Summary
EXECO 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 €360,617 and a net result of €53,588. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 81% of 2992 sector peers (fiscal year 2025). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, micro schema
In the rankings
#4 oldest company in Tielt-Winge, Finance and insurance sector#8 company by equity in Tielt-Winge, Finance and insurance sector
Equity
€360,617▲ 8.7%
2024 · €331,811
Net result
€53,588▲ 14.2%
2024 · €46,928
Total assets
€439,510▲ 7.4%
2024 · €409,221
Solvency
82.0%▲ 1.0pp
2024 · 81.1%
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 13% above 2024 and is the highest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result€77,052
2025
Net result€53,588
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€439,510
2025
Equity€360,617
2025
Debt€22,742
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€240,985
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)12.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency82.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio11.60
2025
Point at or tap 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 66, Activities auxiliary to financial services and insurance activities, 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
Line20182019202020212022202320242025
Operating result€55,408-€35,555▼ 35.8%€64,562▲ 81.6%€58,342▼ 9.6%€23,232▼ 60.2%€49,145▲ 112%€68,340▲ 39.1%€77,052▲ 12.7%
Net result€38,696-€24,782▼ 36.0%€47,391within the sector's middle half▲ 91.2%€39,600within the sector's middle half▼ 16.4%€14,342within the sector's middle half▼ 63.8%€29,972within the sector's middle half▲ 109%€46,928within the sector's middle half▲ 56.6%€53,588within the sector's middle half▲ 14.2%
Equity€297,018-€321,800▲ 8.3%€369,191above the sector's middle half▲ 14.7%€340,621above the sector's middle half▼ 7.7%€330,098above the sector's middle half▼ 3.1%€341,470above the sector's middle half▲ 3.4%€331,811within the sector's middle half▼ 2.8%€360,617above the sector's middle half▲ 8.7%
Total assets€368,052-€384,796▲ 4.5%€443,582within the sector's middle half▲ 15.3%€414,273within the sector's middle half▼ 6.6%€400,732within the sector's middle half▼ 3.3%€406,085within the sector's middle half▲ 1.3%€409,221within the sector's middle half▲ 0.8%€439,510within the sector's middle half▲ 7.4%
Debt€14,883-€6,845▼ 54.0%€18,240▲ 166%€17,500▼ 4.1%€14,483▼ 17.2%€8,464▼ 41.6%€21,258▲ 151%€22,742▲ 7.0%
Working capital€134,873-€170,066▲ 26.1%€229,242above the sector's middle half▲ 34.8%€212,137above the sector's middle half▼ 7.5%€211,513above the sector's middle half▼ 0.3%€188,100above the sector's middle half▼ 11.1%€195,308above the sector's middle half▲ 3.8%€240,985above the sector's middle half▲ 23.4%
Solvency80.7%-83.6%▲ 2.9pp83.2%above the sector's middle half▼ 0.4pp82.2%above the sector's middle half▼ 1.0pp82.4%above the sector's middle half▲ 0.2pp84.1%above the sector's middle half▲ 1.7pp81.1%above the sector's middle half▼ 3.0pp82.0%above the sector's middle half▲ 1.0pp
Current ratio10.06-25.84▲ 15.7813.57above the sector's middle half▼ 12.2813.12above the sector's middle half▼ 0.4515.60above the sector's middle half▲ 2.4823.22above the sector's middle half▲ 7.6210.19above the sector's middle half▼ 13.0411.60above the sector's middle half▲ 1.41
Return on assets (ROA)10.5%-6.4%▼ 4.1pp10.7%within the sector's middle half▲ 4.2pp9.6%within the sector's middle half▼ 1.1pp3.6%within the sector's middle half▼ 6.0pp7.4%within the sector's middle half▲ 3.8pp11.5%within the sector's middle half▲ 4.1pp12.2%within the sector's middle half▲ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €439,510
Fixed assets
€175,784 ▼ 8.8%
Current assets
€263,726 ▲ 21.8%
Equity and liabilities €439,510
Equity
€360,617 ▲ 8.7%
Provisions
€56,151 =
Debt
€22,742 ▲ 7.0%
Debt's share of the balance-sheet total stays at 5.2%.
Key figures and ratios
ROE
14.9%▲
2024 · 14.1%
Debt ≤ 1 year
€22,742▲
2024 · €21,258
Income taxes
€23,626▲
2024 · €21,811
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,682 | €12,695 | €11,785 | €11,464 | €11,394 | €7,377 | €16,867 | €16,870 | = |
| Other operating charges640/8 | - | - | - | €168 | - | €1,416 | - | - | - |
| Gross operating margin9900 | €68,961 | €48,812 | €76,459 | €69,974 | €34,626 | €57,938 | €85,207 | €93,923 | ▲ 10.2% |
| Operating profit (loss)9901 | €55,408 | €35,555 | €64,562 | €58,342 | €23,232 | €49,145 | €68,340 | €77,052 | ▲ 12.7% |
| Financial income75/76B | - | - | - | - | €0 | €335 | €483 | €783 | ▲ 62.1% |
| Recurring financial income75 | €144 | €7 | €747 | - | €0 | €335 | €483 | €783 | ▲ 62.1% |
| Financial charges65/66B | - | - | - | €230 | €39 | €44 | €83 | €622 | ▲ 646% |
| Recurring financial charges65 | €707 | €335 | €305 | €230 | €39 | €44 | €83 | €622 | ▲ 646% |
| Profit (loss) for the period before taxes9903 | €54,845 | €35,228 | €65,004 | €58,112 | €23,193 | €49,435 | €68,740 | €77,214 | ▲ 12.3% |
| Income taxes67/77 | €16,149 | €10,446 | €17,613 | €18,512 | €8,852 | €19,463 | €21,811 | €23,626 | ▲ 8.3% |
| Profit (loss) for the period9904 | €38,696 | €24,782 | €47,391 | €39,600 | €14,342 | €29,972 | €46,928 | €53,588 | ▲ 14.2% |
| Profit (loss) for the period to be appropriated9905 | €38,696 | €24,782 | €47,391 | €39,600 | €14,342 | €29,972 | €46,928 | €53,588 | ▲ 14.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €368,052 | €384,796 | €443,582 | €414,273 | €400,732 | €406,085 | €409,221 | €439,510 | ▲ 7.4% |
| Fixed assets21/28 | €218,297 | €207,886 | €196,100 | €184,636 | €174,736 | €209,521 | €192,655 | €175,784 | ▼ 8.8% |
| Tangible fixed assets22/27 | €218,297 | €207,886 | €196,100 | €184,636 | €174,736 | €209,521 | €192,655 | €175,784 | ▼ 8.8% |
| Land and buildings22 | - | - | - | €179,448 | €173,530 | €167,611 | €161,692 | €155,773 | ▼ 3.7% |
| Plant, machinery and equipment23 | - | - | - | - | - | €873 | €439 | - | - |
| Furniture and vehicles24 | - | - | - | €5,188 | €1,207 | €41,037 | €30,524 | €20,011 | ▼ 34.4% |
| Current assets29/58 | €149,755 | €176,911 | €247,482 | €229,636 | €225,995 | €196,563 | €216,567 | €263,726 | ▲ 21.8% |
| Amounts receivable within one year40/41 | €17,077 | €48,095 | €100,129 | €71,834 | €90,076 | €117,229 | €108,152 | €109,645 | ▲ 1.4% |
| Trade receivables40 | - | - | - | €8,155 | €7,046 | €6,010 | €8,043 | €5,183 | ▼ 35.6% |
| Other amounts receivable41 | - | - | - | €63,679 | €83,030 | €111,218 | €100,110 | €104,462 | ▲ 4.3% |
| Cash at bank and in hand54/58 | €132,678 | €128,815 | €147,353 | €157,802 | €135,920 | €79,335 | €108,414 | €154,081 | ▲ 42.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €368,052 | €384,796 | €443,582 | €414,273 | €400,732 | €406,085 | €409,221 | €439,510 | ▲ 7.4% |
| Equity10/15 | €297,018 | €321,800 | €369,191 | €340,621 | €330,098 | €341,470 | €331,811 | €360,617 | ▲ 8.7% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €278,418 | €303,200 | €350,591 | €322,021 | €311,498 | €341,470 | €331,811 | €360,617 | ▲ 8.7% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €320,161 | €309,638 | €339,610 | €329,951 | €358,757 | ▲ 8.7% |
| Provisions and deferred taxes16 | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | = |
| Pensions and similar obligations160 | - | - | - | €56,151 | €56,151 | €56,151 | €56,151 | €56,151 | = |
| Amounts payable17/49 | €14,883 | €6,845 | €18,240 | €17,500 | €14,483 | €8,464 | €21,258 | €22,742 | ▲ 7.0% |
| Amounts payable within one year42/48 | €14,883 | €6,845 | €18,240 | €17,500 | €14,483 | €8,464 | €21,258 | €22,742 | ▲ 7.0% |
| Trade debts44 | €8,743 | €3,869 | €2,539 | €1,675 | €304 | €564 | €233 | €7,609 | ▲ 3,166% |
| Suppliers440/4 | - | - | - | €1,675 | €304 | €564 | €233 | €7,609 | ▲ 3,166% |
| Taxes, remuneration and social security45 | - | - | - | €15,825 | €14,179 | €7,900 | €21,025 | €15,132 | ▼ 28.0% |
| Taxes450/3 | - | - | - | €15,825 | €14,179 | €7,900 | €21,025 | €15,132 | ▼ 28.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,696 | €24,782 | €47,391 | €39,600 | €14,342 | €29,972 | €46,928 | €53,588 | ▲ 14.2% |
| + Depreciation and write-downs630 | €12,682 | €12,695 | €11,785 | €11,464 | €11,394 | €7,377 | €16,867 | €16,870 | = |
| Operating cash flow (approximation) | €51,378 | €37,477 | €59,176 | €51,064 | €25,736 | €37,349 | €63,795 | €70,458 | ▲ 10.4% |
| Investment in fixed assets (approximation) | - | -€2,284 | €0 | €0 | -€1,494 | -€42,162 | €0 | €0 | - |
| Change in cash | - | -€3,863 | €18,537 | €10,449 | -€21,882 | -€56,585 | €29,080 | €45,667 | ▲ 57.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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