Etheclo
Open bankruptcySummary
A bankruptcy procedure is open for Etheclo according to publications in the Belgian State Gazette. The 2024 annual accounts show equity of €81,667 and a net result of -€70,097.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Leuven
- Declared bankrupt
- 16 October 2025
- Supervising judge
- Willy Gils
- Official Gazette
- 22-10-2025 (pdf) ↗search the document for 2025/143048
Deadlines
- Provisional date payments stopped
- 16 October 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 6 November 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 15 November 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 25 November 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 16 October 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curators
- Dirk De MaeseneerEngels Plein 35, 3000 Leuvendirk.de.maeseneer@lovanius.be
- Sven De Maese- NeerEngels Plein 35, 3000 Leuvensven.de.maeseneer@lovanius.be
- Steven NystenEngels Plein 35, 3000 Leuvensteven.nysten@lovanius.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
192021222324
2019 to 2024 · latest year -€70,097
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
1 d early
2022
39 d early
2021
6 d early
2020
53 d early
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 19 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Service activities incidental to land transportation sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
Equity
€81,667▼ 46.2%
2023 · €151,764
Total assets
€142,586▼ 52.7%
2023 · €301,765
Net result
-€70,097▼ 97.2%
2023 · -€35,539
Working capital
€1,162▼ 99.0%
2023 · €114,262
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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
Line20202021202220232024
Operating result€10,711▲ 195%€21,533▲ 101%€14,900▼ 30.8%-€31,199-€65,719▼ 111%
Net result€6,900within the sector's middle half▼ 41.6%€10,753within the sector's middle half▲ 55.8%€7,087within the sector's middle half▼ 34.1%-€35,539below the sector's middle half-€70,097below the sector's middle half▼ 97.2%
Equity€69,467below the sector's middle half▲ 11.0%€180,215within the sector's middle half▲ 159%€187,302within the sector's middle half▲ 3.9%€151,764within the sector's middle half▼ 19.0%€81,667below the sector's middle half▼ 46.2%
Total assets€194,445below the sector's middle half▼ 2.4%€298,910below the sector's middle half▲ 53.7%€293,886below the sector's middle half▼ 1.7%€301,765below the sector's middle half▲ 2.7%€142,586below the sector's middle half▼ 52.7%
Debt€124,979▼ 8.6%€118,695▼ 5.0%€106,583▼ 10.2%€150,002▲ 40.7%€60,919▼ 59.4%
Working capital-€62within the sector's middle half€167,095within the sector's middle half€175,811within the sector's middle half▲ 5.2%€114,262within the sector's middle half▼ 35.0%€1,162within the sector's middle half▼ 99.0%
Solvency35.7%within the sector's middle half▲ 4.3pp60.3%above the sector's middle half▲ 24.6pp63.7%above the sector's middle half▲ 3.4pp50.3%within the sector's middle half▼ 13.4pp57.3%within the sector's middle half▲ 7.0pp
Current ratio1.00within the sector's middle half▼ 0.436.17above the sector's middle half▲ 5.175.58above the sector's middle half▼ 0.592.13within the sector's middle half▼ 3.461.04within the sector's middle half▼ 1.09
Return on assets (ROA)3.5%within the sector's middle half▼ 2.4pp3.6%within the sector's middle half=2.4%within the sector's middle half▼ 1.2pp-11.8%below the sector's middle half▼ 14.2pp-49.2%below the sector's middle half▼ 37.4pp
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €65,719 in 2024 against €31,199 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €142,586
Fixed assets
€108,318 ▲ 25.9%
Current assets
€34,268 ▼ 84.1%
Equity and liabilities €142,586
Equity
€81,667 ▼ 46.2%
Debt
€60,919 ▼ 59.4%
Debt's share of the balance-sheet total falls from 49.7% to 42.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€25,995▼
2023 · €5,180
Cash flow
-€30,373▼
2023 · €840
Quick ratio
0.64▼
2023 · 1.85
Debt to equity
0.75▼
2023 · 0.99
ROE
-85.8%▼
2023 · -23.4%
Interest coverage
-5.94▼
2023 · 1.19
Debt ≤ 1 year
€33,106▼
2023 · €101,493
Debt > 1 year
€27,813▼
2023 · €48,509
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,573 | €62,220 | €34,471 | €36,379 | €39,724 | ▲ 9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €1,140 | €469 | €516 | €528 | ▲ 2.3% |
| Gross operating margin9900 | €69,865 | €84,892 | €49,841 | €5,696 | -€25,468 | ▼ 547% |
| Operating profit (loss)9901 | €10,711 | €21,533 | €14,900 | -€31,199 | -€65,719 | ▼ 111% |
| Financial income75/76B | - | €3 | €1 | €2 | €1 | ▼ 43.9% |
| Recurring financial income75 | €0 | €3 | €1 | €2 | €1 | ▼ 43.9% |
| Financial charges65/66B | - | €6,884 | €5,190 | €4,341 | €4,379 | ▲ 0.9% |
| Recurring financial charges65 | €3,090 | €6,884 | €5,190 | €4,341 | €4,379 | ▲ 0.9% |
| Profit (loss) for the period before taxes9903 | €7,621 | €14,651 | €9,711 | -€35,539 | -€70,097 | ▼ 97.2% |
| Income taxes67/77 | €721 | €3,899 | €2,624 | €0 | - | - |
| Profit (loss) for the period9904 | €6,900 | €10,753 | €7,087 | -€35,539 | -€70,097 | ▼ 97.2% |
| Profit (loss) for the period to be appropriated9905 | €6,900 | €10,753 | €7,087 | -€35,539 | -€70,097 | ▼ 97.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €194,445 | €298,910 | €293,886 | €301,765 | €142,586 | ▼ 52.7% |
| Fixed assets21/28 | €105,151 | €99,482 | €79,711 | €86,011 | €108,318 | ▲ 25.9% |
| Intangible fixed assets21 | €94,602 | €95,462 | €74,443 | €81,996 | €104,605 | ▲ 27.6% |
| Tangible fixed assets22/27 | €10,549 | €3,606 | €1,555 | €302 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €3,606 | €1,555 | €302 | €0 | ▼ 100% |
| Financial fixed assets28 | - | €413 | €3,713 | €3,713 | €3,713 | = |
| Current assets29/58 | €89,294 | €199,428 | €214,175 | €215,755 | €34,268 | ▼ 84.1% |
| Stocks and contracts in progress3 | €25,027 | €26,166 | €15,290 | €28,028 | €12,964 | ▼ 53.7% |
| Stocks30/36 | - | €26,166 | €15,290 | €28,028 | €12,964 | ▼ 53.7% |
| Amounts receivable within one year40/41 | €14,163 | €16,483 | €34,452 | €117,026 | €20,383 | ▼ 82.6% |
| Trade receivables40 | - | €11,540 | €24,423 | €109,298 | €20,238 | ▼ 81.5% |
| Other amounts receivable41 | - | €4,943 | €10,029 | €7,729 | €145 | ▼ 98.1% |
| Cash at bank and in hand54/58 | €49,524 | €156,430 | €164,433 | €70,701 | €921 | ▼ 98.7% |
| Deferred charges and accrued income490/1 | - | €350 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €194,445 | €298,910 | €293,886 | €301,765 | €142,586 | ▼ 52.7% |
| Equity10/15 | €69,467 | €180,215 | €187,302 | €151,764 | €81,667 | ▼ 46.2% |
| Contributions10/11 | €48,600 | €148,596 | €148,596 | €148,596 | €148,596 | = |
| Reserves13 | €4,860 | €4,860 | €4,860 | €4,860 | €4,860 | = |
| Non-distributable reserves130/1 | - | €4,860 | €4,860 | €4,860 | €4,860 | = |
| Reserves not available under the articles1311 | - | €4,860 | €4,860 | €4,860 | €4,860 | = |
| Profit (loss) carried forward14 | €16,007 | €26,759 | €33,846 | -€1,692 | -€71,789 | ▼ 4,142% |
| Amounts payable17/49 | €124,979 | €118,695 | €106,583 | €150,002 | €60,919 | ▼ 59.4% |
| Amounts payable after more than one year17 | €35,623 | €86,362 | €68,220 | €48,509 | €27,813 | ▼ 42.7% |
| Financial debts170/4 | - | €84,980 | €67,738 | €48,027 | €27,331 | ▼ 43.1% |
| Other amounts payable178/9 | - | €1,382 | €482 | €482 | €482 | = |
| Amounts payable within one year42/48 | €89,356 | €32,333 | €38,364 | €101,493 | €33,106 | ▼ 67.4% |
| Current portion of amounts payable after more than one year42 | - | €15,020 | €18,772 | €19,711 | €29,026 | ▲ 47.3% |
| Financial debts43 | - | €68 | €0 | €73 | €2,038 | ▲ 2,696% |
| Credit institutions430/8 | - | €68 | €0 | €73 | €2,038 | ▲ 2,696% |
| Trade debts44 | €22,495 | €10,683 | €8,487 | €77,677 | €8 | ▼ 100.0% |
| Suppliers440/4 | - | €10,683 | €8,487 | €77,677 | €8 | ▼ 100.0% |
| Taxes, remuneration and social security45 | - | €3,899 | €9,844 | €2,606 | €773 | ▼ 70.3% |
| Taxes450/3 | - | €3,899 | €9,844 | €2,606 | €773 | ▼ 70.3% |
| Other amounts payable47/48 | - | €2,664 | €1,261 | €1,427 | €1,261 | ▼ 11.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,900 | €10,753 | €7,087 | -€35,539 | -€70,097 | ▼ 97.2% |
| + Depreciation and write-downs630 | €58,573 | €62,220 | €34,471 | €36,379 | €39,724 | ▲ 9.2% |
| Operating cash flow (approximation) | €65,473 | €72,973 | €41,558 | €840 | -€30,373 | ▼ 3,714% |
| Investment in fixed assets (approximation) | - | -€56,551 | -€14,700 | -€42,679 | -€62,031 | ▼ 45.3% |
| Change in cash | - | €106,905 | €8,004 | -€93,732 | -€69,780 | ▲ 25.6% |
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
22-10
Bankruptcy
Opening
Ondernemingsrechtbank Leuven · event 16-10-2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€70,097
Net result drops to -€70,097, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 6current ratio 6.17
Current ratio from 1.00 to 6.17; short-term debt falls from €89,356 to €32,333.
31-12
Financial
Equity above €150,000Eq €180,215 ▲159%
3 profitable years in a row build equity to €180,215.
2020
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
18-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 1 day late
SignalFinancial milestoneNBB 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, Bertem · 2 establishment units since 2015
Ground area
1,877 m²
Building footprint
281 m²
Volume, LiDAR
1,571 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Etheclo
since 20152.240.602.703
uitbatingszetel
since 20152.242.450.750
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46503C0832/00L000 | Flanders | 1,041 m² | 1 · 170 m² | 7.5 m · 2 fl. |
| 24061B0274/00R000 | Flanders | 836 m² | 1 · 111 m² | 9.7 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.
Insolvency mandates
3 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | DIRK DE MAESENEER ENGELS PLEIN 35,
3000 LEUVEN |
16-10-2025 → present |
| Curator | SVEN DE MAESE-
NEER ENGELS PLEIN 35, 3000 LEUVEN- |
16-10-2025 → present |
| Curator | STEVEN NYSTEN ENGELS
PLEIN 35, 3000 LEUVEN |
16-10-2025 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 82,500 EUR awarded · 82,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | -21,750 EUR | 0 EUR |
| 2024 | 1 | 0 EUR | 39,000 EUR |
| 2023 | 2 | 4,500 EUR | 43,500 EUR |
| 2022 | 1 | 99,750 EUR | 0 EUR |
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Of 1,725 companies in sector 52210 we hold annual accounts for 774. 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
Founded03-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
52210Service activities incidental to land transportation
Contact
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.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.