ELAX
ActiveSummary
The computed 12-month bankruptcy probability of ELAX is 1.7% (moderate). The 2025 annual accounts show equity of €85k and a net result of €16k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 63% of 7500 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-18
Solvency81▲+15
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.23 against 1.68 in 2024; short-term debt: 42.4% and cash: 52.7% of total assets), and 43.8% of the assets are financed with debt.
Credit check 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
56.2%
Return on assets
10.5%
Age of the figures
12 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €85k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
67 d late
2021
10 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€85k▲ 23.1%
2024 · €69k
2021: €10k
2022: €-21k▼ -316% vs 2021lowest in 5 years
2023: €19k▲ +188% vs 2022
2024: €69k▲ +264% vs 2023
2025: €85k▲ +23.1% vs 2024highest in 5 years
2021 → 2025
Total assets
€151k▼ 10.4%
2024 · €169k
2021: €50k
2022: €28k▼ -43.5% vs 2021lowest in 5 years
2023: €94k▲ +234% vs 2022
2024: €169k▲ +79.4% vs 2023highest in 5 years
2025: €151k▼ -10.4% vs 2024
2021 → 2025
Net result
€16k▼ 68.1%
2024 · €50k
2021: €6k
2022: €-31k▼ -630% vs 2021lowest in 5 years
2023: €40k▲ +229% vs 2022
2024: €50k▲ +23.9% vs 2023highest in 5 years
2025: €16k▼ -68.1% vs 2024
2021 → 2025
Working capital
€79k▲ 16.7%
2024 · €67k
2021: €627
2022: €-28k▼ -4513% vs 2021lowest in 5 years
2023: €15k▲ +156% vs 2022
2024: €67k▲ +338% vs 2023
2025: €79k▲ +16.7% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€10k-€-21k€19k€69k▲ 264%€85k▲ 23.1%
2021: €10k
2022: €-21k▼ -316% vs 2021lowest in 5 years
2023: €19k▲ +188% vs 2022
2024: €69k▲ +264% vs 2023
2025: €85k▲ +23.1% vs 2024highest in 5 years
Operating result€8k-€-31k€44k€66k▲ 50.6%€23k▼ 65.5%
2021: €8k
2022: €-31k▼ -498% vs 2021lowest in 5 years
2023: €44k▲ +242% vs 2022
2024: €66k▲ +50.6% vs 2023highest in 5 years
2025: €23k▼ -65.5% vs 2024
Net result€6k-€-31k€40k€50k▲ 23.9%€16k▼ 68.1%
2021: €6k
2022: €-31k▼ -630% vs 2021lowest in 5 years
2023: €40k▲ +229% vs 2022
2024: €50k▲ +23.9% vs 2023highest in 5 years
2025: €16k▼ -68.1% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 66% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €151k
Fixed assets
€9k ▲ 407%
Current assets
€143k ▼ 14.6%
Equity and liabilities €151k
Equity
€85k ▲ 23.1%
Debt
€66k ▼ 33.6%
Debt's share of the balance-sheet total falls from 59.1% to 43.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24k▼
2024 · €68k
Cash flow
€17k▼
2024 · €52k
Current ratio
2.23▲
2024 · 1.68
Debt to equity
0.78▼
2024 · 1.44
ROE
18.8%▼
2024 · 72.5%
ROA
10.5%▼
2024 · 29.7%
Interest coverage
9.14▼
2024 · 28.27
Debt ≤ 1 year
€64k▼
2024 · €100k
Income taxes
€5k▼
2024 · €14k
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 · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€169k€151k▼
Fixed assets21/28€2k€9k▲
Tangible fixed assets22/27€2k€9k▲
Plant, machinery and equipment23€2k€9k▲
Furniture and vehicles24€0-
Current assets29/58€167k€143k▼
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€4k€0▼
Contracts in progress37€4k€0▼
Amounts receivable within one year40/41€62k€61k▼
Trade receivables40€48k€48k▼
Other amounts receivable41€14k€13k▼
Cash at bank and in hand54/58€98k€80k▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€169k€151k▼
Equity10/15€69k€85k▲
Contributions10/11€4k€4k=
Reserves13€56k€72k▲
Distributable reserves133€56k€72k▲
Profit (loss) carried forward14€9k€9k▲
Amounts payable17/49€100k€66k▼
Amounts payable within one year42/48€100k€64k▼
Trade debts44€41k€17k▼
Suppliers440/4€41k€17k▼
Advances received on contracts in progress46€11k€21k▲
Taxes, remuneration and social security45€18k€2k▼
Taxes450/3€18k€2k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€30k€25k▼
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€2k€288▼
Gross operating margin9900€70k€24k▼
Operating profit (loss)9901€66k€23k▼
Financial income75/76B€220€286▲
Recurring financial income75€220€286▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€64k€20k▼
Income taxes67/77€14k€5k▼
Profit (loss) for the period9904€50k€16k▼
Profit (loss) for the period to be appropriated9905€50k€16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€59k€25k▼
Profit (loss) brought forward from the previous period14P€9k€9k▲
Transfer to equity691/2€50k€16k▼
To other reserves6921€50k€16k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €2k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €4k | €4k | €2k | €1k | ▼ 45.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €16k | €12k | €0 | - | - |
| Other operating charges640/8 | €861 | €799 | €373 | €2k | €288 | ▼ 83.8% |
| Gross operating margin9900 | €11k | €-10k | €63k | €70k | €24k | ▼ 65.5% |
| Operating profit (loss)9901 | €8k | €-31k | €44k | €66k | €23k | ▼ 65.5% |
| Financial income75/76B | €351 | €186 | €447 | €220 | €286 | ▲ 29.8% |
| Recurring financial income75 | €351 | €186 | €447 | €220 | €286 | ▲ 29.8% |
| Financial charges65/66B | €977 | €674 | €1k | €2k | €3k | ▲ 8.3% |
| Recurring financial charges65 | €977 | €674 | €1k | €2k | €3k | ▲ 8.3% |
| Profit (loss) for the period before taxes9903 | €7k | €-31k | €43k | €64k | €20k | ▼ 68.0% |
| Income taxes67/77 | €1k | €0 | €3k | €14k | €5k | ▼ 67.5% |
| Profit (loss) for the period9904 | €6k | €-31k | €40k | €50k | €16k | ▼ 68.1% |
| Profit (loss) for the period to be appropriated9905 | €6k | €-31k | €40k | €50k | €16k | ▼ 68.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50k | €28k | €94k | €169k | €151k | ▼ 10.4% |
| Fixed assets21/28 | €9k | €6k | €4k | €2k | €9k | ▲ 407% |
| Tangible fixed assets22/27 | €9k | €6k | €4k | €2k | €9k | ▲ 407% |
| Plant, machinery and equipment23 | €8k | €6k | €3k | €2k | €9k | ▲ 407% |
| Furniture and vehicles24 | €870 | €483 | €113 | €0 | - | - |
| Current assets29/58 | €41k | €22k | €90k | €167k | €143k | ▼ 14.6% |
| Amounts receivable after more than one year29 | - | €3k | €3k | €0 | - | - |
| Other amounts receivable291 | - | €3k | €3k | €0 | - | - |
| Stocks and contracts in progress3 | €3k | €3k | €4k | €4k | €0 | ▼ 100% |
| Contracts in progress37 | €3k | €3k | €4k | €4k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €12k | €10k | €78k | €62k | €61k | ▼ 1.6% |
| Trade receivables40 | €8k | €10k | €65k | €48k | €48k | ▼ 0.2% |
| Other amounts receivable41 | €4k | €0 | €13k | €14k | €13k | ▼ 6.5% |
| Cash at bank and in hand54/58 | €24k | €6k | €4k | €98k | €80k | ▼ 18.8% |
| Deferred charges and accrued income490/1 | €2k | €0 | €1k | €2k | €2k | ▼ 18.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50k | €28k | €94k | €169k | €151k | ▼ 10.4% |
| Equity10/15 | €10k | €-21k | €19k | €69k | €85k | ▲ 23.1% |
| Contributions10/11 | €4k | €4k | €4k | €4k | €4k | = |
| Reserves13 | €6k | €6k | €6k | €56k | €72k | ▲ 28.4% |
| Distributable reserves133 | €6k | €6k | €6k | €56k | €72k | ▲ 28.4% |
| Profit (loss) carried forward14 | - | €-31k | €9k | €9k | €9k | ▲ 0.6% |
| Amounts payable17/49 | €40k | €50k | €75k | €100k | €66k | ▼ 33.6% |
| Amounts payable within one year42/48 | €40k | €50k | €75k | €100k | €64k | ▼ 35.7% |
| Trade debts44 | €20k | €23k | €44k | €41k | €17k | ▼ 59.7% |
| Suppliers440/4 | €20k | €23k | €44k | €41k | €17k | ▼ 59.7% |
| Advances received on contracts in progress46 | - | €11k | €5k | €11k | €21k | ▲ 95.0% |
| Taxes, remuneration and social security45 | €9k | €9k | €25k | €18k | €2k | ▼ 88.5% |
| Taxes450/3 | €3k | €6k | €5k | €18k | €2k | ▼ 88.5% |
| Remuneration and social security454/9 | €7k | €4k | €20k | €0 | - | - |
| Other amounts payable47/48 | €11k | €6k | €975 | €30k | €25k | ▼ 16.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €-31k | €40k | €50k | €16k | ▼ 68.1% |
| + Depreciation and write-downs630 | €3k | €4k | €4k | €2k | €1k | ▼ 45.1% |
| Operating cash flow (approximation) | €9k | €-27k | €45k | €52k | €17k | ▼ 67.3% |
| Investment in fixed assets (approximation) | - | €-1k | €-2k | €0 | €-8k | - |
| Change in cash | - | €-18k | €-3k | €94k | €-18k | ▼ 120% |
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
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2021net €50k ▲23.9%
Operating result €66k, net result €50k, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €40k
Net result €40k after one loss-making year.
30-09
Financial
Liquidity triplescurrent ratio 1.20
Current ratio from 0.44 to 1.20.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
30-09
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series; recovery starts the following year.
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Brugge · 1 establishment unit since 2020
Ground area
767 m²
Building footprint
96 m²
Volume, LiDAR
588 m³
Parcel 31014B0370/00M003, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ELAX
since 20202.349.557.655
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31014B0370/00M003 | Flanders | 767 m² | 1 · 96 m² | 10.3 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 · 195 EUR awarded · 195 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 195 EUR | 195 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 13,175 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
Founded19-05-2020
Fiscal year end30-09
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
Contact
E-mail
frederik.schillewaert@gmail.comBrugge
Scores and ratios are computed by Checked and are not a credit decision.