Xelor
ActiveSummary
Xelor has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €451k and a net result of €187k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 39% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▼-2
Solvency65▲+12
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.36 in 2024; short-term debt: 59.9% and cash: 31% of total assets), but 60% of the assets are financed with debt.
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Signals
Five 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%
Return on assets
16.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €451k
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
31 d late
2023
31 d late
2022
18 d early
2021
103 d early
2020
27 d late
2019
91 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 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, abbreviated schema
Equity
€451k▲ 70.6%
2024 · €264k
Total assets
€1.13M▲ 20.5%
2024 · €935k
Net result
€187k▲ 10.3%
2024 · €169k
Working capital
€433k▲ 79.9%
2024 · €241k
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
Operating result€16k▼ 88.2%€-167k€-99k▲ 40.8%€190k€218k▲ 14.8%
Net result€624▼ 99.5%€-186k€-116k▲ 37.8%€169k€187k▲ 10.3%
Equity€147k▼ 73.5%€211k▲ 43.7%€95k▼ 54.8%€264k▲ 178%€451k▲ 70.6%
Total assets€1.42M▼ 15.1%€1.09M▼ 22.8%€1.02M▼ 6.8%€935k▼ 8.3%€1.13M▲ 20.5%
Debt€1.27M▲ 13.8%€884k▼ 30.4%€924k▲ 4.6%€671k▼ 27.4%€676k▲ 0.8%
Working capital€135k▼ 79.6%€201k▲ 49.1%€82k▼ 59.3%€241k▲ 194%€433k▲ 79.9%
Staff (FTE)32.5▼ 8.7%27▼ 16.9%22.9▼ 15.2%17.9▼ 21.8%17.5▼ 2.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 15% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.13M
Fixed assets
€19k ▼ 32.9%
Current assets
€1.11M ▲ 22.2%
Equity and liabilities €1.13M
Equity
€451k ▲ 70.6%
Debt
€676k ▲ 0.8%
Debt's share of the balance-sheet total falls from 71.7% to 60.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€228k▲
2024 · €199k
Cash flow
€196k▲
2024 · €178k
Current ratio
1.64▲
2024 · 1.36
Debt to equity
1.50▼
2024 · 2.54
ROE
41.4%▼
2024 · 64.0%
ROA
16.6%▼
2024 · 18.1%
Interest coverage
10.90▲
2024 · 9.50
Debt ≤ 1 year
€675k▲
2024 · €666k
Income taxes
€18k▲
2024 · €2k
Staff costs
€1.06M▼
2024 · €1.10M
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2k | €0 | - | €42k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €1.68M | €1.52M | €1.38M | €1.10M | €1.06M | ▼ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €10k | €9k | €9k | €9k | ▲ 6.9% |
| Other operating charges640/8 | €3k | €19k | €6k | €5k | €3k | ▼ 30.9% |
| Non-recurring operating charges66A | - | - | - | €10k | €0 | ▼ 100% |
| Gross operating margin9900 | €1.70M | €1.38M | €1.30M | €1.31M | €1.29M | ▼ 1.9% |
| Operating profit (loss)9901 | €16k | €-167k | €-99k | €190k | €218k | ▲ 14.8% |
| Financial income75/76B | €10k | €61 | €251 | €3k | €8k | ▲ 205% |
| Recurring financial income75 | €10k | €61 | €251 | €3k | €8k | ▲ 205% |
| Financial charges65/66B | €21k | €15k | €14k | €21k | €21k | ▼ 0.3% |
| Recurring financial charges65 | €21k | €15k | €14k | €21k | €21k | ▼ 0.3% |
| Non-recurring financial charges66B | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €5k | €-182k | €-112k | €172k | €205k | ▲ 19.5% |
| Income taxes67/77 | €5k | €4k | €3k | €2k | €18k | ▲ 649% |
| Profit (loss) for the period9904 | €624 | €-186k | €-116k | €169k | €187k | ▲ 10.3% |
| Profit (loss) for the period to be appropriated9905 | €624 | €-186k | €-116k | €169k | €187k | ▲ 10.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.42M | €1.09M | €1.02M | €935k | €1.13M | ▲ 20.5% |
| Fixed assets21/28 | €12k | €10k | €20k | €28k | €19k | ▼ 32.9% |
| Intangible fixed assets21 | €450 | €300 | €150 | €0 | - | - |
| Tangible fixed assets22/27 | €11k | €10k | €20k | €23k | €14k | ▼ 40.0% |
| Plant, machinery and equipment23 | €1k | €511 | €6k | €7k | €5k | ▼ 23.8% |
| Furniture and vehicles24 | €10k | €9k | €14k | €16k | €9k | ▼ 46.9% |
| Other tangible fixed assets26 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €147 | €147 | €0 | €5k | €5k | = |
| Current assets29/58 | €1.41M | €1.08M | €999k | €907k | €1.11M | ▲ 22.2% |
| Amounts receivable after more than one year29 | €117k | €0 | - | - | - | - |
| Other amounts receivable291 | €117k | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €136k | €121k | €13k | €0 | - | - |
| Stocks30/36 | €136k | €121k | €13k | €0 | - | - |
| Amounts receivable within one year40/41 | €756k | €906k | €803k | €844k | €752k | ▼ 10.8% |
| Trade receivables40 | €752k | €895k | €784k | €812k | €729k | ▼ 10.3% |
| Other amounts receivable41 | €4k | €11k | €19k | €32k | €24k | ▼ 25.3% |
| Current investments50/53 | €768 | €509 | €509 | €0 | - | - |
| Cash at bank and in hand54/58 | €377k | €53k | €167k | €54k | €349k | ▲ 544% |
| Deferred charges and accrued income490/1 | €19k | €3k | €16k | €9k | €6k | ▼ 27.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.42M | €1.09M | €1.02M | €935k | €1.13M | ▲ 20.5% |
| Equity10/15 | €147k | €211k | €95k | €264k | €451k | ▲ 70.6% |
| Contributions10/11 | €90k | €340k | €340k | €340k | €340k | = |
| Reserves13 | €57k | €0 | - | - | €111k | - |
| Non-distributable reserves130/1 | €9k | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €9k | €0 | - | - | - | - |
| Distributable reserves133 | €48k | €0 | - | - | €111k | - |
| Profit (loss) carried forward14 | €0 | €-129k | €-245k | €-76k | €0 | ▲ 100% |
| Amounts payable17/49 | €1.27M | €884k | €924k | €671k | €676k | ▲ 0.8% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Other amounts payable178/9 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.27M | €883k | €917k | €666k | €675k | ▲ 1.3% |
| Current portion of amounts payable after more than one year42 | €192k | €167k | €193k | €193k | €192k | ▼ 0.1% |
| Financial debts43 | - | €1 | €125k | €1 | €1 | = |
| Credit institutions430/8 | - | €1 | €125k | €1 | €1 | = |
| Trade debts44 | €604k | €430k | €430k | €268k | €318k | ▲ 19.0% |
| Suppliers440/4 | €604k | €430k | €430k | €268k | €318k | ▲ 19.0% |
| Taxes, remuneration and social security45 | €474k | €286k | €170k | €136k | €164k | ▲ 20.7% |
| Taxes450/3 | €126k | €83k | €35k | €14k | €30k | ▲ 122% |
| Remuneration and social security454/9 | €348k | €203k | €135k | €122k | €134k | ▲ 9.5% |
| Other amounts payable47/48 | €124 | €0 | - | €70k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €0 | €749 | €7k | €5k | €1k | ▼ 77.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €624 | €-186k | €-116k | €169k | €187k | ▲ 10.3% |
| + Depreciation and write-downs630 | €5k | €10k | €9k | €9k | €9k | ▲ 6.9% |
| Operating cash flow (approximation) | €5k | €-176k | €-106k | €178k | €196k | ▲ 10.1% |
| Investment in fixed assets (approximation) | - | €-9k | €-19k | €-16k | €0 | ▲ 100% |
| Change in cash | - | €-324k | €114k | €-112k | €295k | ▲ 363% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €187k ▲10.3%
Operating result €218k, net result €187k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
31-12
Financial
Back to profitnet €169k
Net result €169k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €264k ▲178%
Equity rises from €95k to €264k.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200kEq €211k ▲43.7%
Equity rises from €147k to €211k.
19-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Equity above €500kEq €552k ▲29.1%
2 profitable years in a row build equity to €552k.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
08-06
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 8 acts read
About the unread acts
We know of 8 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
8 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, Grimbergen · 1 establishment unit since 1997
Ground area
3,786 m²
Building footprint
3,136 m²
Volume, LiDAR
49,492 m³
Parcel 23403G0363/00A002, Flanders · tallest building 24.9 m, ±5 floors. Linked by address, not a title deed.
20
companies at this address
See who is registered here
1 establishment unit
Xelor
since 19972.066.510.467
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23403G0363/00A002 | Flanders | 3,786 m² | 1 · 3,136 m² | 24.9 m · 5 fl. |
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
2022 · 2 entries · 3,806 EUR awarded · 3,806 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 3,806 EUR | 3,806 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 35,457 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
Founded31-03-1994
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.