EXALCO
ActiveSummary
EXALCO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €233,197 and a net result of €46,436. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 63% of 11693 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83=
Solvency83▲+16
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity ample (current ratio 2.4 against 1.73 in 2024; short-term debt: 41.7% and cash: 36.4% of total assets), and 41.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
58.3%
Return on assets
11.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-09-2026, 41 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
41 d late
2024
24 d early
2023
50 d early
2022
56 d early
2021
30 d late
2020
1 d early
2019
63 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 on the deadline day; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 7 July (4 of the last 5 filed years within 54 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, micro schema
Equity
€233,197▼ 26.5%
2024 · €317,269
Total assets
€400,011▼ 46.8%
2024 · €752,597
Net result
€46,436▼ 45.0%
2024 · €84,452
Working capital
€233,161▼ 26.4%
2024 · €316,944
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 46, Wholesale trade, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€73,250-€4,144€5,908€112,328▲ 1,801%€71,424▼ 36.4%
Net result€53,655above the sector's middle half€7,561within the sector's middle half▼ 85.9%-€4,089within the sector's middle half€84,452above the sector's middle half€46,436above the sector's middle half▼ 45.0%
Equity€223,196above the sector's middle half▲ 31.6%€230,757above the sector's middle half▲ 3.4%€226,668above the sector's middle half▼ 1.8%€317,269above the sector's middle half▲ 40.0%€233,197above the sector's middle half▼ 26.5%
Total assets€355,203within the sector's middle half▲ 70.4%€281,875within the sector's middle half▼ 20.6%€246,980within the sector's middle half▼ 12.4%€752,597above the sector's middle half▲ 205%€400,011within the sector's middle half▼ 46.8%
Debt€132,007▲ 239%€51,119▼ 61.3%€20,312▼ 60.3%€435,327▲ 2,043%€166,814▼ 61.7%
Working capital€220,333above the sector's middle half▲ 30.6%€229,056above the sector's middle half▲ 4.0%€226,069above the sector's middle half▼ 1.3%€316,944above the sector's middle half▲ 40.2%€233,161above the sector's middle half▼ 26.4%
Solvency62.8%within the sector's middle half▼ 18.5pp81.9%above the sector's middle half▲ 19.0pp91.8%above the sector's middle half▲ 9.9pp42.2%within the sector's middle half▼ 49.6pp58.3%within the sector's middle half▲ 16.1pp
Current ratio2.67within the sector's middle half▼ 2.875.48above the sector's middle half▲ 2.8112.13above the sector's middle half▲ 6.651.73within the sector's middle half▼ 10.402.40within the sector's middle half▲ 0.67
Return on assets (ROA)15.1%above the sector's middle half▲ 22.6pp2.7%within the sector's middle half▼ 12.4pp-1.7%within the sector's middle half▼ 4.3pp11.2%within the sector's middle half▲ 12.9pp11.6%within the sector's middle half▲ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 36% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €400,011
Fixed assets
€36 ▼ 88.9%
Current assets
€399,975 ▼ 46.8%
Equity and liabilities €400,011
Equity
€233,197 ▼ 26.5%
Debt
€166,814 ▼ 61.7%
Debt's share of the balance-sheet total falls from 57.8% to 41.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€72,907▼
2024 · €112,600
Cash flow
€47,919▼
2024 · €84,724
Debt to equity
0.72▼
2024 · 1.37
ROE
19.9%▼
2024 · 26.6%
Interest coverage
21.97▲
2024 · 18.56
Debt ≤ 1 year
€166,814▼
2024 · €435,327
Income taxes
€21,670▼
2024 · €31,633
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 26,975 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,194 | €1,162 | €1,102 | €273 | €1,483 | ▲ 444% |
| Other operating charges640/8 | €371 | - | - | €50 | €7,500 | ▲ 14,900% |
| Non-recurring operating charges66A | - | €137 | - | - | - | - |
| Gross operating margin9900 | €74,815 | -€2,845 | €7,010 | €112,650 | €80,407 | ▼ 28.6% |
| Operating profit (loss)9901 | €73,250 | -€4,144 | €5,908 | €112,328 | €71,424 | ▼ 36.4% |
| Financial income75/76B | €624 | €21,999 | - | €9,823 | - | - |
| Recurring financial income75 | €624 | €21,999 | - | €9,823 | - | - |
| Financial charges65/66B | €2,670 | €4,801 | €9,774 | €6,066 | €3,318 | ▼ 45.3% |
| Recurring financial charges65 | €2,670 | €4,801 | €9,774 | €6,066 | €3,318 | ▼ 45.3% |
| Profit (loss) for the period before taxes9903 | €71,205 | €13,053 | -€3,866 | €116,085 | €68,106 | ▼ 41.3% |
| Income taxes67/77 | €17,550 | €5,493 | €223 | €31,633 | €21,670 | ▼ 31.5% |
| Profit (loss) for the period9904 | €53,655 | €7,561 | -€4,089 | €84,452 | €46,436 | ▼ 45.0% |
| Profit (loss) for the period to be appropriated9905 | €53,655 | €7,561 | -€4,089 | €84,452 | €46,436 | ▼ 45.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €355,203 | €281,875 | €246,980 | €752,597 | €400,011 | ▼ 46.8% |
| Fixed assets21/28 | €2,863 | €1,701 | €598 | €326 | €36 | ▼ 88.9% |
| Tangible fixed assets22/27 | €2,863 | €1,701 | €598 | €326 | €36 | ▼ 88.9% |
| Plant, machinery and equipment23 | €2,024 | €1,104 | €183 | €93 | - | - |
| Furniture and vehicles24 | €839 | €597 | €415 | €233 | €36 | ▼ 84.5% |
| Current assets29/58 | €352,340 | €280,175 | €246,381 | €752,271 | €399,975 | ▼ 46.8% |
| Stocks and contracts in progress3 | - | €8,495 | - | - | - | - |
| Stocks30/36 | - | €8,495 | - | - | - | - |
| Amounts receivable within one year40/41 | €132,525 | €22,013 | €15,546 | €143,116 | €254,234 | ▲ 77.6% |
| Trade receivables40 | €111,125 | €2,077 | €7,780 | €99,950 | €244,015 | ▲ 144% |
| Other amounts receivable41 | €21,400 | €19,936 | €7,766 | €43,166 | €10,219 | ▼ 76.3% |
| Cash at bank and in hand54/58 | €219,815 | €249,667 | €230,835 | €609,155 | €145,742 | ▼ 76.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €355,203 | €281,875 | €246,980 | €752,597 | €400,011 | ▼ 46.8% |
| Equity10/15 | €223,196 | €230,757 | €226,668 | €317,269 | €233,197 | ▼ 26.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €18,550 | €18,550 | = |
| Reserves13 | €167,363 | €218,357 | €214,268 | €298,719 | €214,647 | ▼ 28.1% |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | €165,508 | €216,502 | €212,413 | €296,864 | €212,792 | ▼ 28.3% |
| Profit (loss) carried forward14 | €43,433 | - | - | - | - | - |
| Amounts payable17/49 | €132,007 | €51,119 | €20,312 | €435,327 | €166,814 | ▼ 61.7% |
| Amounts payable within one year42/48 | €132,007 | €51,119 | €20,312 | €435,327 | €166,814 | ▼ 61.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €158,418 | - | - |
| Financial debts43 | - | €6,146 | €12,423 | €6,273 | - | - |
| Other loans439 | - | €6,146 | €12,423 | €6,273 | - | - |
| Trade debts44 | €101,088 | €21,913 | €2,173 | €239,003 | €128,908 | ▼ 46.1% |
| Suppliers440/4 | €101,088 | €21,913 | €2,173 | €239,003 | €128,908 | ▼ 46.1% |
| Taxes, remuneration and social security45 | €24,477 | €23,060 | €5,715 | €31,633 | €31,633 | = |
| Taxes450/3 | €24,477 | €23,060 | €5,715 | €31,633 | €31,633 | = |
| Other amounts payable47/48 | €6,442 | - | - | - | €6,273 | - |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,655 | €7,561 | -€4,089 | €84,452 | €46,436 | ▼ 45.0% |
| + Depreciation and write-downs630 | €1,194 | €1,162 | €1,102 | €273 | €1,483 | ▲ 444% |
| Operating cash flow (approximation) | €54,849 | €8,723 | -€2,987 | €84,724 | €47,919 | ▼ 43.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,193 | - |
| Change in cash | - | €29,852 | -€18,832 | €378,320 | -€463,413 | ▼ 222% |
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
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 41 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €84,452
Net result €84,452 after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 12.13
Current ratio from 5.48 to 12.13; short-term debt falls from €51,119 to €20,312.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 5.48
Current ratio from 2.67 to 5.48; short-term debt falls from €132,007 to €51,119.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €53,655
Net result €53,655 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €223,196 ▲31.6%
Equity rises from €169,541 to €223,196.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€15,623
Net result drops to -€15,623, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Liquidity doublescurrent ratio 5.54
Current ratio from 2.45 to 5.54; short-term debt falls from €130,947 to €37,153.
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
31-12
Financial
Equity above €150,000Eq €185,164 ▲26.9%
2 profitable years in a row build equity to €185,164.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Vorst · 1 establishment unit since 2017
Ground area
77 m²
Building footprint
55 m²
Volume, LiDAR
587 m³
Parcel 21382C0227/00R032, Brussels · tallest building 12.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
EXALCO
since 20172.264.989.491
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0227/00R032 | Brussels | 77 m² | 1 · 55 m² | 12.9 m · 4 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 805 companies in this sector we hold annual accounts for 566. 447 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
Founded07-06-2017
Fiscal year end31-12
Activities, NACEBEL 2025
46610Wholesale trade
46620Wholesale of machine tools
46649Wholesale of other machinery and equipment
68110Buying and selling of own real estate
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676601823
Registered
30-07-2025
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.