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ELBITRUST

Active
Public limited companyfounded 2002active for 24 yearsJagersdreef 14, 3210 Lubbeek, BelgiumKBO/BCE: BE 0478.443.590
Summary

ELBITRUST has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.0m and a net result of -€1,110. Equity has been stable since 2018 (±0% per year). The computed 12-month bankruptcy probability is 0.4% (very low).

Overview

Overview

Official details

Source: KBO
Status
Active since 30-09-2002 Normal situation
Activity
“Het verwerven,door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van…” (deed in French)From the articles, 7 activitiesNo NACE code in the KBO yet
Establishment unit
2.115.588.212 3200 Aarschot, since 31-10-2002
Financial year end
31 December
Peppol
Reachable since 15-12-2025

Board and ownership

Board
and 1 other

Financial position

85 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.4%
Annual accounts 2025
Gross margin
-€88
▲ 57.2%
Loss
€1,110
▼ 7.2%
Equity
€8.0m
=
Total assets
€8.0m
=
  • 2025 accounts filed 29 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.32, cash €4,236Last filed accounts filed 29 days late; 1 of the last 3 accounts latelowers riskSize: total assets €8.0mEquity €8.0m (99.8% of total assets)Show the evidence

Checked score

Score 2025
85 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 52% of small companies without a NACE code
Financial strength · tick: 2024
Strong
Solvency 100=
equity 99.8% of total assets
Liquidity 50=
short-term debt 0.2% · cash 0.1%
Profitability 37=
return on assets 0.0%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.5% 01-2025: 0.6%▲ +0.1 percentage points vs 12-2024 02-2025: 0.6%● unchanged vs 01-2025 03-2025: 0.6%● unchanged vs 02-2025 04-2025: 0.5%▼ -0.1 percentage points vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.5%● unchanged vs 06-2025 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.6%▲ +0.1 percentage points vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.5%▼ -0.1 percentage points vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 0.9%▲ +0.4 percentage points vs 07-2026highest value 09-2026: 0.4%▼ -0.5 percentage points vs 08-2026lowest value 10-2026: 0.4%● unchanged vs 09-2026lowest value 11-2026: 0.4%● unchanged vs 10-2026lowest value
Credit of up to €650,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.32 (0.36 in 2024), below 1. Short-term debt is 0.2% and cash 0.1% of total assets. 0.2% of the assets are financed with debt and provisions.
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, small). It does better than 82% of them on solvency, 46% on liquidity, 37% on profitability and 44% on growth.

The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
raises risk · Liquidity: current ratio 0.32, cash €4,236
NBB · annual accounts
lowers risk · Size: total assets €8.0m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Last filed accounts filed 29 days late; 1 of the last 3 accounts late
NBB · filings
lowers risk · Equity €8.0m (99.8% of total assets)
NBB · annual accounts
raises risk · 2025 accounts filed 29 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
29 days late
2024
32 days early
2023
38 days late
2022
55 days late
2021
13 days early
2020
31 days early
2019
62 days early
← before the deadline after the deadline →
tick = median of all Belgian filings

The company filed its last 7 accounts on average 2 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 42 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, full format

2025 annual accounts filed 29 days after the deadline Filed on 29 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00451377.

Annual accounts 2025 filed on 29-08-2026 at the NBB all 23 filings

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1,110▲ 7.2%
2024 · -€1,197
Working capital
-€8,819▼ 14.4%
2024 · -€7,709
Multi-year overview
2018 to 2025, 8 financial years
Operating result
-€1,086
▲ 7.4% 2025
20182025
Net result
-€1,110
▲ 7.2% 2025
20182025
Equity
€8.0m
= 2025
20182025
Total assets
€8.0m
= 2025
20182025
Debt
€13,112
▲ 9.0% 2025
20182025
Working capital
-€8,819
▼ 14.4% 2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result-€0.001m--€0.001m▲ 3.4%-€0.001m▼ 1.8%-€0.001m▼ 0.2%-€0.001m=-€0.003m▼ 205%-€0.001m▲ 58.4%-€0.001m▲ 7.4%
Net result-€0.001m--€0.001m▲ 2.4%-€0.001m▼ 3.5%-€0.001m▼ 0.2%-€0.001m▼ 0.1%-€0.003m▼ 194%-€0.001m▲ 58.3%-€0.001m▲ 7.2%
Equity€8.0m-€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=
Total assets€8.0m-€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=€8.0m=
Debt€0.004m-€0.005m▲ 20.8%€0.006m▲ 17.5%€0.007m▲ 15.0%€0.008m▲ 13.0%€0.01m▲ 35.1%€0.01m▲ 10.8%€0.01m▲ 9.0%
Working capital€235--€0.001m-€0.002m▼ 135%-€0.003m▼ 57.5%-€0.004m▼ 36.6%-€0.007m▼ 78.9%-€0.008m▼ 18.4%-€0.009m▼ 14.4%

The operating result for 2025 is a loss of €1,086, smaller than the loss of €1,173 in 2024.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.0m
Fixed assets €8.0m =
Current assets €4,236 ▼ 0.6%
Equity and liabilities €8.0m
Equity €8.0m =
Debt €13,112 ▲ 9.0%
Debt's share of the balance-sheet total stays at 0.2%.
Key figures and ratios
2025 value · change against 2024
Current ratio
0.32▼
2024 · 0.36
Debt to equity
0.00▲
2024 · 0.00
ROE
0.0%▲
2024 · 0.0%
ROA
0.0%▲
2024 · 0.0%
Debt ≤ 1 year
€13,055▲
2024 · €11,969
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 29 lines
Balance sheet Code20242025
Assets
Total assets20/58€8.0m€8.0m=
Formation expenses20€0€0=
Fixed assets21/28€8.0m€8.0m=
Financial fixed assets28€8.0m€8.0m=
Current assets29/58€0.004m€0.004m▼
Cash at bank and in hand54/58€0.004m€0.004m▼
Equity and liabilities
Total equity and liabilities10/49€8.0m€8.0m=
Equity10/15€8.0m€8.0m=
Contributions10/11€7.8m€7.8m=
Capital10€7.8m€7.8m=
Issued capital100€7.8m€7.8m=
Reserves13€0.2m€0.2m▼
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Distributable reserves133€0.2m€0.2m▼
Amounts payable17/49€0.01m€0.01m▲
Amounts payable within one year42/48€0.01m€0.01m▲
Other amounts payable47/48€0.01m€0.01m▲
Accrued charges and deferred income492/3€57€57=
Income statement Code20242025
Other operating charges640/8€0.001m€0.001m▲
Gross operating margin9900-€205-€88▲
Operating profit (loss)9901-€0.001m-€0.001m▲
Financial charges65/66B€24€24=
Recurring financial charges65€24€24=
Profit (loss) for the period before taxes9903-€0.001m-€0.001m▲
Profit (loss) for the period9904-€0.001m-€0.001m▲
Profit (loss) for the period to be appropriated9905-€0.001m-€0.001m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.001m-€0.001m▲
Transfer from equity791/2€0.001m€0.001m▼

The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 29-08-2026.

Line20182019202020212022202320242025Change
Other operating charges640/8---€868€868€960€968€998▲ 3.2%
Gross operating margin9900-€70-€39-€55-€57-€57-€1,861-€205-€88▲ 57.2%
Operating profit (loss)9901-€938-€907-€923-€925-€925-€2,822-€1,173-€1,086▲ 7.4%
Financial charges65/66B---€50€51€51€24€24=
Recurring financial charges65€24€33€50€50€51€51€24€24=
Profit (loss) for the period before taxes9903-€962-€939-€973-€975-€976-€2,872-€1,197-€1,110▲ 7.2%
Profit (loss) for the period9904-€962-€939-€973-€975-€976-€2,872-€1,197-€1,110▲ 7.2%
Profit (loss) for the period to be appropriated9905-€962-€939-€973-€975-€976-€2,872-€1,197-€1,110▲ 7.2%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m=
Formation expenses20-----€0€0€0-
Fixed assets21/28€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m=
Financial fixed assets28€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m=
Current assets29/58€0.005m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m▼ 0.6%
Cash at bank and in hand54/58€0.005m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m▼ 0.6%
Equity and liabilities
Total equity and liabilities10/49€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m=
Equity10/15€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m€8.0m=
Contributions10/11€7.8m€7.8m€7.8m€7.8m€7.8m€7.8m€7.8m€7.8m=
Capital10---€7.8m€7.8m€7.8m€7.8m€7.8m=
Issued capital100---€7.8m€7.8m€7.8m€7.8m€7.8m=
Reserves13€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m▼ 0.5%
Non-distributable reserves130/1---€0.01m€0.01m€0.01m€0.01m€0.01m=
Legal reserve130---€0.01m€0.01m€0.01m€0.01m€0.01m=
Distributable reserves133---€0.2m€0.2m€0.2m€0.2m€0.2m▼ 0.6%
Amounts payable17/49€0.004m€0.005m€0.006m€0.007m€0.008m€0.01m€0.01m€0.01m▲ 9.0%
Amounts payable within one year42/48€0.004m€0.005m€0.006m€0.007m€0.008m€0.01m€0.01m€0.01m▲ 9.1%
Other amounts payable47/48---€0.007m€0.008m€0.01m€0.01m€0.01m▲ 9.1%
Accrued charges and deferred income492/3---€57€57€57€57€57=
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€962-€939-€973-€975-€976-€2,872-€1,197-€1,110▲ 7.2%
Operating cash flow (approximation)-€962-€939-€973-€975-€976-€2,872-€1,197-€1,110▲ 7.2%
Investment in fixed assets (approximation)-€0€0€0€0€0€0€0-
Change in cash--€33-€50-€50-€51-€51-€24-€24=

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 23 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 29-08-2026 2026-00451377 PDF
31-12-2024 abbreviated format 29-06-2025 2025-00192865 PDF
31-12-2023 abbreviated format 07-09-2024 2024-00455310 PDF
31-12-2022 micro format 24-09-2023 2023-00452210 PDF
31-12-2021 micro format 18-07-2022 2022-20194532 PDF
31-12-2020 micro format 30-06-2021 2021-28600447 PDF
31-12-2019 micro format 30-05-2020 2020-15100402 PDF
31-12-2018 micro format 08-06-2019 2019-18000252 PDF
31-12-2017 abbreviated format 05-07-2018 2018-28900549 PDF
31-12-2016 abbreviated format 20-06-2017 2017-18900008 PDF

Show all 23 filings

Board & ownership

Directors

Directors
4 directors, last change in 2023
Heidi Billion
Director · since 20-12-2023 · listed in the 2025 annual accounts, filed on 29-08-2026
Current
Helga Billion
Director · since 20-12-2023 · listed in the 2025 annual accounts, filed on 29-08-2026
Current
Leo Billion
Director · since 20-12-2023 · earlier statutory manager, until 28-12-2023 · listed in the 2025 annual accounts, filed on 29-08-2026
Current
Rita Smedts
Director · since 20-12-2023 · earlier statutory manager, until 28-12-2023 · listed in the 2025 annual accounts, filed on 29-08-2026
Current

Owners and capital

Capital transactions

Capital over time
  1. 28-12-2023 Capital stated in the deed · €7,779,712.90 · 264,733 shares

Mandate history

4 people, 4 in office
Show
  • Board
  • mandate already running before its first mention
Mandates per person, with start and end dates
Name Functions and periods
Heidi Billion
  • Director, appointed by deed of 28-12-2023, still in office
Helga Billion
  • Director, appointed by deed of 28-12-2023, still in office
Leo Billion
  • Statutory manager, until 28-12-2023
  • Director, appointed by deed of 28-12-2023, still in office
Rita Smedts
  • Statutory manager, until 28-12-2023
  • Director, appointed by deed of 28-12-2023, still in office
See the board, name and registered office on a given date →

Articles of association

Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
“Op naam, iedere aandeelhouder kan kennis nemen”

Articles of association, deed of 28-12-2023 (in French)

Network & group

Holdings and subsidiaries

1 holding

Holdings 1

Holdings through the years 2006 to 2025
Holdings through the years
Name20062007200820092010201120122013201420152016201720182019202020212022202320242025
SOFTWARE HOLDING & FINANCE 99.99%

Source: list of holdings in its own accounts

Connections & network

4 current directors
Depth

The network starts from the directors of ELBITRUST. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Deeds, filings and financial milestones

Deadline for the 2026 accounts: 31-07-2027
2026
29-08
NBB filing Annual accounts 2025 filedNBB
full format · 29 days late
2025
29-06
NBB filing Annual accounts 2024 filedPDF
abbreviated format · 32 days before the deadline
2024
07-09
NBB filing Annual accounts 2023 filedPDF
abbreviated format · 38 days late
2023
31-12
Financial Weakest financial yearnet -€2,872
The net result drops to -€2,872, the lowest from 2018 to 2025. It recovers the following year.
28-12
Gazette deed 4 directors appointed, 2 managers resigning
Changes of role: Leo Billion (director) and Rita Smedts (director) · Appointments: Heidi Billion (director) and Helga Billion (director) · Legal-form conversion: from partnership limited by shares to public limited company10 points ▸
  • General meeting, 20-12-2023
  • Legal-form conversion, from partnership limited by shares to public limited company
  • Capital, €7,779,712.90, 264,733 shares
  • Director resignation, Leo Billion (statutory manager)
  • Director resignation, Rita Smedts (statutory manager)
  • Director appointment, Leo Billion
  • Director appointment, Rita Smedts
  • Director appointment, Heidi Billion
  • Director appointment, Helga Billion
  • Registered office clause, Jagersdreef 14, 3210 Linden
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

24-09
NBB filing Annual accounts 2022 filedPDF
micro format · 55 days late
2022
18-07
NBB filing Annual accounts 2021 filedPDF
micro format · 13 days before the deadline
2021
30-06
NBB filing Annual accounts 2020 filedPDF
micro format · 31 days before the deadline
2020
30-05
NBB filing Annual accounts 2019 filedPDF
micro format · 62 days before the deadline
2019
08-06
NBB filing Annual accounts 2018 filedPDF
micro format · 53 days before the deadline
2018
05-07
NBB filing Annual accounts 2017 filedPDF
abbreviated format · 26 days before the deadline
2017
20-06
NBB filing Annual accounts 2016 filedPDF
abbreviated format · 41 days before the deadline
2002
06-09
Gazette deed IncorporationPDF
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official GazetteFilings with the National Bank

History

On 30 September 2002, ELBITRUST was incorporated.1 Total assets went from €8.0m in 2018 to €8.0m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Register details

Identity

KBO record
Name ELBITRUST in Dutch
Enterprise number 0478.443.590
Legal form Public limited company
Status Active, normal situation
Founded 30-09-2002
Entity type Legal entity
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 28-12-2023 (in French)

Registered office and establishments

Registered office Jagersdreef 14, 3210 Lubbeek, Belgium
Establishment unit Nieuwlandlaan 9, 3200 Aarschot since 31-10-2002 · unit number 2.115.588.212 64210 Activities of holding companies
E-mail heidi@shf.be establishment in Aarschot

Activities

PurposeThe purpose describes the activities the company may carry out under its articles.
“Het verwerven,door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van…”
7 activities
  1. Het verwerven,door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten vennootschappen;
  2. Het bevorderen van de oprichting van vennootschappen door inbreng,participatie of investering;
  3. Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handels- of financiële operaties verrichten behalve die welke wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen,kapitalisatieondernemingen,ondernemingen voor vermogensbeheer en beleggingsadvies;
  4. Het optreden als tussenpersoon bij onderhandelingen door gehele of gedeeltelijke overname van aandelen,in de meest ruime betekenis,het deelnemen aan emissieverrichtingen van aandelen en vastrentende waarden door intekening,waarborgplaatsing,verhandeling of anderszins,alsmede het verwezenlijken van om het even welke verrichtingen inzake portefeuille- of kapitaalbestuur;
  5. Het waarnemen van alle bestuursopdrachten,het uitoefenen van mandaten en functies in andere vennootschappen of ondernemingen;
  6. Het verhuren of huren,aan- en verkoop van onroerende goederen voor eigen beheer;alsmede alle activiteiten die betrekking hebben op onroerende leasing;
  7. Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa;
deed of 28-12-2023 (in French)

Invoicing and payment

VAT number BE 0478.443.590
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0478443590
Registered 15-12-2025

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 5 November 2026 · Peppol Directory

Financial year and general meeting

Accounts at the NBB
Financial year end 31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of May at 18:00
deed of 28-12-2023 (in French)

Sites & property

Location
registered office establishment approximate The establishment unit on the map

Buildings and parcels at the address

Ground area
2,274 m²
Building footprint
244 m²
Building volume
1,427 m³
Cadastral parcel Region Area Buildings Height / floors
24063A0038/00T000 Flanders 2,274 m² 1 · 244 m² 21.0 m · 2