ELTEE CONSTRUCT
ActiveSummary
ELTEE CONSTRUCT has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €115,607 and a net result of €9,153. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 69% of 36377 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability75▼-1
Solvency89=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 3.59 against 4.47 in 2023; short-term debt: 21.5% and cash: 19.1% of total assets), and 36.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 31-12-2024 was due by 31-07-2025 and was filed on 13-06-2025, 48 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
48 d early
2023
54 d early
2022
41 d early
2021
50 d early
2020
28 d early
2019
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 43 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€115,607▼ 4.4%
2023 · €120,953
Total assets
€181,912▼ 3.6%
2023 · €188,733
Net result
€9,153▼ 17.3%
2023 · €11,073
Working capital
€101,388▲ 0.2%
2023 · €101,205
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
Line20202021202220232024
Operating result€4,993▼ 70.3%€20,494▲ 310%€27,091▲ 32.2%€14,061▼ 48.1%€15,536▲ 10.5%
Net result€3,711▼ 74.4%€14,760▲ 298%€22,454▲ 52.1%€11,073▼ 50.7%€9,153▼ 17.3%
Equity€72,666▲ 5.4%€87,426▲ 20.3%€109,879▲ 25.7%€120,953▲ 10.1%€115,607▼ 4.4%
Total assets€119,042▲ 35.5%€115,358▼ 3.1%€144,025▲ 24.9%€188,733▲ 31.0%€181,912▼ 3.6%
Debt€46,377▲ 145%€27,932▼ 39.8%€34,146▲ 22.2%€67,780▲ 98.5%€66,306▼ 2.2%
Working capital€50,515▼ 6.3%€69,503▲ 37.6%€91,474▲ 31.6%€101,205▲ 10.6%€101,388▲ 0.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 10% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €181,912
Fixed assets
€41,369 ▼ 29.1%
Current assets
€140,544 ▲ 7.8%
Equity and liabilities €181,912
Equity
€115,607 ▼ 4.4%
Debt
€66,306 ▼ 2.2%
Debt's share of the balance-sheet total rises from 35.9% to 36.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33,890▲
2023 · €29,028
Cash flow
€27,506▲
2023 · €26,040
Current ratio
3.59▼
2023 · 4.47
Quick ratio
2.33▼
2023 · 3.13
Debt to equity
0.57▲
2023 · 0.56
ROE
7.9%▼
2023 · 9.2%
ROA
5.0%▼
2023 · 5.9%
Interest coverage
11.31▼
2023 · 19.72
Debt ≤ 1 year
€39,156▲
2023 · €29,142
Debt > 1 year
€27,150▼
2023 · €38,639
Income taxes
€4,371▲
2023 · €2,126
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,412 | €12,923 | €10,165 | €14,966 | €18,353 | ▲ 22.6% |
| Other operating charges640/8 | - | €485 | €702 | €5,415 | €982 | ▼ 81.9% |
| Gross operating margin9900 | €15,302 | €33,902 | €37,958 | €34,443 | €34,872 | ▲ 1.2% |
| Operating profit (loss)9901 | €4,993 | €20,494 | €27,091 | €14,061 | €15,536 | ▲ 10.5% |
| Financial income75/76B | - | €207 | €195 | €610 | €985 | ▲ 61.6% |
| Recurring financial income75 | €674 | €207 | €195 | €610 | €985 | ▲ 61.6% |
| Financial charges65/66B | - | €4,465 | €2,587 | €1,472 | €2,997 | ▲ 104% |
| Recurring financial charges65 | €1,585 | €2,897 | €1,061 | €1,472 | €2,997 | ▲ 104% |
| Non-recurring financial charges66B | - | €1,569 | €1,526 | - | - | - |
| Profit (loss) for the period before taxes9903 | €4,082 | €16,236 | €24,699 | €13,199 | €13,524 | ▲ 2.5% |
| Income taxes67/77 | €371 | €1,476 | €2,245 | €2,126 | €4,371 | ▲ 106% |
| Profit (loss) for the period9904 | €3,711 | €14,760 | €22,454 | €11,073 | €9,153 | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €3,711 | €14,760 | €22,454 | €11,073 | €9,153 | ▼ 17.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,042 | €115,358 | €144,025 | €188,733 | €181,912 | ▼ 3.6% |
| Fixed assets21/28 | €44,156 | €33,788 | €28,015 | €58,387 | €41,369 | ▼ 29.1% |
| Intangible fixed assets21 | €2,108 | €520 | €390 | €260 | €130 | ▼ 50.0% |
| Tangible fixed assets22/27 | €40,825 | €32,046 | €26,402 | €56,904 | €40,016 | ▼ 29.7% |
| Land and buildings22 | - | €2,249 | €1,937 | €1,625 | €1,313 | ▼ 19.2% |
| Plant, machinery and equipment23 | - | €26,401 | €22,130 | €14,661 | €6,433 | ▼ 56.1% |
| Furniture and vehicles24 | - | €3,396 | €2,335 | €2,413 | €2,615 | ▲ 8.4% |
| Leasing and similar rights25 | - | - | - | €38,206 | €29,656 | ▼ 22.4% |
| Financial fixed assets28 | €1,223 | €1,223 | €1,223 | €1,223 | €1,223 | = |
| Current assets29/58 | €74,886 | €81,570 | €116,010 | €130,346 | €140,544 | ▲ 7.8% |
| Stocks and contracts in progress3 | €4,349 | €32,682 | €46,830 | €39,200 | €49,302 | ▲ 25.8% |
| Stocks30/36 | - | €4,223 | €12,679 | €10,004 | €10,374 | ▲ 3.7% |
| Contracts in progress37 | - | €28,459 | €34,151 | €29,196 | €38,928 | ▲ 33.3% |
| Amounts receivable within one year40/41 | €19,593 | €19,991 | €45,631 | €75,198 | €56,427 | ▼ 25.0% |
| Trade receivables40 | - | €16,080 | €44,895 | €59,569 | €27,715 | ▼ 53.5% |
| Other amounts receivable41 | - | €3,911 | €735 | €15,629 | €28,712 | ▲ 83.7% |
| Cash at bank and in hand54/58 | €28,192 | €27,389 | €21,982 | €15,329 | €34,815 | ▲ 127% |
| Deferred charges and accrued income490/1 | - | €1,509 | €1,567 | €620 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,042 | €115,358 | €144,025 | €188,733 | €181,912 | ▼ 3.6% |
| Equity10/15 | €72,666 | €87,426 | €109,879 | €120,953 | €115,607 | ▼ 4.4% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €54,074 | €68,834 | €91,287 | €102,361 | €97,015 | ▼ 5.2% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | - | - |
| Distributable reserves133 | - | €66,974 | €89,428 | €100,502 | €97,015 | ▼ 3.5% |
| Amounts payable17/49 | €46,377 | €27,932 | €34,146 | €67,780 | €66,306 | ▼ 2.2% |
| Amounts payable after more than one year17 | €22,005 | €15,866 | €9,609 | €38,639 | €27,150 | ▼ 29.7% |
| Financial debts170/4 | - | €15,866 | €9,609 | €38,639 | €27,150 | ▼ 29.7% |
| Amounts payable within one year42/48 | €24,371 | €12,066 | €24,536 | €29,142 | €39,156 | ▲ 34.4% |
| Current portion of amounts payable after more than one year42 | - | €6,140 | €6,257 | €12,399 | €11,489 | ▼ 7.3% |
| Trade debts44 | €14,197 | €1,602 | €12,852 | €12,372 | €11,042 | ▼ 10.7% |
| Suppliers440/4 | - | €1,602 | €12,852 | €12,372 | €11,042 | ▼ 10.7% |
| Taxes, remuneration and social security45 | - | €1,847 | €3,721 | €4,371 | €2,126 | ▼ 51.4% |
| Taxes450/3 | - | €1,847 | €3,721 | €4,371 | €2,126 | ▼ 51.4% |
| Other amounts payable47/48 | - | €2,478 | €1,707 | - | €14,499 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,711 | €14,760 | €22,454 | €11,073 | €9,153 | ▼ 17.3% |
| + Depreciation and write-downs630 | €9,412 | €12,923 | €10,165 | €14,966 | €18,353 | ▲ 22.6% |
| Operating cash flow (approximation) | €13,123 | €27,683 | €32,619 | €26,040 | €27,506 | ▲ 5.6% |
| Investment in fixed assets (approximation) | - | -€2,555 | -€4,391 | -€45,338 | -€1,336 | ▲ 97.1% |
| Change in cash | - | -€803 | -€5,407 | -€6,653 | €19,486 | ▲ 393% |
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
2025
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €22,454 ▲52.1%
Operating result €27,091, net result €22,454, both a record.
31-12
Financial
Equity above €100,000Eq €109,879 ▲25.7%
5 profitable years in a row build equity to €109,879.
11-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 6.76
Current ratio from 3.07 to 6.76; short-term debt falls from €24,371 to €12,066.
03-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €3,711 ▼74.4%
Net result drops to €3,711, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
2016
26-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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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Directors · office · real estate
Directors
3 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, Brugge · 1 establishment unit since 1990
Ground area
1,383 m²
Building footprint
128 m²
Volume, LiDAR
657 m³
Parcel 31027D0159/02B003, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ELTEE WOODWORKZ
since 19902.049.398.281
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31027D0159/02B003 | Flanders | 1,383 m² | 1 · 128 m² | 8.2 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 123 EUR awarded · 303 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 180 EUR |
| 2022 | 1 | 123 EUR | 123 EUR |
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,134. 7,715 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
Founded11-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.