Summary
ELEX is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €1.48bn and a net result of -€64.7m. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 67% of 2789 sector peers (fiscal year 2024). The company has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-08-2025, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
25 d late
2023
22 d early
2022
49 d late
2021
4 d late
2020
17 d early
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema, statutory accounts
In the rankings
#1 company by total assets in Limburg, Finance and insurance sector#1 company by equity in Limburg, Finance and insurance sector#4 oldest company in Sint-Truiden, Finance and insurance sector
Equity
€1.48bn▼ 4.2%
2023 · €1.55bn
Net result
-€64.7m
2023 · €965.2m
Total assets
€1.94bn▲ 9.7%
2023 · €1.76bn
Solvency
76.6%▼ 11.1pp
2023 · 87.7%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€9,100
Operating result-€558,749▼ 14.2%-€93,870▲ 83.2%-€862,477▼ 819%-€1.3m▼ 50.5%-€1.9m▼ 49.1%
Net result€19.3m▲ 71.9%€29.0m▲ 50.2%€63.6m▲ 119%€965.2m▲ 1,417%-€64.7m
Equity€489.9m▲ 4.1%€518.9m▲ 5.9%€582.5m▲ 12.3%€1.55bn▲ 166%€1.48bn▼ 4.2%
Total assets€514.8m▲ 6.1%€590.3m▲ 14.7%€703.1m▲ 19.1%€1.76bn▲ 151%€1.94bn▲ 9.7%
Debt€24.9m▲ 72.1%€71.4m▲ 187%€120.5m▲ 68.8%€216.9m▲ 80.0%€452.9m▲ 109%
Working capital€73.4m▲ 49.8%€95.3m▲ 29.9%€151.8m▲ 59.3%€253.1m▲ 66.8%€169.7m▼ 33.0%
Solvency95.2%▼ 1.9pp87.9%▼ 7.3pp82.9%▼ 5.0pp87.7%▲ 4.9pp76.6%▼ 11.1pp
Staff (FTE)4.4▼ 6.4%6▲ 36.4%6.9▲ 15.0%6.8▼ 1.4%5.4▼ 20.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.9m in 2024 against €1.3m in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.94bn
Fixed assets
€1.63bn ▲ 10.9%
Current assets
€309.6m ▲ 3.9%
Equity and liabilities €1.94bn
Equity
€1.48bn ▼ 4.2%
Debt
€452.9m ▲ 109%
Debt's share of the balance-sheet total rises from 12.3% to 23.4%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.4%▼
2023 · 62.4%
ROA
-3.3%▼
2023 · 54.7%
Debt ≤ 1 year
€139.9m▲
2023 · €44.8m
Debt > 1 year
€69.3m▲
2023 · €57.7m
Income taxes
€13.1m▲
2023 · €12.0m
Staff costs
€338,288▼
2023 · €468,990
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €5.2m | €10.1m | €11.4m | €6.0m | ▼ 47.3% |
| Turnover70 | - | - | €9,100 | - | - | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €4.3m | €9.7m | €10.9m | €4.8m | ▼ 55.8% |
| Other operating income74 | - | €591,924 | €468,036 | €551,398 | €1.2m | ▲ 120% |
| Non-recurring operating income76A | - | €335,625 | - | - | - | - |
| Operating charges60/66A | - | €5.3m | €11.0m | €12.7m | €8.0m | ▼ 37.5% |
| Goods for resale, raw materials and consumables60 | - | €4.3m | €9.6m | €10.5m | €4.2m | ▼ 59.8% |
| Change in stocks: decrease (increase)609 | - | €4.3m | €9.6m | €10.5m | €4.2m | ▼ 59.8% |
| Services and other goods61 | - | €563,427 | €853,376 | €1.5m | €1.6m | ▲ 5.9% |
| Remuneration, social security and pensions62 | - | €406,982 | €476,421 | €468,990 | €338,288 | ▼ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,751 | €17,321 | €14,082 | €14,505 | €8,947 | ▼ 38.3% |
| Other operating charges640/8 | - | €76,310 | €91,424 | €251,577 | €1.8m | ▲ 618% |
| Operating profit (loss)9901 | -€558,749 | -€93,870 | -€862,477 | -€1.3m | -€1.9m | ▼ 49.1% |
| Financial income75/76B | - | €92.9m | €89.9m | €1.17bn | €195.6m | ▼ 83.3% |
| Recurring financial income75 | €26.1m | €92.9m | €89.9m | €1.17bn | €195.6m | ▼ 83.3% |
| Income from financial fixed assets750 | - | €91.3m | €37.5m | €1.08bn | €58.6m | ▼ 94.6% |
| Income from current assets751 | - | - | €70,027 | €2.1m | €3.0m | ▲ 46.0% |
| Other financial income752/9 | - | €1.6m | €52.3m | €89.3m | €134.0m | ▲ 50.1% |
| Non-recurring financial income76B | - | - | €16 | - | - | - |
| Financial charges65/66B | - | €63.6m | €22.7m | €196.0m | €245.3m | ▲ 25.2% |
| Recurring financial charges65 | €10.1m | €48.6m | €22.7m | €57.9m | €224.1m | ▲ 287% |
| Debt charges650 | €3,981 | €115,660 | €523,964 | €1.9m | €4.5m | ▲ 138% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | -€126,456 | €1.5m | €4.8m | - | - |
| Other financial charges652/9 | - | €48.6m | €20.7m | €51.2m | €219.7m | ▲ 329% |
| Non-recurring financial charges66B | - | €15.0m | - | €138.1m | €21.2m | ▼ 84.7% |
| Profit (loss) for the period before taxes9903 | €19.4m | €29.2m | €66.4m | €977.2m | -€51.6m | ▼ 105% |
| Income taxes67/77 | €126,715 | €212,458 | €2.7m | €12.0m | €13.1m | ▲ 8.9% |
| Taxes670/3 | - | €212,458 | €2.7m | €12.5m | €13.1m | ▲ 4.7% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €481,204 | - | - |
| Profit (loss) for the period9904 | €19.3m | €29.0m | €63.6m | €965.2m | -€64.7m | ▼ 107% |
| Profit (loss) for the period to be appropriated9905 | €19.3m | €29.0m | €63.6m | €965.2m | -€64.7m | ▼ 107% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €514.8m | €590.3m | €703.1m | €1.76bn | €1.94bn | ▲ 9.7% |
| Fixed assets21/28 | €436.6m | €489.4m | €539.0m | €1.47bn | €1.63bn | ▲ 10.9% |
| Tangible fixed assets22/27 | €105,472 | €40,644 | €27,793 | €13,288 | €4,341 | ▼ 67.3% |
| Land and buildings22 | - | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | €1,920 | €2,336 | €1,177 | €308 | ▼ 73.9% |
| Furniture and vehicles24 | - | €38,724 | €25,456 | €12,111 | €4,033 | ▼ 66.7% |
| Financial fixed assets28 | €436.4m | €489.4m | €539.0m | €1.47bn | €1.63bn | ▲ 10.9% |
| Affiliated companies280/1 | - | €305.2m | €354.8m | €425.6m | €401.8m | ▼ 5.6% |
| Participating interests280 | - | €189.1m | €189.1m | €233.0m | €235.6m | ▲ 1.1% |
| Amounts receivable281 | - | €116.1m | €165.7m | €192.6m | €166.2m | ▼ 13.7% |
| Companies linked by participating interests282/3 | - | €184.2m | €184.2m | €1.04bn | €1.04bn | = |
| Participating interests282 | - | €183.6m | €183.6m | €1.04bn | €1.04bn | = |
| Amounts receivable283 | - | €600,000 | €600,000 | €1.9m | €2.1m | ▲ 13.5% |
| Other financial fixed assets284/8 | - | - | - | €200,000 | €183.4m | ▲ 91,597% |
| Shares284 | - | - | - | €200,000 | €183.4m | ▲ 91,597% |
| Current assets29/58 | €78.3m | €100.9m | €164.0m | €297.9m | €309.6m | ▲ 3.9% |
| Amounts receivable after more than one year29 | - | €1.4m | €7.9m | €10.7m | €33.2m | ▲ 210% |
| Other amounts receivable291 | - | €1.4m | €7.9m | €10.7m | €33.2m | ▲ 210% |
| Stocks and contracts in progress3 | €584,794 | €4.8m | €10.2m | €16.3m | €19.7m | ▲ 20.8% |
| Contracts in progress37 | - | €4.8m | €10.2m | €16.3m | €19.7m | ▲ 20.8% |
| Amounts receivable within one year40/41 | €3.0m | €3.3m | €4.5m | €59.1m | €22.5m | ▼ 61.9% |
| Trade receivables40 | - | €669,987 | €2.1m | €8.4m | €13.8m | ▲ 64.2% |
| Other amounts receivable41 | - | €2.6m | €2.3m | €50.8m | €8.8m | ▼ 82.7% |
| Current investments50/53 | €28.1m | €37.0m | €37.0m | €110.5m | €33.9m | ▼ 69.3% |
| Own shares50 | - | €900,124 | €900,124 | €900,124 | €900,124 | = |
| Other investments51/53 | - | €36.1m | €36.1m | €109.6m | €33.0m | ▼ 69.9% |
| Cash at bank and in hand54/58 | €39.7m | €54.3m | €104.4m | €101.1m | €200.1m | ▲ 97.9% |
| Deferred charges and accrued income490/1 | - | €65,421 | €53,840 | €185,884 | €212,200 | ▲ 14.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €514.8m | €590.3m | €703.1m | €1.76bn | €1.94bn | ▲ 9.7% |
| Equity10/15 | €489.9m | €518.9m | €582.5m | €1.55bn | €1.48bn | ▼ 4.2% |
| Contributions10/11 | €173.3m | €173.3m | €173.3m | €173.3m | €173.3m | = |
| Capital10 | - | €173.3m | €173.3m | €173.3m | €173.3m | = |
| Issued capital100 | - | €173.3m | €173.3m | €173.3m | €173.3m | = |
| Reserves13 | €15.7m | €17.1m | €17.1m | €18.2m | €18.2m | = |
| Non-distributable reserves130/1 | - | €17.1m | €17.1m | €18.2m | €18.2m | = |
| Legal reserve130 | - | €16.2m | €16.2m | €17.3m | €17.3m | = |
| Own shares acquired1312 | - | €900,124 | €900,124 | €900,124 | €900,124 | = |
| Profit (loss) carried forward14 | €300.9m | €328.5m | €392.1m | €1.36bn | €1.29bn | ▼ 4.8% |
| Amounts payable17/49 | €24.9m | €71.4m | €120.5m | €216.9m | €452.9m | ▲ 109% |
| Amounts payable after more than one year17 | €585,840 | €2.8m | €37.7m | €57.7m | €69.3m | ▲ 20.2% |
| Financial debts170/4 | - | €2.8m | €37.7m | €57.7m | €69.3m | ▲ 20.2% |
| Credit institutions173 | - | - | €31.4m | €49.3m | €59.3m | ▲ 20.3% |
| Other loans174 | - | €2.8m | €6.3m | €8.4m | €10.0m | ▲ 19.5% |
| Amounts payable within one year42/48 | €4.9m | €5.6m | €12.2m | €44.8m | €139.9m | ▲ 212% |
| Current portion of amounts payable after more than one year42 | - | - | €5.7m | €10.0m | €40.7m | ▲ 307% |
| Financial debts43 | - | - | - | €20.0m | €83.5m | ▲ 318% |
| Credit institutions430/8 | - | - | - | €20.0m | €83.5m | ▲ 318% |
| Trade debts44 | €1.2m | €63,656 | €202,275 | €117,223 | €75,864 | ▼ 35.3% |
| Suppliers440/4 | - | €63,656 | €202,275 | €117,223 | €75,864 | ▼ 35.3% |
| Taxes, remuneration and social security45 | - | €142,807 | €2.5m | €13.0m | €15.6m | ▲ 19.6% |
| Taxes450/3 | - | €97,151 | €2.4m | €13.0m | €15.6m | ▲ 19.9% |
| Remuneration and social security454/9 | - | €45,655 | €55,131 | €51,354 | €31,718 | ▼ 38.2% |
| Other amounts payable47/48 | - | €5.4m | €3.8m | €1.7m | €14,000 | ▼ 99.2% |
| Accrued charges and deferred income492/3 | - | €63.0m | €70.6m | €114.4m | €243.7m | ▲ 113% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19.3m | €29.0m | €63.6m | €965.2m | -€64.7m | ▼ 107% |
| + Depreciation and write-downs630 | €16,751 | €17,321 | €14,082 | €14,505 | €8,947 | ▼ 38.3% |
| Operating cash flow (approximation) | €19.3m | €29.0m | €63.6m | €965.2m | -€64.7m | ▼ 107% |
| Investment in fixed assets (approximation) | - | -€52.9m | -€49.6m | -€927.6m | -€159.7m | ▲ 82.8% |
| Change in cash | - | €14.6m | €50.1m | -€3.3m | €99.0m | ▲ 3,105% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet -€64.7m
Net result drops to -€64.7m, the lowest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €965.2m ▲1,417%
Net result €965.2m, the highest in the series.
31-12
Financial
Equity above €1bnEq €1.55bn ▲166%
6 profitable years in a row build equity to €1.55bn.
18-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 49 days late
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 4 days late
2021
31-12
Financial
Equity above €500mEq €518.9m ▲5.9%
4 profitable years in a row build equity to €518.9m.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity times 5current ratio 13.57
Current ratio from 2.64 to 13.57; short-term debt falls from €19.4m to €3.9m.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
17-01
NBB filing
Annual accounts filed
fiscal year 2015 · consolidated · 535 days late
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
27-07
State Gazette act
Director resignation · Director discharge
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
15 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, Sint-Truiden · 1 establishment unit since 1991
Ground area
3,453 m²
Building footprint
2,606 m²
Volume, LiDAR
59,554 m³
Parcel 71353F0065/00V003, Flanders · tallest building 29.2 m, ±8 floors. Linked by address, not a title deed.
68
companies at this address
See who is registered here
1 establishment unit
ELEX
since 19912.038.594.362
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71353F0065/00V003 | Flanders | 3,453 m² | 1 · 2,606 m² | 29.2 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Heads the group
ELEX
4 companies
Group, risk and exposure
Connections & network
No current directors or connected companies found in the register.
Ownership & control
3 subsidiaries, 1 abroadRecognitions · licences · registrations
Legal Entity Identifier
549300J037J6OK77GX87
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 308 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-12-1980
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
71121Engineering and related technical consultancy, excluding land surveyors
70100Activities of head offices
Scores and ratios are computed by Checked and are not a credit decision.