ETC
ActiveSummary
ETC has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €508,770 and a net result of €42,028. Equity remains stable across the filed fiscal years (±1.8% per year). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▼-36
Solvency63▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.53 against 0.36 in 2024; short-term debt: 28% and cash: 3.8% of total assets), and 62.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
37.7%
Return on assets
3.1%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-05-2026, 84 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
84 d early
2024
84 d early
2023
64 d early
2022
69 d early
2021
83 d early
2020
57 d early
2019
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 71 days before 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 (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. Usually files around 9 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€508,770▲ 9.0%
2024 · €466,743
Total assets
€1.4m▲ 1.3%
2024 · €1.3m
Net result
€42,028▼ 30.1%
2024 · €60,132
Working capital
-€179,601▲ 38.0%
2024 · -€289,447
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
Line20212022202320242025
Operating result€30,193▲ 1.8%€38,494▲ 27.5%€39,632▲ 3.0%€44,129▲ 11.3%€44,837▲ 1.6%
Net result€45,373▲ 1.0%€4,431▼ 90.2%€40,663▲ 818%€60,132▲ 47.9%€42,028▼ 30.1%
Equity€1.2m▲ 3.8%€1.2m▲ 0.4%€1.3m▲ 3.3%€466,743▼ 63.8%€508,770▲ 9.0%
Total assets€1.4m▲ 0.6%€1.4m▼ 2.3%€1.4m▲ 0.1%€1.3m▼ 3.3%€1.4m▲ 1.3%
Debt€167,138▼ 18.0%€130,050▼ 22.2%€90,297▼ 30.6%€867,020▲ 860%€842,501▼ 2.8%
Working capital€147,414▲ 28.6%€133,694▼ 9.3%€156,098▲ 16.8%-€289,447-€179,601▲ 38.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.2m ▼ 1.8%
Current assets
€198,900 ▲ 24.5%
Equity and liabilities €1.4m
Equity
€508,770 ▲ 9.0%
Debt
€842,501 ▼ 2.8%
Debt's share of the balance-sheet total falls from 65.0% to 62.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€66,501▲
2024 · €65,792
Cash flow
€63,691▼
2024 · €81,796
Current ratio
0.53▲
2024 · 0.36
Debt to equity
1.66▼
2024 · 1.86
ROE
8.3%▼
2024 · 12.9%
ROA
3.1%▼
2024 · 4.5%
Interest coverage
1.89▼
2024 · 5.95
Debt ≤ 1 year
€378,501▼
2024 · €449,175
Debt > 1 year
€464,000▲
2024 · €417,845
Income taxes
€3,438▼
2024 · €8,645
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €12 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,584 | €21,664 | €21,664 | €21,664 | €21,664 | = |
| Other operating charges640/8 | €2,266 | €2,322 | €2,544 | €2,647 | €2,731 | ▲ 3.1% |
| Gross operating margin9900 | €58,043 | €62,480 | €63,839 | €68,440 | €69,231 | ▲ 1.2% |
| Operating profit (loss)9901 | €30,193 | €38,494 | €39,632 | €44,129 | €44,837 | ▲ 1.6% |
| Financial income75/76B | €29,760 | €2,365 | €2,254 | €35,713 | €35,905 | ▲ 0.5% |
| Recurring financial income75 | €29,760 | €2,365 | €2,254 | €28,507 | €35,905 | ▲ 26.0% |
| Non-recurring financial income76B | - | - | - | €7,206 | - | - |
| Financial charges65/66B | €9,580 | €27,623 | -€8,134 | €11,065 | €35,276 | ▲ 219% |
| Recurring financial charges65 | €9,580 | €27,623 | €4,728 | €11,065 | €35,276 | ▲ 219% |
| Non-recurring financial charges66B | - | - | -€12,862 | - | - | - |
| Profit (loss) for the period before taxes9903 | €50,373 | €13,236 | €50,021 | €68,777 | €45,465 | ▼ 33.9% |
| Income taxes67/77 | €5,000 | €8,805 | €9,358 | €8,645 | €3,438 | ▼ 60.2% |
| Profit (loss) for the period9904 | €45,373 | €4,431 | €40,663 | €60,132 | €42,028 | ▼ 30.1% |
| Profit (loss) for the period to be appropriated9905 | €45,373 | €4,431 | €40,663 | €60,132 | €42,028 | ▼ 30.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.4m | €1.4m | €1.3m | €1.4m | ▲ 1.3% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 1.8% |
| Tangible fixed assets22/27 | €437,066 | €415,402 | €393,739 | €372,075 | €350,411 | ▼ 5.8% |
| Land and buildings22 | €415,107 | €397,785 | €380,462 | €363,140 | €345,817 | ▼ 4.8% |
| Other tangible fixed assets26 | €21,959 | €17,618 | €13,276 | €8,935 | €4,594 | ▼ 48.6% |
| Financial fixed assets28 | €787,500 | €787,500 | €787,500 | €801,960 | €801,960 | = |
| Current assets29/58 | €187,151 | €176,158 | €198,731 | €159,728 | €198,900 | ▲ 24.5% |
| Amounts receivable within one year40/41 | €33,802 | €1,389 | €4,291 | €28,800 | €33,897 | ▲ 17.7% |
| Other amounts receivable41 | €33,802 | €1,389 | €4,291 | €28,800 | €33,897 | ▲ 17.7% |
| Current investments50/53 | €68,305 | €97,024 | €109,886 | €117,093 | €113,478 | ▼ 3.1% |
| Cash at bank and in hand54/58 | €85,044 | €77,745 | €84,554 | €13,835 | €51,525 | ▲ 272% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.4m | €1.4m | €1.3m | €1.4m | ▲ 1.3% |
| Equity10/15 | €1.2m | €1.2m | €1.3m | €466,743 | €508,770 | ▲ 9.0% |
| Contributions10/11 | €897,750 | €897,750 | €913,062 | €30,000 | €30,000 | = |
| Capital10 | €897,750 | €897,750 | - | - | - | - |
| Issued capital100 | €897,750 | €897,750 | - | - | - | - |
| Outside capital11 | - | - | €913,062 | - | - | - |
| Other1109/19 | - | - | €913,062 | - | - | - |
| Reserves13 | €15,312 | €15,312 | - | - | - | - |
| Non-distributable reserves130/1 | €15,312 | €15,312 | - | - | - | - |
| Legal reserve130 | €15,312 | €15,312 | - | - | - | - |
| Profit (loss) carried forward14 | €331,517 | €335,948 | €376,611 | €436,743 | €478,770 | ▲ 9.6% |
| Amounts payable17/49 | €167,138 | €130,050 | €90,297 | €867,020 | €842,501 | ▼ 2.8% |
| Amounts payable after more than one year17 | €127,400 | €87,586 | €47,664 | €417,845 | €464,000 | ▲ 11.0% |
| Financial debts170/4 | €127,400 | €87,586 | €47,664 | €17,845 | - | - |
| Other amounts payable178/9 | - | - | - | €400,000 | €464,000 | ▲ 16.0% |
| Amounts payable within one year42/48 | €39,738 | €42,465 | €42,633 | €449,175 | €378,501 | ▼ 15.7% |
| Current portion of amounts payable after more than one year42 | €38,208 | €39,815 | €39,922 | €29,819 | €17,845 | ▼ 40.2% |
| Trade debts44 | - | - | - | €100 | - | - |
| Suppliers440/4 | - | - | - | €100 | - | - |
| Taxes, remuneration and social security45 | €1,500 | €2,620 | €2,681 | €2,406 | €9,877 | ▲ 310% |
| Taxes450/3 | €1,500 | €2,620 | €2,681 | €2,406 | €9,877 | ▲ 310% |
| Other amounts payable47/48 | €30 | €30 | €30 | €416,849 | €350,779 | ▼ 15.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,373 | €4,431 | €40,663 | €60,132 | €42,028 | ▼ 30.1% |
| + Depreciation and write-downs630 | €25,584 | €21,664 | €21,664 | €21,664 | €21,664 | = |
| Operating cash flow (approximation) | €70,957 | €26,095 | €62,326 | €81,796 | €63,691 | ▼ 22.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€14,460 | €0 | ▲ 100% |
| Change in cash | - | -€7,299 | €6,809 | -€70,719 | €37,690 | ▲ 153% |
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
08-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €500,000Eq €508,770 ▲9%
8 profitable years in a row build equity to €508,770.
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €60,132 ▲47.9%
Net result €60,132, the highest in the series.
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €4,431 ▼90.2%
Net result drops to €4,431, the lowest in the series; recovery starts the following year.
09-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Charleroi · 1 establishment unit since 2009
Ground area
754 m²
Building footprint
93 m²
Volume, LiDAR
1,043 m³
Parcel 52393B0072/00S003, Wallonia · tallest building 13.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Avenue Eugène Mascaux 91, 6001 Charleroi
since 20092.184.864.424
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52393B0072/00S003 | Wallonia | 754 m² | 1 · 93 m² | 13.6 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of ETC and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPrivate limited company
Founded23-12-2009
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.