ACTIVE

ELSEN

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Financial year 2025 · closed on 30/06/2025

Net result

982,7 k €

+22.1% YoY

Gross margin

3,3 M €

+9.1% YoY

Equity

7,3 M €

+6.7% YoY

Workforce

42,4 ETP

+0.7% YoY

What does ELSEN do?

ELSEN is a Public limited company incorporated in 1970. Its registered office is in Amel. It employs on average 42,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0407.924.986

Incorporation

30/12/1970

Legal form

Public limited company

Registered office

Heppenbach,Lehmkaul 41
4770 Amel · Wallonie

Contributed capital

248 000,00 €

Latest accounts

30/06/2025

Average workforce

42,4 ETP

Joint committees (4)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	3,3 M €	+9.1%	3 M €	-17.3%	3,6 M €	+0.4%	3,6 M €	+12.3%	3,2 M €	+13.0%	2,8 M €	+17.4%	2,4 M €	-5.9%	2,6 M €	+23.1%	2,1 M €	-18.6%	2,6 M €	-17.8%	3,1 M €	+14.5%	2,7 M €	-12.5%	3,1 M €	+15.2%	2,7 M €	-6.3%	2,9 M €	+17.3%	2,4 M €	-26.6%	3,3 M €	+11.0%	3 M €
EBITDA	1,4 M €	+32.4%	1,1 M €	-40.3%	1,8 M €	-3.7%	1,9 M €	+46.6%	1,3 M €	+25.3%	1 M €	+32.0%	769,8 k €	-12.1%	875,7 k €	+161%	336 k €	-53.0%	714,8 k €	-24.3%	944,2 k €	-15.6%	1,1 M €	-15.9%	1,3 M €	+22.8%	1,1 M €	-16.9%	1,3 M €	+33.5%	978,1 k €	-39.8%	1,6 M €	+23.5%	1,3 M €
Operating result	1,2 M €	+27.4%	908,7 k €	-42.7%	1,6 M €	+2.6%	1,5 M €	+68.9%	915,7 k €	+47.3%	621,6 k €	+13.1%	549,7 k €	-12.0%	624,5 k €	+328%	146 k €	-69.8%	483,5 k €	-25.2%	646 k €	-24.7%	857,6 k €	-20.9%	1,1 M €	+30.1%	833,3 k €	-21.5%	1,1 M €	+46.0%	727,4 k €	-46.7%	1,4 M €	+27.7%	1,1 M €
Net result	982,7 k €	+22.1%	805 k €	-37.3%	1,3 M €	+6.6%	1,2 M €	+65.3%	728,4 k €	+30.9%	556,2 k €	+4.3%	533,4 k €	-7.2%	574,6 k €	+6015%	9,4 k €	-97.7%	411,6 k €	-32.4%	608,6 k €	-25.3%	814,6 k €	-70.1%	2,7 M €	+296%	687 k €	-22.7%	888,8 k €	+33.5%	666 k €	-33.9%	1 M €	+31.5%	766,7 k €
Balance sheet
Equity	7,3 M €	+6.7%	6,9 M €	+3.5%	6,6 M €	+4.5%	6,3 M €	-11.1%	7,1 M €	+3.0%	6,9 M €	-24.4%	9,2 M €	+2.6%	8,9 M €	+3.2%	8,7 M €	+0.1%	8,7 M €	+3.5%	8,4 M €	+6.2%	7,9 M €	+7.9%	7,3 M €	+44.2%	5,1 M €	+10.9%	4,6 M €	+14.4%	4 M €	+20.8%	3,3 M €	+27.2%	2,6 M €
Total assets	10 M €	+16.0%	8,6 M €	-4.6%	9,1 M €	-6.9%	9,7 M €	+1.2%	9,6 M €	+10.1%	8,7 M €	-20.2%	10,9 M €	-0.5%	11 M €	+12.6%	9,8 M €	+0.3%	9,7 M €	-1.1%	9,8 M €	+4.2%	9,5 M €	-3.8%	9,8 M €	+17.0%	8,4 M €	+25.6%	6,7 M €	-6.7%	7,2 M €	-0.7%	7,2 M €	+30.7%	5,5 M €
Cash	1 M €	+53.9%	675,7 k €	-45.3%	1,2 M €	+19.8%	1 M €	-45.1%	1,9 M €	-36.3%	2,9 M €	-37.2%	4,7 M €	+17.3%	4 M €	+210%	1,3 M €	-41.0%	2,2 M €	+191%	752,9 k €	-4.2%	785,9 k €	+0.4%	782,4 k €	+951%	74,5 k €	-28.8%	104,5 k €	-33.4%	157,1 k €	+281%	41,2 k €	-76.3%	174,1 k €
Debts	2,7 M €	+52.4%	1,8 M €	-26.7%	2,4 M €	-28.3%	3,4 M €	+37.0%	2,5 M €	+37.7%	1,8 M €	+1.7%	1,8 M €	-13.8%	2 M €	+87.5%	1,1 M €	+2.8%	1,1 M €	-27.8%	1,5 M €	-6.0%	1,6 M €	-37.7%	2,5 M €	-23.4%	3,3 M €	+58.3%	2,1 M €	-34.0%	3,1 M €	-18.5%	3,9 M €	+34.2%	2,9 M €
Other
Workforce	42,4 ETP	+0.7%	42,1 ETP	+4.2%	40,4 ETP	-10.4%	45,1 ETP	-1.5%	45,8 ETP	-0.9%	46,2 ETP	0.0%	46,2 ETP	-2.7%	47,5 ETP	-7.4%	51,3 ETP	-3.9%	53,4 ETP	-1.8%	54,4 ETP	+3.4%	52,6 ETP	-0.8%	53,0 ETP	+6.6%	49,7 ETP	+4.2%	47,7 ETP	0.0%	47,7 ETP	-5.2%	50,3 ETP	-2.1%	51,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 5 active · 25 ended

Active mandates

3L-SEN INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.281

Represented by Michael ELSEN

Active

EE-INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.083

Represented by Eric ELSEN

Active

ELJU INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.870.885

Represented by Julian ELSEN

Active

EMA-INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.870.984

Represented by Markus Elsen

Active

GEMI INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.182

Represented by Gert ELSEN

Active

Ended mandates

Markus ELSEN

Managing director · since 02 septembre 2016 · until 11 décembre 2020

Ended

Eric ELSEN

Managing director · since 25 juin 2015 · until 11 décembre 2020

Ended

Eric ELSEN

Managing director · since 25 juin 2015 · until 12 décembre 2020

Ended

Freddy ELSEN

Director · since 12 décembre 2014 · until 11 décembre 2020

Ended

At this address

Other companies at this address

Company	CBE no.
Arbeitsgemeinschaft Elsen-Trageco● Active	0763.527.283
ELS INVEST● Active	0770.270.961
Société momentanée ELSEN-CONVENTS● Active	0782.336.474
VALERN● Active	0432.445.202

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/01/2026	31/01/2025	30/01/2024	16/01/2023	25/01/2022	22/01/2021
General meeting	12/12/2025	13/12/2024	08/12/2023	09/12/2022	10/12/2021	11/12/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	12/12/2025	26/01/2026	German	PDF
Abridged model	30/06/2024	13/12/2024	31/01/2025	German	PDF
Abridged model	30/06/2023	08/12/2023	30/01/2024	German	PDF
Abridged model	30/06/2022	09/12/2022	16/01/2023	German	PDF
Abridged model	30/06/2021	10/12/2021	25/01/2022	German	PDF
Abridged model	30/06/2020	11/12/2020	22/01/2021	German	PDF
Abridged model	30/06/2019	13/12/2019	14/01/2020	German	PDF
Abridged model	30/06/2018	14/12/2018	30/01/2019	German	PDF
Abridged model	30/06/2017	08/12/2017	29/01/2018	German	PDF
Abridged model	30/06/2016	09/12/2016	13/01/2017	German	PDF
Abridged model	30/06/2015	11/12/2015	12/01/2016	German	PDF
Abridged model	30/06/2014	12/12/2014	12/01/2015	German	PDF
Abridged model	30/06/2013	13/12/2013	07/01/2014	German	PDF
Abridged model	30/06/2012	14/12/2012	22/01/2013	German	PDF
Abridged model	30/06/2011	09/12/2011	13/01/2012	German	PDF
Abridged model	30/06/2010	10/12/2010	11/01/2011	German	PDF
Abridged model	30/06/2009	11/12/2009	16/12/2009	German	PDF
Abridged model	30/06/2008	12/12/2008	15/12/2008	German	PDF
Abridged model	30/06/2007	14/12/2007	02/01/2008	German	PDF
Abridged model	30/06/2006	08/12/2006	22/01/2007	German	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/06/2025 · 5 active · 25 ended

Active mandates

3L-SEN INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.281

Represented by Michael ELSEN

Active

EE-INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.083

Represented by Eric ELSEN

Active

ELJU INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.870.885

Represented by Julian ELSEN

Active

EMA-INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.870.984

Represented by Markus Elsen

Active

GEMI INVEST

Managing director · since 30 juin 2021 · until 11 décembre 2026 · 0769.871.182

Represented by Gert ELSEN

Active

Ended mandates

Markus ELSEN

Managing director · since 02 septembre 2016 · until 11 décembre 2020

Ended

Eric ELSEN

Managing director · since 25 juin 2015 · until 11 décembre 2020

Ended

Eric ELSEN

Managing director · since 25 juin 2015 · until 12 décembre 2020

Ended

Freddy ELSEN

Director · since 12 décembre 2014 · until 11 décembre 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/07/2021
SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, ) - GESELLSCHAFTSNAME - VERSCHIEDENES - GEGENSTAND - ENTLASSUNG - ERNENNUNG
PDF
Mandates21/01/2021
ENTLASSUNG - ERNENNUNG
PDF
Mandates13/12/2016
ENTLASSUNG - ERNENNUNG
PDF
Mandates16/07/2015
ENTLASSUNG - ERNENNUNG - GENERALVERSAMMLUNG - VERSCHIEDENES
PDF
Mandates11/04/2013
ENTLASSUNG - ERNENNUNG
PDF
Registered office22/02/2012
GESELLSCHAFTSSITZ
PDF
Mandates24/12/2008
ENTLASSUNG - ERNENNUNG
PDF
Capital / shares08/09/2004
GENERALVERSAMMLUNG - KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025982,7 k €↑
2024
Annual accounts 2024805 k €↓
2023
Annual accounts 20231,3 M €↑
2022
Annual accounts 20221,2 M €↑
2021
Annual accounts 2021728,4 k €↑
2019
Annual accounts 2019556,2 k €↑
2018
Annual accounts 2018533,4 k €↓
2017
Annual accounts 2017574,6 k €↑
2016
Annual accounts 20169,4 k €↓
2015
Annual accounts 2015411,6 k €↓
2014
Annual accounts 2014608,6 k €↓
2013
Annual accounts 2013814,6 k €↓
2012
Annual accounts 20122,7 M €↑
2011
Annual accounts 2011687 k €↓
2010
Annual accounts 2010888,8 k €↑
2009
Annual accounts 2009666 k €↓
2008
Annual accounts 20081 M €↑
2007
Annual accounts 2007766,7 k €
30/12/1970
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

ELSEN

Overview

What does ELSEN do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline