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Complete company report
Generated 15-08-2026
Active BE 0846.310.251Private limited company (pre-2019)Open bankruptcy

ELSAM

· 14 yrs active
Conclusion Checked

A bankruptcy procedure is open for ELSAM according to publications in the Belgian State Gazette. The file additionally contains 1 administrative flag. The 2021 annual accounts show equity of €48k and a net result of €46k.

Based on the State Gazette, CBE and 4 annual accounts.
Key figures
Equity €48k
Net result €46k
Staff (FTE) 2.8
Active 14 yrs
Snowflake analysis 5 of 5 axes measured · computed by Checked
Health24Profitability100Solvency100Growth52Stability0
55 / 100

Mixed profile: strong on profitability, weaker on stability.

All 5 axes are computed from data Checked has read.

Health 24
Profitability 100
Solvency 100
Growth 52
Stability 0
Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based
53 / 100
High riskRegister: open bankruptcy
This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.
Components
· Open bankruptcy (+50)
· 1 administrative flag (+3)
Trust signals 2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.
Administrative Flags1 events
Address struck
Health barometer FY 2021 · computed
24 / 100 Critical
050100
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Financial overview9 NBB filings
Annual accounts filed on 22-11-2022 with the NBB · fiscal year 2021 · micro
€-200k€0€200k€400kOperating result 2018: €9k€9kNet result 2018: €3k€3kRevenue 2019: €478k€478kOperating result 2019: €8k€8kNet result 2019: €5k€5kRevenue 2020: €175k€175kOperating result 2020: €-11k€-11kNet result 2020: €-9k€-9kRevenue 2021: €272k€272kOperating result 2021: €48k€48kNet result 2021: €46k€46k2018201920202021
RevenueOperating resultNet result
Revenue
€272k
+55.4% 18-21
EBITDA
€-11k
- 18-21
Net profit
€46k
- 18-21
Cash flow
€-8k
- 18-21
Total assets
€71k
+66.5% 18-21
Equity
€48k
+2120.6% 18-21
Working capital
€48k
+2334.6% 18-21
Employees (FTE)
3
+21.7% 18-21
Staff costs
€21k
- 18-21
Income taxes
€7
-99.5% 18-21
Debt
€23k
-43.4% 18-21
Debt ≤ 1y
€23k
-43.4% 18-21
Current ratio
3.09
+194.9% 18-21
Quick ratio
2.97
+225.7% 18-21
Solvency
67.8%
+1234.0% 18-21
Debt / equity
0.48
- 18-21
ROE
95.5%
- 18-21
ROA
64.7%
- 18-21
Net margin
17.0%
- 18-21
EBITDA margin
-6.1%
- 18-21
Figures by fiscal year
Fiscal year2021
Depositmicro
Revenue€272k
EBITDA-
Net profit€46k
Cash flow-
Staff costs€21k
Income taxes€7
Dividends-
Total assets€71k
Equity€48k
Debt€23k
of which ≤ 1y€23k
of which > 1y-
Working capital€48k
Employees (FTE)2.8
Ratios (computed)
2021
Current ratio3.09
Quick ratio2.97
Working capital ratio67.5%
Solvency67.8%
Debt / equity0.48
Long-term debt ratio-
Interest coverage-
Gross margin25.9%
Net margin17.0%
ROA64.7%
ROE95.5%
EBITDA margin-
Days sales outstanding48d
Days payable outstanding11d
Inventory turnover74.48
Days inventory (DSI)5d
Balance-sheet composition 2021
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2021
Balance sheet, Assets
TOTAL ASSETS 20/58€71k
Fixed assets 21/28€200
Financial fixed assets 28€200
Current assets 29/58€71k
Stocks & contracts in progress 3€3k
Amounts receivable within one year 40/41€36k
Cash & bank 54/58€33k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€71k
Equity 10/15€48k
Contributions / capital 10/11€6k
Reserves 13€5k
Accumulated profits (losses) 14€38k
Amounts payable 17/49€23k
Amounts payable within one year 42/48€23k
Trade debts payable within one year 44€6k
Income statement
Turnover 70€272k
Gross operating margin 9900€71k
Operating result 9901€48k
Financial income 75€2k
Financial charges 65€3k
Result before taxes 9903€46k
Income taxes 67/77€7
Net result for the period 9904€46k
Result to be appropriated 9905€46k
This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 2 directors
Current directors & mandates
  • El Seidy Walid
    Director
    State Gazette act 23019267 (08-02-2023)
    Current
    30-09-2022 → present
Former directors (1)
  • Mahmoud Samy Mohamed E
    Director
    State Gazette act 23019267 (08-02-2023)
    Former
    - → 30-09-2022
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Directors & mandates1 person
Role Name Tenure Source
Curator LOUIS WOUTERS
JAN VAN RIJSWIJCKLAAN 1-3, 2018 ANTWERPEN 1
 02-11-2023 → present Belgian State Gazette
Legal Structure
NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation01-06-2012
StatusActive
Postal code-
First BS signal 08-11-2023
Latest BS signal 08-11-2023
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11809I2091/00E007 Flanders 990 m² 1 · 496 m² 24.1 m · 7 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 15 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023
08-12-2023
KBO administration Address struck
08-11-2023
Bankruptcy Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · ELSAM BV WILLEM EEKELERS- STRAAT 49 B.4, 2020 ANTWERPEN 2 · event 02-11-2023
07-06-2023
State Gazette act Capital & shares
08-02-2023
State Gazette act Capital & shares
2022
22-11-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
23-05-2022
State Gazette act Capital & shares
2021
31-12-2021
NBB filing Annual accounts filed
fiscal year 2020 · micro
2020
25-12-2020
NBB filing Annual accounts filed
fiscal year 2019 · micro
2019
02-07-2019
NBB filing Annual accounts filed
fiscal year 2018 · micro
2018
31-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · micro
2017
11-08-2017
NBB filing Annual accounts filed
fiscal year 2016 · micro
2016
30-09-2016
NBB filing Annual accounts filed
fiscal year 2015 · verkort
2015
27-08-2015
NBB filing Annual accounts filed
fiscal year 2014 · verkort
2014
23-06-2014
NBB filing Annual accounts filed
fiscal year 2013 · verkort
Lifecycle & Insolvency Signals2 events
08-12-2023
KBO administration Address struck
 · Publications in State Gazette ↗
Full insolvency chronology

The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.

We hold 1 further earlier event in this file, covering 02-11-2023 to 08-12-2023.

Available in Kantoor S. See plans →
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262023-11-08 · Bankruptcy · Opening2023-12-08 · KBO administration · Address struck
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad, acts 3 acts
Capital history · 3
07-06-2023
Capital change
08-02-2023
Capital change
23-05-2022
Capital change
All acts · 3 updated 3 years ago
2023
07-06-2023 All shares are now held by a single shareholder Capital & shares
Technical details 
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          "name": "DE HEER EL SEIDY WALID MOHAMED ALI",
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          "name": "DE HEER EL FARISSI SAID",
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  "notary": {
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  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2023-05-25",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_bijzondere_vergadering",
    "act_date": "2023-05-25",
    "unanimous": null,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2023-03-17"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0846.310.251",
    "name_full": "ELSAM",
    "legal_form": "B.V.",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
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  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": 100.0,
      "kind": "person",
      "name": "DE HEER EL FARISSI SAID",
      "role": "aandeelhouder",
      "n_shares": 100,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
08-02-2023 Transaction in capital or shares Capital & shares
Technical details 
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      "kind": "share_transfer",
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      "delta_eur": null,
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      "subscribers": [
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          "kind": "person",
          "name": "Mahmoud Samy Mohamed E",
          "share_class": null,
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        {
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          "name": "Mohamed Mohamed Mahmoud M",
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          "contribution_amount_eur": null
        },
        {
          "kbo": null,
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          "kind": "person",
          "name": "Abdeldayem Mohamed Ali M",
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      ],
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    },
    {
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      "subscribers": [
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          "name": "Mahmoud Samy Mohamed E",
          "share_class": null,
          "liberation_pct": null,
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        },
        {
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        },
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Mohamed Mohamed Mahmoud M",
          "share_class": null,
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          "contribution_amount_eur": null
        },
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Abdeldayem Mohamed Ali M",
          "share_class": null,
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          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
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      "not_yet_called_eur": null,
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      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
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    "pub_date": "2023-02-08",
    "filing_date": "2023-01-26",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2023-01-26",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2022-09-30"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0846.310.251",
    "name_full": "ELSAM",
    "legal_form": "Besloten Vennootschap",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
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  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": 50.0,
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      "name": "El Seidy Walid",
      "role": "aandeelhouder",
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    },
    {
      "kbo": null,
      "pct": 50.0,
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      "name": "Abdeldayem Mohamed Ali M",
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      "share_class": null
    }
  ],
  "share_classes_after": []
}
2022
23-05-2022 Restructuring of share classes Capital & shares
Technical details 
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    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
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      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Khaleel Ahmed Abdulrazzaq",
          "share_class": null,
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          "contribution_kind": null,
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        }
      ],
      "share_emission": {
        "agio_eur": null,
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        "n_new_shares": 100,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
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      "not_yet_called_eur": null,
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      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Antwerpen",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2022-05-23",
    "filing_date": "2022-05-10",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2022-05-10",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2022-04-01"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0846.310.251",
    "name_full": "ELSAM",
    "legal_form": "B.V.",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
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    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Mahmoud Samy Mohamed E",
      "role": "aandeelhouder",
      "n_shares": 90,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "El Seidy Walid",
      "role": "aandeelhouder",
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      "share_class": null
    }
  ],
  "share_classes_after": []
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameNL ELSAM
Registration history
  1. 08-12-2023 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative