ELIXINE
ActiveSummary
ELIXINE has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of -€3,807. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 90% of 4238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-1
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity short (current ratio 0.47 against 0.36 in 2024; short-term debt: 5.9% and cash: 1% of total assets), and 18.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.1%
Return on assets
-0.2%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 10 filingsDeviation from the deadline
2025
24 d late
2024
9 d early
2023
21 d early
2022
45 d early
2021
33 d early
2020
22 d early
2019
49 d 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 22 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 11 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,807
2024 · €2,712
Working capital
-€56,031▲ 39.7%
2024 · -€92,927
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€38,791▼ 167%-€131,859▼ 240%€1,944€17,137▲ 782%€11,457▼ 33.1%
Net result-€19,270below the sector's middle half▼ 421%-€117,463below the sector's middle half▼ 510%-€13,153below the sector's middle half▲ 88.8%€2,712below the sector's middle half-€3,807below the sector's middle half
Equity€1.6mabove the sector's middle half▼ 1.2%€1.5mabove the sector's middle half▼ 7.4%€1.5mabove the sector's middle half▼ 0.9%€1.5mabove the sector's middle half▲ 0.2%€1.5mabove the sector's middle half▼ 0.3%
Total assets€1.8mabove the sector's middle half▼ 4.1%€2.0mabove the sector's middle half▲ 10.8%€2.0mabove the sector's middle half▼ 4.7%€1.9mabove the sector's middle half▼ 1.9%€1.8mwithin the sector's middle half▼ 5.9%
Debt€253,121▼ 19.2%€570,775▲ 125%€488,324▼ 14.4%€448,684▼ 8.1%€339,764▼ 24.3%
Working capital€659,494above the sector's middle half▲ 4.9%-€28,002below the sector's middle half-€15,113below the sector's middle half▲ 46.0%-€92,927below the sector's middle half▼ 515%-€56,031below the sector's middle half▲ 39.7%
Solvency86.3%above the sector's middle half▲ 2.6pp72.1%above the sector's middle half▼ 14.2pp75.0%above the sector's middle half▲ 2.9pp76.6%above the sector's middle half▲ 1.6pp81.1%above the sector's middle half▲ 4.6pp
Current ratio10.26above the sector's middle half▲ 1.690.73below the sector's middle half▼ 9.530.85below the sector's middle half▲ 0.120.36below the sector's middle half▼ 0.500.47below the sector's middle half▲ 0.12
Return on assets (ROA)-1.0%below the sector's middle half▼ 0.9pp-5.7%below the sector's middle half▼ 4.7pp-0.7%below the sector's middle half▲ 5.1pp0.1%below the sector's middle half▲ 0.8pp-0.2%within the sector's middle half▼ 0.4pp
Staff (FTE)1below the sector's middle half▲ 900%0.7below the sector's middle half▼ 30.0%0.5below the sector's middle half▼ 28.6%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.8m ▼ 6.0%
Current assets
€50,334 ▼ 2.5%
Equity and liabilities €1.8m
Equity
€1.5m ▼ 0.3%
Debt
€339,764 ▼ 24.3%
Debt's share of the balance-sheet total falls from 23.4% to 18.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€122,911▼
2024 · €125,120
Cash flow
€107,647▼
2024 · €110,695
Quick ratio
0.21▲
2024 · 0.06
Debt to equity
0.23▼
2024 · 0.31
ROE
-0.3%▼
2024 · 0.2%
Interest coverage
8.05▼
2024 · 8.75
Debt ≤ 1 year
€106,364▼
2024 · €144,534
Debt > 1 year
€233,400▼
2024 · €304,150
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 8,611 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €7,541 | - | - | - |
| Remuneration, social security and pensions62 | €33,336 | €22,083 | €3,722 | -€73 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110,614 | €213,414 | €106,604 | €107,984 | €111,454 | ▲ 3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €16,408 | - |
| Other operating charges640/8 | €23,468 | €11,948 | €15,581 | €16,122 | - | - |
| Gross operating margin9900 | €128,627 | €115,587 | €127,851 | €141,170 | €139,319 | ▼ 1.3% |
| Operating profit (loss)9901 | -€38,791 | -€131,859 | €1,944 | €17,137 | €11,457 | ▼ 33.1% |
| Financial income75/76B | €21,851 | €18,866 | €106 | €85 | €0 | ▼ 99.7% |
| Recurring financial income75 | €21,851 | €18,866 | €106 | €85 | €0 | ▼ 99.7% |
| Financial charges65/66B | €3,517 | €3,210 | €15,203 | €14,297 | €15,265 | ▲ 6.8% |
| Recurring financial charges65 | €3,517 | €3,210 | €15,203 | €14,297 | €15,265 | ▲ 6.8% |
| Profit (loss) for the period before taxes9903 | -€20,457 | -€116,203 | -€13,153 | €2,925 | -€3,807 | ▼ 230% |
| Income taxes67/77 | -€1,188 | €1,260 | €0 | €213 | - | - |
| Profit (loss) for the period9904 | -€19,270 | -€117,463 | -€13,153 | €2,712 | -€3,807 | ▼ 240% |
| Profit (loss) for the period to be appropriated9905 | -€19,270 | -€117,463 | -€13,153 | €2,712 | -€3,807 | ▼ 240% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €2.0m | €2.0m | €1.9m | €1.8m | ▼ 5.9% |
| Fixed assets21/28 | €1.1m | €2.0m | €1.9m | €1.9m | €1.8m | ▼ 6.0% |
| Tangible fixed assets22/27 | €1.1m | €2.0m | €1.9m | €1.9m | €1.8m | ▼ 6.0% |
| Land and buildings22 | €1.1m | €2.0m | €1.9m | €1.9m | €1.8m | ▼ 5.9% |
| Furniture and vehicles24 | €4,693 | €3,301 | €1,941 | €1,066 | €191 | ▼ 82.0% |
| Current assets29/58 | €730,680 | €76,362 | €87,362 | €51,607 | €50,334 | ▼ 2.5% |
| Stocks and contracts in progress3 | €39,043 | €38,023 | €46,857 | €43,388 | €27,577 | ▼ 36.4% |
| Stocks30/36 | €39,043 | €38,023 | €46,857 | €43,388 | €27,577 | ▼ 36.4% |
| Amounts receivable within one year40/41 | €676,161 | €26,517 | €5,079 | €1,662 | €2,502 | ▲ 50.6% |
| Trade receivables40 | €10,417 | €3,807 | €1,794 | €1,662 | €1,203 | ▼ 27.6% |
| Other amounts receivable41 | €665,744 | €22,710 | €3,285 | - | €1,299 | - |
| Cash at bank and in hand54/58 | €13,591 | €9,762 | €31,348 | €2,196 | €17,323 | ▲ 689% |
| Deferred charges and accrued income490/1 | €1,885 | €2,060 | €4,077 | €4,362 | €2,932 | ▼ 32.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €2.0m | €2.0m | €1.9m | €1.8m | ▼ 5.9% |
| Equity10/15 | €1.6m | €1.5m | €1.5m | €1.5m | €1.5m | ▼ 0.3% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Capital10 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Issued capital100 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €53,000 | €53,000 | €53,000 | €53,000 | €53,000 | = |
| Non-distributable reserves130/1 | €53,000 | €53,000 | €53,000 | €53,000 | €53,000 | = |
| Legal reserve130 | €53,000 | €53,000 | €53,000 | €53,000 | €53,000 | = |
| Profit (loss) carried forward14 | -€20,993 | -€138,456 | -€151,609 | -€148,898 | -€152,705 | ▼ 2.6% |
| Amounts payable17/49 | €253,121 | €570,775 | €488,324 | €448,684 | €339,764 | ▼ 24.3% |
| Amounts payable after more than one year17 | €181,876 | €466,411 | €385,849 | €304,150 | €233,400 | ▼ 23.3% |
| Financial debts170/4 | €181,876 | €466,411 | €385,849 | €304,150 | €233,400 | ▼ 23.3% |
| Amounts payable within one year42/48 | €71,186 | €104,364 | €102,475 | €144,534 | €106,364 | ▼ 26.4% |
| Current portion of amounts payable after more than one year42 | €48,500 | €79,465 | €80,562 | €81,698 | €70,751 | ▼ 13.4% |
| Trade debts44 | €16,364 | €18,399 | €21,253 | €10,590 | €12,490 | ▲ 17.9% |
| Suppliers440/4 | €16,364 | €18,399 | €21,253 | €10,590 | €12,490 | ▲ 17.9% |
| Taxes, remuneration and social security45 | €6,322 | €6,501 | €576 | €1,187 | - | - |
| Taxes450/3 | €12 | €1,260 | €576 | €1,187 | - | - |
| Remuneration and social security454/9 | €6,310 | €5,241 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | €84 | €51,058 | €23,124 | ▼ 54.7% |
| Accrued charges and deferred income492/3 | €60 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,270 | -€117,463 | -€13,153 | €2,712 | -€3,807 | ▼ 240% |
| + Depreciation and write-downs630 | €110,614 | €213,414 | €106,604 | €107,984 | €111,454 | ▲ 3.2% |
| Operating cash flow (approximation) | €91,345 | €95,951 | €93,451 | €110,695 | €107,647 | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | -€1.1m | €0 | -€106,810 | €0 | ▲ 100% |
| Change in cash | - | -€3,828 | €21,586 | -€29,153 | €15,127 | ▲ 152% |
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
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 24 days late
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €2,712
Net result €2,712 after 4 loss-making years.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€117,463
Net result drops to -€117,463, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity times 5current ratio 8.57
Current ratio from 1.64 to 8.57; short-term debt falls from €1.0m to €83,047.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €161,730 ▲218%
Operating result €228,453, net result €161,730, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Sint-Niklaas · 1 establishment unit since 2001
Ground area
2,181 m²
Building footprint
217 m²
Volume, LiDAR
1,642 m³
Parcel 46442C0722/00F002, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Houten Schoen 39, 9100 Sint-Niklaas
since 20012.131.687.440
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0722/00F002 | Flanders | 2,181 m² | 1 · 217 m² | 12.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- INDECO
- ELIXINE
Highest known parent: INDECO. The sources do not say who stands above it.
Owners 2
- INDECOparent99.84%
- Stéphanie DE COCKnatural personSourceown accounts 20220.16%
Holdings 0
The accounts to 31-12-2022 list no holdings, and no other source names one.
According to the 2022 annual accounts of ELIXINE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,820 companies in sector 47210 we hold annual accounts for 965. 279 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-09-2000
Fiscal year end31-12
Activities, NACEBEL 2025
47210Retail sale of fruit and vegetables
47221Retail sale of meat and meat products, excluding game and poultry
47241Retail sale of bread and pastry (bakery outlets)
47271Retail trade
56112Limited-service restaurants, excluding mobile food services
Contact
Website
www.masoeuretmoi-boutique.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472813830
Also
9925:BE0472813830
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.