ELSWARE
ActiveSummary
ELSWARE has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,600 and a net result of €25,166. Equity is shrinking by about 31% per year across the filed financial years. Its solvency ranks better than 19% of 21,120 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- €18,600
- Profit
- €25,166
Why 83raises riskLiquidity: current ratio 1.19lowers riskSize: total assets €111,041Sector: Computer programming, consultancy and related activities (NACE 62)Founded in 2015Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro): better than 20% on solvency, 4% on liquidity, 44% on profitability and 20% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 20 days before the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Highest result from 2019 to 2025net €28,079 ▲68.9%
Financials · financial year 2025, micro format
Source amounts without an identifiable currency are assumed to be EUR.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,053 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,530 | €18,060 | €17,244 | €18,082 | €18,571 | €18,435 | €8,848 | ▼ 52.0% |
| Other operating charges640/8 | - | - | €991 | €520 | €1,028 | €3,579 | €2,992 | ▼ 16.4% |
| Non-recurring operating charges66A | - | - | €417 | €217 | €0 | - | - | - |
| Gross operating margin9900 | €33,651 | €19,237 | €13,597 | €26,106 | €41,918 | €59,371 | €50,310 | ▼ 15.3% |
| Operating profit (loss)9901 | €13,900 | -€50 | -€5,055 | €7,288 | €22,318 | €37,357 | €38,470 | ▲ 3.0% |
| Financial income75/76B | - | - | €1,491 | €1,123 | €2,476 | €6,446 | €6,399 | ▼ 0.7% |
| Recurring financial income75 | €0 | €535 | €1,491 | €1,123 | €2,476 | €6,446 | €6,399 | ▼ 0.7% |
| Financial charges65/66B | - | - | €563 | €490 | €2,112 | €5,925 | €11,005 | ▲ 85.7% |
| Recurring financial charges65 | €598 | €601 | €563 | €490 | €2,112 | €5,925 | €11,005 | ▲ 85.7% |
| Profit (loss) for the period before taxes9903 | €13,302 | -€116 | -€4,127 | €7,921 | €22,683 | €37,877 | €33,864 | ▼ 10.6% |
| Income taxes67/77 | €4,972 | €1,276 | €1,404 | €3,130 | €6,054 | €9,799 | €8,698 | ▼ 11.2% |
| Profit (loss) for the period9904 | €8,330 | -€1,392 | -€5,531 | €4,791 | €16,629 | €28,079 | €25,166 | ▼ 10.4% |
| Profit (loss) for the period to be appropriated9905 | €8,330 | -€1,392 | -€5,531 | €4,791 | €16,629 | €28,079 | €25,166 | ▼ 10.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €154,550 | €154,150 | €144,659 | €100,694 | €141,088 | €142,615 | €111,041 | ▼ 22.1% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €94,420 | €76,360 | €59,607 | €47,044 | €28,473 | €10,038 | €1,190 | ▼ 88.1% |
| Intangible fixed assets21 | €92,617 | €75,617 | €58,617 | €41,617 | €24,617 | €7,617 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €1,803 | €743 | €990 | €5,427 | €3,856 | €2,421 | €1,190 | ▼ 50.9% |
| Furniture and vehicles24 | - | - | €990 | €5,427 | €3,856 | €2,421 | €1,190 | ▼ 50.9% |
| Financial fixed assets28 | €0 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €60,130 | €77,790 | €85,051 | €53,650 | €112,615 | €132,577 | €109,851 | ▼ 17.1% |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €54,246 | €62,605 | €43,133 | €21,205 | €111,908 | €132,036 | €109,295 | ▼ 17.2% |
| Trade receivables40 | - | - | €17,545 | €16,335 | €8,440 | €19,058 | €12,033 | ▼ 36.9% |
| Other amounts receivable41 | - | - | €25,588 | €4,870 | €103,468 | €112,978 | €97,261 | ▼ 13.9% |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €5,137 | €4,787 | €41,227 | €31,762 | €0 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €691 | €683 | €707 | €541 | €556 | ▲ 2.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €154,550 | €154,150 | €144,659 | €100,694 | €141,088 | €142,615 | €111,041 | ▼ 22.1% |
| Equity10/15 | €135,142 | €133,750 | €128,219 | €91,044 | €51,468 | €26,930 | €18,600 | ▼ 30.9% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €116,542 | €116,542 | €116,542 | €74,575 | €32,868 | €8,330 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | €2,209 | €2,209 | €2,209 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | €2,209 | €2,209 | €2,209 | €0 | - | - |
| Distributable reserves133 | - | - | €114,333 | €72,367 | €30,660 | €8,330 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €0 | -€1,392 | -€6,922 | -€2,132 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €19,408 | €20,400 | €16,439 | €9,651 | €89,620 | €115,685 | €92,441 | ▼ 20.1% |
| Amounts payable within one year42/48 | €18,039 | €18,775 | €15,635 | €9,206 | €89,620 | €115,685 | €92,441 | ▼ 20.1% |
| Financial debts43 | - | - | €5,845 | €2,006 | €13,614 | €21,945 | €33,062 | ▲ 50.7% |
| Credit institutions430/8 | - | - | €5,845 | €2,006 | €13,614 | €21,945 | €33,062 | ▲ 50.7% |
| Trade debts44 | €522 | €8,668 | €1,170 | €147 | €799 | €2,046 | €353 | ▼ 82.8% |
| Suppliers440/4 | - | - | €1,170 | €147 | €799 | €2,046 | €353 | ▼ 82.8% |
| Taxes, remuneration and social security45 | - | - | €8,620 | €7,046 | €23,263 | €44,515 | €29,721 | ▼ 33.2% |
| Taxes450/3 | - | - | €8,620 | €7,046 | €23,263 | €44,515 | €29,721 | ▼ 33.2% |
| Other amounts payable47/48 | - | - | - | €7 | €51,944 | €47,179 | €29,304 | ▼ 37.9% |
| Accrued charges and deferred income492/3 | - | - | €804 | €444 | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,330 | -€1,392 | -€5,531 | €4,791 | €16,629 | €28,079 | €25,166 | ▼ 10.4% |
| + Depreciation and write-downs630 | €18,530 | €18,060 | €17,244 | €18,082 | €18,571 | €18,435 | €8,848 | ▼ 52.0% |
| Operating cash flow (approximation) | €26,859 | €16,668 | €11,714 | €22,872 | €35,200 | €46,514 | €34,014 | ▼ 26.9% |
| Investment in fixed assets (approximation) | - | €0 | -€491 | -€5,518 | €0 | €0 | €0 | - |
| Change in cash | - | -€350 | €36,440 | -€9,465 | -€31,762 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 30-03-2026 | 2026-00070436 |
| 30-09-2024 | micro format | 18-04-2025 | 2025-00073941 |
| 30-09-2023 | micro format | 02-04-2024 | 2024-00057476 |
| 30-09-2022 | micro format | 18-04-2023 | 2023-00061405 |
| 30-09-2021 | micro format | 05-04-2022 | 2022-20001042 |
| 30-09-2020 | micro format | 21-04-2021 | 2021-10800383 |
| 30-09-2019 | micro format | 07-04-2020 | 2020-08700365 |
| 30-09-2018 | micro format | 12-04-2019 | 2019-09900524 |
| 30-09-2017 | abbreviated format | 25-04-2018 | 2018-10600203 |
| 30-09-2016 | abbreviated format | 27-04-2017 | 2017-10300150 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Els Van De Velde |
|
Owners and capital
Capital and shareholders
- 21-05-2024 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
21-05
Gazette deed
Resignation: Els Van De Velde (director)Reappointment: Els Van De Velde (director) · Amendment of the articles · Capital conversion10 facts ▸
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, onmiddellijk” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Capital
- Power of attorney, Heleen Deconinck
- Director resignation, Els Van De Velde (director)
- Director reappointment, Els Van De Velde (director (not named in the articles))
- Director discharge, Els Van De Velde
- Power of attorney, Baker Tilly Belgium Accountants & Belastingconsulenten CVBA (2 times)
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41302C1523/00T003 | Flanders | 1,649 m² | 1 · 606 m² | 4.9 m · 1 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “ICTconsultancy en het aanbieden van ICT-oplossingen, gebaseerd op softwareontwikkeling, hardwareontwikkeling, internetontwikkeling…” (deed in Dutch)
18 activities (deed in Dutch)
- ICTconsultancy en het aanbieden van ICT-oplossingen, gebaseerd op softwareontwikkeling, hardwareontwikkeling, internetontwikkeling, netwerkinstallaties, desktoppublishing, webhosting, dedicated server hosting en andere, randapparatuur en toebehoren, alsook expertises in dit verband ten behoeve van zowel de overheids- als de privésector
- Consultancy m.b.t. Human Resource Management (HRMbeleid)
- Het verstrekken van advies en oplossingen aan overheid en bedrijven in verband met bedrijfsbeheer, bedrijfsorganisatie en administratie, projectmanagement en kwaliteitsbeheer van projecten
- De ontwikkeling van computersoftware
- De groot & detailhandel in, import en export, huur en verhuur van hard- en software van computers, onderhoud en dienstverlening terzake
- De aankoop, verkoop, import en export, huur en verhuur van allerhande telecommunicatieapparatuur, andere installaties en materialen in de meest ruime zin
- Videoediting
- De verrichtingen van een servicebureau aangaande informaticatoepassingen
- Het publiceren van artikels en het inrichten van alle cursussen, lessencycli, bijscholing, onderwijs, demonstraties en studiedagen met betrekking tot de informatica in het algemeen
- Het verstrekken van advies en consulting in verband met informatica & telecommunicatietoepassingen en management- en consultingactiviteiten in het algemeen
- Het begeleiden van de administratie, informatica, organisatie en management van ondernemingen
- Het verlenen van bijstand, advies en leiding aan bedrijven, privépersonen en instellingen voornamelijk doch niet uitsluitend, op het vlak van management, marketing, productie en ontwikkeling, processing, informatica en het besturen van vennootschappen, dit alles in de meest ruime betekenis
- Het vervullen van de functie van tussenpersonen en het verwerven van commissies en vergoedingen terzake in de meest ruime zin
- Het participeren in ondernemingen, opnemen van mandaten als zaakvoerder, bestuurder of vereffenaar in andere ondernemingen
- Het investeren in, aankopen en verkopen, ruilen, huren en verhuren zowel voor eigen rekening als voor rekening van derden, van onroerende goederen of gedeelten ervan voor industriële, bureel-, recreatie-, bedrijfs-, of privédoeleinden en het verkrijgen en verstrekken van zakelijke rechten terzake, met uitsluiting van de activiteiten waarvoor een bijzondere erkenning is vereist, indien deze erkenning niet is verkregen
- Patrimoniumbeheer, aankoop, verkoop, huur of verhuur, huurfinanciering, bouwen, doen bouwen, onderhouden, verkavelen, prospecteren en uitbaten, terbeschikkingstelling van allerhande apparaten, installaties en materialen in de meest ruime zin
- Alle roerende en onroerende, industriële, commerciële of financiële verrichtingen doorvoeren in verband staan met haar voorwerp en alle handelingen stellen die rechtstreeks of onrechtstreeks de verwezenlijking ervan kunnen bevorderen
- Het verwerven door inschrijving of aankoop en het beheren van aandelen, obligaties, kasbons of andere roerende waarden, van welke vorm ook, van Belgische of buitenlandse, bestaande of nog op te richten vennootschappen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ELSWARE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, oprichten of opheffen administratieve zetels,agentschappen,ateliers,opslagplaatsen,bijhuizen in België en buitenland bij…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, één of meer bestuurders,natuurlijke personen of rechtspersonen,al dan niet aandeelhouder” (deed in Dutch)