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SOLAREC

Active
Public limited companyfounded 199035 yrs activeRecogne,Rue de Saint-Hubert 75, 6800 Libramont-Chevigny, BelgiumKBO/BCE: BE 0442.442.140
Summary

SOLAREC has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89.0m and a net result of €1.7m. Equity is growing by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability53▼-6
Solvency51▲+1
Growth73▼-1
Track record100
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 1.52 against 1.78 in 2024; short-term debt: 36.7% and cash: 3.1% of total assets), but 73.9% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
26.1%
Return on assets
0.5%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 35 years 0 40 y
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
3 d early
2024
35 d early
2023
42 d early
2022
17 d early
2021
32 d early
2020
50 d early
2019
35 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 31 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

SOLAREC was incorporated on 31 December 1990.1 Revenue grew from EUR 509 million in 2018 to EUR 943 million in 2025 and headcount from 205 to 401 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€943.3m▲ 2.9%
2024 · €916.7m
EBIT margin
0.8%▼ 0.5pp
2024 · 1.4%
Net result
€1.7m▼ 74.7%
2024 · €6.9m
Working capital
€65.0m▼ 28.6%
2024 · €91.1m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€648.0m▲ 14.8%€999.9m▲ 54.3%€834.8m▼ 16.5%€916.7m▲ 9.8%€943.3m▲ 2.9%
Operating result€5.8m▲ 139%€9.1m▲ 56.0%€7.8m▼ 13.7%€12.7m▲ 62.7%€8.0m▼ 37.4%
Net result€2.2mabove the sector's middle half▲ 9.4%€5.1mabove the sector's middle half▲ 134%€2.2mabove the sector's middle half▼ 56.4%€6.9mabove the sector's middle half▲ 208%€1.7mabove the sector's middle half▼ 74.7%
EBIT margin0.9%▲ 0.5pp0.9%=0.9%=1.4%▲ 0.5pp0.8%▼ 0.5pp
Equity€58.6mabove the sector's middle half▲ 46.5%€63.5mabove the sector's middle half▲ 8.3%€80.5mabove the sector's middle half▲ 26.8%€87.6mabove the sector's middle half▲ 8.7%€89.0mabove the sector's middle half▲ 1.6%
Total assets€317.5mabove the sector's middle half▲ 41.3%€374.0mabove the sector's middle half▲ 17.8%€339.9mabove the sector's middle half▼ 9.1%€343.9mabove the sector's middle half▲ 1.2%€340.4mabove the sector's middle half▼ 1.0%
Debt€258.8m▲ 40.3%€310.4m▲ 20.0%€259.4m▼ 16.4%€256.4m▼ 1.2%€251.4m▼ 1.9%
Working capital€37.2m▲ 184%€60.6m▲ 62.8%€78.2m▲ 29.1%€91.1m▲ 16.4%€65.0m▼ 28.6%
Solvency18.5%below the sector's middle half▲ 0.7pp17.0%below the sector's middle half▼ 1.5pp23.7%within the sector's middle half▲ 6.7pp25.5%within the sector's middle half▲ 1.8pp26.1%within the sector's middle half▲ 0.7pp
Staff (FTE)260.3above the sector's middle half▲ 8.5%285.3above the sector's middle half▲ 9.6%368above the sector's middle half▲ 29.0%386above the sector's middle half▲ 4.9%401.2above the sector's middle half▲ 3.9%
above within below the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
€0€5.0m€10.0m€15.0mOperating result 2021: €5.8m€5.8mNet result 2021: €2.2m€2.2mOperating result 2022: €9.1m€9.1mNet result 2022: €5.1m€5.1mOperating result 2023: €7.8m€7.8mNet result 2023: €2.2m€2.2mOperating result 2024: €12.7m€12.7mNet result 2024: €6.9m€6.9mOperating result 2025: €8.0m€8.0mNet result 2025: €1.7m€1.7m20212022202320242025€0€5m€10m€15mOperating result 2023: €7.8m€7.8mNet result 2023: €2.2m€2.2mOperating result 2024: €12.7m€13mNet result 2024: €6.9m€6.9mOperating result 2025: €8.0m€8mNet result 2025: €1.7m€1.7m202320242025
The operating result falls in 2025; 2025 is 37% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €340.4m
Fixed assets €150.6m ▲ 10.6%
Current assets €189.8m ▼ 8.6%
Equity and liabilities €340.4m
Equity €89.0m ▲ 1.6%
Debt €251.4m ▼ 1.9%
Debt's share of the balance-sheet total falls from 74.5% to 73.9%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€26.4m▼
2024 · €31.7m
Cash flow
€20.2m▼
2024 · €25.9m
Current ratio
1.52▼
2024 · 1.78
Quick ratio
0.95▼
2024 · 1.20
Debt to equity
2.82▼
2024 · 2.93
ROE
1.9%▼
2024 · 7.8%
ROA
0.5%▼
2024 · 2.0%
Interest coverage
5.30▼
2024 · 6.41
Debt ≤ 1 year
€124.8m▲
2024 · €116.7m
Debt > 1 year
€126.5m▼
2024 · €139.6m
Income taxes
€551,139▼
2024 · €2.1m
Staff costs
€33.5m▲
2024 · €31.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 179 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 98% are still going.

  • Large
  • 20 years or older
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.7% went bankrupt
0.6% stopped otherwise
98% still going

For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 179 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 101 lines
Balance sheet Code20242025
Assets
Total assets20/58€343.9m€340.4m▼
Fixed assets21/28€136.2m€150.6m▲
Intangible fixed assets21€2.3m€2.2m▼
Tangible fixed assets22/27€133.3m€135.4m▲
Land and buildings22€33.2m€32.1m▼
Plant, machinery and equipment23€54.7m€48.6m▼
Furniture and vehicles24€199,471€75,789▼
Leasing and similar rights25€39.4m€35.2m▼
Other tangible fixed assets26€3.8m€2.9m▼
Assets under construction and advance payments27€2.1m€16.5m▲
Financial fixed assets28€532,340€13.0m▲
Affiliated companies280/1-€269,743
Participating interests280-€269,743
Companies linked by participating interests282/3€300,493€12.5m▲
Participating interests282€300,493€12.5m▲
Other financial fixed assets284/8€231,847€235,357▲
Amounts receivable and cash guarantees285/8€231,847€235,357▲
Current assets29/58€207.8m€189.8m▼
Amounts receivable after more than one year29€772,972€772,972=
Trade receivables290€772,972€772,972=
Stocks and contracts in progress3€67.3m€71.6m▲
Stocks30/36€67.3m€71.6m▲
Raw materials and consumables30/31€15.1m€16.6m▲
Finished goods33€52.2m€55.0m▲
Amounts receivable within one year40/41€113.8m€99.2m▼
Trade receivables40€105.5m€84.1m▼
Other amounts receivable41€8.3m€15.1m▲
Current investments50/53€5.0m€7.0m▲
Other investments51/53€5.0m€7.0m▲
Cash at bank and in hand54/58€20.8m€10.7m▼
Deferred charges and accrued income490/1€80,622€512,349▲
Equity and liabilities
Total equity and liabilities10/49€343.9m€340.4m▼
Equity10/15€87.6m€89.0m▲
Contributions10/11€56.0m€56.0m=
Capital10€16.3m€16.3m=
Issued capital100€16.3m€16.3m=
Outside capital11€39.6m€39.6m=
Share premium1100/10€39.6m€39.6m=
Reserves13€27.6m€29.4m▲
Non-distributable reserves130/1€1.4m€1.5m▲
Legal reserve130€1.4m€1.5m▲
Tax-exempt reserves132€6.2m€6.3m▲
Distributable reserves133€20.1m€21.6m▲
Profit (loss) carried forward14€1.4m€1.4m=
Investment grants15€2.6m€2.3m▼
Amounts payable17/49€256.4m€251.4m▼
Amounts payable after more than one year17€139.6m€126.5m▼
Financial debts170/4€100.8m€87.7m▼
Leasing and similar obligations172€22.5m€22.1m▼
Credit institutions173€60.6m€65.6m▲
Other loans174€17.7m-
Other amounts payable178/9€38.8m€38.8m=
Amounts payable within one year42/48€116.7m€124.8m▲
Current portion of amounts payable after more than one year42€17.0m€30.5m▲
Trade debts44€94.8m€89.0m▼
Suppliers440/4€83.6m€82.1m▼
Bills of exchange payable441€11.1m€6.9m▼
Taxes, remuneration and social security45€4.9m€4.3m▼
Taxes450/3€979,381€342,413▼
Remuneration and social security454/9€3.9m€3.9m=
Other amounts payable47/48€100,000€1.1m▲
Accrued charges and deferred income492/3€41,581€73,143▲
Income statement Code20242025
Operating income70/76A€916.6m€951.0m▲
Turnover70€916.7m€943.3m▲
Change in stocks of work in progress, finished goods and contracts in progress71-€5.8m€2.8m▲
Other operating income74€4.9m€4.7m▼
Non-recurring operating income76A€839,666€239,252▼
Operating charges60/66A€903.8m€943.1m▲
Goods for resale, raw materials and consumables60€786.2m€828.5m▲
Purchases600/8€787.1m€830.6m▲
Change in stocks: decrease (increase)609-€977,480-€2.0m▼
Services and other goods61€64.3m€59.3m▼
Remuneration, social security and pensions62€31.1m€33.5m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19.0m€18.5m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€750,091€616,630▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€1.9m€2.0m▲
Other operating charges640/8€646,944€702,470▲
Non-recurring operating charges66A€8,819€14,683▲
Operating profit (loss)9901€12.7m€8.0m▼
Financial income75/76B€1.6m€2.4m▲
Recurring financial income75€1.6m€2.4m▲
Income from current assets751€334,254€769,456▲
Other financial income752/9€1.3m€1.6m▲
Financial charges65/66B€5.4m€8.1m▲
Recurring financial charges65€5.4m€8.1m▲
Debt charges650€5.0m€5.0m▲
Other financial charges652/9€451,328€3.1m▲
Profit (loss) for the period before taxes9903€8.9m€2.3m▼
Income taxes67/77€2.1m€551,139▼
Taxes670/3€2.1m€1.2m▼
Tax adjustments and reversals of tax provisions77€67€690,000▲
Profit (loss) for the period9904€6.9m€1.7m▼
Transfer from tax-exempt reserves789-€2.1m
Transfer to tax-exempt reserves689€997,770€1.6m▲
Profit (loss) for the period to be appropriated9905€5.9m€2.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€7.2m€3.6m▼
Profit (loss) brought forward from the previous period14P€1.4m€1.4m=
Transfer to equity691/2€5.9m€2.2m▼
To the legal reserve6920-€115,697
To other reserves6921€5.9m€2.1m▼
Social balance
Average headcount (FTE)9087386.0401.2▲

The notes to these accounts (110 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€663.5m€1.03bn€835.1m€916.6m€951.0m▲ 3.8%
Turnover70€648.0m€999.9m€834.8m€916.7m€943.3m▲ 2.9%
Change in stocks of work in progress, finished goods and contracts in progress71€10.5m€23.4m-€6.8m-€5.8m€2.8m▲ 148%
Other operating income74€5.1m€4.3m€6.6m€4.9m€4.7m▼ 3.6%
Non-recurring operating income76A-€21,577€453,771€839,666€239,252▼ 71.5%
Operating charges60/66A€657.7m€1.02bn€827.2m€903.8m€943.1m▲ 4.3%
Goods for resale, raw materials and consumables60€590.5m€925.2m€724.9m€786.2m€828.5m▲ 5.4%
Purchases600/8€593.1m€928.5m€727.1m€787.1m€830.6m▲ 5.5%
Change in stocks: decrease (increase)609-€2.6m-€3.3m-€2.2m-€977,480-€2.0m▼ 109%
Services and other goods61€35.7m€51.5m€51.3m€64.3m€59.3m▼ 7.8%
Remuneration, social security and pensions62€18.4m€22.9m€29.2m€31.1m€33.5m▲ 7.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12.0m€16.6m€17.8m€19.0m€18.5m▼ 2.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€65,739-€893,088€750,091€616,630▼ 17.8%
Provisions for liabilities and charges: additions (uses and reversals)635/8€574,067€2.1m€2.5m€1.9m€2.0m▲ 4.5%
Other operating charges640/8€606,549€425,603€625,502€646,944€702,470▲ 8.6%
Non-recurring operating charges66A€6,211€528€28,336€8,819€14,683▲ 66.5%
Operating profit (loss)9901€5.8m€9.1m€7.8m€12.7m€8.0m▼ 37.4%
Financial income75/76B€1.5m€2.5m€2.3m€1.6m€2.4m▲ 49.3%
Recurring financial income75€1.5m€2.5m€2.3m€1.6m€2.4m▲ 49.3%
Income from current assets751€4,097€7,581€605,653€334,254€769,456▲ 130%
Other financial income752/9€1.5m€2.5m€1.7m€1.3m€1.6m▲ 27.8%
Financial charges65/66B€5.0m€5.5m€7.0m€5.4m€8.1m▲ 49.4%
Recurring financial charges65€5.0m€5.5m€7.0m€5.4m€8.1m▲ 49.4%
Debt charges650€2.9m€3.8m€5.3m€5.0m€5.0m▲ 0.7%
Other financial charges652/9€2.1m€1.7m€1.6m€451,328€3.1m▲ 583%
Profit (loss) for the period before taxes9903€2.4m€6.0m€3.2m€8.9m€2.3m▼ 74.4%
Income taxes67/77€177,836€912,937€965,906€2.1m€551,139▼ 73.5%
Taxes670/3€411,450€1.0m€1.0m€2.1m€1.2m▼ 40.3%
Tax adjustments and reversals of tax provisions77€233,614€87,063€56,866€67€690,000▲ 1,029,751%
Profit (loss) for the period9904€2.2m€5.1m€2.2m€6.9m€1.7m▼ 74.7%
Transfer from tax-exempt reserves789--€1.6m-€2.1m-
Transfer to tax-exempt reserves689€842,000€3.1m€1.4m€997,770€1.6m▲ 62.0%
Profit (loss) for the period to be appropriated9905€1.3m€2.0m€2.4m€5.9m€2.2m▼ 62.5%
Line20212022202320242025Change
Assets
Total assets20/58€317.5m€374.0m€339.9m€343.9m€340.4m▼ 1.0%
Fixed assets21/28€153.6m€148.3m€145.3m€136.2m€150.6m▲ 10.6%
Intangible fixed assets21€3.0m€3.2m€2.0m€2.3m€2.2m▼ 5.2%
Tangible fixed assets22/27€150.3m€144.7m€142.9m€133.3m€135.4m▲ 1.5%
Land and buildings22€37.1m€36.0m€34.9m€33.2m€32.1m▼ 3.1%
Plant, machinery and equipment23€49.5m€47.5m€46.6m€54.7m€48.6m▼ 11.1%
Furniture and vehicles24€617,390€406,129€293,491€199,471€75,789▼ 62.0%
Leasing and similar rights25€55.7m€48.1m€47.7m€39.4m€35.2m▼ 10.8%
Other tangible fixed assets26€4.4m€3.7m€4.7m€3.8m€2.9m▼ 23.4%
Assets under construction and advance payments27€3.0m€9.0m€8.7m€2.1m€16.5m▲ 700%
Financial fixed assets28€395,092€428,828€413,603€532,340€13.0m▲ 2,349%
Affiliated companies280/1----€269,743-
Participating interests280----€269,743-
Companies linked by participating interests282/3€300,493€300,493€300,493€300,493€12.5m▲ 4,070%
Participating interests282€300,493€300,493€300,493€300,493€12.5m▲ 4,070%
Other financial fixed assets284/8€94,599€128,335€113,110€231,847€235,357▲ 1.5%
Amounts receivable and cash guarantees285/8€94,599€128,335€113,110€231,847€235,357▲ 1.5%
Current assets29/58€163.9m€225.7m€194.6m€207.8m€189.8m▼ 8.6%
Amounts receivable after more than one year29€772,972€772,972€772,972€772,972€772,972=
Trade receivables290---€772,972€772,972=
Other amounts receivable291€772,972€772,972€772,972---
Stocks and contracts in progress3€51.7m€78.4m€72.9m€67.3m€71.6m▲ 6.4%
Stocks30/36€51.7m€78.4m€72.9m€67.3m€71.6m▲ 6.4%
Raw materials and consumables30/31€10.3m€13.6m€14.9m€15.1m€16.6m▲ 9.7%
Finished goods33€41.4m€64.8m€58.0m€52.2m€55.0m▲ 5.4%
Amounts receivable within one year40/41€102.9m€136.7m€100.8m€113.8m€99.2m▼ 12.8%
Trade receivables40€92.9m€122.6m€90.3m€105.5m€84.1m▼ 20.3%
Other amounts receivable41€10.0m€14.1m€10.5m€8.3m€15.1m▲ 83.2%
Current investments50/53--€3.3m€5.0m€7.0m▲ 40.0%
Other investments51/53--€3.3m€5.0m€7.0m▲ 40.0%
Cash at bank and in hand54/58€8.4m€9.6m€16.7m€20.8m€10.7m▼ 48.6%
Deferred charges and accrued income490/1€147,150€233,801€108,889€80,622€512,349▲ 535%
Equity and liabilities
Total equity and liabilities10/49€317.5m€374.0m€339.9m€343.9m€340.4m▼ 1.0%
Equity10/15€58.6m€63.5m€80.5m€87.6m€89.0m▲ 1.6%
Contributions10/11€42.5m€42.5m€56.0m€56.0m€56.0m=
Capital10€13.6m€13.6m€16.3m€16.3m€16.3m=
Issued capital100€13.6m€13.6m€16.3m€16.3m€16.3m=
Outside capital11€28.9m€28.9m€39.6m€39.6m€39.6m=
Share premium1100/10€28.9m€28.9m€39.6m€39.6m€39.6m=
Reserves13€13.5m€18.5m€20.8m€27.6m€29.4m▲ 6.3%
Non-distributable reserves130/1€1.4m€1.4m€1.4m€1.4m€1.5m▲ 8.5%
Legal reserve130€1.4m€1.4m€1.4m€1.4m€1.5m▲ 8.5%
Tax-exempt reserves132€2.3m€5.4m€5.2m€6.2m€6.3m▲ 0.9%
Distributable reserves133€9.8m€11.8m€14.2m€20.1m€21.6m▲ 7.8%
Profit (loss) carried forward14€1.4m€1.4m€1.4m€1.4m€1.4m=
Investment grants15€1.3m€1.1m€2.4m€2.6m€2.3m▼ 12.2%
Provisions and deferred taxes16€102,700€103,501----
Provisions for liabilities and charges160/5€102,700€103,501----
Pensions and similar obligations160€2,700€179----
Other liabilities and charges164/5€100,000€103,322----
Amounts payable17/49€258.8m€310.4m€259.4m€256.4m€251.4m▼ 1.9%
Amounts payable after more than one year17€132.1m€145.1m€142.7m€139.6m€126.5m▼ 9.4%
Financial debts170/4€101.8m€114.8m€104.3m€100.8m€87.7m▼ 13.0%
Leasing and similar obligations172€28.3m€35.3m€29.4m€22.5m€22.1m▼ 1.8%
Credit institutions173€55.8m€61.8m€57.3m€60.6m€65.6m▲ 8.3%
Other loans174€17.7m€17.7m€17.7m€17.7m--
Other amounts payable178/9€30.3m€30.3m€38.4m€38.8m€38.8m=
Amounts payable within one year42/48€126.7m€165.1m€116.4m€116.7m€124.8m▲ 6.9%
Current portion of amounts payable after more than one year42€13.4m€14.7m€15.6m€17.0m€30.5m▲ 79.7%
Trade debts44€110.6m€147.1m€96.7m€94.8m€89.0m▼ 6.1%
Suppliers440/4€110.6m€147.1m€96.7m€83.6m€82.1m▼ 1.8%
Bills of exchange payable441---€11.1m€6.9m▼ 38.4%
Taxes, remuneration and social security45€2.5m€3.2m€4.0m€4.9m€4.3m▼ 13.0%
Taxes450/3€10,341€111,547€277,295€979,381€342,413▼ 65.0%
Remuneration and social security454/9€2.5m€3.1m€3.7m€3.9m€3.9m=
Other amounts payable47/48€100,000€100,000€150,000€100,000€1.1m▲ 973%
Accrued charges and deferred income492/3€43,362€207,575€245,906€41,581€73,143▲ 75.9%
Line20212022202320242025Change
Profit (loss) for the period9904€2.2m€5.1m€2.2m€6.9m€1.7m▼ 74.7%
+ Depreciation and write-downs630€12.0m€16.6m€17.8m€19.0m€18.5m▼ 2.9%
Operating cash flow (approximation)€14.1m€21.7m€20.0m€25.9m€20.2m▼ 21.9%
Investment in fixed assets (approximation)--€11.3m-€14.8m-€9.9m-€32.9m▼ 234%
Change in cash-€1.3m€7.1m€4.2m-€10.1m▼ 344%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
21-08
State Gazette act Resignation: Régis Tricoteaux (représentant de laitnaa)
Appointment: Etienne PRUVOT (représentant de laitnaa)3 facts ▸
  • General meeting, 12-05-2026
  • Director resignation, Régis Tricoteaux (représentant de laitnaa)
  • Director appointment, Etienne PRUVOT (représentant de laitnaa)
28-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
26-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Highest result since 2018net €6.9m ▲208%
Operating result €12.7m, net result €6.9m, both a record.
19-06
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
14-07
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
29-06
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial Equity above €50mEq €58.6m ▲46.5%
4 profitable years in a row build equity to €58.6m.
11-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
26-06
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
09-07
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
11-05
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 22 acts read
About the unread acts

Of the 22 Belgian State Gazette acts we know for this company, 1 has been read. The other 21 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors

Permanent representatives 1

Etienne PRUVOT
Représentant de laitnaa · since 11-05-2026
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Libramont-Chevigny · 2 establishment units since 1991
establishment 1 of 2 establishment units on the map
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.

Recogne,Rue de Saint-Hubert 756800 Libramont-Chevigny
Ground area
1.2 ha
Building footprint
2,716 m²
Volume, LiDAR
28,158 m³
Parcel 53009B0448/00E000, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Solarec S.A. - Solarec Recogne
Recogne,Rue de Saint-Hubert 75, 6800 Libramont-ChevignyNACE 15510
since 19912.051.741.030
Solarec S.A. - Solarec Baudour
Rue des Azalées(B) 3B, 7331 Saint-GhislainManufacture of food products
since 20172.267.115.573
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
53009B0448/00E000 Wallonia 1.2 ha 1 · 2,716 m² 11.1 m · 3 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

2 people since 2026, 1 in office
Show
  • Permanent representative
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Etienne PRUVOT
  • Représentant de laitnaa, from 11-05-2026 to date
Régis Tricoteaux
  • Représentant de laitnaa, until 11-05-2026
See the board, name and seat on a given date →

Structure & network

Part of the group LAITERIE DES ARDENNES 3 companies Group, risk and exposure

Owners and holdings

1 owner · 2 holdings

Chain of control

  1. LAITERIE DES ARDENNES consolidated
  2. SOLAREC

Highest known parent: LAITERIE DES ARDENNES. The sources do not say who stands above it.

Owners 1

Holdings 2

According to the 2023 annual accounts of SOLAREC and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Recognitions · licences · registrations

Food safety, FASFC

2 sites
Libramont-Chevigny2.051.741.030
3 permissions
Fabrikant andere meststoffen · since 12-01-2016
Fabrikant voedermiddelen · since 23-03-2007
Erkenning · Melkinrichting · since 01-01-1999
Saint-Ghislain2.267.115.573
3 permissions
Fabrikant voedermiddelen · since 15-03-2023
Fabrikant andere meststoffen · since 01-05-2019
Erkenning · Melkinrichting · since 08-11-2017

Legal Entity Identifier

549300UNM8C3J84ZZ275
live in the LEI register

Similar companies · same sector, comparable size

Of 396 companies in sector 46331 we hold annual accounts for 228. 13 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded31-12-1990
Fiscal year end31-12
Activities, NACEBEL 2025
10510Manufacture of food products
46331Wholesale trade
Contact
E-mail info@solarec.be
Phone 00 32 61 229 811
Phone 003261241335Saint-Ghislain
E-invoicing
Reachable via Peppol
Peppol ID 0208:0442442140
Registered 27-11-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.