ELKA
ActiveSummary
ELKA has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €262,744. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 73% of 4209 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+7
Solvency84▲+8
Growth69▲+16
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 2.35 against 1.93 in 2024; short-term debt: 39.5% and cash: 34.7% of total assets), and 40.5% 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
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
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 · 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
59.5%
Return on assets
11.7%
Age of the figures
20 mo
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 30-09-2025, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2026
not confirmed
2025
30 d late
2024
33 d late
2023
29 d late
2022
30 d late
2021
30 d late
2020
73 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 38 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
In the rankings
#1 fastest grower in Malmedy#6 employer in Malmedy, Wholesale and retail trade sector
Turnover
€8.5m▲ 9.3%
2020 · €7.8m
EBIT margin
2.0%▼ 1.2pp
2020 · 3.2%
Net result
€262,744▲ 109%
2024 · €125,837
Working capital
€1.2m▲ 29.7%
2024 · €925,568
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€8.5m▲ 9.3%
Operating result€171,435▼ 31.0%€261,888▲ 52.8%€132,748▼ 49.3%€194,549▲ 46.6%€348,163▲ 79.0%
Net result€125,924above the sector's middle half▼ 38.2%€185,268above the sector's middle half▲ 47.1%€91,381within the sector's middle half▼ 50.7%€125,837above the sector's middle half▲ 37.7%€262,744above the sector's middle half▲ 109%
EBIT margin2.0%▼ 1.2pp
Equity€1.0mabove the sector's middle half▲ 14.1%€1.1mabove the sector's middle half▲ 3.5%€1.0mabove the sector's middle half▼ 0.8%€1.1mabove the sector's middle half▲ 2.5%€1.3mwithin the sector's middle half▲ 24.5%
Total assets€2.2mabove the sector's middle half▲ 2.2%€2.1mwithin the sector's middle half▼ 5.2%€2.0mwithin the sector's middle half▼ 1.0%€2.1mwithin the sector's middle half▲ 3.2%€2.2mwithin the sector's middle half▲ 6.6%
Debt€1.2m▼ 6.4%€1.0m▼ 12.8%€993,943▼ 1.2%€1.0m▲ 4.0%€910,247▼ 12.0%
Working capital€821,160▲ 20.8%€869,258▲ 5.9%€843,370▼ 3.0%€925,568▲ 9.7%€1.2m▲ 29.7%
Solvency46.9%within the sector's middle half▲ 4.9pp51.2%within the sector's middle half▲ 4.3pp51.3%within the sector's middle half▲ 0.1pp50.9%within the sector's middle half▼ 0.4pp59.5%within the sector's middle half▲ 8.5pp
Staff (FTE)10.5within the sector's middle half▲ 7.1%10.9within the sector's middle half▲ 3.8%10.4within the sector's middle half▼ 4.6%15.7above the sector's middle half▲ 51.0%22.5above the sector's middle half▲ 43.3%
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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 79% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€158,817 ▼ 14.9%
Current assets
€2.1m ▲ 8.7%
Equity and liabilities €2.2m
Equity
€1.3m ▲ 24.5%
Debt
€910,247 ▼ 12.0%
Debt's share of the balance-sheet total falls from 49.1% to 40.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€396,058▲
2024 · €255,360
Cash flow
€310,640▲
2024 · €186,648
Current ratio
2.35▲
2024 · 1.93
Quick ratio
1.72▲
2024 · 1.34
Debt to equity
0.68▼
2024 · 0.96
ROE
19.7%▲
2024 · 11.7%
ROA
11.7%▲
2024 · 6.0%
Interest coverage
113.48▲
2024 · 10.64
Debt ≤ 1 year
€886,636▼
2024 · €995,134
Income taxes
€93,720▲
2024 · €53,591
Staff costs
€456,497▲
2024 · €383,221
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 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% | 1.6% |
| 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 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 20,082 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €8.5m | - | - | - | - | - |
| Non-recurring operating income76A | - | €1,110 | €1,979 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €311,345 | €350,287 | €383,221 | €456,497 | ▲ 19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,349 | €52,830 | €52,229 | €60,811 | €47,896 | ▼ 21.2% |
| Other operating charges640/8 | - | €18,656 | €20,745 | €27,030 | €21,067 | ▼ 22.1% |
| Non-recurring operating charges66A | - | €9,165 | €0 | - | €235 | - |
| Gross operating margin9900 | €557,958 | €653,884 | €556,009 | €665,611 | €873,857 | ▲ 31.3% |
| Operating profit (loss)9901 | €171,435 | €261,888 | €132,748 | €194,549 | €348,163 | ▲ 79.0% |
| Financial income75/76B | - | €2,152 | €4,179 | €8,882 | €11,792 | ▲ 32.8% |
| Recurring financial income75 | €1,847 | €2,152 | €4,179 | €8,882 | €11,792 | ▲ 32.8% |
| Financial charges65/66B | - | €10,327 | €9,208 | €24,002 | €3,490 | ▼ 85.5% |
| Recurring financial charges65 | €5,974 | €10,327 | €9,208 | €24,002 | €3,490 | ▼ 85.5% |
| Profit (loss) for the period before taxes9903 | €167,307 | €253,713 | €127,719 | €179,428 | €356,464 | ▲ 98.7% |
| Income taxes67/77 | €41,383 | €68,445 | €36,338 | €53,591 | €93,720 | ▲ 74.9% |
| Profit (loss) for the period9904 | €125,924 | €185,268 | €91,381 | €125,837 | €262,744 | ▲ 109% |
| Transfer from tax-exempt reserves789 | - | - | €138,840 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €125,924 | €185,268 | €230,221 | €125,837 | €262,744 | ▲ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.1m | €2.0m | €2.1m | €2.2m | ▲ 6.6% |
| Fixed assets21/28 | €279,644 | €226,814 | €205,706 | €186,645 | €158,817 | ▼ 14.9% |
| Tangible fixed assets22/27 | €279,483 | €226,653 | €205,545 | €186,484 | €158,656 | ▼ 14.9% |
| Land and buildings22 | - | €134,398 | €99,270 | €66,199 | €48,890 | ▼ 26.1% |
| Plant, machinery and equipment23 | - | €92,255 | €105,627 | €108,657 | €103,822 | ▼ 4.4% |
| Furniture and vehicles24 | - | - | €648 | €11,629 | €5,943 | ▼ 48.9% |
| Financial fixed assets28 | €161 | €161 | €161 | €161 | €161 | = |
| Current assets29/58 | €1.9m | €1.8m | €1.8m | €1.9m | €2.1m | ▲ 8.7% |
| Stocks and contracts in progress3 | €460,914 | €467,711 | €498,156 | €582,247 | €565,406 | ▼ 2.9% |
| Stocks30/36 | - | €467,711 | €498,156 | €582,247 | €565,406 | ▼ 2.9% |
| Amounts receivable within one year40/41 | €244,600 | €155,593 | €317,439 | €308,376 | €374,807 | ▲ 21.5% |
| Trade receivables40 | - | €155,397 | €280,047 | €278,049 | €343,136 | ▲ 23.4% |
| Other amounts receivable41 | - | €196 | €37,392 | €30,328 | €31,672 | ▲ 4.4% |
| Current investments50/53 | €61,326 | €61,326 | €61,326 | €45,987 | €302,432 | ▲ 558% |
| Cash at bank and in hand54/58 | €1.1m | €1.1m | €907,412 | €927,379 | €778,397 | ▼ 16.1% |
| Deferred charges and accrued income490/1 | - | €46,512 | €51,357 | €56,714 | €66,422 | ▲ 17.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.1m | €2.0m | €2.1m | €2.2m | ▲ 6.6% |
| Equity10/15 | €1.0m | €1.1m | €1.0m | €1.1m | €1.3m | ▲ 24.5% |
| Contributions10/11 | - | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Reserves13 | €613,840 | €656,072 | €647,453 | €673,290 | €936,035 | ▲ 39.0% |
| Non-distributable reserves130/1 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Reserves not available under the articles1311 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Tax-exempt reserves132 | - | €138,840 | €0 | - | - | - |
| Distributable reserves133 | - | €477,232 | €607,453 | €633,290 | €896,035 | ▲ 41.5% |
| Profit (loss) carried forward14 | €6,964 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.2m | €1.0m | €993,943 | €1.0m | €910,247 | ▼ 12.0% |
| Amounts payable within one year42/48 | €1.1m | €965,554 | €992,320 | €995,134 | €886,636 | ▼ 10.9% |
| Trade debts44 | €614,671 | €459,836 | €564,392 | €578,121 | €481,385 | ▼ 16.7% |
| Suppliers440/4 | - | €459,836 | €564,392 | €578,121 | €481,385 | ▼ 16.7% |
| Taxes, remuneration and social security45 | - | €106,467 | €150,622 | €74,193 | €105,052 | ▲ 41.6% |
| Taxes450/3 | - | €67,716 | €102,916 | €27,457 | €53,679 | ▲ 95.5% |
| Remuneration and social security454/9 | - | €38,750 | €47,705 | €46,736 | €51,373 | ▲ 9.9% |
| Other amounts payable47/48 | - | €399,251 | €277,306 | €342,820 | €300,199 | ▼ 12.4% |
| Accrued charges and deferred income492/3 | - | €40,000 | €1,623 | €38,923 | €23,611 | ▼ 39.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,924 | €185,268 | €91,381 | €125,837 | €262,744 | ▲ 109% |
| + Depreciation and write-downs630 | €55,349 | €52,830 | €52,229 | €60,811 | €47,896 | ▼ 21.2% |
| Operating cash flow (approximation) | €181,273 | €238,098 | €143,610 | €186,648 | €310,640 | ▲ 66.4% |
| Investment in fixed assets (approximation) | - | €0 | -€31,121 | -€41,750 | -€20,067 | ▲ 51.9% |
| Change in cash | - | €30,943 | -€196,258 | €19,967 | -€148,982 | ▼ 846% |
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
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 30 days late
31-01
Financial
Highest result since 2019net €262,744 ▲109%
Operating result €348,163, net result €262,744, both a record.
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 33 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
31-01
Financial
Weakest financial yearnet €91,381 ▼50.7%
Net result drops to €91,381, the lowest in the series; recovery starts the following year.
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
31-01
Financial
Equity above €1mEq €1.0m ▲14.1%
3 profitable years in a row build equity to €1.0m.
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 73 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 30 days late
2018
14-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 14 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 27 days late
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, Malmedy · 1 establishment unit since 1992
Ground area
3,071 m²
Building footprint
1,697 m²
Volume, LiDAR
8,336 m³
Parcel 63049F0358/00Y008, Wallonia · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Avenue des Alliés 98, 4960 Malmedy
since 19922.040.121.816
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63049F0358/00Y008 | Wallonia | 3,071 m² | 1 · 1,697 m² | 6.2 m · 2 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
1 ownerChain of control
- G.S.B.M.
- ELKA
Highest known parent: G.S.B.M.. The sources do not say who stands above it.
Owners 1
- G.S.B.M.parent63%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Recognitions · licences · registrations
Food safety, FASFC
1 site · 1 with a smileyMalmedy2.040.121.816
Legal Entity Identifier
984500750442D07CAB09
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 1,926 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded19-03-1988
Fiscal year end31-01
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433739854
Registered
30-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.