ETL CONSTRUCTION

Active

Private limited companyfounded 20206 yrs activeRue de Maredret, Denée 13, 5537 Anhée, BelgiumKBO/BCE: BE 0752.656.949

The computed 12-month bankruptcy probability of ETL CONSTRUCTION is 2.4% (moderate). The 2024 annual accounts show equity of €108k and a net result of €24k. Equity is growing by ~21.7% per year across the filed fiscal years. Its solvency ranks better than 30% of 9981 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

57 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability75▲+2

Solvency48▼-6

Growth52=

Track record100

Bankruptcy probability, 12 months

2.4% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €6k at 30 days acceptable

Liquidity short (current ratio 0.77 against 0.73 in 2023; short-term debt: 17.5% and cash: 6.3% of total assets), and 77% 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

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

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

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

KBO · registered office

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

23%

Return on assets

5.2%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 4 filings

Deviation from the deadline

2025

not confirmed

2024

29 d late

2023

27 d late

2022

22 d late

2021

71 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

Equity

€108k▲ 29.0%

2023 · €84k

2021: €59k 2022: €73k 2023: €84k

2021 → 2024

Total assets

€470k▲ 63.1%

2023 · €288k

2021: €226k 2022: €200k 2023: €288k

2021 → 2024

Net result

€24k▲ 136%

2023 · €10k

2021: €49k 2022: €14k 2023: €10k

2021 → 2024

Working capital

€-19k▲ 17.4%

2023 · €-23k

2021: €-84k 2022: €-52k 2023: €-23k

2021 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2021202220232024Trend

Equity€59k-€73k▲ 23.7%€84k▲ 14.0%€108k▲ 29.0%

Operating result€64k-€19k▼ 70.4%€21k▲ 13.1%€39k▲ 79.7%

Net result€49k-€14k▼ 71.5%€10k▼ 26.7%€24k▲ 136%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed two years in a row; 2024 is 80% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €470k

86.6%

13.4%

Fixed assets €407k▲ 80.2%

Current assets €63k▲ 1.0%

Equity and liabilities €470k

23.0%

77.0%

Equity €108k▲ 29.0%

Debt €362k▲ 77.1%

The debt ratio rises from 70.9% to 77.0%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€75k▲

2023 · €47k

Cash flow

€60k▲

2023 · €36k

Solvency

23.0%▼

2023 · 29.1%

Current ratio

0.77▲

2023 · 0.73

Quick ratio

0.63▲

2023 · 0.60

Debt / equity

3.35▲

2023 · 2.44

ROE

22.5%▲

2023 · 12.3%

ROA

5.2%▲

2023 · 3.6%

Interest coverage

6.13▼

2023 · 6.22

Debt

€362k▲

2023 · €204k

Debt ≤ 1 year

€82k▼

2023 · €85k

Debt > 1 year

€280k▲

2023 · €119k

Income taxes

€2k▼

2023 · €4k

Staff costs

€4k▼

2023 · €5k

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€288k€470k▲

Fixed assets21/28€226k€407k▲

Intangible fixed assets21€89k€75k▼

Tangible fixed assets22/27€137k€332k▲

Land and buildings22€118k€223k▲

Plant, machinery and equipment23€3k€5k▲

Furniture and vehicles24€17k€19k▲

Leasing and similar rights25-€85k

Current assets29/58€62k€63k▲

Stocks and contracts in progress3€11k€11k=

Stocks30/36€5k€5k=

Contracts in progress37€7k€7k=

Amounts receivable within one year40/41€16k€19k▲

Trade receivables40€12k€2k▼

Other amounts receivable41€4k€17k▲

Cash at bank and in hand54/58€34k€30k▼

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

Equity and liabilities

Total equity and liabilities10/49€288k€470k▲

Equity10/15€84k€108k▲

Contributions10/11€10k€10k=

Profit (loss) carried forward14€74k€98k▲

Amounts payable17/49€204k€362k▲

Amounts payable after more than one year17€119k€280k▲

Financial debts170/4€119k€280k▲

Amounts payable within one year42/48€85k€82k▼

Current portion of amounts payable after more than one year42€24k€44k▲

Trade debts44€10k€9k▼

Suppliers440/4€10k€9k▼

Taxes, remuneration and social security45€2k€8k▲

Taxes450/3€589€3k▲

Remuneration and social security454/9€2k€5k▲

Other amounts payable47/48€48k€22k▼

Income statement Code20232024

Remuneration, social security and pensions62€5k€4k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€36k▲

Other operating charges640/8€8k€15k▲

Gross operating margin9900€61k€94k▲

Operating profit (loss)9901€21k€39k▲

Financial income75/76B€1-

Recurring financial income75€1-

Financial charges65/66B€8k€12k▲

Recurring financial charges65€8k€12k▲

Profit (loss) for the period before taxes9903€14k€26k▲

Income taxes67/77€4k€2k▼

Profit (loss) for the period9904€10k€24k▲

Profit (loss) for the period to be appropriated9905€10k€24k▲

Appropriation of the result

Profit (loss) to be appropriated9906€74k€98k▲

Profit (loss) brought forward from the previous period14P€63k€74k▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 2Filings 4

2025

29-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 29 days late

2024

31-12

Financial Equity above €100kEq €108k ▲29%

4 profitable years in a row build equity to €108k.

27-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 27 days late

2023

31-12

Financial Weakest financial yearnet €10k ▼26.7%

Net result drops to €10k, the lowest in the series; recovery starts the following year.

22-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 22 days late

2022

10-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 71 days late

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

Directors · office · real estate

Directors

1 act for this company is 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, Anhée · 1 establishment unit since 2020

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 de Maredret, Denée 135537 Anhée

Ground area

144 m²

Building footprint

172 m²

Volume, LiDAR

1,710 m³

Parcel 92033B0152/00M000, Wallonia · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

ETL CONSTRUCTION

Rue de Maredret, Denée 13, 5537 AnhéeGeneral construction of buildings

since 20202.306.424.923

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
92033B0152/00M000	Wallonia	143 m²	1 · 171 m²	11.8 m · 3 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

Destelbergen · Eq €108k

MATERIKS

BE 0727.376.769

Nazareth-De Pinte · Eq €108k

HELIOZA

BE 1024.508.753

Villers-la-Ville · Eq €108k

SERVIDIO

BE 0441.952.487

Fleurus · Eq €108k

Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 13,063 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded17-08-2020

Fiscal year end31-12

Activities, NACEBEL

41001General construction of residential buildings

41002Construction of residential and non-residential buildings

42990Civil engineering

43990Other specialised construction activities

43995Specialised construction activities

71121Engineering and related technical consultancy, excluding land surveyors

81300Landscape service activities

Sources

Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers

Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.