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ETHIKA

Active Private limited company (pre-2019)founded 2008active for 18 yearsVinkenlaan 12, 1950 KraainemKBO/BCE: BE 0807.153.232
ETHIKA
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Overview

Lifetime

17 annual accounts with figures on one time axis
peak €55,710 (2015)
€9,830▼ 47.4%
lowest -€39,084 (2016)
-€3,908▼ €11,252
peak €94,222 (2015)
€59,921▼ 6.1%
€98,794▲ 5.9%
Board2 names since 2017
1 director
Documentsfilings and deeds
08-07-202623 days before the deadline
2025abbreviated format
Gross margin from €18,696 to €9,830Loss of €3,908Cash from €17,046 to €28,129

Key points

from the 2025 annual accounts

Turnover

≈ €100,000 estimated

The accounts state no turnover.

Filings

17 annual accounts since 2009
AprilJune31 JulyOctober2010201520202025

Two of the last ten came late. The 2021 accounts came latest: 47 days after the end of the period.

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 6,908 companies had the same profile as ETHIKA has now. Each dot stands for 18 companies, two years later.

90.9%
were still trading
7.8%
stopped another way
1.1%
went bankrupt
  • Micro
  • 10 to 20 years old
  • solvency 30% or more
  • a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

Test of the method

The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 6,908 companies, not a prediction for ETHIKA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0807153232
Resignation: (director) General meeting of 01-10-2020 · Gazette deed
Appointment: (manager) General meeting of 30-01-2018 · Gazette deed
Resignation: (director) General meeting of 30-05-2017 · Gazette deed
All 29 events

Comparable companies

same main activity, similar in size and age
Company
ETHIKA Kraainem €158,715 €9,830 37.8% -
Inhérence Sint-Niklaas €110,078 €7,966 -0.5% -
Schoenen Gigi Lebbeke €215,870 €7,553 45.3% -
Bybo-Lino Hasselt €114,606 €15,871 48.7% -
BALOU SCHOENEN Herentals €210,563 €6,526 79.2% -
EG-SERVICES Koksijde €253,549 €12,019 1.9% -
HAY TRADE Jette €122,716 €10,253 -15.2% -

These companies have the same main activity as ETHIKA: retail sale of footwear (NACE 47721). They are comparable in size and age: total assets between €110,000 and €254,000, founded between 1999 and 2012.

Official details

Source: KBO
Status
Active since 16-10-2008Normal situation
Activity
Retail sale of footwearNACE 47721and 3 others
Establishment unit
2.173.831.6631000 Brussels, since 22-10-2008
Financial year end
31 December
Peppol
Reachable since 03-10-2025
Company details

Annual accounts 2025

€9,830▼ 47.4%
€3,908
€59,921▼ 6.1%
€158,715▲ 1.0%
Filing
Filed on 08-07-2026, 23 days before the end of the filing period
Financials

Insights on ETHIKA

ETHIKA files the abbreviated format. That format states no turnover. The gross margin fell from €12,823 in 2009 to €9,830 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 08-07-2026, 23 days before the deadline
€9,830
▼ 47.4%
-€2,416
▼ €11,157
-€3,908
▼ €11,252
€50,128
▲ 6.6%
37.8%
▼ 2.9 percentage points
1.71
▼ 0.04

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €100,000. Estimated: probably between €52,000 and €250,000.

Balance sheet

balance sheet total €158,715 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

37.8%

Higher than 51% of 12,862 companies in 2025.

1.71

Higher than 56% of 12,652 companies in 2025.

-2.5%

Higher than 18% of 12,725 companies in 2025.

ETHIKA Middle half of the sector 80% of the sector Abbreviated accounts in retail trade (NACE 47)

Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
Balance sheet: assets
20/58 158,715157,14878,88570,71487,93172,71573,740105,46568,27076,225117,96276,32451,31373,25887,36383,61875,433
21/28 37,79546,9793,8555,9988,5485,8404,1349,62714,34621,54330,7364,9883,136-4131,7861,919
22/27 36,89946,0833,1595,3027,8535,1443,4389,44614,16521,36130,5544,8063,136-4131,7861,919
23 --------------4131,7861,919
24 36,89946,0833,1595,3027,8535,1443,4382,9641,2001,9144,6254,8063,136----
28 896896696696696696696182182182182182-----
29/58 120,920110,17075,03064,71679,38366,87569,60595,83853,92454,68287,22671,33648,17773,25886,95081,83273,514
3 61,09651,09453,84048,84546,85135,51628,02227,45327,52326,57929,24927,49133,34063,17574,57168,20462,167
30/36 61,09651,09453,84048,84546,85135,51628,02227,45327,52326,57929,24927,49133,34063,17574,57168,20462,167
40/41 31,63242,03011,6324,33217,86320,91731,50543,02321,51217,35537,45716,90610,890--292-
40 31,63242,0304,400-9,383-2,13317,84816,6841,11119,48016,90610,890----
41 --7,2324,3328,48020,91729,37225,1754,82816,24417,977----292-
50/53 -------------6,6326,4936,4936,416
54/58 28,12917,0469,42211,53914,66910,44210,07925,3084,89010,42720,26926,7123,9473,4515,8866,8434,143
490/1 63-136----55-321251228----788
Balance sheet: equity and liabilities
10/49 158,715157,14878,88570,71487,93172,71573,740105,46568,27076,225117,96276,32451,31373,25887,36383,61875,433
10/15 59,92163,82956,48655,70066,86945,50153,45082,59444,62955,13994,22261,46435,93738,34649,91247,62642,612
10/11 36,49436,49436,49436,49436,49436,49436,49436,49436,00036,00036,00036,00036,00036,00036,00036,00036,000
10 36,49436,49436,49436,49436,494------------
100 36,49436,49436,49436,49436,49436,49436,49436,49436,00036,00036,00036,00036,00036,00036,00036,00036,000
13 3,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,600
130/1 3,6003,6003,6003,6003,6003,600-----------
130 3,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,6003,600
14 19,82823,73616,39215,60626,7765,40713,35642,5015,02915,53954,62221,864-3,663-1,25410,3128,0263,012
17/49 98,79493,31922,39915,01421,06227,21420,29022,87123,64121,08623,74014,86015,37734,91237,45135,99232,821
17 28,00130,176-------4,63913,847--17,86821,08924,000-
170/4 ---------4,63913,847------
178/9 28,00130,176-----------17,86821,08924,000-
42/48 70,79263,14322,39915,01421,06227,21420,29022,87123,64115,1229,89214,86015,37716,78716,3628,88632,821
42 --------4,6399,2099,118------
43 2,651------------2,068---
430/8 2,651------------2,068---
44 55,61554,78916,9328,84913,23721,48418,82322,13213,7033,3977517,42421710,20912,1462,180463
440/4 55,61554,78916,9328,84913,23721,48418,82322,13213,7033,3977517,42421710,20912,1462,180463
46 ------------547----
45 12,5278,3545,4676,1647,8255,7301,4677395,3002,51623951554,5104,2165,1104,545
450/3 12,5278,3545,4675,5647,2253,9302675644,7002,51623951554,5104,2165,1104,545
454/9 ---6006001,8001,200175600--------
47/48 -----------6,48514,558--1,59627,813
492/3 ---------1,326---257-3,106-
Income statement
9900 9,83018,6965,815-5,51521,930-7,130-18,22748,3972,833-26,73355,71044,561932-9,8477,3018,17212,823
630 12,0028,6612,1432,5513,1241,5887,5146,9618,0939,19310,4452,7441,3234131,3731,3732,060
631/4 -----2,133--------2,310--
640/8 2441,2942,2761,9236746032,9821,9702,5459121,8103537518943710789
9901 -2,4168,7411,396-9,98918,132-11,454-28,72239,466-7,805-36,83743,45541,464-1,142-10,3493,1816,69210,674
75/76B 304069-4,5034,0003924839111229110687169
75 304069-4,503-3924839111229110687169
76B -----4,000-----------
65/66B 1,3621,2926795266874944611,9961,3441,0171,5235,1581,2771,250636671774
65 1,3621,2926795266874944611,9961,3441,0171,5235,1581,2771,250636671774
9903 -3,7487,489786-10,51521,948-7,949-29,14437,472-9,145-37,84641,97136,317-2,407-11,3082,5556,70810,069
67/77 160146-655580-1-1,3651,2389,21210,79032582691,6943,457
9904 -3,9087,344786-11,16921,368-7,949-29,14537,472-10,510-39,08432,75825,527-2,409-11,5662,2865,0146,612
9905 -3,9087,344786-11,16921,368-7,949-29,14537,472-10,510-39,08432,75825,527-2,409-11,5662,2865,0146,612
Appropriation of the result
9906 19,82823,73616,39215,60626,7765,40713,35642,5015,02915,53954,62221,864-3,663-1,25410,3128,0266,612
14P 23,73616,39215,60626,7765,407------------
691/2 ----------------3,600
6920 ----------------3,600
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 08-07-2026 2026-00275834 PDF
31-12-2024 micro format 04-07-2025 2025-00239727 PDF
31-12-2023 micro format 20-06-2024 2024-00149350 PDF
31-12-2022 micro format 31-05-2023 2023-00102310 PDF
31-12-2021 micro format 16-09-2022 2022-20431960 PDF
31-12-2020 micro format 06-07-2021 2021-32000087 PDF
31-12-2019 micro format 04-09-2020 2020-50900506 PDF
31-12-2018 micro format 19-07-2019 2019-34900101 PDF
31-12-2017 micro format 19-06-2018 2018-20600144 PDF
31-12-2016 micro format 06-07-2017 2017-28300289 PDF
31-12-2015 full format 13-06-2016 2016-17300159 PDF
31-12-2014 full format 19-06-2015 2015-19200470 PDF
31-12-2013 full format 04-08-2014 2014-39400490 PDF
31-12-2012 full format 27-08-2013 2013-53100437 PDF
31-12-2011 full format 28-09-2012 2012-59700598 PDF
31-12-2010 full format 30-01-2012 2012-02300198 PDF
31-12-2009 full format 30-09-2010 2010-57100327 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
9,58517,4023,539-7,43821,256-9,866-21,20946,427288-27,64453,90044,208181-9,9364,5548,06512,734
8,09416,0052,929-8,61924,492-6,360-21,63144,433-2,417-29,89143,20428,271-1,087-11,1533,6596,3878,672
2,81751,785005,8333,2942,0202,242896036,1934,5964,459001,2402,879
11,0837,623-2,116-3,1304,226363-15,22920,418-5,537-9,843-6,44222,765496-2,435-9572,700-
50,12847,02752,63149,70258,32139,66149,31572,96730,28339,56077,33456,47632,80056,47170,58872,94640,693
37.8%40.6%71.6%78.8%76.0%62.6%72.5%78.3%65.4%72.3%79.9%80.5%70.0%52.3%57.1%57.0%56.5%
1.711.743.354.313.772.463.434.192.283.628.824.803.134.365.319.212.24
0.850.940.951.061.541.152.052.991.121.865.862.950.960.600.761.530.35
1.651.460.400.270.310.600.380.280.530.380.250.240.430.910.750.760.77
-6.5%11.5%1.4%-20.1%32.0%-17.5%-54.5%45.4%-23.5%-70.9%34.8%41.5%-6.7%-30.2%4.6%10.5%15.5%
-2.5%4.7%1.0%-15.8%24.3%-10.9%-39.5%35.5%-15.4%-51.3%27.8%33.4%-4.7%-15.8%2.6%6.0%8.8%
7.0413.475.21-14.1530.96------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€2,817€51,585--€5,833
Financial fixed assets-€200---
€12,002€8,661€2,143€2,551€3,124

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on ETHIKA

The operating result for 2025 is a loss of €2,416, after a profit of €8,741 in 2024. It is the lowest result since 2022.

Debt's share of the balance-sheet total rises from 59.4% to 62.2%. Equity is lower and debt is higher.

Board & ownership

Board

1 director, last change in 2020
Director
listed in the 2025 annual accounts, filed on 08-07-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Director

Director
BoardEarliermandate already running before its first mentionend not dated
Mandates as a list
    • Director, since before 31-12-2021
    • Director, until 19-06-2017
    • Manager, appointed by deed of 13-02-2018, ended, last mentioned on 13-02-2018
    • Director, until 01-10-2020

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Capital
€36,493.70
Source
2025 annual accounts

Network & group

No group

ETHIKA has no parent and no holdings in its annual accounts. is the only director. ETHIKA shares no director with another company.

Timeline

Timeline

29 events since 2008

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBabbreviated format · 23 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0807153232
Annual accounts 2024 filed PDFmicro format · 27 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 41 days before the deadline
2023
Back to profit net €786 The net result is €786, after one loss-making year.
Annual accounts 2022 filed PDFmicro format · 61 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 47 days late
2021
Back to profit net €21,368 The net result is €21,368, after 2 loss-making years.
Resignation: (director)General meeting of 01-10-20202 points ▸
  • General meeting, 01-10-2020
  • Director resignation,
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFmicro format · 25 days before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 35 days late
2019
Annual accounts 2018 filed PDFmicro format · 12 days before the deadline
2018
Back to profit net €37,472 The net result is €37,472, after 2 loss-making years.
Annual accounts 2017 filed PDFmicro format · 42 days before the deadline
Appointment: (manager)General meeting of 30-01-20182 points ▸
  • General meeting, 30-01-2018
  • Director appointment, (manager)

Open the deed in the Belgian Official Gazette

2017
Annual accounts 2016 filed PDFmicro format · 25 days before the deadline
Resignation: (director)General meeting of 30-05-20172 points ▸
  • General meeting, 30-05-2017
  • Director resignation,

Open the deed in the Belgian Official Gazette

2016
Weakest financial year net -€39,084 The net result drops to -€39,084, the lowest from 2009 to 2025. It recovers the following year.
Annual accounts 2015 filed PDFfull format · 48 days before the deadline
2015
Annual accounts 2014 filed PDFfull format · 42 days before the deadline
2014
Back to profit net €25,527 The net result is €25,527, after 2 loss-making years.
Annual accounts 2013 filed PDFfull format · 4 days late
2013
Annual accounts 2012 filed PDFfull format · 27 days late
2012
Annual accounts 2011 filed PDFfull format · 59 days late
Annual accounts 2010 filed PDFfull format · 183 days late
2010
Liquidity more than quadruples current ratio 9.21 The current ratio rises from 2.24 to 9.21. Short-term debt falls from €32,821 to €8,886.
Annual accounts 2009 filed PDFfull format · 61 days late
2008
First establishment Spoormakersstraat 63, Brussels
Incorporation PDFpublished on 24-10-2008

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

ETHIKA was incorporated on 16 October 2008.1 Total assets rose from €105,465 in 2018 to €158,715 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0807.153.232
VAT number
BE 0807.153.232
Peppol ID
0208:0807153232
Other Peppol ID
9925:BE0807153232
Legal form
Private limited company (pre-2019)
Status
Active, normal situation
Founded
16-10-2008
Financial year
ends on 31 December
Peppol
Reachable since 03-10-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
ETHIKA in French
Entity type
Legal entity

Activities

NACEBEL 2025
47721 Retail sale of footwear main activity
46190 Agents in non-specialised wholesale trade
47715 Retail trade
47716 Retail sale of clothing and accessories for women, men, children and babies (general range)
Codes under NACEBEL 2008
47721 Retail trade main activity
46190 Wholesale trade
47715 Retail trade
47716 Retail trade

Registered office and establishments

1 establishment
Establishment Since Unit number
Vinkenlaan 12 registered office 1950 Kraainem
Spoormakersstraat 63 1000 Brussels 22-10-2008 2.173.831.663

Buildings and parcels at the addresses

Ground area
262 m²
Buildings
127 m²
Volume, LiDAR
1,075 m³
Tallest building
13.9 m
Buildings to scale, each on its own parcel
71 m², 8.8 m 57 m², 13.9 m 71 m², 8.8 m 57 m², 13.9 m

Location

registered office establishment The establishment unit on the map

Parcels

Flanders 1 (50%) Brussels 1 (50%)
Cadastral parcelRegionArea Buildings Height / floors
22002A0323/00D002Flanders175 m² 1 · 71 m² 8.8 m · 2
21004A1166/00B000
ProtectedArchitectural ensembleGeheel van traditonele huizen en voormalige hertog van SavoyegangSource ↗
Brussels87 m² 1 · 57 m² 13.9 m · 4

1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.

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