Elek Stroobant
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 25 filings
Turnover
≈ €57,000
Estimated: probably between €37,000 and €120,000
Total assets
€62,547▲ 21.9%
2024 · €51,327
Net result
€2,179
2024 · -€902
Working capital
€30,936▼ 2.4%
2024 · €31,698
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€3,889
2025
20182025
Net result
€2,179
2025
middle half of the sector
20182025
Equity
€5,411
▲ 67.4%
2025
lowest quarter of the sector
20182025
Total assets
€62,547
▲ 21.9%
2025
lowest quarter of the sector
20182025
Debt
€57,136
▲ 18.8%
2025
20182025
Working capital
€30,936
▼ 2.4%
2025
middle half of the sector
20182025
Solvency
8.7%
▲ 2.4pp
2025
lowest quarter of the sector
20182025
Current ratio
2.39
▼ 0.31
2025
middle half of the sector
20182025
Return on assets (ROA)
3.5%
▲ 5.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€4,949-€1,292▼ 73.9%-€13,196-€13,090▲ 0.8%€5,594€11,785▲ 111%-€19€3,889
Net result€4,127-€602▼ 85.4%-€13,645below the sector's middle half-€12,721below the sector's middle half▲ 6.8%€4,915within the sector's middle half€11,105within the sector's middle half▲ 126%-€902below the sector's middle half€2,179within the sector's middle half
Equity€13,878-€14,480▲ 4.3%€835below the sector's middle half▼ 94.2%-€11,886below the sector's middle half-€6,970below the sector's middle half▲ 41.4%€4,134below the sector's middle half€3,233below the sector's middle half▼ 21.8%€5,411below the sector's middle half▲ 67.4%
Total assets€82,270-€70,342▼ 14.5%€54,159below the sector's middle half▼ 23.0%€44,946below the sector's middle half▼ 17.0%€47,149below the sector's middle half▲ 4.9%€43,442below the sector's middle half▼ 7.9%€51,327below the sector's middle half▲ 18.1%€62,547below the sector's middle half▲ 21.9%
Debt€68,392-€55,862▼ 18.3%€53,324▼ 4.5%€56,832▲ 6.6%€54,119▼ 4.8%€39,308▼ 27.4%€48,094▲ 22.4%€57,136▲ 18.8%
Working capital€13,742-€14,597▲ 6.2%€40,616within the sector's middle half▲ 178%€27,612within the sector's middle half▼ 32.0%€27,127within the sector's middle half▼ 1.8%€32,906within the sector's middle half▲ 21.3%€31,698within the sector's middle half▼ 3.7%€30,936within the sector's middle half▼ 2.4%
Solvency16.9%-20.6%▲ 3.7pp1.5%below the sector's middle half▼ 19.0pp-26.4%below the sector's middle half▼ 28.0pp-14.8%below the sector's middle half▲ 11.7pp9.5%below the sector's middle half▲ 24.3pp6.3%below the sector's middle half▼ 3.2pp8.7%below the sector's middle half▲ 2.4pp
Current ratio1.21-1.27▲ 0.064.17above the sector's middle half▲ 2.902.69within the sector's middle half▼ 1.482.46within the sector's middle half▼ 0.234.36above the sector's middle half▲ 1.902.70within the sector's middle half▼ 1.652.39within the sector's middle half▼ 0.31
Return on assets (ROA)5.0%-0.9%▼ 4.2pp-25.2%below the sector's middle half▼ 26.1pp-28.3%below the sector's middle half▼ 3.1pp10.4%within the sector's middle half▲ 38.7pp25.6%above the sector's middle half▲ 15.1pp-1.8%below the sector's middle half▼ 27.3pp3.5%within the sector's middle half▲ 5.2pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €3,889, after a loss of €19 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62,547
Fixed assets
€9,409 ▲ 809%
Current assets
€53,137 ▲ 5.7%
Equity and liabilities €62,547
Equity
€5,411 ▲ 67.4%
Debt
€57,136 ▲ 18.8%
Debt's share of the balance-sheet total falls from 93.7% to 91.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€5,857▲
2024 · €512
Cash flow
€4,147▲
2024 · -€371
Quick ratio
1.16▲
2024 · 1.15
Debt to equity
10.56▼
2024 · 14.88
ROE
40.3%▲
2024 · -27.9%
Interest coverage
3.52▲
2024 · 0.58
Debt ≤ 1 year
€22,202▲
2024 · €18,594
Debt > 1 year
€33,434▲
2024 · €28,000
Income taxes
€46
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,142 | €893 | - | €838 | €10,343 |
| Depreciation and write-downs of the year | €859 | €492 | €674 | €531 | €1,968 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €12,069 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,366 | €2,101 | €665 | €859 | €492 | €674 | €531 | €1,968 | ▲ 271% |
| Other operating charges640/8 | - | - | - | €747 | €825 | €875 | €853 | €1,015 | ▲ 19.0% |
| Gross operating margin9900 | €14,045 | €4,237 | -€11,788 | -€11,484 | €6,911 | €13,334 | €1,364 | €6,872 | ▲ 404% |
| Operating profit (loss)9901 | €4,949 | €1,292 | -€13,196 | -€13,090 | €5,594 | €11,785 | -€19 | €3,889 | - |
| Financial income75/76B | - | - | - | €954 | €0 | €0 | - | - | - |
| Recurring financial income75 | - | €9 | €1 | €954 | €0 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €585 | €679 | €680 | €883 | €1,664 | ▲ 88.6% |
| Recurring financial charges65 | €822 | €699 | €450 | €585 | €679 | €680 | €883 | €1,664 | ▲ 88.6% |
| Profit (loss) for the period before taxes9903 | €4,127 | €602 | -€13,645 | -€12,721 | €4,915 | €11,105 | -€902 | €2,225 | - |
| Income taxes67/77 | - | - | - | - | - | - | - | €46 | - |
| Profit (loss) for the period9904 | €4,127 | €602 | -€13,645 | -€12,721 | €4,915 | €11,105 | -€902 | €2,179 | - |
| Profit (loss) for the period to be appropriated9905 | €4,127 | €602 | -€13,645 | -€12,721 | €4,915 | €11,105 | -€902 | €2,179 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €82,270 | €70,342 | €54,159 | €44,946 | €47,149 | €43,442 | €51,327 | €62,547 | ▲ 21.9% |
| Fixed assets21/28 | €1,636 | €1,383 | €719 | €1,002 | €1,402 | €728 | €1,035 | €9,409 | ▲ 809% |
| Tangible fixed assets22/27 | €1,586 | €1,333 | €669 | €952 | €1,353 | €679 | €985 | €9,360 | ▲ 850% |
| Furniture and vehicles24 | - | - | - | €952 | €1,353 | €679 | €985 | €9,360 | ▲ 850% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €80,634 | €68,959 | €53,440 | €43,944 | €45,746 | €42,714 | €50,292 | €53,137 | ▲ 5.7% |
| Stocks and contracts in progress3 | €15,568 | €10,124 | €7,850 | €22,230 | €13,500 | €30,654 | €28,875 | €27,415 | ▼ 5.1% |
| Stocks30/36 | - | - | - | €6,950 | €5,500 | €12,996 | €12,775 | €12,215 | ▼ 4.4% |
| Contracts in progress37 | - | - | - | €15,280 | €8,000 | €17,658 | €16,100 | €15,200 | ▼ 5.6% |
| Amounts receivable within one year40/41 | €20,471 | €31,214 | €12,437 | €9,149 | €25,762 | €11,836 | €19,177 | €15,845 | ▼ 17.4% |
| Trade receivables40 | - | - | - | €8,134 | €20,133 | €11,726 | €18,891 | €13,998 | ▼ 25.9% |
| Other amounts receivable41 | - | - | - | €1,015 | €5,629 | €111 | €286 | €1,847 | ▲ 545% |
| Cash at bank and in hand54/58 | €27,305 | €9,481 | €15,373 | €12,565 | €6,318 | €224 | €2,240 | €8,724 | ▲ 289% |
| Deferred charges and accrued income490/1 | - | - | - | - | €166 | - | - | €1,153 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €82,270 | €70,342 | €54,159 | €44,946 | €47,149 | €43,442 | €51,327 | €62,547 | ▲ 21.9% |
| Equity10/15 | €13,878 | €14,480 | €835 | -€11,886 | -€6,970 | €4,134 | €3,233 | €5,411 | ▲ 67.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€6,582 | -€5,980 | -€19,625 | -€32,346 | -€27,430 | -€16,326 | -€17,227 | -€15,049 | ▲ 12.6% |
| Amounts payable17/49 | €68,392 | €55,862 | €53,324 | €56,832 | €54,119 | €39,308 | €48,094 | €57,136 | ▲ 18.8% |
| Amounts payable after more than one year17 | - | - | €39,000 | €39,000 | €34,000 | €28,000 | €28,000 | €33,434 | ▲ 19.4% |
| Financial debts170/4 | - | - | - | €39,000 | €34,000 | €28,000 | €28,000 | €33,434 | ▲ 19.4% |
| Amounts payable within one year42/48 | €66,892 | €54,362 | €12,824 | €16,332 | €18,619 | €9,808 | €18,594 | €22,202 | ▲ 19.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €2,244 | - |
| Financial debts43 | - | - | - | - | - | €432 | - | - | - |
| Credit institutions430/8 | - | - | - | - | - | €432 | - | - | - |
| Trade debts44 | €21,890 | €10,934 | €6,574 | €11,610 | €13,542 | €3,920 | €11,502 | €13,878 | ▲ 20.7% |
| Suppliers440/4 | - | - | - | €11,610 | €13,542 | €3,920 | €11,502 | €13,878 | ▲ 20.7% |
| Taxes, remuneration and social security45 | - | - | - | €334 | €2,467 | €2,505 | €2,505 | €2,551 | ▲ 1.8% |
| Taxes450/3 | - | - | - | €334 | €371 | €244 | €206 | €236 | ▲ 14.2% |
| Remuneration and social security454/9 | - | - | - | - | €2,096 | €2,261 | €2,299 | €2,316 | ▲ 0.7% |
| Other amounts payable47/48 | - | - | - | €4,388 | €2,610 | €2,952 | €4,587 | €3,529 | ▼ 23.1% |
| Accrued charges and deferred income492/3 | - | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,127 | €602 | -€13,645 | -€12,721 | €4,915 | €11,105 | -€902 | €2,179 | - |
| + Depreciation and write-downs630 | €8,366 | €2,101 | €665 | €859 | €492 | €674 | €531 | €1,968 | ▲ 271% |
| Operating cash flow (approximation) | €12,493 | €2,703 | -€12,980 | -€11,862 | €5,407 | €11,779 | -€371 | €4,147 | - |
| Investment in fixed assets (approximation) | - | -€1,848 | -€1 | -€1,142 | -€892 | €0 | -€838 | -€10,343 | ▼ 1,135% |
| Change in cash | - | -€17,824 | €5,892 | -€2,808 | -€6,247 | -€6,094 | €2,016 | €6,484 | ▲ 222% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,083 companies had the same profile as Elek Stroobant has now. Two years later, 96.8% were still going and 0.8% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
96.8%
was still going
2.2%
stopped otherwise
0.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Elek Stroobant itself: 0.9% 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 1,083 companies, not a prediction for Elek Stroobant. 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.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00306441 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00209877 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00212964 | |
| 31-12-2022 | micro format | 17-07-2023 | 2023-00247383 | |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20197380 | |
| 31-12-2020 | micro format | 12-08-2021 | 2021-48900064 | |
| 31-12-2019 | micro format | 17-08-2020 | 2020-41700184 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54600002 | |
| 31-12-2017 | micro format | 10-08-2018 | 2018-44800279 | |
| 31-12-2016 | micro format | 20-07-2017 | 2017-33600436 |