AZELEC
ActiveThe computed 12-month bankruptcy probability of AZELEC is 1.6% (moderate). The 2025 annual accounts show equity of €517k and a net result of €106k. Equity is growing by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 74% of 27711 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability87▲+10
Solvency94▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 3.91 against 4.82 in 2024; short-term debt: 13.1% and cash: 42.4% of total assets), and 30.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
69.2%
Return on assets
14.2%
Age of the figures
9 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 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
3 d early
2023
26 d late
2022
24 d late
2021
6 d early
2020
25 d early
2019
35 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€106k▲ 131%
2024 · €46k
2018: €-35k
2019: €55k
2020: €13k
2021: €19k
2022: €-4k
2023: €14k
2024: €46k
2018 → 2025
Working capital
€285k▲ 22.0%
2024 · €233k
2018: €283k
2019: €316k
2020: €321k
2021: €327k
2022: €259k
2023: €282k
2024: €233k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€437k-€383k▼ 12.3%€397k▲ 3.6%€443k▲ 11.6%€517k▲ 16.6%
Operating result€35k-€2k▼ 94.4%€26k▲ 1,274%€68k▲ 159%€155k▲ 126%
Net result€19k-€-4k€14k€46k▲ 231%€106k▲ 131%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 126% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €746k
Fixed assets
€364k▼ 1.5%
Current assets
€383k▲ 30.0%
Equity and liabilities €746k
Equity
€517k▲ 16.6%
Debt
€230k▲ 4.1%
The debt ratio falls from 33.2% to 30.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€177k▲
2024 · €84k
Cash flow
€128k▲
2024 · €62k
Solvency
69.2%▲
2024 · 66.8%
Current ratio
3.91▼
2024 · 4.82
Quick ratio
3.57▼
2024 · 4.27
Debt / equity
0.44▼
2024 · 0.50
ROE
20.6%▲
2024 · 10.4%
ROA
14.2%▲
2024 · 6.9%
Interest coverage
38.13▲
2024 · 17.90
Debt
€230k▲
2024 · €221k
Debt ≤ 1 year
€98k▲
2024 · €61k
Debt > 1 year
€132k▼
2024 · €160k
Income taxes
€46k▲
2024 · €20k
Staff costs
€122k▼
2024 · €169k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€664k€746k▲
Fixed assets21/28€369k€364k▼
Intangible fixed assets21€29k€38k▲
Tangible fixed assets22/27€340k€326k▼
Land and buildings22€319k€314k▼
Furniture and vehicles24€20k€12k▼
Current assets29/58€295k€383k▲
Stocks and contracts in progress3€34k€34k▼
Stocks30/36€34k€34k▼
Amounts receivable within one year40/41€39k€29k▼
Trade receivables40€3k€14k▲
Other amounts receivable41€36k€15k▼
Cash at bank and in hand54/58€217k€317k▲
Deferred charges and accrued income490/1€4k€4k▼
Equity and liabilities
Total equity and liabilities10/49€664k€746k▲
Equity10/15€443k€517k▲
Contributions10/11€19k€19k=
Reserves13€416k€498k▲
Distributable reserves133€416k€498k▲
Profit (loss) carried forward14€9k-
Amounts payable17/49€221k€230k▲
Amounts payable after more than one year17€160k€132k▼
Financial debts170/4€160k€132k▼
Amounts payable within one year42/48€61k€98k▲
Financial debts43€27k€33k▲
Credit institutions430/8-€5k
Other loans439€27k€28k▲
Trade debts44€7k€1k▼
Suppliers440/4€7k€1k▼
Taxes, remuneration and social security45€27k€33k▲
Taxes450/3€15k€25k▲
Remuneration and social security454/9€12k€8k▼
Other amounts payable47/48-€31k
Income statement
Code20242025
Remuneration, social security and pensions62€169k€122k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€22k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€255k€301k▲
Operating profit (loss)9901€68k€155k▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€66k€152k▲
Income taxes67/77€20k€46k▲
Profit (loss) for the period9904€46k€106k▲
Profit (loss) for the period to be appropriated9905€46k€106k▲
Appropriation of the result
Profit (loss) to be appropriated9906€55k€115k▲
Profit (loss) brought forward from the previous period14P€9k€9k=
Transfer to equity691/2€46k€115k▲
To other reserves6921€46k€115k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €106k ▲131%
Operating result €155k, net result €106k, both a record.
31-12
Financial
Equity above €500kEq €517k ▲16.6%
3 profitable years in a row build equity to €517k.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €55k
Net result €55k after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Jette · 2 establishment units since 2006
Ground area
2.4 ha
Building footprint
2,168 m²
Volume, LiDAR
4,206 m³
2 parcels, Brussels, Flanders · tallest building 15.0 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
AZELEC
since 20062.157.630.089
AZELEC
since 20222.333.864.045
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084A0277/00F000 | Flanders | 1.7 ha | 1 · 1,945 m² | 11.1 m |
| 21463D0209/00N003 | Brussels | 6,449 m² | 1 · 222 m² | 15.0 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
1 categoryAZELEC SRL37820
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Clever Control
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Henk Vandenbogaerde
BE 0829.535.882
Anzegem · Eq €515k
Of 22,826 companies in sector 43211 we hold annual accounts for 10,327. 6,413 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-11-2006
Fiscal year end31-12
Activities, NACEBEL
43211General electrical installation work
45310
47552Retail sale of lighting equipment
47592Retail trade
47789Other retail sale of new goods
52442
52498
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.