ETALMA
ActiveSummary
ETALMA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €601,954 and a net result of -€3,738. Equity is growing by ~12.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability32▼-5
Solvency82▲+1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 5.58 against 5.21 in 2023; short-term debt: 11.2% and cash: 62.5% of total assets), and 43.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
56.9%
Return on assets
-0.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
26 d late
2023
14 d late
2022
57 d late
2021
27 d early
2020
33 d early
2019
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 10 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€601,954▼ 0.6%
2023 · €605,692
Total assets
€1.1m▼ 1.6%
2023 · €1.1m
Net result
-€3,738▲ 71.1%
2023 · -€12,915
Working capital
€544,634▲ 2.4%
2023 · €531,967
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€10,909▼ 0.4%€5,902▼ 45.9%€460,311▲ 7,699%€25,865▼ 94.4%€14,941▼ 42.2%
Net result-€7,541▼ 1.9%-€12,636▼ 67.6%€314,550-€12,915-€3,738▲ 71.1%
Equity€316,692▼ 2.3%€304,057▼ 4.0%€618,607▲ 103%€605,692▼ 2.1%€601,954▼ 0.6%
Total assets€678,730▼ 2.0%€664,546▼ 2.1%€1.1m▲ 66.2%€1.1m▼ 2.7%€1.1m▼ 1.6%
Debt€330,962▼ 1.3%€331,527▲ 0.2%€331,917▲ 0.1%€320,254▼ 3.5%€312,823▼ 2.3%
Working capital€4,422€9,610▲ 117%€527,125▲ 5,385%€531,967▲ 0.9%€544,634▲ 2.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 42% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€394,071 ▼ 5.3%
Current assets
€663,428 ▲ 0.8%
Equity and liabilities €1.1m
Equity
€601,954 ▼ 0.6%
Provisions
€142,722 ▼ 3.8%
Debt
€312,823 ▼ 2.3%
Debt's share of the balance-sheet total falls from 29.8% to 29.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€36,932▼
2023 · €49,208
Cash flow
€18,253▲
2023 · €10,428
Current ratio
5.58▲
2023 · 5.21
Debt to equity
0.52▼
2023 · 0.53
ROE
-0.6%▲
2023 · -2.1%
ROA
-0.4%▲
2023 · -1.2%
Interest coverage
1.62▼
2023 · 2.34
Debt ≤ 1 year
€118,794▼
2023 · €126,225
Debt > 1 year
€194,029=
2023 · €194,029
Income taxes
€1,776▼
2023 · €23,356
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% 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 497,338 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 8,611 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €463,182 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,204 | €25,965 | €23,343 | €23,343 | €21,991 | ▼ 5.8% |
| Other operating charges640/8 | - | €9,197 | €8,513 | €9,564 | €8,685 | ▼ 9.2% |
| Gross operating margin9900 | €45,560 | €41,065 | €492,166 | €58,772 | €45,617 | ▼ 22.4% |
| Operating profit (loss)9901 | €10,909 | €5,902 | €460,311 | €25,865 | €14,941 | ▼ 42.2% |
| Financial income75/76B | - | - | €20 | €19 | €336 | ▲ 1,691% |
| Recurring financial income75 | €0 | - | €20 | €19 | €336 | ▲ 1,691% |
| Financial charges65/66B | - | €20,091 | €20,291 | €21,029 | €22,824 | ▲ 8.5% |
| Recurring financial charges65 | €20,004 | €20,091 | €20,291 | €21,029 | €22,824 | ▲ 8.5% |
| Profit (loss) for the period before taxes9903 | -€9,095 | -€14,189 | €440,040 | €4,855 | -€7,548 | ▼ 255% |
| Transfer from deferred taxes780 | - | €2,112 | - | €5,586 | €5,586 | = |
| Transfer to deferred taxes680 | - | - | €124,931 | - | - | - |
| Income taxes67/77 | €559 | €559 | €559 | €23,356 | €1,776 | ▼ 92.4% |
| Profit (loss) for the period9904 | -€7,541 | -€12,636 | €314,550 | -€12,915 | -€3,738 | ▲ 71.1% |
| Transfer from tax-exempt reserves789 | - | €6,336 | - | €16,758 | €16,758 | = |
| Transfer to tax-exempt reserves689 | - | - | €365,129 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€1,205 | -€6,300 | -€50,579 | €3,843 | €13,020 | ▲ 239% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €678,730 | €664,546 | €1.1m | €1.1m | €1.1m | ▼ 1.6% |
| Fixed assets21/28 | €546,532 | €520,566 | €439,405 | €416,062 | €394,071 | ▼ 5.3% |
| Tangible fixed assets22/27 | €546,170 | €520,205 | €439,043 | €415,700 | €393,709 | ▼ 5.3% |
| Land and buildings22 | - | €518,903 | €438,094 | €415,102 | €393,463 | ▼ 5.2% |
| Furniture and vehicles24 | - | €1,301 | €950 | €598 | €247 | ▼ 58.8% |
| Financial fixed assets28 | €362 | €362 | €362 | €362 | €362 | = |
| Current assets29/58 | €132,198 | €143,980 | €665,013 | €658,192 | €663,428 | ▲ 0.8% |
| Amounts receivable within one year40/41 | - | - | €7,980 | €7,980 | - | - |
| Other amounts receivable41 | - | - | €7,980 | €7,980 | - | - |
| Cash at bank and in hand54/58 | €130,060 | €142,310 | €655,229 | €648,236 | €661,408 | ▲ 2.0% |
| Deferred charges and accrued income490/1 | - | €1,670 | €1,804 | €1,976 | €2,020 | ▲ 2.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €678,730 | €664,546 | €1.1m | €1.1m | €1.1m | ▼ 1.6% |
| Equity10/15 | €316,692 | €304,057 | €618,607 | €605,692 | €601,954 | ▼ 0.6% |
| Contributions10/11 | €321,100 | €321,100 | €321,100 | €321,100 | €321,100 | = |
| Capital10 | - | €321,100 | €321,100 | €321,100 | €321,100 | = |
| Issued capital100 | - | €321,100 | €321,100 | €321,100 | €321,100 | = |
| Reserves13 | €147,505 | €141,169 | €506,297 | €489,539 | €485,802 | ▼ 0.8% |
| Non-distributable reserves130/1 | - | €29,356 | €29,356 | €29,356 | €29,356 | = |
| Legal reserve130 | - | €29,356 | €29,356 | €29,356 | €29,356 | = |
| Tax-exempt reserves132 | - | €66,335 | €431,464 | €414,706 | €397,948 | ▼ 4.0% |
| Distributable reserves133 | - | €45,477 | €45,477 | €45,477 | €58,497 | ▲ 28.6% |
| Profit (loss) carried forward14 | -€151,912 | -€158,212 | -€208,791 | -€204,948 | -€204,948 | = |
| Provisions and deferred taxes16 | €31,075 | €28,963 | €153,894 | €148,308 | €142,722 | ▼ 3.8% |
| Deferred taxes168 | - | €28,963 | €153,894 | €148,308 | €142,722 | ▼ 3.8% |
| Amounts payable17/49 | €330,962 | €331,527 | €331,917 | €320,254 | €312,823 | ▼ 2.3% |
| Amounts payable after more than one year17 | €203,186 | €197,157 | €194,029 | €194,029 | €194,029 | = |
| Financial debts170/4 | - | €197,157 | €194,029 | €194,029 | €194,029 | = |
| Amounts payable within one year42/48 | €127,777 | €134,370 | €137,888 | €126,225 | €118,794 | ▼ 5.9% |
| Current portion of amounts payable after more than one year42 | - | €11,629 | €10,448 | €10,500 | €10,100 | ▼ 3.8% |
| Trade debts44 | €911 | €995 | €334 | €1,092 | €437 | ▼ 60.0% |
| Suppliers440/4 | - | €995 | €334 | €1,092 | €437 | ▼ 60.0% |
| Taxes, remuneration and social security45 | - | €6,182 | €6,797 | €6,581 | €8,305 | ▲ 26.2% |
| Taxes450/3 | - | €6,182 | €6,797 | €6,581 | €8,305 | ▲ 26.2% |
| Other amounts payable47/48 | - | €115,564 | €120,309 | €108,052 | €99,952 | ▼ 7.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,541 | -€12,636 | €314,550 | -€12,915 | -€3,738 | ▲ 71.1% |
| + Depreciation and write-downs630 | €26,204 | €25,965 | €23,343 | €23,343 | €21,991 | ▼ 5.8% |
| Operating cash flow (approximation) | €18,663 | €13,329 | €337,893 | €10,428 | €18,253 | ▲ 75.0% |
| Investment in fixed assets (approximation) | - | €0 | €57,818 | €0 | €0 | - |
| Change in cash | - | €12,249 | €512,919 | -€6,993 | €13,172 | ▲ 288% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
31-12
Financial
Weakest financial yearnet -€12,915
Net result drops to -€12,915, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 57 days late
2022
31-12
Financial
Back to profitnet €314,550
Net result €314,550 after 4 loss-making years.
31-12
Financial
Liquidity times 5current ratio 4.82
Current ratio from 1.07 to 4.82.
31-12
Financial
Equity above €500,000Eq €618,607 ▲103%
Equity rises from €304,057 to €618,607.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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 1993
Ground area
984 m²
Building footprint
186 m²
Volume, LiDAR
952 m³
Parcel 44074C0276/00E000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Lariksstraat 18, 9032 Gent
since 19932.060.763.911
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44074C0276/00E000 | Flanders | 984 m² | 1 · 186 m² | 8.5 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.
Identification & contact
Identification
Legal formPublic limited company
Founded21-12-1992
Fiscal year end31-12
Contact
Phone
09/ 258 08 95Gent
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449024975
Also
9925:BE0449024975
Registered
19-11-2025
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.