ETA
ActiveSummary
ETA has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €76,304 and a net result of -€20,538. Equity is shrinking by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 24% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability62▲+1
Solvency46▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.06 against 0.06 in 2024; short-term debt: 78.7% and cash: 5% of total assets), and 78.7% of the assets are financed with debt.
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Signals
Six 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
21.3%
Return on assets
-5.7%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
18192122232425
2018 to 2025 · latest year -€20,538
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 31896 sector peers (2025).
NBB · sector comparisonPosition among 31896 sector peers
Solvency
better than 24%
← weakest
strongest →
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 22-04-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
27 d late
2023
4 d early
2022
5 d early
2021
8 d early
2019
7 d early
2018
5 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 1 day before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€76,304▼ 21.2%
2024 · €96,843
Total assets
€357,936▼ 5.1%
2024 · €377,183
Net result
-€20,538▲ 8.6%
2024 · -€22,479
Working capital
-€263,653▲ 0.2%
2024 · -€264,268
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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-€18,328--€25,644▼ 39.9%-€44,622▼ 74.0%-€22,368▲ 49.9%-€20,461▲ 8.5%
Net result-€18,390below the sector's middle half--€25,736below the sector's middle half▼ 39.9%-€56,499below the sector's middle half▼ 120%-€22,479below the sector's middle half▲ 60.2%-€20,538below the sector's middle half▲ 8.6%
Equity€201,557within the sector's middle half-€175,821within the sector's middle half▼ 12.8%€119,322within the sector's middle half▼ 32.1%€96,843within the sector's middle half▼ 18.8%€76,304within the sector's middle half▼ 21.2%
Total assets€274,536within the sector's middle half-€425,833within the sector's middle half▲ 55.1%€396,733within the sector's middle half▼ 6.8%€377,183within the sector's middle half▼ 4.9%€357,936within the sector's middle half▼ 5.1%
Debt€72,979-€250,012▲ 243%€277,411▲ 11.0%€280,341▲ 1.1%€281,632▲ 0.5%
Working capital-€63,776--€212,991▼ 234%-€250,127▼ 17.4%-€264,268▼ 5.7%-€263,653▲ 0.2%
Solvency73.4%within the sector's middle half-41.3%within the sector's middle half▼ 32.1pp30.1%within the sector's middle half▼ 11.2pp25.7%below the sector's middle half▼ 4.4pp21.3%below the sector's middle half▼ 4.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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 stays negative: a loss of €20,461 in 2025 against €22,368 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €357,936
Fixed assets
€339,957 ▼ 5.9%
Current assets
€17,978 ▲ 11.9%
Equity and liabilities €357,936
Equity
€76,304 ▼ 21.2%
Debt
€281,632 ▲ 0.5%
Debt's share of the balance-sheet total rises from 74.3% to 78.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2,933▲
2024 · €2,472
Cash flow
€2,855▲
2024 · €2,360
Current ratio
0.06▲
2024 · 0.06
Debt to equity
3.69▲
2024 · 2.89
ROE
-26.9%▼
2024 · -23.2%
ROA
-5.7%▲
2024 · -6.0%
Interest coverage
37.48▲
2024 · 22.14
Debt ≤ 1 year
€281,632▲
2024 · €280,341
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,448 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 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 2,448 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €960 | €621 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,801 | €10,591 | €19,257 | €24,839 | €23,393 | ▼ 5.8% |
| Other operating charges640/8 | €3,817 | €2,975 | €8,417 | €3,532 | €4,071 | ▲ 15.3% |
| Gross operating margin9900 | -€5,711 | -€11,118 | -€16,327 | €6,003 | €7,004 | ▲ 16.7% |
| Operating profit (loss)9901 | -€18,328 | -€25,644 | -€44,622 | -€22,368 | -€20,461 | ▲ 8.5% |
| Financial income75/76B | - | - | €0 | - | €0 | - |
| Recurring financial income75 | - | - | €0 | - | €0 | - |
| Financial charges65/66B | €62 | €92 | €910 | €112 | €78 | ▼ 29.9% |
| Recurring financial charges65 | €62 | €92 | €910 | €112 | €78 | ▼ 29.9% |
| Profit (loss) for the period before taxes9903 | -€18,390 | -€25,736 | -€45,532 | -€22,479 | -€20,538 | ▲ 8.6% |
| Income taxes67/77 | - | - | €10,967 | - | - | - |
| Profit (loss) for the period9904 | -€18,390 | -€25,736 | -€56,499 | -€22,479 | -€20,538 | ▲ 8.6% |
| Profit (loss) for the period to be appropriated9905 | -€18,390 | -€25,736 | -€56,499 | -€22,479 | -€20,538 | ▲ 8.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €274,536 | €425,833 | €396,733 | €377,183 | €357,936 | ▼ 5.1% |
| Fixed assets21/28 | €265,333 | €388,812 | €369,449 | €361,111 | €339,957 | ▼ 5.9% |
| Tangible fixed assets22/27 | €265,333 | €388,812 | €369,449 | €361,111 | €339,957 | ▼ 5.9% |
| Land and buildings22 | €262,306 | €386,794 | €367,419 | €359,470 | €338,811 | ▼ 5.7% |
| Plant, machinery and equipment23 | €3,027 | €2,018 | €1,009 | - | €326 | - |
| Furniture and vehicles24 | - | - | €1,021 | €1,641 | €821 | ▼ 50.0% |
| Current assets29/58 | €9,203 | €37,021 | €27,284 | €16,072 | €17,978 | ▲ 11.9% |
| Amounts receivable within one year40/41 | €424 | - | €17,393 | €12,100 | - | - |
| Trade receivables40 | €424 | - | €9,895 | €12,100 | - | - |
| Other amounts receivable41 | - | - | €7,498 | - | - | - |
| Cash at bank and in hand54/58 | €8,779 | €37,021 | €9,891 | €3,972 | €17,978 | ▲ 353% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €274,536 | €425,833 | €396,733 | €377,183 | €357,936 | ▼ 5.1% |
| Equity10/15 | €201,557 | €175,821 | €119,322 | €96,843 | €76,304 | ▼ 21.2% |
| Contributions10/11 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Capital10 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Issued capital100 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Reserves13 | €8,627 | €8,627 | €8,627 | €8,627 | €8,627 | = |
| Non-distributable reserves130/1 | €8,627 | €8,627 | €8,627 | €8,627 | €8,627 | = |
| Legal reserve130 | €8,627 | €8,627 | €8,627 | €8,627 | €8,627 | = |
| Profit (loss) carried forward14 | -€507,070 | -€532,806 | -€589,305 | -€611,784 | -€632,323 | ▼ 3.4% |
| Amounts payable17/49 | €72,979 | €250,012 | €277,411 | €280,341 | €281,632 | ▲ 0.5% |
| Amounts payable within one year42/48 | €72,979 | €250,012 | €277,411 | €280,341 | €281,632 | ▲ 0.5% |
| Trade debts44 | €1,214 | €614 | €754 | €1,014 | €539 | ▼ 46.8% |
| Suppliers440/4 | €1,214 | €614 | €754 | €1,014 | €539 | ▼ 46.8% |
| Taxes, remuneration and social security45 | €6,652 | €38,482 | €2,082 | €4,725 | €2,280 | ▼ 51.7% |
| Taxes450/3 | €6,652 | €27,773 | €2,082 | €4,725 | €2,280 | ▼ 51.7% |
| Remuneration and social security454/9 | - | €10,709 | - | - | - | - |
| Other amounts payable47/48 | €65,113 | €210,916 | €274,574 | €274,602 | €278,812 | ▲ 1.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,390 | -€25,736 | -€56,499 | -€22,479 | -€20,538 | ▲ 8.6% |
| + Depreciation and write-downs630 | €8,801 | €10,591 | €19,257 | €24,839 | €23,393 | ▼ 5.8% |
| Operating cash flow (approximation) | -€9,590 | -€15,145 | -€37,242 | €2,360 | €2,855 | ▲ 21.0% |
| Investment in fixed assets (approximation) | - | -€134,070 | €107 | -€16,502 | -€2,240 | ▲ 86.4% |
| Change in cash | - | €28,242 | -€27,130 | -€5,918 | €14,006 | ▲ 337% |
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
22-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet -€56,499
Net result drops to -€56,499, the lowest in the series; recovery starts the following year.
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
24-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2012
19-10
State Gazette act
Capital increase · Bank account
Share issue · Director resignation
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Boechout · 1 establishment unit since 1993
Ground area
4,885 m²
Building footprint
189 m²
Volume, LiDAR
1,845 m³
Parcel 11004D0122/00D000, Flanders · tallest building 14.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Heuvelstraat 40, 2530 Boechout
since 19932.131.084.159
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11004D0122/00D000 | Flanders | 4,885 m² | 1 · 189 m² | 14.7 m · 3 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
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 39,942 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
Founded04-05-1993
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
47791Retail sale of antiques
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450068122
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.