Summary
Etnodis is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €202k and a net result of €-90k. Its solvency ranks better than 9% of 5547 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 5547 sector peers (2025).
NBB · sector comparisonPosition among 5547 sector peers
Solvency
better than 9%
← weakest
strongest →
raises risk · Young company
Founded in 2023, under 3 years in business. Failure risk is statistically highest between 2 and 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
9 d early
2024
272 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€202k▼ 30.9%
2024 · €292k
2024: €292k
2025: €202k▼ -30.9% vs 2024
2024 → 2025
Net result
€-90k
2024 · €284k
2024: €284k
2025: €-90k▼ -132% vs 2024
2024 → 2025
Total assets
€3.68M▲ 5.4%
2024 · €3.49M
2024: €3.49M
2025: €3.68M▲ +5.4% vs 2024
2024 → 2025
Solvency
5.5%▼ 2.9pp
2024 · 8.4%
2024: 8.4%
2025: 5.5%▼ -34.4% vs 2024
2024 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€292k-€202k▼ 30.9%
2024: €292k
2025: €202k▼ -30.9% vs 2024
Operating result€374k-€-146k
2024: €374k
2025: €-146k▼ -139% vs 2024
Net result€284k-€-90k
2024: €284k
2025: €-90k▼ -132% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €146k after €374k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.68M
Fixed assets
€22k ▲ 2,513%
Current assets
€3.65M ▲ 4.7%
Equity and liabilities €3.68M
Equity
€202k ▼ 30.9%
Debt
€3.48M ▲ 8.7%
Debt's share of the balance-sheet total rises from 91.6% to 94.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-44.7%▼
2024 · 97.3%
ROA
-2.5%▼
2024 · 8.1%
Debt ≤ 1 year
€2.09M▲
2024 · €1.22M
Debt > 1 year
€1.38M▼
2024 · €1.98M
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.49M€3.68M▲
Fixed assets21/28€857€22k▲
Tangible fixed assets22/27€857€16k▲
Plant, machinery and equipment23-€15k
Furniture and vehicles24€857€400▼
Financial fixed assets28-€7k
Current assets29/58€3.49M€3.65M▲
Stocks and contracts in progress3€2.16M€1.08M▼
Stocks30/36€2.16M€1.08M▼
Amounts receivable within one year40/41€1.30M€2.57M▲
Trade receivables40€1.19M€2.57M▲
Other amounts receivable41€112k€4k▼
Cash at bank and in hand54/58€22k€759▼
Equity and liabilities
Total equity and liabilities10/49€3.49M€3.68M▲
Equity10/15€292k€202k▼
Contributions10/11€8k€8k=
Profit (loss) carried forward14€284k€194k▼
Amounts payable17/49€3.20M€3.48M▲
Amounts payable after more than one year17€1.98M€1.38M▼
Financial debts170/4€1.98M€1.38M▼
Amounts payable within one year42/48€1.22M€2.09M▲
Trade debts44€1.12M€1.94M▲
Suppliers440/4€1.12M€1.94M▲
Taxes, remuneration and social security45€100k€139k▲
Taxes450/3€100k€139k▲
Other amounts payable47/48-€15k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€175€7k▲
Other operating charges640/8€2k-
Gross operating margin9900€376k€-140k▼
Operating profit (loss)9901€374k€-146k▼
Financial income75/76B-€275
Recurring financial income75-€275
Financial charges65/66B€2k€-56k▼
Recurring financial charges65€2k€-56k▼
Profit (loss) for the period before taxes9903€372k€-90k▼
Income taxes67/77€88k-
Profit (loss) for the period9904€284k€-90k▼
Profit (loss) for the period to be appropriated9905€284k€-90k▼
Appropriation of the result
Profit (loss) to be appropriated9906€284k€194k▼
Profit (loss) brought forward from the previous period14P-€284k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €175 | €7k | ▲ 3,780% |
| Other operating charges640/8 | €2k | - | - |
| Gross operating margin9900 | €376k | €-140k | ▼ 137% |
| Operating profit (loss)9901 | €374k | €-146k | ▼ 139% |
| Financial income75/76B | - | €275 | - |
| Recurring financial income75 | - | €275 | - |
| Financial charges65/66B | €2k | €-56k | ▼ 3,531% |
| Recurring financial charges65 | €2k | €-56k | ▼ 3,531% |
| Profit (loss) for the period before taxes9903 | €372k | €-90k | ▼ 124% |
| Income taxes67/77 | €88k | - | - |
| Profit (loss) for the period9904 | €284k | €-90k | ▼ 132% |
| Profit (loss) for the period to be appropriated9905 | €284k | €-90k | ▼ 132% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €3.49M | €3.68M | ▲ 5.4% |
| Fixed assets21/28 | €857 | €22k | ▲ 2,513% |
| Tangible fixed assets22/27 | €857 | €16k | ▲ 1,742% |
| Plant, machinery and equipment23 | - | €15k | - |
| Furniture and vehicles24 | €857 | €400 | ▼ 53.4% |
| Financial fixed assets28 | - | €7k | - |
| Current assets29/58 | €3.49M | €3.65M | ▲ 4.7% |
| Stocks and contracts in progress3 | €2.16M | €1.08M | ▼ 50.0% |
| Stocks30/36 | €2.16M | €1.08M | ▼ 50.0% |
| Amounts receivable within one year40/41 | €1.30M | €2.57M | ▲ 97.1% |
| Trade receivables40 | €1.19M | €2.57M | ▲ 115% |
| Other amounts receivable41 | €112k | €4k | ▼ 96.0% |
| Cash at bank and in hand54/58 | €22k | €759 | ▼ 96.6% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €3.49M | €3.68M | ▲ 5.4% |
| Equity10/15 | €292k | €202k | ▼ 30.9% |
| Contributions10/11 | €8k | €8k | = |
| Profit (loss) carried forward14 | €284k | €194k | ▼ 31.7% |
| Amounts payable17/49 | €3.20M | €3.48M | ▲ 8.7% |
| Amounts payable after more than one year17 | €1.98M | €1.38M | ▼ 30.3% |
| Financial debts170/4 | €1.98M | €1.38M | ▼ 30.3% |
| Amounts payable within one year42/48 | €1.22M | €2.09M | ▲ 72.0% |
| Trade debts44 | €1.12M | €1.94M | ▲ 73.6% |
| Suppliers440/4 | €1.12M | €1.94M | ▲ 73.6% |
| Taxes, remuneration and social security45 | €100k | €139k | ▲ 39.3% |
| Taxes450/3 | €100k | €139k | ▲ 39.3% |
| Other amounts payable47/48 | - | €15k | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €284k | €-90k | ▼ 132% |
| + Depreciation and write-downs630 | €175 | €7k | ▲ 3,780% |
| Operating cash flow (approximation) | €284k | €-83k | ▼ 129% |
| Investment in fixed assets (approximation) | - | €-28k | - |
| Change in cash | - | €-22k | - |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 272 days late
NBB filing
0 of 2 acts read
About the unread acts
We know of 2 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
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, Antwerpen · 1 establishment unit since 2023
Ground area
8,698 m²
Building footprint
8,737 m²
Parcel 11803C0320/00E000, Flanders. Linked by address, not a title deed.
43
companies at this address
See who is registered here
1 establishment unit
Etnodis
since 20232.353.040.945
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11803C0320/00E000 | Flanders | 8,698 m² | 1 · 8,737 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 24,727 companies in sector 64210 we hold annual accounts for 19,768. 13,537 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
Founded29-11-2023
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
46190Agents in non-specialised wholesale trade
70200Business and other management consultancy
73300Public relations and communication consultancy
77400Rental and leasing activities
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.