Checked.be
Active
BE 0651.678.563Private limited company
SOL-EX
Rue Gustave-Masset 60 ·5030 Gembloux, Belgium· 10 yrs active
Sector: Remediation activities and other waste management service activities
(39000)
Conclusion
SOL-EX has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €262k and a net result of €66k. Equity is growing by ~16% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €262k |
| Net result | €66k |
| Staff (FTE) | 7.7 |
| Active | 10 yrs |
Financial profile
90
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
100
Solvency
85
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2016, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€22k
estimate, not credit advice
Score history
78
2022
89
2023
81
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.65 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.65 (≥ 1.0)
+5
Leverage
Debt/equity 1.08 (< 2.0)
+3
Profitability
ROE 25% (≥ 10%)
+10
Interest coverage
Interest coverage 41.4× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 08-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~16%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
€133k
-10.8%
22-25
€66k
-3.2%
22-25
€109k
-12.0%
22-25
€550k
-7.9%
22-25
€262k
+13.6%
22-25
€148k
+52.4%
22-25
8
+18.5%
22-25
€481k
+13.3%
22-25
€21k
-2.9%
22-25
€35k
-4.1%
22-25
€282k
-22.5%
22-25
€230k
-21.9%
22-25
€51k
-26.1%
22-25
1.65
+23.6%
22-25
1.65
+23.6%
22-25
47.5%
+23.2%
22-25
1.08
-31.7%
22-25
25.3%
-14.8%
22-25
12.0%
+5.0%
22-25
41.40
+11.0%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €133k | €149k | €169k | €67k |
| Net profit | €66k | €68k | €84k | €16k |
| Cash flow | €109k | €124k | €143k | €57k |
| Staff costs | €481k | €425k | €471k | €314k |
| Income taxes | €21k | €22k | €23k | €8k |
| Dividends | €35k | €37k | €37k | €12k |
| Total assets | €550k | €597k | €582k | €477k |
| Equity | €262k | €230k | €198k | €151k |
| Debt | €282k | €363k | €380k | €326k |
| of which ≤ 1y | €230k | €294k | €268k | €244k |
| of which > 1y | €51k | €69k | €105k | €82k |
| Working capital | €148k | €97k | €54k | €49k |
| Employees (FTE) | 7.7 | 6.5 | 7.5 | 6.4 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.65 | 1.33 | 1.20 | 1.20 |
| Quick ratio | 1.65 | 1.33 | 1.20 | 1.20 |
| Working capital ratio | 27.0% | 16.3% | 9.3% | 10.3% |
| Solvency | 47.5% | 38.6% | 34.1% | 31.7% |
| Debt / equity | 1.08 | 1.58 | 1.92 | 2.16 |
| Long-term debt ratio | 0.19 | 0.30 | 0.53 | 0.54 |
| Interest coverage | 41.40 | 37.28 | 43.87 | 36.01 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 12.0% | 11.5% | 14.5% | 3.4% |
| ROE | 25.3% | 29.7% | 42.6% | 10.8% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €550k | €597k | €582k | €477k |
| Fixed assets | 21/28 | €172k | €205k | €260k | €185k |
| Tangible fixed assets | 22/27 | €171k | €205k | €260k | €185k |
| Financial fixed assets | 28 | €1k | - | - | - |
| Current assets | 29/58 | €378k | €392k | €322k | €293k |
| Amounts receivable within one year | 40/41 | €249k | €265k | €227k | €108k |
| Cash & bank | 54/58 | €119k | €114k | €81k | €172k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €550k | €597k | €582k | €477k |
| Equity | 10/15 | €262k | €230k | €198k | €151k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €241k | €210k | €178k | €131k |
| Provisions & deferred taxes | 16 | €7k | €4k | €4k | - |
| Amounts payable | 17/49 | €282k | €363k | €380k | €326k |
| Amounts payable after one year | 17 | €51k | €69k | €105k | €82k |
| Amounts payable within one year | 42/48 | €230k | €294k | €268k | €244k |
| Trade debts payable within one year | 44 | €58k | €82k | €60k | €59k |
| Income statement | |||||
| Gross operating margin | 9900 | €620k | €576k | €649k | €382k |
| Operating result | 9901 | €90k | €94k | €111k | €26k |
| Financial income | 75 | €70 | €136 | €1 | €786 |
| Financial charges | 65 | €3k | €4k | €4k | €2k |
| Result before taxes | 9903 | €87k | €90k | €107k | €25k |
| Income taxes | 67/77 | €21k | €22k | €23k | €8k |
| Net result for the period | 9904 | €66k | €68k | €84k | €16k |
| Result to be appropriated | 9905 | €66k | €68k | €84k | €16k |
Legal Structure
| NACE primary | Remediation activities and other waste management service activities(39000) |
| Legal form | Private limited company(610) |
| Incorporation | 06-04-2016 |
| Status | Active |
| Postal code | 5030 |
Establishment units
SOL-EX
since 20162.254.524.973
Updates
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €200kEq €230k ▲16.1%
3 profitable years in a row build equity to €230k.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2022net €84k ▲418%
Operating result €111k, net result €84k, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Remediation activities and other waste management service activities39000Other professional, scientific and technical activities74909Other professional, scientific and technical activities74999Specialised construction activities43130Business and other management consultancy70200Business consulting70220Engineering and related technical consultancy, excluding land surveyors71121
Names & trade names
| Legal nameFR | SOL-EX |
Similar companies
GreenX
BE 0674.744.767 · Heusden-Zolder
Van Hulle Recycling
BE 0846.496.630 · Deinze
CBN CLEANING
BE 0640.971.743 · Dilbeek
The Soil Research Lab
BE 0631.706.362 · Nivelles
TRADEVA
BE 0671.830.116 · Elsene