ETUDES TOITURES BARDAGES
ActiveSummary
ETUDES TOITURES BARDAGES has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €358k and a net result of €180k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 53% of 2045 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▼-3
Solvency70▲+18
Growth58=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.13 in 2024; short-term debt: 47.3% and cash: 23.7% of total assets), and 55.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 43
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.7%
Return on assets
22.5%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-12-2025, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
119 d early
2023
on the day
2022
1 d early
2021
31 d early
2020
103 d early
2019
100 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€180k▼ 68.2%
2024 · €566k
2019: €88k
2020: €279k
2021: €254k
2022: €276k
2023: €213k
2024: €566k
2019 → 2025
Working capital
€130k▲ 12.0%
2024 · €116k
2019: €173k
2020: €192k
2021: €190k
2022: €159k
2023: €116k
2024: €116k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€366k-€359k▼ 1.9%€356k▼ 0.9%€360k▲ 1.2%€358k▼ 0.5%
Operating result€257k-€279k▲ 8.7%€215k▼ 23.0%€565k▲ 163%€182k▼ 67.8%
Net result€254k-€276k▲ 8.8%€213k▼ 22.8%€566k▲ 166%€180k▼ 68.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 68% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €802k
Fixed assets
€293k ▼ 17.9%
Current assets
€510k ▼ 48.1%
Equity and liabilities €802k
Equity
€358k ▼ 0.5%
Debt
€444k ▼ 54.6%
Debt's share of the balance-sheet total falls from 73.1% to 55.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€236k▼
2024 · €618k
Cash flow
€234k▼
2024 · €619k
Current ratio
1.34▲
2024 · 1.13
Quick ratio
1.26▲
2024 · 1.09
Debt to equity
1.24▼
2024 · 2.72
ROE
50.3%▼
2024 · 157.2%
ROA
22.5%▼
2024 · 42.3%
Interest coverage
59.28▼
2024 · 109.11
Debt ≤ 1 year
€380k▼
2024 · €866k
Debt > 1 year
€64k▼
2024 · €112k
Income taxes
€610▲
2024 · €447
Staff costs
€228k▼
2024 · €248k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.34M€802k▼
Fixed assets21/28€356k€293k▼
Intangible fixed assets21€8k€4k▼
Tangible fixed assets22/27€329k€286k▼
Land and buildings22€223k€209k▼
Plant, machinery and equipment23€10k€8k▼
Furniture and vehicles24€94k€68k▼
Other tangible fixed assets26€2k€2k▼
Financial fixed assets28€19k€2k▼
Current assets29/58€982k€510k▼
Stocks and contracts in progress3€37k€31k▼
Stocks30/36€37k€31k▼
Amounts receivable within one year40/41€129k€275k▲
Trade receivables40€117k€218k▲
Other amounts receivable41€12k€57k▲
Cash at bank and in hand54/58€808k€190k▼
Deferred charges and accrued income490/1€8k€14k▲
Equity and liabilities
Total equity and liabilities10/49€1.34M€802k▼
Equity10/15€360k€358k▼
Contributions10/11€19k€19k=
Reserves13€247k€247k=
Distributable reserves133€247k€247k=
Profit (loss) carried forward14€74k€74k▲
Investment grants15€21k€19k▼
Amounts payable17/49€979k€444k▼
Amounts payable after more than one year17€112k€64k▼
Financial debts170/4€112k€64k▼
Amounts payable within one year42/48€866k€380k▼
Current portion of amounts payable after more than one year42€47k€48k▲
Trade debts44€161k€121k▼
Suppliers440/4€161k€121k▼
Advances received on contracts in progress46€79k€12k▼
Taxes, remuneration and social security45€13k€13k▼
Taxes450/3€1k€2k▲
Remuneration and social security454/9€12k€11k▼
Other amounts payable47/48€566k€185k▼
Income statement
Code20242025
Remuneration, social security and pensions62€248k€228k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€53k€54k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-7k€0▲
Other operating charges640/8€22k€16k▼
Non-recurring operating charges66A€1k€1k▼
Gross operating margin9900€883k€481k▼
Operating profit (loss)9901€565k€182k▼
Financial income75/76B€7k€3k▼
Recurring financial income75€7k€3k▼
Financial charges65/66B€6k€4k▼
Recurring financial charges65€6k€4k▼
Profit (loss) for the period before taxes9903€567k€181k▼
Income taxes67/77€447€610▲
Profit (loss) for the period9904€566k€180k▼
Profit (loss) for the period to be appropriated9905€566k€180k▼
Appropriation of the result
Profit (loss) to be appropriated9906€634k€254k▼
Profit (loss) brought forward from the previous period14P€67k€74k▲
Profit to be distributed694/7€560k€180k▼
Directors or managers695€560k€180k▼
Social balance
Average headcount (FTE)90876.16.0▼
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
16-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
30-06
Financial
Highest result since 2019net €566k ▲166%
Operating result €565k, net result €566k, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
25-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Dison · 1 establishment unit since 2003
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.
Place Communale 74821 DisonGround area
698 m²
Building footprint
98 m²
Volume, LiDAR
655 m³
Parcel 63002A0270/00E000, Wallonia · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Place Communale 7, 4821 Dison
since 20032.127.010.654
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63002A0270/00E000 | Wallonia | 698 m² | 1 · 98 m² | 7.7 m · 2 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.
Recognitions · licences · registrations
Recognised contractor
2 categoriesETUDES TOITURES BARDAGES SRL32107
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Firma Leflot
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SYMAERTS
BE 0445.530.205
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DAKWERKEN DE COCK BEN
BE 0550.526.963
Wingene · Eq €358,790
RENODAK SYSTEMS
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Mol · Eq €359,493
Of 8,561 companies in sector 43410 we hold annual accounts for 4,357. 3,184 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-01-2003
Fiscal year end30-06
Abbreviation FR
E.T.B.
Activities, NACEBEL 2025
43410Roofing work
43230Insulation installation
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@etb-sprl.be
Phone:087/353505