BLUE ELEPHANT GROUP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.72M and a net result of €-211k. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 58% of 8018 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
31 d late
2024
95 d late
2023
29 d late
2022
28 d late
2021
9 d early
2020
296 d late
← 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€3.72M▼ 5.4%
2024 · €3.93M
2020: €4.29M
2021: €4.35M
2022: €4.42M
2023: €4.43M
2024: €3.93M
2020 → 2025
Net result
€-211k▲ 57.6%
2024 · €-498k
2020: €4.00M
2021: €59k
2022: €73k
2023: €248k
2024: €-498k
2020 → 2025
Total assets
€6.13M▼ 6.4%
2024 · €6.55M
2020: €6.41M
2021: €6.56M
2022: €7.11M
2023: €6.91M
2024: €6.55M
2020 → 2025
Solvency
60.7%▲ 0.6pp
2024 · 60.0%
2020: 66.9%
2021: 66.3%
2022: 62.2%
2023: 64.1%
2024: 60.0%
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4.35M-€4.42M▲ 1.7%€4.43M▲ 0.2%€3.93M▼ 11.2%€3.72M▼ 5.4%
Operating result€60k-€80k▲ 33.3%€282k▲ 254%€-193k€-177k▲ 8.6%
Net result€59k-€73k▲ 24.9%€248k▲ 237%€-498k€-211k▲ 57.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €177k in 2025 against €193k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.13M
Fixed assets
€2.01M=
Current assets
€4.12M▼ 9.2%
Equity and liabilities €6.13M
Equity
€3.72M▼ 5.4%
Debt
€2.41M▼ 7.8%
The debt ratio falls from 40.0% to 39.3%. Equity and debt are lower.
Key figures and ratios
Solvency
60.7%▲
2024 · 60.0%
ROE
-5.7%▲
2024 · -12.7%
ROA
-3.4%▲
2024 · -7.6%
Debt
€2.41M▼
2024 · €2.62M
Debt ≤ 1 year
€26k▼
2024 · €286k
Debt > 1 year
€2.39M▲
2024 · €2.33M
Staff costs
€114k▼
2024 · €125k
A ratio outside any meaningful range has been withheld (balance sheet total €6.13M, equity €3.72M).
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€6.55M€6.13M▼
Formation expenses20€2k€2k=
Fixed assets21/28€2.01M€2.01M=
Intangible fixed assets21€385k€385k=
Tangible fixed assets22/27€17k€17k▲
Furniture and vehicles24€17k€17k▲
Financial fixed assets28€1.61M€1.61M=
Current assets29/58€4.54M€4.12M▼
Amounts receivable after more than one year29€2.97M€2.79M▼
Other amounts receivable291€2.97M€2.79M▼
Amounts receivable within one year40/41€337k€283k▼
Trade receivables40€283k€279k▼
Other amounts receivable41€54k€4k▼
Current investments50/53-€1.00M
Cash at bank and in hand54/58€1.24M€52k▼
Equity and liabilities
Total equity and liabilities10/49€6.55M€6.13M▼
Equity10/15€3.93M€3.72M▼
Contributions10/11€287k€287k=
Reserves13€4.12M€4.12M=
Tax-exempt reserves132€4.12M€4.12M=
Profit (loss) carried forward14€-479k€-690k▼
Amounts payable17/49€2.62M€2.41M▼
Amounts payable after more than one year17€2.33M€2.39M▲
Other amounts payable178/9€2.33M€2.39M▲
Amounts payable within one year42/48€286k€26k▼
Trade debts44€18k-
Suppliers440/4€18k-
Taxes, remuneration and social security45€101k-
Taxes450/3€101k-
Other amounts payable47/48€167k€26k▼
Income statement
Code20242025
Remuneration, social security and pensions62€125k€114k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k-
Other operating charges640/8€1k€2k▲
Gross operating margin9900€-62k€-61k▲
Operating profit (loss)9901€-193k€-177k▲
Financial income75/76B€78k€41k▼
Recurring financial income75€78k€41k▼
Financial charges65/66B€388k€75k▼
Recurring financial charges65€28k€75k▲
Non-recurring financial charges66B€360k-
Profit (loss) for the period before taxes9903€-502k€-211k▲
Income taxes67/77€-4k-
Profit (loss) for the period9904€-498k€-211k▲
Profit (loss) for the period to be appropriated9905€-498k€-211k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-479k€-690k▼
Profit (loss) brought forward from the previous period14P€19k€-479k▼
The notes to these accounts (7 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Liquidity times 10current ratio 156.36
Current ratio from 15.87 to 156.36; short-term debt falls from €286k to €26k.
03-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 95 days late
2024
31-12
Financial
Weakest financial yearnet €-498k ▼301%
Net result drops to €-498k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
23-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 296 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Etterbeek · 1 establishment unit since 2020
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.
Tervurenlaan 291040 EtterbeekGround area
487 m²
Building footprint
237 m²
Volume, LiDAR
3,305 m³
Parcel 21005A0542/00A005, Brussels · tallest building 22.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
BLUE ELEPHANT GROUP
since 20202.370.052.468
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21005A0542/00A005 | Brussels | 487 m² | 1 · 237 m² | 22.0 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,764. 9,045 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-12-2019
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.