ELIOX
ActiveFinancials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 12-11-2025 PDF all 12 filings
Turnover
≈ €3.7m
Estimated: probably between €2.5m and €6.0m
EBIT margin
Not included in this filing
Net result
€74,523▲ 137×
2023 · €543
Working capital
-€73,569▲ 50.6%
2023 · -€148,926
In the rankings
#10 employer in Antwerp, Other services sector
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€120,719
▲ 23×
2024
20182024
Net result
€74,523
▲ 137×
2024
highest quarter of the sector
20182024
Equity
-€71,356
▲ 51.1%
2024
lowest quarter of the sector
20182024
Total assets
€298,045
▲ 20.9%
2024
middle half of the sector
20182024
Debt
€369,401
▼ 5.9%
2024
20182024
Working capital
-€73,569
▲ 50.6%
2024
lowest quarter of the sector
20182024
Solvency
-23.9%
▲ 35.2pp
2024
lowest quarter of the sector
20182024
Current ratio
0.80
▲ 0.18
2024
middle half of the sector
20182024
Return on assets (ROA)
25.0%
▲ 24.8pp
2024
highest quarter of the sector
20182024
Staff (FTE)
60.4
▼ 5.9%
2024
highest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€3,037-€4,463-€65,073-€7,797▲ 88.0%-€94,286▼ 1,109%€5,352€120,719▲ 23×
Net result-€14,683--€5,836▲ 60.3%-€62,947below the sector's middle half▼ 979%-€6,720below the sector's middle half▲ 89.3%-€95,265below the sector's middle half▼ 1,318%€543within the sector's middle half€74,523above the sector's middle half▲ 137×
Equity€24,345-€18,510▼ 24.0%-€44,437below the sector's middle half-€51,157below the sector's middle half▼ 15.1%-€146,422below the sector's middle half▼ 186%-€145,879below the sector's middle half▲ 0.4%-€71,356below the sector's middle half▲ 51.1%
Total assets€373,878-€368,980▼ 1.3%€245,552within the sector's middle half▼ 33.5%€265,065within the sector's middle half▲ 7.9%€292,032within the sector's middle half▲ 10.2%€246,549within the sector's middle half▼ 15.6%€298,045within the sector's middle half▲ 20.9%
Debt€349,532-€350,470▲ 0.3%€289,989▼ 17.3%€316,222▲ 9.0%€438,454▲ 38.7%€392,428▼ 10.5%€369,401▼ 5.9%
Working capital€21,005-€27,125▲ 29.1%-€43,081below the sector's middle half-€54,678below the sector's middle half▼ 26.9%-€150,304below the sector's middle half▼ 175%-€148,926below the sector's middle half▲ 0.9%-€73,569below the sector's middle half▲ 50.6%
Solvency6.5%-5.0%▼ 1.5pp-18.1%below the sector's middle half▼ 23.1pp-19.3%below the sector's middle half▼ 1.2pp-50.1%below the sector's middle half▼ 30.8pp-59.2%below the sector's middle half▼ 9.0pp-23.9%below the sector's middle half▲ 35.2pp
Current ratio1.06-1.08▲ 0.020.85within the sector's middle half▼ 0.230.83within the sector's middle half▼ 0.020.66below the sector's middle half▼ 0.170.62below the sector's middle half▼ 0.040.80within the sector's middle half▲ 0.18
Return on assets (ROA)-3.9%--1.6%▲ 2.3pp-25.6%below the sector's middle half▼ 24.1pp-2.5%within the sector's middle half▲ 23.1pp-32.6%below the sector's middle half▼ 30.1pp0.2%within the sector's middle half▲ 32.8pp25.0%above the sector's middle half▲ 24.8pp
Staff (FTE)59.9-60.5▲ 1.0%61.1above the sector's middle half▲ 1.0%56.5above the sector's middle half▼ 7.5%57.5above the sector's middle half▲ 1.8%64.2above the sector's middle half▲ 11.7%60.4above the sector's middle half▼ 5.9%
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is nearly 23 times that of 2023 and the highest since 2018. It is the second rise in a row, after the fall in 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €298,045
Fixed assets
€2,213 ▼ 27.4%
Current assets
€295,833 ▲ 21.5%
Equity and liabilities
Equity-€71,356
Debt€369,401
Equity is negative. Debt (€369,401) exceeds the balance-sheet total (€298,045).
Key figures and ratios
EBITDA
€121,553▲
2023 · €6,187
Cash flow
€75,358▲
2023 · €1,378
Interest coverage
29.77▲
2023 · 1.38
Debt ≤ 1 year
€369,401▼
2023 · €392,428
Income taxes
€42,219▲
2023 · €341
Staff costs
€2.0m▲
2023 · €2.0m
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 70 | 74 | 77 | 73 |
| full-time | 26 | 24 | 25 | 20 |
| part-time | 44 | 50 | 52 | 53 |
| in full-time equivalents | 55.5 | 59.1 | 64.2 | 59.9 |
| Average over the year, in full-time equivalents | 56.5 | 57.5 | 63.7 | 60.4 |
| On a permanent contract | 62 | 62 | 69 | 67 |
| Joined | 52 | - | 58 | 30 |
| Left | 61 | - | 55 | 34 |
| Training hours | - | - | 696 | 673 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €3,210 | €449 | - | - |
| Financial fixed assets | €380 | €720 | - | - |
| Depreciation and write-downs of the year | €321 | €808 | €835 | €835 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 11 entries · €4.9m awarded · €4.9m paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €1.2m | €1.2m |
| 2024 | 3 | €1.4m | €1.4m |
| 2023 | 3 | €1.3m | €1.3m |
| 2022 | 2 | €1.1m | €1.0m |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.7m | €1.8m | €2.0m | €2.0m | ▲ 0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €132 | €132 | €321 | €0.001m | €0.001m | €0.001m | = |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.002m | €0.001m | ▼ 58.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €175 | - |
| Gross operating margin9900 | €1.8m | €1.9m | €1.5m | €1.7m | €1.7m | €2.0m | €2.1m | ▲ 5.8% |
| Operating profit (loss)9901 | -€0.003m | €0.004m | -€0.07m | -€0.008m | -€0.09m | €0.005m | €0.1m | ▲ 23× |
| Financial income75/76B | - | - | - | €0.003m | - | €0 | €106 | ▲ 392× |
| Recurring financial income75 | €131 | €0.004m | €0.004m | €0.003m | - | €0 | €106 | ▲ 392× |
| Financial charges65/66B | - | - | - | €0.002m | €0.001m | €0.004m | €0.004m | ▼ 8.6% |
| Recurring financial charges65 | €0.005m | €0.001m | €0.002m | €0.002m | €0.001m | €0.004m | €0.004m | ▼ 8.6% |
| Profit (loss) for the period before taxes9903 | -€0.008m | €0.007m | -€0.06m | -€0.006m | -€0.1m | €0.001m | €0.1m | ▲ 132× |
| Income taxes67/77 | €0.007m | €0.01m | - | €0.001m | €132 | €341 | €0.04m | ▲ 124× |
| Profit (loss) for the period9904 | -€0.01m | -€0.006m | -€0.06m | -€0.007m | -€0.1m | €0.001m | €0.07m | ▲ 137× |
| Profit (loss) for the period to be appropriated9905 | -€0.01m | -€0.006m | -€0.06m | -€0.007m | -€0.1m | €0.001m | €0.07m | ▲ 137× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €373,878 | €368,980 | €245,552 | €265,065 | €292,032 | €246,549 | €298,045 | ▲ 20.9% |
| Fixed assets21/28 | €3,341 | €385 | €252 | €3,521 | €3,882 | €3,048 | €2,213 | ▼ 27.4% |
| Tangible fixed assets22/27 | €3,221 | €265 | €132 | €3,021 | €2,662 | €1,828 | €993 | ▼ 45.7% |
| Furniture and vehicles24 | - | - | - | €3,021 | €2,662 | €1,828 | €993 | ▼ 45.7% |
| Financial fixed assets28 | €120 | €120 | €120 | €500 | €1,220 | €1,220 | €1,220 | = |
| Current assets29/58 | €370,537 | €368,595 | €245,299 | €261,544 | €288,150 | €243,501 | €295,833 | ▲ 21.5% |
| Amounts receivable within one year40/41 | €181,911 | €217,660 | €155,571 | €172,997 | €153,066 | €80,554 | €70,190 | ▼ 12.9% |
| Trade receivables40 | - | - | - | €78,474 | €46,410 | €21,895 | - | - |
| Other amounts receivable41 | - | - | - | €94,523 | €106,656 | €58,659 | €70,190 | ▲ 19.7% |
| Cash at bank and in hand54/58 | €185,224 | €143,503 | €84,993 | €87,827 | €135,084 | €162,947 | €225,643 | ▲ 38.5% |
| Deferred charges and accrued income490/1 | - | - | - | €721 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €373,878 | €368,980 | €245,552 | €265,065 | €292,032 | €246,549 | €298,045 | ▲ 20.9% |
| Equity10/15 | €24,345 | €18,510 | -€44,437 | -€51,157 | -€146,422 | -€145,879 | -€71,356 | ▲ 51.1% |
| Contributions10/11 | €9,300 | €9,300 | - | €9,300 | €9,300 | €9,300 | €9,300 | = |
| Reserves13 | €32,810 | €32,810 | €32,810 | €32,810 | €32,810 | €32,810 | €32,810 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €30,950 | €30,950 | €30,950 | €30,950 | = |
| Profit (loss) carried forward14 | -€17,765 | -€23,600 | -€86,547 | -€93,267 | -€188,532 | -€187,989 | -€113,466 | ▲ 39.6% |
| Amounts payable17/49 | €349,532 | €350,470 | €289,989 | €316,222 | €438,454 | €392,428 | €369,401 | ▼ 5.9% |
| Amounts payable within one year42/48 | €349,532 | €341,470 | €288,381 | €316,222 | €438,454 | €392,428 | €369,401 | ▼ 5.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €40,806 | €51,236 | €43,409 | €48,680 | ▲ 12.1% |
| Trade debts44 | €12,421 | €16,896 | €36,946 | €39,032 | €81,527 | €44,661 | €76,666 | ▲ 71.7% |
| Suppliers440/4 | - | - | - | €39,032 | €81,527 | €44,661 | €76,666 | ▲ 71.7% |
| Taxes, remuneration and social security45 | - | - | - | €186,384 | €254,691 | €270,358 | €243,663 | ▼ 9.9% |
| Taxes450/3 | - | - | - | - | - | - | €22,240 | - |
| Remuneration and social security454/9 | - | - | - | €186,384 | €254,691 | €270,358 | €221,423 | ▼ 18.1% |
| Other amounts payable47/48 | - | - | - | €50,000 | €51,000 | €34,000 | €392 | ▼ 98.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,683 | -€5,836 | -€62,947 | -€6,720 | -€95,265 | €543 | €74,523 | ▲ 137× |
| + Depreciation and write-downs630 | €2,955 | €132 | €132 | €321 | €808 | €835 | €835 | = |
| Operating cash flow (approximation) | -€11,728 | -€5,703 | -€62,814 | -€6,399 | -€94,457 | €1,378 | €75,358 | ▲ 55× |
| Investment in fixed assets (approximation) | - | €2,824 | €0 | -€3,590 | -€1,169 | €0 | €0 | - |
| Change in cash | - | -€41,720 | -€58,510 | €2,834 | €47,257 | €27,864 | €62,696 | ▲ 125% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,923 companies had the same profile as ELIOX has now. Two years later, 92.0% were still going and 2.8% had gone bankrupt.
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
- without size
92.0%
was still going
4.7%
stopped otherwise
2.8%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ELIOX itself: 1.7% 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 3,923 companies, not a prediction for ELIOX. 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.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 12-11-2025 | 2025-00565329 | |
| 31-12-2023 | full format | 04-02-2025 | 2025-00025697 | |
| 31-12-2022 | full format | 10-10-2023 | 2023-00482039 | |
| 31-12-2021 | full format | 05-09-2022 | 2022-20418513 | |
| 31-12-2020 | full format | 18-11-2021 | 2021-77600363 | |
| 31-12-2019 | abbreviated format | 10-11-2020 | 2020-69700474 | |
| 31-12-2018 | abbreviated format | 28-11-2019 | 2019-74500059 | |
| 31-12-2017 | abbreviated format | 31-12-2018 | 2018-76300380 | |
| 31-12-2016 | abbreviated format | 29-08-2017 | 2017-51200540 | |
| 31-12-2015 | abbreviated format | 27-06-2016 | 2016-21700499 |