ESW Electro
ActiveSummary
The computed 12-month bankruptcy probability of ESW Electro is 1.8% (moderate). The 2025 annual accounts show equity of €81,383 and a net result of €380. Equity is growing by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 79% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+54
Solvency99▲+11
Growth52=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 3.72 against 2.73 in 2024; short-term debt: 24.6% and cash: 12.6% of total assets), and 26.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 · 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
73.9%
Return on assets
0.3%
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 29-08-2026, 29 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
29 d late
2024
26 d late
2023
27 d late
2022
30 d late
2021
22 d late
2020
25 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 27 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 (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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€81,383▲ 0.5%
2024 · €81,003
Total assets
€110,152▼ 14.3%
2024 · €128,530
Net result
€380
2024 · -€4,070
Working capital
€73,557▼ 4.7%
2024 · €77,221
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
Line20212022202320242025
Operating result€21,013▼ 28.1%€17,806▼ 15.3%€44,019▲ 147%-€3,095€1,764
Net result€17,871within the sector's middle half▼ 19.6%€13,000within the sector's middle half▼ 27.3%€32,914above the sector's middle half▲ 153%-€4,070below the sector's middle half€380within the sector's middle half
Equity€42,101within the sector's middle half▲ 73.8%€55,100within the sector's middle half▲ 30.9%€88,014within the sector's middle half▲ 59.7%€81,003within the sector's middle half▼ 8.0%€81,383within the sector's middle half▲ 0.5%
Total assets€75,751within the sector's middle half▲ 7.4%€209,304within the sector's middle half▲ 176%€145,131within the sector's middle half▼ 30.7%€128,530within the sector's middle half▼ 11.4%€110,152within the sector's middle half▼ 14.3%
Debt€33,650▼ 27.3%€154,204▲ 358%€57,117▼ 63.0%€47,527▼ 16.8%€28,769▼ 39.5%
Working capital€48,770within the sector's middle half▲ 51.8%€60,542within the sector's middle half▲ 24.1%€92,236above the sector's middle half▲ 52.4%€77,221within the sector's middle half▼ 16.3%€73,557within the sector's middle half▼ 4.7%
Solvency55.6%within the sector's middle half▲ 21.2pp26.3%within the sector's middle half▼ 29.3pp60.6%within the sector's middle half▲ 34.3pp63.0%within the sector's middle half▲ 2.4pp73.9%above the sector's middle half▲ 10.9pp
Current ratio2.81within the sector's middle half▲ 0.971.41within the sector's middle half▼ 1.402.74within the sector's middle half▲ 1.342.73within the sector's middle half▼ 0.013.72above the sector's middle half▲ 0.98
Return on assets (ROA)23.6%above the sector's middle half▼ 7.9pp6.2%within the sector's middle half▼ 17.4pp22.7%above the sector's middle half▲ 16.5pp-3.2%below the sector's middle half▼ 25.8pp0.3%within the sector's middle half▲ 3.5pp
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
The operating result returns to profit in 2025: €1,764 after a loss of €3,095 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110,152
Fixed assets
€9,516 ▲ 41.2%
Current assets
€100,636 ▼ 17.4%
Equity and liabilities €110,152
Equity
€81,383 ▲ 0.5%
Debt
€28,769 ▼ 39.5%
Debt's share of the balance-sheet total falls from 37.0% to 26.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4,644▲
2024 · -€1,575
Cash flow
€3,260▲
2024 · -€2,550
Quick ratio
2.82▲
2024 · 2.20
Debt to equity
0.35▼
2024 · 0.59
ROE
0.5%▲
2024 · -5.0%
Interest coverage
19.93▲
2024 · -2.02
Debt ≤ 1 year
€27,079▼
2024 · €44,568
Debt > 1 year
€1,294▼
2024 · €2,575
Income taxes
€1,165▲
2024 · €223
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,662 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% | 1.7% |
| 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 75% 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 5,049 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 | - | - | - | €1,520 | €2,880 | ▲ 89.5% |
| Other operating charges640/8 | €996 | €1,024 | €1,226 | €1,152 | €1,034 | ▼ 10.2% |
| Gross operating margin9900 | €22,009 | €18,830 | €45,245 | -€423 | €5,678 | ▲ 1,442% |
| Operating profit (loss)9901 | €21,013 | €17,806 | €44,019 | -€3,095 | €1,764 | ▲ 157% |
| Financial income75/76B | €2,741 | €8 | €16 | €28 | €14 | ▼ 50.0% |
| Recurring financial income75 | €2,741 | €8 | €16 | €28 | €14 | ▼ 50.0% |
| Financial charges65/66B | €317 | €354 | €1,236 | €780 | €233 | ▼ 70.1% |
| Recurring financial charges65 | €317 | €354 | €1,236 | €780 | €233 | ▼ 70.1% |
| Profit (loss) for the period before taxes9903 | €23,437 | €17,460 | €42,799 | -€3,847 | €1,545 | ▲ 140% |
| Income taxes67/77 | €5,566 | €4,460 | €9,885 | €223 | €1,165 | ▲ 422% |
| Profit (loss) for the period9904 | €17,871 | €13,000 | €32,914 | -€4,070 | €380 | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €17,871 | €13,000 | €32,914 | -€4,070 | €380 | ▲ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,751 | €209,304 | €145,131 | €128,530 | €110,152 | ▼ 14.3% |
| Fixed assets21/28 | - | - | - | €6,741 | €9,516 | ▲ 41.2% |
| Intangible fixed assets21 | - | - | - | €3,549 | €2,426 | ▼ 31.6% |
| Tangible fixed assets22/27 | - | - | - | €3,192 | €7,090 | ▲ 122% |
| Furniture and vehicles24 | - | - | - | €3,192 | €7,090 | ▲ 122% |
| Current assets29/58 | €75,751 | €209,304 | €145,131 | €121,789 | €100,636 | ▼ 17.4% |
| Stocks and contracts in progress3 | €8,621 | €14,435 | €14,319 | €23,922 | €24,322 | ▲ 1.7% |
| Stocks30/36 | €8,621 | €12,789 | €14,319 | €23,922 | €24,322 | ▲ 1.7% |
| Contracts in progress37 | - | €1,646 | - | - | - | - |
| Amounts receivable within one year40/41 | €58,627 | €157,569 | €92,083 | €57,197 | €59,306 | ▲ 3.7% |
| Trade receivables40 | €58,627 | €155,361 | €85,897 | €53,420 | €55,529 | ▲ 3.9% |
| Other amounts receivable41 | - | €2,208 | €6,186 | €3,777 | €3,777 | = |
| Cash at bank and in hand54/58 | €7,586 | €36,316 | €37,723 | €39,643 | €13,910 | ▼ 64.9% |
| Deferred charges and accrued income490/1 | €917 | €984 | €1,006 | €1,027 | €3,098 | ▲ 202% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,751 | €209,304 | €145,131 | €128,530 | €110,152 | ▼ 14.3% |
| Equity10/15 | €42,101 | €55,100 | €88,014 | €81,003 | €81,383 | ▲ 0.5% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €40,101 | €53,100 | €86,014 | €79,003 | €79,383 | ▲ 0.5% |
| Distributable reserves133 | €40,101 | €53,100 | €86,014 | €79,003 | €79,383 | ▲ 0.5% |
| Amounts payable17/49 | €33,650 | €154,204 | €57,117 | €47,527 | €28,769 | ▼ 39.5% |
| Amounts payable after more than one year17 | €6,343 | €5,099 | €3,844 | €2,575 | €1,294 | ▼ 49.7% |
| Financial debts170/4 | €6,343 | €5,099 | €3,844 | €2,575 | €1,294 | ▼ 49.7% |
| Amounts payable within one year42/48 | €26,981 | €148,762 | €52,895 | €44,568 | €27,079 | ▼ 39.2% |
| Current portion of amounts payable after more than one year42 | €1,231 | €1,243 | €1,256 | €1,268 | - | - |
| Financial debts43 | - | - | - | - | €1,281 | - |
| Other loans439 | - | - | - | - | €1,281 | - |
| Trade debts44 | €13,921 | €44,585 | €45,629 | €40,698 | €19,413 | ▼ 52.3% |
| Suppliers440/4 | €13,921 | €44,585 | €45,629 | €40,698 | €19,413 | ▼ 52.3% |
| Advances received on contracts in progress46 | - | €100,288 | - | - | - | - |
| Taxes, remuneration and social security45 | €11,829 | €2,646 | €6,010 | €2,161 | €6,385 | ▲ 195% |
| Taxes450/3 | €9,629 | €1,446 | €4,310 | €661 | €4,185 | ▲ 533% |
| Remuneration and social security454/9 | €2,200 | €1,200 | €1,700 | €1,500 | €2,200 | ▲ 46.7% |
| Other amounts payable47/48 | - | - | - | €441 | - | - |
| Accrued charges and deferred income492/3 | €326 | €343 | €378 | €384 | €396 | ▲ 3.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,871 | €13,000 | €32,914 | -€4,070 | €380 | ▲ 109% |
| + Depreciation and write-downs630 | - | - | - | €1,520 | €2,880 | ▲ 89.5% |
| Operating cash flow (approximation) | €17,871 | €13,000 | €32,914 | -€2,550 | €3,260 | ▲ 228% |
| Investment in fixed assets (approximation) | - | - | - | - | -€5,655 | - |
| Change in cash | - | €28,730 | €1,407 | €1,920 | -€25,733 | ▼ 1,440% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Back to profitnet €380
Net result €380 after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Weakest financial yearnet -€4,070
Net result drops to -€4,070, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Highest result since 2020net €32,914 ▲153%
Operating result €44,019, net result €32,914, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
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, Wielsbeke · 1 establishment unit since 2019
Ground area
472 m²
Building footprint
140 m²
Volume, LiDAR
792 m³
Parcel 37009A0470/00C003, Flanders · tallest building 11.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ESW Electro
since 20192.292.520.665
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0470/00C003 | Flanders | 472 m² | 1 · 140 m² | 11.7 m · 1 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 170 EUR awarded · 170 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 170 EUR | 170 EUR |
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,335. 8,801 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
Founded19-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
62100Computer programming
Contact
E-mail
info@esw-electro.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0732677919
Also
9925:BE0732677919
Registered
29-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.