ElCo Solar
ActiveSummary
ElCo Solar has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €94k and a net result of €42k. Equity is growing by ~32.7% per year across the filed fiscal years. Its solvency ranks better than 55% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability95▲+61
Solvency76▲+19
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.58 in 2024; short-term debt: 36.7% and cash: 0.3% of total assets), and 48.6% of the assets are financed with debt.
Credit check 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
51.4%
Return on assets
23.1%
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 04-05-2026, 88 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
88 d early
2024
29 d late
2023
23 d late
2022
46 d late
2021
16 d late
2020
3 d early
2019
24 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, micro schema
Equity
€94k▲ 81.5%
2024 · €52k
2018: €10k
2019: €23k
2020: €21k
2021: €21k
2022: €30k
2023: €52k
2024: €52k
2018 → 2025
Total assets
€182k▲ 12.9%
2024 · €161k
2018: €287k
2019: €284k
2020: €300k
2021: €154k
2022: €206k
2023: €232k
2024: €161k
2018 → 2025
Net result
€42k
2024 · €-619
2018: €9k
2019: €13k
2020: €-2k
2021: €620
2022: €9k
2023: €23k
2024: €-619
2018 → 2025
Working capital
€43k▼ 0.5%
2024 · €43k
2018: €-17k
2019: €-12k
2020: €3k
2021: €34k
2022: €67k
2023: €34k
2024: €43k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€21k-€30k▲ 40.8%€52k▲ 74.9%€52k▼ 1.2%€94k▲ 81.5%
Operating result€36k-€20k▼ 43.5%€42k▲ 105%€14k▼ 67.8%€66k▲ 390%
Net result€620-€9k▲ 1,292%€23k▲ 163%€-619€42k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 390% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €182k
Fixed assets
€72k ▲ 63.2%
Current assets
€110k ▼ 6.2%
Equity and liabilities €182k
Equity
€94k ▲ 81.5%
Debt
€89k ▼ 19.3%
Debt's share of the balance-sheet total falls from 68.1% to 48.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€80k▲
2024 · €32k
Cash flow
€56k▲
2024 · €18k
Current ratio
1.64▲
2024 · 1.58
Debt to equity
0.95▼
2024 · 2.13
ROE
44.9%▲
2024 · -1.2%
ROA
23.1%▲
2024 · -0.4%
Interest coverage
5.67▲
2024 · 1.91
Debt ≤ 1 year
€67k▼
2024 · €74k
Debt > 1 year
€22k▼
2024 · €36k
Income taxes
€14k▲
2024 · €777
Staff costs
€56k▼
2024 · €58k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€161k€182k▲
Fixed assets21/28€44k€72k▲
Tangible fixed assets22/27€44k€35k▼
Plant, machinery and equipment23€11k€8k▼
Furniture and vehicles24€33k€27k▼
Financial fixed assets28-€38k
Current assets29/58€117k€110k▼
Stocks and contracts in progress3€9k-
Stocks30/36€9k-
Amounts receivable within one year40/41€94k€108k▲
Trade receivables40€39k€34k▼
Other amounts receivable41€55k€75k▲
Cash at bank and in hand54/58€14k€546▼
Deferred charges and accrued income490/1€948€999▲
Equity and liabilities
Total equity and liabilities10/49€161k€182k▲
Equity10/15€52k€94k▲
Contributions10/11€19k€19k=
Reserves13€33k€75k▲
Distributable reserves133€33k€75k▲
Profit (loss) carried forward14€96-
Amounts payable17/49€110k€89k▼
Amounts payable after more than one year17€36k€22k▼
Financial debts170/4€36k€22k▼
Amounts payable within one year42/48€74k€67k▼
Current portion of amounts payable after more than one year42€38k€14k▼
Financial debts43-€22k
Credit institutions430/8-€22k
Trade debts44€21k€12k▼
Suppliers440/4€21k€12k▼
Taxes, remuneration and social security45€15k€19k▲
Taxes450/3€11k€15k▲
Remuneration and social security454/9€4k€4k▼
Income statement
Code20242025
Remuneration, social security and pensions62€58k€56k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€14k▼
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A€11k-
Gross operating margin9900€103k€138k▲
Operating profit (loss)9901€14k€66k▲
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Financial charges65/66B€17k€14k▼
Recurring financial charges65€17k€14k▼
Profit (loss) for the period before taxes9903€158€56k▲
Income taxes67/77€777€14k▲
Profit (loss) for the period9904€-619€42k▲
Profit (loss) for the period to be appropriated9905€-619€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€96€42k▲
Profit (loss) brought forward from the previous period14P€714€96▼
Transfer to equity691/2-€42k
To other reserves6921-€42k
The notes to these accounts (12 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
04-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €42k
Net result €42k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 46 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
31-12
Financial
Back to profitnet €620
Net result €620 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-2k ▼118%
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Waasmunster · 1 establishment unit since 2010
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.
Neerstraat 2519250 WaasmunsterGround area
854 m²
Building footprint
106 m²
Parcel 42342C0315/00X000, Flanders. Linked by address, not a title deed.
1 establishment unit
Alg. Bouwwerken Cop Ronny
since 20102.190.364.423
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42342C0315/00X000 | Flanders | 854 m² | 1 · 106 m² | - |
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.
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Of 22,821 companies in sector 43211 we hold annual accounts for 10,326. 8,825 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
Founded12-07-2010
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43211General electrical installation work
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.