AIB
ActiveSummary
AIB has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13.2m and a net result of -€367,335. Equity is shrinking by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 22% of 313 sector peers (NACE 78, fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Financials · fiscal year 2025, full schema
In the rankings
#1 employer in West Flanders#2 company by total assets in West Flanders, Employment activities sector#4 company by equity in West Flanders, Employment activities sector
Turnover
€509.9m▲ 7.1%
2024 · €476.2m
EBIT margin
0.5%▲ 0.3pp
2024 · 0.2%
Net result
-€367,335▲ 74.1%
2024 · -€1.4m
Working capital
€3.0m▼ 86.8%
2024 · €22.4m
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result recovers in 2025; 2025 is 210% above 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Turnover€509.9m
2025
Operating result€2.3m
2025
Net result-€0.4m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€132.7m
2025
Equity€13.2m
2025
Debt€119.5m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€3.0m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin0.5%
2025
Return on assets (ROA)-0.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency9.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.03
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)8,852.8
2025
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 78, Employment activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€280.1m-€286.2m▲ 2.2%€265.9m▼ 7.1%€378.1m▲ 42.2%€428.9m▲ 13.4%€457.3m▲ 6.6%€476.2m▲ 4.1%€509.9m▲ 7.1%
Operating result€10.7m-€6.3m▼ 40.8%-€0.6m€0.3m€5.2m▲ 1,906%€4.2m▼ 18.9%€0.7m▼ 82.4%€2.3m▲ 210%
Net result€6.6m-€2.7m▼ 58.7%-€1.3mbelow the sector's middle half-€1.1mbelow the sector's middle half▲ 16.4%€2.2mabove the sector's middle half€0.9mabove the sector's middle half▼ 59.2%-€1.4mbelow the sector's middle half-€0.4mbelow the sector's middle half▲ 74.1%
EBIT margin3.8%-2.2%▼ 1.6pp-0.2%▼ 2.4pp0.1%▲ 0.3pp1.2%▲ 1.2pp0.9%▼ 0.3pp0.2%▼ 0.8pp0.5%▲ 0.3pp
Equity€20.5m-€22.3m▲ 9.2%€20.5mabove the sector's middle half▼ 8.2%€14.4mabove the sector's middle half▼ 29.7%€15.3mabove the sector's middle half▲ 5.8%€16.1mabove the sector's middle half▲ 5.8%€14.2mabove the sector's middle half▼ 12.0%€13.2mabove the sector's middle half▼ 7.0%
Total assets€72.9m-€77.9m▲ 6.9%€84.8mabove the sector's middle half▲ 8.8%€98.9mabove the sector's middle half▲ 16.6%€91.9mabove the sector's middle half▼ 7.1%€99.9mabove the sector's middle half▲ 8.7%€118.1mabove the sector's middle half▲ 18.2%€132.7mabove the sector's middle half▲ 12.4%
Debt€52.3m-€55.6m▲ 6.2%€64.3m▲ 15.7%€84.5m▲ 31.3%€76.6m▼ 9.3%€83.8m▲ 9.3%€103.9m▲ 24.1%€119.5m▲ 15.0%
Working capital€20.0m--€4.4m-€2.1mbelow the sector's middle half▲ 52.2%-€11.8mbelow the sector's middle half▼ 457%€23.7mabove the sector's middle half€20.7mabove the sector's middle half▼ 12.6%€22.4mabove the sector's middle half▲ 7.9%€3.0mabove the sector's middle half▼ 86.8%
Solvency28.1%-28.7%▲ 0.6pp24.2%within the sector's middle half▼ 4.5pp14.6%below the sector's middle half▼ 9.6pp16.6%within the sector's middle half▲ 2.0pp16.2%within the sector's middle half▼ 0.4pp12.0%within the sector's middle half▼ 4.1pp9.9%below the sector's middle half▼ 2.1pp
Current ratio1.40-0.92▼ 0.480.96below the sector's middle half▲ 0.050.86below the sector's middle half▼ 0.111.36within the sector's middle half▲ 0.501.27within the sector's middle half▼ 0.091.29within the sector's middle half▲ 0.031.03within the sector's middle half▼ 0.26
Return on assets (ROA)9.1%-3.5%▼ 5.6pp-1.5%below the sector's middle half▼ 5.0pp-1.1%below the sector's middle half▲ 0.4pp2.4%within the sector's middle half▲ 3.5pp0.9%within the sector's middle half▼ 1.5pp-1.2%within the sector's middle half▼ 2.1pp-0.3%within the sector's middle half▲ 0.9pp
Staff (FTE)7,763-6,265.9▼ 19.3%6,037.7above the sector's middle half▼ 3.6%8,146.1above the sector's middle half▲ 34.9%8,738.3above the sector's middle half▲ 7.3%8,438.9above the sector's middle half▼ 3.4%8,549above the sector's middle half▲ 1.3%8,852.8above the sector's middle half▲ 3.6%
above
within
below
the middle half (P25 to P75) of NACE 78, Employment activities, each year against the same schema; no band under 30 filings.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €132.7m
Fixed assets
€34.4m ▲ 82.1%
Current assets
€98.4m ▼ 0.9%
Equity and liabilities €132.7m
Equity
€13.2m ▼ 7.0%
Debt
€119.5m ▲ 15.0%
Debt's share of the balance-sheet total rises from 88.0% to 90.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.7m▲
2024 · €1.3m
Cash flow
€24,116▲
2024 · -€893,857
Debt to equity
9.05▲
2024 · 7.31
ROE
-2.8%▲
2024 · -10.0%
Interest coverage
1.78▲
2024 · 1.41
Debt ≤ 1 year
€95.4m▲
2024 · €76.9m
Debt > 1 year
€24.1m▼
2024 · €27.0m
Income taxes
€2.0m▲
2024 · €1.6m
Staff costs
€451.2m▲
2024 · €419.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 102 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 97% are still going.
- Large
- solvency under 10%
- a small loss
- without age
2.0%
went bankrupt
1.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,471 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 102 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €384.5m | €437.0m | €462.4m | €480.8m | €516.1m | ▲ 7.3% |
| Turnover70 | €280.1m | €286.2m | €265.9m | €378.1m | €428.9m | €457.3m | €476.2m | €509.9m | ▲ 7.1% |
| Other operating income74 | - | - | - | €6.4m | €8.0m | €4.9m | €4.7m | €6.2m | ▲ 32.8% |
| Non-recurring operating income76A | - | - | - | €0.03m | €0.2m | €0.2m | €0.03m | €0.002m | ▼ 91.5% |
| Operating charges60/66A | - | - | - | €384.3m | €431.8m | €458.1m | €480.1m | €513.8m | ▲ 7.0% |
| Services and other goods61 | - | - | - | €49.5m | €54.7m | €55.4m | €57.3m | €61.8m | ▲ 7.8% |
| Remuneration, social security and pensions62 | - | - | - | €334.1m | €376.4m | €400.3m | €419.4m | €451.2m | ▲ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.6m | €0.5m | €0.5m | €0.6m | €0.6m | €0.5m | €0.4m | ▼ 25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.05m | €0.04m | -€0.07m | €0.1m | €0.008m | ▼ 94.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.02m | -€0.003m | -€0.006m | -€0.008m | €0 | ▲ 100% |
| Other operating charges640/8 | - | - | - | €0.08m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 23.8% |
| Non-recurring operating charges66A | - | - | - | €0.004m | €0.002m | €1.6m | €2.5m | €0.2m | ▼ 91.8% |
| Operating profit (loss)9901 | €10.7m | €6.3m | -€0.6m | €0.3m | €5.2m | €4.2m | €0.7m | €2.3m | ▲ 210% |
| Financial income75/76B | - | - | - | €0.6m | €0.3m | €0.2m | €0.7m | €1.2m | ▲ 77.9% |
| Recurring financial income75 | €0.2m | €0.1m | €0.5m | €0.6m | €0.3m | €0.2m | €0.7m | €1.2m | ▲ 77.9% |
| Income from financial fixed assets750 | - | - | - | €0.4m | €0.2m | €0 | - | €1.1m | - |
| Income from current assets751 | - | - | - | €0.09m | €0.03m | €0.2m | €0.7m | €0.1m | ▼ 81.7% |
| Other financial income752/9 | - | - | - | €0.1m | €0.08m | €53 | €80 | €82 | ▲ 2.2% |
| Financial charges65/66B | - | - | - | €0.8m | €0.8m | €1.1m | €1.2m | €1.9m | ▲ 59.1% |
| Recurring financial charges65 | €0.4m | €0.7m | €0.5m | €0.8m | €0.8m | €1.1m | €1.2m | €1.9m | ▲ 59.1% |
| Debt charges650 | €0.1m | €0.1m | €0.2m | €0.5m | €0.4m | €0.4m | €0.9m | €1.5m | ▲ 68.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €0.07m | €0.02m | €0.5m | €0.1m | €0.1m | ▲ 26.4% |
| Other financial charges652/9 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | ▲ 28.5% |
| Non-recurring financial charges66B | - | - | - | €0.02m | €0.02m | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €10.5m | €5.8m | -€0.6m | €0.01m | €4.8m | €3.3m | €0.2m | €1.6m | ▲ 602% |
| Income taxes67/77 | €3.9m | €3.1m | €0.7m | €1.1m | €2.6m | €2.4m | €1.6m | €2.0m | ▲ 20.0% |
| Taxes670/3 | - | - | - | €1.1m | €2.6m | €2.4m | €1.6m | €2.0m | ▲ 20.0% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.002m | €17 | €0 | - | - | - |
| Profit (loss) for the period9904 | €6.6m | €2.7m | -€1.3m | -€1.1m | €2.2m | €0.9m | -€1.4m | -€0.4m | ▲ 74.1% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €0.9m | €0 | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €0.02m | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €6.6m | €1.9m | -€1.3m | -€1.1m | €2.2m | €1.8m | -€1.4m | -€0.4m | ▲ 74.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €72.9m | €77.9m | €84.8m | €98.9m | €91.9m | €99.9m | €118.1m | €132.7m | ▲ 12.4% |
| Fixed assets21/28 | €2.4m | €28.4m | €28.0m | €27.6m | €1.4m | €1.1m | €18.9m | €34.4m | ▲ 82.1% |
| Intangible fixed assets21 | €0.06m | €0.04m | €0.03m | €0.01m | €0.001m | €0.001m | €362 | €192 | ▼ 47.0% |
| Tangible fixed assets22/27 | €2.3m | €2.1m | €1.7m | €1.4m | €1.4m | €1.1m | €0.8m | €0.7m | ▼ 17.1% |
| Land and buildings22 | - | - | - | €0.2m | €0.1m | €0.09m | €0.05m | €0.008m | ▼ 82.8% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €330 | ▼ 52.9% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 30.6% |
| Other tangible fixed assets26 | - | - | - | €1.0m | €0.9m | €0.6m | €0.4m | €0.4m | ▲ 0.5% |
| Financial fixed assets28 | €0.04m | €26.3m | €26.3m | €26.3m | €0.04m | €0.04m | €18.1m | €33.7m | ▲ 86.6% |
| Affiliated companies280/1 | - | - | - | €26.3m | €0 | - | €18.0m | €33.7m | ▲ 86.8% |
| Amounts receivable281 | - | - | - | €26.3m | €0 | - | €18.0m | €33.7m | ▲ 86.8% |
| Other financial fixed assets284/8 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.02m | ▼ 31.2% |
| Shares284 | - | - | - | €0 | - | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.02m | ▼ 31.2% |
| Current assets29/58 | €70.5m | €49.5m | €56.8m | €71.2m | €90.5m | €98.8m | €99.2m | €98.4m | ▼ 0.9% |
| Stocks and contracts in progress3 | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €56.6m | €42.6m | €54.2m | €69.5m | €89.2m | €98.1m | €97.9m | €97.6m | ▼ 0.2% |
| Trade receivables40 | - | - | - | €67.0m | €84.9m | €95.7m | €94.8m | €95.0m | ▲ 0.2% |
| Other amounts receivable41 | - | - | - | €2.5m | €4.4m | €2.4m | €3.1m | €2.6m | ▼ 14.8% |
| Cash at bank and in hand54/58 | €13.4m | €6.2m | €2.3m | €1.4m | €1.1m | €0.5m | €1.1m | €0.6m | ▼ 47.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 43.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €72.9m | €77.9m | €84.8m | €98.9m | €91.9m | €99.9m | €118.1m | €132.7m | ▲ 12.4% |
| Equity10/15 | €20.5m | €22.3m | €20.5m | €14.4m | €15.3m | €16.1m | €14.2m | €13.2m | ▼ 7.0% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €1.1m | €1.1m | €14.4m | €15.2m | €16.1m | €14.1m | €13.1m | ▼ 7.1% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €1.1m | €1.1m | €0.3m | €0.3m | €0.3m | = |
| Distributable reserves133 | - | - | - | €13.2m | €14.1m | €15.8m | €13.9m | €12.9m | ▼ 7.2% |
| Profit (loss) carried forward14 | €20.2m | €21.2m | €19.3m | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | €0.1m | €0 | - | €0.02m | €0.01m | €0.008m | €0 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.02m | €0.01m | €0.008m | €0 | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.02m | €0.01m | €0.008m | €0 | - | - |
| Amounts payable17/49 | €52.3m | €55.6m | €64.3m | €84.5m | €76.6m | €83.8m | €103.9m | €119.5m | ▲ 15.0% |
| Amounts payable after more than one year17 | €1.8m | €1.6m | €5.3m | €1.1m | €9.8m | €5.7m | €27.0m | €24.1m | ▼ 10.8% |
| Financial debts170/4 | - | - | - | €1.1m | €9.8m | €3.8m | €26.6m | €24.1m | ▼ 9.2% |
| Credit institutions173 | - | - | - | €1.1m | €0.8m | €0.6m | €0.3m | €0.06m | ▼ 80.4% |
| Other loans174 | - | - | - | - | €9.0m | €3.2m | €26.3m | €24.1m | ▼ 8.4% |
| Other amounts payable178/9 | - | - | - | €0 | - | €1.9m | €0.5m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €50.5m | €54.0m | €59.0m | €83.1m | €66.8m | €78.1m | €76.9m | €95.4m | ▲ 24.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 8.4% |
| Financial debts43 | - | - | - | €3.3m | €3.3m | €1 | €0 | - | - |
| Credit institutions430/8 | - | - | - | €3.3m | €3.3m | €1 | €0 | - | - |
| Trade debts44 | €4.2m | €13.4m | €11.5m | €15.2m | €9.7m | €16.0m | €16.5m | €32.8m | ▲ 99.3% |
| Suppliers440/4 | - | - | - | €15.2m | €9.7m | €16.0m | €16.5m | €32.8m | ▲ 99.3% |
| Advances received on contracts in progress46 | - | - | - | €0.01m | €0.004m | €0.01m | €0.007m | €1.0m | ▲ 13,444% |
| Taxes, remuneration and social security45 | - | - | - | €59.2m | €51.8m | €61.8m | €59.4m | €60.7m | ▲ 2.1% |
| Taxes450/3 | - | - | - | €10.0m | €10.2m | €10.4m | €10.2m | €9.7m | ▼ 4.8% |
| Remuneration and social security454/9 | - | - | - | €49.1m | €41.5m | €51.4m | €49.2m | €51.0m | ▲ 3.6% |
| Other amounts payable47/48 | - | - | - | €5.1m | €1.8m | €90 | €0.7m | €0.6m | ▼ 9.6% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.01m | €0 | €0.006m | €0.006m | ▼ 1.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6.6m | €2.7m | -€1.3m | -€1.1m | €2.2m | €0.9m | -€1.4m | -€0.4m | ▲ 74.1% |
| + Depreciation and write-downs630 | €0.6m | €0.6m | €0.5m | €0.5m | €0.6m | €0.6m | €0.5m | €0.4m | ▼ 25.6% |
| Operating cash flow (approximation) | €7.2m | €3.3m | -€0.8m | -€0.6m | €2.7m | €1.5m | -€0.9m | €0.02m | ▲ 103% |
| Investment in fixed assets (approximation) | - | -€26.6m | -€0.1m | -€0.2m | €25.7m | -€0.3m | -€18.3m | -€15.9m | ▲ 13.1% |
| Change in cash | - | -€7.2m | -€3.9m | -€0.9m | -€0.3m | -€0.6m | €0.7m | -€0.5m | ▼ 179% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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LINALUX GESTION
BE 0415.087.843
Sainte-Ode · Eq €11,192,154
Sodiwe
BE 0413.278.990
Mechelen · Eq €11,005,639
Of 1,014 companies in this sector we hold annual accounts for 652. 94 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 15 entries · €6.4m awarded · €6.4m paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 5 | €1.4m | €1.4m |
| 2024 | 4 | €0.3m | €0.3m |
| 2023 | 3 | €2.7m | €2.7m |
| 2022 | 3 | €2.0m | €2.0m |
European Union, budget
2025 · 5 entries · €113,889 in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 5 | €113,889 |
Projects
PROVISION OF INTERIMAIRE SERVICES