SOLORA
ActiveSummary
SOLORA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €9.6m and a net result of €2.7m. Equity is growing by ~43.6% per year across the filed fiscal years. Its solvency ranks better than 78% of 3551 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability86▼-14
Solvency90▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700,000 at 30 days acceptable
Liquidity ample (current ratio 6.43 against 9.41 in 2023; short-term debt: 11.5% and cash: 4.4% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
64.8%
Return on assets
18.4%
Age of the figures
21 mo
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
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 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
28 d early
2022
30 d early
2021
28 d early
2020
54 d early
2019
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 36 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#3 fastest grower in Merelbeke-Melle#4 company by total assets in Merelbeke-Melle, Construction sector#4 company by equity in Merelbeke-Melle, Construction sector
Turnover
€26.0m
EBIT margin
13.3%
Net result
€2.7m▼ 33.3%
2023 · €4.1m
Working capital
€9.3m▼ 20.1%
2023 · €11.7m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€26.0m
Operating result€664,328▼ 17.3%€304,739▼ 54.1%€2.3m▲ 651%€4.9m▲ 113%€3.5m▼ 28.8%
Net result€485,975▼ 14.1%€222,971▼ 54.1%€1.7m▲ 678%€4.1m▲ 137%€2.7m▼ 33.3%
EBIT margin13.3%
Equity€2.1m▲ 29.2%€2.1m▼ 3.6%€3.8m▲ 83.7%€7.9m▲ 108%€9.6m▲ 21.6%
Total assets€3.3m▲ 27.5%€3.4m▲ 5.1%€8.5m▲ 149%€13.8m▲ 62.0%€14.9m▲ 7.3%
Debt€710,808▲ 33.4%€886,919▲ 24.8%€4.2m▲ 375%€5.3m▲ 26.5%€4.8m▼ 10.8%
Working capital€2.4m▲ 28.1%€2.5m▲ 5.7%€7.4m▲ 198%€11.7m▲ 56.7%€9.3m▼ 20.1%
Staff (FTE)16.7▲ 16.8%22.9▲ 37.1%26.9▲ 17.5%33.3▲ 23.8%39.6▲ 18.9%
Why a figure moved sharply
- 2023 Net result +137%, Equity +108%, Total assets +62% on 2022. Cause not known from the registers.
- 2022 Net result +678%, Equity +84%, Total assets +149% on 2021. Cause not known from the registers.
- 2021 Net result -54% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 29% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €14.9m
Fixed assets
€3.8m ▲ 374%
Current assets
€11.0m ▼ 15.5%
Equity and liabilities €14.9m
Equity
€9.6m ▲ 21.6%
Provisions
€481,066 ▼ 20.6%
Debt
€4.8m ▼ 10.8%
Debt's share of the balance-sheet total falls from 38.5% to 32.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.6m▼
2023 · €5.0m
Cash flow
€2.8m▼
2023 · €4.2m
Current ratio
6.43▼
2023 · 9.41
Quick ratio
5.89▼
2023 · 8.28
Debt to equity
0.49▼
2023 · 0.67
ROE
28.5%▼
2023 · 51.9%
ROA
18.4%▼
2023 · 29.6%
Interest coverage
70.38▼
2023 · 229.86
Debt ≤ 1 year
€1.7m▲
2023 · €1.4m
Income taxes
€733,953▼
2023 · €750,882
Staff costs
€2.9m▲
2023 · €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 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.8% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.6% |
| 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 74% 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 17,792 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €26.1m | - |
| Turnover70 | - | - | - | - | €26.0m | - |
| Other operating income74 | - | - | - | - | €124,496 | - |
| Non-recurring operating income76A | - | - | - | - | €5,102 | - |
| Operating charges60/66A | - | - | - | - | €22.7m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €15.6m | - |
| Purchases600/8 | - | - | - | - | €15.0m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | €630,317 | - |
| Services and other goods61 | - | - | - | - | €4.1m | - |
| Remuneration, social security and pensions62 | - | €1.3m | €1.6m | €2.3m | €2.9m | ▲ 27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,840 | €29,860 | €40,906 | €79,235 | €94,375 | ▲ 19.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €68,022 | €56,054 | €76,150 | -€124,535 | ▼ 264% |
| Other operating charges640/8 | - | €5,535 | €7,420 | €24,311 | €43,804 | ▲ 80.2% |
| Gross operating margin9900 | €1.7m | €1.7m | €4.0m | €7.4m | - | - |
| Operating profit (loss)9901 | €664,328 | €304,739 | €2.3m | €4.9m | €3.5m | ▼ 28.8% |
| Financial income75/76B | - | €7,148 | €1,958 | €5,701 | €61,839 | ▲ 985% |
| Recurring financial income75 | €6,670 | €7,148 | €1,958 | €5,701 | €61,839 | ▲ 985% |
| Income from financial fixed assets750 | - | - | - | - | €45,774 | - |
| Income from current assets751 | - | - | - | - | €13,520 | - |
| Other financial income752/9 | - | - | - | - | €2,545 | - |
| Financial charges65/66B | - | €6,013 | €10,946 | €21,541 | €56,998 | ▲ 165% |
| Recurring financial charges65 | €1,940 | €6,013 | €10,946 | €21,541 | €56,998 | ▲ 165% |
| Debt charges650 | - | - | - | - | €50,639 | - |
| Other financial charges652/9 | - | - | - | - | €6,359 | - |
| Profit (loss) for the period before taxes9903 | €669,059 | €305,874 | €2.3m | €4.9m | €3.5m | ▼ 28.5% |
| Income taxes67/77 | €183,084 | €82,903 | €545,157 | €750,882 | €733,953 | ▼ 2.3% |
| Taxes670/3 | - | - | - | - | €733,953 | - |
| Profit (loss) for the period9904 | €485,975 | €222,971 | €1.7m | €4.1m | €2.7m | ▼ 33.3% |
| Transfer from tax-exempt reserves789 | - | €124,000 | €142,400 | €160,800 | €126,300 | ▼ 21.5% |
| Transfer to tax-exempt reserves689 | - | €168,400 | €210,500 | €168,400 | - | - |
| Profit (loss) for the period to be appropriated9905 | €359,675 | €178,571 | €1.7m | €4.1m | €2.9m | ▼ 30.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.3m | €3.4m | €8.5m | €13.8m | €14.9m | ▲ 7.3% |
| Fixed assets21/28 | €202,983 | €226,196 | €435,539 | €810,197 | €3.8m | ▲ 374% |
| Tangible fixed assets22/27 | €74,409 | €72,918 | €214,511 | €221,051 | €224,376 | ▲ 1.5% |
| Plant, machinery and equipment23 | - | €6,373 | €24,362 | €32,054 | €21,679 | ▼ 32.4% |
| Furniture and vehicles24 | - | €66,544 | €190,148 | €188,996 | €202,697 | ▲ 7.2% |
| Financial fixed assets28 | €128,573 | €153,278 | €221,028 | €589,146 | €3.6m | ▲ 514% |
| Affiliated companies280/1 | - | - | - | - | €3.4m | - |
| Participating interests280 | - | - | - | - | €2.7m | - |
| Amounts receivable281 | - | - | - | - | €666,596 | - |
| Other financial fixed assets284/8 | - | - | - | - | €245,015 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €245,015 | - |
| Current assets29/58 | €3.1m | €3.2m | €8.1m | €13.0m | €11.0m | ▼ 15.5% |
| Amounts receivable after more than one year29 | - | - | - | €120,000 | €120,000 | = |
| Other amounts receivable291 | - | - | - | €120,000 | €120,000 | = |
| Stocks and contracts in progress3 | €337,186 | €214,463 | €1.5m | €1.6m | €923,047 | ▼ 40.6% |
| Stocks30/36 | - | €214,463 | €1.5m | €1.6m | €923,047 | ▼ 40.6% |
| Goods purchased for resale34 | - | - | - | - | €923,047 | - |
| Amounts receivable within one year40/41 | €2.3m | €793,310 | €4.8m | €4.8m | €3.4m | ▼ 30.8% |
| Trade receivables40 | - | €562,049 | €4.5m | €4.4m | €3.1m | ▼ 29.1% |
| Other amounts receivable41 | - | €231,261 | €311,416 | €462,087 | €246,970 | ▼ 46.6% |
| Current investments50/53 | - | - | - | - | €2.0m | - |
| Other investments51/53 | - | - | - | - | €2.0m | - |
| Cash at bank and in hand54/58 | €356,361 | €865,562 | €1.2m | €2.3m | €647,424 | ▼ 71.5% |
| Deferred charges and accrued income490/1 | - | €1.3m | €622,479 | €4.3m | €4.0m | ▼ 6.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.3m | €3.4m | €8.5m | €13.8m | €14.9m | ▲ 7.3% |
| Equity10/15 | €2.1m | €2.1m | €3.8m | €7.9m | €9.6m | ▲ 21.6% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €555,355 | €723,755 | €934,255 | €1.1m | €1.1m | = |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | - | - |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | - | - |
| Tax-exempt reserves132 | - | €597,900 | €666,000 | €673,600 | €547,300 | ▼ 18.8% |
| Distributable reserves133 | - | €124,000 | €266,400 | €427,200 | €555,355 | ▲ 30.0% |
| Profit (loss) carried forward14 | €1.6m | €1.3m | €2.9m | €6.8m | €8.5m | ▲ 25.2% |
| Provisions and deferred taxes16 | €405,375 | €473,397 | €529,451 | €605,601 | €481,066 | ▼ 20.6% |
| Provisions for liabilities and charges160/5 | - | €473,397 | €529,451 | €605,601 | €481,066 | ▼ 20.6% |
| Other liabilities and charges164/5 | - | €473,397 | €529,451 | €605,601 | €481,066 | ▼ 20.6% |
| Amounts payable17/49 | €710,808 | €886,919 | €4.2m | €5.3m | €4.8m | ▼ 10.8% |
| Amounts payable within one year42/48 | €702,442 | €711,755 | €679,496 | €1.4m | €1.7m | ▲ 23.7% |
| Financial debts43 | - | - | - | - | €253,252 | - |
| Credit institutions430/8 | - | - | - | - | €253,252 | - |
| Trade debts44 | €485,239 | €231,646 | €282,574 | €980,344 | €988,863 | ▲ 0.9% |
| Suppliers440/4 | - | €231,646 | €282,574 | €980,344 | €988,863 | ▲ 0.9% |
| Taxes, remuneration and social security45 | - | €140,068 | €346,922 | €405,789 | €471,132 | ▲ 16.1% |
| Taxes450/3 | - | €23,401 | €194,111 | €184,993 | €187,573 | ▲ 1.4% |
| Remuneration and social security454/9 | - | €116,667 | €152,811 | €220,796 | €283,559 | ▲ 28.4% |
| Other amounts payable47/48 | - | €340,041 | €50,000 | - | €1,074 | - |
| Accrued charges and deferred income492/3 | - | €175,165 | €3.5m | €3.9m | €3.0m | ▼ 22.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €485,975 | €222,971 | €1.7m | €4.1m | €2.7m | ▼ 33.3% |
| + Depreciation and write-downs630 | €28,840 | €29,860 | €40,906 | €79,235 | €94,375 | ▲ 19.1% |
| Operating cash flow (approximation) | €514,815 | €252,831 | €1.8m | €4.2m | €2.8m | ▼ 32.3% |
| Investment in fixed assets (approximation) | - | -€53,074 | -€250,250 | -€453,892 | -€3.1m | ▼ 588% |
| Change in cash | - | €509,202 | €293,731 | €1.1m | -€1.6m | ▼ 246% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €4.1m ▲137%
Operating result €4.9m, net result €4.1m, both a record.
31-12
Financial
Equity above €5mEq €7.9m ▲108%
6 profitable years in a row build equity to €7.9m.
01-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity triplescurrent ratio 11.94
Current ratio from 4.50 to 11.94; short-term debt falls from €711,755 to €679,496.
03-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €222,971 ▼54.1%
Net result drops to €222,971, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2mEq €2.1m ▲29.2%
3 profitable years in a row build equity to €2.1m.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
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.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Merelbeke-Melle · 1 establishment unit since 2014
Ground area
1,552 m²
Building footprint
586 m²
Volume, LiDAR
5 m³
Parcel 44043A0759/00H000, Flanders · tallest building 0.3 m. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Solora
since 20142.235.358.763
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0759/00H000 | Flanders | 1,552 m² | 1 · 586 m² | 0.3 m |
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.
Structure & network
Owners and holdings
1 owner · 2 holdingsChain of control
- Badia
- SOLORA
Highest known parent: Badia. The sources do not say who stands above it.
Owners 1
- Badiaparent100%
Holdings 2
-
100 shares
-
100 shares
According to the 2024 annual accounts of SOLORA 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 25,903 EUR awarded · 26,251 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,962 EUR | 3,932 EUR |
| 2024 | 1 | 5,489 EUR | 5,519 EUR |
| 2023 | 3 | 11,404 EUR | 11,803 EUR |
| 2022 | 2 | 5,048 EUR | 4,997 EUR |
Recognitions · licences · registrations
Recognised contractor
4 categoriesSOLORA BV41529
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Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0547830660
Registered
05-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.