Ethercentrum
ActiveSummary
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 has been growing by about 33% per year since 2013. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-10-2005 Normal situation
- Activity
- Engineering and related technical consultancy, excluding land surveyors NACE 71121and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
2017 figures too old to score
Annual accounts 2017
- Gross margin
- €230,363
- ▼ 38.3%
- Turnover
- ≈ €470,000
- estimated
- Surplus
- €13,870
- ▼ 17.1%
- Equity
- -€28,154
- ▲ 33.0%
- Total assets
- €128,689
- ▲ 1.9%
- Staff
- 3.9 FTE
- ▼ 38.1%
- Negative equity on 31-12-2017
- 2018 accounts not filed, 2651 days past the deadline
Filed on 12-04-2018
Signalsraises riskFigures for financial year 2017 (filed on 18-04-2018)lowers riskLegal form: non-profit associationSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Liquidity: current ratio 1.27, cash €45,971neutralNo filing for yearsLatest accounts filed on timeShow the evidence
Bankruptcy probability
No current score
Figures too old
The latest figures are for FY 2017. They are too old for a current score.
Filing: Five or more annual filings are missing. This points to a standstill, not an imminent failure.
Financial strength, FY 2017 · tick: 2016
Weak
Solvency
3+3
equity -21.9% of total assets
Liquidity
53+17
short-term debt 76.0% · cash 35.7%
Profitability
64-7
return on assets 10.8%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025highest value
03-2025: 0.1%● unchanged vs 02-2025highest value
04-2025: 0.1%● unchanged vs 03-2025highest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026lowest value
05-2026: 0.1%● unchanged vs 04-2026lowest value
06-2026: 0.1%● unchanged vs 05-2026lowest value
07-2026: 0.1%● unchanged vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
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Signals
Six signals.
lowers riskraises riskneutral
neutral · No filing for years
The last filed financial year closed on 31-12-2017. Since then, 8 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
31-12-2018 year end31-07-2019 deadline02-11-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2017 was due by 31-07-2018 and was filed on 12-04-2018, 110 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2017, abbreviated format
2018 annual accounts not yet filed, deadline passed on 31 July 2019 The financial year closed on 31 December 2018. The accounts are 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 2 November 2026.
Annual accounts 2017 filed on 12-04-2018 PDF all 10 filings
Turnover
≈ €470,000
Estimated: probably between €360,000 and €700,000
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
2013 to 2017, 5 financial years 2013 to 2017, 5 financial years
The operating result for 2017 is 17% lower than in 2016 and the lowest since 2013. It is the third fall in a row.
Operating result€15,441
2017
Net result€13,870
2017
Total assets€128,689
2017
Equity-€28,154
2017
Debt€156,843
2017
Working capital€26,757
2017
Staff (FTE)3.9
2017
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
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 are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2017 in colour, 2016 as the grey bar beneath
Assets €128,689
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
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
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Subsidies and aid
Flemish government
2022 to 2025 · 11 entries · €516,194 awarded · €505,905 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €128,388 | €127,818 |
| 2024 | 3 | €119,691 | €124,961 |
| 2023 | 3 | €97,332 | €117,988 |
| 2022 | 3 | €170,783 | €135,138 |
Schemes
Comparable companies
These companies have the same main activity as Ethercentrum: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €144,000 and €286,000, founded between 2000 and 2015.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| Ethercentrum Gent | 2005 | €128,689 | -€28,154 | €230,363 | €13,870 | 3.9 | 2017 |
| Terra Energy Geel | 2009 | €151,880 | €42,551 | €233,555 | €23,034 | 3 | 2025 |
| VEILICO Essen | 2002 | €201,046 | €10,455 | €206,955 | -€32,212 | 3.7 | 2025 |
| BURO T Nazareth-De Pinte | 2014 | €144,782 | -€17,538 | €307,140 | €97,972 | 2.9 | 2025 |
| AB-INFRA Gent | 2005 | €285,797 | €30,572 | €359,700 | €139,344 | 2.7 | 2025 |
| Studiebureau X-act Denderleeuw | 2015 | €203,332 | €19,386 | €223,418 | €786 | 2.3 | 2025 |
| Bouw Controles - Contrôles de Bâtiments Gent | 2000 | €144,427 | €92,158 | €141,187 | €52,119 | 1 | 2025 |
They were chosen from the 6,768 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Annual accounts
| 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 | ▲ 41× |
| 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 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 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 |
Timeline
Acts, filings and financial milestones
2018
12-04
abbreviated format · 110 days before the deadline
2017
11-07
abbreviated format · 20 days before the deadline
2016
24-05
abbreviated format · 68 days before the deadline
2015
20-04
abbreviated format · 102 days before the deadline
2014
31-12
Financial
Highest result from 2013 to 2017net €25,140 ▲104%
The operating result of €33,269 and the net result of €25,140 are both a record.
31-12
Financial
Liquidity more than doubledcurrent ratio 1.86
The current ratio rises from 0.72 to 1.86. Short-term debt falls from €179,874 to €116,780.
01-07
abbreviated format · 30 days before the deadline
2013
29-04
abbreviated format · 93 days before the deadline
2012
24-04
abbreviated format · 98 days before the deadline
2011
26-04
abbreviated format · 96 days before the deadline
2010
2005
16-11
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Ethercentrum in Dutch
Enterprise number
0877.091.618
Legal form
Non-profit association
Status
Active, normale toestand
Founded
04-10-2005
Entity type
Legal entity
Registered office and establishments
Registered office
Holstraat 21, 9000 Gent, Belgium
Activities
NACEBEL 202571121
Engineering and related technical consultancy, excluding land surveyors main activity
47789
Other retail sale of new goods
Codes under NACEBEL 2008
71121
Engineering activities main activity
47789
Retail trade
Invoicing and payment
VAT number
BE 0877.091.618
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
472 m²
Building footprint
227 m²
Building volume
2,454 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44815F1554/00M000 | Flanders | 472 m² | 1 · 227 m² | 15.5 m · 4 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.