Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ELSACY from Antwerpen, company number BE0695857511, closed financial year 2025 with a result of € 117,806 after tax. For that financial year ELSACY recorded a gross margin of € 14,912 and equity of € 2.5 million. Compared with financial year 2024, the result moved from € 2.6 million to € 117,806. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 2.5 million
▼ 23% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 117,806
▼ 96% vs 2024
Profit after tax over the fiscal year.
€ 70,103
▲ 95% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 846,860 paid out
More than the year’s profit went to the shareholders; reserves fell.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 786
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 34,536 | € 28,472 | € -219,210 | € 14,912 | ▲ € 234,122 |
| Profit after taxes | € 509,483 | € 505,319 | € 2,648,578 | € 117,806 | ▼ 96% |
| Equity | € 4,193,144 | € 2,833,477 | € 3,182,055 | € 2,453,000 | ▼ 23% |
| Total debts | € 1,236,594 | € 2,164,374 | € 786 | € 847,647 | ▲ € 846,860 |
| Cash | € 498,964 | € 61,409 | € 35,943 | € 70,103 | ▲ 95% |
| Retained profit | € 1,963,144 | € 603,477 | € 952,055 | € 223,000 | ▼ 77% |
| Dividend | € 0 | € 1,864,987 | € 2,300,000 | € 846,860 | ▼ 63% |
| Bank debt | € 1,220,000 | € 970,000 | € 0 | € 0 | |
| Balance sheet total | € 5,429,738 | € 4,997,851 | € 3,182,841 | € 3,300,647 | ▲ 4% |
Key figures of ELSACY, 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 ELSACY?
What happened at ELSACY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Pieter Walravens BV stepped down as director. NBB
- THINK2ACT PARTNERS BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 117,806 (▼ 96% vs 2024). Source: NBB ↗
- New establishment in Antwerpen. KBO
- Pieter Walravens BV became a director. NBB
- THINK2ACT PARTNERS BV became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 509,483 profit in 2022 to € 117,806 profit in 2025.
Best year ever: 2024, with € 2.6 million profit.
Paid out € 5 million in dividends to the owners in total.
A new publication or filing at ELSACY? 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
The stake of THINK2ACT CAPITAL comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ELSACYThe shares are held by THINK2ACT CAPITAL (100%). It owns 11% of Elsyca International BV itself.
Directors
According to the 2025 annual accounts
Director · represented by Pieter WALRAVENS
Also active at: TR INVEST, Vetdis Holding, Pentapack Group, VPIV, Vanelic, 4TheFuture Group, The Sealants Group, Expertum Group +2 more
since 2018 · until 2028
Managing director · represented by Jo BREESCH
Also active at: SILMACO, TR INVEST, Think2Act Investment Fund, PFSIC, SMG Group, Trihold, VPIV, Valpeo Holding +6 more
since 2018 · until 2028
Shareholders
100%
Participations
Establishments
Establishment units
Physical locations of this company
Bosmanslei 20
2018 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →JBRI
€ -2,035 gross margin · 2025
Think2Act Investment Fund same network
€ -88 gross margin · 2025
PFSIC same network
€ -88 gross margin · 2025
4Nature
€ -1,521 gross margin · 2025
THINK2ACT PARTNERS same network
€ 455,007 gross margin · 2025
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0695.857.511
- VAT number
- BE 0695.857.511
- Registered office
- Bosmanslei 20, 2018 Antwerpen
- Names & denominations
- ELSACY
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 May 2018
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
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