EXCECON
ActiveSummary
EXCECON has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €120,566 and a net result of €4,319. Equity is shrinking by ~17.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 47% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+17
Solvency63▼-30
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 3.1 in 2024; short-term debt: 59.9% and cash: 12.8% of total assets), and 62.4% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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 →
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
37.6%
Return on assets
1.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
21 d late
2024
22 d late
2023
18 d early
2022
32 d early
2021
39 d early
2020
30 d early
2019
31 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 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€120,566▼ 44.2%
2024 · €216,247
Total assets
€320,536▲ 0.6%
2024 · €318,548
Net result
€4,319▲ 134%
2024 · €1,845
Working capital
€83,749▼ 53.8%
2024 · €181,271
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€19,772-€14,930-€746▲ 95.0%€6,737€10,601▲ 57.3%
Net result€13,986-€20,383-€5,661▲ 72.2%€1,845€4,319▲ 134%
Equity€271,746▲ 5.4%€251,363▼ 7.5%€214,402▼ 14.7%€216,247▲ 0.9%€120,566▼ 44.2%
Total assets€374,177▼ 11.6%€344,673▼ 7.9%€298,862▼ 13.3%€318,548▲ 6.6%€320,536▲ 0.6%
Debt€102,430▼ 38.2%€93,310▼ 8.9%€84,460▼ 9.5%€102,300▲ 21.1%€199,970▲ 95.5%
Working capital€262,519▲ 5.3%€242,335▼ 7.7%€204,306▼ 15.7%€181,271▼ 11.3%€83,749▼ 53.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 57% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €320,536
Fixed assets
€44,631 ▼ 12.6%
Current assets
€275,905 ▲ 3.1%
Equity and liabilities €320,536
Equity
€120,566 ▼ 44.2%
Debt
€199,970 ▲ 95.5%
Debt's share of the balance-sheet total rises from 32.1% to 62.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€20,432▲
2024 · €8,644
Cash flow
€14,150▲
2024 · €3,753
Current ratio
1.44▼
2024 · 3.10
Quick ratio
1.17▼
2024 · 2.54
Debt to equity
1.66▲
2024 · 0.47
ROE
3.6%▲
2024 · 0.9%
ROA
1.3%▲
2024 · 0.6%
Interest coverage
2.99▲
2024 · 1.06
Debt ≤ 1 year
€192,156▲
2024 · €86,232
Debt > 1 year
€7,814▼
2024 · €16,068
Income taxes
€368▲
2024 · €5
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 16,986 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 | - | - | - | - | €207 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €278 | €200 | €261 | €1,907 | €9,832 | ▲ 415% |
| Other operating charges640/8 | €1,192 | €1,665 | €1,453 | €1,939 | €1,276 | ▼ 34.2% |
| Gross operating margin9900 | €21,242 | -€13,065 | €968 | €10,583 | €21,708 | ▲ 105% |
| Operating profit (loss)9901 | €19,772 | -€14,930 | -€746 | €6,737 | €10,601 | ▲ 57.3% |
| Financial income75/76B | €37 | €37 | €683 | €3,260 | €910 | ▼ 72.1% |
| Recurring financial income75 | €37 | €37 | €683 | €3,260 | €910 | ▼ 72.1% |
| Financial charges65/66B | €5,023 | €4,564 | €5,434 | €8,147 | €6,824 | ▼ 16.2% |
| Recurring financial charges65 | €5,023 | €4,564 | €5,434 | €8,147 | €6,824 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €14,786 | -€19,457 | -€5,498 | €1,850 | €4,687 | ▲ 153% |
| Income taxes67/77 | €800 | €927 | €164 | €5 | €368 | ▲ 7,478% |
| Profit (loss) for the period9904 | €13,986 | -€20,383 | -€5,661 | €1,845 | €4,319 | ▲ 134% |
| Profit (loss) for the period to be appropriated9905 | €13,986 | -€20,383 | -€5,661 | €1,845 | €4,319 | ▲ 134% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €374,177 | €344,673 | €298,862 | €318,548 | €320,536 | ▲ 0.6% |
| Fixed assets21/28 | €9,228 | €9,028 | €10,096 | €51,044 | €44,631 | ▼ 12.6% |
| Tangible fixed assets22/27 | €865 | €665 | €1,733 | €43,581 | €37,168 | ▼ 14.7% |
| Plant, machinery and equipment23 | €865 | €665 | €465 | €1,060 | €492 | ▼ 53.6% |
| Furniture and vehicles24 | - | - | €1,268 | €42,521 | €36,676 | ▼ 13.7% |
| Financial fixed assets28 | €8,363 | €8,363 | €8,363 | €7,463 | €7,463 | = |
| Current assets29/58 | €364,949 | €335,646 | €288,766 | €267,503 | €275,905 | ▲ 3.1% |
| Stocks and contracts in progress3 | €49,593 | €52,520 | €67,858 | €48,554 | €50,955 | ▲ 4.9% |
| Stocks30/36 | €49,593 | €52,520 | €67,858 | €48,554 | €50,955 | ▲ 4.9% |
| Amounts receivable within one year40/41 | €8,874 | €11,100 | €11,696 | €20,135 | €31,277 | ▲ 55.3% |
| Trade receivables40 | €8,874 | €11,100 | €11,355 | €18,721 | €23,047 | ▲ 23.1% |
| Other amounts receivable41 | - | - | €341 | €1,414 | €8,231 | ▲ 482% |
| Current investments50/53 | €750 | €750 | €150,930 | €152,833 | €152,067 | ▼ 0.5% |
| Cash at bank and in hand54/58 | €305,732 | €271,276 | €57,824 | €45,981 | €41,106 | ▼ 10.6% |
| Deferred charges and accrued income490/1 | - | - | €458 | - | €500 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €374,177 | €344,673 | €298,862 | €318,548 | €320,536 | ▲ 0.6% |
| Equity10/15 | €271,746 | €251,363 | €214,402 | €216,247 | €120,566 | ▼ 44.2% |
| Contributions10/11 | €85,000 | €85,000 | €85,000 | €85,000 | €85,000 | = |
| Reserves13 | €247,841 | €247,841 | €216,541 | €216,541 | €116,541 | ▼ 46.2% |
| Non-distributable reserves130/1 | €8,500 | €8,500 | - | - | - | - |
| Reserves not available under the articles1311 | €8,500 | €8,500 | - | - | - | - |
| Tax-exempt reserves132 | €648 | €648 | €648 | €648 | €648 | = |
| Distributable reserves133 | €238,693 | €238,693 | €215,893 | €215,893 | €115,893 | ▼ 46.3% |
| Profit (loss) carried forward14 | -€61,095 | -€81,478 | -€87,140 | -€85,294 | -€80,976 | ▲ 5.1% |
| Amounts payable17/49 | €102,430 | €93,310 | €84,460 | €102,300 | €199,970 | ▲ 95.5% |
| Amounts payable after more than one year17 | - | - | - | €16,068 | €7,814 | ▼ 51.4% |
| Financial debts170/4 | - | - | - | €16,068 | €7,814 | ▼ 51.4% |
| Amounts payable within one year42/48 | €102,430 | €93,310 | €84,460 | €86,232 | €192,156 | ▲ 123% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,982 | €8,254 | ▲ 3.4% |
| Trade debts44 | €1,983 | €0 | €4,274 | €2,231 | €12,265 | ▲ 450% |
| Suppliers440/4 | €1,983 | €0 | €4,274 | €2,231 | €12,265 | ▲ 450% |
| Taxes, remuneration and social security45 | €2,767 | €1,375 | €2,235 | €3,300 | €4,399 | ▲ 33.3% |
| Taxes450/3 | €2,767 | €1,375 | €2,235 | €3,300 | €4,399 | ▲ 33.3% |
| Other amounts payable47/48 | €97,680 | €91,935 | €77,950 | €72,720 | €167,238 | ▲ 130% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,986 | -€20,383 | -€5,661 | €1,845 | €4,319 | ▲ 134% |
| + Depreciation and write-downs630 | €278 | €200 | €261 | €1,907 | €9,832 | ▲ 415% |
| Operating cash flow (approximation) | €14,264 | -€20,183 | -€5,401 | €3,753 | €14,150 | ▲ 277% |
| Investment in fixed assets (approximation) | - | €0 | -€1,329 | -€42,856 | -€3,418 | ▲ 92.0% |
| Change in cash | - | -€34,456 | -€213,452 | -€11,843 | -€4,875 | ▲ 58.8% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
31-12
Financial
Back to profitnet €1,845
Net result €1,845 after 2 loss-making years.
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €13,986
Net result €13,986 after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Back to profitnet €215,393
Net result €215,393 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 5.02
Current ratio from 0.85 to 5.02; short-term debt falls from €99,276 to €94,060.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Dendermonde · 1 establishment unit since 1991
Ground area
928 m²
Building footprint
393 m²
Volume, LiDAR
1,874 m³
Parcel 42021D0402/00T000, Flanders · tallest building 11.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
EXCECON
since 19912.051.805.069
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42021D0402/00T000 | Flanders | 928 m² | 1 · 393 m² | 11.3 m · 1 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
Recognised contractor
5 categoriesEXCECON BV22595
Legal Entity Identifier
699400XE2JZSIJFNYK44
Similar companies · same sector, comparable size
KJL ELECTRONIC DESIGN
BE 0450.046.346
Haacht · Eq €119,845
BREEMES
BE 0832.263.760
Zonhoven · Eq €119,813
NCAB Group Belgium
BE 0437.112.484
Lommel · Eq €119,662
GOTTSCHALK INDUSTRIES
BE 0428.192.147
Jalhay · Eq €119,170
TO FIX
BE 0476.707.290
Antwerpen · Eq €119,157
Of 1,244 companies in sector 46643 we hold annual accounts for 953. 609 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
Founded04-02-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
43211General electrical installation work
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0443050270
Registered
07-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.