ELFIQUE
ActiveSummary
The annual accounts of ELFIQUE for fiscal year 2025 show a net loss of 62% of the equity at the start of that year. The 2025 annual accounts show equity of €1.8m and a net result of -€712,563. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 66% of 110 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability2▼-10
Solvency59▲+13
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.86 against 0.72 in 2024; short-term debt: 43.2% and cash: 8.6% of total assets), and 66.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 11
Relative position
BE, all sectors
reference
Manufacture of beverages (NACE 11)
about 8% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
33.8%
Return on assets
-13.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-09-2026, 41 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 · 9 filingsDeviation from the deadline
2025
41 d late
2024
29 d late
2023
30 d late
2022
25 d early
2021
58 d early
2020
1 d early
2019
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 43% of the sector filed late.
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. Usually files around 29 August (4 of the last 5 filed years within 54 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 company by total assets in Aywaille, Manufacturing sector#3 company by equity in Aywaille, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€712,563▼ 65.7%
2024 · -€429,915
Working capital
-€312,436▲ 59.0%
2024 · -€761,329
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 11, Manufacture of beverages, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€197,139▲ 90.1%-€390,349-€429,043▼ 9.9%-€308,700▲ 28.0%-€660,931▼ 114%
Net result€357,725within the sector's middle half▲ 318%-€440,053below the sector's middle half-€490,694below the sector's middle half▼ 11.5%-€429,915below the sector's middle half▲ 12.4%-€712,563below the sector's middle half▼ 65.7%
Equity€2.0mwithin the sector's middle half▲ 674%€1.5mwithin the sector's middle half▼ 22.6%€1.6mwithin the sector's middle half▲ 3.3%€1.1mwithin the sector's middle half▼ 27.7%€1.8mabove the sector's middle half▲ 55.2%
Total assets€5.5mwithin the sector's middle half▲ 56.0%€5.8mwithin the sector's middle half▲ 4.7%€5.6mwithin the sector's middle half▼ 3.1%€5.4mwithin the sector's middle half▼ 3.3%€5.2mabove the sector's middle half▼ 3.0%
Debt€3.5m▲ 6.1%€4.2m▲ 20.5%€4.0m▼ 5.3%€4.2m▲ 6.6%€3.4m▼ 18.6%
Working capital€193,961within the sector's middle half-€551,189below the sector's middle half-€364,808below the sector's middle half▲ 33.8%-€761,329below the sector's middle half▼ 109%-€312,436below the sector's middle half▲ 59.0%
Solvency35.9%within the sector's middle half▲ 28.6pp26.5%within the sector's middle half▼ 9.3pp28.3%within the sector's middle half▲ 1.7pp21.1%within the sector's middle half▼ 7.1pp33.8%within the sector's middle half▲ 12.7pp
Current ratio1.11within the sector's middle half▲ 0.690.76below the sector's middle half▼ 0.360.84within the sector's middle half▲ 0.080.72below the sector's middle half▼ 0.120.86within the sector's middle half▲ 0.15
Return on assets (ROA)6.5%within the sector's middle half▲ 4.1pp-7.6%below the sector's middle half▼ 14.1pp-8.8%below the sector's middle half▼ 1.2pp-8.0%below the sector's middle half▲ 0.8pp-13.6%below the sector's middle half▼ 5.7pp
Staff (FTE)8within the sector's middle half▲ 40.4%7.1within the sector's middle half▼ 11.3%7.6within the sector's middle half▲ 7.0%7.6within the sector's middle half=7.9within the sector's middle half▲ 3.9%
above
within
below
the middle half (P25 to P75) of NACE 11, Manufacture of beverages, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -66% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €660,931 in 2025 against €308,700 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.2m
Fixed assets
€3.3m ▼ 5.3%
Current assets
€1.9m ▲ 1.1%
Equity and liabilities €5.2m
Equity
€1.8m ▲ 55.2%
Provisions
€24,042 ▼ 26.0%
Debt
€3.4m ▼ 18.6%
Debt's share of the balance-sheet total falls from 78.3% to 65.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€289,125▼
2024 · €61,804
Cash flow
-€340,756▼
2024 · -€59,410
Quick ratio
0.68▲
2024 · 0.55
Debt to equity
1.94▼
2024 · 3.70
ROE
-40.3%▼
2024 · -37.7%
Interest coverage
-3.38▼
2024 · 0.39
Debt ≤ 1 year
€2.3m▼
2024 · €2.7m
Debt > 1 year
€1.1m▼
2024 · €1.4m
Staff costs
€352,062▼
2024 · €371,389
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,597 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.2%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,597 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,204 | - | - | - | - |
| Remuneration, social security and pensions62 | €241,579 | €241,581 | €308,648 | €371,389 | €352,062 | ▼ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €188,685 | €356,795 | €373,748 | €370,505 | €371,807 | ▲ 0.4% |
| Other operating charges640/8 | €89,931 | €106,880 | €106,631 | €81,514 | €214,390 | ▲ 163% |
| Non-recurring operating charges66A | - | €611 | €0 | - | €140 | - |
| Gross operating margin9900 | €717,333 | €315,518 | €359,984 | €514,708 | €277,467 | ▼ 46.1% |
| Operating profit (loss)9901 | €197,139 | -€390,349 | -€429,043 | -€308,700 | -€660,931 | ▼ 114% |
| Financial income75/76B | €269,551 | €5,267 | €28,512 | €30,013 | €25,525 | ▼ 15.0% |
| Recurring financial income75 | €4,508 | €5,267 | €28,512 | €30,013 | €25,525 | ▼ 15.0% |
| Non-recurring financial income76B | €265,043 | - | €0 | - | - | - |
| Financial charges65/66B | €51,566 | €63,177 | €96,694 | €159,672 | €85,601 | ▼ 46.4% |
| Recurring financial charges65 | €51,566 | €63,177 | €96,694 | €159,672 | €85,601 | ▼ 46.4% |
| Profit (loss) for the period before taxes9903 | €415,124 | -€448,259 | -€497,225 | -€438,359 | -€721,007 | ▼ 64.5% |
| Transfer from deferred taxes780 | €8,444 | €8,444 | €8,444 | €8,444 | €8,444 | = |
| Transfer to deferred taxes680 | €66,261 | - | - | - | - | - |
| Income taxes67/77 | -€417 | €238 | €1,913 | €0 | - | - |
| Profit (loss) for the period9904 | €357,725 | -€440,053 | -€490,694 | -€429,915 | -€712,563 | ▼ 65.7% |
| Transfer from tax-exempt reserves789 | €28,006 | €22,657 | €25,331 | €25,331 | €25,331 | = |
| Transfer to tax-exempt reserves689 | €198,782 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €186,948 | -€417,396 | -€465,363 | -€404,584 | -€687,232 | ▼ 69.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.5m | €5.8m | €5.6m | €5.4m | €5.2m | ▼ 3.0% |
| Formation expenses20 | €13,964 | €8,894 | €3,823 | €703 | €0 | ▼ 100% |
| Fixed assets21/28 | €3.6m | €4.0m | €3.7m | €3.5m | €3.3m | ▼ 5.3% |
| Intangible fixed assets21 | €85,271 | €62,924 | €41,680 | €16,707 | €6,740 | ▼ 59.7% |
| Tangible fixed assets22/27 | €3.3m | €3.8m | €3.5m | €3.3m | €3.1m | ▼ 5.3% |
| Land and buildings22 | €2.4m | €2.8m | €2.7m | €2.8m | €2.8m | ▲ 0.4% |
| Plant, machinery and equipment23 | €647,976 | €803,389 | €680,509 | €381,039 | €258,751 | ▼ 32.1% |
| Furniture and vehicles24 | €255,817 | €221,681 | €150,305 | €137,358 | €75,371 | ▼ 45.1% |
| Leasing and similar rights25 | €6,212 | - | - | - | - | - |
| Financial fixed assets28 | €144,350 | €144,350 | €144,350 | €144,350 | €144,350 | = |
| Current assets29/58 | €1.9m | €1.7m | €1.9m | €1.9m | €1.9m | ▲ 1.1% |
| Amounts receivable after more than one year29 | - | - | €534,876 | €789,097 | €695,211 | ▼ 11.9% |
| Trade receivables290 | - | - | €534,876 | €789,097 | €695,211 | ▼ 11.9% |
| Stocks and contracts in progress3 | €173,096 | €467,945 | €558,961 | €446,477 | €404,659 | ▼ 9.4% |
| Stocks30/36 | €173,096 | €467,945 | €558,961 | €446,477 | €404,659 | ▼ 9.4% |
| Amounts receivable within one year40/41 | €1.5m | €1.2m | €784,650 | €646,687 | €395,777 | ▼ 38.8% |
| Trade receivables40 | €854,310 | €947,961 | €522,039 | €607,264 | €367,804 | ▼ 39.4% |
| Other amounts receivable41 | €623,533 | €281,701 | €262,611 | €39,422 | €27,973 | ▼ 29.0% |
| Cash at bank and in hand54/58 | €263,689 | €14,018 | €509 | €43,360 | €448,897 | ▲ 935% |
| Deferred charges and accrued income490/1 | - | €10,582 | €1,956 | €0 | €2,400 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.5m | €5.8m | €5.6m | €5.4m | €5.2m | ▼ 3.0% |
| Equity10/15 | €2.0m | €1.5m | €1.6m | €1.1m | €1.8m | ▲ 55.2% |
| Contributions10/11 | €2.1m | €2.1m | €2.7m | €2.7m | €4.1m | ▲ 49.0% |
| Capital10 | €2.1m | €2.1m | €2.7m | €2.7m | €4.1m | ▲ 49.0% |
| Issued capital100 | €2.1m | €2.1m | €2.7m | €2.7m | €4.1m | ▲ 49.0% |
| Reserves13 | €170,776 | €148,119 | €122,789 | €97,457 | €72,125 | ▼ 26.0% |
| Tax-exempt reserves132 | €170,776 | €148,119 | €122,789 | €97,457 | €72,125 | ▼ 26.0% |
| Profit (loss) carried forward14 | -€441,423 | -€858,819 | -€1.3m | -€1.7m | -€2.4m | ▼ 39.8% |
| Investment grants15 | €128,599 | €123,352 | €39,257 | €32,331 | €31,184 | ▼ 3.5% |
| Provisions and deferred taxes16 | €57,817 | €49,373 | €40,929 | €32,486 | €24,042 | ▼ 26.0% |
| Deferred taxes168 | €57,817 | €49,373 | €40,929 | €32,486 | €24,042 | ▼ 26.0% |
| Amounts payable17/49 | €3.5m | €4.2m | €4.0m | €4.2m | €3.4m | ▼ 18.6% |
| Amounts payable after more than one year17 | €1.7m | €1.9m | €1.6m | €1.4m | €1.1m | ▼ 21.1% |
| Financial debts170/4 | €1.7m | €1.9m | €1.6m | €1.4m | €1.1m | ▼ 21.1% |
| Amounts payable within one year42/48 | €1.7m | €2.3m | €2.2m | €2.7m | €2.3m | ▼ 15.9% |
| Current portion of amounts payable after more than one year42 | €404,475 | €551,978 | €671,834 | €593,132 | €700,673 | ▲ 18.1% |
| Financial debts43 | - | - | €6,736 | €1,304 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €5,792 | €0 | - | - |
| Other loans439 | - | - | €944 | €1,304 | €0 | ▼ 100% |
| Trade debts44 | €851,823 | €1.1m | €848,455 | €1.0m | €834,876 | ▼ 17.0% |
| Suppliers440/4 | €851,823 | €1.1m | €848,455 | €1.0m | €834,876 | ▼ 17.0% |
| Advances received on contracts in progress46 | - | - | - | €632 | €1,526 | ▲ 141% |
| Taxes, remuneration and social security45 | €19,540 | €28,067 | €160,769 | €346,837 | €330,731 | ▼ 4.6% |
| Taxes450/3 | €3,518 | €14,201 | €73,303 | €205,642 | €129,181 | ▼ 37.2% |
| Remuneration and social security454/9 | €16,022 | €13,866 | €87,466 | €141,195 | €201,550 | ▲ 42.7% |
| Other amounts payable47/48 | €444,830 | €598,345 | €557,967 | €739,583 | €391,574 | ▼ 47.1% |
| Accrued charges and deferred income492/3 | €1,300 | €3,900 | €67,679 | €93,660 | €40,118 | ▼ 57.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €357,725 | -€440,053 | -€490,694 | -€429,915 | -€712,563 | ▼ 65.7% |
| + Depreciation and write-downs630 | €188,685 | €356,795 | €373,748 | €370,505 | €371,807 | ▲ 0.4% |
| Operating cash flow (approximation) | €546,410 | -€83,258 | -€116,946 | -€59,410 | -€340,756 | ▼ 474% |
| Investment in fixed assets (approximation) | - | -€812,466 | -€41,490 | -€146,784 | -€187,490 | ▼ 27.7% |
| Change in cash | - | -€249,671 | -€13,509 | €42,851 | €405,537 | ▲ 846% |
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
Next filing, fiscal year 2026, expected by
2026
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 41 days late
2025
31-12
Financial
Weakest financial yearnet -€712,563
Net result drops to -€712,563, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €357,725 ▲318%
Operating result €197,139, net result €357,725, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.11
Current ratio from 0.42 to 1.11; short-term debt falls from €1.9m to €1.7m.
31-12
Financial
Equity above €1mEq €2.0m ▲674%
2 profitable years in a row build equity to €2.0m.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €85,601
Net result €85,601 after 2 loss-making years.
31-12
Financial
Equity above €200,000Eq €254,736 ▲44.9%
Equity rises from €175,751 to €254,736.
Show earlier events
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB 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, Aywaille · 1 establishment unit since 2016
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.
Rue de Raborive 24920 Aywaille1 establishment unit
ELFIQUE
since 20162.259.037.849
Structure & network
Owners and holdings
3 owners · 1 holdingOwners 3
-
19.2%
- Sourceaccounts DANATEL 202412.54%
- Sourceaccounts PRACO 202411.81%
Holdings 1
-
100%
According to the 2025 annual accounts of ELFIQUE and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAywaille2.259.037.849
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Of 729 companies in sector 11050 we hold annual accounts for 352. 111 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
Founded02-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
11050Manufacture of beer
56301Cafés and bars
Contact
Phone
0473595655Aywaille
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666902615
Also
9925:BE0666902615
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.