ETG
ActiveSummary
ETG has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €112k and a net result of €13k. Equity is growing by ~47.8% per year across the filed fiscal years. Its solvency ranks better than 85% of 3136 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-4
Solvency100▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 4.23 against 3.32 in 2024; short-term debt: 20.4% and cash: 68.3% of total assets), and 22.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer 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
77.5%
Return on assets
8.8%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
27 d late
2024
9 d early
2023
34 d early
2022
11 d early
2021
22 d early
2020
2 d early
2019
31 d late
← 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, micro schema
Equity
€112k▲ 12.8%
2024 · €100k
2018: €10klowest in 8 years
2019: €12k▲ +19.3% vs 2018
2020: €14k▲ +16.5% vs 2019
2021: €30k▲ +112% vs 2020
2022: €55k▲ +83.9% vs 2021
2023: €81k▲ +46.6% vs 2022
2024: €100k▲ +23.0% vs 2023
2025: €112k▲ +12.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€145k▼ 6.3%
2024 · €155k
2018: €46k
2019: €41k▼ -10.7% vs 2018
2020: €27k▼ -33.8% vs 2019lowest in 8 years
2021: €80k▲ +191% vs 2020
2022: €148k▲ +86.0% vs 2021
2023: €149k▲ +0.4% vs 2022
2024: €155k▲ +3.8% vs 2023highest in 8 years
2025: €145k▼ -6.3% vs 2024
2018 → 2025
Net result
€13k▼ 31.3%
2024 · €19k
2018: €567lowest in 8 years
2019: €2k▲ +246% vs 2018
2020: €2k▲ +2.1% vs 2019
2021: €16k▲ +691% vs 2020
2022: €25k▲ +58.8% vs 2021
2023: €26k▲ +2.1% vs 2022highest in 8 years
2024: €19k▼ -27.6% vs 2023
2025: €13k▼ -31.3% vs 2024
2018 → 2025
Working capital
€95k▲ 18.3%
2024 · €81k
2018: €3klowest in 8 years
2019: €9k▲ +206% vs 2018
2020: €15k▲ +69.7% vs 2019
2021: €22k▲ +51.4% vs 2020
2022: €37k▲ +62.6% vs 2021
2023: €62k▲ +70.5% vs 2022
2024: €81k▲ +29.4% vs 2023
2025: €95k▲ +18.3% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€30k-€55k▲ 83.9%€81k▲ 46.6%€100k▲ 23.0%€112k▲ 12.8%
2021: €30klowest in 5 years
2022: €55k▲ +83.9% vs 2021
2023: €81k▲ +46.6% vs 2022
2024: €100k▲ +23.0% vs 2023
2025: €112k▲ +12.8% vs 2024highest in 5 years
Operating result€23k-€35k▲ 52.5%€39k▲ 11.7%€30k▼ 23.9%€20k▼ 33.0%
2021: €23k
2022: €35k▲ +52.5% vs 2021
2023: €39k▲ +11.7% vs 2022highest in 5 years
2024: €30k▼ -23.9% vs 2023
2025: €20k▼ -33.0% vs 2024lowest in 5 years
Net result€16k-€25k▲ 58.8%€26k▲ 2.1%€19k▼ 27.6%€13k▼ 31.3%
2021: €16k
2022: €25k▲ +58.8% vs 2021
2023: €26k▲ +2.1% vs 2022highest in 5 years
2024: €19k▼ -27.6% vs 2023
2025: €13k▼ -31.3% vs 2024lowest in 5 years
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; 2025 is 33% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €145k
Fixed assets
€20k ▼ 49.1%
Current assets
€125k ▲ 8.3%
Equity and liabilities €145k
Equity
€112k ▲ 12.8%
Debt
€33k ▼ 40.8%
Debt's share of the balance-sheet total falls from 35.6% to 22.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39k▼
2024 · €49k
Cash flow
€32k▼
2024 · €38k
Current ratio
4.23▲
2024 · 3.32
Debt to equity
0.29▼
2024 · 0.55
ROE
11.4%▼
2024 · 18.7%
ROA
8.8%▼
2024 · 12.0%
Interest coverage
50.04▲
2024 · 47.09
Debt ≤ 1 year
€30k▼
2024 · €35k
Debt > 1 year
€3k▼
2024 · €20k
Income taxes
€8k▼
2024 · €10k
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 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€155k€145k▼
Fixed assets21/28€39k€20k▼
Tangible fixed assets22/27€39k€20k▼
Leasing and similar rights25€39k€20k▼
Current assets29/58€115k€125k▲
Amounts receivable within one year40/41€23k€26k▲
Trade receivables40€22k€26k▲
Other amounts receivable41€113€103▼
Cash at bank and in hand54/58€93k€99k▲
Equity and liabilities
Total equity and liabilities10/49€155k€145k▼
Equity10/15€100k€112k▲
Contributions10/11€6k€6k=
Reserves13€93k€106k▲
Tax-exempt reserves132€4k€4k=
Distributable reserves133€89k€102k▲
Amounts payable17/49€55k€33k▼
Amounts payable after more than one year17€20k€3k▼
Financial debts170/4€20k€3k▼
Amounts payable within one year42/48€35k€30k▼
Current portion of amounts payable after more than one year42€20k€17k▼
Financial debts43€2k-
Credit institutions430/8€2k-
Trade debts44€977€3k▲
Suppliers440/4€977€3k▲
Taxes, remuneration and social security45€12k€9k▼
Taxes450/3€12k€9k▼
Other amounts payable47/48-€588
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€19k=
Other operating charges640/8€3k€2k▼
Gross operating margin9900€52k€42k▼
Operating profit (loss)9901€30k€20k▼
Financial income75/76B€0€1k▲
Recurring financial income75€0€1k▲
Financial charges65/66B€1k€784▼
Recurring financial charges65€1k€784▼
Profit (loss) for the period before taxes9903€29k€20k▼
Income taxes67/77€10k€8k▼
Profit (loss) for the period9904€19k€13k▼
Profit (loss) for the period to be appropriated9905€19k€13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€19k€13k▼
Transfer to equity691/2€19k€13k▼
To other reserves6921€19k€13k▼
The notes to these accounts (6 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 | €10k | €18k | €0 | - | - | - |
| Remuneration, social security and pensions62 | €-16 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €16k | €19k | €19k | €19k | = |
| Other operating charges640/8 | €3k | €2k | €3k | €3k | €2k | ▼ 9.1% |
| Gross operating margin9900 | €29k | €53k | €61k | €52k | €42k | ▼ 19.5% |
| Operating profit (loss)9901 | €23k | €35k | €39k | €30k | €20k | ▼ 33.0% |
| Financial income75/76B | €2 | €0 | - | €0 | €1k | ▲ 13,270,100% |
| Recurring financial income75 | €2 | €0 | - | €0 | €1k | ▲ 13,270,100% |
| Financial charges65/66B | €420 | €1k | €1k | €1k | €784 | ▼ 24.7% |
| Recurring financial charges65 | €420 | €1k | €1k | €1k | €784 | ▼ 24.7% |
| Profit (loss) for the period before taxes9903 | €23k | €34k | €38k | €29k | €20k | ▼ 28.6% |
| Income taxes67/77 | €7k | €8k | €12k | €10k | €8k | ▼ 23.7% |
| Profit (loss) for the period9904 | €16k | €25k | €26k | €19k | €13k | ▼ 31.3% |
| Profit (loss) for the period to be appropriated9905 | €16k | €25k | €26k | €19k | €13k | ▼ 31.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €80k | €148k | €149k | €155k | €145k | ▼ 6.3% |
| Fixed assets21/28 | €35k | €78k | €59k | €39k | €20k | ▼ 49.1% |
| Tangible fixed assets22/27 | €35k | €78k | €59k | €39k | €20k | ▼ 49.1% |
| Furniture and vehicles24 | €0 | - | - | - | - | - |
| Leasing and similar rights25 | €35k | €78k | €59k | €39k | €20k | ▼ 49.1% |
| Current assets29/58 | €44k | €71k | €90k | €115k | €125k | ▲ 8.3% |
| Amounts receivable within one year40/41 | €15k | €2k | €3k | €23k | €26k | ▲ 15.2% |
| Trade receivables40 | €15k | €2k | €0 | €22k | €26k | ▲ 15.3% |
| Other amounts receivable41 | €0 | - | €3k | €113 | €103 | ▼ 8.6% |
| Cash at bank and in hand54/58 | €29k | €69k | €87k | €93k | €99k | ▲ 6.6% |
| Deferred charges and accrued income490/1 | €851 | €0 | €1k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €80k | €148k | €149k | €155k | €145k | ▼ 6.3% |
| Equity10/15 | €30k | €55k | €81k | €100k | €112k | ▲ 12.8% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €24k | €49k | €75k | €93k | €106k | ▲ 13.7% |
| Tax-exempt reserves132 | €4k | €4k | €4k | €4k | €4k | = |
| Distributable reserves133 | €20k | €45k | €70k | €89k | €102k | ▲ 14.4% |
| Amounts payable17/49 | €50k | €93k | €68k | €55k | €33k | ▼ 40.8% |
| Amounts payable after more than one year17 | €28k | €59k | €40k | €20k | €3k | ▼ 84.9% |
| Financial debts170/4 | €28k | €59k | €40k | €20k | €3k | ▼ 84.9% |
| Amounts payable within one year42/48 | €22k | €34k | €28k | €35k | €30k | ▼ 15.0% |
| Current portion of amounts payable after more than one year42 | €7k | €19k | €19k | €20k | €17k | ▼ 11.6% |
| Financial debts43 | - | - | - | €2k | - | - |
| Credit institutions430/8 | - | - | - | €2k | - | - |
| Trade debts44 | €3k | €3k | €2k | €977 | €3k | ▲ 197% |
| Suppliers440/4 | €3k | €3k | €2k | €977 | €3k | ▲ 197% |
| Taxes, remuneration and social security45 | €11k | €12k | €7k | €12k | €9k | ▼ 30.1% |
| Taxes450/3 | €11k | €12k | €7k | €12k | €9k | ▼ 30.1% |
| Other amounts payable47/48 | €299 | €92 | €192 | - | €588 | - |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €25k | €26k | €19k | €13k | ▼ 31.3% |
| + Depreciation and write-downs630 | €3k | €16k | €19k | €19k | €19k | = |
| Operating cash flow (approximation) | €19k | €41k | €45k | €38k | €32k | ▼ 15.4% |
| Investment in fixed assets (approximation) | - | €-59k | €0 | €0 | €0 | - |
| Change in cash | - | €40k | €18k | €6k | €6k | ▼ 0.3% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Equity above €100kEq €112k ▲12.8%
8 profitable years in a row build equity to €112k.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €26k ▲2.1%
Operating result €39k, net result €26k, both a record.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 55 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Oostrozebeke · 1 establishment unit since 2016
Ground area
8,015 m²
Building footprint
3,610 m²
Volume, LiDAR
19,161 m³
2 parcels, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Ten Hogen(DKL) 25, 9170 Sint-Gillis-Waas
since 20162.248.484.744
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37010B0213/00G003 | Flanders | 7,408 m² | 1 · 3,520 m² | 8.1 m · 2 fl. |
| 46005A0475/00X004 | Flanders | 607 m² | 1 · 89 m² | 9.6 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.
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Of 1,957 companies in sector 01430 we hold annual accounts for 743. 557 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
Founded23-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
01430Raising of horses and other equines
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.