Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ELSINA from Gent, company number BE0439152256, closed financial year 2025 with a result of € 1,165 after tax. For that financial year ELSINA recorded a gross margin of € 14,619 and equity of € 102,856. Compared with financial year 2024, the result moved from € -45,815 to € 1,165. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 30, 2026.
€ 102,856
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1,165
▲ still € 45,815 loss in 2024
Profit after tax over the fiscal year.
€ 131
▼ 59% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -844,226.
Debts at end 2025
€ 200,000
Loans from banks and other lenders, long and short.
€ 3,875
▲ 38% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -88,121 | € -17,415 | € -19,400 | € 14,619 | ▲ € 34,019 |
| Profit after taxes | € -137,926 | € -28,994 | € -45,815 | € 1,165 | ▲ € 46,980 |
| Equity | € 176,500 | € 147,506 | € 101,691 | € 102,856 | ▲ 1% |
| Total debts | € 2,240,231 | € 2,263,117 | € 2,311,833 | € 2,336,155 | ▲ 1% |
| Cash | € 41 | € 1,632 | € 320 | € 131 | ▼ 59% |
| Land & buildings | € 985,248 | € 985,248 | € 985,248 | € 985,248 | |
| Retained profit | € -770,582 | € -799,576 | € -845,391 | € -844,226 | |
| Bank debt | € 201,797 | € 200,000 | € 200,000 | € 200,000 | |
| Balance sheet total | € 2,416,731 | € 2,410,623 | € 2,413,524 | € 2,439,012 | ▲ 1% |
Key figures of ELSINA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ELSINA?
What happened at ELSINA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1,165. Source: NBB ↗
- Ina D'Haene became a director. NBB
- Els D'Haene became a director. NBB
- Hugo D'Haene became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 137,926 loss in 2022 to € 1,165 profit in 2025.
Best year ever: 2025, with € 1,165 profit.
Management
Behind ELSINA are Ina D'Haene, Els D'Haene and Hugo D'Haene.
Directors
According to the 2025 annual accounts
Ina D'Haene
Director
since 2015
Els D'Haene
Director
since 2015
Hugo D'Haene
Director
since 2015
Establishments
Establishment units
Physical locations of this company
Voorhoutkaai 12
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0439.152.256
- VAT number
- BE 0439.152.256
- Registered office
- Voorhoutkaai 12, 9000 Gent
- Names & denominations
- ELSINA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 5 December 1989
- Peppol
- Active · Active since 23 Jan 2026
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