Equity
€904,984 ▼ 50.4%
E & S RECYCLING paid out €1.1m in dividends. That is 798% of the 2025 profit.
E & S RECYCLING
Lifetime
16 annual accounts with figures on one time axispeak €263,564 (2025)
€263,564
lowest -€2,782 (2011)
€131,606▲ 50.9%
peak €1.8m (2024)
€904,984▼ 50.4%
€7.1m▲ 643%
Board1 name since 2010
1 directorVANDEVOORDE Elias Maurice Maria
Owners3 names in the annual accounts
Documentsfilings and deeds
30-07-20261 day before the deadline
2025abbreviated format
Result from €87,213 to €131,606Dividend €1.1mEquity from €1.8m to €904,984Debts from €950,634 to €7.1mInvestments €5.1mCash from €83,997 to €217,732
Key points
from the 2025 annual accountsTurnover
≈ €620,000 estimated
The accounts state no turnover.
Debts
€7.1m 89% of the balance sheet
Financial debts 82%Suppliers 0%Taxes and wages 1%Other 18%
€5.2m of the debts are secured on the company's own assets. In 2021 that was €1.3m.
Liquidity
0.30 was 1.93 in 2024
Short-term debts rose from €138,672 to €1.3m.
Filings
16 annual accounts since 2010
The last five annual accounts were filed 1 to 23 days before the end of the period.
Position in the sector
€8.0m
Larger balance sheet than 91% of companies in waste collection and treatment. Sector median €2.0m · 259 companies.
Checked score
81
Excellent
Financially stronger than 33% of small companies in waste collection and treatment (NACE 38)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 200 companies (NACE 38, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.2%▲ +0.1 percentage points vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%▼ -0.2 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.3%▲ +0.2 percentage points vs 01-2026
03-2026: 0.4%▲ +0.1 percentage points vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.6%▲ +0.1 percentage points vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.7%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.4%▼ -0.3 percentage points vs 07-2026
09-2026: 0.4%● unchanged vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 change of registered office in 24 months
Liquidity: current ratio 0.30, cash €217,732
lowers risk
Size: total assets €8.0m
Figures for financial year 2025 (filed on 01-08-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 38, small). It does better than 14% of them on solvency, 60% on liquidity, 53% on profitability and 4% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit verdict
Credit of up to €70,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.3 (1.93 in 2024), below 1. Short-term debt is 16.1% and cash 2.7% of total assets. 88.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 258 sector peers (2025).
NBB · sector comparisonPosition among 258 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
23 days early
2023
21 days early
2022
11 days early
2021
16 days early
2020
18 days early
2019
18 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 15 days before the deadline. In the sector (NACE 38), the median for financial year 2024 was 8 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- SANEL RECYCLING 100%score 85equity €4.7m (2025) · 30-09-2023 annual accounts of SANEL RECYCLING
Shares in 1 company, SMITZ & CO
Board & ownershipRecent changes
Registered office moved within Eeklo
New registered office: Industrielaan 38, 9900 Eeklo · Previous registered office: Nieuwendorpe 53, 9900 Eeklo · General meeting of 10-12-2025 · Gazette deed
Change of role: VANDEVOORDE Elias Maurice Maria, from manager to director
“Het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen;alle verrichtingen met…” (deed in Dutch) · VANDEVOORDE Elias Maurice Maria holds all the shares · General meeting of 17-11-2023 · Gazette deed
Environmental permit granted
Bouwen of herbouwen, Verbouwen / Wijzigen Infrastructuur · Eeklo
Environmental permit granted
Bouwen of herbouwen · Eeklo
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| E & S RECYCLING Eeklo | €8.0m | €263,564 | 11.4% | - |
| SENERGHO Hooglede | €5.8m | €182,172 | 29.1% | 1.3 |
| BC Limoges Esneux | €3.4m | €378,540 | 19.6% | 2 |
| VINDEVOGEL INVEST Oudenaarde | €6.6m | €951,235 | 42.1% | - |
| WALLONIE RECYCLAGE Houffalize | €3.9m | €285,923 | 13.0% | - |
| Devagro Transport Waregem | €2.3m | €564,315 | 3.4% | 6.5 |
| BIO STERCO Hooglede | €1.5m | €270,432 | 17.4% | - |
These companies have the same main activity as E & S RECYCLING: waste collection, recovery and disposal activities (NACE 38330). They are comparable in size and age: total assets between €1.5m and €6.6m, founded between 2003 and 2010.
Official details
Source: KBO- Status
- Active since 08-01-2010Normal situation
- Activity
- Waste collection, recovery and disposal activitiesNACE 38330and 5 others
- Establishment unit
- 2.184.427.1329900 Eeklo, since 23-12-2009
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €8.0m▲ 187%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Companies linked to E & S RECYCLING
Parent and group
Insights on E & S RECYCLING
E & S RECYCLING files the abbreviated format. That format states no turnover. The gross margin rose from €1,082 in 2010 to €263,564 in 2025.
SANEL RECYCLING holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about E & S RECYCLING
- What is the company number of E & S RECYCLING?
- The company number of E & S RECYCLING is 0822.092.717. The VAT number is the same number with BE in front: BE 0822.092.717.
- Where is E & S RECYCLING based?
- The registered office is at Industrielaan 38, 9900 Eeklo.Company details
- What does E & S RECYCLING do?
- According to the KBO register, the main activity is waste collection, recovery and disposal activities (NACE 38330).
- What is the legal form of E & S RECYCLING?
- E & S RECYCLING is a private limited company (BV).
- When was E & S RECYCLING founded?
- E & S RECYCLING was founded on 08-01-2010.
- Is E & S RECYCLING still active?
- Yes, E & S RECYCLING is an active enterprise in the KBO register.
- What is the turnover of E & S RECYCLING?
- The turnover in financial year 2025 is ≈ €620,000. This figure is estimated from the gross margin of €263,564 and 2,275 comparable companies of the same size. It probably lies between €370,000 and €1.1m. It is a rough estimate. In financial year 2024 turnover was €151,971.Financials
- Is E & S RECYCLING profitable?
- In financial year 2025, E & S RECYCLING made a profit of €131,606.
- Where can I find the annual accounts of E & S RECYCLING?
- E & S RECYCLING filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of E & S RECYCLING due?
- E & S RECYCLING must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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