ERELCO
ActiveSummary
The computed 12-month bankruptcy probability of ERELCO is 1.5% (moderate). The 2025 annual accounts show negative equity (-€99,597) and a net result of -€4,086. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 980 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+60
Solvency2▼-2
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.11 in 2024; short-term debt: 121.6% and cash: 8.1% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% 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 2025Solvency, return and age of the figures
Solvency
-22.6%
Return on assets
-0.9%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€99,597
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 27-04-2026, 3 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
3 d early
2024
2 d early
2023
4 d early
2022
3 d early
2021
2 d early
2020
39 d early
2019
3 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 8 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% 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. Usually files around 27 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€99,597▼ 4.3%
2024 · -€95,511
Total assets
€441,086▼ 4.4%
2024 · €461,368
Net result
-€4,086▲ 89.8%
2024 · -€39,958
Working capital
-€465,185▲ 4.9%
2024 · -€489,341
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€8,166▼ 65.2%-€17,948▼ 120%-€29,758▼ 65.8%-€39,832▼ 33.9%-€3,769▲ 90.5%
Net result-€8,045below the sector's middle half▼ 58.6%-€18,232below the sector's middle half▼ 127%-€29,768below the sector's middle half▼ 63.3%-€39,958below the sector's middle half▼ 34.2%-€4,086below the sector's middle half▲ 89.8%
Equity-€7,554below the sector's middle half-€25,786below the sector's middle half▼ 241%-€55,554below the sector's middle half▼ 115%-€95,511below the sector's middle half▼ 71.9%-€99,597below the sector's middle half▼ 4.3%
Total assets€542,557above the sector's middle half▼ 3.8%€522,666above the sector's middle half▼ 3.7%€486,409above the sector's middle half▼ 6.9%€461,368above the sector's middle half▼ 5.1%€441,086within the sector's middle half▼ 4.4%
Debt€550,111▼ 2.4%€548,452▼ 0.3%€541,962▼ 1.2%€556,879▲ 2.8%€540,682▼ 2.9%
Working capital-€512,228below the sector's middle half▲ 5.9%-€488,636below the sector's middle half▲ 4.6%-€483,768below the sector's middle half▲ 1.0%-€489,341below the sector's middle half▼ 1.2%-€465,185below the sector's middle half▲ 4.9%
Solvency-1.4%below the sector's middle half▼ 1.5pp-4.9%below the sector's middle half▼ 3.5pp-11.4%below the sector's middle half▼ 6.5pp-20.7%below the sector's middle half▼ 9.3pp-22.6%below the sector's middle half▼ 1.9pp
Current ratio0.06below the sector's middle half▲ 0.030.10below the sector's middle half▲ 0.040.11below the sector's middle half=0.11below the sector's middle half▲ 0.010.13below the sector's middle half▲ 0.02
Return on assets (ROA)-1.5%below the sector's middle half▼ 0.6pp-3.5%below the sector's middle half▼ 2.0pp-6.1%below the sector's middle half▼ 2.6pp-8.7%below the sector's middle half▼ 2.5pp-0.9%below the sector's middle half▲ 7.7pp
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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 stays negative: a loss of €3,769 in 2025 against €39,832 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €441,086
Fixed assets
€370,004 ▼ 7.1%
Current assets
€71,081 ▲ 12.4%
Key figures and ratios
EBITDA
€23,357▲
2024 · -€3,365
Cash flow
€23,041▲
2024 · -€3,491
Debt to equity
-5.43▲
2024 · -5.83
Interest coverage
73.82▲
2024 · -13.52
Debt ≤ 1 year
€536,266▼
2024 · €552,584
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,564 companies that looked in July 2024 the way this one looks now, 5.1% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a small loss
5.1%
went bankrupt
5.4%
stopped otherwise
89%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,564 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 | - | - | - | - | €15,832 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,615 | €41,476 | €37,000 | €36,466 | €27,126 | ▼ 25.6% |
| Other operating charges640/8 | €2,886 | €2,743 | €6,606 | €5,534 | €5,796 | ▲ 4.7% |
| Gross operating margin9900 | €36,335 | €26,271 | €13,849 | €2,168 | €29,153 | ▲ 1,245% |
| Operating profit (loss)9901 | -€8,166 | -€17,948 | -€29,758 | -€39,832 | -€3,769 | ▲ 90.5% |
| Financial income75/76B | €250 | €20 | €218 | €123 | - | - |
| Recurring financial income75 | €250 | €20 | €218 | €123 | - | - |
| Financial charges65/66B | €128 | €303 | €228 | €249 | €316 | ▲ 27.1% |
| Recurring financial charges65 | €128 | €303 | €228 | €249 | €316 | ▲ 27.1% |
| Profit (loss) for the period before taxes9903 | -€8,045 | -€18,232 | -€29,768 | -€39,958 | -€4,086 | ▲ 89.8% |
| Profit (loss) for the period9904 | -€8,045 | -€18,232 | -€29,768 | -€39,958 | -€4,086 | ▲ 89.8% |
| Profit (loss) for the period to be appropriated9905 | -€8,045 | -€18,232 | -€29,768 | -€39,958 | -€4,086 | ▲ 89.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €542,557 | €522,666 | €486,409 | €461,368 | €441,086 | ▼ 4.4% |
| Fixed assets21/28 | €507,038 | €465,562 | €428,562 | €398,125 | €370,004 | ▼ 7.1% |
| Intangible fixed assets21 | €3,162 | €2,635 | €2,109 | €1,583 | €1,057 | ▼ 33.2% |
| Tangible fixed assets22/27 | €503,877 | €462,926 | €426,452 | €396,542 | €368,947 | ▼ 7.0% |
| Land and buildings22 | €365,534 | €355,145 | €344,755 | €337,726 | €327,166 | ▼ 3.1% |
| Plant, machinery and equipment23 | €85,369 | €72,977 | €61,136 | €50,996 | €39,162 | ▼ 23.2% |
| Furniture and vehicles24 | €52,973 | €34,804 | €20,561 | €7,819 | €2,619 | ▼ 66.5% |
| Current assets29/58 | €35,519 | €57,104 | €57,847 | €63,243 | €71,081 | ▲ 12.4% |
| Amounts receivable within one year40/41 | €21,607 | €21,213 | €18,349 | €17,246 | €32,885 | ▲ 90.7% |
| Trade receivables40 | €21,607 | €21,213 | €18,349 | €15,622 | €32,885 | ▲ 111% |
| Other amounts receivable41 | - | - | - | €1,624 | - | - |
| Cash at bank and in hand54/58 | €11,909 | €33,837 | €36,113 | €42,085 | €35,875 | ▼ 14.8% |
| Deferred charges and accrued income490/1 | €2,003 | €2,054 | €3,385 | €3,913 | €2,321 | ▼ 40.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €542,557 | €522,666 | €486,409 | €461,368 | €441,086 | ▼ 4.4% |
| Equity10/15 | -€7,554 | -€25,786 | -€55,554 | -€95,511 | -€99,597 | ▼ 4.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€27,554 | -€45,786 | -€75,554 | -€115,511 | -€119,597 | ▼ 3.5% |
| Amounts payable17/49 | €550,111 | €548,452 | €541,962 | €556,879 | €540,682 | ▼ 2.9% |
| Amounts payable within one year42/48 | €547,747 | €545,740 | €541,615 | €552,584 | €536,266 | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | €292,629 | €292,879 | - | - | - | - |
| Trade debts44 | €3,637 | €6,381 | €1,505 | €19,224 | €2,264 | ▼ 88.2% |
| Suppliers440/4 | €3,637 | €6,381 | €1,505 | €19,224 | €2,264 | ▼ 88.2% |
| Taxes, remuneration and social security45 | - | - | - | - | €892 | - |
| Taxes450/3 | - | - | - | - | €892 | - |
| Other amounts payable47/48 | €251,481 | €246,481 | €540,110 | €533,360 | €533,110 | = |
| Accrued charges and deferred income492/3 | €2,364 | €2,711 | €348 | €4,295 | €4,417 | ▲ 2.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,045 | -€18,232 | -€29,768 | -€39,958 | -€4,086 | ▲ 89.8% |
| + Depreciation and write-downs630 | €41,615 | €41,476 | €37,000 | €36,466 | €27,126 | ▼ 25.6% |
| Operating cash flow (approximation) | €33,570 | €23,245 | €7,232 | -€3,491 | €23,041 | ▲ 760% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€6,030 | €994 | ▲ 116% |
| Change in cash | - | €21,928 | €2,276 | €5,972 | -€6,210 | ▼ 204% |
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
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet -€39,958
Net result drops to -€39,958, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
15-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro 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, Gouvy · 1 establishment unit since 2017
Ground area
9,742 m²
Building footprint
1,117 m²
Parcel 82007E1695/00R004, Wallonia. Linked by address, not a title deed.
1 establishment unit
ERELCO
since 20172.266.427.962
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82007E1695/00R004 | Wallonia | 9,742 m² | 1 · 1,117 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.
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Of 1,031 companies in sector 52100 we hold annual accounts for 769. 18 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
Founded13-07-2017
Fiscal year end30-09
Activities, NACEBEL 2025
52100Warehousing and storage
49420Removal services
52249Warehousing and support activities for transportation
52250Logistics services
77399Renting and leasing of other machinery, equipment and tangible goods
81100Combined facilities support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0678557956
Also
9925:BE0678557956
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.