SHAMROCK TECHNOLOGIES
ActiveSummary
SHAMROCK TECHNOLOGIES has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18.3m and a net result of €2.2m. Equity is growing by about 5% per year across the filed financial years. Its solvency ranks better than 66% of 317 sector peers (NACE 20, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
In the rankings
#2 company by equity in Tongeren-Borgloon, Manufacturing sector#4 company by total assets in Tongeren-Borgloon, Manufacturing sector#5 company by staff growth in Limburg, Chemicals sector
Turnover
€21.3m▲ 0.5%
2024 · €21.2m
EBIT margin
12.9%▲ 3.8pp
2024 · 9.1%
Net result
€2.2m▲ 63.7%
2024 · €1.4m
Working capital
€15.5m▼ 15.5%
2024 · €18.3m
Trend over the years
2022 to 2025, 5 financial years 2019 to 2025, 8 financial years
Multiple financial year ends fall in the same calendar year; an annual trend is not displayed.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€21.3m
2025
Operating result€2.7m
2025
Net result€2.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€28.7m
2025
Equity€18.3m
2025
Debt€10.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€15.5m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin12.9%
2025
Return on assets (ROA)7.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency63.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.68
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)26.5
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 20, Manufacture of chemicals and chemical products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420242025
Turnover€21.3m-€22.2m▲ 4.5%€22.1m▼ 0.7%€27.0m▲ 22.2%€27.9m▲ 3.6%€19.7m▼ 29.5%€21.2m-€21.3m▲ 0.5%
Operating result€3.6m-€2.7m▼ 24.7%€3.0m▲ 10.7%€4.9m▲ 62.4%€4.9m▲ 0.3%€0.9m▼ 82.5%€1.9m-€2.7m▲ 42.5%
Net result€2.5m-€1.9m▼ 25.6%€2.2mwithin the sector's middle half▲ 20.5%€3.9mabove the sector's middle half▲ 73.3%€3.3mabove the sector's middle half▼ 15.8%€0.6mwithin the sector's middle half▼ 80.8%€1.4mwithin the sector's middle half-€2.2mwithin the sector's middle half▲ 63.7%
EBIT margin17.1%-12.3%▼ 4.8pp13.7%▲ 1.4pp18.2%▲ 4.5pp17.7%▼ 0.6pp4.4%▼ 13.3pp9.1%-12.9%▲ 3.8pp
Equity€24.0m-€20.8m▼ 13.3%€23.0mwithin the sector's middle half▲ 10.5%€26.8mwithin the sector's middle half▲ 16.5%€30.0mwithin the sector's middle half▲ 12.0%€30.5mwithin the sector's middle half▲ 1.9%€22.6mwithin the sector's middle half-€18.3mwithin the sector's middle half▼ 18.9%
Total assets€27.6m-€25.8m▼ 6.4%€26.9mwithin the sector's middle half▲ 4.1%€34.1mwithin the sector's middle half▲ 26.8%€37.2mwithin the sector's middle half▲ 9.0%€34.0mwithin the sector's middle half▼ 8.5%€29.7mwithin the sector's middle half-€28.7mwithin the sector's middle half▼ 3.3%
Debt€3.6m-€5.0m▲ 39.3%€3.9m▼ 22.2%€7.3m▲ 87.3%€7.2m▼ 1.8%€3.5m▼ 51.7%€7.1m-€10.4m▲ 46.2%
Working capital€20.8m-€17.9m▼ 14.2%€20.2mabove the sector's middle half▲ 13.1%€24.0mabove the sector's middle half▲ 18.7%€25.5mabove the sector's middle half▲ 6.3%€26.6mabove the sector's middle half▲ 4.3%€18.3mabove the sector's middle half-€15.5mabove the sector's middle half▼ 15.5%
Solvency86.9%-80.5%▼ 6.4pp85.4%above the sector's middle half▲ 4.9pp78.5%above the sector's middle half▼ 6.9pp80.6%above the sector's middle half▲ 2.1pp89.8%above the sector's middle half▲ 9.1pp76.0%above the sector's middle half-63.8%within the sector's middle half▼ 12.3pp
Current ratio6.76-4.54▼ 2.226.15above the sector's middle half▲ 1.614.27above the sector's middle half▼ 1.894.56above the sector's middle half▲ 0.299.10above the sector's middle half▲ 4.543.58above the sector's middle half-2.68within the sector's middle half▼ 0.90
Return on assets (ROA)9.1%-7.2%▼ 1.9pp8.3%within the sector's middle half▲ 1.1pp11.4%above the sector's middle half▲ 3.1pp8.8%above the sector's middle half▼ 2.6pp1.8%within the sector's middle half▼ 7.0pp4.6%within the sector's middle half-7.8%within the sector's middle half▲ 3.2pp
Staff (FTE)23.2-24.2▲ 4.3%24.1within the sector's middle half▼ 0.4%21.1within the sector's middle half▼ 12.4%27.1within the sector's middle half▲ 28.4%29.6within the sector's middle half▲ 9.2%26.8within the sector's middle half-26.5within the sector's middle half▼ 1.1%
above
within
below
the middle half of NACE 20, Manufacture of chemicals and chemical products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2025 Net result +64% on 2024. The previous financial year ran 11 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28.7m
Fixed assets
€4.0m ▼ 5.4%
Current assets
€24.7m ▼ 3.0%
Equity and liabilities €28.7m
Equity
€18.3m ▼ 18.9%
Debt
€10.4m ▲ 46.2%
Debt's share of the balance-sheet total rises from 24.0% to 36.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€3.2m▲
2024 · €2.3m
Cash flow
€2.7m▲
2024 · €1.8m
Quick ratio
2.02▼
2024 · 2.31
Debt to equity
0.57▲
2024 · 0.31
ROE
12.2%▲
2024 · 6.0%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€9.2m▲
2024 · €7.1m
Income taxes
€740,000▲
2024 · €467,464
Staff costs
€2.5m▲
2024 · €2.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95.0%
still going
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,474 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 20,139 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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €30.5m | €27.6m | €18.4m | €22.4m | €19.3m | ▼ 13.9% |
| Turnover70 | €21.3m | €22.2m | €22.1m | €27.0m | €27.9m | €19.7m | €21.2m | €21.3m | ▲ 0.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €3.5m | -€0.3m | -€1.4m | €1.2m | -€2.0m | - |
| Other operating income74 | - | - | - | €0.04m | €0.04m | €0.06m | €0.08m | €0.05m | ▼ 35.4% |
| Operating charges60/66A | - | - | - | €25.6m | €22.7m | €17.5m | €20.5m | €16.6m | ▼ 19.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | €19.5m | €14.8m | €11.4m | €15.4m | €9.7m | ▼ 37.3% |
| Purchases600/8 | - | - | - | €20.2m | €20.6m | €8.4m | €14.6m | €8.8m | ▼ 40.0% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.7m | -€5.8m | €3.0m | €0.8m | €0.9m | ▲ 10.8% |
| Services and other goods61 | - | - | - | €3.4m | €4.9m | €2.8m | €2.4m | €3.9m | ▲ 63.4% |
| Remuneration, social security and pensions62 | - | - | - | €2.3m | €2.5m | €2.6m | €2.3m | €2.5m | ▲ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.4m | €0.4m | €0.3m | €0.4m | €0.5m | €0.4m | €0.4m | ▲ 11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.009m | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.03m | €0.03m | €0.04m | €0.03m | €0.04m | ▲ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | €0.1m | €0.2m | - | - | - |
| Operating profit (loss)9901 | €3.6m | €2.7m | €3.0m | €4.9m | €4.9m | €0.9m | €1.9m | €2.7m | ▲ 42.5% |
| Financial income75/76B | - | - | - | €0.3m | €0.7m | €0.4m | €0.3m | €0.5m | ▲ 78.0% |
| Recurring financial income75 | €0.1m | €0.1m | €0.3m | €0.3m | €0.7m | €0.4m | €0.3m | €0.5m | ▲ 78.0% |
| Income from current assets751 | - | - | - | - | - | €0.05m | €0.02m | €0 | ▼ 100% |
| Other financial income752/9 | - | - | - | €0.3m | €0.7m | €0.4m | €0.2m | €0.5m | ▲ 94.7% |
| Financial charges65/66B | - | - | - | €0.5m | €0.8m | €0.2m | €0.4m | €0.2m | ▼ 32.8% |
| Recurring financial charges65 | €0.2m | €0.2m | €0.3m | €0.5m | €0.8m | €0.2m | €0.4m | €0.2m | ▼ 32.8% |
| Debt charges650 | €0.02m | €0.03m | €0.04m | €0.09m | €0.04m | €0.006m | €0.007m | €0.007m | ▲ 3.0% |
| Other financial charges652/9 | - | - | - | €0.4m | €0.7m | €0.2m | €0.4m | €0.2m | ▼ 33.5% |
| Profit (loss) for the period before taxes9903 | €3.6m | €2.7m | €3.0m | €4.7m | €4.8m | €1.1m | €1.8m | €3.0m | ▲ 62.3% |
| Income taxes67/77 | €1.1m | €0.8m | €0.7m | €0.8m | €1.6m | €0.4m | €0.5m | €0.7m | ▲ 58.3% |
| Taxes670/3 | - | - | - | €0.8m | €1.6m | €0.4m | €0.5m | €0.7m | ▲ 58.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €235 | - | €0.007m | €0.001m | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €2.5m | €1.9m | €2.2m | €3.9m | €3.3m | €0.6m | €1.4m | €2.2m | ▲ 63.7% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €1.0m | €0.2m | €2.5m | ▲ 949% |
| Transfer to tax-exempt reserves689 | - | - | - | €1.5m | €2.0m | €0.4m | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €2.5m | €1.9m | €2.6m | €2.4m | €1.3m | €1.2m | €1.6m | €4.7m | ▲ 194% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €27.6m | €25.8m | €26.9m | €34.1m | €37.2m | €34.0m | €29.7m | €28.7m | ▼ 3.3% |
| Fixed assets21/28 | €3.2m | €2.9m | €2.8m | €2.8m | €4.5m | €4.1m | €4.2m | €4.0m | ▼ 5.4% |
| Intangible fixed assets21 | €0.007m | €0.004m | €0.002m | €0.001m | €79 | €0 | - | - | - |
| Tangible fixed assets22/27 | €3.2m | €2.9m | €2.8m | €2.8m | €4.5m | €4.1m | €4.2m | €4.0m | ▼ 5.3% |
| Land and buildings22 | - | - | - | €2.0m | €2.9m | €2.8m | €3.0m | €2.8m | ▼ 7.1% |
| Plant, machinery and equipment23 | - | - | - | €0.7m | €1.5m | €1.3m | €1.1m | €1.1m | ▼ 1.2% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.09m | €0.07m | €0.05m | €0.06m | ▲ 13.9% |
| Assets under construction and advance payments27 | - | - | - | - | €132 | €132 | €132 | €132 | = |
| Financial fixed assets28 | €0.006m | €0.004m | €0.004m | €0.004m | €0.03m | €0.004m | €0.004m | €122 | ▼ 97.1% |
| Other financial fixed assets284/8 | - | - | - | €0.004m | €0.03m | €0.004m | €0.004m | €122 | ▼ 97.1% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.004m | €0.03m | €0.004m | €0.004m | €122 | ▼ 97.1% |
| Current assets29/58 | €24.4m | €22.9m | €24.1m | €31.3m | €32.7m | €29.9m | €25.4m | €24.7m | ▼ 3.0% |
| Stocks and contracts in progress3 | €3.9m | €3.2m | €2.6m | €7.6m | €13.1m | €8.7m | €9.0m | €6.1m | ▼ 32.2% |
| Stocks30/36 | - | - | - | €7.6m | €13.1m | €8.7m | €9.0m | €6.1m | ▼ 32.2% |
| Raw materials and consumables30/31 | - | - | - | €2.2m | €6.8m | €4.4m | €3.1m | €2.2m | ▼ 29.1% |
| Work in progress32 | - | - | - | €3.7m | €3.4m | €2.0m | €3.2m | €1.1m | ▼ 63.8% |
| Goods purchased for resale34 | - | - | - | €1.6m | €3.0m | €2.3m | €2.8m | €2.8m | ▲ 0.4% |
| Amounts receivable within one year40/41 | €3.1m | €4.1m | €4.1m | €5.5m | €4.2m | €3.5m | €3.3m | €2.3m | ▼ 30.7% |
| Trade receivables40 | - | - | - | €4.9m | €3.5m | €2.8m | €3.0m | €2.1m | ▼ 30.4% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.7m | €0.7m | €0.3m | €0.2m | ▼ 34.2% |
| Cash at bank and in hand54/58 | €16.5m | €13.8m | €16.5m | €18.3m | €15.3m | €17.7m | €13.1m | €16.3m | ▲ 24.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.09m | €0.04m | €0.06m | €0.05m | ▼ 14.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €27.6m | €25.8m | €26.9m | €34.1m | €37.2m | €34.0m | €29.7m | €28.7m | ▼ 3.3% |
| Equity10/15 | €24.0m | €20.8m | €23.0m | €26.8m | €30.0m | €30.5m | €22.6m | €18.3m | ▼ 18.9% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | - | - | €0.2m | - |
| Reserves13 | €0.3m | €0.3m | €0.3m | €1.8m | €3.8m | €30.5m | €22.6m | €18.1m | ▼ 19.9% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €1.5m | €3.5m | €2.9m | €2.6m | €0.2m | ▼ 94.1% |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €27.7m | €19.9m | €17.9m | ▼ 10.1% |
| Profit (loss) carried forward14 | €23.4m | €20.2m | €22.4m | €24.7m | €25.9m | €0 | - | - | - |
| Investment grants15 | - | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Amounts payable17/49 | €3.6m | €5.0m | €3.9m | €7.3m | €7.2m | €3.5m | €7.1m | €10.4m | ▲ 46.2% |
| Amounts payable within one year42/48 | €3.6m | €5.0m | €3.9m | €7.3m | €7.2m | €3.3m | €7.1m | €9.2m | ▲ 29.5% |
| Trade debts44 | €3.2m | €4.6m | €3.6m | €6.7m | €6.2m | €2.7m | €6.7m | €2.1m | ▼ 68.8% |
| Suppliers440/4 | - | - | - | €6.7m | €6.2m | €2.7m | €6.7m | €2.1m | ▼ 68.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.4m | €0.5m | €0.3m | €0.6m | ▲ 93.6% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.3m | €0.08m | €0.4m | ▲ 327% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 10.7% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.6m | €0.06m | €0.1m | €6.5m | ▲ 5,859% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.05m | €0.2m | €0.001m | €1.2m | ▲ 140,024% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.5m | €1.9m | €2.2m | €3.9m | €3.3m | €0.6m | €1.4m | €2.2m | ▲ 63.7% |
| + Depreciation and write-downs630 | €0.4m | €0.4m | €0.4m | €0.3m | €0.4m | €0.5m | €0.4m | €0.4m | ▲ 11.2% |
| Operating cash flow (approximation) | €2.9m | €2.2m | €2.6m | €4.2m | €3.7m | €1.1m | €1.8m | €2.7m | ▲ 51.9% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.2m | -€0.3m | -€2.1m | -€0.08m | - | -€0.2m | - |
| Change in cash | - | -€2.7m | €2.8m | €1.7m | -€3.0m | €2.4m | - | €3.2m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 09-06-2026 | 2026-00149330 |
| 31-12-2024 | full format | 25-06-2025 | 2025-00209001 |
| 28-01-2024 | full format | 17-06-2024 | 2024-00150018 |
| 29-01-2023 | full format | 06-09-2023 | 2023-00440021 |
| 31-01-2022 | full format | 21-07-2022 | 2022-20215186 |
| 31-01-2021 | full format | 30-08-2021 | 2021-63800518 |
| 26-01-2020 | full format | 23-06-2020 | 2020-21600158 |
| 27-01-2019 | full format | 04-06-2019 | 2019-16200262 |
| 28-01-2018 | full format | 25-05-2018 | 2018-14500311 |
| 29-01-2017 | full format | 13-06-2017 | 2017-17000217 |
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Of the 233 active companies whose main activity is manufacture of chemicals and chemical products (NACE 20590), figures are known for 173. 96 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €17,556 awarded · €17,666 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €3,633 | €3,633 |
| 2024 | 2 | €5,700 | €5,700 |
| 2023 | 1 | €4,533 | €4,643 |
| 2022 | 1 | €3,690 | €3,690 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.