Equity
Equity fell by 85% in 4 years.
Equity fell by 85% in 4 years.
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Less equity than 89% of companies in wholesale trade. Sector median €1.6m · 6,120 companies.
The dashed line is the sector median: 0.4% across 26,895 companies (NACE 46, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 46, micro). It does better than 90% of them on solvency, 98% on liquidity, 6% on profitability and 14% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 4,805 companies had the same profile as EltrexPro has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of EltrexPro itself is lower: 0.2% within 12 months. It rests on far more data about EltrexPro than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,805 companies, not a prediction for EltrexPro. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 22.79, above the usual 1.5. Short-term debt is 4.4% and cash 52.4% of total assets. 4.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 16 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| EltrexPro Antwerp | €75,488 | -€4,076 | 95.6% | - |
| D.N.M.C. Mons | €69,320 | -€11,515 | 61.4% | - |
| Helmacab België Antwerp | €31,747 | -€6,796 | -10.2% | 0 |
| Vonk Kontich | €130,886 | -€58,758 | -40.3% | - |
| Powerpartstore Antwerp | €23,015 | €1,532 | 66.7% | - |
| Insito Bever | €160,292 | -€36,268 | 19.4% | - |
| 7 Green Nutra Life Diest | €32,477 | -€906 | 98.8% | - |
These companies have the same main activity as EltrexPro: wholesale of electrical equipment, including installation materials (NACE 46643). They are comparable in size and age: total assets between €23,000 and €160,000, founded between 2011 and 2021.
EltrexPro has existed since 2016. The gross margin fell from €496,320 in 2019 to €83,338 in 2020.
Solvency rose in 2025 from 86.1% to 95.6%.
8 MEREN holds 80% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 95% of 6,189 companies in 2025.
Higher than 95% of 6,109 companies in 2025.
Lower than 95% of 6,173 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
75,488 | 125,948 | 195,891 | 198,855 | 614,035 | 510,188 | 817,357 | 1.0m | 1.0m | |
29/58 |
75,488 | 125,948 | 195,891 | 198,855 | 614,035 | 510,188 | 817,357 | 1.0m | 1.0m | |
3 |
30,415 | 85,131 | 81,758 | 69,214 | 105,441 | 99,923 | 154,222 | 281,135 | 315,336 | |
30/36 |
23,826 | 78,065 | 74,972 | 63,469 | 96,689 | 91,630 | 141,422 | 281,135 | 269,804 | |
37 |
6,588 | 7,066 | 6,786 | 5,745 | 8,752 | 8,294 | 12,800 | - | 45,533 | |
40/41 |
5,507 | 1,103 | 56,020 | 51,644 | 254,240 | 290,571 | 657,583 | 375,499 | 165,280 | |
40 |
5,507 | - | 55,458 | 11,352 | 207,581 | 251,955 | 643,583 | 370,167 | 164,343 | |
41 |
- | 1,103 | 562 | 40,292 | 46,658 | 38,616 | 14,000 | 5,333 | 937 | |
54/58 |
39,567 | 39,714 | 58,113 | 77,997 | 253,440 | 119,022 | 5,421 | 359,484 | 541,830 | |
490/1 |
- | - | - | 0 | 914 | 671 | 131 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
75,488 | 125,948 | 195,891 | 198,855 | 614,035 | 510,188 | 817,357 | 1.0m | 1.0m | |
10/15 |
72,176 | 108,427 | 176,259 | 163,150 | 494,983 | 438,328 | 376,122 | 177,325 | 39,801 | |
10/11 |
61,500 | 63,500 | 63,500 | 63,500 | 63,500 | 63,500 | 20,000 | 20,000 | 20,000 | |
10 |
61,500 | 63,500 | 63,500 | 63,500 | 63,500 | - | - | - | - | |
100 |
61,500 | 63,500 | 63,500 | 63,500 | 63,500 | 63,500 | 20,000 | 20,000 | 20,000 | |
13 |
8,350 | 6,350 | 6,350 | 6,350 | 6,350 | 3,111 | 2,000 | 2,000 | 2,000 | |
130/1 |
6,150 | 6,350 | 6,350 | 6,350 | 6,350 | 3,111 | - | - | - | |
130 |
6,150 | 6,350 | 6,350 | 6,350 | 6,350 | 3,111 | 2,000 | 2,000 | 2,000 | |
133 |
2,200 | - | - | - | - | - | - | - | - | |
14 |
2,326 | 38,577 | 106,409 | 93,300 | 425,133 | 371,717 | 354,122 | 155,325 | 17,801 | |
16 |
- | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | |
160/5 |
- | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | |
164/5 |
- | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | 17,045 | |
17/49 |
3,312 | 476 | 2,587 | 18,660 | 102,007 | 54,815 | 424,191 | 821,749 | 965,601 | |
42/48 |
3,312 | 476 | 2,587 | 18,660 | 102,007 | 54,815 | 424,191 | 821,749 | 965,601 | |
44 |
2,818 | 476 | 112 | 352 | 101,514 | 42,517 | 256,134 | 440,810 | 107,649 | |
440/4 |
2,818 | 476 | 112 | 352 | 101,514 | 42,517 | 256,134 | 440,810 | 107,649 | |
46 |
- | - | - | 0 | 176 | 176 | 90,692 | 340,498 | 597,802 | |
45 |
494 | - | 2,475 | 9,308 | 318 | 12,123 | 37,365 | 40,441 | 10,150 | |
450/3 |
494 | - | 2,475 | 9,308 | 318 | 12,123 | 37,365 | 40,441 | 10,150 | |
47/48 |
- | - | 0 | 9,000 | - | 0 | 40,000 | - | 250,000 | |
| Income statement | ||||||||||
9900 |
-4,076 | -65,250 | 18,004 | 54,887 | 109,297 | 83,338 | 496,320 | 189,502 | 50,847 | |
631/4 |
48,963 | - | 0 | -31,592 | 31,592 | - | - | - | - | |
635/8 |
-17,045 | - | - | - | - | - | - | - | 17,045 | |
640/8 |
120 | 505 | 109 | 614 | 969 | 968 | 966 | 670 | 939 | |
9901 |
-36,114 | -65,756 | 17,895 | 85,864 | 76,736 | 82,370 | 495,354 | 188,833 | 32,863 | |
75/76B |
1,178 | 100 | 1,381 | 17,990 | 1,319 | 1,491 | 342 | 9,383 | - | |
75 |
1,178 | 100 | 1,381 | 17,990 | 1,319 | 1,491 | 342 | 9,383 | - | |
65/66B |
1,315 | 2,177 | 1,807 | 11,687 | 783 | 1,656 | -446 | 401 | 2,913 | |
65 |
1,315 | 2,177 | 1,807 | 11,687 | 783 | 1,656 | -446 | 401 | 2,913 | |
9903 |
-36,250 | -67,833 | 17,469 | 92,167 | 77,272 | 82,206 | 496,142 | 197,815 | 29,951 | |
67/77 |
- | - | 4,360 | 24,000 | 20,616 | 20,000 | 147,345 | 60,291 | 10,150 | |
9904 |
-36,250 | -67,833 | 13,109 | 68,167 | 56,655 | 62,206 | 348,797 | 137,524 | 19,801 | |
9905 |
-36,250 | -67,833 | 13,109 | 68,167 | 56,655 | 62,206 | 348,797 | 137,524 | 19,801 | |
| Appropriation of the result | ||||||||||
9906 |
2,326 | 38,577 | 106,409 | 493,300 | 428,372 | 416,328 | 354,122 | 155,325 | 19,801 | |
14P |
38,577 | 106,409 | 93,300 | 425,133 | 371,717 | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | 150,000 | - | |
691/2 |
- | - | - | 0 | 3,239 | 44,611 | - | - | 2,000 | |
691 |
- | - | - | - | 0 | 41,500 | - | - | - | |
6920 |
- | - | - | 0 | 3,239 | 3,111 | - | - | 2,000 | |
694/7 |
- | - | 0 | 400,000 | - | - | 0 | 150,000 | - | |
694 |
- | - | 0 | 400,000 | - | - | 0 | 150,000 | - | |
| Document | ||||||||||
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-07-2026 | 2026-00380762 | |
| 31-12-2024 | abbreviated format | 22-07-2025 | 2025-00300007 | |
| 31-12-2023 | abbreviated format | 26-06-2024 | 2024-00189121 | |
| 31-12-2022 | abbreviated format | 11-07-2023 | 2023-00237775 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20100940 | |
| 31-12-2020 | abbreviated format | 12-08-2021 | 2021-48300123 | |
| 31-12-2019 | abbreviated format | 06-07-2020 | 2020-27300159 | |
| 31-12-2018 | abbreviated format | 01-07-2019 | 2019-26600318 | |
| 31-12-2017 | abbreviated format | 03-09-2018 | 2018-62000108 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| -147 | -18,399 | -19,884 | -175,443 | 134,418 | 113,601 | -354,063 | -182,346 | - | ||
| 72,176 | 125,471 | 193,304 | 180,195 | 512,028 | 455,372 | 393,167 | 194,370 | 56,845 | ||
| 95.6% | 86.1% | 90.0% | 82.0% | 80.6% | 85.9% | 46.0% | 17.5% | 3.9% | ||
| 22.79 | - | 75.73 | 10.66 | 6.02 | 9.31 | 1.93 | 1.24 | 1.06 | ||
| 13.61 | 85.66 | 44.12 | 6.95 | 4.99 | 7.48 | 1.56 | 0.89 | 0.73 | ||
| 0.05 | 0.00 | 0.01 | 0.11 | 0.21 | 0.13 | 1.13 | 4.63 | 24.26 | ||
| -50.2% | -62.6% | 7.4% | 41.8% | 11.4% | 14.2% | 92.7% | 77.6% | 49.7% | ||
| -48.0% | -53.9% | 6.7% | 34.3% | 9.2% | 12.2% | 42.7% | 13.5% | 1.9% |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €36,114, smaller than the loss of €65,756 in 2024.
Debt's share of the balance-sheet total rises from 0.4% to 4.4%. Equity is lower and debt is higher.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of 8 MEREN. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
| RODAX
registered office since 15-12-1983 · founded in 1983 |
20 FTE (2025) 0425.216.722 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Santvoortbeeklaan 33 registered office 2100 Antwerp 4614005 Agents in the wholesale of industrial machinery, ships and aircraft | 27-09-2016 | 2.259.569.468 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11012A0271/00S000 | 1,837 m² | 1 · 1,023 m² | 29.2 m · 2 |
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