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Elgi

Active
Private limited companyfounded 1981active for 44 yearsBrielmolenstraat 54, 9160 Lokeren, BelgiumKBO/BCE: BE 0422.233.872
Summary

The computed 12-month bankruptcy probability of Elgi is 2.1% (moderate). The 2025 annual accounts show negative equity (-€53,618) and a net result of -€888. Equity is shrinking by about 13% per year across the filed financial years. Its solvency ranks better than 5% of 645 sector peers (NACE 16, financial year 2025). The company has been active since 1981 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Manufacture of other wood products
NACE 16281
1 site
Size
€5,971total assets 2025
Equity
-€53,618
Loss
-€888
Turnover not published (micro format)
Financial health
51 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
2.1%
Structure
Accounts filed 5 days late2 of 4 deeds read
Why 51raises riskNegative equity -€53,618Sector: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)1 change of registered office in 24 monthslowers riskSize: total assets €5,971Show the evidence

Checked score

Score 2025
51 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 18% of its sector peers (NACE 16, micro)
Financial strength · tick = 2024
Weak
Solvency 0=
equity -897.9% of total assets
Liquidity 40+8
short-term debt 987.0% · cash 31.7%
Profitability 0=
return on assets -14.9%
Bankruptcy probability, 12 months
2.1% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (1,030 companies, NACE 16, micro)
Last 24 months 11-2024: 1.0%lowest value 12-2024: 1.0%● unchanged vs 11-2024 01-2025: 1.2%▲ +0.2 percentage points vs 12-2024 02-2025: 1.4%▲ +0.2 percentage points vs 01-2025 03-2025: 1.3%▼ -0.1 percentage points vs 02-2025 04-2025: 1.3%● unchanged vs 03-2025 05-2025: 1.3%● unchanged vs 04-2025 06-2025: 1.3%● unchanged vs 05-2025 07-2025: 1.3%● unchanged vs 06-2025 08-2025: 1.3%● unchanged vs 07-2025 09-2025: 1.3%● unchanged vs 08-2025 10-2025: 1.3%● unchanged vs 09-2025 11-2025: 1.3%● unchanged vs 10-2025 12-2025: 1.2%▼ -0.1 percentage points vs 11-2025 01-2026: 3.0%▲ +1.8 percentage points vs 12-2025 02-2026: 3.5%▲ +0.5 percentage points vs 01-2026highest value 03-2026: 2.1%▼ -1.4 percentage points vs 02-2026 04-2026: 2.1%● unchanged vs 03-2026 05-2026: 2.1%● unchanged vs 04-2026 06-2026: 2.1%● unchanged vs 05-2026 07-2026: 2.1%● unchanged vs 06-2026 08-2026: 2.1%● unchanged vs 07-2026 09-2026: 2.1%● unchanged vs 08-2026 10-2026: 2.1%● unchanged vs 09-2026
No credit on open account
Liquidity insufficient (current ratio 0.1, compared with 0.16 in 2024, below 1; short-term debt: 987% and cash: 31.7% of total assets), and equity is negative.
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 16, micro): better than 4% on solvency, 29% on liquidity, 8% on profitability and 32% on growth.

The bankruptcy probability was computed on 12-10-2026 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

Six signals.
lowers riskraises riskneutral
raises risk · Negative equity -€53,618
NBB · annual accounts
raises risk · Sector: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
KBO
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Size: total assets €5,971
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year -€53,618
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-02-2026, 5 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
5 days late
2024
28 days late
2023
6 days early
2022
2 days late
2021
on the day
2020
4 days early
2019
106 days early
← 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 12 days before the deadline; the sector median (NACE 16) for financial year 2024 is 3 days before the deadline, and 37% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 2 February (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
30-06-2026 year end13-10-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · micro…
  2. PurposePurpose change · Power of…
  3. Resignation: Gino Van Kerschaver (director)Appointment: Bob Maes (director) ·…

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€53,618 View
  • Risk: 5 loss-making years in a rowloss financial year 2025 -€888 View
  • Caution: Among the weakest 5% on solvencysector median 41.1% · 645 companies -897.9% View
  • Caution: Board changedlatest change 26-11-2025 · 1 in office 1 joined · 1 left View

By topic

Financials

Financial year
2025
Total assets
€5,971
Loss
-€888
Solvency
-897.9%
Total assets▼ 39.6%
Net result
20192025
Go to Financials

Timeline

Events
47
Since
1983
Next accounts
by 31-01-2027
  1. 28-02-2025Annual accounts filed
  2. 25-01-2024Annual accounts filed
  3. 02-02-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Manufacture of other wood productsNACE 16281
Founded
16-12-1981
Year ends
30-06
Peppol
Reachable for e-invoices
Go to Company details

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