ETHITEC
ActiveSummary
The computed 12-month bankruptcy probability of ETHITEC is 2.5% (moderate). For ETHITEC, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €10k and a net result of €-19k. Equity is shrinking by ~22.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 15% of 33673 sector peers (fiscal year 2023). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability30▼-49
Solvency36▼-12
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
11%
Return on assets
-19.7%
Age of the figures
36 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline25-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 15-04-2024, 15 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
15 d early
2022
27 d early
2021
24 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€10k▼ 64.3%
2022 · €29k
2021: €19k
2022: €29k▲ +55.8% vs 2021highest in 3 years
2023: €10k▼ -64.3% vs 2022lowest in 3 years
2021 → 2023
Total assets
€95k▼ 24.8%
2022 · €126k
2021: €69klowest in 3 years
2022: €126k▲ +82.8% vs 2021highest in 3 years
2023: €95k▼ -24.8% vs 2022
2021 → 2023
Net result
€-19k
2022 · €10k
2021: €12khighest in 3 years
2022: €10k▼ -14.0% vs 2021
2023: €-19k▼ -279% vs 2022lowest in 3 years
2021 → 2023
Working capital
€-24k▼ 51.4%
2022 · €-16k
2021: €-22k
2022: €-16k▲ +28.5% vs 2021highest in 3 years
2023: €-24k▼ -51.4% vs 2022lowest in 3 years
2021 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Equity€19k-€29k▲ 55.8%€10k▼ 64.3%
2021: €19k
2022: €29k▲ +55.8% vs 2021highest in 3 years
2023: €10k▼ -64.3% vs 2022lowest in 3 years
Operating result€18k-€18k▼ 1.5%€-16k
2021: €18khighest in 3 years
2022: €18k▼ -1.5% vs 2021
2023: €-16k▼ -188% vs 2022lowest in 3 years
Net result€12k-€10k▼ 14.0%€-19k
2021: €12khighest in 3 years
2022: €10k▼ -14.0% vs 2021
2023: €-19k▼ -279% vs 2022lowest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €16k after €18k in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €95k
Fixed assets
€34k ▼ 28.0%
Current assets
€61k ▼ 22.9%
Equity and liabilities €95k
Equity
€10k ▼ 64.3%
Debt
€84k ▼ 13.0%
Debt's share of the balance-sheet total rises from 76.9% to 89.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10k▼
2022 · €42k
Cash flow
€7k▼
2022 · €35k
Current ratio
0.72▼
2022 · 0.83
Quick ratio
0.70▼
2022 · 0.82
Debt to equity
8.12▲
2022 · 3.33
ROE
-180.0%▼
2022 · 35.8%
ROA
-19.7%▼
2022 · 8.3%
Interest coverage
3.57▼
2022 · 11.05
Debt ≤ 1 year
€84k▼
2022 · €94k
Income taxes
€126▼
2022 · €4k
Staff costs
€212k▼
2022 · €266k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2023 against 2022 · 47 lines
Balance sheet
Code20222023
Assets
Total assets20/58€126k€95k▼
Fixed assets21/28€48k€34k▼
Intangible fixed assets21€14k€5k▼
Tangible fixed assets22/27€34k€29k▼
Plant, machinery and equipment23€2k€4k▲
Furniture and vehicles24€32k€25k▼
Current assets29/58€79k€61k▼
Stocks and contracts in progress3€1k€1k=
Stocks30/36€1k€1k=
Amounts receivable within one year40/41€66k€23k▼
Trade receivables40€61k€22k▼
Other amounts receivable41€4k€660▼
Cash at bank and in hand54/58€6k€34k▲
Deferred charges and accrued income490/1€6k€2k▼
Equity and liabilities
Total equity and liabilities10/49€126k€95k▼
Equity10/15€29k€10k▼
Contributions10/11€1k€1k=
Profit (loss) carried forward14€28k€9k▼
Amounts payable17/49€97k€84k▼
Amounts payable after more than one year17€3k-
Financial debts170/4€3k-
Amounts payable within one year42/48€94k€84k▼
Current portion of amounts payable after more than one year42€6k€3k▼
Trade debts44€19k€23k▲
Suppliers440/4€19k€23k▲
Taxes, remuneration and social security45€63k€51k▼
Taxes450/3€37k€30k▼
Remuneration and social security454/9€26k€21k▼
Other amounts payable47/48€7k€7k▲
Income statement
Code20222023
Non-recurring operating income76A-€791
Remuneration, social security and pensions62€266k€212k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€26k▲
Other operating charges640/8€4k€12k▲
Non-recurring operating charges66A€115-
Gross operating margin9900€312k€235k▼
Operating profit (loss)9901€18k€-16k▼
Financial income75/76B€63€32▼
Recurring financial income75€63€32▼
Non-recurring financial income76B€63€32▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€14k€-19k▼
Income taxes67/77€4k€126▼
Profit (loss) for the period9904€10k€-19k▼
Profit (loss) for the period to be appropriated9905€10k€-19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€28k€9k▼
Profit (loss) brought forward from the previous period14P€18k€28k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €791 | - |
| Remuneration, social security and pensions62 | €234k | €266k | €212k | ▼ 20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €24k | €26k | ▲ 8.1% |
| Other operating charges640/8 | €2k | €4k | €12k | ▲ 251% |
| Non-recurring operating charges66A | - | €115 | - | - |
| Gross operating margin9900 | €269k | €312k | €235k | ▼ 24.7% |
| Operating profit (loss)9901 | €18k | €18k | €-16k | ▼ 188% |
| Financial income75/76B | €288 | €63 | €32 | ▼ 49.9% |
| Recurring financial income75 | €288 | €63 | €32 | ▼ 49.9% |
| Non-recurring financial income76B | €288 | €63 | €32 | ▼ 49.9% |
| Financial charges65/66B | €2k | €4k | €3k | ▼ 24.2% |
| Recurring financial charges65 | €2k | €4k | €3k | ▼ 24.2% |
| Profit (loss) for the period before taxes9903 | €16k | €14k | €-19k | ▼ 232% |
| Income taxes67/77 | €4k | €4k | €126 | ▼ 96.6% |
| Profit (loss) for the period9904 | €12k | €10k | €-19k | ▼ 279% |
| Profit (loss) for the period to be appropriated9905 | €12k | €10k | €-19k | ▼ 279% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €69k | €126k | €95k | ▼ 24.8% |
| Fixed assets21/28 | €50k | €48k | €34k | ▼ 28.0% |
| Intangible fixed assets21 | €22k | €14k | €5k | ▼ 61.8% |
| Tangible fixed assets22/27 | €27k | €34k | €29k | ▼ 14.1% |
| Plant, machinery and equipment23 | €4k | €2k | €4k | ▲ 98.8% |
| Furniture and vehicles24 | €24k | €32k | €25k | ▼ 21.2% |
| Current assets29/58 | €19k | €79k | €61k | ▼ 22.9% |
| Stocks and contracts in progress3 | - | €1k | €1k | = |
| Stocks30/36 | - | €1k | €1k | = |
| Amounts receivable within one year40/41 | €17k | €66k | €23k | ▼ 65.3% |
| Trade receivables40 | €17k | €61k | €22k | ▼ 64.0% |
| Other amounts receivable41 | €317 | €4k | €660 | ▼ 83.9% |
| Cash at bank and in hand54/58 | €168 | €6k | €34k | ▲ 485% |
| Deferred charges and accrued income490/1 | €2k | €6k | €2k | ▼ 58.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €69k | €126k | €95k | ▼ 24.8% |
| Equity10/15 | €19k | €29k | €10k | ▼ 64.3% |
| Contributions10/11 | €1k | €1k | €1k | = |
| Profit (loss) carried forward14 | €18k | €28k | €9k | ▼ 66.6% |
| Amounts payable17/49 | €50k | €97k | €84k | ▼ 13.0% |
| Amounts payable after more than one year17 | €9k | €3k | - | - |
| Financial debts170/4 | €9k | €3k | - | - |
| Amounts payable within one year42/48 | €41k | €94k | €84k | ▼ 10.5% |
| Current portion of amounts payable after more than one year42 | €20k | €6k | €3k | ▼ 57.2% |
| Financial debts43 | €6k | - | - | - |
| Credit institutions430/8 | €6k | - | - | - |
| Trade debts44 | €7k | €19k | €23k | ▲ 23.9% |
| Suppliers440/4 | €7k | €19k | €23k | ▲ 23.9% |
| Taxes, remuneration and social security45 | €8k | €63k | €51k | ▼ 18.1% |
| Taxes450/3 | €3k | €37k | €30k | ▼ 18.3% |
| Remuneration and social security454/9 | €4k | €26k | €21k | ▼ 17.9% |
| Other amounts payable47/48 | €1k | €7k | €7k | ▲ 8.2% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €10k | €-19k | ▼ 279% |
| + Depreciation and write-downs630 | €15k | €24k | €26k | ▲ 8.1% |
| Operating cash flow (approximation) | €27k | €35k | €7k | ▼ 78.8% |
| Investment in fixed assets (approximation) | - | €-22k | €-13k | ▲ 42.0% |
| Change in cash | - | €6k | €28k | ▲ 400% |
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
2024
15-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series.
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
06-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial 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, Sivry-Rance · 1 establishment unit since 2017
Ground area
4,268 m²
Building footprint
278 m²
Volume, LiDAR
636 m³
2 parcels, Wallonia · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Goegnies(AUL) 14, 7040 Quévy
since 20172.264.330.584
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56053B0264/00L000 | Wallonia | 3,482 m² | 1 · 200 m² | - |
| 53006B0281/00Z000 | Wallonia | 785 m² | 1 · 78 m² | 10.1 m · 3 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.
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Of 22,832 companies in sector 43211 we hold annual accounts for 10,326. 5,647 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
Founded11-05-2017
Fiscal year end30-09
Activities, NACEBEL 2025
43211General electrical installation work
47400Retail sale of information and communication equipment
Scores and ratios are computed by Checked and are not a credit decision.