ELKEM PROCESSING SERVICES
Dissolved and wound upFinancials · financial year 2025, full format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 20 filings
Turnover
€932,564▼ 32.9%
2024 · €1.4m
EBIT margin
-32.7%▼ 37.7pp
2024 · 5.0%
Net result
-€243,114
2024 · €108,391
Working capital
€3.2m▼ 4.4%
2024 · €3.4m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€932,564
▼ 32.9%
2025
20182025
Operating result
-€304,658
2025
20182025
Net result
-€243,114
2025
20182025
EBIT margin
-32.7%
▼ 37.7pp
2025
20182025
Equity
€3.6m
▼ 6.4%
2025
20182025
Total assets
€3.9m
▼ 4.4%
2025
20182025
Debt
€300,824
▲ 29.7%
2025
20182025
Working capital
€3.2m
▼ 4.4%
2025
20182025
Staff (FTE)
5.2
▼ 13.3%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€9.1m-€9.8m▲ 8.4%€8.1m▼ 18.2%€7.8m▼ 2.7%€9.5m▲ 21.8%€5.8m▼ 38.8%€1.4m▼ 76.2%€0.9m▼ 32.9%
Operating result€1.1m-€0.7m▼ 33.1%€0.2m▼ 71.1%€0.7m▲ 261%€1.4m▲ 86.0%€0.4m▼ 68.2%€0.07m▼ 84.0%-€0.3m
Net result€0.7m-€0.5m▼ 29.8%€0.08m▼ 83.5%€0.5m▲ 508%€0.9m▲ 96.5%€0.3m▼ 62.8%€0.1m▼ 68.2%-€0.2m
EBIT margin11.6%-7.2%▼ 4.5pp2.5%▼ 4.6pp9.4%▲ 6.9pp14.4%▲ 5.0pp7.5%▼ 6.9pp5.0%▼ 2.5pp-32.7%▼ 37.7pp
Equity€1.6m-€2.1m▲ 28.4%€2.1m▼ 1.4%€2.5m▲ 22.4%€3.4m▲ 36.2%€3.8m▲ 9.8%€3.9m▲ 2.7%€3.6m▼ 6.4%
Total assets€5.1m-€6.1m▲ 17.5%€4.9m▼ 19.1%€6.0m▲ 21.7%€5.8m▼ 2.2%€4.3m▼ 26.0%€4.1m▼ 4.8%€3.9m▼ 4.4%
Debt€3.4m-€4.0m▲ 15.9%€2.8m▼ 28.4%€3.4m▲ 21.1%€2.4m▼ 30.4%€0.5m▼ 77.4%€0.2m▼ 57.2%€0.3m▲ 29.7%
Working capital€1.5m-€1.6m▲ 4.5%€1.6m▼ 1.5%€2.1m▲ 30.2%€3.0m▲ 43.7%€3.3m▲ 10.5%€3.4m▲ 3.6%€3.2m▼ 4.4%
Staff (FTE)7.3-7.5▲ 2.7%6.2▼ 17.3%6▼ 3.2%5.8▼ 3.3%6.2▲ 6.9%6▼ 3.2%5.2▼ 13.3%
The operating result for 2025 is a loss of €304,658, after a profit of €69,721 in 2024. It is the lowest result since 2018.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€387,578 ▼ 20.5%
Current assets
€3.5m ▼ 2.2%
Equity and liabilities €3.9m
Equity
€3.6m ▼ 6.4%
Debt
€300,824 ▲ 29.7%
Debt's share of the balance-sheet total rises from 5.7% to 7.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€257,577▼
2024 · €140,166
Cash flow
-€196,033▼
2024 · €178,836
Current ratio
11.74▼
2024 · 15.57
Debt to equity
0.08▲
2024 · 0.06
ROE
-6.7%▼
2024 · 2.8%
ROA
-6.2%▼
2024 · 2.6%
Interest coverage
-180.76▼
2024 · 67.76
Debt ≤ 1 year
€300,824▲
2024 · €231,942
Income taxes
€86▼
2024 · €41,530
Customer credit
165 days▲
2024 · 164 days
Supplier credit
132 days▲
2024 · 53 days
Staff costs
€474,632▲
2024 · €372,613
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 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 6 | 6 | 6 | 1 |
| full-time | 6 | 6 | 6 | 6 | 1 |
| part-time | - | 0 | 0 | 0 | 0 |
| in full-time equivalents | 6 | 6 | 6 | 6 | 1 |
| Average over the year, in full-time equivalents | 6 | 5.8 | 6.2 | 6 | 5.2 |
| On a permanent contract | 6 | 6 | 6 | 6 | 1 |
| Joined | - | 1 | 2 | - | 0 |
| Left | - | 1 | 2 | - | 5 |
| Agency workers, average number | 0 | 0 | 0.1 | 0.1 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €0 | - | - | - | - |
| Mortgages, amount registered | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 |
| Carrying value of the mortgaged assets | €357,340 | €338,747 | €395,435 | €409,949 | €362,353 |
| Mandates to pledge the business | - | - | €1.2m | €1.2m | €1.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €19,819 | €75,560 | €94,331 | €56,083 | €5,480 |
| Intangible fixed assets | €9,950 | - | - | - | - |
| Depreciation and write-downs of the year | €49,229 | €63,299 | €67,387 | €70,445 | €47,081 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €20,750 | €22,000 | €23,990 | €24,517 | €25,185 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €7.9m | €9.5m | €5.8m | €1.4m | €0.9m | ▼ 32.4% |
| Turnover70 | €9.1m | €9.8m | €8.1m | €7.8m | €9.5m | €5.8m | €1.4m | €0.9m | ▼ 32.9% |
| Other operating income74 | - | - | - | €0.05m | €0.004m | €0.003m | €0.004m | €0.003m | ▼ 16.5% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €0.007m | - |
| Operating charges60/66A | - | - | - | €7.1m | €8.2m | €5.4m | €1.3m | €1.2m | ▼ 5.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €5.8m | €6.7m | €4.4m | €0.2m | €0.02m | ▼ 88.8% |
| Purchases600/8 | - | - | - | €7.0m | €7.5m | €0.6m | €0.04m | €0.02m | ▼ 36.6% |
| Change in stocks: decrease (increase)609 | - | - | - | -€1.2m | -€0.8m | €3.8m | €0.2m | €0 | ▼ 100% |
| Services and other goods61 | - | - | - | €0.9m | €1.0m | €0.6m | €0.6m | €0.5m | ▼ 13.7% |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.06m | €0.05m | €0.05m | €0.06m | €0.07m | €0.07m | €0.05m | ▼ 33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €0.002m | - |
| Other operating charges640/8 | - | - | - | €0.07m | €0.09m | €0.03m | €0.08m | €0.06m | ▼ 25.1% |
| Non-recurring operating charges66A | - | - | - | €0.005m | €0 | - | - | €0.1m | - |
| Operating profit (loss)9901 | €1.1m | €0.7m | €0.2m | €0.7m | €1.4m | €0.4m | €0.07m | -€0.3m | - |
| Financial income75/76B | - | - | - | €0.02m | €0.02m | €0.07m | €0.09m | €0.07m | ▼ 21.3% |
| Recurring financial income75 | €0.07m | €0.04m | €0.02m | €0.02m | €0.02m | €0.07m | €0.09m | €0.07m | ▼ 21.3% |
| Income from current assets751 | - | - | - | - | - | €0.05m | €0.08m | €0.06m | ▼ 23.1% |
| Other financial income752/9 | - | - | - | €0.02m | €0.02m | €0.02m | €0.006m | €0.006m | ▲ 4.0% |
| Financial charges65/66B | - | - | - | €0.1m | €0.1m | €0.06m | €0.005m | €0.005m | ▲ 9.4% |
| Recurring financial charges65 | €0.1m | €0.07m | €0.1m | €0.1m | €0.1m | €0.06m | €0.005m | €0.005m | ▲ 9.4% |
| Debt charges650 | €0.05m | €0.06m | €0.05m | €0.03m | €0.03m | €0.02m | €0.002m | €0.001m | ▼ 31.1% |
| Other financial charges652/9 | - | - | - | €0.09m | €0.1m | €0.04m | €0.003m | €0.004m | ▲ 39.6% |
| Profit (loss) for the period before taxes9903 | €1.0m | €0.7m | €0.1m | €0.6m | €1.2m | €0.5m | €0.1m | -€0.2m | - |
| Income taxes67/77 | €0.3m | €0.2m | €0.03m | €0.2m | €0.3m | €0.1m | €0.04m | €86 | ▼ 99.8% |
| Taxes670/3 | - | - | - | €0.2m | €0.3m | €0.1m | €0.04m | €86 | ▼ 99.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €22 | €0.003m | €0 | - | - |
| Profit (loss) for the period9904 | €0.7m | €0.5m | €0.08m | €0.5m | €0.9m | €0.3m | €0.1m | -€0.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.5m | €0.08m | €0.5m | €0.9m | €0.3m | €0.1m | -€0.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.1m | €6.1m | €4.9m | €6.0m | €5.8m | €4.3m | €4.1m | €3.9m | ▼ 4.4% |
| Formation expenses20 | €0 | €0 | €0 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 20.5% |
| Intangible fixed assets21 | €0.04m | €0.04m | €0.04m | €0.03m | €0.02m | €0.01m | €0.007m | €0.005m | ▼ 28.1% |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 20.3% |
| Land and buildings22 | - | - | - | €0.4m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 11.6% |
| Plant, machinery and equipment23 | - | - | - | €0.07m | €0.1m | €0.08m | €0.06m | €0.02m | ▼ 71.1% |
| Furniture and vehicles24 | - | - | - | €0.008m | €0.01m | €0.01m | €0.006m | €0.001m | ▼ 76.9% |
| Financial fixed assets28 | €152 | €152 | €152 | €152 | €152 | €152 | €152 | €152 | = |
| Other financial fixed assets284/8 | - | - | - | €152 | €152 | €152 | €152 | €152 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €152 | €152 | €152 | €152 | €152 | = |
| Current assets29/58 | €4.6m | €5.5m | €4.4m | €5.5m | €5.3m | €3.8m | €3.6m | €3.5m | ▼ 2.2% |
| Stocks and contracts in progress3 | €3.2m | €3.1m | €2.1m | €3.2m | €4.0m | €0.2m | €0 | €0 | - |
| Stocks30/36 | - | - | - | €3.2m | €4.0m | €0.2m | €0 | - | - |
| Goods purchased for resale34 | - | - | - | €3.2m | €4.0m | €0.2m | €0 | - | - |
| Amounts receivable within one year40/41 | €1.0m | €1.5m | €0.9m | €1.3m | €0.8m | €0.3m | €0.7m | €0.4m | ▼ 38.6% |
| Trade receivables40 | - | - | - | €1.3m | €0.8m | €0.3m | €0.6m | €0.4m | ▼ 32.2% |
| Other amounts receivable41 | - | - | - | €0.02m | €0 | €0.03m | €0.07m | €0.003m | ▼ 95.4% |
| Current investments50/53 | €186 | €186 | €186 | €186 | €185 | €185 | €185 | €0 | ▼ 100% |
| Other investments51/53 | - | - | - | €186 | €185 | €185 | €185 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.5m | €0.9m | €1.5m | €0.8m | €0.5m | €3.3m | €2.9m | €3.1m | ▲ 5.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.03m | €0.03m | €0.006m | €0.03m | ▲ 347% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.1m | €6.1m | €4.9m | €6.0m | €5.8m | €4.3m | €4.1m | €3.9m | ▼ 4.4% |
| Equity10/15 | €1.6m | €2.1m | €2.1m | €2.5m | €3.4m | €3.8m | €3.9m | €3.6m | ▼ 6.4% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €1.4m | €1.9m | €1.9m | €2.3m | €3.3m | €3.6m | €3.7m | €3.5m | ▼ 6.6% |
| Investment grants15 | - | - | - | €0.07m | €0.07m | €0.06m | €0.06m | €0.05m | ▼ 8.9% |
| Provisions and deferred taxes16 | €0.1m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €3.4m | €4.0m | €2.8m | €3.4m | €2.4m | €0.5m | €0.2m | €0.3m | ▲ 29.7% |
| Amounts payable after more than one year17 | €0.3m | €0.03m | €0 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €3.1m | €3.9m | €2.8m | €3.4m | €2.4m | €0.5m | €0.2m | €0.3m | ▲ 29.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | - | - | - | - | - |
| Financial debts43 | - | - | - | €2.1m | €1.3m | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €2.1m | €1.3m | €0 | - | - | - |
| Trade debts44 | €0.6m | €0.6m | €0.5m | €1.1m | €0.6m | €0.3m | €0.1m | €0.2m | ▲ 65.0% |
| Suppliers440/4 | - | - | - | €1.1m | €0.6m | €0.3m | €0.1m | €0.2m | ▲ 65.0% |
| Advances received on contracts in progress46 | - | - | - | €0 | €0.07m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.4m | €0.2m | €0.1m | €0.1m | ▼ 5.5% |
| Taxes450/3 | - | - | - | €0.2m | €0.4m | €0.2m | €0.07m | €0.05m | ▼ 31.3% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.03m | €0.04m | €0.05m | €0.06m | ▲ 33.6% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | €0.002m | €60 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.7m | €0.5m | €0.08m | €0.5m | €0.9m | €0.3m | €0.1m | -€0.2m | - |
| + Depreciation and write-downs630 | €0.08m | €0.06m | €0.05m | €0.05m | €0.06m | €0.07m | €0.07m | €0.05m | ▼ 33.2% |
| Operating cash flow (approximation) | €0.7m | €0.5m | €0.1m | €0.5m | €1.0m | €0.4m | €0.2m | -€0.2m | - |
| Investment in fixed assets (approximation) | - | -€0.07m | -€0.02m | -€0.03m | -€0.08m | -€0.09m | -€0.06m | €0.05m | - |
| Change in cash | - | €0.5m | €0.5m | -€0.6m | -€0.3m | €2.7m | -€0.4m | €0.2m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-07-2026 | 2026-00277115 | |
| 31-12-2024 | full format | 04-08-2025 | 2025-00354962 | |
| 31-12-2023 | full format | 23-07-2024 | 2024-00272502 | |
| 31-12-2022 | full format | 22-06-2023 | 2023-00146347 | |
| 31-12-2021 | full format | 13-07-2022 | 2022-20183549 | |
| 31-12-2020 | full format | 08-07-2021 | 2021-33700486 | |
| 31-12-2019 | full format | 28-08-2020 | 2020-48600526 | |
| 31-12-2018 | full format | 10-07-2019 | 2019-31300445 | |
| 31-12-2017 | full format | 23-07-2018 | 2018-36700191 | |
| 31-12-2016 | full format | 06-07-2017 | 2017-28300315 |