ELTHO
ActiveSummary
The computed 12-month bankruptcy probability of ELTHO is 3.8% (moderate). The 2024 annual accounts show negative equity (-€37,361) and a net result of €3,363. Equity is shrinking by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 5899 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability75▼-4
Solvency0=
Growth58=
Track record94
Bankruptcy probability, 12 months
3.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.53 against 0.5 in 2023; short-term debt: 156.6% and cash: 4.2% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-57.3%
Return on assets
5.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 5899 sector peers (2024).
NBB · sector comparisonPosition among 5899 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
54 d late
2022
22 d late
2021
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 49 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€37,361▲ 8.3%
2023 · -€40,724
Total assets
€65,193▲ 10.0%
2023 · €59,243
Net result
€3,363▼ 29.9%
2023 · €4,797
Working capital
-€48,118▼ 1.3%
2023 · -€47,505
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2021202220232024
Operating result-€15,752--€33,932▼ 115%€5,284€3,811▼ 27.9%
Net result-€13,536below the sector's middle half--€34,985below the sector's middle half▼ 158%€4,797within the sector's middle half€3,363within the sector's middle half▼ 29.9%
Equity-€10,536below the sector's middle half--€45,521below the sector's middle half▼ 332%-€40,724below the sector's middle half▲ 10.5%-€37,361below the sector's middle half▲ 8.3%
Total assets€39,725below the sector's middle half-€39,678below the sector's middle half▼ 0.1%€59,243within the sector's middle half▲ 49.3%€65,193within the sector's middle half▲ 10.0%
Debt€50,261-€85,199▲ 69.5%€99,967▲ 17.3%€102,554▲ 2.6%
Working capital-€11,489below the sector's middle half--€47,319below the sector's middle half▼ 312%-€47,505below the sector's middle half▼ 0.4%-€48,118below the sector's middle half▼ 1.3%
Solvency-26.5%below the sector's middle half--114.7%below the sector's middle half▼ 88.2pp-68.7%below the sector's middle half▲ 46.0pp-57.3%below the sector's middle half▲ 11.4pp
Current ratio0.67below the sector's middle half-0.36below the sector's middle half▼ 0.300.50below the sector's middle half▲ 0.130.53below the sector's middle half▲ 0.03
Return on assets (ROA)-34.1%below the sector's middle half--88.2%below the sector's middle half▼ 54.1pp8.1%within the sector's middle half▲ 96.3pp5.2%within the sector's middle half▼ 2.9pp
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 28% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €65,193
Fixed assets
€11,203 ▼ 10.3%
Current assets
€53,990 ▲ 15.5%
Key figures and ratios
EBITDA
€9,698▼
2023 · €10,297
Cash flow
€9,250▼
2023 · €9,810
Quick ratio
0.20▼
2023 · 0.24
Debt to equity
-2.74▼
2023 · -2.45
Interest coverage
21.65▲
2023 · 17.78
Debt ≤ 1 year
€102,108▲
2023 · €94,258
Debt > 1 year
€446▼
2023 · €5,709
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,178 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.8% 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 497,662 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% | 1.7% |
| 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 75% 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 2,178 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 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,041 | €4,109 | €5,013 | €5,887 | ▲ 17.4% |
| Other operating charges640/8 | €1,340 | €850 | €1,358 | €2,008 | ▲ 47.9% |
| Non-recurring operating charges66A | €214 | - | €20 | - | - |
| Gross operating margin9900 | -€10,157 | -€28,973 | €11,675 | €11,706 | ▲ 0.3% |
| Operating profit (loss)9901 | -€15,752 | -€33,932 | €5,284 | €3,811 | ▼ 27.9% |
| Financial income75/76B | €3,510 | €4 | €92 | - | - |
| Recurring financial income75 | €10 | €4 | €92 | - | - |
| Non-recurring financial income76B | €3,500 | - | - | - | - |
| Financial charges65/66B | €1,294 | €1,057 | €579 | €448 | ▼ 22.6% |
| Recurring financial charges65 | €1,294 | €807 | €579 | €448 | ▼ 22.6% |
| Non-recurring financial charges66B | - | €250 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€13,536 | -€34,985 | €4,797 | €3,363 | ▼ 29.9% |
| Profit (loss) for the period9904 | -€13,536 | -€34,985 | €4,797 | €3,363 | ▼ 29.9% |
| Profit (loss) for the period to be appropriated9905 | -€13,536 | -€34,985 | €4,797 | €3,363 | ▼ 29.9% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €39,725 | €39,678 | €59,243 | €65,193 | ▲ 10.0% |
| Fixed assets21/28 | €16,723 | €12,614 | €12,490 | €11,203 | ▼ 10.3% |
| Tangible fixed assets22/27 | €16,502 | €12,393 | €12,269 | €6,382 | ▼ 48.0% |
| Land and buildings22 | - | - | €12,269 | - | - |
| Furniture and vehicles24 | €16,502 | €12,393 | - | €6,382 | - |
| Financial fixed assets28 | €221 | €221 | €221 | €4,821 | ▲ 2,081% |
| Current assets29/58 | €23,002 | €27,064 | €46,753 | €53,990 | ▲ 15.5% |
| Stocks and contracts in progress3 | - | €15,536 | €24,150 | €33,248 | ▲ 37.7% |
| Stocks30/36 | - | €15,536 | €24,150 | €33,248 | ▲ 37.7% |
| Amounts receivable within one year40/41 | €5,969 | €4,016 | €21,229 | €17,773 | ▼ 16.3% |
| Trade receivables40 | €2,777 | €1,776 | €19,002 | €14,117 | ▼ 25.7% |
| Other amounts receivable41 | €3,192 | €2,240 | €2,227 | €3,656 | ▲ 64.2% |
| Cash at bank and in hand54/58 | €16,019 | €7,328 | €1,172 | €2,757 | ▲ 135% |
| Deferred charges and accrued income490/1 | €1,014 | €184 | €202 | €212 | ▲ 5.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €39,725 | €39,678 | €59,243 | €65,193 | ▲ 10.0% |
| Equity10/15 | -€10,536 | -€45,521 | -€40,724 | -€37,361 | ▲ 8.3% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | -€13,536 | -€48,521 | -€43,724 | -€40,361 | ▲ 7.7% |
| Amounts payable17/49 | €50,261 | €85,199 | €99,967 | €102,554 | ▲ 2.6% |
| Amounts payable after more than one year17 | €15,770 | €10,816 | €5,709 | €446 | ▼ 92.2% |
| Financial debts170/4 | €15,770 | €10,816 | €5,709 | €446 | ▼ 92.2% |
| Amounts payable within one year42/48 | €34,491 | €74,383 | €94,258 | €102,108 | ▲ 8.3% |
| Current portion of amounts payable after more than one year42 | €4,807 | €4,955 | €5,107 | €5,263 | ▲ 3.1% |
| Trade debts44 | €1,094 | €11,051 | €16,556 | €5,238 | ▼ 68.4% |
| Suppliers440/4 | €1,094 | €11,051 | €10,147 | €3,035 | ▼ 70.1% |
| Bills of exchange payable441 | - | - | €6,409 | €2,203 | ▼ 65.6% |
| Taxes, remuneration and social security45 | - | - | €2,847 | - | - |
| Taxes450/3 | - | - | €2,847 | - | - |
| Other amounts payable47/48 | €28,590 | €58,377 | €69,748 | €91,607 | ▲ 31.3% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,536 | -€34,985 | €4,797 | €3,363 | ▼ 29.9% |
| + Depreciation and write-downs630 | €4,041 | €4,109 | €5,013 | €5,887 | ▲ 17.4% |
| Operating cash flow (approximation) | -€9,495 | -€30,876 | €9,810 | €9,250 | ▼ 5.7% |
| Investment in fixed assets (approximation) | - | €0 | -€4,889 | -€4,600 | ▲ 5.9% |
| Change in cash | - | -€8,691 | -€6,156 | €1,585 | ▲ 126% |
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
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 54 days late
2023
31-12
Financial
Back to profitnet €4,797
Net result €4,797 after 2 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Weakest financial yearnet -€34,985
Net result drops to -€34,985, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Leuze-en-Hainaut · 1 establishment unit since 2021
Ground area
1,472 m²
Building footprint
582 m²
Volume, LiDAR
1,391 m³
2 parcels, Wallonia · tallest building 14.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ELDI
since 20212.313.319.841
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57031C0020/00H002 | Wallonia | 846 m² | 1 · 315 m² | 14.3 m · 1 fl. |
| 57091A0235/00Z000 | Wallonia | 626 m² | 1 · 268 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 21,225 companies in sector 81300 we hold annual accounts for 4,369. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0760499596
Also
9925:BE0760499596
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.