Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ETHICS from Yvoir, company number BE0479798622, closed financial year 2025 with a result of € -8,989 after tax. For that financial year ETHICS recorded a gross margin of € 3,725 and equity of € 77,546. Compared with financial year 2024, the result moved from € -14,936 to € -8,989. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on April 17, 2026.
€ 77,546
▼ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -8,989
▲ 40 % less loss than in 2024
Profit after tax over the fiscal year.
€ 15,581
▲ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 32,546.
Debts at end 2025
€ 46,800
▼ 15% vs 2024
Loans from banks and other lenders, long and short.
€ 212
▲ 203% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,620
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 15,471 | € 3,954 | € -2,660 | € 3,725 | ▲ € 6,385 |
| Profit after taxes | € 968 | € -8,110 | € -14,936 | € -8,989 | ▲ € 5,947 |
| Equity | € 109,581 | € 101,471 | € 86,535 | € 77,546 | ▼ 10% |
| Total debts | € 105,824 | € 98,855 | € 87,435 | € 84,445 | ▼ 3% |
| Cash | € 52,566 | € 61,711 | € 13,772 | € 15,581 | ▲ 13% |
| Land & buildings | € 88,315 | € 76,434 | € 64,552 | € 52,671 | ▼ 18% |
| Retained profit | € 64,581 | € 56,471 | € 41,535 | € 32,546 | ▼ 22% |
| Bank debt | € 71,700 | € 63,400 | € 55,100 | € 46,800 | ▼ 15% |
| Balance sheet total | € 215,405 | € 200,326 | € 173,970 | € 161,991 | ▼ 7% |
Key figures of ETHICS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ETHICS?
What happened at ETHICS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 8,989. Source: NBB ↗
- New establishment in Yvoir. KBO
- Start of the company according to the CBE. KBO
In short
From € 968 profit in 2022 to € 8,989 loss in 2025.
Paid € 976 in corporate taxes since 2022.
Best year ever: 2022, with € 968 profit.
Establishments
Establishment units
Physical locations of this company
Rue des Rivières, Spontin 27
5530 Yvoir
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
VERIXI, BE
Domain
Domain
ethics-elec.com
Registered
2004-11-04
Registrar
Hosting Concepts B.V. d/b/a Registrar.eu
Expires
2026-11-04
Website info
Features
Security
Details
- Company number
- 0479.798.622
- VAT number
- BE 0479.798.622
- Registered office
- Rue des Rivières, Spontin 27, 5530 Yvoir
- Names & denominations
- ETHICS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 March 2003
- Peppol
- Active · Active since 23 Dec 2025
- Contact
- ethics-elec.com
- Activities · NACE
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