ACTIVE

ELMORE

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Financial year 2025 · closed on 31/12/2025

Net result

122,7 k €

-5.3% YoY

Gross margin

186,2 k €

-5.3% YoY

Equity

478,9 k €

-0.4% YoY

What does ELMORE do?

ELMORE is a Private limited company incorporated in 2006.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0878.484.062

Incorporation

10/01/2006

Legal form

Private limited company

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	186,2 k €	-5.3%	196,6 k €	+1.9%	192,9 k €	+18.8%	162,4 k €	+109%	77,8 k €	-10.9%	87,4 k €	-6.4%	93,3 k €	+50.3%	62,1 k €	+36.3%	45,5 k €	-20.7%	57,4 k €	+110%	27,4 k €	-46.1%	50,9 k €	+5.2%	48,4 k €	-12.0%	55 k €	+91.3%	28,7 k €	+28.7%	22,3 k €	-20.8%	28,2 k €	+22.2%	23,1 k €	-14.4%	26,9 k €	+18.2%	22,8 k €
EBITDA	185 k €	-3.1%	190,8 k €	+9.2%	174,8 k €	+9.0%	160,4 k €	+180%	57,2 k €	-14.6%	67 k €	-27.6%	92,6 k €	+51.4%	61,2 k €	+35.5%	45,1 k €	-8.9%	49,6 k €	+83.9%	27 k €	-52.5%	56,8 k €	+18.2%	48 k €	-12.2%	54,7 k €	+108%	26,3 k €	+60.1%	16,4 k €	-29.1%	23,2 k €	+2.7%	22,5 k €	-14.4%	26,3 k €	+21.0%	21,8 k €
Operating result	178,4 k €	-3.1%	184,1 k €	+8.1%	170,3 k €	+9.6%	155,4 k €	+200%	51,7 k €	-13.5%	59,8 k €	-29.7%	85,2 k €	+56.5%	54,4 k €	+41.0%	38,6 k €	-8.8%	42,3 k €	+133%	18,2 k €	-55.4%	40,8 k €	+32.3%	30,8 k €	-8.8%	33,8 k €	+148%	13,6 k €	+140%	5,7 k €	-54.2%	12,4 k €	-7.2%	13,4 k €	-22.4%	17,2 k €	+20.0%	14,4 k €
Net result	122,7 k €	-5.3%	129,6 k €	+11.3%	116,4 k €	+13.9%	102,2 k €	+227%	31,3 k €	-27.8%	43,3 k €	-31.9%	63,6 k €	+554%	-14 k €	-174%	18,9 k €	-24.6%	25,1 k €	+163%	9,5 k €	-59.1%	23,3 k €	+76.8%	13,2 k €	-35.3%	20,3 k €	+145%	8,3 k €	+637%	1,1 k €	-88.1%	9,4 k €	+1.4%	9,3 k €	-21.8%	11,9 k €	+24.1%	9,6 k €
Balance sheet
Equity	478,9 k €	-0.4%	480,8 k €	+36.9%	351,3 k €	+49.6%	234,9 k €	+55.8%	150,7 k €	+4.9%	143,6 k €	+16.1%	123,7 k €	+48.5%	83,3 k €	-14.4%	97,3 k €	+22.9%	79,2 k €	+44.2%	54,9 k €	+18.9%	46,2 k €	+94.7%	23,7 k €	+109%	11,4 k €	-77.7%	51 k €	+17.2%	43,5 k €	+0.7%	43,2 k €	+25.0%	34,6 k €	+32.6%	26,1 k €	+74.1%	15 k €
Total assets	649,7 k €	+16.5%	557,8 k €	+20.8%	461,7 k €	+28.6%	358,9 k €	+30.9%	274,2 k €	+10.3%	248,6 k €	+37.8%	180,4 k €	+26.5%	142,6 k €	+8.5%	131,4 k €	-1.3%	133,2 k €	+17.4%	113,5 k €	-15.0%	133,6 k €	+0.4%	133 k €	-12.4%	151,8 k €	+67.0%	90,9 k €	+3.6%	87,7 k €	+5.7%	83 k €	+54.8%	53,6 k €	+20.2%	44,6 k €	+38.0%	32,3 k €
Cash	581,2 k €	+25.0%	465,1 k €	+12.5%	413,5 k €	+29.6%	319,1 k €	+30.9%	243,7 k €	+25.3%	194,6 k €	+138%	81,7 k €	-6.5%	87,3 k €	+37.3%	63,6 k €	-17.6%	77,2 k €	+37.4%	56,2 k €	-19.0%	69,4 k €	+13.4%	61,2 k €	+46.0%	41,9 k €	+14.5%	36,6 k €	+46.5%	25 k €	-15.7%	29,7 k €	-9.9%	32,9 k €	+89.3%	17,4 k €	+216%	5,5 k €
Debts	166,9 k €	+127%	73,5 k €	-31.2%	106,8 k €	-13.9%	124,1 k €	+0.4%	123,5 k €	+17.6%	105 k €	+85.2%	56,7 k €	-4.5%	59,3 k €	+73.9%	34,1 k €	-36.9%	54 k €	-7.8%	58,6 k €	-33.0%	87,4 k €	-15.1%	103 k €	-22.9%	133,6 k €	+305%	33 k €	-14.3%	38,5 k €	-1.8%	39,2 k €	+106%	19 k €	+2.6%	18,5 k €	+6.8%	17,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Sebastien Morel

Director · since 10 janvier 2006

Active

Ended mandates

Sebastien Morel

Manager

Ended

SEBASTIEN MOREL

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/06/2026	27/05/2025	04/07/2024	31/07/2023	01/07/2022	07/07/2021
General meeting	19/06/2026	23/05/2025	30/06/2024	23/06/2023	10/06/2022	11/06/2021
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
Micro model	31/12/2025	19/06/2026	23/06/2026	Dutch	PDF
Micro model	31/12/2024	23/05/2025	27/05/2025	Dutch	PDF
Micro model	31/12/2023	30/06/2024	04/07/2024	Dutch	PDF
Micro model	31/12/2022	23/06/2023	31/07/2023	Dutch	PDF
Micro model	31/12/2021	10/06/2022	01/07/2022	Dutch	PDF
Micro model	31/12/2020	11/06/2021	07/07/2021	Dutch	PDF
Micro model	31/12/2019	05/06/2020	06/07/2020	Dutch	PDF
Micro model	31/12/2018	17/05/2019	17/07/2019	Dutch	PDF
Micro model	31/12/2017	08/06/2018	29/06/2018	Dutch	PDF
Micro model	31/12/2016	19/05/2017	24/08/2017	Dutch	PDF
Abridged model	31/12/2015	20/05/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	16/05/2014	25/06/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	05/07/2012	Dutch	PDF
Abridged model	31/12/2010	20/05/2011	14/06/2011	Dutch	PDF
Abridged model	31/12/2009	30/03/2010	31/03/2010	Dutch	PDF
Abridged model	31/12/2008	15/05/2009	19/05/2009	Dutch	PDF
Abridged model	31/12/2007	16/05/2008	22/05/2008	Dutch	PDF
Abridged model	31/12/2006	18/05/2007	24/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/12/2025 · 1 active · 2 ended

Active mandates

Sebastien Morel

Director · since 10 janvier 2006

Active

Ended mandates

Sebastien Morel

Manager

Ended

SEBASTIEN MOREL

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office21/09/2026
ZETEL
PDF
Mandates21/11/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Other15/01/2013
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office05/08/2009
MAATSCHAPPELIJKE ZETEL
PDF
Other19/01/2006
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025122,7 k €↓
2024
Annual accounts 2024129,6 k €↑
2023
Annual accounts 2023116,4 k €↑
2022
Annual accounts 2022102,2 k €↑
2021
Annual accounts 202131,3 k €↓
2020
Annual accounts 202043,3 k €↓
2019
Annual accounts 201963,6 k €↑
2018
Annual accounts 2018-14 k €↓
2017
Annual accounts 201718,9 k €↓
2016
Annual accounts 201625,1 k €↑
2015
Annual accounts 20159,5 k €↓
2014
Annual accounts 201423,3 k €↑
2013
Annual accounts 201313,2 k €↓
2012
Annual accounts 201220,3 k €↑
2011
Annual accounts 20118,3 k €↑
2010
Annual accounts 20101,1 k €↓
2009
Annual accounts 20099,4 k €↑
2008
Annual accounts 20089,3 k €↓
2007
Annual accounts 200711,9 k €↑
2006
Annual accounts 20069,6 k €
10/01/2006
IncorporationPrivate 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

ELMORE

Overview

What does ELMORE do?

Trend over 20 financial years

Indicative valuation

Board of directors

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