ETS LEFEBVRE ANDRE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 9 filings
Turnover
≈ €160,000
Estimated: probably between €110,000 and €290,000
Total assets
€304,496▲ 3.1%
2024 · €295,223
Net result
€32,805▼ 0.1%
2024 · €32,832
Working capital
€123,070▲ 49.1%
2024 · €82,551
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€44,917
▲ 7.8%
2025
20192025
Net result
€32,805
▼ 0.1%
2025
middle half of the sector
20192025
Equity
€274,446
▲ 13.6%
2025
highest quarter of the sector
20192025
Total assets
€304,496
▲ 3.1%
2025
highest quarter of the sector
20192025
Debt
€30,049
▼ 43.9%
2025
20192025
Working capital
€123,070
▲ 49.1%
2025
highest quarter of the sector
20192025
Solvency
90.1%
▲ 8.3pp
2025
highest quarter of the sector
20192025
Current ratio
5.10
▲ 2.55
2025
highest quarter of the sector
20192025
Return on assets (ROA)
10.8%
▼ 0.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€36,905-€32,128▼ 12.9%€26,644▼ 17.1%€58,377▲ 119%€7,352▼ 87.4%€41,674▲ 467%€44,917▲ 7.8%
Net result€39,968-€25,497within the sector's middle half▼ 36.2%€20,646within the sector's middle half▼ 19.0%€45,616above the sector's middle half▲ 121%€6,560within the sector's middle half▼ 85.6%€32,832within the sector's middle half▲ 400%€32,805within the sector's middle half▼ 0.1%
Equity€110,490-€135,988above the sector's middle half▲ 23.1%€156,633above the sector's middle half▲ 15.2%€202,250above the sector's middle half▲ 29.1%€208,809above the sector's middle half▲ 3.2%€241,641above the sector's middle half▲ 15.7%€274,446above the sector's middle half▲ 13.6%
Total assets€273,721-€251,778within the sector's middle half▼ 8.0%€248,834within the sector's middle half▼ 1.2%€267,262within the sector's middle half▲ 7.4%€245,994within the sector's middle half▼ 8.0%€295,223above the sector's middle half▲ 20.0%€304,496above the sector's middle half▲ 3.1%
Debt€163,231-€115,791▼ 29.1%€92,201▼ 20.4%€65,013▼ 29.5%€37,185▼ 42.8%€53,582▲ 44.1%€30,049▼ 43.9%
Working capital-€6,004--€2,429below the sector's middle half▲ 59.5%€5,365within the sector's middle half€17,388within the sector's middle half▲ 224%€46,603within the sector's middle half▲ 168%€82,551within the sector's middle half▲ 77.1%€123,070above the sector's middle half▲ 49.1%
Solvency40.4%-54.0%within the sector's middle half▲ 13.6pp62.9%within the sector's middle half▲ 8.9pp75.7%above the sector's middle half▲ 12.7pp84.9%above the sector's middle half▲ 9.2pp81.9%above the sector's middle half▼ 3.0pp90.1%above the sector's middle half▲ 8.3pp
Current ratio0.93-0.97below the sector's middle half▲ 0.031.08below the sector's middle half▲ 0.111.27within the sector's middle half▲ 0.202.25within the sector's middle half▲ 0.982.54within the sector's middle half▲ 0.295.10above the sector's middle half▲ 2.55
Return on assets (ROA)14.6%-10.1%within the sector's middle half▼ 4.5pp8.3%within the sector's middle half▼ 1.8pp17.1%within the sector's middle half▲ 8.8pp2.7%within the sector's middle half▼ 14.4pp11.1%within the sector's middle half▲ 8.5pp10.8%within the sector's middle half▼ 0.3pp
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €304,496
Fixed assets
€151,377 ▼ 4.8%
Current assets
€153,119 ▲ 12.5%
Equity and liabilities €304,496
Equity
€274,446 ▲ 13.6%
Debt
€30,049 ▼ 43.9%
Debt's share of the balance-sheet total falls from 18.1% to 9.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53,215▲
2024 · €50,202
Cash flow
€41,103▼
2024 · €41,360
Debt to equity
0.11▼
2024 · 0.22
ROE
12.0%▼
2024 · 13.6%
Interest coverage
31.50▲
2024 · 26.62
Debt ≤ 1 year
€30,049▼
2024 · €53,582
Income taxes
€14,419▲
2024 · €10,299
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2025 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €22,704 | €9,626 | €5,412 | €584 |
| Depreciation and write-downs of the year | €9,735 | €8,017 | €8,528 | €8,298 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €946 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,374 | €9,313 | €9,313 | €9,735 | €8,017 | €8,528 | €8,298 | ▼ 2.7% |
| Other operating charges640/8 | - | - | - | €4,578 | €7,081 | €2,069 | €1,597 | ▼ 22.8% |
| Gross operating margin9900 | €48,125 | €42,436 | €36,991 | €72,690 | €22,449 | €52,271 | €54,812 | ▲ 4.9% |
| Operating profit (loss)9901 | €36,905 | €32,128 | €26,644 | €58,377 | €7,352 | €41,674 | €44,917 | ▲ 7.8% |
| Financial income75/76B | - | - | - | €3,338 | €3,858 | €3,343 | €3,997 | ▲ 19.5% |
| Recurring financial income75 | €3,101 | €2,892 | €3,600 | €3,338 | €3,858 | €3,343 | €3,997 | ▲ 19.5% |
| Financial charges65/66B | - | - | - | €1,895 | €1,309 | €1,886 | €1,689 | ▼ 10.4% |
| Recurring financial charges65 | €3,400 | €2,302 | €2,782 | €1,895 | €1,309 | €1,886 | €1,689 | ▼ 10.4% |
| Profit (loss) for the period before taxes9903 | €36,606 | €32,718 | €27,462 | €59,820 | €9,900 | €43,131 | €47,224 | ▲ 9.5% |
| Income taxes67/77 | -€3,362 | €7,221 | €6,816 | €14,204 | €3,340 | €10,299 | €14,419 | ▲ 40.0% |
| Profit (loss) for the period9904 | €39,968 | €25,497 | €20,646 | €45,616 | €6,560 | €32,832 | €32,805 | ▼ 0.1% |
| Profit (loss) for the period to be appropriated9905 | €39,968 | €25,497 | €20,646 | €45,616 | €6,560 | €32,832 | €32,805 | ▼ 0.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €273,721 | €251,778 | €248,834 | €267,262 | €245,994 | €295,223 | €304,496 | ▲ 3.1% |
| Fixed assets21/28 | €191,518 | €182,205 | €172,892 | €185,861 | €162,206 | €159,091 | €151,377 | ▼ 4.8% |
| Tangible fixed assets22/27 | €191,518 | €182,205 | €172,892 | €185,861 | €162,206 | €159,091 | €151,377 | ▼ 4.8% |
| Land and buildings22 | - | - | - | €161,500 | €155,800 | €150,100 | €144,400 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | - | - | €3,604 | €2,398 | €5,408 | €4,260 | ▼ 21.2% |
| Furniture and vehicles24 | - | - | - | €20,758 | €4,009 | €3,583 | €2,716 | ▼ 24.2% |
| Leasing and similar rights25 | - | - | - | €0 | - | - | - | - |
| Current assets29/58 | €82,203 | €69,573 | €75,942 | €81,401 | €83,788 | €136,133 | €153,119 | ▲ 12.5% |
| Amounts receivable within one year40/41 | €62,258 | €54,553 | €71,735 | €74,769 | €71,604 | €85,502 | €103,518 | ▲ 21.1% |
| Trade receivables40 | - | - | - | €15,157 | €15,570 | €22,618 | €30,510 | ▲ 34.9% |
| Other amounts receivable41 | - | - | - | €59,612 | €56,034 | €62,884 | €73,008 | ▲ 16.1% |
| Cash at bank and in hand54/58 | €19,796 | €15,020 | €4,207 | €6,632 | €11,021 | €49,413 | €48,095 | ▼ 2.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,163 | €1,218 | €1,506 | ▲ 23.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €273,721 | €251,778 | €248,834 | €267,262 | €245,994 | €295,223 | €304,496 | ▲ 3.1% |
| Equity10/15 | €110,490 | €135,988 | €156,633 | €202,250 | €208,809 | €241,641 | €274,446 | ▲ 13.6% |
| Contributions10/11 | €18,364 | - | - | €18,364 | €18,364 | €18,364 | €18,364 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €34,660 | ▲ 19× |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €34,660 | - |
| Profit (loss) carried forward14 | €90,266 | €115,764 | €136,410 | €182,026 | €188,586 | €221,418 | €221,422 | = |
| Amounts payable17/49 | €163,231 | €115,791 | €92,201 | €65,013 | €37,185 | €53,582 | €30,049 | ▼ 43.9% |
| Amounts payable after more than one year17 | €75,024 | €43,788 | €21,624 | €0 | - | - | - | - |
| Financial debts170/4 | - | - | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €88,207 | €72,003 | €70,577 | €64,013 | €37,185 | €53,582 | €30,049 | ▼ 43.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €21,624 | €0 | - | - | - |
| Trade debts44 | €14,384 | €9,270 | €19,591 | €7,105 | €10,909 | €22,946 | €2,254 | ▼ 90.2% |
| Suppliers440/4 | - | - | - | €7,105 | €10,909 | €22,946 | €2,254 | ▼ 90.2% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €35,283 | €26,275 | €30,636 | €27,796 | ▼ 9.3% |
| Taxes450/3 | - | - | - | €33,233 | €24,025 | €28,386 | €25,796 | ▼ 9.1% |
| Remuneration and social security454/9 | - | - | - | €2,050 | €2,250 | €2,250 | €2,000 | ▼ 11.1% |
| Accrued charges and deferred income492/3 | - | - | - | €1,000 | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,968 | €25,497 | €20,646 | €45,616 | €6,560 | €32,832 | €32,805 | ▼ 0.1% |
| + Depreciation and write-downs630 | €9,374 | €9,313 | €9,313 | €9,735 | €8,017 | €8,528 | €8,298 | ▼ 2.7% |
| Operating cash flow (approximation) | €49,342 | €34,810 | €29,958 | €55,351 | €14,577 | €41,360 | €41,103 | ▼ 0.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€22,704 | €15,638 | -€5,412 | -€584 | ▲ 89.2% |
| Change in cash | - | -€4,776 | -€10,813 | €2,425 | €4,389 | €38,392 | -€1,318 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as ETS LEFEBVRE ANDRE has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ETS LEFEBVRE ANDRE itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for ETS LEFEBVRE ANDRE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00021971 | |
| 30-06-2024 | micro format | 30-01-2025 | 2025-00016470 | |
| 30-06-2023 | micro format | 26-01-2024 | 2024-00023259 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00023398 | |
| 30-06-2021 | micro format | 01-03-2022 | 2022-06900429 | |
| 30-06-2020 | micro format | 08-02-2021 | 2021-05200211 | |
| 30-06-2019 | micro format | 27-02-2020 | 2020-06100570 | |
| 30-06-2018 | micro format | 21-02-2019 | 2019-05800147 | |
| 30-06-2017 | full format | 08-02-2018 | 2018-04700182 |