Summary
ELLU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.10M and a net result of €250k. Equity is growing by ~52.4% per year across the filed fiscal years. Its solvency ranks better than 20% of 2399 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 2399 sector peers (2025).
NBB · sector comparisonPosition among 2399 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
7 d early
2023
4 d early
2022
21 d early
2021
33 d early
2020
31 d early
2019
32 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€3.10M▲ 81.3%
2024 · €1.71M
2018: €148klowest in 8 years
2019: €253k▲ +70.8% vs 2018
2020: €369k▲ +45.7% vs 2019
2021: €1.96M▲ +433% vs 2020
2022: €2.03M▲ +3.3% vs 2021
2023: €2.09M▲ +3.0% vs 2022
2024: €1.71M▼ -18.1% vs 2023
2025: €3.10M▲ +81.3% vs 2024highest in 8 years
2018 → 2025
Net result
€250k
2024 · €-2.93M
2018: €107k
2019: €105k▼ -1.8% vs 2018
2020: €116k▲ +10.1% vs 2019
2021: €41k▼ -64.3% vs 2020
2022: €64k▲ +55.3% vs 2021
2023: €60k▼ -6.4% vs 2022
2024: €-2.93M▼ -4977% vs 2023lowest in 8 years
2025: €250k▲ +109% vs 2024highest in 8 years
2018 → 2025
Total assets
€12.72M▲ 9.2%
2024 · €11.64M
2018: €1.93M
2019: €1.93M● -0.0% vs 2018lowest in 8 years
2020: €1.96M▲ +1.7% vs 2019
2021: €1.98M▲ +0.9% vs 2020
2022: €2.03M▲ +2.8% vs 2021
2023: €2.10M▲ +3.0% vs 2022
2024: €11.64M▲ +456% vs 2023
2025: €12.72M▲ +9.2% vs 2024highest in 8 years
2018 → 2025
Solvency
24.4%▲ 9.7pp
2024 · 14.7%
2018: 7.7%lowest in 8 years
2019: 13.1%▲ +70.9% vs 2018
2020: 18.8%▲ +43.3% vs 2019
2021: 99.2%▲ +428% vs 2020
2022: 99.7%▲ +0.5% vs 2021highest in 8 years
2023: 99.7%▼ -0.1% vs 2022
2024: 14.7%▼ -85.3% vs 2023
2025: 24.4%▲ +66.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.96M-€2.03M▲ 3.3%€2.09M▲ 3.0%€1.71M▼ 18.1%€3.10M▲ 81.3%
2021: €1.96M
2022: €2.03M▲ +3.3% vs 2021
2023: €2.09M▲ +3.0% vs 2022
2024: €1.71M▼ -18.1% vs 2023lowest in 5 years
2025: €3.10M▲ +81.3% vs 2024highest in 5 years
Operating result€65k-€86k▲ 31.0%€81k▼ 6.1%€-2.73M€554k
2021: €65k
2022: €86k▲ +31.0% vs 2021
2023: €81k▼ -6.1% vs 2022
2024: €-2.73M▼ -3491% vs 2023lowest in 5 years
2025: €554k▲ +120% vs 2024highest in 5 years
Net result€41k-€64k▲ 55.3%€60k▼ 6.4%€-2.93M€250k
2021: €41k
2022: €64k▲ +55.3% vs 2021
2023: €60k▼ -6.4% vs 2022
2024: €-2.93M▼ -4977% vs 2023lowest in 5 years
2025: €250k▲ +109% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €554k after a loss of €2.73M in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.72M
Fixed assets
€12.52M ▲ 10.0%
Current assets
€198k ▼ 24.7%
Equity and liabilities €12.72M
Equity
€3.10M ▲ 81.3%
Provisions
€1.58M ▼ 1.5%
Debt
€8.04M ▼ 3.5%
Debt's share of the balance-sheet total falls from 71.6% to 63.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.1%▲
2024 · -171.4%
ROA
2.0%▲
2024 · -25.2%
Debt ≤ 1 year
€3.04M▲
2024 · €53k
Debt > 1 year
€5.00M▼
2024 · €8.25M
Income taxes
€-15▼
2024 · €15
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11.64M€12.72M▲
Fixed assets21/28€11.38M€12.52M▲
Tangible fixed assets22/27€11.38M€12.52M▲
Land and buildings22€11.38M€12.52M▲
Current assets29/58€264k€198k▼
Amounts receivable within one year40/41€79k€162k▲
Trade receivables40€36k€141k▲
Other amounts receivable41€43k€21k▼
Cash at bank and in hand54/58€184k€36k▼
Equity and liabilities
Total equity and liabilities10/49€11.64M€12.72M▲
Equity10/15€1.71M€3.10M▲
Contributions10/11€4.17M€4.17M=
Capital10€4.17M€4.17M=
Issued capital100€7.62M€7.62M=
Uncalled capital101€3.45M€3.45M=
Revaluation surpluses12-€1.14M
Reserves13€16k€16k=
Non-distributable reserves130/1€16k€16k=
Legal reserve130€16k€16k=
Profit (loss) carried forward14€-2.47M€-2.22M▲
Provisions and deferred taxes16€1.60M€1.58M▼
Provisions for liabilities and charges160/5€1.60M€1.58M▼
Major repairs and maintenance162-€1.58M
Environmental obligations163€1.60M-
Amounts payable17/49€8.34M€8.04M▼
Amounts payable after more than one year17€8.25M€5.00M▼
Financial debts170/4€5.25M€5.00M▼
Other amounts payable178/9€3.00M€0▼
Amounts payable within one year42/48€53k€3.04M▲
Financial debts43-€3.00M
Other loans439-€3.00M
Trade debts44€52k€12k▼
Suppliers440/4€52k€12k▼
Taxes, remuneration and social security45-€29k
Taxes450/3-€29k
Other amounts payable47/48€407€0▼
Accrued charges and deferred income492/3€33k€3k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.14M€0▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€1.60M€-24k▼
Other operating charges640/8€8k€18k▲
Gross operating margin9900€17k€548k▲
Operating profit (loss)9901€-2.73M€554k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€202k€306k▲
Recurring financial charges65€202k€306k▲
Profit (loss) for the period before taxes9903€-2.93M€250k▲
Income taxes67/77€15€-15▼
Profit (loss) for the period9904€-2.93M€250k▲
Profit (loss) for the period to be appropriated9905€-2.93M€250k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2.47M€-2.22M▲
Profit (loss) brought forward from the previous period14P€457k€-2.47M▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1.14M | €0 | ▼ 100% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €1.60M | €-24k | ▼ 101% |
| Other operating charges640/8 | €162 | €215 | €1k | €8k | €18k | ▲ 118% |
| Gross operating margin9900 | €66k | €86k | €82k | €17k | €548k | ▲ 3,099% |
| Operating profit (loss)9901 | €65k | €86k | €81k | €-2.73M | €554k | ▲ 120% |
| Financial income75/76B | - | €1 | - | €3k | €2k | ▼ 37.7% |
| Recurring financial income75 | - | €1 | - | €3k | €2k | ▼ 37.7% |
| Financial charges65/66B | €10k | €151 | €451 | €202k | €306k | ▲ 51.7% |
| Recurring financial charges65 | €10k | €151 | €451 | €202k | €306k | ▲ 51.7% |
| Profit (loss) for the period before taxes9903 | €55k | €86k | €80k | €-2.93M | €250k | ▲ 109% |
| Income taxes67/77 | €14k | €21k | €20k | €15 | €-15 | ▼ 200% |
| Profit (loss) for the period9904 | €41k | €64k | €60k | €-2.93M | €250k | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €41k | €64k | €60k | €-2.93M | €250k | ▲ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.98M | €2.03M | €2.10M | €11.64M | €12.72M | ▲ 9.2% |
| Fixed assets21/28 | €1.89M | €1.89M | €1.89M | €11.38M | €12.52M | ▲ 10.0% |
| Tangible fixed assets22/27 | €1.89M | €1.89M | €1.89M | €11.38M | €12.52M | ▲ 10.0% |
| Land and buildings22 | €1.89M | €1.89M | €1.89M | €11.38M | €12.52M | ▲ 10.0% |
| Current assets29/58 | €91k | €146k | €208k | €264k | €198k | ▼ 24.7% |
| Amounts receivable within one year40/41 | €34k | €68k | €153k | €79k | €162k | ▲ 105% |
| Trade receivables40 | €17k | €40k | €147k | €36k | €141k | ▲ 288% |
| Other amounts receivable41 | €17k | €29k | €6k | €43k | €21k | ▼ 50.5% |
| Cash at bank and in hand54/58 | €58k | €78k | €55k | €184k | €36k | ▼ 80.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.98M | €2.03M | €2.10M | €11.64M | €12.72M | ▲ 9.2% |
| Equity10/15 | €1.96M | €2.03M | €2.09M | €1.71M | €3.10M | ▲ 81.3% |
| Contributions10/11 | €1.62M | €1.62M | €1.62M | €4.17M | €4.17M | = |
| Capital10 | €1.62M | €1.62M | €1.62M | €4.17M | €4.17M | = |
| Issued capital100 | €1.62M | €1.62M | €1.62M | €7.62M | €7.62M | = |
| Uncalled capital101 | - | - | - | €3.45M | €3.45M | = |
| Revaluation surpluses12 | - | - | - | - | €1.14M | - |
| Reserves13 | €8k | €13k | €16k | €16k | €16k | = |
| Non-distributable reserves130/1 | €8k | €13k | €16k | €16k | €16k | = |
| Legal reserve130 | €8k | €13k | €16k | €16k | €16k | = |
| Profit (loss) carried forward14 | €340k | €400k | €457k | €-2.47M | €-2.22M | ▲ 10.1% |
| Provisions and deferred taxes16 | - | - | - | €1.60M | €1.58M | ▼ 1.5% |
| Provisions for liabilities and charges160/5 | - | - | - | €1.60M | €1.58M | ▼ 1.5% |
| Major repairs and maintenance162 | - | - | - | - | €1.58M | - |
| Environmental obligations163 | - | - | - | €1.60M | - | - |
| Amounts payable17/49 | €15k | €5k | €7k | €8.34M | €8.04M | ▼ 3.5% |
| Amounts payable after more than one year17 | - | - | - | €8.25M | €5.00M | ▼ 39.4% |
| Financial debts170/4 | - | - | - | €5.25M | €5.00M | ▼ 4.8% |
| Other amounts payable178/9 | - | - | - | €3.00M | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €15k | €5k | €7k | €53k | €3.04M | ▲ 5,675% |
| Financial debts43 | - | - | - | - | €3.00M | - |
| Other loans439 | - | - | - | - | €3.00M | - |
| Trade debts44 | €11k | €2k | €7k | €52k | €12k | ▼ 76.2% |
| Suppliers440/4 | €11k | €2k | €7k | €52k | €12k | ▼ 76.2% |
| Taxes, remuneration and social security45 | €4k | €3k | - | - | €29k | - |
| Taxes450/3 | €4k | €3k | - | - | €29k | - |
| Other amounts payable47/48 | €407 | €407 | €407 | €407 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €33k | €3k | ▼ 91.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41k | €64k | €60k | €-2.93M | €250k | ▲ 109% |
| + Depreciation and write-downs630 | - | - | - | €1.14M | €0 | ▼ 100% |
| Operating cash flow (approximation) | €41k | €64k | €60k | €-1.79M | €250k | ▲ 114% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-10.63M | €-1.14M | ▲ 89.3% |
| Change in cash | - | €20k | €-22k | €129k | €-148k | ▼ 215% |
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
Next filing, fiscal year 2026, expected by
2026
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €250k
Net result €250k after one loss-making year.
31-12
Financial
Equity above €2MEq €3.10M ▲81.3%
Equity rises from €1.71M to €3.10M.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-2.93M
Net result drops to €-2.93M, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 26.84
Current ratio from 6.05 to 26.84; short-term debt falls from €15k to €5k.
31-12
Financial
Equity above €2MEq €2.03M ▲3.3%
5 profitable years in a row build equity to €2.03M.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 132current ratio 6.05
Current ratio from 0.05 to 6.05; short-term debt falls from €1.59M to €15k.
31-12
Financial
Equity above €1MEq €1.96M ▲433%
4 profitable years in a row build equity to €1.96M.
Show earlier events
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €253k ▲70.8%
2 profitable years in a row build equity to €253k.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Geel · 1 establishment unit since 1999
Ground area
3,521 m²
Building footprint
390 m²
Volume, LiDAR
1,803 m³
Parcel 13008I1668/00Y003, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Meerhoutseweg 82, 2440 Geel
since 19992.092.027.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13008I1668/00Y003 | Flanders | 3,521 m² | 1 · 390 m² | 7.5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 24,727 companies in sector 64210 we hold annual accounts for 19,768. 9,613 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded07-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.