EXCausa
ActiveSummary
EXCausa has been active since 2014 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags). The 2025 annual accounts show equity of €485k and a net result of €14k. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 88% of 175 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-5
Solvency100=
Growth52=
Track record84
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity ample (current ratio 6.42 against 4.54 in 2024; short-term debt: 15.5% and cash: 5.7% of total assets), and 15.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
84.5%
Return on assets
2.4%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% more bankruptcies
← 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
raises risk · Filed more than 90 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 01-06-2026, 121 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
121 d late
2024
486 d late
2023
852 d late
2022
1217 d late
2021
256 d late
2020
2 d early
2019
16 d early
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Late accounts filingStrikeout withdrawn
Checked, nothing found (1)
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 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€485k▲ 2.9%
2024 · €472k
Total assets
€575k▼ 5.0%
2024 · €605k
Net result
€14k▼ 64.2%
2024 · €38k
Working capital
€483k▲ 2.9%
2024 · €470k
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€147k▼ 60.3%€152k▲ 3.8%€98k▼ 36.0%€55k▼ 43.8%€18k▼ 67.0%
Net result€114k▼ 55.0%€111k▼ 2.2%€79k▼ 28.7%€38k▼ 52.4%€14k▼ 64.2%
Equity€244k▲ 87.6%€355k▲ 45.6%€434k▲ 22.3%€472k▲ 8.7%€485k▲ 2.9%
Total assets€663k▲ 29.1%€506k▼ 23.7%€591k▲ 16.9%€605k▲ 2.3%€575k▼ 5.0%
Debt€419k▲ 9.3%€151k▼ 64.0%€157k▲ 4.0%€133k▼ 15.4%€89k▼ 32.8%
Working capital€245k▲ 87.1%€355k▲ 44.8%€434k▲ 22.4%€470k▲ 8.2%€483k▲ 2.9%
Staff (FTE)1=1=2▲ 100%2=2=
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 67% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €575k
Fixed assets
€2k =
Current assets
€572k ▼ 5.0%
Equity and liabilities €575k
Equity
€485k ▲ 2.9%
Debt
€89k ▼ 32.8%
Debt's share of the balance-sheet total falls from 22.0% to 15.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18k▼
2024 · €55k
Cash flow
€14k▼
2024 · €38k
Current ratio
6.42▲
2024 · 4.54
Debt to equity
0.18▼
2024 · 0.28
ROE
2.8%▼
2024 · 8.0%
ROA
2.4%▼
2024 · 6.2%
Interest coverage
9.76▼
2024 · 22.38
Debt ≤ 1 year
€89k▼
2024 · €133k
Income taxes
€6k▼
2024 · €15k
Staff costs
€164k▲
2024 · €163k
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €50k | €55k | €137k | €163k | €164k | ▲ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €263 | €263 | €263 | €219 | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €8k | - |
| Other operating charges640/8 | €548 | €888 | €1k | €502 | €2k | ▲ 256% |
| Gross operating margin9900 | €198k | €208k | €236k | €219k | €192k | ▼ 12.4% |
| Operating profit (loss)9901 | €147k | €152k | €98k | €55k | €18k | ▼ 67.0% |
| Financial income75/76B | €9k | €0 | €12k | €0 | €4k | - |
| Recurring financial income75 | €9k | €0 | €12k | €0 | €4k | - |
| Financial charges65/66B | €50 | €58 | €523 | €2k | €2k | ▼ 24.6% |
| Recurring financial charges65 | €50 | €58 | €523 | €2k | €2k | ▼ 24.6% |
| Profit (loss) for the period before taxes9903 | €156k | €152k | €109k | €52k | €20k | ▼ 62.0% |
| Income taxes67/77 | €42k | €41k | €30k | €15k | €6k | ▼ 56.1% |
| Profit (loss) for the period9904 | €114k | €111k | €79k | €38k | €14k | ▼ 64.2% |
| Profit (loss) for the period to be appropriated9905 | €114k | €111k | €79k | €38k | €14k | ▼ 64.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €663k | €506k | €591k | €605k | €575k | ▼ 5.0% |
| Fixed assets21/28 | €744 | €481 | €219 | €2k | €2k | = |
| Tangible fixed assets22/27 | €744 | €481 | €219 | €0 | - | - |
| Plant, machinery and equipment23 | €744 | €481 | €219 | €0 | - | - |
| Financial fixed assets28 | - | - | - | €2k | €2k | = |
| Current assets29/58 | €662k | €505k | €591k | €602k | €572k | ▼ 5.0% |
| Amounts receivable after more than one year29 | - | - | - | €350k | €450k | ▲ 28.6% |
| Other amounts receivable291 | - | - | - | €350k | €450k | ▲ 28.6% |
| Amounts receivable within one year40/41 | €270k | €139k | €285k | €237k | €89k | ▼ 62.4% |
| Trade receivables40 | €205k | €133k | €285k | €237k | €89k | ▼ 62.5% |
| Other amounts receivable41 | €66k | €5k | €66 | €0 | €385 | - |
| Cash at bank and in hand54/58 | €392k | €367k | €305k | €15k | €33k | ▲ 111% |
| Deferred charges and accrued income490/1 | - | - | €245 | €178 | €636 | ▲ 256% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €663k | €506k | €591k | €605k | €575k | ▼ 5.0% |
| Equity10/15 | €244k | €355k | €434k | €472k | €485k | ▲ 2.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €225k | €336k | €416k | €453k | €467k | ▲ 3.0% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €223k | €334k | €414k | €451k | €465k | ▲ 3.0% |
| Amounts payable17/49 | €419k | €151k | €157k | €133k | €89k | ▼ 32.8% |
| Amounts payable within one year42/48 | €417k | €151k | €157k | €133k | €89k | ▼ 32.8% |
| Trade debts44 | €337k | €19k | €76k | €27k | €8k | ▼ 69.8% |
| Suppliers440/4 | €337k | €19k | €76k | €27k | €8k | ▼ 69.8% |
| Taxes, remuneration and social security45 | €57k | €107k | €57k | €81k | €55k | ▼ 32.8% |
| Taxes450/3 | €44k | €86k | €41k | €53k | €25k | ▼ 52.1% |
| Remuneration and social security454/9 | €12k | €22k | €16k | €29k | €29k | ▲ 2.9% |
| Other amounts payable47/48 | €24k | €24k | €24k | €24k | €26k | ▲ 8.8% |
| Accrued charges and deferred income492/3 | €2k | €168 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €114k | €111k | €79k | €38k | €14k | ▼ 64.2% |
| + Depreciation and write-downs630 | €263 | €263 | €263 | €219 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €114k | €111k | €80k | €38k | €14k | ▼ 64.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-2k | €0 | ▲ 100% |
| Change in cash | - | €-25k | €-61k | €-290k | €17k | ▲ 106% |
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
12-06
KBO administration
Strikeout withdrawn
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 121 days late
01-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 486 days late
01-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 852 days late
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 1217 days late
03-04
KBO administration
Late accounts filing
2025
30-06
Financial
Weakest financial yearnet €14k ▼64.2%
Net result drops to €14k, the lowest in the series.
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 256 days late
30-06
Financial
Liquidity doublescurrent ratio 3.35
Current ratio from 1.59 to 3.35; short-term debt falls from €417k to €151k.
2021
30-06
Financial
Equity above €200kEq €244k ▲87.6%
3 profitable years in a row build equity to €244k.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Highest result since 2019net €253k ▲8.6%
Operating result €369k, net result €253k, both a record.
Show earlier events
30-06
Financial
Equity above €100kEq €130k ▲68%
2 profitable years in a row build equity to €130k.
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Geel · 1 establishment unit since 2014
Ground area
8,543 m²
Building footprint
934 m²
Volume, LiDAR
5,150 m³
Parcel 13372A0951/00V030, Flanders · tallest building 13.8 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
EXCausa
since 20142.238.255.697
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13372A0951/00V030 | Flanders | 8,543 m² | 1 · 934 m² | 13.8 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGeel2.238.255.697
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Of 394 companies in sector 38110 we hold annual accounts for 203. 133 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 (pre-2019)
Founded01-08-2014
Fiscal year end30-06
Activities, NACEBEL 2025
38110Waste collection, recovery and disposal activities
46216Wholesale of agricultural produce and animal feed, general range
38330Waste collection, recovery and disposal activities
Scores and ratios are computed by Checked and are not a credit decision.