ETRI
ActiveSummary
ETRI has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.43M and a net result of €-45k. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 90% of 2832 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability31▼-43
Solvency100=
Growth42=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 8.63 against 5.98 in 2023; short-term debt: 9.5% and cash: 0% of total assets), and 12.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
87.7%
Return on assets
-2.8%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-06-2025, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
42 d early
2023
90 d late
2022
67 d late
2021
100 d late
2020
89 d late
2019
123 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Turnover
€216k▼ 3.4%
2018 · €224k
2018: €224k
2019: €216k▼ -3.4% vs 2018
2018 → 2019
EBIT margin
55.3%▼ 29.1pp
2018 · 84.4%
2018: 84.4%
2019: 55.3%▼ -34.5% vs 2018
2018 → 2019
Net result
€-45k
2023 · €67k
2018: €182khighest in 7 years
2019: €119k▼ -34.9% vs 2018
2020: €39k▼ -66.7% vs 2019
2021: €114k▲ +188% vs 2020
2022: €4k▼ -96.4% vs 2021
2023: €67k▲ +1530% vs 2022
2024: €-45k▼ -167% vs 2023lowest in 7 years
2018 → 2024
Working capital
€1.18M▼ 3.6%
2023 · €1.22M
2018: €736k
2019: €828k▲ +12.6% vs 2018
2020: €730k▼ -11.9% vs 2019
2021: €604k▼ -17.3% vs 2020lowest in 7 years
2022: €862k▲ +42.8% vs 2021
2023: €1.22M▲ +42.0% vs 2022highest in 7 years
2024: €1.18M▼ -3.6% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.29M-€1.40M▲ 8.8%€1.40M▲ 0.3%€1.47M▲ 4.8%€1.43M▼ 3.0%
2020: €1.29Mlowest in 5 years
2021: €1.40M▲ +8.8% vs 2020
2022: €1.40M▲ +0.3% vs 2021
2023: €1.47M▲ +4.8% vs 2022highest in 5 years
2024: €1.43M▼ -3.0% vs 2023
Operating result€53k-€132k▲ 150%€6k▼ 95.3%€144k▲ 2,207%€-45k
2020: €53k
2021: €132k▲ +150% vs 2020
2022: €6k▼ -95.3% vs 2021
2023: €144k▲ +2207% vs 2022highest in 5 years
2024: €-45k▼ -131% vs 2023lowest in 5 years
Net result€39k-€114k▲ 188%€4k▼ 96.4%€67k▲ 1,530%€-45k
2020: €39k
2021: €114k▲ +188% vs 2020highest in 5 years
2022: €4k▼ -96.4% vs 2021
2023: €67k▲ +1530% vs 2022
2024: €-45k▼ -167% vs 2023lowest in 5 years
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 2024: a loss of €45k after €144k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.63M
Fixed assets
€291k ▲ 18.2%
Current assets
€1.33M ▼ 9.2%
Equity and liabilities €1.63M
Equity
€1.43M ▼ 3.0%
Debt
€200k ▼ 18.8%
Debt's share of the balance-sheet total falls from 14.3% to 12.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-45k▼
2023 · €151k
Cash flow
€-45k▼
2023 · €73k
Current ratio
8.63▲
2023 · 5.98
Debt to equity
0.14▼
2023 · 0.17
ROE
-3.1%▼
2023 · 4.6%
ROA
-2.8%▼
2023 · 3.9%
Debt ≤ 1 year
€155k▼
2023 · €246k
Debt > 1 year
€45k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €56k | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €152k | €239k | €120k | €29k | ▼ 76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €18k | €18k | €6k | €248 | ▼ 96.1% |
| Other operating charges640/8 | - | €13k | €6k | €10k | €2k | ▼ 78.0% |
| Non-recurring operating charges66A | - | - | - | - | €7k | - |
| Gross operating margin9900 | €141k | €162k | €31k | €160k | €-35k | ▼ 122% |
| Operating profit (loss)9901 | €53k | €132k | €6k | €144k | €-45k | ▼ 131% |
| Financial income75/76B | - | €0 | €12k | €3k | €3 | ▼ 99.9% |
| Recurring financial income75 | - | €0 | €12k | €3k | €3 | ▼ 99.9% |
| Financial charges65/66B | - | €3k | €7k | €19k | - | - |
| Recurring financial charges65 | €7k | €3k | €5k | €19k | - | - |
| Non-recurring financial charges66B | - | - | €3k | - | - | - |
| Profit (loss) for the period before taxes9903 | €46k | €129k | €11k | €128k | €-45k | ▼ 135% |
| Income taxes67/77 | €6k | €15k | €6k | €61k | - | - |
| Profit (loss) for the period9904 | €39k | €114k | €4k | €67k | €-45k | ▼ 167% |
| Profit (loss) for the period to be appropriated9905 | €39k | €114k | €4k | €67k | €-45k | ▼ 167% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.59M | €1.72M | €1.56M | €1.72M | €1.63M | ▼ 5.3% |
| Fixed assets21/28 | €599k | €818k | €542k | €246k | €291k | ▲ 18.2% |
| Intangible fixed assets21 | - | €0 | €92k | - | - | - |
| Tangible fixed assets22/27 | €73k | €55k | €37k | €719 | €471 | ▼ 34.4% |
| Land and buildings22 | - | €7k | €6k | - | - | - |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Furniture and vehicles24 | - | €2k | €637 | €719 | €471 | ▼ 34.4% |
| Leasing and similar rights25 | - | €47k | €31k | - | - | - |
| Financial fixed assets28 | €526k | €763k | €413k | €246k | €291k | ▲ 18.3% |
| Current assets29/58 | €986k | €900k | €1.01M | €1.47M | €1.33M | ▼ 9.2% |
| Amounts receivable within one year40/41 | €970k | €891k | €999k | €1.46M | €1.33M | ▼ 8.6% |
| Trade receivables40 | - | €829k | €999k | €1.43M | €1.33M | ▼ 6.8% |
| Other amounts receivable41 | - | €62k | €0 | €30k | €2k | ▼ 92.6% |
| Current investments50/53 | €3k | €3k | - | €15 | - | - |
| Cash at bank and in hand54/58 | €6k | €3k | €3k | - | €13 | - |
| Deferred charges and accrued income490/1 | - | €3k | €12k | €10k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.59M | €1.72M | €1.56M | €1.72M | €1.63M | ▼ 5.3% |
| Equity10/15 | €1.29M | €1.40M | €1.40M | €1.47M | €1.43M | ▼ 3.0% |
| Contributions10/11 | €63k | €63k | €63k | €63k | €63k | = |
| Capital10 | - | €63k | €63k | €63k | €63k | = |
| Issued capital100 | - | €63k | €63k | €63k | €63k | = |
| Reserves13 | €1.22M | €1.34M | €1.34M | €1.41M | €1.36M | ▼ 3.2% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €1.33M | €1.34M | €1.40M | €1.36M | ▼ 3.2% |
| Amounts payable17/49 | €299k | €318k | €152k | €246k | €200k | ▼ 18.8% |
| Amounts payable after more than one year17 | €43k | €22k | - | - | €45k | - |
| Financial debts170/4 | - | €22k | - | - | - | - |
| Other amounts payable178/9 | - | - | - | - | €45k | - |
| Amounts payable within one year42/48 | €256k | €296k | €152k | €246k | €155k | ▼ 37.1% |
| Current portion of amounts payable after more than one year42 | - | €21k | €22k | - | - | - |
| Financial debts43 | - | €3k | - | €1k | €341 | ▼ 72.5% |
| Credit institutions430/8 | - | €3k | - | €1k | €341 | ▼ 72.5% |
| Trade debts44 | €27k | €67k | €30k | €161k | €19k | ▼ 88.4% |
| Suppliers440/4 | - | €67k | €30k | €161k | €19k | ▼ 88.4% |
| Taxes, remuneration and social security45 | - | €194k | €82k | €76k | €125k | ▲ 64.4% |
| Taxes450/3 | - | €194k | €82k | €76k | €125k | ▲ 64.4% |
| Other amounts payable47/48 | - | €11k | €19k | €8k | €11k | ▲ 42.4% |
| Accrued charges and deferred income492/3 | - | €0 | - | €50 | €18 | ▼ 64.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39k | €114k | €4k | €67k | €-45k | ▼ 167% |
| + Depreciation and write-downs630 | €18k | €18k | €18k | €6k | €248 | ▼ 96.1% |
| Operating cash flow (approximation) | €58k | €132k | €22k | €73k | €-45k | ▼ 161% |
| Investment in fixed assets (approximation) | - | €-237k | €258k | €289k | €-45k | ▼ 116% |
| Change in cash | - | €-3k | €549 | - | - | - |
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
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-45k
Net result drops to €-45k, the lowest in the series.
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 90 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 67 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 6.66
Current ratio from 3.04 to 6.66; short-term debt falls from €296k to €152k.
08-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 100 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
01-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 123 days late
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 332 days late
2018
05-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 189 days late
2016
19-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
28-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Deinze · 1 establishment unit since 2008
Ground area
1,714 m²
Building footprint
172 m²
Volume, LiDAR
996 m³
Parcel 44004C0061/00K000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
ETRI
since 20082.177.896.953
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44004C0061/00K000 | Flanders | 1,714 m² | 1 · 172 m² | 8.0 m · 2 fl. |
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.
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Of 3,211 companies in sector 62900 we hold annual accounts for 1,742. 673 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-10-1995
Fiscal year end31-12
Activities, NACEBEL 2025
62900Other information technology and computer services
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.