EXPELEC
ActiveEXPELEC has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €86k and a net result of €-1k. Equity is growing by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 15866 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency71▲+1
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 3.62 against 3.9 in 2023), but 68.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
31.1%
Return on assets
-0.5%
Age of the figures
20 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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
not confirmed
2024
61 d late
2023
61 d late
2022
60 d late
2021
31 d late
2020
111 d late
2019
90 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€86k▼ 1.7%
2023 · €87k
2018: €29k
2019: €49k
2020: €51k
2021: €75k
2022: €59k
2023: €87k
2018 → 2024
Total assets
€276k▼ 3.1%
2023 · €285k
2018: €86k
2019: €101k
2020: €114k
2021: €140k
2022: €278k
2023: €285k
2018 → 2024
Net result
€-1k
2023 · €28k
2018: €21k
2019: €27k
2020: €2k
2021: €25k
2022: €-16k
2023: €28k
2018 → 2024
Working capital
€82k▼ 4.3%
2023 · €86k
2018: €20k
2019: €38k
2020: €19k
2021: €52k
2022: €52k
2023: €86k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€51k-€75k▲ 48.7%€59k▼ 21.1%€87k▲ 46.7%€86k▼ 1.7%
Operating result€1k-€31k▲ 2,977%€-10k€43k€5k▼ 88.2%
Net result€2k-€25k▲ 1,464%€-16k€28k€-1k
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 2024; 2024 is 88% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €276k
Fixed assets
€163k▼ 4.0%
Current assets
€113k▼ 1.7%
Equity and liabilities €276k
Equity
€86k▼ 1.7%
Debt
€190k▼ 3.7%
The debt ratio falls from 69.4% to 68.9%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€18k▼
2023 · €56k
Cash flow
€12k▼
2023 · €41k
Solvency
31.1%▲
2023 · 30.6%
Current ratio
3.62▼
2023 · 3.90
Quick ratio
3.62▼
2023 · 3.90
Debt / equity
2.22▼
2023 · 2.27
ROE
-1.7%▼
2023 · 31.8%
ROA
-0.5%▼
2023 · 9.7%
Interest coverage
2.55▼
2023 · 6.58
Debt
€190k▼
2023 · €198k
Debt ≤ 1 year
€31k▲
2023 · €30k
Debt > 1 year
€158k▼
2023 · €165k
Income taxes
€2k▼
2023 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€285k€276k▼
Fixed assets21/28€170k€163k▼
Tangible fixed assets22/27€170k€163k▼
Land and buildings22€155k€151k▼
Furniture and vehicles24€3k€8k▲
Leasing and similar rights25€7k€889▼
Other tangible fixed assets26€4k€3k▼
Current assets29/58€115k€113k▼
Amounts receivable after more than one year29€50k€51k▲
Other amounts receivable291€50k€51k▲
Amounts receivable within one year40/41€45k€59k▲
Trade receivables40€15k€37k▲
Other amounts receivable41€31k€21k▼
Cash at bank and in hand54/58€20k€3k▼
Equity and liabilities
Total equity and liabilities10/49€285k€276k▼
Equity10/15€87k€86k▼
Contributions10/11€162k€162k=
Capital10€162k€162k=
Issued capital100€162k€162k=
Revaluation surpluses12€25k€25k=
Reserves13€3k€3k=
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Profit (loss) carried forward14€-103k€-105k▼
Amounts payable17/49€198k€190k▼
Amounts payable after more than one year17€165k€158k▼
Financial debts170/4€165k€158k▼
Amounts payable within one year42/48€30k€31k▲
Current portion of amounts payable after more than one year42€7k€7k▲
Financial debts43€13k€13k=
Credit institutions430/8€13k€13k=
Trade debts44-€584
Suppliers440/4-€584
Taxes, remuneration and social security45€10k€11k▲
Taxes450/3€10k€11k▲
Accrued charges and deferred income492/3€3k€1k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€13k▲
Other operating charges640/8€954€583▼
Gross operating margin9900€57k€19k▼
Operating profit (loss)9901€43k€5k▼
Financial income75/76B€178€2k▲
Recurring financial income75€178€2k▲
Financial charges65/66B€8k€7k▼
Recurring financial charges65€8k€7k▼
Profit (loss) for the period before taxes9903€35k€181▼
Income taxes67/77€7k€2k▼
Profit (loss) for the period9904€28k€-1k▼
Profit (loss) for the period to be appropriated9905€28k€-1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-103k€-105k▼
Profit (loss) brought forward from the previous period14P€-131k€-103k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Back to profitnet €28k
Net result €28k after one loss-making year.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Weakest financial yearnet €-16k ▼165%
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
19-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 111 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waterloo · 2 establishment units since 1997
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue des Coquelicots 31410 WaterlooGround area
1.1 ha
Building footprint
5,625 m²
Volume, LiDAR
33,945 m³
2 parcels, Wallonia · tallest building 15.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
EXPELEC
since 19972.042.992.917
Nous Coworking
since 20242.376.527.714
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25743G0163/00F000 | Wallonia | 1.1 ha | 1 · 5,428 m² | 15.3 m · 2 fl. |
| 25762H0270/00D000 | Wallonia | 808 m² | 1 · 197 m² | 7.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
D.U.A.
BE 0695.624.612
Machelen (Brab.) · Eq €86k
Bee-Charged
BE 0783.192.945
Ingelmunster · Eq €85k
TRIUM
BE 0456.441.814
Aarschot · Eq €87k
SENSOR PARTNERS
BE 0885.811.720
Sint-Pieters-Leeuw · Eq €87k
Handelsonderneming van Tendeloo
BE 0407.650.022
Herentals · Eq €87k
Of 1,238 companies in sector 46643 we hold annual accounts for 945. 546 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded23-03-1989
Fiscal year end31-12
Activities, NACEBEL
46643Wholesale of electrical equipment, including installation materials
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:nvo@xprgroup.com