Turnover
≈ €110,000 estimated
The micro format states no turnover.
ETIOKIN +
Lifetime
13 annual accounts with figures on one time axispeak €37,986 (2021)
€26,181▼ 8.1%
lowest -€11,476 (2015)
€9,056▼ 12.6%
peak €41,069 (2025)
€41,069▲ 28.3%
€13,305▼ 43.6%
Board1 name since 2013
1 directorDEGUELDRE Frédéric
Documentsfilings and deeds
03-09-202634 days late
2025micro format
Equity from €32,013 to €41,069Debts from €23,580 to €13,305Cash from €19,065 to €32,988
Key points
from the 2025 annual accountsChecked score
86
Excellent
Financially stronger than 80% of micro companies without a NACE code
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.2%
01-2025: 1.1%▼ -0.1 percentage points vs 12-2024
02-2025: 1.2%▲ +0.1 percentage points vs 01-2025
03-2025: 1.2%● unchanged vs 02-2025
04-2025: 1.2%● unchanged vs 03-2025
05-2025: 1.2%● unchanged vs 04-2025
06-2025: 1.2%● unchanged vs 05-2025
07-2025: 1.2%● unchanged vs 06-2025
08-2025: 1.8%▲ +0.6 percentage points vs 07-2025
09-2025: 1.8%● unchanged vs 08-2025
10-2025: 2.6%▲ +0.8 percentage points vs 09-2025highest value
11-2025: 0.7%▼ -1.9 percentage points vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.9%▲ +0.2 percentage points vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 0.9%● unchanged vs 06-2026
08-2026: 1.3%▲ +0.4 percentage points vs 07-2026
09-2026: 1.3%● unchanged vs 08-2026
10-2026: 0.5%▼ -0.8 percentage points vs 09-2026lowest value
11-2026: 0.5%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 34 days late; 3 of the last 3 accounts late
No main activity registered
lowers risk
Liquidity: current ratio 4.86, cash €32,988
Founded in 2013
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 81% of them on solvency, 86% on liquidity, 72% on profitability and 81% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as ETIOKIN + has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of ETIOKIN + itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,447 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.
| 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 34,693 companies, not a prediction for ETIOKIN +. 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 of up to €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.86 (3.45 in 2024), above the usual 1.5. Short-term debt is 18.3% and cash 60.7% of total assets. 24.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 34 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-09-2026, 34 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
34 days late
2024
58 days late
2023
91 days late
2022
49 days late
2021
23 days late
2020
30 days late
2019
88 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 53 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 18 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0509968293
Amendment of the articles · Legal-form change · Resignations & appointments
General meeting of 05-02-2024 · Gazette deed
First establishment
Rue Bierwa 12, Havelange
Incorporation
published on 01-03-2013 · Gazette deed
Official details
Source: KBO- Status
- Active since 08-02-2013Normal situation
- Activity
- “L’exercice et la pratique de la kinésithérapie dans son sens le plus large,y compris…” (deed in French)From the articles, 19 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.218.390.0975374 Havelange, since 19-02-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 19-08-2025
Insights on ETIOKIN +
ETIOKIN + files the micro format. That format states no turnover. The gross margin fell from €29,900 in 2013 to €26,181 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ETIOKIN +
- What is the company number of ETIOKIN +?
- The company number of ETIOKIN + is 0509.968.293. The VAT number is the same number with BE in front: BE 0509.968.293.
- Where is ETIOKIN + based?
- The registered office is at Rue Bierwa 12, 5374 Havelange.Company details
- What is the legal form of ETIOKIN +?
- ETIOKIN + is a private limited company (BV).
- When was ETIOKIN + founded?
- ETIOKIN + was founded on 08-02-2013.
- Is ETIOKIN + still active?
- Yes, ETIOKIN + is an active enterprise in the KBO register.
- What is the turnover of ETIOKIN +?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €26,181 and 2,941 comparable companies of the same size. It probably lies between €63,000 and €190,000. It is a rough estimate.Financials
- Is ETIOKIN + profitable?
- In financial year 2025, ETIOKIN + made a profit of €9,056.
- Where can I find the annual accounts of ETIOKIN +?
- ETIOKIN + filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ETIOKIN + due?
- ETIOKIN + must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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