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Elicio Wind For Water

Active
Public limited companyfounded 2021active for 5 yearsJohn Cordierlaan 9, 8400 Oostende, BelgiumKBO/BCE: BE 0765.857.263

From the official registers: KBO 5 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

The annual accounts of Elicio Wind For Water for financial year 2025 show a net loss of 72% of the equity at the start of that year. The 2025 annual accounts show equity of €536,081 and a net result of -€343,887. Equity has been shrinking by about 12% per year since 2021. Its solvency ranks better than 25% of 351 sector peers (NACE 35, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisFollow ReportCompare
Elicio Wind For WaterActiveChecked score 55/100
Risk analysis ReportCompare

Overview

Official details

KBO
Status
Active since 30-03-2021 Normal situation
Registered office
16 active companies are registered at this address Source: KBO register, as of 1 November 2026.
Activity
Production of electricity from non-renewable sources NACE 35110and 2 others
Establishment unit
2.317.603.479 8400 Oostende, since 30-03-2021
Financial year end
31 December
Peppol
Reachable since 09-12-2025
Company details

Board and ownership

Board
Auditor
Ernst et Young Reviseurs d'Entreprises
Shareholders
Board & ownership

Financial position

55 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Annual accounts 2025
Gross margin
€290,936
▲ 62.4%
Turnover
≈ €690,000
estimated
Loss
€343,887
▼ 24.2%
Equity
€536,081
▲ 11.7%
Total assets
€6.2m
▼ 6.8%
Filed on 15-06-2026, 46 days before the deadlineat the National Bank
Financials
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLiquidity: current ratio 0.75, cash €90,121Equity €536,081 (8.7% of total assets)lowers riskSize: total assets €6.2mFigures for financial year 2025 (filed on 15-06-2026)Show the evidence

Checked score

Score 2025
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 40% of small companies in electricity, gas and steam (NACE 35)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency 34+2
equity 8.7% of total assets
Liquidity 52=
short-term debt 6.6% · cash 1.5%
Profitability 35+11
return on assets -5.6%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (254 companies, NACE 35, small)
Last 24 months 11-2024: 0.3% 12-2024: 0.2%▼ -0.1 percentage points vs 11-2024lowest value 01-2025: 0.2%● unchanged vs 12-2024lowest value 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.3%▲ +0.1 percentage points vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.3%● unchanged 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: 0.5%▲ +0.1 percentage points vs 05-2026highest value 07-2026: 0.3%▼ -0.2 percentage points vs 06-2026 08-2026: 0.3%● unchanged vs 07-2026 09-2026: 0.3%● unchanged vs 08-2026 10-2026: 0.3%● unchanged vs 09-2026
Credit of up to €25,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.75 (0.59 in 2024), below 1. Short-term debt is 6.6% and cash 1.5% of total assets. 91.3% of the assets are financed with debt and provisions.
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, small). It does better than 23% of them on solvency, 49% on liquidity, 17% on profitability and 71% on growth.

The bankruptcy probability was computed on 31-10-2026 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. 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).

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Six signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €6.2m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.75, cash €90,121
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed on 15-06-2026)
NBB · annual accounts
raises risk · Equity €536,081 (8.7% of total assets)
NBB · annual accounts
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 351 sector peers (2025).
NBB · sector comparison
Position among 351 sector peers
Solvency
better than 25%
← weakest strongest →
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 15-06-2026, 46 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
46 days early
2024
56 days early
2023
68 days early
2022
54 days early
2021
52 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 5 accounts on average 55 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 7 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Caution: Lower net result than 89% of companies in electricity, gas and steamsector median €157,895 · 350 companies -€343,887 View
  • Caution: 2 loss-making years in a rowloss in financial year 2025 -€343,887 View
  • Positive: Always filed on timeaccounts within the deadline every year 5 years View

Companies linked to Elicio Wind For Water

Comparable companies

These companies have the same main activity as Elicio Wind For Water: production of electricity from non-renewable sources (NACE 35110). They are comparable in size and age: total assets between €3.6m and €6.3m, founded between 2020 and 2022.

CompanyTotal assetsGross margin
Elicio Wind For Water Oostende€6.2m€0.3m
SUNFIN Torhout€6.3m€0.3m
Messancy BioMétha Arlon€5.5m€0.5m
LemBeau Oostende€6.3m€0.6m
Green Nature Energy Gistel€3.6m€0.5m
MOULIN DU BOIS DE LA HUTTE Namur€4.5m€0.3m
YORKSHIRE ENERGIE Estinnes€4.9m€0.3m
Full comparison

Documents

Annual accounts at the NBB

All 5 annual accounts

Acts in the Belgian Official Gazette

All publications in the Belgian Official Gazette

Articles and registers

Key facts about Elicio Wind For Water
What is the company number of Elicio Wind For Water?
The company number of Elicio Wind For Water is 0765.857.263. The VAT number is the same number with BE in front: BE 0765.857.263.
Where is Elicio Wind For Water based?
The registered office is at John Cordierlaan 9, 8400 Oostende.Company details
What does Elicio Wind For Water do?
According to the KBO register, the main activity is production of electricity from non-renewable sources (NACE 35110).
What is the legal form of Elicio Wind For Water?
The legal form of Elicio Wind For Water is Public limited company (NV).
When was Elicio Wind For Water founded?
Elicio Wind For Water was founded on 30-03-2021.
Is Elicio Wind For Water still active?
Yes, Elicio Wind For Water is an active enterprise in the KBO register.
What is the turnover of Elicio Wind For Water?
The turnover in financial year 2025 is ≈ €690,000. This figure is estimated from the gross margin of €290,936 and 2,285 comparable companies of the same size. It probably lies between €410,000 and €1.2m. It is a rough estimate.Financials
Is Elicio Wind For Water profitable?
In financial year 2025, Elicio Wind For Water made a loss of €343,887.
Where can I find the annual accounts of Elicio Wind For Water?
Elicio Wind For Water filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of Elicio Wind For Water due?
Elicio Wind For Water must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

Next steps

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