ETM CONSTRUCT
ActiveThe file of ETM CONSTRUCT contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
For ETM CONSTRUCT, at least two filing cycles of the annual accounts are missing. The computed 12-month bankruptcy probability is 1.2% (low). The 2023 annual accounts show equity of €60,542 and a net result of -€8,440. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 39% of 33673 sector peers (fiscal year 2023).
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
Profitability14▼-65
Solvency60▼-20
Growth52=
Track record85
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Seven 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
35.4%
Return on assets
-4.9%
Age of the figures
33 mo
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 · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 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 · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline27-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 07-03-2025, 219 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
219 d late
2022
144 d late
2021
110 d late
2020
138 d late
2019
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 136 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€8,440
2022 · €10,302
Working capital
€57,504▼ 3.6%
2022 · €59,627
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€32,948▲ 70.7%€10,502▼ 68.1%-€7,657€14,828-€2,554
Net result€27,587▲ 67.7%€7,907▼ 71.3%-€10,602€10,302-€8,440
Equity€61,375▲ 81.6%€69,282▲ 12.9%€58,680▼ 15.3%€68,982▲ 17.6%€60,542▼ 12.2%
Total assets€77,404▲ 76.7%€81,213▲ 4.9%€78,402▼ 3.5%€126,137▲ 60.9%€171,237▲ 35.8%
Debt€16,029▲ 60.0%€11,931▼ 25.6%€19,722▲ 65.3%€57,155▲ 190%€110,695▲ 93.7%
Working capital€59,763▲ 146%€68,767▲ 15.1%€54,057▼ 21.4%€59,627▲ 10.3%€57,504▼ 3.6%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €2,554 after €14,828 in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €171,237
Fixed assets
€3,038 ▼ 67.5%
Current assets
€168,199 ▲ 44.0%
Equity and liabilities €171,237
Equity
€60,542 ▼ 12.2%
Debt
€110,695 ▲ 93.7%
Debt's share of the balance-sheet total rises from 45.3% to 64.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€987▼
2022 · €19,596
Cash flow
-€4,899▼
2022 · €15,070
Current ratio
1.52▼
2022 · 2.04
Debt to equity
1.83▲
2022 · 0.83
ROE
-13.9%▼
2022 · 14.9%
ROA
-4.9%▼
2022 · 8.2%
Interest coverage
0.13▼
2022 · 14.37
Debt ≤ 1 year
€110,695▲
2022 · €57,155
Income taxes
-€2,159▼
2022 · €2,917
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,500 | €117 | ▼ 95.3% |
| Remuneration, social security and pensions62 | - | - | €3,611 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,112 | €1,678 | €493 | €4,768 | €3,541 | ▼ 25.7% |
| Other operating charges640/8 | - | - | €347 | €1,518 | €439 | ▼ 71.1% |
| Non-recurring operating charges66A | - | - | €1,500 | - | - | - |
| Gross operating margin9900 | €44,420 | €12,234 | -€1,706 | €21,114 | €1,426 | ▼ 93.2% |
| Operating profit (loss)9901 | €32,948 | €10,502 | -€7,657 | €14,828 | -€2,554 | ▼ 117% |
| Financial income75/76B | - | - | €1 | - | €74 | - |
| Recurring financial income75 | €1 | €46 | €1 | - | €74 | - |
| Financial charges65/66B | - | - | €2,946 | €1,609 | €8,119 | ▲ 405% |
| Recurring financial charges65 | €296 | €208 | €2,479 | €1,364 | €7,419 | ▲ 444% |
| Non-recurring financial charges66B | - | - | €467 | €245 | €700 | ▲ 186% |
| Profit (loss) for the period before taxes9903 | €32,653 | €9,365 | -€10,602 | €13,219 | -€10,599 | ▼ 180% |
| Income taxes67/77 | €5,066 | €1,458 | - | €2,917 | -€2,159 | ▼ 174% |
| Profit (loss) for the period9904 | €27,587 | €7,907 | -€10,602 | €10,302 | -€8,440 | ▼ 182% |
| Profit (loss) for the period to be appropriated9905 | €27,587 | €7,907 | -€10,602 | €10,302 | -€8,440 | ▼ 182% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €77,404 | €81,213 | €78,402 | €126,137 | €171,237 | ▲ 35.8% |
| Fixed assets21/28 | €1,612 | €515 | €4,623 | €9,355 | €3,038 | ▼ 67.5% |
| Tangible fixed assets22/27 | €1,612 | €515 | €4,623 | €9,355 | €3,038 | ▼ 67.5% |
| Plant, machinery and equipment23 | - | - | - | €773 | €22 | ▼ 97.2% |
| Furniture and vehicles24 | - | - | €4,623 | €8,582 | €3,016 | ▼ 64.9% |
| Current assets29/58 | €75,792 | €80,698 | €73,779 | €116,782 | €168,199 | ▲ 44.0% |
| Amounts receivable within one year40/41 | €30,848 | €32,990 | €52,591 | €78,049 | €96,079 | ▲ 23.1% |
| Trade receivables40 | - | - | €36,236 | €25,212 | €44,971 | ▲ 78.4% |
| Other amounts receivable41 | - | - | €16,355 | €52,837 | €51,108 | ▼ 3.3% |
| Cash at bank and in hand54/58 | €44,944 | €47,708 | €20,592 | €38,107 | €72,120 | ▲ 89.3% |
| Deferred charges and accrued income490/1 | - | - | €596 | €626 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €77,404 | €81,213 | €78,402 | €126,137 | €171,237 | ▲ 35.8% |
| Equity10/15 | €61,375 | €69,282 | €58,680 | €68,982 | €60,542 | ▼ 12.2% |
| Contributions10/11 | €18,592 | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €42,783 | €50,690 | €40,088 | €50,390 | €41,950 | ▼ 16.7% |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | - | €38,229 | €48,531 | €40,091 | ▼ 17.4% |
| Profit (loss) carried forward14 | -€3,116 | - | - | - | - | - |
| Amounts payable17/49 | €16,029 | €11,931 | €19,722 | €57,155 | €110,695 | ▲ 93.7% |
| Amounts payable within one year42/48 | €16,029 | €11,931 | €19,722 | €57,155 | €110,695 | ▲ 93.7% |
| Trade debts44 | €9,345 | €5,840 | €12,426 | €44,768 | €100,927 | ▲ 125% |
| Suppliers440/4 | - | - | €12,426 | €44,768 | €100,927 | ▲ 125% |
| Taxes, remuneration and social security45 | - | - | €7,296 | €12,387 | €9,768 | ▼ 21.1% |
| Taxes450/3 | - | - | €7,296 | €12,387 | €9,768 | ▼ 21.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,587 | €7,907 | -€10,602 | €10,302 | -€8,440 | ▼ 182% |
| + Depreciation and write-downs630 | €11,112 | €1,678 | €493 | €4,768 | €3,541 | ▼ 25.7% |
| Operating cash flow (approximation) | €38,699 | €9,585 | -€10,109 | €15,070 | -€4,899 | ▼ 133% |
| Investment in fixed assets (approximation) | - | -€581 | -€4,601 | -€9,500 | €2,776 | ▲ 129% |
| Change in cash | - | €2,764 | -€27,116 | €17,515 | €34,013 | ▲ 94.2% |
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
2025
07-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 219 days late
13-02
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise du Brabant wallon · event 06-02-2025
2024
19-12
Bankruptcy
Opening
Tribunal de l’entreprise du Brabant wallon · event 12-12-2024
2023
22-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 144 days late
2022
31-12
Financial
Back to profitnet €10,302
Net result €10,302 after one loss-making year.
18-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 110 days late
2021
31-12
Financial
Weakest financial yearnet -€10,602
Net result drops to -€10,602, the lowest in the series; recovery starts the following year.
16-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 138 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 69 days late
2019
31-12
Financial
Highest result since 2018net €27,587 ▲67.7%
Operating result €32,948, net result €27,587, both a record.
30-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 152 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
Show earlier events
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 61 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 61 days late
2014
31-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 31 days late
SignalFinancial 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, Tubize · 1 establishment unit since 1984
Ground area
205 m²
Building footprint
103 m²
Parcel 25105A0121/00E000, Wallonia. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
Rue de Bruxelles 16, 1480 Tubize
since 19842.025.269.334
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25105A0121/00E000 | Wallonia | 205 m² | 1 · 103 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CLEMENTINE MALSCHALCK OFF.PARK GREEN,RUE
DU PANIER VERT 70, 1400 NIVELLES- |
12-12-2024 → 06-02-2025 |
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,420. 6,180 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
Founded23-08-1984
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426135153
Also
9925:BE0426135153
Registered
08-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.