 11.0pp
Staff (FTE)1.3
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 215% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €637,497
Fixed assets
€50,229 ▼ 43.9%
Current assets
€587,268 ▲ 127%
Equity and liabilities €637,497
Equity
€284,163 ▲ 83.0%
Debt
€353,334 ▲ 83.2%
Debt's share of the balance-sheet total stays at 55.4%.
Key figures and ratios
EBITDA
€204,056▲
2023 · €84,553
Cash flow
€155,653▲
2023 · €60,192
Quick ratio
1.59▲
2023 · 1.14
Debt to equity
1.24▲
2023 · 1.24
ROE
45.4%▲
2023 · 20.6%
Interest coverage
33.26▲
2023 · 12.16
Debt ≤ 1 year
€353,334▲
2023 · €192,826
Income taxes
€42,268▲
2023 · €17,409
Staff costs
€71,773▼
2023 · €152,339
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,338 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 34,696 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €820,448 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €90,219 | €94,732 | €152,339 | €71,773 | ▼ 52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,470 | €12,763 | €17,518 | €28,229 | €26,759 | ▼ 5.2% |
| Other operating charges640/8 | - | €2,665 | €6,696 | €6,388 | €10,054 | ▲ 57.4% |
| Gross operating margin9900 | €93,784 | €115,987 | €130,919 | €243,280 | €285,883 | ▲ 17.5% |
| Operating profit (loss)9901 | €28,553 | €10,340 | €11,973 | €56,323 | €177,297 | ▲ 215% |
| Financial charges65/66B | - | €1,114 | €1,989 | €6,951 | €6,134 | ▼ 11.8% |
| Recurring financial charges65 | €2,166 | €1,114 | €1,989 | €6,951 | €6,134 | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €26,387 | €9,226 | €9,984 | €49,372 | €171,162 | ▲ 247% |
| Income taxes67/77 | €4,882 | €3,454 | €4,618 | €17,409 | €42,268 | ▲ 143% |
| Profit (loss) for the period9904 | €21,505 | €5,772 | €5,366 | €31,963 | €128,894 | ▲ 303% |
| Profit (loss) for the period to be appropriated9905 | €21,505 | €5,772 | €5,366 | €31,963 | €128,894 | ▲ 303% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197,229 | €243,863 | €257,038 | €348,095 | €637,497 | ▲ 83.1% |
| Fixed assets21/28 | €72,497 | €59,735 | €92,821 | €89,488 | €50,229 | ▼ 43.9% |
| Tangible fixed assets22/27 | €72,497 | €59,735 | €92,821 | €89,488 | €50,229 | ▼ 43.9% |
| Plant, machinery and equipment23 | - | €39,329 | €32,774 | €26,219 | €19,664 | ▼ 25.0% |
| Furniture and vehicles24 | - | €16,346 | €56,567 | €60,369 | €28,245 | ▼ 53.2% |
| Other tangible fixed assets26 | - | €4,060 | €3,480 | €2,900 | €2,320 | ▼ 20.0% |
| Current assets29/58 | €124,731 | €184,128 | €164,217 | €258,607 | €587,268 | ▲ 127% |
| Stocks and contracts in progress3 | €97,347 | €78,697 | €35,847 | €39,487 | €24,743 | ▼ 37.3% |
| Stocks30/36 | - | €78,697 | €35,847 | €39,487 | €24,743 | ▼ 37.3% |
| Amounts receivable within one year40/41 | €4,426 | €93,168 | €106,966 | €183,865 | €562,525 | ▲ 206% |
| Trade receivables40 | - | €83,220 | €106,966 | €183,865 | €378,801 | ▲ 106% |
| Other amounts receivable41 | - | €9,948 | - | - | €183,724 | - |
| Cash at bank and in hand54/58 | €22,959 | €12,263 | €21,405 | €35,255 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197,229 | €243,863 | €257,038 | €348,095 | €637,497 | ▲ 83.1% |
| Equity10/15 | €112,168 | €117,940 | €123,306 | €155,269 | €284,163 | ▲ 83.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €91,708 | €97,480 | €102,846 | €134,809 | €263,703 | ▲ 95.6% |
| Amounts payable17/49 | €85,061 | €125,923 | €133,732 | €192,826 | €353,334 | ▲ 83.2% |
| Amounts payable after more than one year17 | €26,101 | €12,459 | - | - | - | - |
| Financial debts170/4 | - | €12,459 | - | - | - | - |
| Amounts payable within one year42/48 | €58,960 | €113,464 | €133,732 | €192,826 | €353,334 | ▲ 83.2% |
| Financial debts43 | - | €13,642 | €12,459 | - | €20,794 | - |
| Credit institutions430/8 | - | - | - | - | €20,794 | - |
| Other loans439 | - | €13,642 | €12,459 | - | - | - |
| Trade debts44 | €185 | €14,226 | €7,753 | €100,944 | €96,271 | ▼ 4.6% |
| Suppliers440/4 | - | €14,226 | €7,753 | €100,944 | €96,271 | ▼ 4.6% |
| Taxes, remuneration and social security45 | - | €10,924 | €27,630 | €34,958 | €102,480 | ▲ 193% |
| Taxes450/3 | - | €10,924 | €27,630 | €34,958 | €95,864 | ▲ 174% |
| Remuneration and social security454/9 | - | - | - | - | €6,615 | - |
| Other amounts payable47/48 | - | €74,672 | €85,890 | €56,925 | €133,790 | ▲ 135% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,505 | €5,772 | €5,366 | €31,963 | €128,894 | ▲ 303% |
| + Depreciation and write-downs630 | €10,470 | €12,763 | €17,518 | €28,229 | €26,759 | ▼ 5.2% |
| Operating cash flow (approximation) | €31,974 | €18,535 | €22,883 | €60,192 | €155,653 | ▲ 159% |
| Investment in fixed assets (approximation) | - | €0 | -€50,604 | -€24,897 | €12,500 | ▲ 150% |
| Change in cash | - | -€10,696 | €9,142 | €13,851 | -€35,255 | ▼ 355% |
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
25-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 117 days late
2024
31-12
Financial
Highest result since 2018net €128,894 ▲303%
Operating result €177,297, net result €128,894, both a record.
31-12
Financial
Equity above €200,000Eq €284,163 ▲83%
7 profitable years in a row build equity to €284,163.
15-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 76 days late
2023
31-12
Financial
Equity above €150,000Eq €155,269 ▲25.9%
6 profitable years in a row build equity to €155,269.
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 85 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Equity above €100,000Eq €112,168 ▲23.7%
3 profitable years in a row build equity to €112,168.
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 57 days late
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 49 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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 2013
Ground area
132 m²
Building footprint
132 m²
Volume, LiDAR
1,418 m³
Parcel 44021A1719/00E000, Flanders · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ESH
since 20132.219.232.712
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A1719/00E000 | Flanders | 132 m² | 1 · 132 m² | 15.3 m · 4 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.
Similar companies · same sector, comparable size
POLLET CHRIS
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Pelt · Eq €284,417
TOP WINDOWS
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Mouscron · Eq €284,463
ALGEMENE SCHRIJNWERKERIJ DAVY VAN AERDE
BE 0881.479.085
Brecht · Eq €284,464
G-INTERIEUR
BE 0695.662.323
Nieuwerkerken (Limb.) · Eq €283,794
Of 20,026 companies in sector 43320 we hold annual accounts for 9,139. 6,959 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 (pre-2019)
Founded12-08-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43332Laying of wooden floor and wall coverings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0817749689
Also
9925:BE0817749689
Registered
27-11-2025
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.