EL-TEC
ActiveSummary
EL-TEC has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €56k and a net result of €30k. Equity is shrinking by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 22% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▼-2
Solvency45▲+7
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.07 in 2023; short-term debt: 49.2% and cash: 0.5% of total assets), and 79.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
20.1%
Return on assets
10.6%
Age of the figures
21 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 22%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €56k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
43 d early
2022
35 d early
2021
36 d early
2020
40 d early
2019
30 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€56k▲ 98.2%
2023 · €28k
2018: €53k
2019: €75k▲ +42.3% vs 2018highest in 7 years
2020: €65k▼ -14.2% vs 2019
2021: €70k▲ +8.6% vs 2020
2022: €9k▼ -87.8% vs 2021lowest in 7 years
2023: €28k▲ +233% vs 2022
2024: €56k▲ +98.2% vs 2023
2018 → 2024
Total assets
€281k▲ 32.7%
2023 · €212k
2018: €146klowest in 7 years
2019: €215k▲ +47.4% vs 2018
2020: €360k▲ +67.6% vs 2019highest in 7 years
2021: €279k▼ -22.7% vs 2020
2022: €210k▼ -24.7% vs 2021
2023: €212k▲ +1.0% vs 2022
2024: €281k▲ +32.7% vs 2023
2018 → 2024
Net result
€30k▲ 14.5%
2023 · €26k
2018: €17k
2019: €24k▲ +43.4% vs 2018
2020: €5k▼ -78.1% vs 2019
2021: €7k▲ +35.6% vs 2020
2022: €-62k▼ -964% vs 2021lowest in 7 years
2023: €26k▲ +142% vs 2022
2024: €30k▲ +14.5% vs 2023highest in 7 years
2018 → 2024
Working capital
€24k▲ 243%
2023 · €7k
2018: €41k
2019: €56k▲ +37.7% vs 2018highest in 7 years
2020: €39k▼ -29.9% vs 2019
2021: €47k▲ +19.8% vs 2020
2022: €-7k▼ -114% vs 2021lowest in 7 years
2023: €7k▲ +208% vs 2022
2024: €24k▲ +243% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€65k-€70k▲ 8.6%€9k▼ 87.8%€28k▲ 233%€56k▲ 98.2%
2020: €65k
2021: €70k▲ +8.6% vs 2020highest in 5 years
2022: €9k▼ -87.8% vs 2021lowest in 5 years
2023: €28k▲ +233% vs 2022
2024: €56k▲ +98.2% vs 2023
Operating result€11k-€15k▲ 35.1%€-55k€30k€40k▲ 34.0%
2020: €11k
2021: €15k▲ +35.1% vs 2020
2022: €-55k▼ -478% vs 2021lowest in 5 years
2023: €30k▲ +154% vs 2022
2024: €40k▲ +34.0% vs 2023highest in 5 years
Net result€5k-€7k▲ 35.6%€-62k€26k€30k▲ 14.5%
2020: €5k
2021: €7k▲ +35.6% vs 2020
2022: €-62k▼ -964% vs 2021lowest in 5 years
2023: €26k▲ +142% vs 2022
2024: €30k▲ +14.5% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 34% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €281k
Fixed assets
€119k ▲ 20.2%
Current assets
€163k ▲ 43.5%
Equity and liabilities €281k
Equity
€56k ▲ 98.2%
Debt
€225k ▲ 22.5%
Debt's share of the balance-sheet total falls from 86.6% to 79.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€52k▲
2023 · €43k
Cash flow
€42k▲
2023 · €39k
Current ratio
1.18▲
2023 · 1.07
Quick ratio
0.79▲
2023 · 0.68
Debt to equity
3.98▼
2023 · 6.44
ROE
52.6%▼
2023 · 91.0%
ROA
10.6%▼
2023 · 12.2%
Interest coverage
11.22▼
2023 · 12.13
Debt ≤ 1 year
€138k▲
2023 · €106k
Debt > 1 year
€87k▲
2023 · €77k
Income taxes
€6k▲
2023 · €339
Staff costs
€244k▲
2023 · €216k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€212k€281k▲
Fixed assets21/28€99k€119k▲
Tangible fixed assets22/27€95k€115k▲
Land and buildings22€94k€86k▼
Plant, machinery and equipment23-€1k
Furniture and vehicles24€722€28k▲
Financial fixed assets28€4k€4k▼
Current assets29/58€113k€163k▲
Stocks and contracts in progress3€41k€53k▲
Stocks30/36€11k€9k▼
Contracts in progress37€30k€44k▲
Amounts receivable within one year40/41€46k€105k▲
Trade receivables40€32k€78k▲
Other amounts receivable41€14k€27k▲
Cash at bank and in hand54/58€23k€1k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€212k€281k▲
Equity10/15€28k€56k▲
Contributions10/11€12k€12k=
Reserves13€54k€54k=
Distributable reserves133€54k€54k=
Profit (loss) carried forward14€-37k€-9k▲
Amounts payable17/49€184k€225k▲
Amounts payable after more than one year17€77k€87k▲
Financial debts170/4€77k€87k▲
Amounts payable within one year42/48€106k€138k▲
Current portion of amounts payable after more than one year42€15k€18k▲
Trade debts44€61k€94k▲
Suppliers440/4€61k€94k▲
Taxes, remuneration and social security45€18k€20k▲
Taxes450/3€5k€5k▼
Remuneration and social security454/9€13k€15k▲
Other amounts payable47/48€11k€7k▼
Income statement
Code20232024
Remuneration, social security and pensions62€216k€244k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€12k▼
Other operating charges640/8€3k€3k▲
Non-recurring operating charges66A€126€116▼
Gross operating margin9900€262k€299k▲
Operating profit (loss)9901€30k€40k▲
Financial income75/76B€15€76▲
Recurring financial income75€15€76▲
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€26k€35k▲
Income taxes67/77€339€6k▲
Profit (loss) for the period9904€26k€30k▲
Profit (loss) for the period to be appropriated9905€26k€30k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-36k€-8k▲
Profit (loss) brought forward from the previous period14P€-62k€-37k▲
Transfer from equity791/2€4k-
Profit to be distributed694/7€6k€2k▼
Return on contributions (dividend)694€6k€2k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €179k | €170k | €216k | €244k | ▲ 12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €27k | €23k | €13k | €12k | ▼ 7.4% |
| Other operating charges640/8 | - | €2k | €2k | €3k | €3k | ▲ 5.1% |
| Non-recurring operating charges66A | - | €440 | €74 | €126 | €116 | ▼ 8.0% |
| Gross operating margin9900 | €174k | €224k | €140k | €262k | €299k | ▲ 14.2% |
| Operating profit (loss)9901 | €11k | €15k | €-55k | €30k | €40k | ▲ 34.0% |
| Financial income75/76B | - | €18 | €20 | €15 | €76 | ▲ 407% |
| Recurring financial income75 | €38 | €18 | €20 | €15 | €76 | ▲ 407% |
| Financial charges65/66B | - | €4k | €6k | €4k | €5k | ▲ 31.2% |
| Recurring financial charges65 | €5k | €4k | €6k | €4k | €5k | ▲ 31.2% |
| Profit (loss) for the period before taxes9903 | €6k | €11k | €-61k | €26k | €35k | ▲ 34.6% |
| Income taxes67/77 | €708 | €4k | €372 | €339 | €6k | ▲ 1,571% |
| Profit (loss) for the period9904 | €5k | €7k | €-62k | €26k | €30k | ▲ 14.5% |
| Profit (loss) for the period to be appropriated9905 | €5k | €7k | €-62k | €26k | €30k | ▲ 14.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €360k | €279k | €210k | €212k | €281k | ▲ 32.7% |
| Fixed assets21/28 | €161k | €132k | €108k | €99k | €119k | ▲ 20.2% |
| Tangible fixed assets22/27 | €158k | €130k | €107k | €95k | €115k | ▲ 21.1% |
| Land and buildings22 | - | €111k | €103k | €94k | €86k | ▼ 9.0% |
| Plant, machinery and equipment23 | - | €224 | €112 | - | €1k | - |
| Furniture and vehicles24 | - | €19k | €4k | €722 | €28k | ▲ 3,788% |
| Financial fixed assets28 | €4k | €2k | €330 | €4k | €4k | ▼ 4.2% |
| Current assets29/58 | €199k | €146k | €102k | €113k | €163k | ▲ 43.5% |
| Stocks and contracts in progress3 | €21k | €28k | €42k | €41k | €53k | ▲ 30.0% |
| Stocks30/36 | - | €10k | €11k | €11k | €9k | ▼ 20.7% |
| Contracts in progress37 | - | €19k | €31k | €30k | €44k | ▲ 49.6% |
| Amounts receivable within one year40/41 | €93k | €115k | €58k | €46k | €105k | ▲ 128% |
| Trade receivables40 | - | €93k | €43k | €32k | €78k | ▲ 141% |
| Other amounts receivable41 | - | €22k | €14k | €14k | €27k | ▲ 96.4% |
| Cash at bank and in hand54/58 | €42k | €319 | - | €23k | €1k | ▼ 94.4% |
| Deferred charges and accrued income490/1 | - | €3k | €3k | €3k | €3k | ▲ 7.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €360k | €279k | €210k | €212k | €281k | ▲ 32.7% |
| Equity10/15 | €65k | €70k | €9k | €28k | €56k | ▲ 98.2% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €52k | €58k | €58k | €54k | €54k | = |
| Distributable reserves133 | - | €58k | €58k | €54k | €54k | = |
| Profit (loss) carried forward14 | - | - | €-62k | €-37k | €-9k | ▲ 74.7% |
| Amounts payable17/49 | €296k | €208k | €201k | €184k | €225k | ▲ 22.5% |
| Amounts payable after more than one year17 | €136k | €109k | €93k | €77k | €87k | ▲ 11.9% |
| Financial debts170/4 | - | €109k | €93k | €77k | €87k | ▲ 11.9% |
| Amounts payable within one year42/48 | €160k | €99k | €109k | €106k | €138k | ▲ 30.2% |
| Current portion of amounts payable after more than one year42 | - | €26k | €17k | €15k | €18k | ▲ 17.6% |
| Financial debts43 | - | - | €15k | - | - | - |
| Credit institutions430/8 | - | - | €15k | - | - | - |
| Trade debts44 | €88k | €50k | €43k | €61k | €94k | ▲ 53.2% |
| Suppliers440/4 | - | €50k | €43k | €61k | €94k | ▲ 53.2% |
| Taxes, remuneration and social security45 | - | €16k | €15k | €18k | €20k | ▲ 6.8% |
| Taxes450/3 | - | €5k | €5k | €5k | €5k | ▼ 3.8% |
| Remuneration and social security454/9 | - | €11k | €10k | €13k | €15k | ▲ 10.7% |
| Other amounts payable47/48 | - | €7k | €20k | €11k | €7k | ▼ 38.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €7k | €-62k | €26k | €30k | ▲ 14.5% |
| + Depreciation and write-downs630 | €24k | €27k | €23k | €13k | €12k | ▼ 7.4% |
| Operating cash flow (approximation) | €29k | €35k | €-39k | €39k | €42k | ▲ 7.2% |
| Investment in fixed assets (approximation) | - | €1k | €2k | €-4k | €-32k | ▼ 688% |
| Change in cash | - | €-42k | - | - | €-22k | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €30k ▲14.5%
Net result €30k, the highest in the series.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €26k
Net result €26k after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-62k
Net result drops to €-62k, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Gent · 1 establishment unit since 2014
Ground area
626 m²
Building footprint
134 m²
Volume, LiDAR
868 m³
Parcel 44038A0367/57C002, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EL-TEC
since 20142.231.658.907
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44038A0367/57C002 | Flanders | 626 m² | 1 · 134 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 297 EUR awarded · 297 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 297 EUR | 297 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
3 categoriesEL-TEC BV35574
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 8,649 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
Scores and ratios are computed by Checked and are not a credit decision.