ESTARTES
ActiveSummary
ESTARTES has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €239k and a net result of €7k. Equity is growing by ~22.8% per year across the filed fiscal years. Its solvency ranks better than 84% of 2699 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-10
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity ample (current ratio 6.01 against 4.55 in 2024; short-term debt: 16.1% and cash: 12% of total assets), and 16.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
83.9%
Return on assets
2.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
20 d early
2021
32 d early
2020
23 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€239k▲ 3.2%
2024 · €231k
2020: €32klowest in 6 years
2021: €116k▲ +265% vs 2020
2022: €156k▲ +35.1% vs 2021
2023: €200k▲ +27.6% vs 2022
2024: €231k▲ +15.8% vs 2023
2025: €239k▲ +3.2% vs 2024highest in 6 years
2020 → 2025
Total assets
€285k▼ 3.3%
2024 · €294k
2020: €49klowest in 6 years
2021: €155k▲ +217% vs 2020
2022: €214k▲ +38.1% vs 2021
2023: €257k▲ +19.8% vs 2022
2024: €294k▲ +14.7% vs 2023highest in 6 years
2025: €285k▼ -3.3% vs 2024
2020 → 2025
Net result
€7k▼ 76.6%
2024 · €32k
2020: €26k
2021: €84k▲ +227% vs 2020highest in 6 years
2022: €41k▼ -51.6% vs 2021
2023: €43k▲ +6.3% vs 2022
2024: €32k▼ -27.1% vs 2023
2025: €7k▼ -76.6% vs 2024lowest in 6 years
2020 → 2025
Working capital
€230k▲ 4.5%
2024 · €220k
2020: €32klowest in 6 years
2021: €113k▲ +256% vs 2020
2022: €144k▲ +27.2% vs 2021
2023: €186k▲ +29.6% vs 2022
2024: €220k▲ +18.1% vs 2023
2025: €230k▲ +4.5% vs 2024highest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€116k-€156k▲ 35.1%€200k▲ 27.6%€231k▲ 15.8%€239k▲ 3.2%
2021: €116klowest in 5 years
2022: €156k▲ +35.1% vs 2021
2023: €200k▲ +27.6% vs 2022
2024: €231k▲ +15.8% vs 2023
2025: €239k▲ +3.2% vs 2024highest in 5 years
Operating result€106k-€53k▼ 49.5%€55k▲ 3.6%€37k▼ 32.7%€1k▼ 96.6%
2021: €106khighest in 5 years
2022: €53k▼ -49.5% vs 2021
2023: €55k▲ +3.6% vs 2022
2024: €37k▼ -32.7% vs 2023
2025: €1k▼ -96.6% vs 2024lowest in 5 years
Net result€84k-€41k▼ 51.6%€43k▲ 6.3%€32k▼ 27.1%€7k▼ 76.6%
2021: €84khighest in 5 years
2022: €41k▼ -51.6% vs 2021
2023: €43k▲ +6.3% vs 2022
2024: €32k▼ -27.1% vs 2023
2025: €7k▼ -76.6% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 97% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €285k
Fixed assets
€9k ▼ 29.8%
Current assets
€276k ▼ 2.2%
Equity and liabilities €285k
Equity
€239k ▲ 3.2%
Debt
€46k ▼ 27.2%
Debt's share of the balance-sheet total falls from 21.4% to 16.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5k▼
2024 · €41k
Cash flow
€11k▼
2024 · €36k
Current ratio
6.01▲
2024 · 4.55
Debt to equity
0.19▼
2024 · 0.27
ROE
3.1%▼
2024 · 13.6%
ROA
2.6%▼
2024 · 10.7%
Interest coverage
8.45▼
2024 · 35.55
Debt ≤ 1 year
€46k▼
2024 · €62k
Income taxes
€4k▼
2024 · €14k
Staff costs
€45k▲
2024 · €44k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€294k€285k▼
Fixed assets21/28€12k€9k▼
Tangible fixed assets22/27€12k€9k▼
Land and buildings22€8k€8k▼
Plant, machinery and equipment23€330€115▼
Furniture and vehicles24€4k€938▼
Current assets29/58€282k€276k▼
Amounts receivable within one year40/41€208k€242k▲
Trade receivables40€46k€52k▲
Other amounts receivable41€162k€190k▲
Cash at bank and in hand54/58€74k€34k▼
Equity and liabilities
Total equity and liabilities10/49€294k€285k▼
Equity10/15€231k€239k▲
Contributions10/11€6k€6k=
Reserves13€75k€82k▲
Distributable reserves133€75k€82k▲
Profit (loss) carried forward14€150k€150k=
Amounts payable17/49€63k€46k▼
Amounts payable after more than one year17€1k-
Financial debts170/4€1k-
Amounts payable within one year42/48€62k€46k▼
Current portion of amounts payable after more than one year42€2k€1k▼
Trade debts44€27k€24k▼
Suppliers440/4€27k€24k▼
Taxes, remuneration and social security45€33k€21k▼
Taxes450/3€24k€11k▼
Remuneration and social security454/9€9k€9k▲
Income statement
Code20242025
Non-recurring operating income76A-€11k
Remuneration, social security and pensions62€44k€45k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€1k€54▼
Gross operating margin9900€86k€50k▼
Operating profit (loss)9901€37k€1k▼
Financial income75/76B€10k€11k▲
Recurring financial income75€10k€11k▲
Financial charges65/66B€1k€582▼
Recurring financial charges65€1k€582▼
Profit (loss) for the period before taxes9903€46k€11k▼
Income taxes67/77€14k€4k▼
Profit (loss) for the period9904€32k€7k▼
Profit (loss) for the period to be appropriated9905€32k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€182k€158k▼
Profit (loss) brought forward from the previous period14P€150k€150k=
Transfer to equity691/2€32k€7k▼
To other reserves6921€32k€7k▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €11k | - |
| Remuneration, social security and pensions62 | - | €12k | €49k | €44k | €45k | ▲ 4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €149 | €1k | €4k | €4k | €4k | ▼ 14.6% |
| Other operating charges640/8 | €339 | €118 | €4k | €1k | €54 | ▼ 95.7% |
| Gross operating margin9900 | €106k | €66k | €112k | €86k | €50k | ▼ 41.6% |
| Operating profit (loss)9901 | €106k | €53k | €55k | €37k | €1k | ▼ 96.6% |
| Financial income75/76B | €256 | €3 | €8k | €10k | €11k | ▲ 11.0% |
| Recurring financial income75 | €256 | €3 | €8k | €10k | €11k | ▲ 11.0% |
| Financial charges65/66B | €135 | €86 | €2k | €1k | €582 | ▼ 50.1% |
| Recurring financial charges65 | €135 | €86 | €2k | €1k | €582 | ▼ 50.1% |
| Profit (loss) for the period before taxes9903 | €106k | €53k | €61k | €46k | €11k | ▼ 75.1% |
| Income taxes67/77 | €22k | €13k | €18k | €14k | €4k | ▼ 71.9% |
| Profit (loss) for the period9904 | €84k | €41k | €43k | €32k | €7k | ▼ 76.6% |
| Profit (loss) for the period to be appropriated9905 | €84k | €41k | €43k | €32k | €7k | ▼ 76.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €155k | €214k | €257k | €294k | €285k | ▼ 3.3% |
| Fixed assets21/28 | €3k | €13k | €16k | €12k | €9k | ▼ 29.8% |
| Tangible fixed assets22/27 | €3k | €13k | €16k | €12k | €9k | ▼ 29.8% |
| Land and buildings22 | - | €8k | €8k | €8k | €8k | ▼ 3.2% |
| Plant, machinery and equipment23 | €974 | €759 | €545 | €330 | €115 | ▼ 65.2% |
| Furniture and vehicles24 | €2k | €4k | €8k | €4k | €938 | ▼ 77.2% |
| Current assets29/58 | €152k | €201k | €240k | €282k | €276k | ▼ 2.2% |
| Amounts receivable within one year40/41 | €19k | €160k | €185k | €208k | €242k | ▲ 16.2% |
| Trade receivables40 | €16k | €13k | €31k | €46k | €52k | ▲ 12.7% |
| Other amounts receivable41 | €3k | €146k | €155k | €162k | €190k | ▲ 17.2% |
| Cash at bank and in hand54/58 | €132k | €27k | €52k | €74k | €34k | ▼ 53.9% |
| Deferred charges and accrued income490/1 | €2k | €15k | €2k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €155k | €214k | €257k | €294k | €285k | ▼ 3.3% |
| Equity10/15 | €116k | €156k | €200k | €231k | €239k | ▲ 3.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | - | - | €43k | €75k | €82k | ▲ 9.9% |
| Distributable reserves133 | - | - | €43k | €75k | €82k | ▲ 9.9% |
| Profit (loss) carried forward14 | €110k | €150k | €150k | €150k | €150k | = |
| Amounts payable17/49 | €39k | €58k | €57k | €63k | €46k | ▼ 27.2% |
| Amounts payable after more than one year17 | - | - | €3k | €1k | - | - |
| Financial debts170/4 | - | - | €3k | €1k | - | - |
| Amounts payable within one year42/48 | €39k | €58k | €54k | €62k | €46k | ▼ 26.0% |
| Current portion of amounts payable after more than one year42 | - | - | €2k | €2k | €1k | ▼ 48.3% |
| Financial debts43 | €76 | - | - | - | - | - |
| Credit institutions430/8 | €76 | - | - | - | - | - |
| Trade debts44 | €4k | €15k | €5k | €27k | €24k | ▼ 10.3% |
| Suppliers440/4 | €4k | €15k | €5k | €27k | €24k | ▼ 10.3% |
| Taxes, remuneration and social security45 | €35k | €42k | €46k | €33k | €21k | ▼ 37.3% |
| Taxes450/3 | €35k | €42k | €41k | €24k | €11k | ▼ 52.6% |
| Remuneration and social security454/9 | - | €66 | €6k | €9k | €9k | ▲ 4.4% |
| Accrued charges and deferred income492/3 | - | €246 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €84k | €41k | €43k | €32k | €7k | ▼ 76.6% |
| + Depreciation and write-downs630 | €149 | €1k | €4k | €4k | €4k | ▼ 14.6% |
| Operating cash flow (approximation) | €84k | €42k | €47k | €36k | €11k | ▼ 69.2% |
| Investment in fixed assets (approximation) | - | €-11k | €-7k | €0 | €0 | - |
| Change in cash | - | €-105k | €25k | €21k | €-40k | ▼ 285% |
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
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €7k ▼76.6%
Net result drops to €7k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Equity above €200kEq €231k ▲15.8%
5 profitable years in a row build equity to €231k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150kEq €156k ▲35.1%
3 profitable years in a row build equity to €156k.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €84k ▲227%
Operating result €106k, net result €84k, both a record.
31-12
Financial
Equity above €100kEq €116k ▲265%
2 profitable years in a row build equity to €116k.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2020
Ground area
493 m²
Building footprint
282 m²
Volume, LiDAR
2,083 m³
2 parcels, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ESTARTES
since 20202.302.619.256
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11302A0320/00C009 | Flanders | 362 m² | 1 · 209 m² | 9.5 m · 3 fl. |
| 11302A0320/00R009 | Flanders | 131 m² | 1 · 73 m² | 10.9 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.
Recognitions · licences · registrations
Legal Entity Identifier
254900RCY3MJKEIF2J14
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Of 29,993 companies in sector 62200 we hold annual accounts for 18,396. 14,309 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
Founded13-05-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
58290Other software publishing
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
71112Activities of interior architects
74120Graphic design and visual communication
Contact
Website
www.estartes.com
E-mail
bart@estartes.com
Scores and ratios are computed by Checked and are not a credit decision.