POWERECO · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of POWERECO is 1.4% (low). The 2023 annual accounts show negative equity (€-30k) and a net result of €41k. Equity is growing by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 9099 sector peers (fiscal year 2023). The company has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.4% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Annual accounts: weaker financial profile +Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

1 signal · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 9099 sector peers (2023).

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 377 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 23-12-2024, 145 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	23-12-2024	145 d late	2024-00625975
31-12-2022	31-07-2023	11-03-2024	224 d late	2024-00043639
31-12-2021	31-07-2022	30-09-2022	61 d late	2022-20450476
31-12-2020	31-07-2021	27-09-2021	58 d late	2021-70400309
31-12-2019	31-07-2020	20-10-2020	81 d late	2020-62200184
31-12-2018	31-07-2019	20-08-2019	20 d late	2019-48200382
31-12-2017	31-07-2018	28-08-2018	28 d late	2018-50600353
31-12-2016	31-07-2017	15-08-2017	15 d late	2017-43300273
31-12-2015	31-07-2016	26-07-2016	5 d early	2016-34800415
31-12-2014	31-07-2015	27-08-2015	27 d late	2015-48500568

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1994, 32 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.

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€41k

Working capital€-30k+57.2%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 23-12-2024 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~19.1%/year over 6 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).

Sector comparison

Fiscal year 2023 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-40.7%	38.7%	better than 5% of 9099 sector peers
Net result	€41k	€12k	better than 82% of 9084 sector peers
Equity	€-30k	€30k	better than 5% of 9105 sector peers
Gross operating margin	€93k	€33k	better than 80% of 9074 sector peers
Staff costs	€36k	€26k	higher than 56% of 3340 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P5

Stable position over 2020-2023 · n=1633-9099

Equity P5

Stable position over 2020-2023 · n=1635-9105

Total assets P43

Improving position over 2020-2023 · n=1633-9100

Describes the position versus peers, not a forecast.

Net profit

€41k

- 18-23

Total assets

€74k

+1924915.2% 18-23

Equity

€-30k

+57.2% 18-23

Working capital

€-30k

+57.2% 18-23

Employees (FTE)

0

- 18-23

Staff costs

€36k

- 18-23

Income taxes

€17k

+185397.8% 18-23

Debt

€105k

+48.0% 18-23

Debt ≤ 1y

€105k

+48.0% 18-23

Current ratio

0.71

+1300610.6% 18-23

Quick ratio

0.71

+1300610.6% 18-23

Solvency

-40.7%

+100.0% 18-23

Debt / equity

-3.46

-245.8% 18-23

ROE

-133.6%

- 18-23

ROA

54.4%

- 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	-
Net profit	€41k
Cash flow	-
Staff costs	€36k
Income taxes	€17k
Dividends	-
Total assets	€74k
Equity	€-30k
Debt	€105k
of which ≤ 1y	€105k
of which > 1y	-
Working capital	€-30k
Employees (FTE)	0.4

Ratios (computed)

	2023
Current ratio	0.71
Quick ratio	0.71
Working capital ratio	-40.7%
Solvency	-40.7%
Debt / equity	-3.46
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	54.4%
ROE	-133.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€74k
Current assets	29/58	€74k
Amounts receivable within one year	40/41	€37k
Cash & bank	54/58	€37k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€74k
Equity	10/15	€-30k
Contributions / capital	10/11	€37k
Reserves	13	€362
Accumulated profits (losses)	14	€-68k
Amounts payable	17/49	€105k
Amounts payable within one year	42/48	€105k
Trade debts payable within one year	44	€320
Income statement
Gross operating margin	9900	€93k
Operating result	9901	€57k
Financial income	75	€13
Financial charges	65	€27
Result before taxes	9903	€57k
Income taxes	67/77	€17k
Net result for the period	9904	€41k
Result to be appropriated	9905	€41k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

8 / 100 Critical

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

POWERECO

Rue François Vandamme(JAM) 40, 6120 Ham-sur-Heure-Nalinnesde groothandel in weefsels en stoffen

since 20032.122.047.719

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area559 m²

Buildings1

Building footprint82 m²

Volume (LiDAR)501 m³

Tallest building7.9 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
56037A0263/00D002	Wallonia	559 m²	1 · 82 m²	7.9 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

1 acts

Address history · 1

30-03-2023

Registered-office move

All acts · 1 updated 3 years ago

2023

30-03-2023 Registered office moved from Aiseau-Presles to Jamioulx Registered-office change·Jonathan Flameng

Rue Grande(PR) 104 : 6250 Aiseau-Presles → 40 rue François Vandamme 6120 Jamioulx (Ham-sur-Heure-Nalinnes)

Notary: Jonathan Flameng · Châtelet

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

45 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 8

Profitability 0

Solvency 38

Growth 78

Stability 100

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Credit advice

verdict per customer and amount

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We hold annual accounts for 3,225 of the 22,771 companies in this sector. 179 of them are within a factor 10 of this company's equity.

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Company registry

Company registry (CBE)

Crossroads Bank

Activities

Elektrotechnische installatiewerken aan gebouwen43211Algemene elektrotechnische installatiewerken43211

Primary activity highlighted.

Names & trade names

Legal nameFR

POWERECO

Registered office

Rue François Vandamme(JAM) 40

6120 Ham-sur-Heure-Nalinnes, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.