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 1 % of short-term debt in 2025; threshold 65 %.
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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 2025
ELSO from Herstal, company number BE0473868259, closed financial year 2025 with a result of € 17,307 after tax. For that financial year ELSO recorded revenue of € 68,000 and equity of € -103,179. Compared with financial year 2024, the result moved from € 22,971 to € 17,307. The company is profitable. 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, 2026.
€ -103,179
▲ € 17,307 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 17,307
▼ 25% vs 2024
Profit after tax over the fiscal year.
€ 3,778
▼ 91% 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 € -288,053.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 11,622
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 106,266
▼ 9% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 32,870 | € 56,000 | € 99,347 | € 68,000 | ▼ 32% |
| Gross margin | € 31,797 | € 49,812 | € 56,348 | € 58,600 | ▲ 4% |
| Profit after taxes | € -161,006 | € 2,356 | € 22,971 | € 17,307 | ▼ 25% |
| Equity | € -145,813 | € -143,457 | € -120,486 | € -103,179 | ▲ € 17,307 |
| Total debts | € 540,067 | € 629,372 | € 600,305 | € 511,454 | ▼ 15% |
| Cash | € 3,856 | € 6,560 | € 41,952 | € 3,778 | ▼ 91% |
| Land & buildings | € 390,398 | € 459,726 | € 435,867 | € 404,497 | ▼ 7% |
| Retained profit | € -330,687 | € -328,331 | € -305,360 | € -288,053 | ▲ € 17,307 |
| Balance sheet total | € 394,254 | € 485,915 | € 479,819 | € 408,275 | ▼ 15% |
Key figures of ELSO, 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 ELSO?
What happened at ELSO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 17,307 (▼ 25% vs 2024). filed late Source: NBB ↗
- Rüveyda ZORLU became a director. NBB
- New establishment in Herstal. KBO
- Start of the company according to the CBE. KBO
In short
From € 161,006 loss in 2022 to € 17,307 profit in 2025.
Paid € 167,020 in corporate taxes since 2022.
Best year ever: 2024, with € 22,971 profit.
Management
Behind ELSO is Rüveyda ZORLU. Rüveyda ZORLU is also behind NUTRICOR.
Directors
According to the 2025 annual accounts
since 2024
Establishments
Establishment units
Physical locations of this company
Rue de l'Abbaye 35
4040 Herstal
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
- 0473.868.259
- VAT number
- BE 0473.868.259
- Registered office
- Rue de l'Abbaye 35, 4040 Herstal
- Names & denominations
- ELSO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 January 2001
- Peppol
- Not registered