ELLIPTIC
ActiveSummary
ELLIPTIC has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60,768 and a net result of -€12,448. Equity is growing by about 25% per year across the filed financial years. Its solvency ranks better than 92% of 8,566 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €60,768
- Loss
- -€12,448
Why 94raises riskLoss of €12,448 (financial year 2025)lowers riskLiquidity: current ratio 13.53, cash €57,269Equity €60,768 (93.2% of total assets)Size: total assets €65,232Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro): better than 87% on solvency, 97% on liquidity, 6% on profitability and 26% on growth.
The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 10 days before the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet -€12,448
- Liquidity more than quadruplescurrent ratio 13.53
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €11,548 after €3,995 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 5,831 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84.6% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 5,831 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,060 | €1,060 | €1,060 | €1,310 | €595 | €2,033 | €2,895 | €2,895 | = |
| Other operating charges640/8 | - | - | - | €476 | €453 | €278 | €238 | €514 | ▲ 116% |
| Gross operating margin9900 | €10,491 | €34 | €4,079 | €3,659 | €37,740 | €54,449 | €7,128 | -€8,139 | - |
| Operating profit (loss)9901 | €8,542 | -€1,683 | €2,576 | €1,873 | €36,692 | €52,138 | €3,995 | -€11,548 | - |
| Financial income75/76B | - | - | - | €5 | - | €3 | €262 | €917 | ▲ 250% |
| Recurring financial income75 | €7 | €3 | - | €5 | - | €3 | €262 | €917 | ▲ 250% |
| Financial charges65/66B | - | - | - | €429 | €976 | €919 | €1,937 | €1,861 | ▼ 3.9% |
| Recurring financial charges65 | €455 | €501 | €675 | €429 | €976 | €919 | €1,937 | €1,861 | ▼ 3.9% |
| Profit (loss) for the period before taxes9903 | €8,094 | -€2,181 | €1,901 | €1,449 | €35,716 | €51,222 | €2,320 | -€12,491 | - |
| Income taxes67/77 | €4,340 | €192 | €1,000 | €1,241 | €15,084 | €18,132 | €1,910 | -€43 | - |
| Profit (loss) for the period9904 | €3,754 | -€2,373 | €901 | €207 | €20,632 | €33,090 | €410 | -€12,448 | - |
| Profit (loss) for the period to be appropriated9905 | €3,754 | -€2,373 | €901 | €207 | €20,632 | €33,090 | €410 | -€12,448 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €29,206 | €22,918 | €28,910 | €26,703 | €60,244 | €118,865 | €99,586 | €65,232 | ▼ 34.5% |
| Fixed assets21/28 | €3,181 | €2,121 | €1,060 | €5,701 | €12,666 | €18,184 | €15,289 | €4,834 | ▼ 68.4% |
| Tangible fixed assets22/27 | €3,181 | €2,121 | €1,060 | €5,701 | €5,106 | €10,624 | €7,729 | €4,834 | ▼ 37.5% |
| Plant, machinery and equipment23 | - | - | - | - | - | €2,548 | €1,897 | €1,246 | ▼ 34.3% |
| Furniture and vehicles24 | - | - | - | - | - | €3,566 | €1,916 | €267 | ▼ 86.1% |
| Other tangible fixed assets26 | - | - | - | €5,701 | €5,106 | €4,511 | €3,916 | €3,321 | ▼ 15.2% |
| Financial fixed assets28 | - | - | - | - | €7,560 | €7,560 | €7,560 | - | - |
| Current assets29/58 | €26,025 | €20,798 | €27,850 | €21,003 | €47,579 | €100,681 | €84,297 | €60,398 | ▼ 28.4% |
| Amounts receivable within one year40/41 | €1,602 | €6,771 | €16,638 | €8,588 | €13,139 | €850 | €1,251 | €3,129 | ▲ 150% |
| Trade receivables40 | - | - | - | €7,642 | €12,668 | €850 | €1,251 | €2,415 | ▲ 93.1% |
| Other amounts receivable41 | - | - | - | €945 | €471 | - | - | €714 | - |
| Cash at bank and in hand54/58 | €24,423 | €14,027 | €11,212 | €10,820 | €32,659 | €98,269 | €81,455 | €57,269 | ▼ 29.7% |
| Deferred charges and accrued income490/1 | - | - | - | €1,595 | €1,781 | €1,561 | €1,592 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €29,206 | €22,918 | €28,910 | €26,703 | €60,244 | €118,865 | €99,586 | €65,232 | ▼ 34.5% |
| Equity10/15 | €20,349 | €17,976 | €18,877 | €19,084 | €39,716 | €72,806 | €73,216 | €60,768 | ▼ 17.0% |
| Contributions10/11 | €6,667 | €6,667 | - | €6,667 | €6,667 | €6,667 | €6,667 | €6,667 | = |
| Reserves13 | €13,600 | €10,600 | €10,600 | €10,600 | €30,600 | €63,600 | €66,549 | €66,549 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €8,600 | €28,600 | €63,600 | €66,549 | €66,549 | = |
| Profit (loss) carried forward14 | €82 | €709 | €1,610 | €1,817 | €2,449 | €2,539 | - | -€12,448 | - |
| Amounts payable17/49 | €8,858 | €4,942 | €10,033 | €7,619 | €20,528 | €46,059 | €26,370 | €4,464 | ▼ 83.1% |
| Amounts payable within one year42/48 | €8,858 | €4,942 | €10,033 | €7,619 | €20,528 | €46,059 | €26,370 | €4,464 | ▼ 83.1% |
| Trade debts44 | €692 | €4,143 | €2,861 | €2,947 | €2,794 | €2,583 | €1,975 | €2,782 | ▲ 40.9% |
| Suppliers440/4 | - | - | - | €2,947 | €2,794 | €2,583 | €1,975 | €2,782 | ▲ 40.9% |
| Taxes, remuneration and social security45 | - | - | - | €1,374 | €15,084 | €40,098 | €23,039 | €1,681 | ▼ 92.7% |
| Taxes450/3 | - | - | - | €1,374 | €15,084 | €40,098 | €23,039 | €1,681 | ▼ 92.7% |
| Other amounts payable47/48 | - | - | - | €3,298 | €2,650 | €3,377 | €1,356 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,754 | -€2,373 | €901 | €207 | €20,632 | €33,090 | €410 | -€12,448 | - |
| + Depreciation and write-downs630 | €1,060 | €1,060 | €1,060 | €1,310 | €595 | €2,033 | €2,895 | €2,895 | = |
| Operating cash flow (approximation) | €4,814 | -€1,312 | €1,961 | €1,517 | €21,227 | €35,123 | €3,305 | -€9,553 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5,950 | -€7,560 | -€7,551 | €0 | €7,560 | - |
| Change in cash | - | -€10,397 | -€2,815 | -€392 | €21,838 | €65,611 | -€16,814 | -€24,186 | ▼ 43.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00270741 |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00224912 |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00213861 |
| 31-12-2022 | micro format | 10-08-2023 | 2023-00325660 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20325848 |
| 31-12-2020 | micro format | 29-06-2021 | 2021-30200023 |
| 31-12-2019 | micro format | 19-08-2020 | 2020-44400564 |
| 31-12-2018 | micro format | 24-07-2019 | 2019-39900219 |
| 31-12-2017 | full format | 16-08-2018 | 2018-47700166 |
| 31-12-2016 | micro format | 09-08-2017 | 2017-42700027 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| GRUSLIN Claire |
|
Owners and capital
Capital and shareholders
- 28-12-2023 Converted to unavailable equity
- 28-12-2023 Converted to uncalled contributions
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
28-12
Gazette deed
Resignation: GRUSLIN Claire (manager)Appointment: GRUSLIN Claire (director) · Legal-form conversion · Capital conversion12 facts ▸
- General meeting, 21-12-2023
- Legal-form conversion, “société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “compte de capitaux propres “apports non appelés”” (deed in French)
- Other provision, “suppression du compte de capitaux propres statutairement indisponible, compte créé en application de l’article 39,§2,deuxième alinéa de la loi du 23-03-2019” (deed in French)
- Other provision, “éventuels versements futurs de la part non encore libérée à ce jour du capital souscrit dans le passé, extension aux versements futurs de la part non encore lib…” (deed in French)
- Other provision, “résolutions précédentes, adoption de statuts complètement nouveaux” (deed in French)
- Capital
- Director resignation, GRUSLIN Claire (manager)
- Director appointment, GRUSLIN Claire (director (not named in the articles))
- Director discharge, GRUSLIN Claire
- Registered office clause, “4340 Villers-l’Evêque, Rue du Plantin 10, actionnaires,titulaires titres émis,titulaires certificats avec collaboration société” (deed in French)
Show earlier events
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62077B0963/00_000 | Wallonia | 2,539 m² | 1 · 157 m² | 9.9 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes prestations de service et tous mandats,notamment sous forme d’études,d’organisation,d’expertises,de conseils,d’actes juridiques,de…” (deed in French)
11 activities (deed in French)
- Toutes prestations de service et tous mandats,notamment sous forme d’études,d’organisation,d’expertises,de conseils,d’actes juridiques,de marketing,de management avec ou sans mise à disposition de personnel,locaux et matériel,dans la gestion commerciale,mobilière ou immobilière et dans les matières informatiques,administratives,financières,économiques,commerciales,comptables et juridiques,cette liste étant énonciative et non limitative.
- L’achat,la vente,l’importation,l’exportation,la commission et le courtage de tous produits et matériels.
- Elle pourra tant pour elle-même que pour compte de tiers,effectuer toutes opérations immobilières et foncières notamment l’achat,la vente,l’échange,la construction,la reconstruction,la location et la gérance de tous immeubles bâtis ainsi que la vente,l’échange,la mise en valeur,le lotissement,l’exploitation,la location et l’affermage de tous immeubles non bâtis et en outre la gestion et la vente de toutes valeurs mobilières et fonds publics,cette liste étant énonciative et non limitative.
- La société pourra réaliser toutes opérations généralement quelconques,commerciales,industrielles,financières,immobilières ou mobilières,de trading international ou d’intermédiaire commercial,ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à en faciliter la réalisation et participer à de telles activités de quelque façon que ce soit.
- Elle pourra également réaliser toutes opérations financières,mobilières ou immobilières pouvant se rattacher directement ou indirectement à l’objet et à tous objets similaires connexes,supplémentaires ou complémentaires de nature à favoriser son expansion
- La société peut constituer et gérer son patrimoine mobilier et immobilier propre,et poser tous les actes qui ont trait,directement ou indirectement,à cette gestion,et qui sont de nature à favoriser le produit de ces biens meubles et immeubles.
- Elle peut hypothéquer ses biens immeubles et fournir caution pour tous prêts,ouverture de crédit et autres opérations,aussi bien pour elle-même que pour tous tiers,à l’exception de ses clients.
- Elle dispose,d’une manière générale,d’une pleine capacité juridique pour accomplir tous les actes et opérations ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement,entièrement ou partiellement,la réalisation de cet objet.
- Elle peut s'intéresser par voie d'association,d'apport,de fusion,d'intervention financière ou autrement dans toutes sociétés,associations ou entreprises dont l'objet est identique,analogue ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de constituer pour elle une source de débouchés.
- Elle peut exercer les fonctions d’administrateur ou liquidateur dans d’autres sociétés.
- La société peut se porter garant ou fournir des sûretés réelles pour des sociétés ou des personnes privées,au sens le plus large.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ELLIPTIC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 13. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation,statutaire possible, organe d'administration” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Cessions entre vifs onéreuses ou gratuites,volontaires ou forcées,exclusion et retrait,incluant usufruit,nue-propriété,pleine…” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Décision assemblée générale formes modifications statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Administrateurs en fonction” (deed in French)