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ELZENVELD

Active
Public limited companyfounded 2017active for 8 yearsLange Gasthuisstraat 35-37, 2000 Antwerpen, BelgiumKBO/BCE: BE 0685.932.431
Summary

The computed 12-month bankruptcy probability of ELZENVELD is 2.1% (moderate). The 2025 annual accounts show negative equity (-€10.2m) and a net result of -€1.9m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 493 sector peers (NACE 55, financial year 2025). The company has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Hotels and similar accommodation
NACE 55100
#1 company by staff growth in the province of Antwerp, Accommodation sector2 sites
Size
€29.6mturnover 2025
Staff
166.1 FTE
Equity
-€10.2m
Loss
-€1.9m
Financial health
52 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
2.1%
Structure
Parent
IRET INVESTMENT · 100%
Accounts 30 days early0 of 6 deeds read
Why 52raises riskNegative equity -€10.2mLoss of €1.9m, the second in a row (financial year 2025)lowers riskSize: turnover €29.6m, 166.1 FTE, total assets €9.8mLegal form: public limited companyShow the evidence

Checked score

Score 2025
52 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 23% of its sector peers (NACE 55, medium-sized)
Financial strength · tick = 2024
Weak
Solvency 0=
equity -104.3% of total assets
Liquidity 22+1
short-term debt 201.8% · cash 17.8%
Profitability 5+5
return on assets -19.4%
Bankruptcy probability, 12 months
2.1% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (111 companies, NACE 55, medium-sized)
Last 24 months 11-2024: 1.7% 12-2024: 1.7%● unchanged vs 11-2024 01-2025: 1.7%● unchanged vs 12-2024 02-2025: 1.7%● unchanged vs 01-2025 03-2025: 1.6%▼ -0.1 percentage points vs 02-2025lowest value 04-2025: 1.6%● unchanged vs 03-2025lowest value 05-2025: 1.6%● unchanged vs 04-2025 06-2025: 1.7%▲ +0.1 percentage points vs 05-2025 07-2025: 1.8%▲ +0.1 percentage points vs 06-2025 08-2025: 1.9%▲ +0.1 percentage points vs 07-2025 09-2025: 1.9%● unchanged vs 08-2025 10-2025: 1.9%● unchanged vs 09-2025 11-2025: 1.9%● unchanged vs 10-2025 12-2025: 1.9%● unchanged vs 11-2025 01-2026: 2.2%▲ +0.3 percentage points vs 12-2025 02-2026: 2.3%▲ +0.1 percentage points vs 01-2026 03-2026: 2.2%▼ -0.1 percentage points vs 02-2026 04-2026: 2.2%● unchanged vs 03-2026 05-2026: 2.4%▲ +0.2 percentage points vs 04-2026 06-2026: 2.4%● unchanged vs 05-2026 07-2026: 2.5%▲ +0.1 percentage points vs 06-2026highest value 08-2026: 2.1%▼ -0.4 percentage points vs 07-2026 09-2026: 2.1%● unchanged vs 08-2026 10-2026: 2.1%● unchanged vs 09-2026
No credit on open account
Liquidity insufficient (current ratio 0.34, compared with 0.26 in 2024; short-term debt: 201.8% and cash: 17.8% of total assets), and equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 55, medium-sized): better than 8% on solvency, 17% on liquidity, 8% on profitability and 58% on growth.

The bankruptcy probability was computed on 09-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
−lowers risk+raises risk○neutral
raises risk · Negative equity -€10.2m
NBB · annual accounts
raises risk · Loss of €1.9m, the second in a row (financial year 2025)
NBB · annual accounts
lowers risk · Size: turnover €29.6m, 166.1 FTE, total assets €9.8m
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
lowers risk · Legal form: public limited company
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€10.2m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 8 filings
Deviation from the deadline
2025
30 days early
2024
20 days early
2023
28 days early
2022
17 days early
2021
20 days early
2020
23 days early
2019
34 days late
← 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 15 days before the deadline; the sector median (NACE 55) for financial year 2024 is 1 day before the deadline, and 45% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
09-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Annual accounts filedfinancial year 2024 · full…
  3. Weakest financial yearnet -€3.2m

Key points

  • Risk: Negative equityfinancial year 2025: debts exceed assets -€10.2m View
  • Risk: 7 loss-making years in a rowloss financial year 2025 -€1.9m View
  • Caution: Among the weakest 5% on net resultsector median €12,041 · 493 companies -€1.9m View
  • Controlled by IRET INVESTMENT 100% View
  • Positive: Result rose in 2025from -€3.2m to -€1.9m ▲ 40.6% View
  • Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View

By topic

Financials

Financial year
2025
Turnover
€29.6m
Loss
-€1.9m
Solvency
-104.3%
Turnover▲ 19.0%
Net result
20232025
Go to Financials

Timeline

Events
9
Since
2019
Next accounts
by 31-07-2027
  1. 03-07-2024Annual accounts filed
  2. 14-07-2023Annual accounts filed
  3. 11-07-2022Annual accounts filed
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Hotels and similar accommodationNACE 55100
Founded
14-12-2017
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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