Equity
€120,566 ▲ 32.5%
ELC has made a profit without a break since 2023.
ELC
Lifetime
10 annual accounts with figures on one time axisGross marginpeak €186,468 (2017)
€50,726▲ 116%
Resultlowest -€20,831 (2022)
€29,604▲ 13×
Equitypeak €120,566 (2025)
€120,566▲ 32.5%
Debts
€72,677▲ 14.1%
Staffpeak 1.1 FTE (2017)
-not published
Board1 name since 2015
1 directorCIFTCI Erdogan
Documentsfilings and deeds
03-03-202631 days late
2025micro format
Gross margin from €23,465 to €50,726Result from €2,350 to €29,604Equity from €90,962 to €120,566Cash from €6,683 to €36,009
Key points
from the 2025 annual accountsChecked score
72
Healthy
Financially stronger than 67% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,685 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%lowest value
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.8%▲ +0.3 percentage points vs 01-2025
03-2025: 1.0%▲ +0.2 percentage points vs 02-2025
04-2025: 1.6%▲ +0.6 percentage points vs 03-2025
05-2025: 1.7%▲ +0.1 percentage points vs 04-2025
06-2025: 2.4%▲ +0.7 percentage points vs 05-2025
07-2025: 2.4%● unchanged vs 06-2025
08-2025: 2.4%● unchanged vs 07-2025
09-2025: 2.3%▼ -0.1 percentage points vs 08-2025
10-2025: 2.4%▲ +0.1 percentage points vs 09-2025
11-2025: 1.9%▼ -0.5 percentage points vs 10-2025
12-2025: 1.9%● unchanged vs 11-2025
01-2026: 1.9%● unchanged vs 12-2025
02-2026: 2.4%▲ +0.5 percentage points vs 01-2026
03-2026: 2.7%▲ +0.3 percentage points vs 02-2026highest value
04-2026: 0.6%▼ -2.1 percentage points vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 32 days late; 3 of the last 3 accounts late
Size: total assets €193,243
lowers risk
Liquidity: current ratio 2.63, cash €36,009
Equity €120,566 (62.4% of total assets)
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 (NACE 43, micro). It does better than 68% of them on solvency, 52% on liquidity, 73% on profitability and 76% 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 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as ELC has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of ELC itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for ELC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €8,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.63 (2.38 in 2024), above the usual 1.5. Short-term debt is 37.6% and cash 18.6% of total assets. 37.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-03-2026, 31 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 filingsDeviation from the deadline
2025
31 days late
2024
104 days late
2023
36 days late
2022
286 days late
2021
6 days early
2020
166 days late
2019
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 92 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 8 March (4 of the last 5 accounts filed within 68 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end05-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0630901460
Change of role: CIFTCI Erdogan, from manager to director
General meeting of 29-03-2024 · Gazette deed
Incorporation
published on 01-06-2015 · Gazette deed
First establishment
Rode Kruisstraat 18, Heusden-Zolder
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| ELC Heusden-Zolder | €193,243 | €50,726 | 62.4% | - |
| T.E.B.A Antwerp | €171,665 | €56,077 | 30.6% | - |
| ALATAW La Louvière | €222,419 | €49,002 | 24.6% | - |
| AP2 Leuven | €157,161 | €50,300 | 37.3% | - |
| FB ReNieProjects Erpe-Mere | €209,792 | €64,643 | 47.8% | - |
| FLEXIWORKS Heusden-Zolder | €125,041 | €48,444 | 51.1% | - |
| MvanM Bilzen-Hoeselt | €138,547 | €47,111 | 90.8% | - |
These companies have the same main activity as ELC: other construction installation (NACE 43240). They are comparable in size and age: total assets between €125,000 and €222,000, founded between 2014 and 2017.
Official details
Source: KBO- Status
- Active since 28-05-2015Normal situation
- Activity
- Other construction installationNACE 43240and 6 others
- Establishment unit
- 2.242.947.7273550 Heusden-Zolder, since 28-05-2015
- Financial year end
- 30 June
- Peppol
- Reachable since 12-02-2025
Insights on ELC
ELC files the micro format. That format states no turnover. The gross margin fell from €88,882 in 2016 to €50,726 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ELC
- What is the company number of ELC?
- The company number of ELC is 0630.901.460. The VAT number is the same number with BE in front: BE 0630.901.460.
- Where is ELC based?
- The registered office is at Rode Kruisstraat 18, 3550 Heusden-Zolder.Company details
- What does ELC do?
- According to the KBO register, the main activity is other construction installation (NACE 43240).
- What is the legal form of ELC?
- ELC is a private limited company (BV).
- When was ELC founded?
- ELC was founded on 28-05-2015.
- Is ELC still active?
- Yes, ELC is an active enterprise in the KBO register.
- How many employees does ELC have?
- ELC had an average of 0.3 full-time equivalents in financial year 2020, according to the filed annual accounts.Financials
- What is the turnover of ELC?
- The turnover in financial year 2025 is ≈ €200,000. This figure is estimated from the gross margin of €50,726 and 106 comparable companies (NACE 432). It probably lies between €140,000 and €290,000.
- Is ELC profitable?
- In financial year 2025, ELC made a profit of €29,604.
- Where can I find the annual accounts of ELC?
- ELC filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ELC due?
- ELC must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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