ELSYS ENGINEERING
ActiveSummary
ELSYS ENGINEERING has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,126 and a net result of €21,969. Equity is growing by ~39.1% per year across the filed fiscal years. Its solvency ranks better than 89% of 7564 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+15
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
cash: 43.3% of total assets, and 17.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
82.3%
Return on assets
21.2%
Age of the figures
15 mo
neutral · A punctual record breaks
This company filed 7 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-02-2026, 24 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
23 d early
2023
34 d early
2022
26 d early
2021
39 d early
2020
32 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€174,312
EBIT margin
-0.3%
Net result
€21,969▲ 67.0%
2024 · €13,158
Working capital
€5,017
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
Line20212022202320242025
Turnover€174,312
Operating result-€605€23,864€16,296▼ 31.7%€13,158▼ 19.3%€21,969▲ 67.0%
Net result-€605€23,864€16,296▼ 31.7%€13,158▼ 19.3%€21,969▲ 67.0%
EBIT margin-0.3%
Equity€9,839▼ 5.8%€33,703▲ 243%€49,999▲ 48.4%€63,157▲ 26.3%€85,126▲ 34.8%
Total assets€71,767▲ 42.0%€65,518▼ 8.7%€73,984▲ 12.9%€84,584▲ 14.3%€103,491▲ 22.4%
Debt€61,929▲ 54.5%€31,815▼ 48.6%€23,985▼ 24.6%€21,427▼ 10.7%€18,365▼ 14.3%
Working capital
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 67% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €103,491
Fixed assets
€3,669 =
Current assets
€99,822 ▲ 23.4%
Equity and liabilities €103,491
Equity
€85,126 ▲ 34.8%
Debt
€18,365 ▼ 14.3%
Debt's share of the balance-sheet total falls from 25.3% to 17.7%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.22▼
2024 · 0.34
ROE
25.8%▲
2024 · 20.8%
ROA
21.2%▲
2024 · 15.6%
Debt > 1 year
€18,365▼
2024 · €21,427
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,324 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €174,312 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €89,211 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2,500 | €2,500 | - | - | - |
| Other operating charges640/8 | - | €47,091 | €61,915 | €72,595 | €67,243 | ▼ 7.4% |
| Gross operating margin9900 | €61,698 | €73,455 | €80,711 | €85,754 | €89,211 | ▲ 4.0% |
| Operating profit (loss)9901 | -€605 | €23,864 | €16,296 | €13,158 | €21,969 | ▲ 67.0% |
| Profit (loss) for the period before taxes9903 | -€605 | €23,864 | €16,296 | €13,158 | €21,969 | ▲ 67.0% |
| Profit (loss) for the period9904 | -€605 | €23,864 | €16,296 | €13,158 | €21,969 | ▲ 67.0% |
| Profit (loss) for the period to be appropriated9905 | -€605 | €23,864 | €16,296 | €13,158 | €21,969 | ▲ 67.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €71,767 | €65,518 | €73,984 | €84,584 | €103,491 | ▲ 22.4% |
| Fixed assets21/28 | €3,669 | €6,169 | €3,669 | €3,669 | €3,669 | = |
| Tangible fixed assets22/27 | €3,669 | €6,169 | €3,669 | €3,669 | €3,669 | = |
| Land and buildings22 | - | €3,669 | €3,669 | €3,669 | €3,669 | = |
| Furniture and vehicles24 | - | €2,500 | - | - | - | - |
| Current assets29/58 | €68,098 | €59,349 | €70,315 | €80,915 | €99,822 | ▲ 23.4% |
| Amounts receivable after more than one year29 | - | €51,924 | €52,579 | €60,235 | €54,989 | ▼ 8.7% |
| Trade receivables290 | - | €48,805 | €50,487 | €58,539 | €49,420 | ▼ 15.6% |
| Other amounts receivable291 | - | €3,119 | €2,092 | €1,696 | €5,568 | ▲ 228% |
| Cash at bank and in hand54/58 | €7,626 | €7,426 | €17,736 | €20,680 | €44,833 | ▲ 117% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €71,767 | €65,518 | €73,984 | €84,584 | €103,491 | ▲ 22.4% |
| Equity10/15 | €9,839 | €33,703 | €49,999 | €63,157 | €85,126 | ▲ 34.8% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | - | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Issued capital100 | - | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Reserves13 | €4,562 | €4,562 | €4,562 | €4,562 | €4,562 | = |
| Non-distributable reserves130/1 | - | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Legal reserve130 | - | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Distributable reserves133 | - | €1,463 | €1,463 | €1,463 | €1,463 | = |
| Profit (loss) carried forward14 | -€25,710 | -€1,846 | €14,450 | €27,608 | €49,577 | ▲ 79.6% |
| Amounts payable17/49 | €61,929 | €31,815 | €23,985 | €21,427 | €18,365 | ▼ 14.3% |
| Amounts payable after more than one year17 | €55,929 | €31,815 | €23,985 | €21,427 | €18,365 | ▼ 14.3% |
| Trade debts175 | - | €31,815 | €23,985 | €21,427 | €18,365 | ▼ 14.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€605 | €23,864 | €16,296 | €13,158 | €21,969 | ▲ 67.0% |
| + Depreciation and write-downs630 | - | €2,500 | €2,500 | - | - | - |
| Operating cash flow (approximation) | -€605 | €26,364 | €18,796 | €13,158 | €21,969 | ▲ 67.0% |
| Investment in fixed assets (approximation) | - | -€5,000 | €0 | €0 | €0 | - |
| Change in cash | - | -€200 | €10,311 | €2,943 | €24,153 | ▲ 721% |
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
24-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
08-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
05-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €23,864
Net result €23,864 after one loss-making year.
2021
23-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Back to profitnet €408
Net result €408 after one loss-making year.
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
28-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
26-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 26 days late
2017
06-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Kortrijk · 1 establishment unit since 1987
Ground area
110 m²
Building footprint
302 m²
Volume, LiDAR
2,239 m³
Parcel 34007A0342/00F011, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ELSYS ENGINEERING NV
since 19872.033.318.057
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34007A0342/00F011 | Flanders | 110 m² | 1 · 302 m² | 8.7 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 134 EUR awarded · 133 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 40 EUR |
| 2023 | 1 | 134 EUR | 93 EUR |
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 13,173 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
Founded13-02-1987
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
25530Machining of metals
28250Manufacture of machinery and equipment not elsewhere classified
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47721Retail sale of footwear
56210Event catering
96220Beauty care and other beauty treatments
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430473924
Also
9925:BE0430473924
Registered
10-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.