Summary
EUREC has the legal form “European economic interest grouping” in the KBO; Checked does not compute a bankruptcy probability for it. The 2025 annual accounts show a net result of €83,607. Its net result ranks better than 71% of 270 sector peers (NACE 72, financial year 2025). The company has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (27 days) Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00435427.
Turnover
≈ €1.7m
Estimated: probably between €990,000 and €2.8m
EBIT margin
Not included in this filing
Net result
€83,607▲ 37.1%
2024 · €60,962
Working capital
-€9,877▲ 0.6%
2024 · -€9,940
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 25% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.08m
2025
Net result€0.08m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.6m
2025
Debt€2.6m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.01m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)3.2%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.00
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)6.9
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 72, Scientific research and development: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Total assets, Working capital, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.04m-€0.09m▲ 130%€0.07m▼ 25.1%€0.09m▲ 32.8%€0.05m▼ 47.7%€0.04m▼ 19.7%€0.06m▲ 64.2%€0.08m▲ 24.7%
Net result€0.04m-€0.09m▲ 131%€0.06mwithin the sector's middle half▼ 25.7%€0.09mwithin the sector's middle half▲ 32.7%€0.04mwithin the sector's middle half▼ 48.7%€0.04mwithin the sector's middle half▼ 18.1%€0.06mwithin the sector's middle half▲ 68.8%€0.08mwithin the sector's middle half▲ 37.1%
Total assets€2.0m-€2.2m▲ 9.7%€2.4mwithin the sector's middle half▲ 8.9%€2.1mwithin the sector's middle half▼ 10.8%€2.1mabove the sector's middle half▲ 0.1%€1.8mabove the sector's middle half▼ 15.3%€2.1mabove the sector's middle half▲ 14.8%€2.6mwithin the sector's middle half▲ 24.2%
Debt€2.0m-€2.2m▲ 9.7%€2.4m▲ 8.9%€2.1m▼ 10.8%€2.1m▲ 0.1%€1.8m▼ 15.3%€2.1m▲ 14.8%€2.6m▲ 24.2%
Working capital-€0.007m--€0.02m▼ 210%-€0.02mbelow the sector's middle half▲ 16.4%-€0.004mbelow the sector's middle half▲ 79.4%€0.002mbelow the sector's middle half-€0.006mbelow the sector's middle half-€0.01mbelow the sector's middle half▼ 64.5%-€0.01mwithin the sector's middle half▲ 0.6%
Current ratio1.00-0.99▼ 0.010.99below the sector's middle half=1.00below the sector's middle half▲ 0.011.00below the sector's middle half=1.00below the sector's middle half=1.00below the sector's middle half=1.00within the sector's middle half=
Return on assets (ROA)1.9%-3.9%▲ 2.1pp2.7%within the sector's middle half▼ 1.3pp4.0%within the sector's middle half▲ 1.3pp2.1%within the sector's middle half▼ 2.0pp2.0%within the sector's middle half▼ 0.1pp2.9%within the sector's middle half▲ 0.9pp3.2%within the sector's middle half▲ 0.3pp
Staff (FTE)5.6-6▲ 7.1%5.4within the sector's middle half▼ 10.0%6.4within the sector's middle half▲ 18.5%6.8▲ 6.3%6.8=7▲ 2.9%6.9within the sector's middle half▼ 1.4%
above
within
below
the middle half of NACE 72, Scientific research and development: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€12,377 ▲ 24.5%
Current assets
€2.6m ▲ 24.2%
Key figures and ratios
EBITDA
€76,036▲
2024 · €60,830
Cash flow
€84,135▲
2024 · €61,241
Quick ratio
0.51▼
2024 · 0.61
Interest coverage
73.05▼
2024 · 74.67
Debt ≤ 1 year
€2.6m▲
2024 · €2.1m
Staff costs
€623,300▲
2024 · €553,150
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €460,378 | €488,975 | €535,586 | €553,150 | €623,300 | ▲ 12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,517 | €8,133 | €10,650 | €11,773 | €4,722 | €2,205 | €278 | €528 | ▲ 89.5% |
| Other operating charges640/8 | - | - | - | €767 | €310 | - | - | - | - |
| Gross operating margin9900 | €399,826 | €510,239 | €475,094 | €560,677 | €539,935 | €574,673 | €613,980 | €699,336 | ▲ 13.9% |
| Operating profit (loss)9901 | €38,328 | €88,198 | €66,101 | €87,760 | €45,928 | €36,882 | €60,552 | €75,509 | ▲ 24.7% |
| Financial income75/76B | - | - | - | €0 | €51 | €15 | €1,226 | €9,139 | ▲ 646% |
| Recurring financial income75 | €422 | €33 | €0 | €0 | €51 | €15 | €1,226 | €9,139 | ▲ 646% |
| Financial charges65/66B | - | - | - | €1,760 | €1,883 | €782 | €815 | €1,041 | ▲ 27.8% |
| Recurring financial charges65 | €962 | €990 | €1,308 | €1,760 | €1,883 | €782 | €815 | €1,041 | ▲ 27.8% |
| Profit (loss) for the period before taxes9903 | €37,789 | €87,241 | €64,793 | €86,000 | €44,097 | €36,114 | €60,962 | €83,607 | ▲ 37.1% |
| Income taxes67/77 | €42 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €37,747 | €87,241 | €64,793 | €86,000 | €44,097 | €36,114 | €60,962 | €83,607 | ▲ 37.1% |
| Profit (loss) for the period to be appropriated9905 | €37,747 | €87,241 | €64,793 | €86,000 | €44,097 | €36,114 | €60,962 | €83,607 | ▲ 37.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.0m | €2.2m | €2.4m | €2.1m | €2.1m | €1.8m | €2.1m | €2.6m | ▲ 24.2% |
| Fixed assets21/28 | €0.008m | €0.02m | €0.02m | €0.009m | €0.004m | €0.01m | €0.01m | €0.01m | ▲ 24.5% |
| Intangible fixed assets21 | €0.004m | €0.02m | €0.02m | €0.007m | €0.002m | €278 | - | - | - |
| Tangible fixed assets22/27 | €0.003m | €0.003m | €0.002m | €479 | - | - | - | €0.002m | - |
| Furniture and vehicles24 | - | - | - | €479 | - | - | - | €0.002m | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.01m | €0.01m | €0.01m | ▲ 0.6% |
| Current assets29/58 | €2.0m | €2.2m | €2.4m | €2.1m | €2.1m | €1.8m | €2.1m | €2.6m | ▲ 24.2% |
| Stocks and contracts in progress3 | €0.5m | €0.8m | €0.9m | €0.9m | €0.3m | €0.4m | €0.8m | €1.3m | ▲ 54.2% |
| Contracts in progress37 | - | - | - | €0.9m | €0.3m | €0.4m | €0.8m | €1.3m | ▲ 54.2% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.2m | €0.2m | €0.4m | €0.1m | €0.2m | €0.2m | ▲ 2.1% |
| Trade receivables40 | - | - | - | €0.2m | €0.3m | €0.1m | €0.2m | €0.2m | ▲ 2.6% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.09m | €0.02m | €0.02m | €0.02m | ▼ 1.8% |
| Current investments50/53 | - | - | - | - | €0.1m | €1.0m | €0.9m | €1.1m | ▲ 15.0% |
| Cash at bank and in hand54/58 | €1.3m | €1.1m | €1.3m | €1.0m | €1.3m | €0.3m | €0.1m | €0.04m | ▼ 65.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.003m | €0.005m | €0.002m | €0.003m | ▲ 54.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.0m | €2.2m | €2.4m | €2.1m | €2.1m | €1.8m | €2.1m | €2.6m | ▲ 24.2% |
| Amounts payable17/49 | €2.0m | €2.2m | €2.4m | €2.1m | €2.1m | €1.8m | €2.1m | €2.6m | ▲ 24.2% |
| Amounts payable within one year42/48 | €2.0m | €2.2m | €2.4m | €2.1m | €2.1m | €1.8m | €2.1m | €2.6m | ▲ 24.1% |
| Financial debts43 | - | - | - | - | €0.003m | €0.002m | €0.002m | €211 | ▼ 91.5% |
| Credit institutions430/8 | - | - | - | - | €0.003m | €0.002m | €0.002m | €211 | ▼ 91.5% |
| Trade debts44 | €0.005m | €0.06m | €0.07m | €0.01m | €0.06m | €0.006m | €0.03m | €0.06m | ▲ 112% |
| Suppliers440/4 | - | - | - | €0.01m | €0.06m | €0.006m | €0.03m | €0.06m | ▲ 112% |
| Advances received on contracts in progress46 | - | - | - | €1.2m | €1.1m | €0.8m | €1.0m | €1.4m | ▲ 37.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.08m | €0.1m | €0.09m | €0.1m | ▲ 20.2% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | - | - |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.06m | €0.09m | €0.08m | €0.1m | ▲ 40.3% |
| Other amounts payable47/48 | - | - | - | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 8.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.006m | €0.004m | - | €0.003m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.04m | €0.09m | €0.06m | €0.09m | €0.04m | €0.04m | €0.06m | €0.08m | ▲ 37.1% |
| + Depreciation and write-downs630 | €0.002m | €0.008m | €0.01m | €0.01m | €0.005m | €0.002m | €278 | €0.001m | ▲ 89.5% |
| Operating cash flow (approximation) | €0.04m | €0.1m | €0.08m | €0.1m | €0.05m | €0.04m | €0.06m | €0.08m | ▲ 37.4% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.008m | -€0.002m | €0 | -€0.008m | -€10 | -€0.003m | ▼ 29,539% |
| Change in cash | - | -€0.1m | €0.1m | -€0.3m | €0.3m | -€1.0m | -€0.2m | -€0.09m | ▲ 47.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-08-2026 | 2026-00435427 |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00407939 |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00376582 |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00266182 |
| 31-12-2021 | full format | 01-08-2022 | 2022-20264142 |
| 31-12-2020 | full format | 27-07-2021 | 2021-41300198 |
| 31-12-2019 | full format | 07-09-2020 | 2020-51700339 |
| 31-12-2018 | full format | 13-05-2019 | 2019-13000297 |
| 31-12-2017 | full format | 12-06-2018 | 2018-17600462 |
| 31-12-2016 | full format | 13-06-2017 | 2017-16700311 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 1,162 active companies whose main activity is other research and development on natural sciences (NACE 72109), figures are known for 726. See the whole sector
Subsidies and aid
European Union, budget
2022 to 2025 · 17 entries · €2.1m in total| Year | Entries | Awarded |
|---|---|---|
| 2025 | 3 | €308,133 |
| 2024 | 5 | €756,353 |
| 2023 | 5 | €300,472 |
| 2022 | 4 | €703,638 |
Projects
RESKILL4NETZERO - RESKILLING AND UPSKILLING THE WORKFORCE TO THRIVE IN A NET-ZERO EMISSIONS FUTURE
SECRETARIAT OF THE EUROPEAN TECHNOLOGY AND INNOVATION PLATFORM ON RENEWABLE HEATING
AND COOLING IN 2022-2025
THEUS - TRANSMISSION AND DISTRIBUTION HYBRID NETWORKS WITH ENHANCED RESILIENCE AND ROBUSTNESS
IWG5-CSA - EXPERT SUPPORT TO IMPLEMENTATION WORKING GROUP 5 OF THE SET PLAN - ENERGY EFFICIENCY IN BUILDINGS
ACTION GRANT
Show 7 more projects
REFORMERS - REGIONAL ECOSYSTEMS FOR MULTIPLE-ENERGY RESILIENT SYSTEMS
REALIZE - RENEWABLE ENERGY ACTIONS LEVERAGING INNOVATION TOWARDS ZERO EMISSIONS IN EUROPE
ETIP HYDROPOWER - ETIP HYDROPOWER EUROPE
GENDER EQUALITY IN THE GREEN ENERGY TRANSITION
EUROPEAN TECHNOLOGY AND INNOVATION PLATFORM BIOENERGY - SUPPORT OF RENEWABLE FUELS AND ADVANCED BIOENERGY STAKEHOLDERS 2022-2025
SET4H2 - SUPPORT TO THE SET PLAN IWG ON HYDROGEN
SUPPORT FOR THE CREATION OF A MULTI-DISCIPLINARY INNOVATIONS ANALYSIS AND CENTRE OF EXPERTISE FOR THE ENERGY TRANSITION
European research
36 projects · 7 as coordinator · €4.3m EU contributionProjects
Secretariat of the European Technology and Innovation Platform on Renewable Heating and Cooling
Secretariat of the European Technology and Innovation Platform on Renewable Heating and Cooling in 2022-2025
Transmission and distribution Hybrid nEtworks with enhanced resilience and robUstnesS
Support to all stakeholders from the Photovoltaic sector and related sectors to contribute to the SET-Plan
Scaling-up the involvement of women in supporting and accelerating market uptake of renewable energy sources for heating and cooling
Show 30 more projects
Expert support to Implementation Working Group 5 of the SET Plan - Energy Efficiency in Buildings
Regional Ecosystems FOR Multiple-Energy Resilient Systems
More and better designed national public support for energy technology Research and Innovation
Competitive SolAr Power Towers – CAPTure
Supporting the SET Plan Implementation Working Group on Energy and Resource Efficiency in Buildings
Solar Heat for Industrial Process towards Food and Agro Industries Commitment in Renewables
RENEWABLE ENERGY ACTIONS LEVERAGING INNOVATION TOWARDS ZERO EMISSIONS IN EUROPE
DIGISOLAR: ADVANCED DIGITAL TOOLS FOR OPTIMISED PLANNING, MAINTENANCE AND OPERATION OF SOLAR THERMAL HYBRID SYSTEMS
PhotoVoltaic European Research Infrastructure
Secretariat of the European Technology and Innovation Platform on Renewable Heating and Cooling (4th evolution)
ETIP Hydropower Europe
Smart strategies for the transition in coal intensive regions
Energy Smart Livestock Farming towards Zero Fossil Fuel Consumption
Developing Cryogenic Energy Storage at Refrigerated Warehouses as an Interactive Hub to Integrate Renewable Energy in Industrial Food Refrigeration and to Enhance PowerGrid Sustainability
Actual execution of the Implementation Plan for Photovoltaics and monitoring the Implementation Plan’s delivery
EURO-MEDITERRANEAN COOPERATION ON RESEARCH & TRAINING IN SUN BASED RENEWABLE ENERGIES
SETDEPLOY - Driving the implementation of the SET Plan Action 8
HYDROPOWER-EUROPE
EUROPEAN TECHNOLOGY AND INNOVATION PLATFORM BIOENERGY - SUPPORT OF RENEWABLE FUELS AND ADVANCED BIOENERGY STAKEHOLDERS 2022-2025
Empowering Trans-Mediterranean Renewable Energy Research Alliance for Europe 2020 challenges
ETIP HYDROPOWER 2026-2028
Support of the activities of all stakeholders from the PV sector to collaborate together to achieve the 2020 targets and beyond
Quintuple Helix Approach to Targeted Open Innovation in Energy, Water, Agriculture in the South Mediterranean Neighborhood
Support to the SET Plan IWG on hydrogen 2026-2028
Support of the activities of all stakeholders from the PV sector to collaborate together to achieve the 2020 targets
The European Hydrogen Academy
Support to the SET Plan IWG on hydrogen
EUROPEAN TECHNOLOGY AND INNOVATION PLATFORM BIOENERGY - SUPPORT OF RENEWABLE FUELS AND ADVANCED BIOENERGY STAKEHOLDERS 2026-2028
Demonstration of integrated and sustainable enclosed raceway and photobioreactor microalgae cultivation with biodiesel production and validation
Support to the activities of the European Technology Platform on Renewable Heating and Cooling
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.