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.
Financials
Financial year 2025
ETHIAS LEASE from Hasselt, company number BE0805904407, closed financial year 2025 with a result of € -6.6 million after tax. For that financial year ETHIAS LEASE recorded a gross margin of € 5.3 million and equity of € 2.4 million. Compared with financial year 2024, the result moved from € -2.5 million to € -6.6 million. The company made a loss. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 30, 2026.
€ 2.4 million
▲ 18% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -6.6 million
▼ 169 % more loss than in 2024
Profit after tax over the fiscal year.
€ 8 million
▲ 205% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -9.1 million.
People and assets in 2025
10.2
▲ 4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 907,419
▲ 31% vs 2024
€ 89,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 65.2 million
▲ € 52 million vs 2024
€ 7.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 1.2 million
▼ 32% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 55,580
▼ 5% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Gross margin | € -853,299 | € 5,303,045 | ▲ € 6.2 million |
| Profit after taxes | € -2,465,359 | € -6,626,567 | ▼ € 4.2 million |
| Equity | € 2,034,641 | € 2,408,074 | ▲ 18% |
| Total debts | € 15,077,608 | € 66,684,556 | ▲ € 51.6 million |
| Cash | € 2,617,758 | € 7,985,552 | ▲ 205% |
| Retained profit | € -2,465,359 | € -9,091,926 | ▼ € 6.6 million |
| Bank debt | € 13,163,917 | € 65,204,424 | ▲ € 52 million |
| Balance sheet total | € 17,497,643 | € 75,078,830 | ▲ € 57.6 million |
| Employees (FTE) | 6.2 | 10.2 | ▲ 4 |
Key figures of ETHIAS LEASE, fiscal years 2024 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 ETHIAS LEASE?
What happened at ETHIAS LEASE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Massimo Pennetta stepped down as director. NBB
- Zekeria Centinkaya stepped down as director. NBB
- Michiel Alferink stepped down as director. NBB
- Julien Balistreri stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 6.6 million. Source: NBB ↗
- Michiel Alferink became a director. NBB
- New establishment in Ans. KBO
- New establishment in Hasselt. KBO
In short
From € 2.5 million loss in 2024 to € 6.6 million loss in 2025.
On average € 519,900 of value added per employee in 2025.
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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 ETHIAS LEASE CORPORATION comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ETHIAS LEASEThe shares are held by ETHIAS LEASE CORPORATION (50%).
Directors
According to the 2025 annual accounts
Massimo Pennetta
Director
since 2023 · until 2028
Zekeria Centinkaya
Director
since 2023 · until 2028
Michiel Alferink
Director
since 2026 · until 2028
Julien Balistreri
Director
Also active at: SOCIETE LIEGEOISE DE MICRO - INFORMATIQUE, Computerland Benelux
since 2023 · until 2028
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Prins-Bisschopssingel 73
3500 Hasselt
Avenue de l'Expansion 12
4432 Ans
Active since 8 December 2023
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0805.904.407
- VAT number
- BE 0805.904.407
- Registered office
- Prins-Bisschopssingel 73, 3500 Hasselt
- Names & denominations
- ETHIAS LEASE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 September 2023
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Verhuur en lease van personenauto’s en andere lichte motorvoertuigen
Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)
Groothandel in auto's en lichte bestelwagens (= 3,5 ton)
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Groothandel in delen en toebehoren van motorvoertuigen
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Financiële lease
Verhuur en lease van vrachtwagens
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