ECHO BAY
ActiveSummary
The computed 12-month bankruptcy probability of ECHO BAY is 2.2% (moderate). The 2025 annual accounts show equity of €681k and a net result of €-480k. Equity is shrinking by ~17.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 42% of 10359 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
36
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-11
Solvency55▲+55
Growth45▲+13
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days only on tighter terms
Liquidity tight (current ratio 1.3 against 0.65 in 2023; short-term debt: 69% and cash: 4.7% of total assets), and 69.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
30.3%
Return on assets
-21.4%
Age of the figures
20 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 31-01-2025 was due by 31-08-2025 and was filed on 09-07-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2023
42 d late
2022
91 d late
2021
21 d early
2020
53 d early
2019
24 d early
2018
6 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Turnover
€10.91M▼ 0.1%
2022 · €10.92M
2019: €11.32M
2020: €9.24M
2021: €9.38M
2022: €10.92M
2019 → 2023
EBIT margin
-1.7%▼ 1.5pp
2022 · -0.2%
2019: 3.4%
2020: -8.7%
2021: -1.1%
2022: -0.2%
2019 → 2023
Net result
€-480k▼ 141%
2023 · €-199k
2019: €233k
2020: €-797k
2021: €-107k
2022: €-30k
2023: €-199k
2019 → 2025
Working capital
€461k
2023 · €-1.01M
2019: €-517k
2020: €-1.04M
2021: €-977k
2022: €-964k
2023: €-1.01M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232025Trend
Turnover€9.24M-€9.38M▲ 1.6%€10.92M▲ 16.4%€10.91M▼ 0.1%
Equity€-503k-€-610k▼ 21.4%€-640k▼ 4.9%€-839k▼ 31.0%€681k
Operating result€-802k-€-104k▲ 87.0%€-17k▲ 83.3%€-185k▼ 964%€-457k▼ 147%
Net result€-797k-€-107k▲ 86.5%€-30k▲ 72.0%€-199k▼ 561%€-480k▼ 141%
Result per fiscal year
Operating resultNet result
The operating result is €-457k in 2025, compared with €-185k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €2.25M
Fixed assets
€235k ▲ 13.9%
Current assets
€2.01M ▲ 7.1%
Equity and liabilities €2.25M
Equity
€681k
Debt
€1.56M
Debt finances 69.7% of the balance-sheet total.
Key figures and ratios
EBITDA
€-348k▼
2023 · €-9k
Cash flow
€-371k▼
2023 · €-23k
Current ratio
1.30▲
2023 · 0.65
Quick ratio
0.07▲
2023 · 0.02
Debt to equity
2.30▲
2023 · -3.48
ROE
-70.5%
ROA
-21.4%▼
2023 · -9.5%
Interest coverage
-20.48▼
2023 · -1.54
Debt ≤ 1 year
€1.55M▼
2023 · €2.88M
Income taxes
€6k▲
2023 · €2k
Staff costs
€2.04M▲
2023 · €1.41M
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 2023 · 69 lines
Balance sheet
Code20232025
Assets
Total assets20/58€2.08M€2.25M▲
Fixed assets21/28€207k€235k▲
Tangible fixed assets22/27€206k€234k▲
Land and buildings22€974€974=
Plant, machinery and equipment23€52k€66k▲
Furniture and vehicles24€28k€15k▼
Other tangible fixed assets26€125k€152k▲
Financial fixed assets28€834€834=
Other financial fixed assets284/8€834-
Amounts receivable and cash guarantees285/8€834-
Current assets29/58€1.88M€2.01M▲
Amounts receivable after more than one year29€5k-
Other amounts receivable291€5k-
Stocks and contracts in progress3€1.81M€1.91M▲
Stocks30/36€1.81M€1.91M▲
Goods purchased for resale34€1.81M-
Amounts receivable within one year40/41-€33
Trade receivables40-€33
Cash at bank and in hand54/58€55k€105k▲
Deferred charges and accrued income490/1€2k-
Equity and liabilities
Total equity and liabilities10/49€2.08M€2.25M▲
Equity10/15€-839k€681k▲
Contributions10/11€62k€2.06M▲
Capital10€62k€2.06M▲
Issued capital100€62k€2.06M▲
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€-907k€-1.39M▼
Amounts payable17/49€2.92M€1.56M▼
Amounts payable within one year42/48€2.88M€1.55M▼
Current portion of amounts payable after more than one year42€8k-
Trade debts44€976k€225k▼
Suppliers440/4€976k€225k▼
Taxes, remuneration and social security45€472k€637k▲
Taxes450/3€220k€431k▲
Remuneration and social security454/9€252k€206k▼
Other amounts payable47/48€1.43M€688k▼
Accrued charges and deferred income492/3€38k€15k▼
Income statement
Code20232025
Operating income70/76A€11.01M-
Turnover70€10.91M-
Other operating income74€97k-
Non-recurring operating income76A-€35k
Operating charges60/66A€11.19M-
Goods for resale, raw materials and consumables60€6.05M-
Purchases600/8€6.18M-
Change in stocks: decrease (increase)609€-127k-
Services and other goods61€3.57M-
Remuneration, social security and pensions62€1.41M€2.04M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€176k€109k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-107k€23k▲
Other operating charges640/8€90k€75k▼
Gross operating margin9900-€1.79M
Operating profit (loss)9901€-185k€-457k▼
Financial income75/76B€93€3▼
Recurring financial income75€93€3▼
Other financial income752/9€93-
Financial charges65/66B€12k€17k▲
Recurring financial charges65€12k€17k▲
Debt charges650€6k-
Other financial charges652/9€6k-
Profit (loss) for the period before taxes9903€-197k€-474k▼
Income taxes67/77€2k€6k▲
Taxes670/3€2k-
Profit (loss) for the period9904€-199k€-480k▼
Profit (loss) for the period to be appropriated9905€-199k€-480k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-907k€-1.39M▼
Profit (loss) brought forward from the previous period14P€-708k€-907k▼
Social balance
Average headcount (FTE)908735.135.5▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
21-09
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan VandammeResignations: Stefan Goethaert (director) and Stefaan Vandamme (director) · Appointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representatives: Stefan Goethaert and Geoffrey Baudts16 facts ▸
State Gazette act
Reappointments: Jo Willemyns, Kris Castelein and Stefaan Vandamme
Resignations: Stefan Goethaert (director) and Stefaan Vandamme (director) · Appointments: Stefan Goethaert BV, Peter Vanbellingen and Michaël Hamelryck · Permanent representatives: Stefan Goethaert and Geoffrey Baudts16 facts ▸
- General meeting, 09-06-2026
- Director reappointment, Jo Willemyns (director)
- Director reappointment, Kris Castelein (director)
- Director reappointment, Stefaan Vandamme (director)
- Director resignation, Stefan Goethaert (director)
- Director appointment, Stefan Goethaert BV (director)
- Permanent representative, Stefan Goethaert (permanent representative)
- Director appointment, Peter Vanbellingen (director)
- Board meeting, 23-07-2026
- Board meeting, 00u00, einde aan delegatie van het dagelijks bestuur
- Board meeting, 00u00, met inbegrip van de vertegenwoordiging van de Vennootschap wat dat bestuur aangaat
- Permanent representative, Geoffrey Baudts (permanent representative)
- +4 further facts in this act
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-01
Financial
Equity above €500kEq €681k
Equity rises from €-839k to €681k.
2024
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 42 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 91 days late
2022
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
06-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
Financial
Weakest financial yearnet €-797k ▼442%
Net result drops to €-797k, the lowest in the series; recovery starts the following year.
05-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
06-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 6 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26117901). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Michael Hamelryck
CurrentDirector · since 01-08-2026
Jo Willemyns
CurrentDirector · since 09-06-2026
Kris Castelein
CurrentDirector · since 09-06-2026
Stefan Goethaert BV
CurrentDirector · since 09-06-2026 · Legal entity · perm. rep.: Stefan Goethaert
VANBELLINGEN Peter
CurrentDirector · since 09-06-2026
01-08-2026
Michael Hamelryck: Appointed as Director
01-08-2026
Stefaan Vandamme: Reappointed as Director
09-06-2026
Jo Willemyns: Mandate renewed as Director
09-06-2026
Kris Castelein: Mandate renewed as Director
09-06-2026
Stefan Goethaert BV: Appointed as Director
Location & real-estate footprint
Registered office, Merchtem · 8 establishment units since 1993
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.
Brusselsesteenweg 1851785 MerchtemGround area
12.4 ha
Building footprint
4.4 ha
Volume, LiDAR
65,604 m³
8 parcels, Flanders · tallest building 14.1 m, ±3 floors. Linked by address, not a title deed.
8 establishment units
ZEB Aalst
since 19932.060.412.632
ZEB Merchtem
since 20062.156.336.922
ZEB Denderleeuw
since 20102.185.923.704
ZEB Halle
since 20112.204.644.407
ZEB Sint-Pieters-Leeuw
since 20132.217.182.052
ZEB Asse
since 20132.221.406.797
Show 2 more locations
ZEB Sint Genesius Rode
since 20142.233.591.878
ZEB Groot-Bijgaarden
since 20152.238.598.860
8 parcels
Flanders
8
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23077A0147/00P000 | Flanders | 7.7 ha | 1 · 2.8 ha | - |
| 23026B0116/00Z022 | Flanders | 2.1 ha | 1 · 6,594 m² | 0.9 m |
| 22004D0020/00D002 | Flanders | 1.0 ha | 1 · 1,973 m² | 10.2 m · 3 fl. |
| 41302C0975/00K002 | Flanders | 5,465 m² | 1 · 3,331 m² | 14.1 m · 2 fl. |
| 23602I0093/00H003 | Flanders | 4,312 m² | 1 · 1,588 m² | 12.8 m · 3 fl. |
| 23322C0259/00N000 | Flanders | 2,394 m² | 1 · 879 m² | 6.8 m · 2 fl. |
| 23412I0326/00T002 | Flanders | 1,701 m² | 1 · 367 m² | 11.2 m · 3 fl. |
| 41402B0657/00P000 | Flanders | 1,499 m² | 1 · 854 m² | 6.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 7
8 of 8 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Who signs
“Het mandaat zal onbezoldigd uitgeoefend worden. De Dagelijks Bestuurder zal in deze hoedanigheid, afzonderlijk optredend, beschikken over alle machten van en over de maatschappelijke handtekening voor alle bewerkingen van het dagelijks bestuur, evenwel rekening houdende met eventuele statutaire…”
Full text
Het mandaat zal onbezoldigd uitgeoefend worden. De Dagelijks Bestuurder zal in deze hoedanigheid, afzonderlijk optredend, beschikken over alle machten van en over de maatschappelijke handtekening voor alle bewerkingen van het dagelijks bestuur, evenwel rekening houdende met eventuele statutaire en/of contractuele beperkingen (inclusief de interne handtekeningenmatrix van Colruyt Group). Naar banken behelst dit onder meer: het openen van alle rekeningen bij de banken of bij het bestuur der postcheques; op de geopende of te openen rekeningen alle verrichtingen doen en goedkeuren; de rekeningen opzeggen of afsluiten en het saldo innen.
Other provisions of the articles (3)
- Board rule
- Other statement: het openen van alle rekeningen bij de banken of bij het bestuur der postcheques; op de geopende of te openen rekeningen alle verrichtingen doen en goedkeuren; d…
- Other statement: alle verrichtingen bij de bedrijven die openbare nutsvoorzieningen en openbare diensten aanbieden, zoals energieleveranciers, post, telefoon, water en andere, v…
Structure & network
Connections & network
52 connected companiesLinked via shared directors
Show 48 more companies with a shared director
via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck and Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via Michael Hamelryck · Non-statutory director
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via Kris Castelein · Director
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via Kris Castelein · Director
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via VANBELLINGEN Peter and Kris Castelein · Director
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via Michael Hamelryck · Non-statutory director
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via Michael Hamelryck · Non-statutory director
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via Kris Castelein · Director
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via Kris Castelein · Non-statutory director
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via Kris Castelein · Non-statutory director
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via Kris Castelein · Non-statutory director
→
via Michael Hamelryck · Non-statutory director
→
→
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via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein · Director
former→
via Kris Castelein
former→
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Merchtem
controls
ECHO BAYBE 0839.710.489
Recognitions · licences · registrations
Food safety, FASFC
2 sitesDenderleeuw2.185.923.704
Dilbeek2.238.598.860
Legal Entity Identifier
54930019E7F3IMZD8Y90
Similar companies · same sector, comparable size
MARTY
BE 0424.848.617
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BE 0439.698.624
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GESY - STOCK ADVENTURE
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J.M.F. ROOSEN
BE 0474.590.811
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STARCOLA
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Of 6,503 companies in sector 47716 we hold annual accounts for 2,441. 1,318 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
Founded28-09-2011
Fiscal year end31-01
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.