Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Busy address KBO
61 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Equation Belgium from Watermaal-Bosvoorde, company number BE0461174226, closed financial year 2025 with a result of € 41,688 after tax. For that financial year Equation Belgium recorded a gross margin of € 62,999 and equity of € 150,554. Compared with financial year 2024, the result moved from € 39,707 to € 41,688. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on February 2, 2026.
€ 150,554
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 41,688
▲ 5% vs 2024
Profit after tax over the fiscal year.
€ 35,154
▼ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 40,000 paid out
96 % of the profit went to the shareholders, mostly to EQUATION INTERNATIONAL (100 % of the shares). That is where the money ends up.
People and assets in 2025
€ 16,865
▼ 33% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 513
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 21,510
▼ 53% vs 2024
Loans from banks and other lenders, long and short.
€ 57,482
▲ 3% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,465
▲ € 2,379 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 71,770 | € 67,941 | € 69,653 | € 62,999 | ▼ 10% |
| Profit after taxes | € 67,271 | € 60,605 | € 39,707 | € 41,688 | ▲ 5% |
| Equity | € 138,554 | € 146,159 | € 148,866 | € 150,554 | ▲ 1% |
| Total debts | € 118,582 | € 186,637 | € 151,877 | € 146,282 | ▼ 4% |
| Cash | € 23,459 | € 71,668 | € 47,600 | € 35,154 | ▼ 26% |
| Retained profit | € 77,054 | € 84,659 | € 87,366 | € 89,054 | ▲ 2% |
| Dividend | € 60,000 | € 53,000 | € 37,000 | € 40,000 | ▲ 8% |
| Bank debt | € 0 | € 0 | € 46,042 | € 21,510 | ▼ 53% |
| Balance sheet total | € 257,137 | € 332,796 | € 300,743 | € 296,836 | ▼ 1% |
Key figures of Equation Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Equation Belgium?
What happened at Equation Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Equation International SA stepped down as director. NBB
- Patrick Coets stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 41,688 (▲ 5% vs 2024). filed late Source: NBB ↗
- Equation International SA became a director. NBB
- Patrick Coets became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- Start of the company according to the CBE. KBO
In short
From € 67,271 profit in 2022 to € 41,688 profit in 2025.
Paid € 7,148 in corporate taxes since 2022.
Best year ever: 2022, with € 67,271 profit.
Paid out € 190,000 in dividends to the owners in total.
A new publication or filing at Equation Belgium? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of EQUATION INTERNATIONAL comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Equation BelgiumThe shares are held by EQUATION INTERNATIONAL (99.7%).
Directors
According to the 2025 annual accounts
Director · represented by Bernard COETS
since 2020 · until 2026
since 2020 · until 2026
Shareholders
99.7%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 185
1170 Watermaal-Bosvoorde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 61 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Details
- Company number
- 0461.174.226
- VAT number
- BE 0461.174.226
- Registered office
- Terhulpsesteenweg 185, 1170 Watermaal-Bosvoorde
- Names & denominations
- Equation Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 July 1997
- Peppol
- Active · Active since 29 May 2025
- Contact
- equation.be [email protected] 02 543 15 00
- Activities · NACE
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