E.L.E. MASHAL
ActiveE.L.E. MASHAL has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €25k and a net result of €2k. Equity is growing by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 11297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▲+17
Solvency100▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 25.4 against 3.05 in 2024; short-term debt: 3.9% and cash: 0.7% of total assets), and 3.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
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
96.1%
Return on assets
7.6%
Age of the figures
9 mo
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
29 d late
2023
64 d early
2022
24 d late
2021
30 d late
2020
20 d late
2019
56 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€25k▲ 8.6%
2024 · €23k
2018: €-3k
2019: €2k
2020: €14k
2021: €21k
2022: €24k
2023: €25k
2024: €23k
2018 → 2025
Total assets
€26k▼ 23.7%
2024 · €34k
2018: €1k
2019: €5k
2020: €19k
2021: €26k
2022: €29k
2023: €28k
2024: €34k
2018 → 2025
Net result
€2k
2024 · €-2k
2018: €-6k
2019: €5k
2020: €12k
2021: €7k
2022: €3k
2023: €1k
2024: €-2k
2018 → 2025
Working capital
€25k▲ 9.8%
2024 · €23k
2018: €-3k
2019: €2k
2020: €14k
2021: €21k
2022: €23k
2023: €18k
2024: €23k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€21k-€24k▲ 16.2%€25k▲ 4.5%€23k▼ 8.8%€25k▲ 8.6%
Operating result€7k-€4k▼ 38.6%€2k▼ 53.0%€-3k€2k
Net result€7k-€3k▼ 49.9%€1k▼ 67.6%€-2k€2k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2k after a loss of €3k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €26k
Equity
€25k▲ 8.6%
Debt
€1k▼ 90.8%
The debt ratio falls from 32.6% to 3.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3k▼
2024 · €4k
Cash flow
€2k▼
2024 · €4k
Solvency
96.1%▲
2024 · 67.4%
Current ratio
25.40▲
2024 · 3.05
Quick ratio
25.40▲
2024 · 3.05
Debt / equity
0.04▼
2024 · 0.48
ROE
7.9%▲
2024 · -9.7%
ROA
7.6%▲
2024 · -6.5%
Interest coverage
8.89▼
2024 · 16.99
Debt
€1k▼
2024 · €11k
Debt ≤ 1 year
€1k▼
2024 · €11k
Income taxes
€46
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€34k€26k▼
Formation expenses20-€0
Fixed assets21/28€238€0▼
Tangible fixed assets22/27€238€0▼
Plant, machinery and equipment23€238€0▼
Furniture and vehicles24-€0
Current assets29/58€34k€26k▼
Amounts receivable after more than one year29€33k€25k▼
Other amounts receivable291€33k€25k▼
Amounts receivable within one year40/41€854€30▼
Other amounts receivable41€854€30▼
Cash at bank and in hand54/58-€170
Deferred charges and accrued income490/1-€502
Equity and liabilities
Total equity and liabilities10/49€34k€26k▼
Equity10/15€23k€25k▲
Contributions10/11€6k€6k=
Reserves13€17k€19k▲
Distributable reserves133€17k€19k▲
Amounts payable17/49€11k€1k▼
Amounts payable within one year42/48€11k€1k▼
Financial debts43€247-
Credit institutions430/8€247-
Trade debts44€10k€972▼
Suppliers440/4€10k€972▼
Taxes, remuneration and social security45€643€46▼
Taxes450/3€643€46▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€238▼
Other operating charges640/8€431€741▲
Gross operating margin9900€4k€3k▼
Operating profit (loss)9901€-3k€2k▲
Financial income75/76B€848-
Recurring financial income75€848-
Financial charges65/66B€226€286▲
Recurring financial charges65€226€286▲
Profit (loss) for the period before taxes9903€-2k€2k▲
Income taxes67/77-€46
Profit (loss) for the period9904€-2k€2k▲
Profit (loss) for the period to be appropriated9905€-2k€2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2k€2k▲
Transfer from equity791/2€2k-
Transfer to equity691/2-€2k
To other reserves6921-€2k
The notes to these accounts (4 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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Liquidity times 8current ratio 25.40
Current ratio from 3.05 to 25.40; short-term debt falls from €11k to €1k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Highest result since 2018net €12k ▲139%
Operating result €12k, net result €12k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.89
Current ratio from 1.92 to 3.89.
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.92
Current ratio from 0.36 to 1.92; short-term debt falls from €4k to €3k.
07-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 68 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Dilbeek · 2 establishment units since 2017
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.
Kalenbergstraat 351700 DilbeekGround area
1,809 m²
Building footprint
367 m²
Volume, LiDAR
4,179 m³
2 parcels, Flanders · tallest building 18.7 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
E.L.E. MASHAL
since 20172.263.861.026
THOTH GOLD & DIAMOND
since 20262.382.711.562
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23075A0151/00L000 | Flanders | 1,104 m² | 1 · 116 m² | 8.3 m · 2 fl. |
| 23352F0033/00B003 | Flanders | 705 m² | 1 · 251 m² | 18.7 m · 5 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.
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Of 6,155 companies in sector 46190 we hold annual accounts for 2,570. 1,732 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded18-06-2012
Fiscal year end31-12
Activities, NACEBEL
46190Agents in non-specialised wholesale trade
43120Site preparation
43910Bricklaying and masonry work
43994Specialised construction activities
46861Wholesale of diamonds and other precious stones
49320Taxi operation
49330On-demand passenger transport by chauffeured vehicle
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.