ELMA
ActiveELMA has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28k and a net result of €128k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 12627 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
65
/ 100
Healthy▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency30▲+11
Growth58=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.08 in 2024), and 80.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.8%
Return on assets
91.8%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 12627 sector peers (2025).
NBB · sector comparisonPosition among 12627 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 11-03-2026, 142 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
142 d early
2024
108 d early
2023
146 d early
2022
157 d early
2021
96 d early
2020
87 d early
2019
122 d early
← before the deadline
after the deadline →
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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€28k▼ 21.0%
2024 · €35k
2018: €82k
2019: €26k
2020: €44k
2021: €76k
2022: €23k
2023: €82k
2024: €35k
2018 → 2025
Total assets
€139k▼ 63.1%
2024 · €377k
2018: €124k
2019: €162k
2020: €153k
2021: €223k
2022: €266k
2023: €249k
2024: €377k
2018 → 2025
Net result
€128k▼ 33.3%
2024 · €191k
2018: €35k
2019: €44k
2020: €78k
2021: €132k
2022: €137k
2023: €129k
2024: €191k
2018 → 2025
Working capital
€24k▼ 12.0%
2024 · €27k
2018: €82k
2019: €26k
2020: €9k
2021: €48k
2022: €3k
2023: €71k
2024: €27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€76k-€23k▼ 69.3%€82k▲ 251%€35k▼ 57.5%€28k▼ 21.0%
Operating result€174k-€183k▲ 5.4%€170k▼ 7.0%€260k▲ 52.6%€170k▼ 34.6%
Net result€132k-€137k▲ 4.0%€129k▼ 6.1%€191k▲ 48.5%€128k▼ 33.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €139k
Fixed assets
€10k▼ 26.7%
Current assets
€129k▼ 64.5%
Equity and liabilities €139k
Equity
€28k▼ 21.0%
Debt
€112k▼ 67.4%
The debt ratio falls from 90.7% to 80.2%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€174k▼
2024 · €269k
Cash flow
€131k▼
2024 · €201k
Solvency
19.8%▲
2024 · 9.3%
Current ratio
1.23▲
2024 · 1.08
Quick ratio
1.23▲
2024 · 1.08
Debt / equity
4.04▼
2024 · 9.81
ROE
462.8%▼
2024 · 548.0%
ROA
91.8%▲
2024 · 50.7%
Interest coverage
61.14▲
2024 · 38.81
Debt
€112k▼
2024 · €342k
Debt ≤ 1 year
€105k▼
2024 · €336k
Income taxes
€39k▼
2024 · €61k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€377k€139k▼
Fixed assets21/28€14k€10k▼
Tangible fixed assets22/27€14k€10k▼
Furniture and vehicles24€3k€2k▼
Other tangible fixed assets26€11k€9k▼
Current assets29/58€363k€129k▼
Amounts receivable within one year40/41€11k€14k▲
Trade receivables40€2k€2k▼
Other amounts receivable41€9k€12k▲
Cash at bank and in hand54/58€352k€114k▼
Deferred charges and accrued income490/1€0€1k▲
Equity and liabilities
Total equity and liabilities10/49€377k€139k▼
Equity10/15€35k€28k▼
Contributions10/11€19k€19k=
Reserves13€16k€9k▼
Distributable reserves133€16k€9k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€342k€112k▼
Amounts payable within one year42/48€336k€105k▼
Trade debts44€416€2k▲
Suppliers440/4€416€2k▲
Taxes, remuneration and social security45€5k€8k▲
Taxes450/3€5k€5k▼
Remuneration and social security454/9-€3k
Other amounts payable47/48€330k€95k▼
Accrued charges and deferred income492/3€7k€7k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€4k▼
Other operating charges640/8€712€859▲
Non-recurring operating charges66A€0-
Gross operating margin9900€270k€174k▼
Operating profit (loss)9901€260k€170k▼
Financial charges65/66B€7k€3k▼
Recurring financial charges65€7k€3k▼
Profit (loss) for the period before taxes9903€253k€167k▼
Income taxes67/77€61k€39k▼
Profit (loss) for the period9904€191k€128k▼
Profit (loss) for the period to be appropriated9905€191k€128k▼
Appropriation of the result
Profit (loss) to be appropriated9906€191k€128k▼
Transfer from equity791/2€64k€16k▼
Transfer to equity691/2€16k€9k▼
To other reserves6921€16k€9k▼
Profit to be distributed694/7€239k€135k▼
Return on contributions (dividend)694€239k€135k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
14-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €191k ▲48.5%
Operating result €260k, net result €191k, both a record.
07-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2020
Vanden Bulcke Sofie
CurrentDirector · since 01-01-2020
01-01-2020
Appointed as Director
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2016
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Edmond Depraterestraat(Kor) 48500 Kortrijk1 establishment unit
Elma
since 20162.254.318.602
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Of 22,018 companies in sector 69101 we hold annual accounts for 9,028. 6,567 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-06-2016
Fiscal year end31-12
Activities, NACEBEL
69101Activities of lawyers
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filings
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.