Equity
€1.73bn ▼ 2.1%
ELIA ASSET paid out €135.3m in dividends. That is 97% of the 2025 profit.
ELIA ASSET
Lifetime
19 annual accounts with figures on one time axis, 25 filings since 2001Turnoverpeak €963.7m (2025)
€963.7m▲ 15.5%
Resultpeak €140.2m (2025)
€140.2m▲ 27.2%
Equitypeak €1.76bn (2024)
€1.73bn▼ 2.1%
Debts
€5.41bn▲ 24.9%
Staffpeak 999.9 FTE (2025)
999.9 FTE▲ 6.7%
Board84 names since 2004all names
15 directorsDominique Offergeld and 14 others
Owners3 names in the annual accounts
99.99%Elia Transmission Belgium and 2 others
Documentsfilings and deeds
30-07-20261 days before the deadline
2025financial year
Turnover from €834.0m to €963.7mResult from €110.2m to €140.2mPowers of attorney: GUISSARD Geoffrey, VAN EKERT Ischa and 46… 18-123 directors appointed, 3 resignations 07-11Amendment of the articles 24-03Dividend €135.3m
Key points
from the 2025 annual accountsDebts
€5.41bn 75% of the balance sheet
Financial debts 9%Suppliers 10%Taxes and wages 1%Other 80%
Of this, €1.22bn falls due within a year.
Investments
€1.26bn 5.6 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 12.9% higher than in 2024.
Payment terms
618 days to suppliers
ELIA ASSET pays its suppliers 184 days later than in 2024. Customers pay 36 days later.
Board
5 joined · 5 left
Board changed. Latest change 08-10-2026 · 14 in office.
Public contracts
178 awards
Public contracts awarded. To 111 suppliers, 2018 to 2026.
Checked score
82
Excellent
Financially stronger than 48% of large companies in electricity, gas and steam (NACE 35)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 54 companies (NACE 35, large).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025lowest value
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.4%▲ +0.1 percentage points vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.3%▼ -0.1 percentage points vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.4%▲ +0.1 percentage points vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.5%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.5%● unchanged vs 07-2026highest value
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.24, cash €8.0m
Equity €1.73bn (24.0% of total assets)
14 establishment units
lowers risk
Founded in 2001
Calculation
The band follows from the bankruptcy probability. 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 35, large). It does better than 57% of them on solvency, 24% on liquidity, 63% on profitability and 47% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 168 companies had the same profile as ELIA ASSET has now. Each dot is one company, two years later.
98.2%
were still trading
0.6%
stopped another way
1.2%
went bankrupt
That fits the bankruptcy probability of ELIA ASSET itself: 0.5% 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 168 companies, not a prediction for ELIA ASSET. 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.
Credit verdict
Credit of up to €96,350,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.24 (0.21 in 2024), below 1. Short-term debt is 17% and cash 0.1% of total assets. 76% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
41 days early
2023
37 days early
2022
47 days early
2021
34 days early
2020
73 days early
2019
48 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 40 days before the deadline. In the sector (NACE 35), the median for financial year 2024 was 22 days before the deadline, and 27% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
BB
BDO Bedrijfsrevisoren bv
Auditor, Michaël Delbeke
- Elia Transmission Belgium 99.99%score 82equity €3.86bn (2025) · annual accounts 2025
- NextGrid Holding 0.01%score 70equity €3.12bn (2026) · 31-05-2026 annual accounts of NextGrid Holding
- PUBLI-T 0.01%equity €2.15bn (2025) · annual accounts 2025
Shares in 2 companies, Elia Engineering and ELIA RE
Board & ownershipRecent changes
Environmental permit granted
Nieuwbouw of aanleggen · Departement Omgeving
5 directors appointed, 4 resignations, 3 reappointments, 2 statutory auditors reappointed
Resignations: Roberte Kesteman (independent director), Geert Versnick (chair of the board and non-independent director), Pieter De Crem (non-independent director) and Interfin CV (non-independent director) · Appointments: Christophe Peeters (non-independent director), Dominque Offergeld (vice-chair), Claire Tillekaerts (independent director), Joachim Coens (non-independent director) and Nadège Lacroix (non-independent director) · Permanent representatives: Thibaud Wyngaard, Frédéric De Mee and Michaël Delbeke · General meeting of 19-05-2026 · Gazette deed
Environmental permit granted
Bouwen of herbouwen, Een grond gebruiken, aanleggen of inrichten, Het reliëf van de bodem aanmerkelijk wijzigen and 2 more · Departement Omgeving
Electricity line permit granted
Decision of 23-09-2026, published on 09-10-2026
Official details
Source: KBO- Status
- Active since 29-06-2001Normal situation
- Activity
- Electricity, gas, steam and air conditioning supplyNACE 35130
- Joint committee
- 326Gas and electricity · annual accounts 2025
- Establishment units
- 2.143.072.0721000 Brussels, since 01-07-2001
- 2.143.072.4682170 Antwerp, since 01-07-2001and 12 others
- Financial year end
- 31 December
- Peppol
- Reachable since 04-11-2025
Annual accounts 2025
- Total assets
- €7.19bn▲ 17.1%
- Employeeson 31-12-2025
- 1,049▲ 7.5%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Companies linked to ELIA ASSET
Parent and group
Insights on ELIA ASSET
ELIA ASSET has existed since 2001. Turnover grew from €335.7m in 2007 to €963.7m in 2025.
Turnover has grown every year since 2019.
Elia Transmission Belgium holds all the shares. In June 2023, five directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ELIA ASSET
- What is the company number of ELIA ASSET?
- The company number of ELIA ASSET is 0475.028.202. The VAT number is the same number with BE in front: BE 0475.028.202.
- Where is ELIA ASSET based?
- The registered office is at Keizerslaan 20, 1000 Brussels.Company details
- What does ELIA ASSET do?
- According to the KBO register, the main activity is electricity, gas, steam and air conditioning supply (NACE 35130).
- What is the legal form of ELIA ASSET?
- ELIA ASSET is a public limited company (NV).
- When was ELIA ASSET founded?
- ELIA ASSET was founded on 29-06-2001.
- Is ELIA ASSET still active?
- Yes, ELIA ASSET is an active enterprise in the KBO register.
- How many employees does ELIA ASSET have?
- ELIA ASSET had an average of 999.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does ELIA ASSET fall under?
- In its 2025 annual accounts, ELIA ASSET states joint committee 326 (Gas and electricity).
- What is the turnover of ELIA ASSET?
- The turnover of ELIA ASSET was €963.7m in financial year 2025, according to the filed annual accounts.
- Is ELIA ASSET profitable?
- In financial year 2025, ELIA ASSET made a profit of €140.2m.
- Where can I find the annual accounts of ELIA ASSET?
- ELIA ASSET filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ELIA ASSET due?
- ELIA ASSET must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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