ELWI
ActiveSummary
ELWI has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €233,725 and a net result of €13,992. Equity is growing by ~18.4% per year across the filed fiscal years. Its solvency ranks better than 38% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72=
Solvency66▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 1.39 in 2024; short-term debt: 23.5% and cash: 8.9% of total assets), and 59.2% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
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
40.8%
Return on assets
2.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-04-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
40 d early
2023
47 d early
2022
68 d early
2021
82 d early
2020
22 d early
2019
69 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 50 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€158,466
EBIT margin
47.0%
Net result
€13,992▼ 18.9%
2024 · €17,262
Working capital
€43,779▼ 4.6%
2024 · €45,902
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20212022202320242025
Turnover
Operating result€121,772▲ 81.3%€95,241▼ 21.8%€81,931▼ 14.0%€37,412▼ 54.3%€35,446▼ 5.3%
Net result€68,978above the sector's middle half▲ 188%€46,764within the sector's middle half▼ 32.2%€46,247within the sector's middle half▼ 1.1%€17,262within the sector's middle half▼ 62.7%€13,992within the sector's middle half▼ 18.9%
EBIT margin
Equity€161,750within the sector's middle half▲ 74.4%€156,224within the sector's middle half▼ 3.4%€202,471within the sector's middle half▲ 29.6%€219,732within the sector's middle half▲ 8.5%€233,725above the sector's middle half▲ 6.4%
Total assets€850,928above the sector's middle half▲ 1.5%€763,041above the sector's middle half▼ 10.3%€696,950above the sector's middle half▼ 8.7%€609,677above the sector's middle half▼ 12.5%€572,191above the sector's middle half▼ 6.1%
Debt€689,179▼ 7.6%€606,817▼ 12.0%€494,479▼ 18.5%€389,945▼ 21.1%€338,467▼ 13.2%
Working capital€67,689▼ 25.9%-€105,270€56,847€45,902▼ 19.3%€43,779▼ 4.6%
Solvency19.0%below the sector's middle half▲ 7.9pp20.5%below the sector's middle half▲ 1.5pp29.1%within the sector's middle half▲ 8.6pp36.0%within the sector's middle half▲ 7.0pp40.8%within the sector's middle half▲ 4.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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 has fallen four years in a row; 2025 is 5% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €572,191
Fixed assets
€394,071 ▼ 11.6%
Current assets
€178,120 ▲ 8.7%
Equity and liabilities €572,191
Equity
€233,725 ▲ 6.4%
Debt
€338,467 ▼ 13.2%
Debt's share of the balance-sheet total falls from 64.0% to 59.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€116,953▼
2024 · €138,284
Cash flow
€95,499▼
2024 · €118,134
Current ratio
1.33▼
2024 · 1.39
Debt to equity
1.45▼
2024 · 1.77
ROE
6.0%▼
2024 · 7.9%
ROA
2.4%▼
2024 · 2.8%
Interest coverage
7.88▲
2024 · 7.48
Debt ≤ 1 year
€134,341▲
2024 · €118,001
Debt > 1 year
€200,075▼
2024 · €267,165
Income taxes
€8,263▲
2024 · €7,169
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
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 0.1% 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 14,733 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | €5,207 | €2,830 | ▼ 45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €95,151 | €101,730 | €104,169 | €100,872 | €81,507 | ▼ 19.2% |
| Other operating charges640/8 | - | €7,660 | €8,534 | €8,273 | €10,226 | ▲ 23.6% |
| Non-recurring operating charges66A | - | - | - | - | €5,170 | - |
| Gross operating margin9900 | €224,651 | €204,632 | €194,634 | €146,557 | €132,349 | ▼ 9.7% |
| Operating profit (loss)9901 | €121,772 | €95,241 | €81,931 | €37,412 | €35,446 | ▼ 5.3% |
| Financial income75/76B | - | €1,401 | €38 | €5,516 | €1,647 | ▼ 70.1% |
| Recurring financial income75 | €602 | €1,401 | €38 | €868 | €1,647 | ▲ 89.7% |
| Non-recurring financial income76B | - | - | - | €4,647 | €0 | ▼ 100% |
| Financial charges65/66B | - | €30,927 | €18,345 | €18,497 | €14,837 | ▼ 19.8% |
| Recurring financial charges65 | €26,008 | €30,927 | €18,345 | €18,497 | €14,837 | ▼ 19.8% |
| Profit (loss) for the period before taxes9903 | €96,367 | €65,716 | €63,623 | €24,430 | €22,255 | ▼ 8.9% |
| Income taxes67/77 | €27,389 | €18,951 | €17,377 | €7,169 | €8,263 | ▲ 15.3% |
| Profit (loss) for the period9904 | €68,978 | €46,764 | €46,247 | €17,262 | €13,992 | ▼ 18.9% |
| Transfer from tax-exempt reserves789 | - | €120 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €85,358 | €46,884 | €46,247 | €17,262 | €13,992 | ▼ 18.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €850,928 | €763,041 | €696,950 | €609,677 | €572,191 | ▼ 6.1% |
| Fixed assets21/28 | €667,501 | €586,927 | €510,925 | €445,774 | €394,071 | ▼ 11.6% |
| Tangible fixed assets22/27 | €667,451 | €586,877 | €510,875 | €445,725 | €394,022 | ▼ 11.6% |
| Land and buildings22 | - | €443,934 | €381,537 | €319,140 | €259,403 | ▼ 18.7% |
| Furniture and vehicles24 | - | €111,464 | €92,354 | €94,924 | €108,282 | ▲ 14.1% |
| Other tangible fixed assets26 | - | €31,479 | €36,984 | €31,660 | €26,337 | ▼ 16.8% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €183,428 | €176,114 | €186,025 | €163,903 | €178,120 | ▲ 8.7% |
| Amounts receivable within one year40/41 | €3,685 | €5,445 | €6,916 | €7,977 | €7,247 | ▼ 9.1% |
| Trade receivables40 | - | €4,708 | €6,507 | €3,162 | €3,275 | ▲ 3.6% |
| Other amounts receivable41 | - | €737 | €408 | €4,816 | €3,972 | ▼ 17.5% |
| Current investments50/53 | €59,595 | €67,732 | €84,996 | €102,117 | €115,143 | ▲ 12.8% |
| Cash at bank and in hand54/58 | €115,021 | €97,825 | €89,589 | €49,124 | €50,807 | ▲ 3.4% |
| Deferred charges and accrued income490/1 | - | €5,112 | €4,524 | €4,685 | €4,923 | ▲ 5.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €850,928 | €763,041 | €696,950 | €609,677 | €572,191 | ▼ 6.1% |
| Equity10/15 | €161,750 | €156,224 | €202,471 | €219,732 | €233,725 | ▲ 6.4% |
| Contributions10/11 | - | €0 | - | - | - | - |
| Reserves13 | €111,750 | €156,224 | €202,471 | €219,732 | €233,725 | ▲ 6.4% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €156,224 | €202,471 | €219,732 | €233,725 | ▲ 6.4% |
| Profit (loss) carried forward14 | - | €0 | €0 | - | - | - |
| Amounts payable17/49 | €689,179 | €606,817 | €494,479 | €389,945 | €338,467 | ▼ 13.2% |
| Amounts payable after more than one year17 | €567,815 | €319,499 | €359,097 | €267,165 | €200,075 | ▼ 25.1% |
| Financial debts170/4 | - | €319,499 | €359,097 | €267,165 | €200,075 | ▼ 25.1% |
| Amounts payable within one year42/48 | €115,739 | €281,384 | €129,178 | €118,001 | €134,341 | ▲ 13.8% |
| Current portion of amounts payable after more than one year42 | - | €253,398 | €88,095 | €91,932 | €105,521 | ▲ 14.8% |
| Trade debts44 | €2,635 | €1,767 | €6,093 | €2,748 | €5,017 | ▲ 82.6% |
| Suppliers440/4 | - | €1,767 | €6,093 | €2,748 | €5,017 | ▲ 82.6% |
| Taxes, remuneration and social security45 | - | €14,639 | €15,580 | €8,087 | €13,502 | ▲ 66.9% |
| Taxes450/3 | - | €14,639 | €15,580 | €8,087 | €13,502 | ▲ 66.9% |
| Other amounts payable47/48 | - | €11,581 | €19,410 | €15,234 | €10,302 | ▼ 32.4% |
| Accrued charges and deferred income492/3 | - | €5,934 | €6,204 | €4,779 | €4,050 | ▼ 15.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68,978 | €46,764 | €46,247 | €17,262 | €13,992 | ▼ 18.9% |
| + Depreciation and write-downs630 | €95,151 | €101,730 | €104,169 | €100,872 | €81,507 | ▼ 19.2% |
| Operating cash flow (approximation) | €164,129 | €148,495 | €150,416 | €118,134 | €95,499 | ▼ 19.2% |
| Investment in fixed assets (approximation) | - | -€21,157 | -€28,167 | -€35,721 | -€29,804 | ▲ 16.6% |
| Change in cash | - | -€17,197 | -€8,236 | -€40,466 | €1,683 | ▲ 104% |
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
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
21-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity doublescurrent ratio 1.44
Current ratio from 0.63 to 1.44; short-term debt falls from €281,384 to €129,178.
30-09
Financial
Equity above €200,000Eq €202,471 ▲29.6%
6 profitable years in a row build equity to €202,471.
21-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Highest result since 2018net €68,978 ▲188%
Operating result €121,772, net result €68,978, both a record.
30-09
Financial
Equity above €150,000Eq €161,750 ▲74.4%
4 profitable years in a row build equity to €161,750.
08-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
21-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
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, Brecht · 1 establishment unit since 2000
Ground area
757 m²
Building footprint
152 m²
Parcel 11009M0008/00X003, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Cambeenbos laan A 1, 2960 Brecht
since 20002.099.635.868
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11009M0008/00X003 | Flanders | 757 m² | 1 · 152 m² | - |
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 · 1 entry · 375 EUR awarded · 375 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 375 EUR | 375 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 39,223 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
Founded30-05-2000
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
66210Risk and damage evaluation
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472015163
Also
9925:BE0472015163
Registered
16-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.