BRAIN E-LOG
ActiveSummary
BRAIN E-LOG has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €311,360. Equity is growing by about 37% per year across the filed financial years. Its solvency ranks better than 54% of 858 sector peers (NACE 52, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
- Staff
- 29.6 FTE
- Equity
- €1.2m
- Profit
- €311,360
- Parent
- ECBA
- PICHELIN Mathieu JeanDirector
- ROSKAM Florent Hervé EtienneDirector
Why 83raises riskLatest accounts 52 days late; 3 of the last 3 lateSector: Warehousing and support activities for transportation (NACE 52)lowers riskFounded in 2002Profit of €311,360 (financial year 2025)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 52, small): better than 59% on solvency, 37% on liquidity, 81% on profitability and 50% on growth.
The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 62 days after the deadline; the sector median (NACE 52) for financial year 2024 is 8 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Resignation: CORVEST (director)Correction · Director discharge
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2025 annual accounts filed late (52 days) Filed on 21 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00518055.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 103% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 52, Warehousing and support activities for transportation: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,139 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.7m | €1.3m | €1.4m | €1.5m | ▲ 6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.04m | €0.06m | €0.1m | €0.2m | €0.2m | ▲ 16.3% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.009m | €0.008m | €0.06m | €0.04m | ▼ 28.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.004m | €0.003m | - | - |
| Gross operating margin9900 | €0.3m | €0.4m | €0.8m | €1.4m | €1.4m | €2.4m | €1.8m | €2.1m | ▲ 17.0% |
| Operating profit (loss)9901 | €0.02m | €0.04m | €0.3m | €0.7m | €0.6m | €1.0m | €0.2m | €0.4m | ▲ 103% |
| Financial income75/76B | - | - | - | - | - | - | €0.002m | €0.03m | ▲ 1,887% |
| Recurring financial income75 | €8 | €0.001m | €0.001m | - | - | - | €0.002m | €0.03m | ▲ 1,887% |
| Financial charges65/66B | - | - | - | €0.008m | €0.04m | €0.02m | €0.03m | €0.02m | ▼ 19.8% |
| Recurring financial charges65 | €0.004m | €0.006m | €0.009m | €0.008m | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 19.8% |
| Non-recurring financial charges66B | - | - | - | - | €0.02m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.03m | €0.3m | €0.7m | €0.6m | €1.0m | €0.2m | €0.4m | ▲ 141% |
| Income taxes67/77 | - | €227 | €0.002m | €0.08m | €0.07m | €0.3m | €0.05m | €0.1m | ▲ 113% |
| Profit (loss) for the period9904 | €0.02m | €0.03m | €0.3m | €0.6m | €0.5m | €0.8m | €0.1m | €0.3m | ▲ 152% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €0.04m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.03m | €0.3m | €0.6m | €0.5m | €0.8m | €0.08m | €0.3m | ▲ 281% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.6m | €0.9m | €1.4m | €2.5m | €3.6m | €2.7m | €3.0m | ▲ 11.4% |
| Fixed assets21/28 | €0.04m | €0.05m | €0.1m | €0.1m | €0.3m | €0.6m | €0.6m | €0.5m | ▼ 22.8% |
| Intangible fixed assets21 | €0.003m | €0.003m | €0.001m | €0.04m | €0.03m | €0.02m | €0.008m | €0.002m | ▼ 72.1% |
| Tangible fixed assets22/27 | €0.04m | €0.05m | €0.1m | €0.1m | €0.3m | €0.6m | €0.6m | €0.5m | ▼ 22.2% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.2m | €0.3m | €0.5m | €0.4m | ▼ 20.4% |
| Furniture and vehicles24 | - | - | - | - | €0.1m | €0.2m | €0.1m | €0.08m | ▼ 29.0% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.01m | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 27.2% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.09m | - | - | - |
| Financial fixed assets28 | €95 | €95 | €95 | €95 | €95 | €95 | €95 | €95 | = |
| Current assets29/58 | €0.4m | €0.5m | €0.8m | €1.2m | €2.2m | €3.0m | €2.1m | €2.5m | ▲ 21.9% |
| Stocks and contracts in progress3 | €0.01m | €0.008m | €0.01m | €0.01m | €0.02m | €0.06m | €0.08m | €0.1m | ▲ 36.5% |
| Stocks30/36 | - | - | - | €0.01m | €0.02m | €0.06m | €0.08m | €0.1m | ▲ 36.5% |
| Amounts receivable within one year40/41 | €0.3m | €0.4m | €0.6m | €1.0m | €1.8m | €2.2m | €1.4m | €2.0m | ▲ 35.5% |
| Trade receivables40 | - | - | - | €1.0m | €1.7m | €2.0m | €1.4m | €1.7m | ▲ 22.1% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.09m | €0.2m | €0.03m | €0.2m | ▲ 726% |
| Cash at bank and in hand54/58 | €0.08m | €0.06m | €0.2m | €0.1m | €0.4m | €0.8m | €0.5m | €0.4m | ▼ 27.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.001m | €0.04m | €0.01m | €0.06m | ▲ 397% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.6m | €0.9m | €1.4m | €2.5m | €3.6m | €2.7m | €3.0m | ▲ 11.4% |
| Equity10/15 | €0.04m | €0.07m | €0.1m | €0.4m | €0.7m | €1.4m | €1.2m | €1.2m | ▲ 4.4% |
| Contributions10/11 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Capital10 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Issued capital100 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Uncalled capital101 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.04m | €0.04m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.04m | €0.07m | €0.1m | €0.4m | €0.7m | €1.4m | €1.1m | €1.2m | ▲ 1.0% |
| Investment grants15 | - | - | - | - | - | - | - | €0.04m | - |
| Amounts payable17/49 | €0.4m | €0.5m | €0.8m | €0.9m | €1.9m | €2.2m | €1.5m | €1.7m | ▲ 16.9% |
| Amounts payable after more than one year17 | €0.009m | €0.02m | €0.04m | €0.05m | €0.03m | €0.3m | €0.2m | €0.1m | ▼ 25.3% |
| Financial debts170/4 | - | - | - | €0.05m | €0.03m | €0.3m | €0.2m | €0.1m | ▼ 25.3% |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.7m | €0.9m | €1.8m | €1.9m | €1.3m | €1.6m | ▲ 23.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.1m | €0.2m | €0.09m | €0.07m | ▼ 20.5% |
| Trade debts44 | €0.2m | €0.3m | €0.2m | €0.4m | €1.3m | €1.4m | €0.9m | €0.9m | ▲ 8.6% |
| Suppliers440/4 | - | - | - | €0.4m | €1.3m | €1.4m | €0.9m | €0.9m | ▲ 8.6% |
| Advances received on contracts in progress46 | - | - | - | €0.03m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.3m | €0.3m | €0.3m | ▼ 15.7% |
| Taxes450/3 | - | - | - | €0.04m | €0.007m | €0.1m | €0.1m | €0.1m | ▼ 32.4% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 3.3% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.3m | - | - | €0.3m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,264 | €31,170 | €323,837 | €648,395 | €540,075 | €750,262 | €123,763 | €311,360 | ▲ 152% |
| + Depreciation and write-downs630 | €20,184 | €17,443 | €22,625 | €44,595 | €61,783 | €126,036 | €170,559 | €198,338 | ▲ 16.3% |
| Operating cash flow (approximation) | €36,448 | €48,613 | €346,462 | €692,990 | €601,858 | €876,297 | €294,323 | €509,699 | ▲ 73.2% |
| Investment in fixed assets (approximation) | - | -€29,712 | -€82,332 | -€82,309 | -€219,960 | -€394,303 | -€229,516 | -€53,739 | ▲ 76.6% |
| Change in cash | - | -€16,454 | €101,222 | -€29,664 | €221,030 | €436,262 | -€276,802 | -€139,300 | ▲ 49.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 21-09-2026 | 2026-00518055 |
| 31-12-2024 | full format | 30-09-2025 | 2025-00526019 |
| 31-12-2023 | full format | 08-10-2024 | 2024-00500522 |
| 31-12-2022 | full format | 09-10-2023 | 2023-00480805 |
| 31-12-2021 | full format | 31-08-2022 | 2022-20367982 |
| 31-12-2020 | full format | 25-08-2021 | 2021-54600366 |
| 31-12-2019 | full format | 07-12-2020 | 2020-74800353 |
| 31-12-2018 | full format | 30-08-2019 | 2019-59500059 |
| 31-12-2017 | full format | 19-09-2018 | 2018-63700357 |
| 31-12-2016 | full format | 31-08-2017 | 2017-58200409 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| PICHELIN Mathieu Jean |
|
| ROSKAM Florent Hervé Etienne |
|
| CORVEST |
|
| Maksor |
|
| XMP Consulting |
|
Owners and capital
Owners
4 ownersChain of control
- ECBA
- BRAIN E-LOG
Highest known parent: ECBA. The sources do not say who stands above it.
Owners 4
- ECBAconsolidating parentconsolidates
-
40%
-
33%
-
30%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
29-12
Gazette deed
Resignation: CORVEST (director)Correction · Director discharge8 facts ▸
- General meeting, 01-12-2025
- Correction, “PREMIERE RESOLUTION”, 06-11-2023 (deed in French)
- Director in office, CORVEST (director)
- Director in office, Maksor (director)
- Director in office, XMP Consulting (director)
- Other provision, “administrateur, nomination considérée comme non avenue” (deed in French) (2 times)
- Director resignation, CORVEST (director)
- Director discharge, CORVEST (director)
17-11
Gazette deed
Resignations: CORVEST, Maksor and XMP ConsultingAppointments: ROSKAM Florent Hervé Etienne (director) and PICHELIN Mathieu Jean (director) · Power of attorney · Board rule25 facts ▸
- Power of attorney, Edouard-Jean NAVEZ
- Power of attorney
- Director resignation, CORVEST (manager)
- Director resignation, Maksor (manager)
- Director resignation, XMP Consulting (manager)
- Board rule, 2
- Director appointment, ROSKAM Florent Hervé Etienne (director (not named in the articles))
- Director appointment, PICHELIN Mathieu Jean (director (not named in the articles))
- Registered office clause, “7110 Houdeng-Goegnies, Boulevard de la Technicité, numéro 1a” (deed in French)
- General meeting, “19 heures 30 minutes” (deed in French)
- General meeting, 06-11-2023
- Other provision, “président,secrétaire et scrutateur, bureau de l’assemblée” (deed in French)
- +13 further facts in this act
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteParcel delivery
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 55020B0381/00E000 | Wallonia | 7.1 ha | 1 · 1.6 ha | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Marketing; Etude de marché; Mailing; Manutention; Encodage; L’exécution de travail administratif” (deed in French)
6 activities (deed in French)
- Marketing.
- Etude de marché.
- Mailing.
- Manutention.
- Encodage.
- L’exécution de travail administratif.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- BRAIN E-LOG
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, sièges administratifs,agences,ateliers,dépôts,succursales Belgique et étranger par décision organe d’administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, organe d'administration” (deed in French)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 15 June at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour les modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Pour quelque cause et à quelque moment que ce soit, faculté de l'assemblée générale de désigner un ou plusieurs liquidateurs et de…” (deed in French)