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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 4 % of short-term debt in 2024; threshold 65 %.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2024.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2024
ELCO from Schaarbeek, company number BE0444051053, closed financial year 2024 with a result of € -53,169 after tax. For that financial year ELCO recorded a gross margin of € 311,854 and equity of € -1.1 million. Compared with financial year 2023, the result moved from € 63,090 to € -53,169. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 30, 2025.
€ -1.1 million
▼ € 101,060 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -53,169
▼ still € 63,090 profit in 2023
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
Debts at end 2024
€ 1.6 million
▼ 14% vs 2023
Loans from banks and other lenders, long and short.
€ 137,207
▲ 4% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 1,422
▲ 48% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 319,775 | - | - | - | |
| Gross margin | € 311,744 | € 720,073 | € 449,818 | € 311,854 | ▼ 31% |
| Profit after taxes | € -215,193 | € 260,518 | € 63,090 | € -53,169 | ▼ € 116,259 |
| Equity | € -1,261,567 | € -976,379 | € -961,179 | € -1,062,239 | ▼ € 101,060 |
| Total debts | € 6,099,944 | € 5,530,213 | € 5,257,199 | € 5,006,939 | ▼ 5% |
| Cash | - | € 2 | € 1,338 | - | |
| Land & buildings | € 5,013,789 | € 4,699,289 | € 4,384,789 | € 4,070,289 | ▼ 7% |
| Retained profit | € -1,323,540 | € -1,038,352 | € -1,023,153 | € -1,124,212 | ▼ € 101,060 |
| Bank debt | € 3,352,812 | € 2,422,437 | € 1,873,347 | € 1,610,170 | ▼ 14% |
| Balance sheet total | € 5,231,056 | € 4,921,842 | € 4,639,357 | € 4,263,367 | ▼ 8% |
Key figures of ELCO, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to ELCO?
What happened at ELCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- JOSEPH HADDAD stepped down as director. NBB
- ANNETTE BENCHIMOL stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 53,169 (▼ € 116,259 vs 2023). filed late Source: NBB ↗
- JOSEPH HADDAD became a director. NBB
- ANNETTE BENCHIMOL became a director. NBB
- New establishment in Schaarbeek. KBO
- Start of the company according to the CBE. KBO
In short
From € 215,193 loss in 2021 to € 53,169 loss in 2024.
Paid € 5,058 in corporate taxes since 2021.
Best year ever: 2022, with € 260,518 profit.
A new publication or filing at ELCO? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind ELCO is UNION FONCIERE SA. UNION FONCIERE SA is also behind LAUGAN.
Directors
According to the 2024 annual accounts
since 2022 · until 2028
since 2022 · until 2028
Establishments
Establishment units
Physical locations of this company
Eugène Demolderlaan 76
1030 Schaarbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0444.051.053
- VAT number
- BE 0444.051.053
- Registered office
- Eugène Demolderlaan 76, 1030 Schaarbeek
- Names & denominations
- ELCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 April 1991
- Peppol
- Not registered