Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of ELATAN is 0.2% (very low). The 2025 annual accounts show equity of €3.26M and a net result of €-21k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 54% of 205 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 8 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.2%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Long track record
−Lower-risk legal form
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Trust signals
2 signalsEstablished
Founded in 2006, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€568k-9.7%
EBIT margin27.1%-9.7pp
Net result€-21k
Working capital€-1.42M-5.4%
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 08-06-2026 with the NBB · fiscal year 2025 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 8 fiscal years (±0.7%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 34.7% | 31.0% | |
| Net result | €-21k | €9k | |
| Equity | €3.26M | €503k | |
| Total assets | €9.38M | €2.43M |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P54
Stable position over 2020-2025
· n=205-776
P29
Weakening position over 2020-2025
· n=204-774
P74
Improving position over 2020-2025
· n=205-776
P75
Improving position over 2020-2025
· n=205-776
Describes the position versus peers, not a forecast.
€568k
-9.7%
-35% vs sector
€469k
-14.2%
far above sector median
€-21k
-
far below sector median
€294k
-19.3%
+290% vs sector
€9.38M
-3.8%
+222% vs sector
€3.26M
-0.6%
+202% vs sector
€-1.42M
-5.4%
-135% vs sector
€180
-
-29% vs sector
€6.12M
-5.3%
+204% vs sector
€1.78M
+1.3%
+71% vs sector
€4.29M
-7.9%
+171% vs sector
0.20
-13.3%
-69% vs sector
0.20
-13.3%
-60% vs sector
34.7%
+3.2%
+10% vs sector
1.88
-4.7%
-11% vs sector
-0.7%
-
-88% vs sector
-0.2%
-
+2% vs sector
-3.7%
-
far below sector median
82.6%
-4.9%
+34% vs sector
2.68
-10.5%
-14% vs sector
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Revenue | €568k |
| EBITDA | €469k |
| Net profit | €-21k |
| Cash flow | €294k |
| Staff costs | - |
| Income taxes | €180 |
| Dividends | - |
| Total assets | €9.38M |
| Equity | €3.26M |
| Debt | €6.12M |
| of which ≤ 1y | €1.78M |
| of which > 1y | €4.29M |
| Working capital | €-1.42M |
| Employees (FTE) | - |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 0.20 |
| Quick ratio | 0.20 |
| Working capital ratio | -15.1% |
| Solvency | 34.7% |
| Debt / equity | 1.88 |
| Long-term debt ratio | 1.32 |
| Interest coverage | 2.68 |
| Gross margin | - |
| Net margin | -3.7% |
| ROA | -0.2% |
| ROE | -0.7% |
| EBITDA margin | 82.6% |
| Days sales outstanding | 37d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €9.38M |
| Fixed assets | 21/28 | €9.02M |
| Tangible fixed assets | 22/27 | €9.02M |
| Current assets | 29/58 | €360k |
| Stocks & contracts in progress | 3 | €0 |
| Amounts receivable within one year | 40/41 | €57k |
| Investments | 50/53 | €101k |
| Cash & bank | 54/58 | €202k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €9.38M |
| Equity | 10/15 | €3.26M |
| Contributions / capital | 10/11 | €3.63M |
| Reserves | 13 | €340 |
| Accumulated profits (losses) | 14 | €-371k |
| Amounts payable | 17/49 | €6.12M |
| Amounts payable after one year | 17 | €4.29M |
| Amounts payable within one year | 42/48 | €1.78M |
| Trade debts payable within one year | 44 | €2k |
| Income statement | ||
| Turnover | 70 | €568k |
| Operating result | 9901 | €154k |
| Financial income | 75 | €602 |
| Financial charges | 65 | €175k |
| Result before taxes | 9903 | €-21k |
| Income taxes | 67/77 | €180 |
| Net result for the period | 9904 | €-21k |
| Result to be appropriated | 9905 | €-21k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed36
/ 100
Weak
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
9 directorsCurrent directors & mandates
-
Current10-06-2026 → present
-
LT CAPITAL & ADVICELegal entityDirector· perm. rep.: Jean-Marie de BuckState Gazette act 24096626 (27-06-2024)Current14-05-2018 → present
3 events
- 03-05-2024 Mandate renewed· Director
- 03-05-2024 Appointed· Director
- 14-05-2018 Appointed· Director
-
Current12-06-2013 → present
5 events
- 03-05-2024 Mandate renewed· Director
- 03-05-2024 Appointed· Managing director
- 27-07-2015 Mandate renewed· Managing director
- 01-04-2014 Appointed· Managing director
- 12-06-2013 Appointed· Director
Historic, not recently confirmed (3)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
Gentvest NVLegal entityDirector· perm. rep.: Katia De GeyterState Gazette act 16079576 (10-06-2016)Not recently confirmedlast confirmed in an act from 2016
2 events
- 09-05-2016 Mandate renewed· Director
- 09-05-2016 Mandate renewed· Managing director
-
Not recently confirmedlast confirmed in an act from 2016
-
Not recently confirmedlast confirmed in an act from 2012
Former directors (3)
-
Former14-05-2018 → 10-06-2026
4 events
- 10-06-2026 Resigned· Director
- 03-05-2024 Resigned· Director
- 03-05-2024 Mandate renewed· Director
- 14-05-2018 Appointed· Director
-
Elji BVBALegal entityDirector· perm. rep.: Ignace Van OverbekeState Gazette act 14116139 (13-06-2014)Former- → 01-04-2014
-
Thiale BVBALegal entityDirector· perm. rep.: Nathalie VandammeState Gazette act 14116139 (13-06-2014)Former- → 01-04-2014
2 events
- 01-04-2014 Resigned· Director
- 01-04-2014 Resigned· Managing director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
3 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| Finvision Bedrijfsrevisoren Waregem BVCurrent Statutory auditor · represented by Christophe De Paepe |
- | 19-10-2022 → present |
| BV Finvision Bedrijfsrevisoren Statutory auditor · represented by Christophe De Paepe succeeded by Finvision Bedrijfsrevisoren Waregem BV in 2022 |
- | 06-06-2019 → 19-10-2022 |
| Finvision Bedrijfsrevisoren Statutory auditor · represented by Christophe De Paepe succeeded by BV Finvision Bedrijfsrevisoren in 2019 |
- | 10-06-2016 → 06-06-2019 |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Handel in eigen onroerend goed(68110) |
| Legal form | Public limited company(014) |
| Incorporation | 03-10-2006 |
| Status | Active |
| Postal code | 9770 |
Structure & network
Connections & network
5 connected companiesGroup structure
Parent · 99 subsidiaries · 6 locations
Control→
Parent · 3 subsidiaries · 1 location
Control→
Parent · 3 subsidiaries · 2 locations
Control→
Network connections
Shared corporate director
→
Shared corporate director
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 location-
since 20062.157.725.903
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area1,649 m²
Buildings2
Building footprint341 m²
Volume (LiDAR)1,641 m³
Tallest building8.5 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45017B0589/00P002 | Flanders | 1,111 m² | 1 · 186 m² | 8.1 m · 2 fl. |
| 45017B0586/00K002 | Flanders | 538 m² | 1 · 156 m² | 8.5 m · 1 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgian State Gazette · acts
1 verified actWhat every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.
2026
28-07-2026
General meeting · Board meeting · Director resignation
- General meeting , 10/07/2026
- Board meeting , 10/07/2026
- Director resignation, GENTVEST (bestuurder en gedelegeerd bestuurder)
- Director resignation, LT CAPITAL & ADVICE (bestuurder)
- Director resignation, Steven Algoet (bestuurder)
- Director appointment, Sedasko (bestuurder)
+6 further facts
Analysis
Snowflake analysis
financial profile on 5 axes57
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
36
Profitability
35
Solvency
43
Growth
70
Stability
100
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Credit advice
verdict per customer and amountSimilar
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Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Handel in eigen onroerend goed68100Handel in eigen onroerend goed68110Managementactiviteiten van holdings74151Holdings64200Activiteiten van holdings64210Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990
Primary activity highlighted.
Names & trade names
| Legal nameNL | ELATAN |
Registered office
Groenenweg(KRU) 19 bus B
9770 Kruisem, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.