Ethercentrum

Active

Non-profit associationfounded 2005active for 21 yearsHolstraat 21, 9000 Gent, BelgiumKBO/BCE: BE 0877.091.618

Summary

Ethercentrum has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2017 annual accounts show negative equity (-€28,154) and a net result of €13,870. Equity is growing by about 33% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.1% (very low).

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EthercentrumActive

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Financials · financial year 2017, abbreviated format

2018 annual accounts not yet filed, deadline passed on 31 July 2019 Financial year closed on 31 December 2018; filing due at the latest 7 months after the close (Companies Code art. 3:10). 8 financial years without a filing since the last one filed. Source: NBB filings, as of 24 October 2026.

Equity

-€28,154▲ 33.0%

2016 · -€42,024

Total assets

€128,689▲ 1.9%

2016 · €126,343

Net result

€13,870▼ 17.1%

2016 · €16,724

Working capital

€26,757▼ 6.3%

2016 · €28,557

Trend over the years

Last 5 years All years

2013 to 2017, 5 financial years 2013 to 2017, 5 financial years

The operating result has fallen three years in a row; 2017 is 17% below 2016 and is the lowest result in the available series.

Turnover and resultEquity and debtWorking capitalStaff

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€15,441 2017 Net result€13,870 2017

Every figure with its change against the financial year before

favourable unfavourable

Line20132014201520162017

Operating result€20,822-€33,269▲ 59.8%€23,816▼ 28.4%€18,698▼ 21.5%€15,441▼ 17.4%

Net result€12,332-€25,140▲ 104%€22,390▼ 10.9%€16,724▼ 25.3%€13,870▼ 17.1%

Equity-€106,278--€81,137▲ 23.7%-€58,747▲ 27.6%-€42,024▲ 28.5%-€28,154▲ 33.0%

Total assets€154,236-€220,999▲ 43.3%€200,207▼ 9.4%€126,343▼ 36.9%€128,689▲ 1.9%

Debt€260,513-€302,137▲ 16.0%€258,954▼ 14.3%€168,366▼ 35.0%€156,843▼ 6.8%

Working capital-€50,181-€100,301€88,698▼ 11.6%€28,557▼ 67.8%€26,757▼ 6.3%

Staff (FTE)5.2-5.1▼ 1.9%5.9▲ 15.7%6.3▲ 6.8%3.9▼ 38.1%

Turnover and EBIT margin not published: the abbreviated format does not require them.

Balance-sheet composition

2017 in colour, 2016 as the grey bar beneath

Assets €128,689

96.8%

Fixed assets €4,100 ▲ 73.2%

Current assets €124,589 ▲ 0.5%

Equity and liabilities

Equity-€28,154

Debt€156,843

Equity is negative: debt (€156,843) exceeds the balance-sheet total (€128,689).

Key figures and ratios

2017 value · change against 2016

EBITDA

€17,708▼

2016 · €22,782

Cash flow

€16,137▼

2016 · €20,808

Solvency

-21.9%▲

2016 · -33.3%

Current ratio

1.27▼

2016 · 1.30

ROA

10.8%▼

2016 · 13.2%

Debt ≤ 1 year

€97,833▲

2016 · €95,419

Debt > 1 year

€50,000=

2016 · €50,000

No debt to equity: equity is negative, so debt divided by equity means nothing.

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2017 against 2016 · 22 lines

Balance sheet Code20162017

Assets

Total assets20/58€126,343€128,689▲

Fixed assets21/28€2,367€4,100▲

Tangible fixed assets22/27€2,267-

Financial fixed assets28€100€4,100▲

Current assets29/58€123,976€124,589▲

Amounts receivable within one year40/41€93,012€70,241▼

Cash at bank and in hand54/58€27,453€45,971▲

Equity and liabilities

Total equity and liabilities10/49€126,343€128,689▲

Equity10/15-€42,024-€28,154▲

Profit (loss) carried forward14-€45,391-€31,521▲

Amounts payable17/49€168,366€156,843▼

Amounts payable after more than one year17€50,000€50,000=

Amounts payable within one year42/48€95,419€97,833▲

Trade debts44€15,369€59,715▲

Income statement Code20162017

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4,085€2,267▼

Gross operating margin9900€373,126€230,363▼

Operating profit (loss)9901€18,698€15,441▼

Recurring financial income75€29€6▼

Recurring financial charges65€2,003€1,577▼

Profit (loss) for the period before taxes9903€16,724€13,870▼

Profit (loss) for the period9904€16,724€13,870▼

Profit (loss) for the period to be appropriated9905€16,724€13,870▼

Line	2013	2014	2015	2016	2017	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€31,718	€24,402	€4,267	€4,085	€2,267	▼ 44.5%
Gross operating margin9900	€337,589	€336,904	€314,226	€373,126	€230,363	▼ 38.3%
Operating profit (loss)9901	€20,822	€33,269	€23,816	€18,698	€15,441	▼ 17.4%
Recurring financial income75	€356	€90	€41	€29	€6	▼ 79.9%
Recurring financial charges65	€8,847	€8,218	€1,467	€2,003	€1,577	▼ 21.3%
Profit (loss) for the period before taxes9903	€12,332	€25,140	€22,390	€16,724	€13,870	▼ 17.1%
Profit (loss) for the period9904	€12,332	€25,140	€22,390	€16,724	€13,870	▼ 17.1%
Profit (loss) for the period to be appropriated9905	€12,332	€25,140	€22,390	€16,724	€13,870	▼ 17.1%

Line	2013	2014	2015	2016	2017	Change
Assets
Total assets20/58	€154,236	€220,999	€200,207	€126,343	€128,689	▲ 1.9%
Fixed assets21/28	€24,543	€3,918	€6,451	€2,367	€4,100	▲ 73.2%
Tangible fixed assets22/27	€24,443	€3,818	€6,351	€2,267	-	-
Financial fixed assets28	€100	€100	€100	€100	€4,100	▲ 4,000%
Current assets29/58	€129,693	€217,081	€193,756	€123,976	€124,589	▲ 0.5%
Amounts receivable within one year40/41	€124,733	€143,612	€117,630	€93,012	€70,241	▼ 24.5%
Cash at bank and in hand54/58	€4,549	€72,438	€75,548	€27,453	€45,971	▲ 67.5%
Equity and liabilities
Total equity and liabilities10/49	€154,236	€220,999	€200,207	€126,343	€128,689	▲ 1.9%
Equity10/15	-€106,278	-€81,137	-€58,747	-€42,024	-€28,154	▲ 33.0%
Profit (loss) carried forward14	-€109,645	-€84,505	-€62,115	-€45,391	-€31,521	▲ 30.6%
Amounts payable17/49	€260,513	€302,137	€258,954	€168,366	€156,843	▼ 6.8%
Amounts payable after more than one year17	€31,249	€80,863	€50,000	€50,000	€50,000	=
Amounts payable within one year42/48	€179,874	€116,780	€105,058	€95,419	€97,833	▲ 2.5%
Trade debts44	€21,590	€14,991	€18,191	€15,369	€59,715	▲ 289%

Line	2013	2014	2015	2016	2017	Change
Profit (loss) for the period9904	€12,332	€25,140	€22,390	€16,724	€13,870	▼ 17.1%
+ Depreciation and write-downs630	€31,718	€24,402	€4,267	€4,085	€2,267	▼ 44.5%
Operating cash flow (approximation)	€44,050	€49,543	€26,658	€20,808	€16,137	▼ 22.4%
Investment in fixed assets (approximation)	-	-€3,778	-€6,800	€0	-€4,000	-
Change in cash	-	€67,889	€3,110	-€48,096	€18,518	-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Filings with the National Bank (10)

Financial year	Type	Filed	Reference
31-12-2017	abbreviated format	12-04-2018	2018-09700294
31-12-2016	abbreviated format	11-07-2017	2017-30900599
31-12-2015	abbreviated format	24-05-2016	2016-13400385
31-12-2014	abbreviated format	20-04-2015	2015-10000136
31-12-2013	abbreviated format	01-07-2014	2014-25300391
31-12-2012	abbreviated format	29-04-2013	2013-10400070
31-12-2011	abbreviated format	24-04-2012	2012-09300513
31-12-2010	abbreviated format	26-04-2011	2011-09400456
31-12-2009	abbreviated format	28-06-2010	2010-24300551
31-12-2008	abbreviated format	26-03-2010	2010-07600593

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