ELSOEDE

Foreign entityfounded 201412 yrs activeAVENUE VICTOR HUGO 62, 1750 LUXEMBOURG, LuxembourgKBO/BCE: BE 0550.650.588

Summary

For the legal form of ELSOEDE, Checked does not compute a bankruptcy probability. The 2016 annual accounts show equity of €8.7m and a net result of €2.1m. Equity is growing by ~16.3% per year across the filed fiscal years. The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysis Watch Report Compare

ELSOEDEActive

Risk analysis Report Compare

Checked score

No current score

Figures too old

The available figures for FY 2016 are too old to assess current financial health.

Filing: Five or more filing cycles are missing. This points to a standstill, not an imminent failure.

Axes, FY 2016 · tick = 2015

Profitability87▲+48

Solvency100=

Growth78▲+26

Track record100

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Signals

Two signals. The signal on the left, the evidence on the right.

○neutral

No filing for years

The last filed financial year closed on 31-12-2016. Since then, 9 financial years are missing. This points to a standstill, not an imminent failure.

NBB · 3 filings

Position against the passed deadline

31-12-2017 close31-07-2018 deadline28-09-2026 today

Filed after the deadline

The financial year that closed on 31-12-2016 was due by 31-07-2017 and was filed on 09-08-2017, 9 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 3 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

not filed

2021

not filed

2020

not filed

2019

not filed

← before the deadline after the deadline →

tick = median of all Belgian filings

The Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 15 April 2014, ELSOEDE was incorporated.¹ Total assets went from EUR 7.7 million in 2014 to EUR 11 million in 2016.²

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Financials · fiscal year 2016, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€2.1m▲ 3,156%

2015 · €64,466

Working capital

€2.6m

2015 · -€212,496

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before

favourable unfavourable

Line201420152016

Operating result-€84,860--€64,610▲ 23.9%-€33,341▲ 48.4%

Net result€1.2m-€64,466▼ 94.4%€2.1m▲ 3,156%

Equity€6.6m-€6.6m▲ 1.0%€8.7m▲ 31.6%

Total assets€7.7m-€8.4m▲ 8.2%€10.5m▲ 26.1%

Debt€1.1m-€1.7m▲ 49.7%€1.8m▲ 4.6%

Working capital€1.5m--€212,496€2.6m

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €33,341 in 2016 against €64,610 in 2015; the loss shrinks.

Balance-sheet composition

2016 in colour, 2015 as the grey bar beneath

Assets €10.5m

67.2%

32.8%

Fixed assets €7.1m ▼ 9.0%

Current assets €3.5m ▲ 500%

Equity and liabilities €10.5m

83.0%

17.0%

Equity €8.7m ▲ 31.6%

Debt €1.8m ▲ 4.6%

Debt's share of the balance-sheet total falls from 20.5% to 17.0%. Equity and debt are higher.

Key figures and ratios

2016 value · change against 2015

Current ratio

4.14▲

2015 · 0.73

Debt to equity

0.10▼

2015 · 0.13

ROE

24.0%▲

2015 · 1.0%

ROA

19.9%▲

2015 · 0.8%

Debt ≤ 1 year

€834,939▲

2015 · €788,713

Debt > 1 year

€868,038=

2015 · €868,038

Income taxes

€70,146▲

2015 · €26,143

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2016 against 2015 · 24 lines

Balance sheet Code20152016

Assets

Total assets20/58€8.4m€10.5m▲

Fixed assets21/28€7.8m€7.1m▼

Financial fixed assets28€7.8m€7.1m▼

Current assets29/58€576,217€3.5m▲

Amounts receivable within one year40/41€80€851,918▲

Cash at bank and in hand54/58€385,225€2.3m▲

Equity and liabilities

Total equity and liabilities10/49€8.4m€10.5m▲

Equity10/15€6.6m€8.7m▲

Contributions10/11€5.4m€5.4m=

Reserves13€541,860€541,860=

Profit (loss) carried forward14€677,433€2.8m▲

Amounts payable17/49€1.7m€1.8m▲

Amounts payable after more than one year17€868,038€868,038=

Amounts payable within one year42/48€788,713€834,939▲

Trade debts44€154€4,544▲

Income statement Code20152016

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,103-

Gross operating margin9900-€59,071-€32,473▲

Operating profit (loss)9901-€64,610-€33,341▲

Recurring financial income75€213,208€2.3m▲

Recurring financial charges65€57,988€48,209▼

Profit (loss) for the period before taxes9903€90,609€2.2m▲

Income taxes67/77€26,143€70,146▲

Profit (loss) for the period9904€64,466€2.1m▲

Profit (loss) for the period to be appropriated9905€64,466€2.1m▲

Line	2014	2015	2016	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€10,205	€5,103	-	-
Gross operating margin9900	-€74,292	-€59,071	-€32,473	▲ 45.0%
Operating profit (loss)9901	-€84,860	-€64,610	-€33,341	▲ 48.4%
Recurring financial income75	€1.3m	€213,208	€2.3m	▲ 956%
Recurring financial charges65	€21,037	€57,988	€48,209	▼ 16.9%
Profit (loss) for the period before taxes9903	€1.2m	€90,609	€2.2m	▲ 2,294%
Income taxes67/77	-	€26,143	€70,146	▲ 168%
Profit (loss) for the period9904	€1.2m	€64,466	€2.1m	▲ 3,156%
Profit (loss) for the period to be appropriated9905	€1.2m	€64,466	€2.1m	▲ 3,156%

Line	2014	2015	2016	Change
Assets
Total assets20/58	€7.7m	€8.4m	€10.5m	▲ 26.1%
Formation expenses20	€5,103	-	-	-
Fixed assets21/28	€6.0m	€7.8m	€7.1m	▼ 9.0%
Financial fixed assets28	€6.0m	€7.8m	€7.1m	▼ 9.0%
Current assets29/58	€1.7m	€576,217	€3.5m	▲ 500%
Amounts receivable within one year40/41	€200,545	€80	€851,918	▲ 1,064,664%
Current investments50/53	€1.5m	-	-	-
Cash at bank and in hand54/58	€82,010	€385,225	€2.3m	▲ 506%
Equity and liabilities
Total equity and liabilities10/49	€7.7m	€8.4m	€10.5m	▲ 26.1%
Equity10/15	€6.6m	€6.6m	€8.7m	▲ 31.6%
Contributions10/11	€5.4m	€5.4m	€5.4m	=
Reserves13	-	€541,860	€541,860	=
Profit (loss) carried forward14	€1.2m	€677,433	€2.8m	▲ 310%
Amounts payable17/49	€1.1m	€1.7m	€1.8m	▲ 4.6%
Amounts payable after more than one year17	€868,038	€868,038	€868,038	=
Amounts payable within one year42/48	€253,792	€788,713	€834,939	▲ 5.9%
Trade debts44	€6,189	€154	€4,544	▲ 2,858%

Line	2014	2015	2016	Change
Profit (loss) for the period9904	€1.2m	€64,466	€2.1m	▲ 3,156%
+ Depreciation and write-downs630	€10,205	€5,103	-	-
Operating cash flow (approximation)	€1.2m	€69,569	€2.1m	▲ 2,917%
Investment in fixed assets (approximation)	-	-€1.8m	€702,851	▲ 139%
Change in cash	-	€303,215	€1.9m	▲ 543%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

All 6Financial 3Filings 3

2017

09-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 9 days late

2016

31-12

Financial Highest result since 2014net €2.1m ▲3,156%

Operating result -€33,341, net result €2.1m, both a record.

31-12

Financial Liquidity times 6current ratio 4.14

Current ratio from 0.73 to 4.14.

29-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

2015

31-12

Financial Weakest financial yearnet €64,466 ▼94.4%

Net result drops to €64,466, the lowest in the series; recovery starts the following year.

19-08

NBB filing Annual accounts filed

fiscal year 2014 · full schema · 19 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 3 acts read

About the unread acts

We know of 3 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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Identification & contact

Identification

Legal formForeign entity

Founded15-04-2014

Fiscal year end31-12

E-invoicing

Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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