ELBEFAR
ActiveSummary
ELBEFAR has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of -€38,560. Equity is growing by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 77% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-5
Solvency90▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 3.24 against 5.07 in 2024; short-term debt: 14.2% and cash: 9.4% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Five 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
4 d late
2023
on the day
2022
1 d early
2021
on the day
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average on the deadline day; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by total assets in Glabbeek, Wholesale and retail trade sector#3 company by equity in Glabbeek, Wholesale and retail trade sector
Equity
€1.7m▼ 2.2%
2024 · €1.7m
Total assets
€2.6m▲ 31.5%
2024 · €2.0m
Net result
-€38,560
2024 · €55,151
Working capital
€838,707▼ 11.1%
2024 · €943,830
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€196,167▼ 13.3%€135,733▼ 30.8%€5,601▼ 95.9%€63,127▲ 1,027%-€36,764
Net result€130,977above the sector's middle half▼ 5.4%€84,489within the sector's middle half▼ 35.5%€46,257within the sector's middle half▼ 45.3%€55,151within the sector's middle half▲ 19.2%-€38,560below the sector's middle half
Equity€1.1mabove the sector's middle half▲ 13.3%€1.6mabove the sector's middle half▲ 47.7%€1.7mabove the sector's middle half▲ 2.8%€1.7mabove the sector's middle half▲ 3.3%€1.7mabove the sector's middle half▼ 2.2%
Total assets€1.5mwithin the sector's middle half▼ 14.7%€2.7mabove the sector's middle half▲ 83.4%€2.0mabove the sector's middle half▼ 27.0%€2.0mabove the sector's middle half▲ 1.4%€2.6mabove the sector's middle half▲ 31.5%
Debt€362,913▼ 51.5%€1.1m▲ 193%€285,944▼ 73.1%€258,385▼ 9.6%€928,378▲ 259%
Working capital€723,577above the sector's middle half▲ 4.7%€790,351above the sector's middle half▲ 9.2%€890,868above the sector's middle half▲ 12.7%€943,830above the sector's middle half▲ 5.9%€838,707above the sector's middle half▼ 11.1%
Solvency75.4%above the sector's middle half▲ 18.6pp60.7%above the sector's middle half▼ 14.7pp85.5%above the sector's middle half▲ 24.8pp87.1%above the sector's middle half▲ 1.6pp64.8%above the sector's middle half▼ 22.3pp
Current ratio2.99above the sector's middle half▲ 0.882.87above the sector's middle half▼ 0.125.06above the sector's middle half▲ 2.195.07above the sector's middle half▲ 0.013.24above the sector's middle half▼ 1.83
Return on assets (ROA)8.9%within the sector's middle half▲ 0.9pp3.1%within the sector's middle half▼ 5.8pp2.3%within the sector's middle half▼ 0.8pp2.8%within the sector's middle half▲ 0.4pp-1.5%below the sector's middle half▼ 4.2pp
Staff (FTE)8.5above the sector's middle half=8.1above the sector's middle half▼ 4.7%7.7above the sector's middle half▼ 4.9%7.3within the sector's middle half▼ 5.2%7.1within the sector's middle half▼ 2.7%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €36,764 after €63,127 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€1.4m ▲ 71.8%
Current assets
€1.2m ▲ 3.2%
Equity and liabilities €2.6m
Equity
€1.7m ▼ 2.2%
Debt
€928,378 ▲ 259%
Debt's share of the balance-sheet total rises from 12.9% to 35.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€135,141▲
2024 · €132,683
Cash flow
€133,345▲
2024 · €124,707
Quick ratio
2.53▼
2024 · 3.99
Debt to equity
0.54▲
2024 · 0.15
ROE
-2.3%▼
2024 · 3.2%
Interest coverage
5.97▼
2024 · 25.25
Debt ≤ 1 year
€374,193▲
2024 · €231,982
Debt > 1 year
€554,185▲
2024 · €26,403
Income taxes
€154▼
2024 · €24,452
Staff costs
€514,604▲
2024 · €503,732
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 12,321 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €30,268 | - | €10,182 | - | - |
| Remuneration, social security and pensions62 | - | €491,060 | €528,579 | €503,732 | €514,604 | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,752 | €44,980 | €70,152 | €69,556 | €171,905 | ▲ 147% |
| Other operating charges640/8 | - | €7,924 | €7,445 | €7,016 | €8,137 | ▲ 16.0% |
| Non-recurring operating charges66A | - | - | - | €1,207 | - | - |
| Gross operating margin9900 | €763,160 | €679,696 | €611,776 | €644,637 | €657,882 | ▲ 2.1% |
| Operating profit (loss)9901 | €196,167 | €135,733 | €5,601 | €63,127 | -€36,764 | ▼ 158% |
| Financial income75/76B | - | €2,536 | €53,819 | €21,732 | €20,984 | ▼ 3.4% |
| Recurring financial income75 | €2,519 | €2,536 | €53,819 | €7,141 | €7,646 | ▲ 7.1% |
| Non-recurring financial income76B | - | - | - | €14,591 | €13,339 | ▼ 8.6% |
| Financial charges65/66B | - | €12,295 | €6,512 | €5,256 | €22,626 | ▲ 331% |
| Recurring financial charges65 | €13,338 | €12,295 | €6,512 | €5,256 | €22,626 | ▲ 331% |
| Profit (loss) for the period before taxes9903 | €185,349 | €125,974 | €52,908 | €79,603 | -€38,406 | ▼ 148% |
| Income taxes67/77 | €54,371 | €41,485 | €6,651 | €24,452 | €154 | ▼ 99.4% |
| Profit (loss) for the period9904 | €130,977 | €84,489 | €46,257 | €55,151 | -€38,560 | ▼ 170% |
| Profit (loss) for the period to be appropriated9905 | €130,977 | €84,489 | €46,257 | €55,151 | -€38,560 | ▼ 170% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €2.7m | €2.0m | €2.0m | €2.6m | ▲ 31.5% |
| Fixed assets21/28 | €389,489 | €1.5m | €865,533 | €827,722 | €1.4m | ▲ 71.8% |
| Tangible fixed assets22/27 | €389,489 | €853,390 | €865,533 | €827,722 | €1.4m | ▲ 71.8% |
| Land and buildings22 | - | €673,400 | €652,574 | €631,748 | €1.3m | ▲ 103% |
| Plant, machinery and equipment23 | - | €105,779 | €114,740 | €116,135 | €77,642 | ▼ 33.1% |
| Furniture and vehicles24 | - | €74,211 | €98,219 | €79,838 | €63,505 | ▼ 20.5% |
| Financial fixed assets28 | - | €641,059 | - | - | - | - |
| Current assets29/58 | €1.1m | €1.2m | €1.1m | €1.2m | €1.2m | ▲ 3.2% |
| Stocks and contracts in progress3 | €239,475 | €243,876 | €249,031 | €251,010 | €264,635 | ▲ 5.4% |
| Stocks30/36 | - | €243,876 | €249,031 | €251,010 | €264,635 | ▲ 5.4% |
| Amounts receivable within one year40/41 | €177,801 | €177,110 | €260,239 | €405,445 | €290,681 | ▼ 28.3% |
| Trade receivables40 | - | €134,809 | €190,470 | €383,052 | €227,866 | ▼ 40.5% |
| Other amounts receivable41 | - | €42,301 | €69,768 | €22,393 | €62,815 | ▲ 181% |
| Current investments50/53 | €334,160 | €384,008 | €280,844 | €335,845 | €398,930 | ▲ 18.8% |
| Cash at bank and in hand54/58 | €326,255 | €398,304 | €312,618 | €173,737 | €247,993 | ▲ 42.7% |
| Deferred charges and accrued income490/1 | - | €9,151 | €7,676 | €9,775 | €10,661 | ▲ 9.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €2.7m | €2.0m | €2.0m | €2.6m | ▲ 31.5% |
| Equity10/15 | €1.1m | €1.6m | €1.7m | €1.7m | €1.7m | ▼ 2.2% |
| Contributions10/11 | €315,000 | €761,187 | €761,187 | €761,187 | €761,187 | = |
| Capital10 | - | €761,187 | €761,187 | €761,187 | €761,187 | = |
| Issued capital100 | - | €761,187 | €761,187 | €761,187 | €761,187 | = |
| Reserves13 | €798,066 | €882,555 | €928,812 | €983,962 | €983,962 | = |
| Non-distributable reserves130/1 | - | €36,500 | €39,100 | €42,200 | €42,200 | = |
| Legal reserve130 | - | €36,500 | €39,100 | €42,200 | €42,200 | = |
| Distributable reserves133 | - | €846,055 | €889,712 | €941,762 | €941,762 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€38,559 | - |
| Amounts payable17/49 | €362,913 | €1.1m | €285,944 | €258,385 | €928,378 | ▲ 259% |
| Amounts payable after more than one year17 | - | €641,059 | €66,403 | €26,403 | €554,185 | ▲ 1,999% |
| Financial debts170/4 | - | €641,059 | €66,403 | €26,403 | €554,185 | ▲ 1,999% |
| Amounts payable within one year42/48 | €362,913 | €422,097 | €219,541 | €231,982 | €374,193 | ▲ 61.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €92,340 | - |
| Trade debts44 | €120,962 | €173,037 | €188,542 | €198,753 | €250,188 | ▲ 25.9% |
| Suppliers440/4 | - | €173,037 | €188,542 | €198,753 | €250,188 | ▲ 25.9% |
| Taxes, remuneration and social security45 | - | €34,205 | €30,998 | €32,655 | €31,666 | ▼ 3.0% |
| Taxes450/3 | - | €2,631 | €337 | €1,764 | €1,823 | ▲ 3.3% |
| Remuneration and social security454/9 | - | €31,574 | €30,662 | €30,891 | €29,843 | ▼ 3.4% |
| Other amounts payable47/48 | - | €214,856 | - | €574 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €130,977 | €84,489 | €46,257 | €55,151 | -€38,560 | ▼ 170% |
| + Depreciation and write-downs630 | €68,752 | €44,980 | €70,152 | €69,556 | €171,905 | ▲ 147% |
| Operating cash flow (approximation) | €199,729 | €129,469 | €116,408 | €124,707 | €133,345 | ▲ 6.9% |
| Investment in fixed assets (approximation) | - | -€1.1m | €558,765 | -€31,744 | -€766,250 | ▼ 2,314% |
| Change in cash | - | €72,049 | -€85,686 | -€138,881 | €74,256 | ▲ 153% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet -€38,560
Net result drops to -€38,560, the lowest in the series.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Equity above €1mEq €1.1m ▲13.3%
3 profitable years in a row build equity to €1.1m.
30-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Glabbeek · 2 establishment units since 2006
Ground area
3,571 m²
Building footprint
604 m²
Volume, LiDAR
3,525 m³
2 parcels, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
ELBEFAR
since 20062.151.707.151
ELBEFAR
since 20062.157.507.256
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24115B0399/00H000 | Flanders | 2,177 m² | 1 · 304 m² | 8.6 m · 2 fl. |
| 24030B0033/00G000 | Flanders | 1,394 m² | 1 · 301 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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 5,220 companies in sector 47730 we hold annual accounts for 3,862. 2,546 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-12-2005
Fiscal year end30-06
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0877887315
Also
9925:BE0877887315
Registered
21-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.