ENVELOP
ActiveSummary
ENVELOP has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62k and a net result of €9k. Equity is shrinking by ~19.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 95% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+86
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 23.82 against 8.54 in 2024; short-term debt: 4.1% and cash: 0% of total assets), and 4.1% 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+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
95.9%
Return on assets
14.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
4 d late
2023
on the day
2022
17 d late
2021
24 d late
2020
379 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Turnover
€35k
EBIT margin
-63.9%
Net result
€9k
2024 · €-16k
Working capital
€60k▲ 20.5%
2024 · €50k
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
Line20212022202320242025
Turnover
Operating result€-15k▲ 33.7%€-25k▼ 71.1%€-36k▼ 40.7%€-16k▲ 56.2%€6k
Net result€-12k▲ 47.9%€-25k▼ 102%€-35k▼ 40.7%€-16k▲ 54.0%€9k
EBIT margin
Equity€125k▼ 11.0%€103k▼ 17.1%€69k▼ 33.5%€53k▼ 23.2%€62k▲ 17.3%
Total assets€129k▼ 10.9%€107k▼ 17.1%€71k▼ 33.4%€59k▼ 16.8%€64k▲ 8.7%
Debt€5k▼ 8.3%€4k▼ 15.7%€3k▼ 29.9%€7k▲ 145%€3k▼ 60.2%
Working capital€107k▲ 0.6%€90k▼ 15.4%€64k▼ 29.2%€50k▼ 22.3%€60k▲ 20.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6k after a loss of €16k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64k
Fixed assets
€2k ▼ 34.0%
Current assets
€62k ▲ 11.1%
Equity and liabilities €64k
Equity
€62k ▲ 17.3%
Debt
€3k ▼ 60.2%
Debt's share of the balance-sheet total falls from 11.1% to 4.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€7k▲
2024 · €-14k
Cash flow
€10k▲
2024 · €-14k
Current ratio
23.82▲
2024 · 8.54
Debt to equity
0.04▼
2024 · 0.12
ROE
14.7%▲
2024 · -30.1%
ROA
14.1%▲
2024 · -26.8%
Interest coverage
45.24▲
2024 · -105.39
Debt ≤ 1 year
€3k▼
2024 · €7k
Income taxes
€0▼
2024 · €267
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €9k | €8k | €2k | €1k | ▼ 34.3% |
| Other operating charges640/8 | - | €1k | €1k | €851 | €757 | ▼ 11.1% |
| Gross operating margin9900 | €-3k | €-15k | €-26k | €-13k | €8k | ▲ 163% |
| Operating profit (loss)9901 | €-15k | €-25k | €-36k | €-16k | €6k | ▲ 141% |
| Financial income75/76B | - | €1k | €1k | €47 | €3k | ▲ 6,140% |
| Recurring financial income75 | €3k | €1k | €1k | €47 | €3k | ▲ 6,140% |
| Financial charges65/66B | - | €120 | €100 | €132 | €164 | ▲ 24.2% |
| Recurring financial charges65 | €162 | €120 | €100 | €132 | €164 | ▲ 24.2% |
| Profit (loss) for the period before taxes9903 | €-12k | €-24k | €-34k | €-16k | €9k | ▲ 158% |
| Income taxes67/77 | €271 | €274 | €276 | €267 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €-12k | €-25k | €-35k | €-16k | €9k | ▲ 157% |
| Profit (loss) for the period to be appropriated9905 | €-12k | €-25k | €-35k | €-16k | €9k | ▲ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €129k | €107k | €71k | €59k | €64k | ▲ 8.7% |
| Formation expenses20 | €1k | - | - | - | - | - |
| Fixed assets21/28 | €17k | €13k | €5k | €3k | €2k | ▼ 34.0% |
| Tangible fixed assets22/27 | €17k | €13k | €5k | €3k | €2k | ▼ 34.0% |
| Land and buildings22 | - | €4k | €3k | €2k | €1k | ▼ 38.2% |
| Plant, machinery and equipment23 | - | €1k | €559 | €0 | - | - |
| Furniture and vehicles24 | - | €8k | €1k | €992 | €744 | ▼ 25.0% |
| Current assets29/58 | €111k | €94k | €67k | €56k | €62k | ▲ 11.1% |
| Amounts receivable within one year40/41 | €33k | €83k | €61k | €53k | €62k | ▲ 16.7% |
| Trade receivables40 | - | €5k | €2k | €3k | €0 | ▼ 100% |
| Other amounts receivable41 | - | €78k | €59k | €50k | €62k | ▲ 24.6% |
| Cash at bank and in hand54/58 | €78k | €11k | €6k | €3k | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | €435 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €129k | €107k | €71k | €59k | €64k | ▲ 8.7% |
| Equity10/15 | €125k | €103k | €69k | €53k | €62k | ▲ 17.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €121k | €121k | €121k | €121k | €121k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Other1319 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €119k | €119k | €119k | €119k | = |
| Profit (loss) carried forward14 | €-15k | €-37k | €-71k | €-87k | €-78k | ▲ 10.5% |
| Amounts payable17/49 | €5k | €4k | €3k | €7k | €3k | ▼ 60.2% |
| Amounts payable within one year42/48 | €5k | €4k | €3k | €7k | €3k | ▼ 60.2% |
| Trade debts44 | €3k | €3k | €2k | €5k | €2k | ▼ 56.6% |
| Suppliers440/4 | - | €3k | €2k | €5k | €2k | ▼ 56.6% |
| Taxes, remuneration and social security45 | - | €1k | €828 | €1k | €267 | ▼ 76.8% |
| Taxes450/3 | - | €1k | €828 | €1k | €267 | ▼ 76.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-12k | €-25k | €-35k | €-16k | €9k | ▲ 157% |
| + Depreciation and write-downs630 | €10k | €9k | €8k | €2k | €1k | ▼ 34.3% |
| Operating cash flow (approximation) | €-2k | €-16k | €-26k | €-14k | €10k | ▲ 171% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €0 | €0 | - |
| Change in cash | - | €-67k | €-5k | €-3k | €-3k | ▲ 7.8% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €9k
Net result €9k after 5 loss-making years.
30-06
Financial
Liquidity triplescurrent ratio 23.82
Current ratio from 8.54 to 23.82; short-term debt falls from €7k to €3k.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €-35k
Net result drops to €-35k, the lowest in the series; recovery starts the following year.
17-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
24-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
14-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 379 days late
2020
30-06
Financial
Liquidity times 11current ratio 22.38
Current ratio from 2.08 to 22.38; short-term debt falls from €113k to €5k.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Tongeren-Borgloon · 1 establishment unit since 1985
Ground area
6,697 m²
Building footprint
273 m²
Volume, LiDAR
1,273 m³
2 parcels, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
ENVELOP
since 19852.026.894.776
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71061B0280/00C000 | Flanders | 4,321 m² | 1 · 88 m² | 0.6 m |
| 73009C0600/00A003 | Flanders | 2,376 m² | 1 · 184 m² | 10.1 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 107 EUR awarded · 107 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 107 EUR | 107 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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TECHLAN
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PAPETERIE DELZENNE
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Of 333 companies in sector 46492 we hold annual accounts for 240. 155 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 (pre-2019)
Founded16-04-1985
Fiscal year end30-06
Activities, NACEBEL 2025
46492Wholesale trade
47621Retail sale of newspapers and periodicals
77222Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.