ETHNOA

Active

Private limited companyfounded 20188 yrs activeRue du Pont(MAR) 2, 7387 Honnelles, BelgiumKBO/BCE: BE 0699.642.588

ETHNOA has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €191k and a net result of €-4k. Equity is growing by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 81% of 26056 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).

Watch Print / PDF

Checked score

Score 2024

70 / 100

Healthy▼ -16 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0▼-36

Solvency100=

Growth52=

Stability100

Bankruptcy probability, 12 months

1.2% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €13k at 30 days acceptable

Liquidity ample (current ratio 4.07 against 3.54 in 2023), and 28.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

+raises risk○neutral

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

71.6%

Return on assets

-1.4%

Age of the figures

20 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2026, 396 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 6 filings

Deviation from the deadline

2025

not confirmed

2024

396 d late

2023

384 d late

2022

156 d late

2021

268 d late

2020

118 d late

2019

104 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-4k

2023 · €14k

2019: €33k 2020: €30k 2021: €82k 2022: €23k 2023: €14k

2019 → 2024

Working capital

€184k▼ 4.8%

2023 · €193k

2019: €49k 2020: €54k 2021: €132k 2022: €183k 2023: €193k

2019 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€75k-€157k▲ 109%€181k▲ 14.7%€195k▲ 7.9%€191k▼ 2.0%

Operating result€42k-€109k▲ 161%€33k▼ 69.4%€38k▲ 14.6%€3k▼ 91.5%

Net result€30k-€82k▲ 177%€23k▼ 71.8%€14k▼ 38.6%€-4k

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 92% below 2023 and is the lowest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €266k

91.5%

Fixed assets €23k▼ 30.7%

Current assets €244k▼ 9.4%

Equity and liabilities €266k

71.6%

28.4%

Equity €191k▼ 2.0%

Debt €76k▼ 29.4%

The debt ratio falls from 35.5% to 28.4%: debt falls faster than equity shrinks.

Key figures and ratios

2024 value · change against 2023

EBITDA

€13k▼

2023 · €49k

Cash flow

€6k▼

2023 · €25k

Solvency

71.6%▲

2023 · 64.5%

Current ratio

4.07▲

2023 · 3.54

Quick ratio

3.68▲

2023 · 3.54

Debt / equity

0.40▼

2023 · 0.55

ROE

-2.0%▼

2023 · 7.3%

ROA

-1.4%▼

2023 · 4.7%

Interest coverage

4.74▼

2023 · 17.61

Debt

€76k▼

2023 · €107k

Debt ≤ 1 year

€60k▼

2023 · €76k

Debt > 1 year

€16k▼

2023 · €28k

Income taxes

€5k▼

2023 · €21k

Staff costs

€23k▲

2023 · €22k

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

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€302k€266k▼

Fixed assets21/28€33k€23k▼

Tangible fixed assets22/27€33k€23k▼

Plant, machinery and equipment23€4k€2k▼

Furniture and vehicles24€18k€12k▼

Other tangible fixed assets26€11k€8k▼

Financial fixed assets28€30€30=

Current assets29/58€269k€244k▼

Stocks and contracts in progress3-€23k

Stocks30/36-€23k

Amounts receivable within one year40/41€6k€123▼

Other amounts receivable41€6k€123▼

Cash at bank and in hand54/58€262k€217k▼

Deferred charges and accrued income490/1€1k€4k▲

Equity and liabilities

Total equity and liabilities10/49€302k€266k▼

Equity10/15€195k€191k▼

Contributions10/11€12k€12k=

Outside capital11€12k-

Other1109/19€12k-

Reserves13€182k€178k▼

Non-distributable reserves130/1€2k€0▼

Legal reserve130€2k-

Reserves not available under the articles1311-€0

Distributable reserves133€180k€178k▼

Amounts payable17/49€107k€76k▼

Amounts payable after more than one year17€28k€16k▼

Financial debts170/4€8k€658▼

Other amounts payable178/9€20k€15k▼

Amounts payable within one year42/48€76k€60k▼

Current portion of amounts payable after more than one year42€6k€8k▲

Trade debts44€25k€15k▼

Suppliers440/4€25k€15k▼

Taxes, remuneration and social security45€41k€37k▼

Taxes450/3€38k€34k▼

Remuneration and social security454/9€3k€4k▲

Other amounts payable47/48€5k€151▼

Accrued charges and deferred income492/3€3k€0▼

Income statement Code20232024

Remuneration, social security and pensions62€22k€23k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€10k▼

Other operating charges640/8€475€911▲

Gross operating margin9900€72k€37k▼

Operating profit (loss)9901€38k€3k▼

Financial income75/76B-€618

Recurring financial income75-€618

Financial charges65/66B€3k€3k▲

Recurring financial charges65€3k€3k▲

Profit (loss) for the period before taxes9903€35k€1k▼

Income taxes67/77€21k€5k▼

Profit (loss) for the period9904€14k€-4k▼

Profit (loss) for the period to be appropriated9905€14k€-4k▼

Appropriation of the result

Profit (loss) to be appropriated9906€14k€-4k▼

Transfer from equity791/2-€4k

Transfer to equity691/2€14k€0▼

To other reserves6921€14k€0▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 9Financial 3Filings 6

2026

31-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 396 days late

2025

19-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 384 days late

2024

31-12

Financial Weakest financial yearnet €-4k ▼127%

Net result drops to €-4k, the lowest in the series.

03-01

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 156 days late

2023

25-04

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 268 days late

2021

31-12

Financial Highest result since 2019net €82k ▲177%

Operating result €109k, net result €82k, both a record.

31-12

Financial Equity above €150kEq €157k ▲109%

3 profitable years in a row build equity to €157k.

26-11

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 118 days late

2020

12-11

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 104 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 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, Honnelles · 1 establishment unit since 2018

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue du Pont(MAR) 27387 Honnelles

Ground area

1,205 m²

Building footprint

83 m²

Volume, LiDAR

495 m³

Parcel 53049A0096/00N000, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

ETHNOA

Rue du Pont(MAR) 2, 7387 HonnellesRetail trade

since 20182.277.364.416

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
53049A0096/00N000	Wallonia	1,205 m²	1 · 83 m²	7.1 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Profession Wear & Safety

BE 0733.550.721

Veurne · Eq €188k

Of 2,200 companies in sector 47711 we hold annual accounts for 889. 652 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded05-07-2018

Fiscal year end31-12

Activities, NACEBEL

47711Retail sale of women's outerwear

47716Retail sale of clothing and accessories for women, men, children and babies (general range)

Sources

Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers

Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.