ELEMENTAL
ActiveSummary
The computed 12-month bankruptcy probability of ELEMENTAL is 6.6% (elevated). The 2024 annual accounts show negative equity (-€657,858) and a net result of -€636,838. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 209 sector peers (NACE 32, financial year 2024). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€657,858
- Loss
- -€636,838
- Parent
- Lausha NV
Why 33raises risk1 financial year not filed after the legal deadline; last filed accounts filed 120 days late; 3 of the last 3 lateFigures for financial year 2024 (filed 04-12-2025)Liquidity: current ratio 0.85, cash €1,714, halvedlowers riskSize: total assets €1.6mShow the evidence
Checked score
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 32, micro): better than 6% on solvency, 25% on liquidity, 6% on profitability and 1% on growth.
The bankruptcy probability was computed on 28-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 111 days after the deadline; the sector median (NACE 32) for financial year 2024 is 2 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
- Annual accounts filedfinancial year 2024 · abbreviated…
- Capital & shares · Amendment of…Auditor report · Capital increase…
- Weakest financial yearnet -€636,838
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 29 October 2026.
2020 to 2024, 5 financial years 2019 to 2024, 6 financial years
The operating result stays negative: a loss of €621,007 in 2024 against €614,848 in 2023; the loss grows and 2024 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 32, Other manufacturing: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 562 companies that looked in July 2024 the way this one looks now, 7.1% went bankrupt within 24 months and 86.7% are still going.
- Small
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 6.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 562 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €109,457 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,917 | €100,474 | €30,219 | €66,967 | €87,457 | €109,788 | ▲ 25.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €6,959 | -€6,959 | - |
| Other operating charges640/8 | - | - | €120 | €244 | €132 | €1,818 | ▲ 14× |
| Gross operating margin9900 | -€214,376 | -€46,740 | -€217,383 | -€420,227 | -€520,300 | -€516,360 | ▲ 0.8% |
| Operating profit (loss)9901 | -€248,293 | -€147,810 | -€247,722 | -€487,437 | -€614,848 | -€621,007 | ▼ 1.0% |
| Financial income75/76B | - | - | - | €86 | €9 | €85 | ▲ 798% |
| Recurring financial income75 | - | €47 | - | €86 | €9 | €85 | ▲ 798% |
| Financial charges65/66B | - | - | €4,202 | €868 | €819 | €15,916 | ▲ 19× |
| Recurring financial charges65 | €188 | €2,051 | €4,202 | €868 | €819 | €15,916 | ▲ 19× |
| Profit (loss) for the period before taxes9903 | -€248,481 | -€149,814 | -€251,924 | -€488,219 | -€615,658 | -€636,838 | ▼ 3.4% |
| Profit (loss) for the period9904 | -€248,481 | -€149,814 | -€251,924 | -€488,219 | -€615,658 | -€636,838 | ▼ 3.4% |
| Profit (loss) for the period to be appropriated9905 | -€248,481 | -€149,814 | -€251,924 | -€488,219 | -€615,658 | -€636,838 | ▼ 3.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.3m | €0.4m | €1.1m | €1.8m | €1.8m | €1.6m | ▼ 10.0% |
| Formation expenses20 | €0.002m | €0.002m | €0.05m | €0.03m | €0.03m | €0.02m | ▼ 39.0% |
| Fixed assets21/28 | €0.2m | €0.4m | €0.7m | €1.0m | €1.1m | €1.1m | ▲ 5.3% |
| Intangible fixed assets21 | €0.2m | €0.3m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 31.7% |
| Tangible fixed assets22/27 | €0.006m | €0.01m | €0.6m | €0.9m | €0.9m | €0.9m | ▼ 0.4% |
| Plant, machinery and equipment23 | - | - | €0.009m | €0.006m | €0.003m | €0.004m | ▲ 39.4% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.01m | ▼ 29.7% |
| Assets under construction and advance payments27 | - | - | €0.6m | €0.8m | €0.9m | €0.9m | = |
| Current assets29/58 | €0.07m | €0.08m | €0.3m | €0.8m | €0.7m | €0.5m | ▼ 32.0% |
| Stocks and contracts in progress3 | €0.04m | €0.05m | €0.05m | €0.05m | €0.02m | €0.001m | ▼ 94.1% |
| Stocks30/36 | - | - | €0.05m | €0.05m | €0.02m | €0.001m | ▼ 94.1% |
| Amounts receivable within one year40/41 | €0.03m | €0.02m | €0.3m | €0.6m | €0.6m | €0.5m | ▼ 23.4% |
| Trade receivables40 | - | - | €0.2m | €0.5m | €0.3m | €0.1m | ▼ 52.7% |
| Other amounts receivable41 | - | - | €0.09m | €0.1m | €0.4m | €0.4m | ▼ 3.2% |
| Current investments50/53 | €0.007m | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | €0.002m | €0.005m | €0.1m | €0.04m | €0.002m | ▼ 96.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.02m | €0.001m | ▼ 94.6% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.3m | €0.4m | €1.1m | €1.8m | €1.8m | €1.6m | ▼ 10.0% |
| Equity10/15 | €0.3m | €0.1m | €0.6m | €0.1m | -€0.02m | -€0.7m | ▼ 3,030% |
| Contributions10/11 | €0.5m | €0.5m | €1.3m | €1.3m | €1.7m | €1.7m | = |
| Capital10 | - | - | €1.3m | €1.3m | €1.7m | €1.7m | = |
| Issued capital100 | - | - | €1.3m | €1.3m | €1.7m | €1.7m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.4m | -€0.7m | -€1.1m | -€1.8m | -€2.4m | ▼ 36.3% |
| Amounts payable17/49 | €0.07m | €0.3m | €0.5m | €1.7m | €1.8m | €2.3m | ▲ 25.0% |
| Amounts payable after more than one year17 | - | - | €0.3m | €0.3m | €0.3m | €1.7m | ▲ 490% |
| Financial debts170/4 | - | - | €0.3m | €0.3m | €0.3m | €1.7m | ▲ 490% |
| Amounts payable within one year42/48 | €0.07m | €0.3m | €0.2m | €1.4m | €1.5m | €0.6m | ▼ 63.0% |
| Trade debts44 | €0.04m | €0.1m | €0.2m | €0.6m | €0.6m | €0.6m | ▼ 8.6% |
| Suppliers440/4 | - | - | €0.2m | €0.6m | €0.6m | €0.6m | ▼ 8.6% |
| Bills of exchange payable441 | - | - | - | - | - | €0 | - |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.004m | - |
| Taxes450/3 | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | €0.8m | €0.9m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€248,481 | -€149,814 | -€251,924 | -€488,219 | -€615,658 | -€636,838 | ▼ 3.4% |
| + Depreciation and write-downs630 | €33,917 | €100,474 | €30,219 | €66,967 | €87,457 | €109,788 | ▲ 25.5% |
| Operating cash flow (approximation) | -€214,564 | -€49,340 | -€221,705 | -€421,252 | -€528,200 | -€527,050 | ▲ 0.2% |
| Investment in fixed assets (approximation) | - | -€218,594 | -€387,979 | -€323,288 | -€180,850 | -€166,624 | ▲ 7.9% |
| Change in cash | - | - | €3,025 | €91,053 | -€53,910 | -€40,818 | ▲ 24.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 28-11-2025 | 2025-00575940 |
| 31-12-2023 | abbreviated format | 16-12-2024 | 2024-00617049 |
| 31-12-2022 | abbreviated format | 19-01-2024 | 2024-00003472 |
| 31-12-2021 | abbreviated format | 23-12-2022 | 2022-20545223 |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-43700048 |
| 31-12-2019 | abbreviated format | 29-10-2020 | 2020-64800157 |
Similar companies · same sector and region
Subsidies and aid
Flemish government
2023 · 1 entry · €6,863 awarded · €6,863 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
1 ownerChain of control
- Lausha NV
- ELEMENTAL
Highest known parent: Lausha NV. The sources do not say who stands above it.
Owners 1
- Lausha NVconsolidating parentconsolidates
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 24-01-2025 Capital increase of €394,750 · 1,879 new shares · in kind
- 24-01-2025 Capital increase of €391,925 · to €2,125,000 · 2,305 new shares · in kind
- 17-02-2023 Capital increase of €358,075 · to €1,608,075 · 2,106 new shares · in kind
- 17-02-2023 Capital increase of €125,000 · to €1,733,075 · 595 new shares · in kind
Group and network
Connections & network
The network starts from this company’s shareholders. What else they own or run appears here as nodes.
History
Acts, filings and financial milestones
24-01
Gazette deed
Capital & shares · Amendment of the articles · NameAuditor report · Capital increase · Capital13 facts ▸
- Auditor report, 1/61279, “Norm inzake opdracht bedrijfsrevisor inbreng in natura en quasi-inbreng Instituut Bedrijfsrevisoren” (deed in Dutch)
- Other provision, “vertegenwoordiger, vertegenwoordiging bedrijfsrevisor” (deed in Dutch)
- Capital increase, €394,750
- Capital, €2,519,750
- Amendment of the articles, 5
- Power of attorney, Jeroen Parmentier
- General meeting, 13-01-2025
- Name change, ELEMENTAL
- Other provision, 16-01-2023
- Auditor report, “geen bevindingen van materieel belang, Norm inzake de opdracht van de bedrijfsrevisor in het kader van inbreng in natura en quasi-inbreng van het Instituut van…” (deed in Dutch)
- Capital increase, €391,925
- Other provision, “kennisname en onderzoek verslagen bestuursorgaan en bedrijfsrevisor tweede kapitaalverhoging in natura, artikelen 7:179 juncto 7:197 WVV” (deed in Dutch)
- +1 further fact in this act
17-02
Gazette deed
Capital & shares · Amendment of the articlesAuditor report · Capital increase · Share issue10 facts ▸
- General meeting, 17-01-2023
- Auditor report, “beschrijving inbreng in natura,waarderingsmethoden,vergoeding,getrouwheid financiële-boekhoudkundige gegevens”, 1/56518 (deed in Dutch)
- Capital increase, €358,075
- Auditor report, “beschrijving inbreng,waarderingsmethoden,vergoeding,getrouwheid financiële-boekhoudkundige gegevens, tweede kapitaalverhoging” (deed in Dutch)
- Auditor report, “beschrijving inbreng,waarderingsmethodes,vergoeding,beoordeling financiële en boekhoudkundige gegevens verslag bestuursorgaan”, 1/57113 (deed in Dutch)
- Capital increase, €125,000
- Share issue, “A”, 595 (deed in Dutch)
- Capital, €1,733,075
- Amendment of the articles, 5
- Capital contribution, €125,000
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44809B0661/00Y002 | Flanders | 2,736 m² | 1 · 637 m² | 18.4 m · 5 |
How the parcels are linked
Articles of association
- Other provisionsOther rules from the articles that fall under none of the themes above.
- Other provision: “Verantwoordelijkheden bestuursorgaan en bedrijfsrevisor bij inbreng in natura en uitgifte aandelen, conclusie beperkte zekerheid artikel…” (deed in Dutch)Other provision: “Verantwoordelijkheden,beoordeling en gebruiksbeperking verslag inbreng in natura en uitgifte aandelen, geringer dan controle,geen…” (deed in Dutch)
Read from the deeds: 2 provisions, deed of 17-02-2023