EURECayphas
ActiveSummary
EURECayphas has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.7m and a net result of €232,199. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 92% of 1053 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €310,000 at 30 days acceptable
Liquidity ample (current ratio 7.21 against 19.79 in 2024; short-term debt: 11% and cash: 27.8% of total assets), and 11% of the assets are financed with debt.
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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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
89%
Return on assets
5.6%
Age of the figures
9 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
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
45 d early
2023
2 d early
2022
7 d early
2021
4 d early
2020
11 d early
2019
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
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. Usually files around 24 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by total assets in Morlanwelz, Manufacturing sector#7 company by equity in Morlanwelz#8 oldest company in Morlanwelz, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€232,199▲ 10.5%
2024 · €210,152
Working capital
€2.8m▲ 0.5%
2024 · €2.8m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€404,729▲ 47.6%€993,261▲ 145%€979,550▼ 1.4%€239,488▼ 75.6%€279,866▲ 16.9%
Net result€331,969within the sector's middle half▲ 38.8%€752,876above the sector's middle half▲ 127%€790,988above the sector's middle half▲ 5.1%€210,152within the sector's middle half▼ 73.4%€232,199above the sector's middle half▲ 10.5%
Equity€2.3mwithin the sector's middle half▲ 5.5%€2.8mwithin the sector's middle half▲ 21.4%€3.3mwithin the sector's middle half▲ 19.0%€3.5mwithin the sector's middle half▲ 6.1%€3.7mabove the sector's middle half▲ 4.7%
Total assets€2.6mwithin the sector's middle half▲ 3.6%€3.9mwithin the sector's middle half▲ 47.5%€3.9mwithin the sector's middle half=€3.7mwithin the sector's middle half▼ 4.3%€4.2mabove the sector's middle half▲ 12.8%
Debt€304,655▼ 8.7%€1.1m▲ 246%€520,596▼ 50.7%€150,599▼ 71.1%€456,943▲ 203%
Working capital€1.7mwithin the sector's middle half▲ 18.8%€2.2mabove the sector's middle half▲ 30.6%€2.7mabove the sector's middle half▲ 20.6%€2.8mabove the sector's middle half▲ 4.7%€2.8mabove the sector's middle half▲ 0.5%
Solvency88.4%above the sector's middle half▲ 1.6pp72.7%above the sector's middle half▼ 15.7pp86.5%above the sector's middle half▲ 13.8pp95.9%above the sector's middle half▲ 9.4pp89.0%above the sector's middle half▼ 6.9pp
Current ratio6.65above the sector's middle half▲ 1.333.14above the sector's middle half▼ 3.516.28above the sector's middle half▲ 3.1419.79above the sector's middle half▲ 13.527.21above the sector's middle half▼ 12.58
Return on assets (ROA)12.7%above the sector's middle half▲ 3.2pp19.5%above the sector's middle half▲ 6.8pp20.5%above the sector's middle half▲ 1.0pp5.7%within the sector's middle half▼ 14.8pp5.6%within the sector's middle half▼ 0.1pp
Staff (FTE)15.9within the sector's middle half▲ 33.6%14.2within the sector's middle half▼ 10.7%14within the sector's middle half▼ 1.4%14.6within the sector's middle half▲ 4.3%13.1above the sector's middle half▼ 10.3%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 17% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€874,687 ▲ 20.6%
Current assets
€3.3m ▲ 10.8%
Equity and liabilities €4.2m
Equity
€3.7m ▲ 4.7%
Debt
€456,943 ▲ 203%
Debt's share of the balance-sheet total rises from 4.1% to 11.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€472,994▲
2024 · €420,691
Cash flow
€425,327▲
2024 · €391,354
Quick ratio
7.09▼
2024 · 19.67
Debt to equity
0.12▲
2024 · 0.04
ROE
6.3%▲
2024 · 5.9%
Interest coverage
282.79▼
2024 · 612.72
Debt ≤ 1 year
€456,943▲
2024 · €150,232
Income taxes
€96,393▲
2024 · €68,845
Staff costs
€774,748▲
2024 · €757,969
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,231 | - |
| Remuneration, social security and pensions62 | €735,380 | €847,867 | €832,575 | €757,969 | €774,748 | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €166,412 | €132,821 | €121,138 | €181,203 | €193,128 | ▲ 6.6% |
| Other operating charges640/8 | €36,529 | €19,153 | €17,753 | €25,895 | €19,124 | ▼ 26.1% |
| Gross operating margin9900 | €1.3m | €2.0m | €2.0m | €1.2m | €1.3m | ▲ 5.2% |
| Operating profit (loss)9901 | €404,729 | €993,261 | €979,550 | €239,488 | €279,866 | ▲ 16.9% |
| Financial income75/76B | €38,492 | €31,601 | €67,813 | €40,195 | €50,399 | ▲ 25.4% |
| Recurring financial income75 | €38,492 | €31,601 | €67,813 | €40,195 | €50,399 | ▲ 25.4% |
| Financial charges65/66B | €2,765 | €23,046 | €1,190 | €687 | €1,673 | ▲ 144% |
| Recurring financial charges65 | €2,765 | €23,046 | €1,190 | €687 | €1,673 | ▲ 144% |
| Profit (loss) for the period before taxes9903 | €440,456 | €1.0m | €1.0m | €278,997 | €328,593 | ▲ 17.8% |
| Income taxes67/77 | €108,487 | €248,940 | €255,184 | €68,845 | €96,393 | ▲ 40.0% |
| Profit (loss) for the period9904 | €331,969 | €752,876 | €790,988 | €210,152 | €232,199 | ▲ 10.5% |
| Transfer from tax-exempt reserves789 | €4,215 | €4,215 | €4,215 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €336,184 | €757,091 | €795,203 | €210,152 | €232,199 | ▲ 10.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €3.9m | €3.9m | €3.7m | €4.2m | ▲ 12.8% |
| Fixed assets21/28 | €605,168 | €585,959 | €657,914 | €725,013 | €874,687 | ▲ 20.6% |
| Tangible fixed assets22/27 | €604,338 | €585,129 | €657,084 | €724,183 | €873,857 | ▲ 20.7% |
| Land and buildings22 | €459,942 | €420,209 | €380,477 | €340,744 | €460,832 | ▲ 35.2% |
| Plant, machinery and equipment23 | €47,788 | €101,635 | €95,227 | €72,940 | €197,442 | ▲ 171% |
| Furniture and vehicles24 | €83,892 | €56,433 | €121,217 | €263,483 | €180,999 | ▼ 31.3% |
| Other tangible fixed assets26 | €12,716 | €6,852 | €60,163 | €47,016 | €34,584 | ▼ 26.4% |
| Financial fixed assets28 | €830 | €830 | €830 | €830 | €830 | = |
| Current assets29/58 | €2.0m | €3.3m | €3.2m | €3.0m | €3.3m | ▲ 10.8% |
| Stocks and contracts in progress3 | €150,918 | €193,435 | €87,450 | €18,760 | €56,935 | ▲ 203% |
| Stocks30/36 | €150,918 | €193,435 | €87,450 | €18,760 | €56,935 | ▲ 203% |
| Amounts receivable within one year40/41 | €554,804 | €1.1m | €587,807 | €639,601 | €628,390 | ▼ 1.8% |
| Trade receivables40 | €463,372 | €1.0m | €453,879 | €480,258 | €532,452 | ▲ 10.9% |
| Other amounts receivable41 | €91,432 | €92,288 | €133,929 | €159,343 | €95,939 | ▼ 39.8% |
| Current investments50/53 | - | €979,771 | €1.5m | €1.7m | €1.4m | ▼ 15.7% |
| Cash at bank and in hand54/58 | €1.3m | €961,844 | €1.1m | €635,889 | €1.2m | ▲ 82.5% |
| Deferred charges and accrued income490/1 | €19,085 | €18,774 | €17,164 | €20,737 | €50,611 | ▲ 144% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €3.9m | €3.9m | €3.7m | €4.2m | ▲ 12.8% |
| Equity10/15 | €2.3m | €2.8m | €3.3m | €3.5m | €3.7m | ▲ 4.7% |
| Contributions10/11 | €18,600 | €18,600 | €63,600 | €63,600 | €63,600 | = |
| Capital10 | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €2.2m | €2.7m | €3.2m | €3.4m | €3.6m | ▲ 4.4% |
| Non-distributable reserves130/1 | €45,000 | €45,000 | - | - | - | - |
| Legal reserve130 | €45,000 | €45,000 | - | - | - | - |
| Tax-exempt reserves132 | €13,053 | €8,838 | €4,623 | €4,623 | €4,623 | = |
| Distributable reserves133 | €2.2m | €2.7m | €3.2m | €3.4m | €3.6m | ▲ 4.4% |
| Profit (loss) carried forward14 | €8,587 | €5,678 | €881 | €1,032 | €23,232 | ▲ 2,150% |
| Investment grants15 | €60,528 | €52,960 | €45,740 | €38,774 | €31,807 | ▼ 18.0% |
| Amounts payable17/49 | €304,655 | €1.1m | €520,596 | €150,599 | €456,943 | ▲ 203% |
| Amounts payable within one year42/48 | €303,164 | €1.0m | €510,908 | €150,232 | €456,943 | ▲ 204% |
| Trade debts44 | €11,249 | €182,767 | €69,289 | €55,215 | €107,012 | ▲ 93.8% |
| Suppliers440/4 | €11,249 | €182,767 | €69,289 | €55,215 | €107,012 | ▲ 93.8% |
| Advances received on contracts in progress46 | - | €481,069 | - | €25,000 | €203,489 | ▲ 714% |
| Taxes, remuneration and social security45 | €91,446 | €128,403 | €186,136 | €67,272 | €101,743 | ▲ 51.2% |
| Taxes450/3 | - | €30,000 | €94,000 | - | €30,716 | - |
| Remuneration and social security454/9 | €91,446 | €98,403 | €92,136 | €67,272 | €71,027 | ▲ 5.6% |
| Other amounts payable47/48 | €200,470 | €251,979 | €255,483 | €2,745 | €44,699 | ▲ 1,528% |
| Accrued charges and deferred income492/3 | €1,490 | €10,956 | €9,688 | €367 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €331,969 | €752,876 | €790,988 | €210,152 | €232,199 | ▲ 10.5% |
| + Depreciation and write-downs630 | €166,412 | €132,821 | €121,138 | €181,203 | €193,128 | ▲ 6.6% |
| Operating cash flow (approximation) | €498,381 | €885,697 | €912,126 | €391,354 | €425,327 | ▲ 8.7% |
| Investment in fixed assets (approximation) | - | -€113,612 | -€193,093 | -€248,302 | -€342,801 | ▼ 38.1% |
| Change in cash | - | -€328,604 | €91,586 | -€417,540 | €524,687 | ▲ 226% |
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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €210,152 ▼73.4%
Net result drops to €210,152, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 19.79
Current ratio from 6.28 to 19.79; short-term debt falls from €510,908 to €150,232.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €790,988 ▲5.1%
Net result €790,988, the highest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 5.32
Current ratio from 2.36 to 5.32; short-term debt falls from €805,960 to €333,678.
31-12
Financial
Equity above €2mEq €2.2m ▲11.7%
3 profitable years in a row build equity to €2.2m.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 9 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
Financial 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Morlanwelz · 1 establishment unit since 2004
Ground area
4,217 m²
Building footprint
1,469 m²
Volume, LiDAR
8,523 m³
2 parcels, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EURECayphas
since 20042.142.271.130
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55019B0965/00A000 | Wallonia | 3,417 m² | 1 · 1,370 m² | 7.1 m · 2 fl. |
| 56057A1023/00V003indicative | Wallonia | 800 m² | 1 · 99 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
5 categoriesEURECayphas SRL30236
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Of 3,981 companies in this sector we hold annual accounts for 2,144. 778 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded14-10-2004
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
43211General electrical installation work
27402Manufacture of electrical equipment
31002Manufacture of furniture
42220Construction of utility projects for electricity and telecommunications
43120Site preparation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0867839895
Registered
26-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.