Summary
EUROREF 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 €892,117 and a net result of €526,313. Equity is shrinking by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 40% of 2409 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked 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.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 27-05-2026, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
46 d early
2023
43 d early
2022
23 d late
2021
16 d early
2020
34 d late
2019
68 d late
← 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 6 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#6 oldest company in Fleurus, Finance and insurance sector#10 company by total assets in Fleurus, Finance and insurance sector
Equity
€892,117▲ 5.2%
2024 · €847,901
Net result
€526,313▲ 1,654%
2024 · €30,009
Total assets
€1.8m▼ 13.4%
2024 · €2.1m
Solvency
49.5%▲ 8.8pp
2024 · 40.7%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€32,472▲ 109%€44,975▲ 38.5%-€893€40,523€74,668▲ 84.3%
Net result€31,289▲ 323%€37,066▲ 18.5%€1,761▼ 95.3%€30,009▲ 1,605%€526,313▲ 1,654%
Equity€1.6m▼ 12.7%€1.6m▲ 2.3%€1.6m▲ 0.1%€847,901▼ 47.9%€892,117▲ 5.2%
Total assets€2.5m▼ 8.2%€2.1m▼ 16.6%€2.0m▼ 3.5%€2.1m▲ 2.1%€1.8m▼ 13.4%
Debt€943,987▲ 0.3%€485,412▼ 48.6%€410,723▼ 15.4%€1.2m▲ 201%€910,778▼ 26.2%
Working capital€498,652▼ 29.1%-€92,736-€64,780▲ 30.1%-€819,478▼ 1,165%-€406,237▲ 50.4%
Solvency62.7%▼ 3.2pp77.0%▲ 14.3pp79.9%▲ 2.8pp40.7%▼ 39.2pp49.5%▲ 8.8pp
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 84% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.6m ▼ 1.6%
Current assets
€161,712 ▼ 61.1%
Equity and liabilities €1.8m
Equity
€892,117 ▲ 5.2%
Debt
€910,778 ▼ 26.2%
Debt's share of the balance-sheet total falls from 59.3% to 50.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
59.0%▲
2024 · 3.5%
ROA
29.2%▲
2024 · 1.4%
Debt ≤ 1 year
€567,950▼
2024 · €1.2m
Debt > 1 year
€342,829
Income taxes
€14,163▲
2024 · €11,640
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,196 | €26,196 | €26,196 | €26,196 | €26,196 | = |
| Other operating charges640/8 | €9,631 | €9,844 | €32,823 | €11,204 | €11,816 | ▲ 5.5% |
| Gross operating margin9900 | €68,298 | €81,015 | €58,126 | €77,923 | €112,680 | ▲ 44.6% |
| Operating profit (loss)9901 | €32,472 | €44,975 | -€893 | €40,523 | €74,668 | ▲ 84.3% |
| Financial income75/76B | €9,125 | €9,125 | €9,125 | €9,125 | €488,667 | ▲ 5,255% |
| Recurring financial income75 | €9,125 | €9,125 | €9,125 | €9,125 | €488,667 | ▲ 5,255% |
| Financial charges65/66B | €10,308 | €10,447 | €5,526 | €7,999 | €22,860 | ▲ 186% |
| Recurring financial charges65 | €10,308 | €10,447 | €5,526 | €7,999 | €22,860 | ▲ 186% |
| Profit (loss) for the period before taxes9903 | €31,289 | €43,652 | €2,706 | €41,649 | €540,476 | ▲ 1,198% |
| Income taxes67/77 | - | €6,586 | €946 | €11,640 | €14,163 | ▲ 21.7% |
| Profit (loss) for the period9904 | €31,289 | €37,066 | €1,761 | €30,009 | €526,313 | ▲ 1,654% |
| Profit (loss) for the period to be appropriated9905 | €31,289 | €37,066 | €1,761 | €30,009 | €526,313 | ▲ 1,654% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €2.1m | €2.0m | €2.1m | €1.8m | ▼ 13.4% |
| Fixed assets21/28 | €1.7m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 1.6% |
| Tangible fixed assets22/27 | €870,953 | €844,757 | €818,562 | €792,366 | €766,170 | ▼ 3.3% |
| Land and buildings22 | €870,953 | €844,757 | €818,562 | €792,366 | €766,170 | ▼ 3.3% |
| Financial fixed assets28 | €875,014 | €875,014 | €875,014 | €875,014 | €875,014 | = |
| Current assets29/58 | €787,989 | €392,675 | €345,943 | €415,475 | €161,712 | ▼ 61.1% |
| Amounts receivable after more than one year29 | €250,000 | €250,000 | €250,000 | - | - | - |
| Other amounts receivable291 | €250,000 | €250,000 | €250,000 | - | - | - |
| Amounts receivable within one year40/41 | €340,911 | €65,632 | €23,990 | €258,415 | €32,083 | ▼ 87.6% |
| Trade receivables40 | €237,952 | €41,105 | €3,237 | €8,034 | €32,083 | ▲ 299% |
| Other amounts receivable41 | €102,959 | €24,528 | €20,753 | €250,380 | - | - |
| Cash at bank and in hand54/58 | €169,702 | €77,043 | €71,953 | €157,061 | €129,629 | ▼ 17.5% |
| Deferred charges and accrued income490/1 | €27,375 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €2.1m | €2.0m | €2.1m | €1.8m | ▼ 13.4% |
| Equity10/15 | €1.6m | €1.6m | €1.6m | €847,901 | €892,117 | ▲ 5.2% |
| Contributions10/11 | €198,600 | €205,735 | €205,735 | €205,735 | €205,735 | = |
| Revaluation surpluses12 | €593,407 | €593,407 | €593,407 | €593,407 | €593,407 | = |
| Reserves13 | €100,885 | €93,750 | €93,750 | €18,750 | €18,750 | = |
| Non-distributable reserves130/1 | €7,135 | - | - | - | - | - |
| Reserves not available under the articles1311 | €7,135 | - | - | - | - | - |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | €75,000 | €75,000 | €75,000 | - | - | - |
| Profit (loss) carried forward14 | €697,076 | €734,143 | €735,903 | €30,009 | €74,225 | ▲ 147% |
| Amounts payable17/49 | €943,987 | €485,412 | €410,723 | €1.2m | €910,778 | ▼ 26.2% |
| Amounts payable after more than one year17 | €654,651 | - | - | - | €342,829 | - |
| Financial debts170/4 | - | - | - | - | €342,829 | - |
| Other amounts payable178/9 | €654,651 | - | - | - | - | - |
| Amounts payable within one year42/48 | €289,336 | €485,412 | €410,723 | €1.2m | €567,950 | ▼ 54.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €59,329 | - |
| Financial debts43 | - | €327,326 | €327,326 | €371,531 | €256,601 | ▼ 30.9% |
| Other loans439 | - | €327,326 | €327,326 | €371,531 | €256,601 | ▼ 30.9% |
| Trade debts44 | €26,774 | €60,691 | €75,932 | €38,446 | €23,500 | ▼ 38.9% |
| Suppliers440/4 | €26,774 | €60,691 | €75,932 | €38,446 | €23,500 | ▼ 38.9% |
| Taxes, remuneration and social security45 | €2,386 | €6,520 | €7,466 | €13,265 | €28,089 | ▲ 112% |
| Taxes450/3 | €2,386 | €6,520 | €7,466 | €13,265 | €28,089 | ▲ 112% |
| Other amounts payable47/48 | €260,177 | €90,875 | - | €811,712 | €200,430 | ▼ 75.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,289 | €37,066 | €1,761 | €30,009 | €526,313 | ▲ 1,654% |
| + Depreciation and write-downs630 | €26,196 | €26,196 | €26,196 | €26,196 | €26,196 | = |
| Operating cash flow (approximation) | €57,485 | €63,262 | €27,956 | €56,205 | €552,509 | ▲ 883% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€92,660 | -€5,090 | €85,108 | -€27,432 | ▼ 132% |
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
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €526,313 ▲1,654%
Operating result €74,668, net result €526,313, both a record.
15-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
03-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 34 days late
2020
31-12
Financial
Back to profitnet €7,402
Net result €7,402 after 2 loss-making years.
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
31-12
Financial
Weakest financial yearnet -€1,500
Net result drops to -€1,500, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 22 days late
2017
06-07
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.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Fleurus · 1 establishment unit since 2002
Ground area
5,752 m²
Building footprint
2,139 m²
Volume, LiDAR
12,794 m³
Parcel 52021C0318/00L005, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Fabriques(FL) 12, 6220 Fleurus
since 20022.094.573.062
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52021C0318/00L005 | Wallonia | 5,752 m² | 1 · 2,139 m² | 7.0 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 24,729 companies in sector 64210 we hold annual accounts for 19,771. 12,941 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
Founded17-12-2001
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
46900Non-specialised wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.