ELMU
ActiveSummary
ELMU has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €55,964 and a net result of €12,251. Equity is growing by ~32.2% per year across the filed fiscal years. Its solvency ranks better than 28% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▲+1
Solvency52▲+6
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity short (current ratio 0.35 against 0.3 in 2024; short-term debt: 17.5% and cash: 6% of total assets), and 73.2% of the assets are financed with debt.
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Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
26.8%
Return on assets
5.9%
Age of the figures
9 mo
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 22-05-2026, 70 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
70 d early
2024
77 d early
2023
49 d early
2022
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 61 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€55,964▲ 28.0%
2024 · €43,714
Total assets
€208,737▲ 1.3%
2024 · €206,009
Net result
€12,251▲ 11.3%
2024 · €11,002
Working capital
-€23,890▼ 1.5%
2024 · -€23,536
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€17,111-€21,887▲ 27.9%€17,825▼ 18.6%€18,928▲ 6.2%
Net result€11,902-€13,809▲ 16.0%€11,002▼ 20.3%€12,251▲ 11.3%
Equity€18,902-€32,711▲ 73.1%€43,714▲ 33.6%€55,964▲ 28.0%
Total assets€223,829-€220,942▼ 1.3%€206,009▼ 6.8%€208,737▲ 1.3%
Debt€204,927-€188,230▼ 8.1%€162,295▼ 13.8%€152,773▼ 5.9%
Working capital-€5,939--€12,602▼ 112%-€23,536▼ 86.8%-€23,890▼ 1.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 6% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208,737
Fixed assets
€196,000 =
Current assets
€12,737 ▲ 27.3%
Equity and liabilities €208,737
Equity
€55,964 ▲ 28.0%
Debt
€152,773 ▼ 5.9%
Debt's share of the balance-sheet total falls from 78.8% to 73.2%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.35▲
2024 · 0.30
Debt to equity
2.73▼
2024 · 3.71
ROE
21.9%▼
2024 · 25.2%
ROA
5.9%▲
2024 · 5.3%
Debt ≤ 1 year
€36,627▲
2024 · €33,545
Debt > 1 year
€115,246▼
2024 · €127,850
Income taxes
€3,063▲
2024 · €2,751
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €348 | €448 | €451 | €465 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | €570 | - |
| Gross operating margin9900 | €17,458 | €22,335 | €18,276 | €19,963 | ▲ 9.2% |
| Operating profit (loss)9901 | €17,111 | €21,887 | €17,825 | €18,928 | ▲ 6.2% |
| Financial income75/76B | €0 | - | - | - | - |
| Recurring financial income75 | €0 | - | - | - | - |
| Financial charges65/66B | €2,223 | €4,626 | €4,072 | €3,615 | ▼ 11.2% |
| Recurring financial charges65 | €2,223 | €4,626 | €4,072 | €3,615 | ▼ 11.2% |
| Profit (loss) for the period before taxes9903 | €14,888 | €17,261 | €13,753 | €15,313 | ▲ 11.3% |
| Income taxes67/77 | €2,986 | €3,452 | €2,751 | €3,063 | ▲ 11.3% |
| Profit (loss) for the period9904 | €11,902 | €13,809 | €11,002 | €12,251 | ▲ 11.3% |
| Profit (loss) for the period to be appropriated9905 | €11,902 | €13,809 | €11,002 | €12,251 | ▲ 11.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €223,829 | €220,942 | €206,009 | €208,737 | ▲ 1.3% |
| Fixed assets21/28 | €196,000 | €196,000 | €196,000 | €196,000 | = |
| Financial fixed assets28 | €196,000 | €196,000 | €196,000 | €196,000 | = |
| Current assets29/58 | €27,829 | €24,942 | €10,009 | €12,737 | ▲ 27.3% |
| Amounts receivable within one year40/41 | - | - | €1,300 | - | - |
| Other amounts receivable41 | - | - | €1,300 | - | - |
| Cash at bank and in hand54/58 | €27,829 | €24,689 | €8,203 | €12,484 | ▲ 52.2% |
| Deferred charges and accrued income490/1 | - | €253 | €506 | €253 | ▼ 50.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €223,829 | €220,942 | €206,009 | €208,737 | ▲ 1.3% |
| Equity10/15 | €18,902 | €32,711 | €43,714 | €55,964 | ▲ 28.0% |
| Contributions10/11 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Profit (loss) carried forward14 | €11,902 | €25,711 | €36,714 | €48,964 | ▲ 33.4% |
| Amounts payable17/49 | €204,927 | €188,230 | €162,295 | €152,773 | ▼ 5.9% |
| Amounts payable after more than one year17 | €171,158 | €149,687 | €127,850 | €115,246 | ▼ 9.9% |
| Financial debts170/4 | €71,158 | €59,687 | €47,850 | €35,246 | ▼ 26.3% |
| Other amounts payable178/9 | €100,000 | €90,000 | €80,000 | €80,000 | = |
| Amounts payable within one year42/48 | €33,769 | €37,543 | €33,545 | €36,627 | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | €11,117 | €11,471 | €11,837 | €12,604 | ▲ 6.5% |
| Trade debts44 | - | €1,821 | €1,821 | €203 | ▼ 88.9% |
| Suppliers440/4 | - | €1,821 | €1,821 | €203 | ▼ 88.9% |
| Taxes, remuneration and social security45 | €9,768 | €13,117 | €8,845 | €9,998 | ▲ 13.0% |
| Taxes450/3 | €9,768 | €13,117 | €8,845 | €9,998 | ▲ 13.0% |
| Other amounts payable47/48 | €12,884 | €11,134 | €11,042 | €13,822 | ▲ 25.2% |
| Accrued charges and deferred income492/3 | - | €1,000 | €900 | €900 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,902 | €13,809 | €11,002 | €12,251 | ▲ 11.3% |
| Operating cash flow (approximation) | €11,902 | €13,809 | €11,002 | €12,251 | ▲ 11.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | -€3,141 | -€16,486 | €4,281 | ▲ 126% |
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
26-08
State Gazette act
Capital & shares · RestructuringAppointment: Muriel NOEL (sole director) · Permanent representative: Muriel NOEL · Merger20 facts ▸
State Gazette act
Capital & shares · Restructuring
Appointment: Muriel NOEL (sole director) · Permanent representative: Muriel NOEL · Merger20 facts ▸
- Merger, fusion par absorption, tout le patrimoine de la Société Absorbée - en ce compris ses droits et obligations
- Shareholding
- Incorporation, 31-05-2022
- Other statement, statuts, jamais modifiés
- Director appointment, Muriel NOEL (sole director)
- Shareholding, 10-07-2026, actions
- Permanent representative, Muriel NOEL (permanent representative)
- Director in office, Joseph NOEL (director)
- Director in office, Anne GARROY (director)
- Capital
- Shareholding, 10-07-2026, actions
- Declaration, no special rights, Il n'y a pas d'actions dans la Société Absorbée donnant des droits spéciaux à des actionnaires, ni de titres autres que des actions. Par cons…
- +8 further facts in this act
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €11,002 ▼20.3%
Net result drops to €11,002, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €13,809 ▲16%
Operating result €21,887, net result €13,809, both a record.
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Muriel NOEL
CurrentSole director · since 26-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Remicourt · 1 establishment unit since 2022
Ground area
1,167 m²
Building footprint
255 m²
Volume, LiDAR
1,513 m³
2 parcels, Wallonia · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FLEURANNE
since 20222.331.960.073
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64050B0281/00Z000 | Wallonia | 1,116 m² | 1 · 70 m² | 6.6 m · 2 fl. |
| 64050B0281/00T000 | Wallonia | 51 m² | 1 · 185 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Muriel NOEL |
|
Articles of association
Purpose
La prise de participation directe ou indirecte dans toutes sociétés ou entreprises commerciales, industrielles, financières, mobilières ou immobilières; Le contrôle de leur gestion…
Full purpose (8 activities)
- La prise de participation directe ou indirecte dans toutes sociétés ou entreprises commerciales, industrielles, financières, mobilières ou immobilières
- Le contrôle de leur gestion ou la participation à celle-ci par la prise de tous mandats au sein desdites sociétés ou entreprises
- L'achat, l'administration, la vente de toutes valeurs mobilières et immobilières, de tous droits sociaux et d'une manière générale toutes opérations de gestion du portefeuille ainsi constitué
- La réalisation d'opérations d'achat, de vente, d'échange, de location, de prise en location et en sous-location d'immeubles
- L'exploitation et l'entretien de maisons, appartements, bureaux, magasins, fonds de commerce, terrains terres et domaines et de manière générale de tous biens immobiliers, ainsi que toutes opérations de promotion immobilière
- 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
- 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
- Exercer les fonctions d'administrateur ou liquidateur dans d'autres sociétés
Other statement
One provision in the deed
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
- FLEURANNEsubsidiary100%
According to the 2025 annual accounts of ELMU and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Acquisitions and mergers
1 transactionTook over:FLEURANNE
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 26-08-2026 ↗
- Muriel NOEL 100 shares · 100%
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 38,641 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
fleuranne@skynet.be
Phone
+32491255076
E-invoicing
Reachable via Peppol
Peppol ID
0208:0786683262
Also
9925:BE0786683262
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.