ELBORECO
ActiveSummary
ELBORECO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.15M and a net result of €280k. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 88% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability93▲+12
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 3.89 against 5.31 in 2024; short-term debt: 11% and cash: 12.4% of total assets), and 19.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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
Sector 43
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
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
80.4%
Return on assets
19.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
16 d early
2023
27 d early
2022
47 d early
2021
40 d early
2020
40 d early
2019
46 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.15M▲ 32.3%
2024 · €865k
2018: €390k
2019: €364k
2020: €574k
2021: €639k
2022: €572k
2023: €764k
2024: €865k
2018 → 2025
Total assets
€1.42M▲ 33.0%
2024 · €1.07M
2018: €982k
2019: €615k
2020: €1.13M
2021: €1.25M
2022: €762k
2023: €875k
2024: €1.07M
2018 → 2025
Net result
€280k▲ 176%
2024 · €101k
2018: €312k
2019: €-26k
2020: €209k
2021: €66k
2022: €-68k
2023: €192k
2024: €101k
2018 → 2025
Working capital
€453k▲ 25.3%
2024 · €362k
2018: €297k
2019: €216k
2020: €358k
2021: €379k
2022: €185k
2023: €341k
2024: €362k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€639k-€572k▼ 10.6%€764k▲ 33.6%€865k▲ 13.3%€1.15M▲ 32.3%
Operating result€77k-€-67k€223k€185k▼ 16.8%€396k▲ 114%
Net result€66k-€-68k€192k€101k▼ 47.3%€280k▲ 176%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 114% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.42M
Fixed assets
€815k ▲ 30.2%
Current assets
€610k ▲ 36.8%
Equity and liabilities €1.42M
Equity
€1.15M ▲ 32.3%
Debt
€279k ▲ 35.6%
Debt's share of the balance-sheet total rises from 19.2% to 19.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€599k▲
2024 · €319k
Cash flow
€483k▲
2024 · €235k
Current ratio
3.89▼
2024 · 5.31
Quick ratio
3.87▼
2024 · 5.31
Debt to equity
0.24▲
2024 · 0.24
ROE
24.4%▲
2024 · 11.7%
ROA
19.7%▲
2024 · 9.5%
Interest coverage
142.00▼
2024 · 169.95
Debt ≤ 1 year
€157k▲
2024 · €84k
Debt > 1 year
€121k▲
2024 · €89k
Income taxes
€116k▲
2024 · €83k
Staff costs
€38k▲
2024 · €32k
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.07M€1.42M▲
Fixed assets21/28€626k€815k▲
Tangible fixed assets22/27€625k€814k▲
Plant, machinery and equipment23€445k€450k▲
Furniture and vehicles24€86k€272k▲
Other tangible fixed assets26€95k€92k▼
Financial fixed assets28€310€310=
Current assets29/58€446k€610k▲
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€0€3k▲
Contracts in progress37€0€3k▲
Amounts receivable within one year40/41€366k€414k▲
Trade receivables40€235k€279k▲
Other amounts receivable41€131k€135k▲
Cash at bank and in hand54/58€67k€176k▲
Deferred charges and accrued income490/1€13k€16k▲
Equity and liabilities
Total equity and liabilities10/49€1.07M€1.42M▲
Equity10/15€865k€1.15M▲
Contributions10/11€19k€19k=
Reserves13€846k€1.13M▲
Distributable reserves133€846k€1.13M▲
Amounts payable17/49€206k€279k▲
Amounts payable after more than one year17€89k€121k▲
Financial debts170/4€89k€121k▲
Amounts payable within one year42/48€84k€157k▲
Current portion of amounts payable after more than one year42€32k€56k▲
Trade debts44€26k€51k▲
Suppliers440/4€26k€51k▲
Taxes, remuneration and social security45€11k€41k▲
Taxes450/3€1k€32k▲
Remuneration and social security454/9€10k€10k▼
Other amounts payable47/48€15k€8k▼
Accrued charges and deferred income492/3€33k€1k▼
Income statement
Code20242025
Non-recurring operating income76A€30k€83k▲
Remuneration, social security and pensions62€32k€38k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€133k€203k▲
Other operating charges640/8€47k€6k▼
Non-recurring operating charges66A-€986
Gross operating margin9900€398k€644k▲
Operating profit (loss)9901€185k€396k▲
Financial income75/76B€1k€3k▲
Recurring financial income75€1k€3k▲
Financial charges65/66B€2k€4k▲
Recurring financial charges65€2k€4k▲
Profit (loss) for the period before taxes9903€185k€395k▲
Income taxes67/77€83k€116k▲
Profit (loss) for the period9904€101k€280k▲
Profit (loss) for the period to be appropriated9905€101k€280k▲
Appropriation of the result
Profit (loss) to be appropriated9906€101k€280k▲
Transfer to equity691/2€101k€280k▲
To other reserves6921€101k€280k▲
Social balance
Average headcount (FTE)90870.60.6=
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
State Gazette act
Capital & shares · RestructuringMerger proposal preparation · Merger · Accounting effect4 facts ▸
State Gazette act
Capital & shares · Restructuring
Merger proposal preparation · Merger · Accounting effect4 facts ▸
- Merger proposal preparation, 08-06-2026
- Merger, absorption, 31-12-2025
- Accounting effect, 01-01-2026
- Power of attorney, Acs Accountants
19-06
State Gazette act
RestructuringMerger proposal · Merger · Accounting effect18 facts ▸
State Gazette act
Restructuring
Merger proposal · Merger · Accounting effect18 facts ▸
- Merger proposal, 08-06-2026
- Merger, fusie door overneming
- Accounting effect, 01-01-2026
- Capital, €62.000
- Capital, €19.000
- Board composition, Dierckx Hans (director)
- Board composition, Van Doninck Nele (director)
- Board composition, Dierckx Hans (director)
- Real estate, Een hoeve met aanhorigheden op en met grond bezwaard met een recht van opstal, staande en gelegen aan de Kleine Reesdijk 61, ten kadaster bekend sectie K, numme…
- Real estate, Een perceel landbouwgrond bezwaard met een recht van opstal, ter plaatse "Aanleggen", ten kadaster bekend sectie K, nummer 0804DP0000, groot 41 are en 96 centia…
- Real estate, Een perceel landbouwgrond bezwaard met een recht van opstal, ter plaatse "Aanleggen", en kadaster bekend sectie K, nummer 0804EP0000, groot 37 are en 97 centiar…
- Real estate, Een perceel bouwland, gelegen Bemde over de Calie, sectie H, nummer 1076AP0000, groot 50 are en 88 centiare
- +6 further facts in this act
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1MEq €1.15M ▲32.3%
3 profitable years in a row build equity to €1.15M.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €192k
Net result €192k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 5.86
Current ratio from 2.38 to 5.86; short-term debt falls from €134k to €70k.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-68k ▼202%
Net result drops to €-68k, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-12
Financial
Back to profitnet €209k
Net result €209k after one loss-making year.
31-12
Financial
Equity above €500kEq €574k ▲57.4%
Equity rises from €364k to €574k.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneState Gazette actNBB 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 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Turnhout · 1 establishment unit since 2000
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.
Kleine Reesdijk 612300 TurnhoutGround area
2,919 m²
Building footprint
343 m²
Volume, LiDAR
2,073 m³
Parcel 13452K0803/00F000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ELBORECO
since 20002.097.438.423
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13452K0803/00F000 | Flanders | 2,919 m² | 1 · 343 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Purpose
Onderneming voor de grote werken van droogleggen en pompen; Onderneming voor boringen, peilingen en uitdiepingen; Onderneming voor drainagewerken; ... Algemene bouwwerkzaamheden…
Full purpose
Onderneming voor de grote werken van droogleggen en pompen; Onderneming voor boringen, peilingen en uitdiepingen; Onderneming voor drainagewerken; ... Algemene bouwwerkzaamheden beperkt tot de coördinatie van werken uitgevoerd door onderaannemers.
Structure & network
Acquisitions and mergers
1 transactionTook over:ANIMO
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 19-06-2026 ↗
- Dierckx Hans
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 19-06-2026 Capital stated in the act · 19,000 EUR · 190 shares
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 183 EUR awarded · 183 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 183 EUR | 183 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 2,995 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-02-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43990Other specialised construction activities
43211General electrical installation work
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.