ETHEBA
ActiveSummary
ETHEBA has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €120,190 and a net result of €22,215. Equity is growing by ~32.9% per year across the filed fiscal years. Its solvency ranks better than 44% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-3
Solvency74▲+8
Growth52=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.07 in 2024; short-term debt: 30.7% and cash: 2.4% of total assets), and 51.5% 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 · 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 →
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
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
48.5%
Return on assets
9%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
26 d early
2024
on the day
2023
5 d early
2022
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 8 days 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€22,215▼ 18.7%
2024 · €27,320
Working capital
-€50,750▲ 18.8%
2024 · -€62,518
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
Line2022202320242025
Operating result€50,696-€49,845▼ 1.7%€42,736▼ 14.3%€38,031▼ 11.0%
Net result€35,374within the sector's middle half-€35,081within the sector's middle half▼ 0.8%€27,320within the sector's middle half▼ 22.1%€22,215within the sector's middle half▼ 18.7%
Equity€35,574below the sector's middle half-€70,655below the sector's middle half▲ 98.6%€97,975within the sector's middle half▲ 38.7%€120,190within the sector's middle half▲ 22.7%
Total assets€198,565below the sector's middle half-€248,445below the sector's middle half▲ 25.1%€236,464within the sector's middle half▼ 4.8%€247,783within the sector's middle half▲ 4.8%
Debt€162,991-€177,790▲ 9.1%€138,489▼ 22.1%€127,593▼ 7.9%
Working capital-€1,819within the sector's middle half-€12,544within the sector's middle half-€62,518below the sector's middle half-€50,750below the sector's middle half▲ 18.8%
Solvency17.9%below the sector's middle half-28.4%within the sector's middle half▲ 10.5pp41.4%within the sector's middle half▲ 13.0pp48.5%within the sector's middle half▲ 7.1pp
Current ratio0.96within the sector's middle half-1.15within the sector's middle half▲ 0.180.07below the sector's middle half▼ 1.080.33below the sector's middle half▲ 0.26
Return on assets (ROA)17.8%above the sector's middle half-14.1%above the sector's middle half▼ 3.7pp11.6%within the sector's middle half▼ 2.6pp9.0%within the sector's middle half▼ 2.6pp
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.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 11% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €247,783
Fixed assets
€222,459 ▼ 4.0%
Current assets
€25,325 ▲ 439%
Equity and liabilities €247,783
Equity
€120,190 ▲ 22.7%
Debt
€127,593 ▼ 7.9%
Debt's share of the balance-sheet total falls from 58.6% to 51.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,342▼
2024 · €47,859
Cash flow
€31,526▼
2024 · €32,444
Debt to equity
1.06▼
2024 · 1.41
ROE
18.5%▼
2024 · 27.9%
Interest coverage
32.54▲
2024 · 23.59
Debt ≤ 1 year
€76,075▲
2024 · €67,213
Debt > 1 year
€49,653▼
2024 · €71,276
Income taxes
€14,361▲
2024 · €13,386
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €371 | €5,124 | €9,311 | ▲ 81.7% |
| Other operating charges640/8 | €348 | €348 | €384 | €387 | ▲ 0.8% |
| Gross operating margin9900 | €51,044 | €50,564 | €48,244 | €47,730 | ▼ 1.1% |
| Operating profit (loss)9901 | €50,696 | €49,845 | €42,736 | €38,031 | ▼ 11.0% |
| Financial income75/76B | - | €774 | - | - | - |
| Recurring financial income75 | - | €774 | - | - | - |
| Non-recurring financial income76B | - | €774 | - | - | - |
| Financial charges65/66B | €1,863 | €1,805 | €2,029 | €1,455 | ▼ 28.3% |
| Recurring financial charges65 | €1,863 | €1,805 | €2,029 | €1,455 | ▼ 28.3% |
| Profit (loss) for the period before taxes9903 | €48,834 | €48,814 | €40,707 | €36,576 | ▼ 10.1% |
| Income taxes67/77 | €13,460 | €13,733 | €13,386 | €14,361 | ▲ 7.3% |
| Profit (loss) for the period9904 | €35,374 | €35,081 | €27,320 | €22,215 | ▼ 18.7% |
| Profit (loss) for the period to be appropriated9905 | €35,374 | €35,081 | €27,320 | €22,215 | ▼ 18.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €198,565 | €248,445 | €236,464 | €247,783 | ▲ 4.8% |
| Fixed assets21/28 | €151,113 | €150,742 | €231,770 | €222,459 | ▼ 4.0% |
| Tangible fixed assets22/27 | €1,113 | €742 | €81,770 | €72,459 | ▼ 11.4% |
| Land and buildings22 | - | - | €78,756 | €70,466 | ▼ 10.5% |
| Furniture and vehicles24 | €1,113 | €742 | €3,014 | €1,993 | ▼ 33.9% |
| Financial fixed assets28 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Current assets29/58 | €47,452 | €97,703 | €4,694 | €25,325 | ▲ 439% |
| Amounts receivable within one year40/41 | €31,682 | €82,900 | - | €19,360 | - |
| Trade receivables40 | €31,682 | €82,900 | - | €19,360 | - |
| Cash at bank and in hand54/58 | €15,770 | €13,377 | €4,694 | €5,965 | ▲ 27.1% |
| Deferred charges and accrued income490/1 | - | €1,425 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €198,565 | €248,445 | €236,464 | €247,783 | ▲ 4.8% |
| Equity10/15 | €35,574 | €70,655 | €97,975 | €120,190 | ▲ 22.7% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €34,574 | €69,655 | €96,975 | €119,190 | ▲ 22.9% |
| Distributable reserves133 | €34,574 | €69,655 | €96,975 | €119,190 | ▲ 22.9% |
| Amounts payable17/49 | €162,991 | €177,790 | €138,489 | €127,593 | ▼ 7.9% |
| Amounts payable after more than one year17 | €113,721 | €92,631 | €71,276 | €49,653 | ▼ 30.3% |
| Financial debts170/4 | €113,721 | €92,631 | €71,276 | €49,653 | ▼ 30.3% |
| Amounts payable within one year42/48 | €49,270 | €85,159 | €67,213 | €76,075 | ▲ 13.2% |
| Current portion of amounts payable after more than one year42 | €20,828 | €21,090 | €21,355 | €21,624 | ▲ 1.3% |
| Trade debts44 | €2,974 | €3,189 | €1,346 | €7,910 | ▲ 488% |
| Suppliers440/4 | €2,974 | €3,189 | €1,346 | €7,910 | ▲ 488% |
| Taxes, remuneration and social security45 | €19,953 | €22,379 | €8,436 | €8,615 | ▲ 2.1% |
| Taxes450/3 | €19,953 | €22,379 | €8,436 | €8,615 | ▲ 2.1% |
| Other amounts payable47/48 | €5,515 | €38,501 | €36,076 | €37,926 | ▲ 5.1% |
| Accrued charges and deferred income492/3 | - | - | - | €1,866 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,374 | €35,081 | €27,320 | €22,215 | ▼ 18.7% |
| + Depreciation and write-downs630 | - | €371 | €5,124 | €9,311 | ▲ 81.7% |
| Operating cash flow (approximation) | €35,374 | €35,452 | €32,444 | €31,526 | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | €0 | -€86,151 | €0 | ▲ 100% |
| Change in cash | - | -€2,393 | -€8,683 | €1,271 | ▲ 115% |
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
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €22,215 ▼18.7%
Net result drops to €22,215, the lowest in the series.
30-06
Financial
Equity above €100,000Eq €120,190 ▲22.7%
4 profitable years in a row build equity to €120,190.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
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, Beaumont · 1 establishment unit since 2021
Ground area
1.2 ha
Building footprint
273 m²
Volume, LiDAR
2,169 m³
Parcel 56073A0110/00K000, Wallonia · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ETHEBA
since 20212.318.738.181
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56073A0110/00K000 | Wallonia | 1.2 ha | 1 · 272 m² | 10.1 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,873 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
Founded24-06-2021
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0770301645
Registered
07-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.