Els Baelus
ActiveSummary
Els Baelus has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28k and a net result of €-826. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 37% of 2284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-12
Solvency52▼-48
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 5.09 in 2024; short-term debt: 73.2% and cash: 61.9% of total assets), and 73.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.8%
Return on assets
-0.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 02-03-2026, 151 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
151 d early
2024
58 d early
2023
76 d early
2022
31 d early
2021
37 d early
2020
40 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, abbreviated schema
Equity
€28k▼ 68.1%
2024 · €89k
2020: €53k
2021: €63k▲ +17.9% vs 2020
2022: €81k▲ +28.9% vs 2021
2023: €80k▼ -1.3% vs 2022
2024: €89k▲ +11.2% vs 2023highest in 6 years
2025: €28k▼ -68.1% vs 2024lowest in 6 years
2020 → 2025
Total assets
€106k▼ 3.5%
2024 · €110k
2020: €66klowest in 6 years
2021: €67k▲ +0.6% vs 2020
2022: €88k▲ +31.5% vs 2021
2023: €93k▲ +6.5% vs 2022
2024: €110k▲ +18.0% vs 2023highest in 6 years
2025: €106k▼ -3.5% vs 2024
2020 → 2025
Net result
€-826
2024 · €10k
2020: €11k
2021: €6k▼ -47.9% vs 2020
2022: €15k▲ +147% vs 2021highest in 6 years
2023: €-265▼ -102% vs 2022
2024: €10k▲ +3816% vs 2023
2025: €-826▼ -108% vs 2024lowest in 6 years
2020 → 2025
Working capital
€19k▼ 77.9%
2024 · €85k
2020: €49k
2021: €60k▲ +22.7% vs 2020
2022: €72k▲ +19.4% vs 2021
2023: €74k▲ +3.2% vs 2022
2024: €85k▲ +14.6% vs 2023highest in 6 years
2025: €19k▼ -77.9% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€63k-€81k▲ 28.9%€80k▼ 1.3%€89k▲ 11.2%€28k▼ 68.1%
2021: €63k
2022: €81k▲ +28.9% vs 2021
2023: €80k▼ -1.3% vs 2022
2024: €89k▲ +11.2% vs 2023highest in 5 years
2025: €28k▼ -68.1% vs 2024lowest in 5 years
Operating result€11k-€21k▲ 85.9%€2k▼ 89.6%€14k▲ 548%€443▼ 96.8%
2021: €11k
2022: €21k▲ +85.9% vs 2021highest in 5 years
2023: €2k▼ -89.6% vs 2022
2024: €14k▲ +548% vs 2023
2025: €443▼ -96.8% vs 2024lowest in 5 years
Net result€6k-€15k▲ 147%€-265€10k€-826
2021: €6k
2022: €15k▲ +147% vs 2021highest in 5 years
2023: €-265▼ -102% vs 2022
2024: €10k▲ +3816% vs 2023
2025: €-826▼ -108% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €106k
Fixed assets
€10k ▲ 120%
Current assets
€96k ▼ 8.6%
Equity and liabilities €106k
Equity
€28k ▼ 68.1%
Debt
€78k ▲ 275%
Debt's share of the balance-sheet total rises from 18.9% to 73.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4k▼
2024 · €16k
Cash flow
€3k▼
2024 · €12k
Current ratio
1.24▼
2024 · 5.09
Debt to equity
2.73▲
2024 · 0.23
ROE
-2.9%▼
2024 · 11.0%
ROA
-0.8%▼
2024 · 9.0%
Interest coverage
14.38▼
2024 · 34.92
Debt ≤ 1 year
€78k▲
2024 · €21k
Income taxes
€2k▼
2024 · €5k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€110k€106k▼
Fixed assets21/28€4k€10k▲
Tangible fixed assets22/27€4k€10k▲
Plant, machinery and equipment23-€3k
Furniture and vehicles24€2k€6k▲
Other tangible fixed assets26€2k€1k▼
Financial fixed assets28€100€100=
Current assets29/58€106k€96k▼
Amounts receivable within one year40/41€17k€31k▲
Trade receivables40€14k€25k▲
Other amounts receivable41€3k€6k▲
Cash at bank and in hand54/58€89k€66k▼
Deferred charges and accrued income490/1-€69
Equity and liabilities
Total equity and liabilities10/49€110k€106k▼
Equity10/15€89k€28k▼
Contributions10/11€10k€10k=
Reserves13€50€50=
Non-distributable reserves130/1€50€50=
Reserves not available under the articles1311€50€50=
Profit (loss) carried forward14€80k€19k▼
Amounts payable17/49€21k€78k▲
Amounts payable within one year42/48€21k€78k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€53-
Taxes450/3€53-
Other amounts payable47/48€18k€75k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€4k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€17k€5k▼
Operating profit (loss)9901€14k€443▼
Financial income75/76B€2k€817▼
Recurring financial income75€2k€817▼
Financial charges65/66B€453€300▼
Recurring financial charges65€453€300▼
Profit (loss) for the period before taxes9903€15k€960▼
Income taxes67/77€5k€2k▼
Profit (loss) for the period9904€10k€-826▼
Profit (loss) for the period to be appropriated9905€10k€-826▼
Appropriation of the result
Profit (loss) to be appropriated9906€81k€79k▼
Profit (loss) brought forward from the previous period14P€71k€80k▲
Profit to be distributed694/7€859€60k▲
Return on contributions (dividend)694€859€60k▲
The notes to these accounts (7 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 | €2k | €3k | €3k | €2k | €4k | ▲ 111% |
| Other operating charges640/8 | €2k | €992 | €1k | €1k | €1k | ▲ 3.1% |
| Gross operating margin9900 | €15k | €25k | €7k | €17k | €5k | ▼ 68.0% |
| Operating profit (loss)9901 | €11k | €21k | €2k | €14k | €443 | ▼ 96.8% |
| Financial income75/76B | €193 | €431 | €159 | €2k | €817 | ▼ 50.9% |
| Recurring financial income75 | €193 | €431 | €159 | €2k | €817 | ▼ 50.9% |
| Financial charges65/66B | €56 | €48 | €55 | €453 | €300 | ▼ 33.7% |
| Recurring financial charges65 | €56 | €48 | €55 | €453 | €300 | ▼ 33.7% |
| Profit (loss) for the period before taxes9903 | €11k | €21k | €2k | €15k | €960 | ▼ 93.7% |
| Income taxes67/77 | €5k | €7k | €3k | €5k | €2k | ▼ 66.5% |
| Profit (loss) for the period9904 | €6k | €15k | €-265 | €10k | €-826 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | €6k | €15k | €-265 | €10k | €-826 | ▼ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €67k | €88k | €93k | €110k | €106k | ▼ 3.5% |
| Fixed assets21/28 | €3k | €10k | €6k | €4k | €10k | ▲ 120% |
| Tangible fixed assets22/27 | €3k | €10k | €6k | €4k | €10k | ▲ 122% |
| Plant, machinery and equipment23 | - | - | - | - | €3k | - |
| Furniture and vehicles24 | €3k | €6k | €3k | €2k | €6k | ▲ 139% |
| Other tangible fixed assets26 | - | €4k | €3k | €2k | €1k | ▼ 49.0% |
| Financial fixed assets28 | - | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €64k | €78k | €87k | €106k | €96k | ▼ 8.6% |
| Amounts receivable within one year40/41 | €11k | €15k | €15k | €17k | €31k | ▲ 83.7% |
| Trade receivables40 | €5k | €8k | €12k | €14k | €25k | ▲ 75.7% |
| Other amounts receivable41 | €7k | €6k | €2k | €3k | €6k | ▲ 128% |
| Current investments50/53 | - | - | €45k | - | - | - |
| Cash at bank and in hand54/58 | €52k | €63k | €27k | €89k | €66k | ▼ 26.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €69 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €67k | €88k | €93k | €110k | €106k | ▼ 3.5% |
| Equity10/15 | €63k | €81k | €80k | €89k | €28k | ▼ 68.1% |
| Contributions10/11 | €5k | €10k | €10k | €10k | €10k | = |
| Reserves13 | €50 | €50 | €50 | €50 | €50 | = |
| Non-distributable reserves130/1 | €50 | €50 | €50 | €50 | €50 | = |
| Reserves not available under the articles1311 | €50 | €50 | €50 | €50 | €50 | = |
| Profit (loss) carried forward14 | €58k | €72k | €71k | €80k | €19k | ▼ 76.3% |
| Amounts payable17/49 | €4k | €6k | €13k | €21k | €78k | ▲ 275% |
| Amounts payable within one year42/48 | €4k | €6k | €13k | €21k | €78k | ▲ 275% |
| Trade debts44 | €2k | €4k | €4k | €2k | €3k | ▲ 33.1% |
| Suppliers440/4 | €2k | €4k | €4k | €2k | €3k | ▲ 33.1% |
| Taxes, remuneration and social security45 | €876 | €2k | €6k | €53 | - | - |
| Taxes450/3 | €876 | €2k | €3k | €53 | - | - |
| Remuneration and social security454/9 | - | - | €4k | - | - | - |
| Other amounts payable47/48 | €800 | €900 | €2k | €18k | €75k | ▲ 307% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €15k | €-265 | €10k | €-826 | ▼ 108% |
| + Depreciation and write-downs630 | €2k | €3k | €3k | €2k | €4k | ▲ 111% |
| Operating cash flow (approximation) | €7k | €17k | €3k | €12k | €3k | ▼ 73.9% |
| Investment in fixed assets (approximation) | - | €-9k | €0 | €0 | €-9k | - |
| Change in cash | - | €11k | €-36k | €62k | €-23k | ▼ 138% |
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
02-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-826
Net result drops to €-826, the lowest in the series.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2020net €15k ▲147%
Operating result €21k, net result €15k, both a record.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity quadruplescurrent ratio 17.99
Current ratio from 4.84 to 17.99; short-term debt falls from €13k to €4k.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Herselt · 1 establishment unit since 2013
Ground area
1,276 m²
Building footprint
124 m²
Volume, LiDAR
666 m³
Parcel 13392M0462/00T002, Flanders · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GCV Els Baelus
since 20132.225.412.503
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13392M0462/00T002 | Flanders | 1,276 m² | 1 · 124 m² | 6.2 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.
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Of 11,218 companies in sector 82100 we hold annual accounts for 3,511. 2,395 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
Founded16-12-2013
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
Contact
E-mail
elsbaelus@telenet.be
Phone
0477323571
Scores and ratios are computed by Checked and are not a credit decision.