ELKO-TECH
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 23-10-2026 at the NBB all 19 filings
Turnover
≈ €170,000
Estimated: probably between €130,000 and €240,000
Total assets
€618,729▼ 11.7%
2025 · €700,825
Net result
€12,906▼ 75.5%
2025 · €52,644
Working capital
€80,207▼ 40.2%
2025 · €134,190
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€28,425
▼ 66.3%
2026
20192026
Net result
€12,906
▼ 75.5%
2026
20192026
Equity
€325,752
▼ 12.9%
2026
20192026
Total assets
€618,729
▼ 11.7%
2026
20192026
Debt
€292,977
▼ 10.3%
2026
20192026
Working capital
€80,207
▼ 40.2%
2026
20192026
Solvency
52.6%
▼ 0.7pp
2026
20192026
Current ratio
1.69
▼ 0.60
2026
20192026
Return on assets (ROA)
2.1%
▼ 5.4pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€77,554-€52,554▼ 32.2%€46,306▼ 11.9%€59,414▲ 28.3%€60,564▲ 1.9%€36,845▼ 39.2%€84,448▲ 129%€28,425▼ 66.3%
Net result€45,441-€27,313▼ 39.9%€24,772within the sector's middle half▼ 9.3%€32,758within the sector's middle half▲ 32.2%€35,704within the sector's middle half▲ 9.0%€19,749within the sector's middle half▼ 44.7%€52,644above the sector's middle half▲ 167%€12,906▼ 75.5%
Equity€207,978-€235,291▲ 13.1%€260,063above the sector's middle half▲ 10.5%€292,821above the sector's middle half▲ 12.6%€301,726above the sector's middle half▲ 3.0%€321,475above the sector's middle half▲ 6.5%€374,119above the sector's middle half▲ 16.4%€325,752▼ 12.9%
Total assets€652,886-€637,479▼ 2.4%€630,165above the sector's middle half▼ 1.1%€671,083above the sector's middle half▲ 6.5%€653,607above the sector's middle half▼ 2.6%€705,915above the sector's middle half▲ 8.0%€700,825above the sector's middle half▼ 0.7%€618,729▼ 11.7%
Debt€444,908-€402,188▼ 9.6%€370,102▼ 8.0%€378,262▲ 2.2%€351,881▼ 7.0%€384,440▲ 9.3%€326,707▼ 15.0%€292,977▼ 10.3%
Working capital€76,806-€102,487▲ 33.4%€114,340above the sector's middle half▲ 11.6%€119,654above the sector's middle half▲ 4.6%€109,753within the sector's middle half▼ 8.3%€99,675within the sector's middle half▼ 9.2%€134,190above the sector's middle half▲ 34.6%€80,207▼ 40.2%
Solvency31.9%-36.9%▲ 5.1pp41.3%within the sector's middle half▲ 4.4pp43.6%within the sector's middle half▲ 2.4pp46.2%within the sector's middle half▲ 2.5pp45.5%within the sector's middle half▼ 0.6pp53.4%within the sector's middle half▲ 7.8pp52.6%▼ 0.7pp
Current ratio1.79-2.27▲ 0.482.54within the sector's middle half▲ 0.282.69within the sector's middle half▲ 0.142.38within the sector's middle half▼ 0.311.89within the sector's middle half▼ 0.492.29within the sector's middle half▲ 0.411.69▼ 0.60
Return on assets (ROA)7.0%-4.3%▼ 2.7pp3.9%within the sector's middle half▼ 0.4pp4.9%within the sector's middle half▲ 1.0pp5.5%within the sector's middle half▲ 0.6pp2.8%within the sector's middle half▼ 2.7pp7.5%within the sector's middle half▲ 4.7pp2.1%▼ 5.4pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 66% lower than in 2025 and the lowest since 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €618,729
Fixed assets
€421,984 ▼ 8.8%
Current assets
€196,745 ▼ 17.4%
Equity and liabilities €618,729
Equity
€325,752 ▼ 12.9%
Debt
€292,977 ▼ 10.3%
Debt's share of the balance-sheet total rises from 46.6% to 47.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€75,463▼
2025 · €131,406
Cash flow
€59,945▼
2025 · €99,602
Quick ratio
1.00▼
2025 · 1.53
Debt to equity
0.90▲
2025 · 0.87
ROE
4.0%▼
2025 · 14.1%
Interest coverage
7.90▼
2025 · 11.84
Debt ≤ 1 year
€116,538▲
2025 · €103,909
Debt > 1 year
€175,137▼
2025 · €221,576
Income taxes
€6,370▼
2025 · €20,935
Staff costs
€0▼
2025 · €338
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €68,701 | €19,418 | €67,983 | €15,932 | €6,297 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €29,937 | €35,604 | €38,613 | €46,958 | €47,039 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €59 awarded · €59 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €300 | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €338 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,916 | €29,574 | €24,257 | €29,937 | €35,604 | €38,613 | €46,958 | €47,039 | ▲ 0.2% |
| Other operating charges640/8 | - | €5,153 | - | €4,773 | €4,444 | €4,866 | €5,176 | €5,543 | ▲ 7.1% |
| Gross operating margin9900 | €110,471 | €87,281 | €75,346 | €94,124 | €100,612 | €80,324 | €136,920 | €81,006 | ▼ 40.8% |
| Operating profit (loss)9901 | €77,554 | €52,554 | €46,306 | €59,414 | €60,564 | €36,845 | €84,448 | €28,425 | ▼ 66.3% |
| Financial income75/76B | - | - | - | €70 | €2 | €435 | €233 | €400 | ▲ 71.6% |
| Recurring financial income75 | €44 | - | - | €70 | €2 | €435 | €233 | €400 | ▲ 71.6% |
| Financial charges65/66B | - | €13,852 | - | €13,502 | €11,045 | €10,761 | €11,103 | €9,549 | ▼ 14.0% |
| Recurring financial charges65 | €14,448 | €13,852 | €12,585 | €13,502 | €11,045 | €10,761 | €11,103 | €9,549 | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | €63,150 | €38,702 | €33,721 | €45,983 | €49,521 | €26,518 | €73,579 | €19,276 | ▼ 73.8% |
| Income taxes67/77 | €17,709 | €11,389 | €8,948 | €13,225 | €13,817 | €6,769 | €20,935 | €6,370 | ▼ 69.6% |
| Profit (loss) for the period9904 | €45,441 | €27,313 | €24,772 | €32,758 | €35,704 | €19,749 | €52,644 | €12,906 | ▼ 75.5% |
| Transfer to tax-exempt reserves689 | - | €55 | - | - | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €45,409 | €27,258 | €24,772 | €32,758 | €35,704 | €19,749 | €52,644 | €12,906 | ▼ 75.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €652,886 | €637,479 | €630,165 | €671,083 | €653,607 | €705,915 | €700,825 | €618,729 | ▼ 11.7% |
| Fixed assets21/28 | €478,912 | €454,141 | €441,804 | €480,568 | €464,382 | €493,752 | €462,726 | €421,984 | ▼ 8.8% |
| Tangible fixed assets22/27 | €478,912 | €454,141 | €441,804 | €480,568 | €464,382 | €493,752 | €462,726 | €421,984 | ▼ 8.8% |
| Land and buildings22 | - | €438,327 | - | €407,331 | €394,857 | €377,942 | €372,371 | €355,098 | ▼ 4.6% |
| Plant, machinery and equipment23 | - | €15,814 | - | €20,823 | €23,936 | €19,091 | €16,221 | €20,334 | ▲ 25.4% |
| Furniture and vehicles24 | - | - | - | €52,414 | €45,589 | €96,719 | €74,134 | €46,552 | ▼ 37.2% |
| Current assets29/58 | €173,974 | €183,338 | €188,360 | €190,515 | €189,225 | €212,162 | €238,099 | €196,745 | ▼ 17.4% |
| Stocks and contracts in progress3 | €52,275 | €61,996 | €76,826 | €78,067 | €82,615 | €89,003 | €78,895 | €80,034 | ▲ 1.4% |
| Stocks30/36 | - | €61,996 | - | €78,067 | €82,615 | €89,003 | €78,895 | €80,034 | ▲ 1.4% |
| Amounts receivable within one year40/41 | €88,129 | €69,648 | €63,382 | €47,277 | €25,741 | €61,085 | €43,631 | €54,170 | ▲ 24.2% |
| Trade receivables40 | - | €68,048 | - | €44,619 | €24,665 | €39,348 | €42,608 | €51,422 | ▲ 20.7% |
| Other amounts receivable41 | - | €1,600 | - | €2,658 | €1,076 | €21,737 | €1,023 | €2,748 | ▲ 169% |
| Cash at bank and in hand54/58 | €29,772 | €45,762 | €43,551 | €59,927 | €74,977 | €56,446 | €110,173 | €56,856 | ▼ 48.4% |
| Deferred charges and accrued income490/1 | - | €5,932 | - | €5,245 | €5,891 | €5,628 | €5,401 | €5,685 | ▲ 5.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €652,886 | €637,479 | €630,165 | €671,083 | €653,607 | €705,915 | €700,825 | €618,729 | ▼ 11.7% |
| Equity10/15 | €207,978 | €235,291 | €260,063 | €292,821 | €301,726 | €321,475 | €374,119 | €325,752 | ▼ 12.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €189,378 | €216,691 | €241,463 | €274,221 | €283,126 | €302,875 | €355,519 | €307,152 | ▼ 13.6% |
| Non-distributable reserves130/1 | - | €1,860 | - | €1,860 | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €1,860 | - | €1,860 | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | €87 | - | €87 | €87 | €87 | €87 | €87 | = |
| Distributable reserves133 | - | €214,744 | - | €272,274 | €281,179 | €300,928 | €353,572 | €307,065 | ▼ 13.2% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | - | €0 | - |
| Amounts payable17/49 | €444,908 | €402,188 | €370,102 | €378,262 | €351,881 | €384,440 | €326,707 | €292,977 | ▼ 10.3% |
| Amounts payable after more than one year17 | €347,740 | €321,337 | €296,081 | €307,401 | €270,184 | €270,883 | €221,576 | €175,137 | ▼ 21.0% |
| Financial debts170/4 | - | €321,337 | - | €307,401 | €270,184 | €270,883 | €221,576 | €175,137 | ▼ 21.0% |
| Amounts payable within one year42/48 | €97,168 | €80,851 | €74,020 | €70,861 | €79,472 | €112,488 | €103,909 | €116,538 | ▲ 12.2% |
| Current portion of amounts payable after more than one year42 | - | €26,403 | - | €36,333 | €37,229 | €47,769 | €49,308 | €46,438 | ▼ 5.8% |
| Trade debts44 | €49,830 | €38,261 | €40,462 | €28,581 | €12,581 | €61,870 | €33,528 | €21,498 | ▼ 35.9% |
| Suppliers440/4 | - | €38,261 | - | €28,581 | €12,581 | €61,870 | €33,528 | €21,498 | ▼ 35.9% |
| Taxes, remuneration and social security45 | - | €13,150 | - | €2,870 | €17,135 | €264 | €19,606 | €8,257 | ▼ 57.9% |
| Taxes450/3 | - | €13,150 | - | €2,870 | €17,135 | €264 | €19,606 | €8,257 | ▼ 57.9% |
| Other amounts payable47/48 | - | €3,037 | - | €3,077 | €12,528 | €2,584 | €1,468 | €40,344 | ▲ 27× |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,225 | €1,069 | €1,222 | €1,302 | ▲ 6.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,441 | €27,313 | €24,772 | €32,758 | €35,704 | €19,749 | €52,644 | €12,906 | ▼ 75.5% |
| + Depreciation and write-downs630 | €28,916 | €29,574 | €24,257 | €29,937 | €35,604 | €38,613 | €46,958 | €47,039 | ▲ 0.2% |
| Operating cash flow (approximation) | €74,357 | €56,887 | €49,029 | €62,695 | €71,308 | €58,363 | €99,602 | €59,945 | ▼ 39.8% |
| Investment in fixed assets (approximation) | - | -€4,803 | -€11,920 | -€68,701 | -€19,418 | -€67,983 | -€15,932 | -€6,297 | ▲ 60.5% |
| Change in cash | - | €15,990 | -€2,212 | €16,376 | €15,051 | -€18,531 | €53,727 | -€53,317 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as ELKO-TECH has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ELKO-TECH itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for ELKO-TECH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 23-10-2026 | 2026-00566668 | |
| 31-03-2025 | micro format | 23-10-2025 | 2025-00548006 | |
| 31-03-2024 | micro format | 25-10-2024 | 2024-00513995 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00496935 | |
| 31-03-2022 | micro format | 28-10-2022 | 2022-20475120 | |
| 31-03-2021 | micro format | 28-10-2021 | 2021-73600329 | |
| 31-03-2020 | micro format | 28-10-2020 | 2020-63600590 | |
| 31-03-2019 | micro format | 28-10-2019 | 2019-71400362 | |
| 31-03-2018 | micro format | 30-10-2018 | 2018-70500475 | |
| 31-03-2017 | micro format | 25-09-2017 | 2017-62900232 |