MOTORECO
ActiveMOTORECO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.14M and a net result of €797k. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 91% of 138 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity ample (current ratio 5.91 against 4.05 in 2023; short-term debt: 16.3% and cash: 18.8% of total assets), and 16.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 27
Relative position
BE, all sectors
reference
Sector 27
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
83.5%
Return on assets
31.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
34 d early
2022
31 d early
2021
24 d early
2020
29 d early
2019
29 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Turnover
€1.87M
EBIT margin
8.7%
Net result
€797k▲ 83.1%
2023 · €436k
2018: €102k
2019: €205k
2020: €361k
2021: €241k
2022: €408k
2023: €436k
2018 → 2024
Working capital
€2.06M▲ 57.8%
2023 · €1.30M
2018: €865k
2019: €720k
2020: €809k
2021: €941k
2022: €1.05M
2023: €1.30M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€847k-€988k▲ 16.7%€1.10M▲ 11.0%€1.34M▲ 22.7%€2.14M▲ 59.3%
Operating result€485k-€350k▼ 27.8%€594k▲ 69.6%€634k▲ 6.8%€1.14M▲ 80.2%
Net result€361k-€241k▼ 33.1%€408k▲ 69.1%€436k▲ 6.7%€797k▲ 83.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 80% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.56M
Fixed assets
€91k▲ 68.9%
Current assets
€2.47M▲ 43.0%
Equity and liabilities €2.56M
Equity
€2.14M▲ 59.3%
Debt
€422k▼ 3.8%
The debt ratio falls from 24.6% to 16.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.17M▲
2023 · €656k
Cash flow
€826k▲
2023 · €458k
Solvency
83.5%▲
2023 · 75.4%
Current ratio
5.91▲
2023 · 4.05
Quick ratio
5.86▲
2023 · 4.02
Debt / equity
0.20▼
2023 · 0.33
ROE
37.2%▲
2023 · 32.4%
ROA
31.1%▲
2023 · 24.4%
Interest coverage
963.23▲
2023 · 564.63
Debt
€422k▼
2023 · €439k
Debt ≤ 1 year
€419k▼
2023 · €428k
Debt > 1 year
€4k▼
2023 · €11k
Income taxes
€367k▲
2023 · €203k
Staff costs
€165k▲
2023 · €135k
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€1.78M€2.56M▲
Fixed assets21/28€54k€91k▲
Intangible fixed assets21€4k€8k▲
Tangible fixed assets22/27€49k€83k▲
Plant, machinery and equipment23€17k€49k▲
Furniture and vehicles24€7k€14k▲
Other tangible fixed assets26€25k€20k▼
Current assets29/58€1.73M€2.47M▲
Stocks and contracts in progress3€13k€23k▲
Stocks30/36€13k€23k▲
Amounts receivable within one year40/41€353k€632k▲
Trade receivables40€352k€632k▲
Other amounts receivable41€1k€105▼
Current investments50/53€745k€1.33M▲
Cash at bank and in hand54/58€612k€483k▼
Deferred charges and accrued income490/1€7k€6k▼
Equity and liabilities
Total equity and liabilities10/49€1.78M€2.56M▲
Equity10/15€1.34M€2.14M▲
Contributions10/11€36k€36k=
Reserves13€1.31M€2.10M▲
Tax-exempt reserves132€15k€15k=
Distributable reserves133€1.29M€2.09M▲
Profit (loss) carried forward14€672€1k▲
Amounts payable17/49€439k€422k▼
Amounts payable after more than one year17€11k€4k▼
Financial debts170/4€11k€4k▼
Amounts payable within one year42/48€428k€419k▼
Current portion of amounts payable after more than one year42€7k€8k▲
Trade debts44€78k€155k▲
Suppliers440/4€78k€155k▲
Taxes, remuneration and social security45€211k€255k▲
Taxes450/3€197k€235k▲
Remuneration and social security454/9€14k€21k▲
Other amounts payable47/48€131k€1k▼
Income statement
Code20232024
Remuneration, social security and pensions62€135k€165k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€29k▲
Other operating charges640/8€31k€9k▼
Gross operating margin9900€823k€1.35M▲
Operating profit (loss)9901€634k€1.14M▲
Financial income75/76B€5k€23k▲
Recurring financial income75€5k€23k▲
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€639k€1.16M▲
Income taxes67/77€203k€367k▲
Profit (loss) for the period9904€436k€797k▲
Profit (loss) for the period to be appropriated9905€436k€797k▲
Appropriation of the result
Profit (loss) to be appropriated9906€623k€798k▲
Profit (loss) brought forward from the previous period14P€187k€672▼
Transfer to equity691/2€435k€797k▲
To other reserves6921€435k€797k▲
Profit to be distributed694/7€187k-
Return on contributions (dividend)694€187k-
Social balance
Average headcount (FTE)90871.92.3▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €797k ▲83.1%
Operating result €1.14M, net result €797k, both a record.
31-12
Financial
Equity above €2MEq €2.14M ▲59.3%
7 profitable years in a row build equity to €2.14M.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €1MEq €1.10M ▲11%
5 profitable years in a row build equity to €1.10M.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2018
29-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waasmunster · 2 establishment units since 1998
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.
Heidestraat 139250 WaasmunsterGround area
5,456 m²
Building footprint
2,024 m²
Volume, LiDAR
13,388 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Heidestraat 13, 9250 Waasmunster
since 19982.085.611.054
NEW MOTORECO
since 19982.085.611.153
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0449/00C000 | Flanders | 3,980 m² | 1 · 1,897 m² | 8.1 m · 2 fl. |
| 42023B0238/00C000 | Flanders | 1,476 m² | 1 · 127 m² | 8.8 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 1,453 EUR awarded · 1,453 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 260 EUR | 260 EUR |
| 2024 | 1 | 1,193 EUR | 1,193 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
25490037CT2TK18FX635
Similar companies · same sector, comparable size
ELECTROVA
BE 0435.910.872
Oudenaarde · Eq €2.19M
AUTOMATION
BE 0403.101.811
Halle · Eq €2.03M
REMOTECH
BE 0753.865.489
Zwevegem · Eq €1.94M
Autrosystems
BE 0437.588.477
Merelbeke-Melle · Eq €1.93M
Traxial
BE 0736.646.605
Kortrijk · Eq €1.90M
Of 262 companies in sector 27110 we hold annual accounts for 173. 89 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-02-1998
Fiscal year end31-12
Activities, NACEBEL
27110Manufacture of electrical equipment
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
50200
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.