ELIPSA
ActiveSummary
ELIPSA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €75,916 and a net result of €26,627. Equity is growing by ~21.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency99▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 3.4 against 2.63 in 2023; short-term debt: 25% and cash: 51% of total assets), and 26.1% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-09-2025, 47 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
47 d late
2023
on the day
2022
19 d early
2021
2 d early
2020
1 d early
2019
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 4 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€75,916▲ 51.5%
2023 · €50,123
Total assets
€102,727▲ 44.3%
2023 · €71,181
Net result
€26,627▼ 28.3%
2023 · €37,122
Working capital
€61,484▲ 80.6%
2023 · €34,042
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€18,055▲ 10.1%€12,612▼ 30.1%€15,131▲ 20.0%€49,421▲ 227%€35,253▼ 28.7%
Net result€13,061▲ 19.9%€8,655▼ 33.7%€10,475▲ 21.0%€37,122▲ 254%€26,627▼ 28.3%
Equity€39,355▲ 79.8%€48,010▲ 22.0%€58,485▲ 21.8%€50,123▼ 14.3%€75,916▲ 51.5%
Total assets€57,413▲ 16.5%€54,921▼ 4.3%€68,338▲ 24.4%€71,181▲ 4.2%€102,727▲ 44.3%
Debt€18,058▼ 34.1%€6,911▼ 61.7%€9,854▲ 42.6%€21,058▲ 114%€26,811▲ 27.3%
Working capital€23,740▲ 248%€30,045▲ 26.6%€42,914▲ 42.8%€34,042▼ 20.7%€61,484▲ 80.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 29% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €102,727
Fixed assets
€15,612 ▼ 4.0%
Current assets
€87,115 ▲ 58.6%
Equity and liabilities €102,727
Equity
€75,916 ▲ 51.5%
Debt
€26,811 ▲ 27.3%
Debt's share of the balance-sheet total falls from 29.6% to 26.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€39,049▼
2023 · €55,207
Cash flow
€30,423▼
2023 · €42,907
Current ratio
3.40▲
2023 · 2.63
Debt to equity
0.35▼
2023 · 0.42
ROE
35.1%▼
2023 · 74.1%
ROA
25.9%▼
2023 · 52.2%
Interest coverage
93.35▼
2023 · 157.88
Debt ≤ 1 year
€25,631▲
2023 · €20,880
Debt > 1 year
€275▲
2023 · €50
Income taxes
€8,923▼
2023 · €12,150
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
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 26,970 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €18 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,583 | €4,837 | €5,536 | €5,785 | €3,796 | ▼ 34.4% |
| Other operating charges640/8 | - | €1,129 | €4,501 | €2,082 | €1,887 | ▼ 9.4% |
| Gross operating margin9900 | €24,240 | €18,578 | €25,167 | €57,289 | €40,936 | ▼ 28.5% |
| Operating profit (loss)9901 | €18,055 | €12,612 | €15,131 | €49,421 | €35,253 | ▼ 28.7% |
| Financial income75/76B | - | - | €0 | €200 | €715 | ▲ 257% |
| Recurring financial income75 | - | - | €0 | €200 | €715 | ▲ 257% |
| Financial charges65/66B | - | €161 | €201 | €350 | €418 | ▲ 19.6% |
| Recurring financial charges65 | €199 | €161 | €201 | €350 | €418 | ▲ 19.6% |
| Profit (loss) for the period before taxes9903 | €17,855 | €12,450 | €14,930 | €49,272 | €35,549 | ▼ 27.9% |
| Income taxes67/77 | €4,794 | €3,795 | €4,455 | €12,150 | €8,923 | ▼ 26.6% |
| Profit (loss) for the period9904 | €13,061 | €8,655 | €10,475 | €37,122 | €26,627 | ▼ 28.3% |
| Profit (loss) for the period to be appropriated9905 | €13,061 | €8,655 | €10,475 | €37,122 | €26,627 | ▼ 28.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €57,413 | €54,921 | €68,338 | €71,181 | €102,727 | ▲ 44.3% |
| Fixed assets21/28 | €15,615 | €17,965 | €15,621 | €16,259 | €15,612 | ▼ 4.0% |
| Intangible fixed assets21 | €1,639 | €546 | €0 | - | - | - |
| Tangible fixed assets22/27 | €13,976 | €17,419 | €15,621 | €16,259 | €12,462 | ▼ 23.4% |
| Plant, machinery and equipment23 | - | €5,562 | €5,469 | €2,109 | €745 | ▼ 64.7% |
| Furniture and vehicles24 | - | €7,357 | €6,059 | €2,535 | €1,862 | ▼ 26.5% |
| Other tangible fixed assets26 | - | €4,500 | €4,093 | €11,615 | €9,855 | ▼ 15.2% |
| Financial fixed assets28 | - | - | - | - | €3,150 | - |
| Current assets29/58 | €41,798 | €36,956 | €52,718 | €54,922 | €87,115 | ▲ 58.6% |
| Amounts receivable within one year40/41 | €2,706 | €6,261 | €10,228 | €1,738 | €2,291 | ▲ 31.8% |
| Trade receivables40 | - | €1,890 | €5,539 | - | €2,291 | - |
| Other amounts receivable41 | - | €4,371 | €4,689 | €1,738 | - | - |
| Current investments50/53 | - | - | - | - | €30,000 | - |
| Cash at bank and in hand54/58 | €38,342 | €30,695 | €41,244 | €46,370 | €52,363 | ▲ 12.9% |
| Deferred charges and accrued income490/1 | - | - | €1,246 | €6,814 | €2,461 | ▼ 63.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €57,413 | €54,921 | €68,338 | €71,181 | €102,727 | ▲ 44.3% |
| Equity10/15 | €39,355 | €48,010 | €58,485 | €50,123 | €75,916 | ▲ 51.5% |
| Contributions10/11 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €15,694 | €15,694 | €15,694 | €50,123 | €75,916 | ▲ 51.5% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €13,834 | €13,834 | €50,123 | €75,916 | ▲ 51.5% |
| Profit (loss) carried forward14 | €5,061 | €13,716 | €24,191 | - | - | - |
| Amounts payable17/49 | €18,058 | €6,911 | €9,854 | €21,058 | €26,811 | ▲ 27.3% |
| Amounts payable after more than one year17 | - | - | €50 | €50 | €275 | ▲ 450% |
| Other amounts payable178/9 | - | - | €50 | €50 | €275 | ▲ 450% |
| Amounts payable within one year42/48 | €18,058 | €6,911 | €9,804 | €20,880 | €25,631 | ▲ 22.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €1,272 | - |
| Trade debts44 | €2,424 | €6,911 | €4,739 | €1,509 | €3,401 | ▲ 125% |
| Suppliers440/4 | - | €6,911 | €4,739 | €1,509 | €3,401 | ▲ 125% |
| Taxes, remuneration and social security45 | - | - | €5,064 | €1,728 | €2,208 | ▲ 27.8% |
| Taxes450/3 | - | - | €4,455 | €1,728 | €2,208 | ▲ 27.8% |
| Remuneration and social security454/9 | - | - | €609 | - | - | - |
| Other amounts payable47/48 | - | - | - | €17,643 | €18,750 | ▲ 6.3% |
| Accrued charges and deferred income492/3 | - | - | - | €128 | €905 | ▲ 607% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,061 | €8,655 | €10,475 | €37,122 | €26,627 | ▼ 28.3% |
| + Depreciation and write-downs630 | €4,583 | €4,837 | €5,536 | €5,785 | €3,796 | ▼ 34.4% |
| Operating cash flow (approximation) | €17,644 | €13,493 | €16,010 | €42,907 | €30,423 | ▼ 29.1% |
| Investment in fixed assets (approximation) | - | -€7,188 | -€3,191 | -€6,423 | -€3,150 | ▲ 51.0% |
| Change in cash | - | -€7,647 | €10,549 | €5,127 | €5,993 | ▲ 16.9% |
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
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €37,122 ▲254%
Operating result €49,421, net result €37,122, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 5.35
Current ratio from 2.31 to 5.35; short-term debt falls from €18,058 to €6,911.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Herentals · 1 establishment unit since 2017
Ground area
914 m²
Building footprint
290 m²
Volume, LiDAR
1,556 m³
2 parcels, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ELIPSA
since 20172.265.336.515
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13026B0118/00C002 | Flanders | 459 m² | 1 · 186 m² | 10.1 m · 2 fl. |
| 13026A0259/00E002 | Flanders | 455 m² | 1 · 104 m² | 10.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 2,355 EUR awarded · 2,355 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 930 EUR | 930 EUR |
| 2024 | 1 | 930 EUR | 930 EUR |
| 2022 | 1 | 495 EUR | 495 EUR |
Identification & contact
Identification
Legal formPrivate limited company
Founded20-06-2017
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676981905
Registered
23-12-2025
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.