EQUANS Services
ActiveSummary
EQUANS Services has been active since 1963 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €56.85M and a net result of €15.58M. Equity is shrinking by ~15.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 28% of 456 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability63▼-4
Solvency48=
Growth39▼-18
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.63 in 2024; short-term debt: 58.5% and cash: 0.2% of total assets), but 77.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Sector 81
higher
← 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 2025Solvency, return and age of the figures
Solvency
22.7%
Return on assets
6.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €56.85M
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
24 d early
2023
23 d early
2022
11 d early
2021
19 d early
2020
15 d early
2019
18 d early
← before the deadline
after the deadline →
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 monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€527.94M▲ 2.9%
2024 · €513.15M
2019: €372.85M
2020: €333.57M
2021: €362.46M
2022: €425.40M
2023: €464.27M
2024: €513.15M
2019 → 2025
EBIT margin
3.8%▼ 1.3pp
2024 · 5.1%
2019: 4.2%
2020: 1.4%
2021: -0.5%
2022: 2.9%
2023: 2.0%
2024: 5.1%
2019 → 2025
Net result
€15.58M▼ 17.1%
2024 · €18.80M
2019: €18.04M
2020: €10.95M
2021: €43.19M
2022: €9.20M
2023: €11.87M
2024: €18.80M
2019 → 2025
Working capital
€95.04M▲ 9.2%
2024 · €87.01M
2019: €82.90M
2020: €93.44M
2021: €277.15M
2022: €256.29M
2023: €78.65M
2024: €87.01M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€362.46M-€425.40M▲ 17.4%€464.27M▲ 9.1%€513.15M▲ 10.5%€527.94M▲ 2.9%
Equity€264.45M-€235.85M▼ 10.8%€50.12M▼ 78.8%€53.72M▲ 7.2%€56.85M▲ 5.8%
Operating result€-1.79M-€12.37M€9.35M▼ 24.5%€26.20M▲ 180%€19.98M▼ 23.7%
Net result€43.19M-€9.20M▼ 78.7%€11.87M▲ 29.0%€18.80M▲ 58.4%€15.58M▼ 17.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €250.13M
Fixed assets
€8.75M ▼ 24.4%
Current assets
€241.38M ▲ 6.9%
Equity and liabilities €250.13M
Equity
€56.85M ▲ 5.8%
Provisions
€3.29M ▼ 10.4%
Debt
€189.99M ▲ 5.6%
Debt's share of the balance-sheet total rises from 75.8% to 76.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22.42M▼
2024 · €28.86M
Cash flow
€18.02M▼
2024 · €21.46M
Current ratio
1.65▲
2024 · 1.63
Quick ratio
1.65▲
2024 · 1.62
Debt to equity
3.34▼
2024 · 3.35
ROE
27.4%▼
2024 · 35.0%
ROA
6.2%▼
2024 · 7.9%
Interest coverage
40.53▼
2024 · 88.76
Debt ≤ 1 year
€146.34M▲
2024 · €138.69M
Income taxes
€7.40M▼
2024 · €9.14M
Staff costs
€180.49M▲
2024 · €173.93M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 96 lines
Balance sheet
Code20242025
Assets
Total assets20/58€237.27M€250.13M▲
Fixed assets21/28€11.57M€8.75M▼
Intangible fixed assets21€4.40M€2.39M▼
Tangible fixed assets22/27€1.97M€1.21M▼
Land and buildings22€1.36M€723k▼
Plant, machinery and equipment23€209k€280k▲
Furniture and vehicles24€382k€209k▼
Assets under construction and advance payments27€13k-
Financial fixed assets28€5.20M€5.15M▼
Affiliated companies280/1€5.15M€5.15M=
Participating interests280€5.15M€5.15M=
Companies linked by participating interests282/3€100-
Participating interests282€100-
Other financial fixed assets284/8€56k€1k▼
Shares284€1k€1k=
Amounts receivable and cash guarantees285/8€55k-
Current assets29/58€225.70M€241.38M▲
Amounts receivable after more than one year29€595k€478k▼
Trade receivables290€595k€478k▼
Stocks and contracts in progress3€1.06M€640k▼
Stocks30/36€1.06M€640k▼
Raw materials and consumables30/31€960k€542k▼
Goods purchased for resale34€98k€98k=
Amounts receivable within one year40/41€155.64M€144.47M▼
Trade receivables40€151.35M€141.43M▼
Other amounts receivable41€4.29M€3.04M▼
Current investments50/53€58.08M€85.86M▲
Other investments51/53€58.08M€85.86M▲
Cash at bank and in hand54/58€604k€618k▲
Deferred charges and accrued income490/1€9.73M€9.30M▼
Equity and liabilities
Total equity and liabilities10/49€237.27M€250.13M▲
Equity10/15€53.72M€56.85M▲
Contributions10/11€6.57M€6.57M=
Capital10€6.57M€6.57M=
Issued capital100€6.57M€6.57M=
Reserves13€4.87M€4.87M=
Non-distributable reserves130/1€679k€679k=
Legal reserve130€657k€657k=
Reserves not available under the articles1311€23k€23k=
Tax-exempt reserves132€223k€223k=
Distributable reserves133€3.97M€3.97M=
Profit (loss) carried forward14€42.29M€45.41M▲
Provisions and deferred taxes16€3.67M€3.29M▼
Provisions for liabilities and charges160/5€3.67M€3.29M▼
Pensions and similar obligations160€198k€87k▼
Other liabilities and charges164/5€3.47M€3.20M▼
Amounts payable17/49€179.88M€189.99M▲
Amounts payable within one year42/48€138.69M€146.34M▲
Trade debts44€58.51M€63.84M▲
Suppliers440/4€58.51M€63.84M▲
Advances received on contracts in progress46€35.28M€35.39M▲
Taxes, remuneration and social security45€29.36M€34.30M▲
Taxes450/3€3.02M€3.71M▲
Remuneration and social security454/9€26.34M€30.59M▲
Other amounts payable47/48€15.54M€12.81M▼
Accrued charges and deferred income492/3€41.19M€43.65M▲
Income statement
Code20242025
Operating income70/76A€522.77M€533.18M▲
Turnover70€513.15M€527.94M▲
Own construction capitalised72€37k€7k▼
Other operating income74€9.58M€5.23M▼
Operating charges60/66A€496.56M€513.20M▲
Goods for resale, raw materials and consumables60€241.65M€245.42M▲
Purchases600/8€241.39M€245.01M▲
Change in stocks: decrease (increase)609€263k€418k▲
Services and other goods61€75.49M€82.86M▲
Remuneration, social security and pensions62€173.93M€180.49M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.66M€2.44M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€516k€-29k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-542k€-215k▲
Other operating charges640/8€1.67M€896k▼
Non-recurring operating charges66A€1.19M€1.33M▲
Operating profit (loss)9901€26.20M€19.98M▼
Financial income75/76B€2.49M€4.11M▲
Recurring financial income75€2.49M€4.11M▲
Income from financial fixed assets750€825k€2.60M▲
Income from current assets751€1.60M€1.47M▼
Other financial income752/9€62k€36k▼
Non-recurring financial income76B€2k-
Financial charges65/66B€753k€1.11M▲
Recurring financial charges65€753k€1.11M▲
Debt charges650€325k€553k▲
Other financial charges652/9€428k€557k▲
Non-recurring financial charges66B-€100
Profit (loss) for the period before taxes9903€27.94M€22.98M▼
Income taxes67/77€9.14M€7.40M▼
Taxes670/3€9.14M€7.40M▼
Profit (loss) for the period9904€18.80M€15.58M▼
Transfer from tax-exempt reserves789€2.00M-
Profit (loss) for the period to be appropriated9905€20.80M€15.58M▼
Appropriation of the result
Profit (loss) to be appropriated9906€59.48M€57.87M▼
Profit (loss) brought forward from the previous period14P€38.68M€42.29M▲
Transfer to equity691/2€2.00M-
To other reserves6921€2.00M-
Profit to be distributed694/7€15.19M€12.45M▼
Return on contributions (dividend)694€15.19M€12.45M▼
Social balance
Average headcount (FTE)90872,131.92,081.2▼
The notes to these accounts (84 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €9.20M ▼78.7%
Net result drops to €9.20M, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2019net €43.19M ▲294%
Net result €43.19M, the highest in the series.
31-12
Financial
Equity above €250MEq €264.45M ▲14.4%
3 profitable years in a row build equity to €264.45M.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Show earlier events
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2014
25-11
State Gazette act
Incorporation · Founder
Founding capital · Corporate purpose
25-11
State Gazette act
Incorporation · Founder
Founding capital · Corporate purpose
2012
16-02
State Gazette act
Incorporation · Founding capital
Bank account · Corporate purpose
2011
30-03
State Gazette act
Incorporation · Corporate purpose
Founding capital · Bank account
2010
28-09
State Gazette act
Incorporation · Corporate purpose
Founding capital · Bank account
2006
10-04
State Gazette act
Incorporation · Founder
Corporate purpose · Founding capital
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
143 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, Sint-Joost-ten-Node · 5 establishment units since 1983
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.
Koning Albert II-laan 191210 Sint-Joost-ten-NodeGround area
11.6 ha
Building footprint
3.8 ha
Volume, LiDAR
332,876 m³
5 parcels, Brussels, Flanders, Wallonia · tallest building 53.4 m, ±14 floors. Linked by address, not a title deed.
5 establishment units
EQUANS Services
since 19832.039.236.641
EQUANS Services
since 19962.039.236.542
EQUANS Services
since 19992.134.508.655
EQUANS Services
since 20152.250.751.178
EQUANS Services
since 20222.327.629.915
5 parcels
Flanders
3
(60%)
Wallonia
1
(20%)
Brussels
1
(20%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23025I0013/00T003 | Flanders | 6.5 ha | 1 · 1.7 ha | 12.9 m · 4 fl. |
| 11001B0016/00N000 | Flanders | 2.5 ha | 1 · 9,746 m² | 14.2 m · 3 fl. |
| 12403E0765/00G000 | Flanders | 1.7 ha | 1 · 8,533 m² | - |
| 62113B0466/00L000 | Wallonia | 6,070 m² | 1 · 1,114 m² | 7.0 m · 2 fl. |
| 21014A0003/00M022 | Brussels | 2,542 m² | 1 · 1,816 m² | 53.4 m · 14 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 4
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 5 entries · 65,019 EUR awarded · 65,019 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 11,973 EUR | 11,973 EUR |
| 2024 | 2 | 21,959 EUR | 21,959 EUR |
| 2023 | 1 | 31,087 EUR | 31,087 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Individueel Maatwerk
Premie kwalificerend werkplekleren
European Union, budget
2025 · 32 entries · 5,691,402 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 32 | 5,691,402 EUR |
Projects
MAINTENANCE OF TECHNICAL INSTALLATIONS AND HELPDESK SERVICES IN EESC BUILDINGS
BUILDING MAINTENANCE SERVICES AND TECHNICAL SUPPORT
INSTALLATION OF 60 ELECTRIC VEHICLE CHARGING STATIONS
JDE - REPLACEMENT OF LIGHTING IN THE AGORA ROOMS (PHASE 4): ROOMS 52 AND 62
SERVICES OF A PROJECT COORDINATOR
Show 15 more projects
FIBER OPTIC CABLES FOR THE SERVER ROOMS , JDE AND BVS
INSTALLATION OF A METER FOLLOWING THE OBLIGATIONS OF PEB (ENERGY PERFORMANCE OF BUILDINGS)
LIGHTING OPTIMISATION FOR THE RESTAURANT AND THE KITCHENS JDE
LIGHTING OPTIMISATION FOR THE MEETING ROOMS AGORA 51, 60, 61
VMA - COMPLIANCE UPGRADE OF THE HIGH-VOLTAGE SUBSTATION
SERVICES OF AN ENERGY ENGINEER
REPLACEMENT OF THE CARBON MONOXIDE DETECTION CONTROL UNIT
REPLACEMENT OF THE LAST FLUORESCENT LIGHTS ON THE MEZZANINE LEVEL
DRAFTING SUPPORT FOR UPDATING PLANS AND AS-BUILT DOCUMENTATION
LIGHTING OPTIMISATION FOR THE CORRIDORS - JDE+7&8
LIGHTING OPTIMISATION FOR THE CORRIDORS - JDE+2
LIGHTING OPTIMISATION FOR THE STAIRWELL JDE E9A
FIRE SAFETY SIGNAGE ON PEDESTRIAN BRIDGES - TECHNICAL STAFF LABOUR
TRIENNIAL INSPECTION OF FIRE DETECTION INSTALLATIONS
JDE PRINTSHOP - COMPLIANCE UPGRADE OF EMERGENCY LIGHTING
Recognitions · licences · registrations
Recognised contractor
9 categoriesEQUANS Services SA14639
Dual-learning approval
15 live approvals · 17 endedElektrische installaties duaal (so)
Elektromecanicien (vwo)
Elektromecanicien duaal (so)
Elektromechanische technieken duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus (vwo)
Show 9 more
Elektrotechnicus duaal (so)
Elektrotechnicus duaal (so)
Elektrotechnisch installateur (vwo)
Installateur elektrotechnische basiscomponenten duaal (so)
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Onderhoudsmedewerker (vwo)
Onderhoudsmedewerker duaal (so)
Sanitaire en verwarmingsinstallaties duaal (so)
Vakman installatietechnieken (vwo)
Show 17 ended approvals
Elektromecanicien (vwo)
Elektromecanicien duaal (so)
Elektromechanische technieken duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Polyvalent onderhoudswerker gebouwen (so)
Technicus installatietechnieken (vwo)
Technicus installatietechnieken duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Onderhoudsmedewerker (vwo)
Onderhoudsmedewerker duaal (so)
Polyvalent onderhoudswerker gebouwen (so)
Elektrische installaties duaal (so)
Elektrotechnisch installateur (vwo)
Monteur centrale verwarming (so)
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Legal Entity Identifier
5493008F2C27FTDN6O70
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Of 1,280 companies in sector 81100 we hold annual accounts for 677. 71 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded05-03-1963
Fiscal year end31-12
Activities, NACEBEL 2025
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.