EL-WAY
ActiveEL-WAY has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €20k and a net result of €-20k. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 31% of 15867 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
33
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-70
Solvency40▼-11
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 1.0 against 1.17 in 2023; short-term debt: 68.5% and cash: 0.9% of total assets), and 84.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
15.3%
Return on assets
-14.8%
Age of the figures
21 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
268 d late
2022
59 d late
2021
96 d late
2020
30 d late
2019
89 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€20k▼ 49.2%
2023 · €40k
2018: €30k
2019: €30k
2020: €33k
2021: €38k
2022: €39k
2023: €40k
2018 → 2024
Total assets
€134k▼ 12.7%
2023 · €154k
2018: €108k
2019: €132k
2020: €171k
2021: €175k
2022: €93k
2023: €154k
2018 → 2024
Net result
€-20k
2023 · €2k
2018: €-10k
2019: €442
2020: €3k
2021: €5k
2022: €243
2023: €2k
2018 → 2024
Working capital
€-77
2023 · €14k
2018: €27k
2019: €34k
2020: €45k
2021: €47k
2022: €35k
2023: €14k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€33k-€38k▲ 15.9%€39k▲ 0.6%€40k▲ 4.1%€20k▼ 49.2%
Operating result€4k-€8k▲ 110%€2k▼ 71.4%€5k▲ 138%€-18k
Net result€3k-€5k▲ 84.7%€243▼ 95.4%€2k▲ 556%€-20k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €18k after €5k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €134k
Fixed assets
€42k▼ 23.8%
Current assets
€92k▼ 6.5%
Equity and liabilities €134k
Equity
€20k▼ 49.2%
Debt
€114k▲ 0.2%
The debt ratio rises from 73.8% to 84.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-5k▼
2023 · €13k
Cash flow
€-7k▼
2023 · €10k
Solvency
15.3%▼
2023 · 26.2%
Current ratio
1.00▼
2023 · 1.17
Quick ratio
0.63▼
2023 · 0.77
Debt / equity
5.55▲
2023 · 2.81
ROE
-96.7%▼
2023 · 4.0%
ROA
-14.8%▼
2023 · 1.0%
Interest coverage
-3.17▼
2023 · 9.91
Debt
€114k▲
2023 · €113k
Debt ≤ 1 year
€92k▲
2023 · €84k
Debt > 1 year
€22k▼
2023 · €29k
Income taxes
€396▼
2023 · €2k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€154k€134k▼
Fixed assets21/28€55k€42k▼
Tangible fixed assets22/27€55k€42k▼
Plant, machinery and equipment23€1k€603▼
Furniture and vehicles24€1k€798▼
Leasing and similar rights25€53k€41k▼
Current assets29/58€98k€92k▼
Stocks and contracts in progress3€34k€34k=
Stocks30/36€34k€34k=
Amounts receivable within one year40/41€58k€55k▼
Trade receivables40€45k€52k▲
Other amounts receivable41€13k€3k▼
Cash at bank and in hand54/58€4k€1k▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€154k€134k▼
Equity10/15€40k€20k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€20k€20▼
Amounts payable17/49€113k€114k▲
Amounts payable after more than one year17€29k€22k▼
Financial debts170/4€29k€22k▼
Amounts payable within one year42/48€84k€92k▲
Current portion of amounts payable after more than one year42€7k€8k▲
Trade debts44€20k€26k▲
Suppliers440/4€20k€26k▲
Taxes, remuneration and social security45€18k€22k▲
Taxes450/3€9k€8k▼
Remuneration and social security454/9€8k€14k▲
Other amounts payable47/48€39k€37k▼
Income statement
Code20232024
Remuneration, social security and pensions62€96-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€13k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€16k€-3k▼
Operating profit (loss)9901€5k€-18k▼
Financial income75/76B€51€430▲
Recurring financial income75€51€430▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€4k€-19k▼
Income taxes67/77€2k€396▼
Profit (loss) for the period9904€2k€-20k▼
Profit (loss) for the period to be appropriated9905€2k€-20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€20k€20▼
Profit (loss) brought forward from the previous period14P€18k€20k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 268 days late
2024
31-12
Financial
Weakest financial yearnet €-20k ▼1343%
Net result drops to €-20k, the lowest in the series.
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 96 days late
2021
31-12
Financial
Highest result since 2018net €5k ▲84.7%
Operating result €8k, net result €5k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Back to profitnet €442
Net result €442 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 25 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
20-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 51 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Niel · 1 establishment unit since 2014
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.
Matenstraat 1912845 NielGround area
2,796 m²
Building footprint
856 m²
Volume, LiDAR
4,443 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EL-WAY
since 20142.230.621.995
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11030C0015/00B004 | Flanders | 1,621 m² | 1 · 642 m² | 7.2 m · 2 fl. |
| 11030C0022/00X003 | Flanders | 1,176 m² | 1 · 214 m² | 8.8 m · 2 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.
Similar companies · same sector, comparable size
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TRM9
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PEM België
BE 1006.148.534
Wuustwezel · Eq €24k
Volts
BE 0677.778.293
Kapellen · Eq €16k
WELBESPAAKT
BE 0795.153.540
Blankenberge · Eq €16k
Of 169 companies in sector 46730 we hold annual accounts for 89. 48 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-04-2014
Fiscal year end31-12
Activities, NACEBEL
45401
46730Wholesale trade
41001General construction of residential buildings
43211General electrical installation work
43221Plumbing work
43320Joinery installation
45402
47830Retail sale of motorcycles and motorcycle parts and accessories
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.