DEN ELS
ActiveSummary
DEN ELS has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€31,279) and a net result of €19,142. Equity is growing by about 14% per year across the filed financial years. Its solvency ranks better than 5% of 20,620 sector peers (NACE 86, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- -€31,279
- Profit
- €19,142
- Largest shareholder
- DOKTER VAN ELSEN PHILIPPE · 33.33%
- PILAET Ann Sarah BetinaDirector
- VAN ELSEN Philippe Louis SeraphineDirector
Why 55raises riskCapped at 59: negative equityNegative equity -€31,279lowers riskSector: Human health activities (NACE 86)Size: total assets €290,695Liquidity: current ratio 3.11, cash €170,304Show the evidence
Checked score
Fewer than 1 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 86, micro): better than 3% on solvency, 80% on liquidity, 21% on profitability and 76% on growth.
The bankruptcy probability was computed on 27-10-2026 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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Signals
This company filed its last 7 accounts on average 12 days before the deadline; the sector median (NACE 86) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Annual accounts filedfinancial year 2023 · abbreviated…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 14% 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 86, Human health activities: 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 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 91.9% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 0.9% |
| 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 3,632 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 | - | - | - | €64,029 | €57,977 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,178 | €60,752 | €56,341 | €53,477 | €46,866 | €37,341 | €37,296 | €37,296 | = |
| Other operating charges640/8 | - | - | - | €2,663 | €3,484 | €2,542 | €2,560 | €2,534 | ▼ 1.0% |
| Gross operating margin9900 | €125,135 | €131,790 | €114,350 | €130,585 | €168,874 | €75,606 | €61,466 | €64,419 | ▲ 4.8% |
| Operating profit (loss)9901 | €5,904 | €11,544 | -€15,478 | €10,417 | €60,546 | €35,723 | €21,610 | €24,589 | ▲ 13.8% |
| Financial income75/76B | - | - | - | €5 | - | - | - | - | - |
| Recurring financial income75 | - | €0 | €0 | €5 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €8,688 | €8,101 | €7,255 | €6,273 | €5,446 | ▼ 13.2% |
| Recurring financial charges65 | €10,828 | €10,237 | €9,458 | €8,688 | €8,101 | €7,255 | €6,273 | €5,446 | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | -€4,924 | €1,307 | -€24,936 | €1,734 | €52,445 | €28,468 | €15,338 | €19,142 | ▲ 24.8% |
| Profit (loss) for the period9904 | -€4,924 | €1,307 | -€24,936 | €1,734 | €52,445 | €28,468 | €15,338 | €19,142 | ▲ 24.8% |
| Profit (loss) for the period to be appropriated9905 | -€4,924 | €1,307 | -€24,936 | €1,734 | €52,445 | €28,468 | €15,338 | €19,142 | ▲ 24.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €594,210 | €545,860 | €463,450 | €415,516 | €416,173 | €369,317 | €328,536 | €290,695 | ▼ 11.5% |
| Fixed assets21/28 | €479,054 | €439,288 | €382,948 | €329,471 | €281,174 | €185,890 | €148,595 | €111,299 | ▼ 25.1% |
| Intangible fixed assets21 | €307 | €1,936 | €1,452 | €968 | - | - | - | - | - |
| Tangible fixed assets22/27 | €478,746 | €437,352 | €381,496 | €328,503 | €281,174 | €185,890 | €148,595 | €111,299 | ▼ 25.1% |
| Land and buildings22 | - | - | - | €53,333 | €45,249 | €185,890 | €148,595 | €111,299 | ▼ 25.1% |
| Furniture and vehicles24 | - | - | - | €463 | - | - | - | - | - |
| Leasing and similar rights25 | - | - | - | €274,707 | €235,925 | €0 | - | - | - |
| Current assets29/58 | €115,157 | €106,572 | €80,503 | €86,045 | €134,999 | €183,427 | €179,941 | €179,396 | ▼ 0.3% |
| Amounts receivable within one year40/41 | €9,331 | €12,868 | €9,157 | €9,157 | €9,157 | €20,204 | €9,093 | €9,093 | = |
| Trade receivables40 | - | - | - | €9,093 | €9,093 | €20,204 | €9,093 | €9,093 | = |
| Other amounts receivable41 | - | - | - | €64 | €64 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €103,306 | €89,385 | €69,243 | €38,401 | €92,127 | €163,223 | €170,849 | €170,304 | ▼ 0.3% |
| Deferred charges and accrued income490/1 | - | - | - | €38,487 | €33,715 | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €594,210 | €545,860 | €463,450 | €415,516 | €416,173 | €369,317 | €328,536 | €290,695 | ▼ 11.5% |
| Equity10/15 | -€124,776 | -€123,469 | -€148,405 | -€146,671 | -€94,226 | -€65,759 | -€50,421 | -€31,279 | ▲ 38.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Profit (loss) carried forward14 | -€143,376 | -€142,069 | -€167,005 | -€165,271 | -€112,826 | -€84,359 | -€69,021 | -€49,879 | ▲ 27.7% |
| Amounts payable17/49 | €718,986 | €669,329 | €611,856 | €562,187 | €510,399 | €435,076 | €378,957 | €321,974 | ▼ 15.0% |
| Amounts payable after more than one year17 | €650,898 | €598,003 | €544,353 | €489,935 | €434,740 | €378,757 | €321,974 | €264,380 | ▼ 17.9% |
| Financial debts170/4 | - | - | - | €489,935 | €434,740 | €378,757 | €321,974 | €264,380 | ▼ 17.9% |
| Amounts payable within one year42/48 | €63,271 | €66,466 | €62,637 | €68,949 | €72,549 | €56,319 | €56,983 | €57,594 | ▲ 1.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €54,417 | €55,195 | €55,983 | €56,783 | €57,594 | ▲ 1.4% |
| Trade debts44 | €4,010 | €3,618 | €4,582 | €5,784 | €12,121 | €335 | €200 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €5,784 | €12,121 | €335 | €200 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €4,343 | €5,233 | €0 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €4,343 | €5,233 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €4,404 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €3,304 | €3,110 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,924 | €1,307 | -€24,936 | €1,734 | €52,445 | €28,468 | €15,338 | €19,142 | ▲ 24.8% |
| + Depreciation and write-downs630 | €56,178 | €60,752 | €56,341 | €53,477 | €46,866 | €37,341 | €37,296 | €37,296 | = |
| Operating cash flow (approximation) | €51,254 | €62,058 | €31,405 | €55,210 | €99,311 | €65,809 | €52,633 | €56,438 | ▲ 7.2% |
| Investment in fixed assets (approximation) | - | -€20,986 | €0 | €0 | €1,431 | €57,942 | €0 | €0 | - |
| Change in cash | - | -€13,921 | -€20,142 | -€30,841 | €53,726 | €71,096 | €7,625 | -€545 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 03-06-2026 | 2026-00135264 |
| 31-12-2024 | abbreviated format | 10-06-2025 | 2025-00129041 |
| 31-12-2023 | abbreviated format | 13-06-2024 | 2024-00131090 |
| 31-12-2022 | abbreviated format | 21-08-2023 | 2023-00340239 |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20231385 |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-57000206 |
| 31-12-2019 | micro format | 28-08-2020 | 2020-46400359 |
| 31-12-2018 | micro format | 08-07-2019 | 2019-29900466 |
| 31-12-2017 | micro format | 20-08-2018 | 2018-47300462 |
| 31-12-2016 | micro format | 24-08-2017 | 2017-48300072 |
Similar companies · same sector and region
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 |
|---|---|
| PILAET Ann Sarah Betina |
|
| VAN ELSEN Philippe Louis Seraphine |
|
| BREESCH Riet Angèle Lieve |
|
Owners and capital
Owners
1 ownerOwners 1
-
33.33%
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.
Capital and shareholders
- 02-10-2023 Converted to unavailable equity · €18,600
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
02-10
Gazette deed
Resignation: BREESCH Riet Angèle Lieve (director)Reappointments: VAN ELSEN Philippe Louis Seraphine (director) and PILAET Ann Sarah Betina (director) · Amendment of the articles · Legal-form conversion17 facts ▸
- General meeting, 25-09-2023
- Amendment of the articles
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffen en beschikbaar maken voor uitkering, statutair onbeschikbare eigen vermogensrekening aangelegd bij toepassing artikel 39,§2,tweede lid wet 23 maart 201…” (deed in Dutch)
- Other provision, “éénparigheid van stemmen, beëindiging uitoefening beroep van arts” (deed in Dutch)
- Purpose change
- Transfer restriction, “éénparigheid van stemmen, helft overdrager en helft koper(s) naar evenredigheid verworven aantal,ook bij weigering erfgenaam of legataris” (deed in Dutch)
- Other provision, “éénparigheid van stemmen, invoering schriftelijke en elektronische algemene vergadering” (deed in Dutch)
- General meeting, “als gevolg van de voorgaande beslissingen” (deed in Dutch)
- Name clause, DEN ELS
- Capital
- +5 further facts in this act
Show earlier events
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has 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 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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 |
|---|---|---|---|---|
| 11031C0501/00Z002 | Flanders | 5,629 m² | 1 · 402 m² | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het aanleggen, het oordeelkundig uitbouwen en het beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende…” (deed in Dutch)
9 activities (deed in Dutch)
- Het aanleggen, het oordeelkundig uitbouwen en het beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen of zakelijke rechten daarop, in België of in het buitenland, zoals de aan- en verkoop, de bouw, de verbouwing, de binnenhuisinrichting en decoratie, de huur en verhuur, de ruil, de verkaveling en in het algemeen alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het beheer of op het productief maken van onroerende goederen of onroerende zakelijke rechten;
- Het aanleggen, het oordeelkundig uitbouwen en het beheren van een roerend vermogen; alle verrichtingen met betrekking tot roerende goederen en rechten, van welke aard, zoals de aan- en verkoop, de huur en verhuur, de ruil; in het bijzonder het beheer en de valorisatie van alle verhandelbare waardepapieren, aandelen, obligaties, staatsfondsen, en dergelijke;
- Het verwerven en aanhouden van participaties, in eender welke vorm, in alle bestaande of op te richten industriële, commerciële, financiële, vennootschappen of ondernemingen, alsook in alle landbouw- of immobiliënvennootschappen of ondernemingen; het stimuleren, de planning en coördinatie van de ontwikkeling van de vennootschappen en ondernemingen waarin ze een participatie aanhoudt; het deelnemen aan hun beheer, bestuur, vereffening en toezicht alsmede het verlenen van technische, administratieve en financiële bijstand aan deze vennootschappen en ondernemingen;
- Het deelnemen aan het beheer, het bestuur, de vereffening en het toezicht, alsmede het verlenen van technische, administratieve en financiële bijstand aan alle mogelijke vennootschappen en ondernemingen;
- Het verlenen van bijstand, advies en leiding aan bedrijven, privé-personen en instellingen, voornamelijk doch niet uitsluitend op het vlak van management, administratie, marketing, productie en ontwikkeling, processing en het besturen van vennootschappen, dit alles in de meest ruime betekenis;
- Het toestaan van leningen, kredietopeningen, kasvoorschotten aan derden en het optreden als tussenpersoon voor spaar- en beleggingsproducten, alsmede het verlenen van adviezen voor beleggingen (gereglementeerde bankfuncties of spaarkasfuncties niet inbegrepen);
- Het optreden als gevolmachtigde van derden;
- Het verlenen van borgstellingen in voordeel van derden, hierin begrepen rechtspersonen;
- Optreden als makelaar en/of agent voor/van alle verzekeringsmaatschappijen.
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, besluit van het bestuursorgaan” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Voor de duur van haar bestaan, 1” (deed in Dutch)“Ten laste van algemene kosten, algemene vergadering” (deed in Dutch)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Overdracht onder levenden, overdracht aandelen-goedkeuring” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en op welk ogenblik ook, bevoegdheden en vergoeding” (deed in Dutch)