ETHNA
ActiveSummary
ETHNA has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79k and a net result of €-25k. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 32% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22▼-28
Solvency46▼-3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity short (current ratio 0.67 against 0.73 in 2024; short-term debt: 55.4% and cash: 10.6% of total assets), and 79.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 2025Solvency, return and age of the figures
Solvency
20.8%
Return on assets
-6.5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
107 d early
2022
2 d late
2021
1 d early
2020
1 d early
2019
29 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-25k
2024 · €21k
2018: €-2k
2019: €36k▲ +1560% vs 2018highest in 8 years
2020: €-28k▼ -179% vs 2019
2021: €-42k▼ -49.0% vs 2020lowest in 8 years
2022: €-31k▲ +26.7% vs 2021
2023: €3k▲ +110% vs 2022
2024: €21k▲ +586% vs 2023
2025: €-25k▼ -220% vs 2024
2018 → 2025
Working capital
€-70k▼ 16.0%
2024 · €-60k
2018: €-36k
2019: €-14k▲ +60.7% vs 2018highest in 8 years
2020: €-45k▼ -212% vs 2019
2021: €-107k▼ -139% vs 2020
2022: €-148k▼ -38.3% vs 2021lowest in 8 years
2023: €-100k▲ +32.1% vs 2022
2024: €-60k▲ +39.8% vs 2023
2025: €-70k▼ -16.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€31k-€-108€83k€104k▲ 25.0%€79k▼ 23.9%
2021: €31k
2022: €-108▼ -100% vs 2021lowest in 5 years
2023: €83k▲ +76868% vs 2022
2024: €104k▲ +25.0% vs 2023highest in 5 years
2025: €79k▼ -23.9% vs 2024
Operating result€-26k-€-8k▲ 70.6%€26k€45k▲ 72.7%€-7k
2021: €-26klowest in 5 years
2022: €-8k▲ +70.6% vs 2021
2023: €26k▲ +434% vs 2022
2024: €45k▲ +72.7% vs 2023highest in 5 years
2025: €-7k▼ -115% vs 2024
Net result€-42k-€-31k▲ 26.7%€3k€21k▲ 586%€-25k
2021: €-42klowest in 5 years
2022: €-31k▲ +26.7% vs 2021
2023: €3k▲ +110% vs 2022
2024: €21k▲ +586% vs 2023highest in 5 years
2025: €-25k▼ -220% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7k after €45k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €379k
Fixed assets
€239k ▼ 11.1%
Current assets
€140k ▼ 15.7%
Equity and liabilities €379k
Equity
€79k ▼ 23.9%
Debt
€300k ▼ 9.4%
Debt's share of the balance-sheet total rises from 76.2% to 79.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€25k▼
2024 · €78k
Cash flow
€7k▼
2024 · €54k
Current ratio
0.67▼
2024 · 0.73
Quick ratio
0.35▼
2024 · 0.43
Debt to equity
3.81▲
2024 · 3.20
ROE
-31.5%▼
2024 · 20.0%
ROA
-6.5%▼
2024 · 4.8%
Interest coverage
1.41▼
2024 · 3.02
Debt ≤ 1 year
€210k▼
2024 · €226k
Debt > 1 year
€88k▼
2024 · €105k
Income taxes
€376▲
2024 · €369
Staff costs
€172k▲
2024 · €166k
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 · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€435k€379k▼
Fixed assets21/28€269k€239k▼
Tangible fixed assets22/27€269k€239k▼
Land and buildings22€203k€194k▼
Plant, machinery and equipment23€3k€1k▼
Furniture and vehicles24€7k€977▼
Other tangible fixed assets26€57k€43k▼
Financial fixed assets28€165€165=
Current assets29/58€166k€140k▼
Stocks and contracts in progress3€69k€67k▼
Stocks30/36€69k€67k▼
Amounts receivable within one year40/41€53k€32k▼
Trade receivables40€36k€17k▼
Other amounts receivable41€16k€15k▼
Cash at bank and in hand54/58€43k€40k▼
Deferred charges and accrued income490/1€656€649▼
Equity and liabilities
Total equity and liabilities10/49€435k€379k▼
Equity10/15€104k€79k▼
Contributions10/11€100k€100k=
Reserves13€32k€32k=
Tax-exempt reserves132€30k€30k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-28k€-53k▼
Amounts payable17/49€331k€300k▼
Amounts payable after more than one year17€105k€88k▼
Financial debts170/4€105k€88k▼
Amounts payable within one year42/48€226k€210k▼
Current portion of amounts payable after more than one year42€28k€19k▼
Financial debts43€27k€30k▲
Credit institutions430/8€27k€30k▲
Trade debts44€89k€108k▲
Suppliers440/4€89k€108k▲
Taxes, remuneration and social security45€64k€36k▼
Taxes450/3€26k€12k▼
Remuneration and social security454/9€38k€24k▼
Other amounts payable47/48€18k€17k▼
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Remuneration, social security and pensions62€166k€172k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€32k▼
Other operating charges640/8€8k€6k▼
Non-recurring operating charges66A-€3k
Gross operating margin9900€251k€205k▼
Operating profit (loss)9901€45k€-7k▼
Financial income75/76B€2k€1▼
Recurring financial income75€2k€1▼
Financial charges65/66B€26k€18k▼
Recurring financial charges65€26k€18k▼
Profit (loss) for the period before taxes9903€21k€-24k▼
Income taxes67/77€369€376▲
Profit (loss) for the period9904€21k€-25k▼
Profit (loss) for the period to be appropriated9905€21k€-25k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-53k▼
Profit (loss) brought forward from the previous period14P€-49k€-28k▲
Social balance
Average headcount (FTE)90874.54.3▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €169k | €156k | €163k | €166k | €172k | ▲ 3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32k | €32k | €34k | €33k | €32k | ▼ 3.8% |
| Other operating charges640/8 | €5k | €3k | €6k | €8k | €6k | ▼ 14.0% |
| Non-recurring operating charges66A | - | - | - | - | €3k | - |
| Gross operating margin9900 | €179k | €183k | €228k | €251k | €205k | ▼ 18.2% |
| Operating profit (loss)9901 | €-26k | €-8k | €26k | €45k | €-7k | ▼ 115% |
| Financial income75/76B | €1k | €3k | €3k | €2k | €1 | ▼ 100.0% |
| Recurring financial income75 | €1k | €3k | €3k | €2k | €1 | ▼ 100.0% |
| Financial charges65/66B | €17k | €26k | €26k | €26k | €18k | ▼ 31.4% |
| Recurring financial charges65 | €17k | €26k | €26k | €26k | €18k | ▼ 31.4% |
| Profit (loss) for the period before taxes9903 | €-42k | €-31k | €3k | €21k | €-24k | ▼ 216% |
| Income taxes67/77 | €368 | €369 | €369 | €369 | €376 | ▲ 1.9% |
| Profit (loss) for the period9904 | €-42k | €-31k | €3k | €21k | €-25k | ▼ 220% |
| Profit (loss) for the period to be appropriated9905 | €-42k | €-31k | €3k | €21k | €-25k | ▼ 220% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €505k | €491k | €463k | €435k | €379k | ▼ 12.9% |
| Fixed assets21/28 | €358k | €330k | €299k | €269k | €239k | ▼ 11.1% |
| Tangible fixed assets22/27 | €357k | €330k | €299k | €269k | €239k | ▼ 11.1% |
| Land and buildings22 | €231k | €221k | €212k | €203k | €194k | ▼ 4.6% |
| Plant, machinery and equipment23 | €7k | €7k | €4k | €3k | €1k | ▼ 53.8% |
| Furniture and vehicles24 | €20k | €15k | €12k | €7k | €977 | ▼ 85.5% |
| Other tangible fixed assets26 | €100k | €86k | €71k | €57k | €43k | ▼ 23.9% |
| Financial fixed assets28 | €165 | €165 | €165 | €165 | €165 | = |
| Current assets29/58 | €147k | €161k | €164k | €166k | €140k | ▼ 15.7% |
| Stocks and contracts in progress3 | €73k | €85k | €83k | €69k | €67k | ▼ 3.6% |
| Stocks30/36 | €73k | €85k | €83k | €69k | €67k | ▼ 3.6% |
| Amounts receivable within one year40/41 | €26k | €30k | €30k | €53k | €32k | ▼ 39.0% |
| Trade receivables40 | €16k | €17k | €17k | €36k | €17k | ▼ 52.6% |
| Other amounts receivable41 | €10k | €13k | €12k | €16k | €15k | ▼ 8.8% |
| Cash at bank and in hand54/58 | €47k | €46k | €50k | €43k | €40k | ▼ 6.9% |
| Deferred charges and accrued income490/1 | €585 | €575 | €538 | €656 | €649 | ▼ 1.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €505k | €491k | €463k | €435k | €379k | ▼ 12.9% |
| Equity10/15 | €31k | €-108 | €83k | €104k | €79k | ▼ 23.9% |
| Contributions10/11 | €20k | €20k | €100k | €100k | €100k | = |
| Reserves13 | €32k | €32k | €32k | €32k | €32k | = |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €30k | €30k | €30k | €30k | €30k | = |
| Distributable reserves133 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-21k | €-52k | €-49k | €-28k | €-53k | ▼ 87.3% |
| Amounts payable17/49 | €474k | €492k | €380k | €331k | €300k | ▼ 9.4% |
| Amounts payable after more than one year17 | €218k | €181k | €116k | €105k | €88k | ▼ 15.8% |
| Financial debts170/4 | €218k | €181k | €116k | €105k | €88k | ▼ 15.8% |
| Amounts payable within one year42/48 | €254k | €309k | €264k | €226k | €210k | ▼ 7.3% |
| Current portion of amounts payable after more than one year42 | €48k | €38k | €26k | €28k | €19k | ▼ 32.7% |
| Financial debts43 | - | €427 | €1k | €27k | €30k | ▲ 9.4% |
| Credit institutions430/8 | - | €427 | €1k | €27k | €30k | ▲ 9.4% |
| Trade debts44 | €168k | €239k | €151k | €89k | €108k | ▲ 21.7% |
| Suppliers440/4 | €168k | €239k | €151k | €89k | €108k | ▲ 21.7% |
| Taxes, remuneration and social security45 | €33k | €31k | €41k | €64k | €36k | ▼ 43.4% |
| Taxes450/3 | €1k | €3k | €10k | €26k | €12k | ▼ 55.3% |
| Remuneration and social security454/9 | €32k | €28k | €30k | €38k | €24k | ▼ 35.1% |
| Other amounts payable47/48 | €5k | €836 | €46k | €18k | €17k | ▼ 7.6% |
| Accrued charges and deferred income492/3 | €1k | €2k | €82 | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-42k | €-31k | €3k | €21k | €-25k | ▼ 220% |
| + Depreciation and write-downs630 | €32k | €32k | €34k | €33k | €32k | ▼ 3.8% |
| Operating cash flow (approximation) | €-11k | €1k | €37k | €54k | €7k | ▼ 87.2% |
| Investment in fixed assets (approximation) | - | €-5k | €-3k | €-3k | €-2k | ▲ 33.7% |
| Change in cash | - | €-1k | €4k | €-7k | €-3k | ▲ 57.3% |
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
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
Financial
Equity above €100kEq €104k ▲25%
2 profitable years in a row build equity to €104k.
14-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Back to profitnet €3k
Net result €3k after 3 loss-making years.
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 2 days late
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-09
Financial
Weakest financial yearnet €-42k
Net result drops to €-42k, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
2019
30-09
Financial
Back to profitnet €36k
Net result €36k after one loss-making year.
30-09
Financial
Equity above €100kEq €102k ▲55.2%
Equity rises from €66k to €102k.
Show earlier events
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
10-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Andenne · 1 establishment unit since 2006
Ground area
555 m²
Building footprint
369 m²
Parcel 92124A0285/00S000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Chez Nicolas
since 20062.156.423.331
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92124A0285/00S000 | Wallonia | 555 m² | 1 · 369 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAndenne2.156.423.331
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,848. 4,678 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
Founded12-09-2006
Fiscal year end30-09
Trade name FR
CHEZ NICOLAS
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
43320Joinery installation
43331Floor and wall tiling
43343Specialised construction activities
43421Specialised construction activities
81300Landscape service activities
Contact
E-mail
ethna@live.beAndenne
Phone
081588236Andenne
Scores and ratios are computed by Checked and are not a credit decision.