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WM Elan

Active
Private limited companyfounded 1923103 yrs activeKortrijkstraat(Z) 117, 8550 Zwevegem, BelgiumKBO/BCE: BE 0405.412.092
Summary

WM Elan has been active since 1923 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40.3m and a net result of €1.7m. Equity is growing by ~9.2% per year across the filed fiscal years. Its solvency ranks better than 35% of 5653 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
WM ElanActiveChecked score 89/100
Risk analysis ReportCompare

Overview

Activity
Real estate activities
NACE 68202NACE 70202
#1 oldest company in Zwevegem2 sites
Size
€11.0mturnover 2025
Staff
26.8 FTE
Equity
€40.3m
Profit
€1.7m
Net result +232%: branch received
Financial health
89 Excellent Checked score 2025
Bankruptcy chance 12 m
0.2%
Structure
Accounts 57 d early0 of 32 deeds read
Why 89- Equity €40.3m (22.5% of total assets)- Liquidity: current ratio 2.08, cash €9.9m, halved- 2 establishment units+ Size: turnover €11.0m, 26.8 FTE, total assets €179.4mShow the evidence

Checked score

Score 2025
89 / 100
Excellent
Probability in this band: under 0.55%
Better than 63% of its sector peers (NACE 68, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 47-1
equity 22.5% of total assets
Liquidity 57-12
short-term debt 7.1% · cash 5.5%
Profitability 60+2
return on assets 0.9%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (6,963 companies)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▼ -4.0% vs 01-2025 03-2025: 0.1%● 0.0% vs 02-2025 04-2025: 0.1%▲ +2.1% vs 03-2025 05-2025: 0.1%● 0.0% vs 04-2025 06-2025: 0.1%▼ -1.0% vs 05-2025 07-2025: 0.1%▼ -3.1% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%▼ -4.3% vs 01-2026 03-2026: 0.1%● 0.0% vs 02-2026 04-2026: 0.1%▼ -1.1% vs 03-2026 05-2026: 0.1%▼ -1.1% vs 04-2026lowest value 06-2026: 0.1%▲ +2.3% vs 05-2026 07-2026: 0.2%▲ +161% vs 06-2026highest value 08-2026: 0.2%● 0.0% vs 07-2026highest value 09-2026: 0.2%● 0.0% vs 08-2026highest value 10-2026: 0.2%● 0.0% vs 09-2026highest value
  • Equity €40.3m (22.5% of total assets) raises the probability
  • Size: turnover €11.0m, 26.8 FTE, total assets €179.4m lowers the probability for this profile
  • Liquidity: current ratio 2.08, cash €9.9m, halved raises the probability
  • 2 establishment units raises the probability
Credit up to €1,050,000 at 30 days acceptable
Liquidity ample (current ratio 2.08 against 3.95 in 2024; short-term debt: 7.1% and cash: 5.5% of total assets), but 77.5% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, small). Better than this share of them on solvency 42%, liquidity 83%, profitability 59%, growth against the median 67%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Equity €40.3m (22.5% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: turnover €11.0m, 26.8 FTE, total assets €179.4m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 2.08, cash €9.9m, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 2 establishment units
In the bankruptcy model this factor raises the probability.
KBO · seat and establishments
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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
57 d early
2024
50 d early
2023
27 d early
2022
94 d early
2021
41 d early
2020
47 d early
2019
51 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 52 days before the deadline; the sector median for financial year 2024 is 7 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 11 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. General meeting · DemergerNet-asset statement · Accounting effect…
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Result rose in 2025branch received from SW+ ▲ 232% View
  • Positive: Oldest company in Zwevegemin the Checked rankings #1 View
  • Flemish supportawarded 2022 - 2025 €10.5m View
  • 2 restructurings since 2023latest: branch taken over from SW+ 2 View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Positive: 4 years of growth in a rowturnover 2025: €11.0m 4 years View
  • Active since 1923founded 14-01-1923 103 years View

By topic

Financials

Fiscal year
2025
Turnover
€11.0m
Profit
€1.7m
Solvency
22.5%
Turnover▲ 10.9%
Net result
20182025
Go to Financials

Timeline

Events
18
Since
2017
Next accounts
by 31-07-2027
  1. 04-06-2026Annual accounts filed
  2. 14-07-2025General meeting · Demerger
  3. 11-06-2025Annual accounts filed
Go to Timeline

Company details

Sites
2
Legal form
Private limited company
Activity
Real estate activitiesNACE 68202
Founded
14-01-1923
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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 Is the workforce growing, and do people stay?Employer check 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 What other support did companies like this one receive, and it did not?Subsidies

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