Elkapi · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Elkapi is 0.4% (very low). The 2025 annual accounts show equity of €108k and a net result of €46k. Equity is growing by ~63.9% per year across the filed fiscal years. Its solvency ranks better than 46% of 4760 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 26-01-2026, 5 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	26-01-2026	5 d early	2026-00013786
30-06-2024	31-01-2025	13-01-2025	18 d early	2025-00004639
30-06-2023	31-01-2024	22-12-2023	40 d early	2024-00541201

Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.4% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Young company +Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (micro schema)

EBIT marginNot published (micro schema)

Net result€46k+34.7%

Working capital€161k+19.6%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 26-01-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~63.9%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 70, Head offices & management consulting · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	50.2%	55.4%	better than 46% of 4760 sector peers
Net result	€46k	€38k	better than 56% of 4760 sector peers
Equity	€108k	€64k	better than 65% of 4761 sector peers
Gross operating margin	€61k	€61k	better than 50% of 4753 sector peers
Total assets	€214k	€146k	better than 65% of 4761 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P46

Improving position over 2023-2025 · n=4760-12491

Net result P56

Improving position over 2023-2025 · n=4760-12493

Equity P65

Improving position over 2023-2025 · n=4761-12499

Gross operating margin P50

Improving position over 2023-2025 · n=4753-12478

Describes the position versus peers, not a forecast.

EBITDA

€61k

+25.8% 23-25

Net profit

€46k

+34.7% 23-25

Cash flow

€46k

+34.2% 23-25

Total assets

€214k

+17.3% 23-25

Equity

€108k

+73.4% 23-25

Working capital

€161k

+19.6% 23-25

Income taxes

€12k

+21.4% 23-25

Debt

€107k

-11.6% 23-25

Show 9 other metrics

Debt ≤ 1y

€43k

+15.0% 23-25

Debt > 1y

€61k

-26.2% 23-25

Current ratio

4.76

+3.2% 23-25

Quick ratio

4.76

+3.2% 23-25

Solvency

50.2%

+47.8% 23-25

Debt / equity

0.99

-49.0% 23-25

ROE

42.3%

-22.3% 23-25

ROA

21.3%

+14.9% 23-25

Interest coverage

12.80

+53.0% 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€61k
Net profit	€46k
Cash flow	€46k
Staff costs	-
Income taxes	€12k
Dividends	-
Total assets	€214k
Equity	€108k
Debt	€107k
of which ≤ 1y	€43k
of which > 1y	€61k
Working capital	€161k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	4.76
Quick ratio	4.76
Working capital ratio	75.3%
Solvency	50.2%
Debt / equity	0.99
Long-term debt ratio	0.57
Interest coverage	12.80
Gross margin	-
Net margin	-
ROA	21.3%
ROE	42.3%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €10k · 4.6% Current assets €204k · 95.4%

Equity & liabilities

Equity €108k · 50.2% Debt €107k · 49.8%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€214k
Fixed assets	21/28	€10k
Tangible fixed assets	22/27	€867
Financial fixed assets	28	€9k
Current assets	29/58	€204k
Amounts receivable within one year	40/41	€22k
Cash & bank	54/58	€51k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€214k
Equity	10/15	€108k
Contributions / capital	10/11	€14k
Reserves	13	€94k
Accumulated profits (losses)	14	€0
Amounts payable	17/49	€107k
Amounts payable after one year	17	€61k
Amounts payable within one year	42/48	€43k
Trade debts payable within one year	44	€1,000
Income statement
Gross operating margin	9900	€61k
Operating result	9901	€60k
Financial income	75	€2k
Financial charges	65	€5k
Result before taxes	9903	€57k
Income taxes	67/77	€12k
Net result for the period	9904	€46k
Result to be appropriated	9905	€46k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

ELKAPI

Baaistraat(Kor) 31, 8500 KortrijkHoldings

since 20222.339.603.277

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area228 m²

Buildings1

Building footprint145 m²

Volume (LiDAR)427 m³

Tallest building3.9 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)