Illumination
ActiveSummary
The computed 12-month bankruptcy probability of Illumination is 2.2% (moderate). The 2025 annual accounts show equity of €320,305 and a net result of €37,623. Equity is growing by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 53% of 18716 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+4
Solvency63▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 1.51 against 1.64 in 2024; short-term debt: 49.6% and cash: 18.7% of total assets), but 62.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
37.7%
Return on assets
4.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
19 d early
2023
40 d early
2022
18 d late
2021
19 d early
2020
11 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 12 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€320,305▲ 13.3%
2024 · €282,682
Total assets
€849,537▲ 26.1%
2024 · €673,678
Net result
€37,623▲ 25.6%
2024 · €29,947
Working capital
€212,652▲ 12.7%
2024 · €188,701
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at 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 47, Retail trade, 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
Line20212022202320242025
Operating result€48,718▲ 533%€66,133▲ 35.7%€18,424▼ 72.1%€60,262▲ 227%€65,516▲ 8.7%
Net result€38,906above the sector's middle half€46,777above the sector's middle half▲ 20.2%-€532within the sector's middle half€29,947above the sector's middle half€37,623above the sector's middle half▲ 25.6%
Equity€206,490above the sector's middle half▲ 23.2%€253,267above the sector's middle half▲ 22.7%€252,735above the sector's middle half▼ 0.2%€282,682above the sector's middle half▲ 11.8%€320,305above the sector's middle half▲ 13.3%
Total assets€560,934above the sector's middle half▲ 12.0%€734,418above the sector's middle half▲ 30.9%€684,177above the sector's middle half▼ 6.8%€673,678above the sector's middle half▼ 1.5%€849,537above the sector's middle half▲ 26.1%
Debt€354,444▲ 6.4%€481,151▲ 35.7%€431,442▼ 10.3%€390,996▼ 9.4%€529,232▲ 35.4%
Working capital€134,269above the sector's middle half▲ 23.3%€161,564above the sector's middle half▲ 20.3%€160,704above the sector's middle half▼ 0.5%€188,701above the sector's middle half▲ 17.4%€212,652above the sector's middle half▲ 12.7%
Solvency36.8%within the sector's middle half▲ 3.4pp34.5%within the sector's middle half▼ 2.3pp36.9%within the sector's middle half▲ 2.5pp42.0%within the sector's middle half▲ 5.0pp37.7%within the sector's middle half▼ 4.3pp
Current ratio1.50within the sector's middle half▲ 0.061.45within the sector's middle half▼ 0.051.53within the sector's middle half▲ 0.071.64within the sector's middle half▲ 0.111.51within the sector's middle half▼ 0.13
Return on assets (ROA)6.9%within the sector's middle half▲ 7.0pp6.4%within the sector's middle half▼ 0.6pp-0.1%within the sector's middle half▼ 6.4pp4.4%within the sector's middle half▲ 4.5pp4.4%within the sector's middle half=
Staff (FTE)3▲ 3.4%4.5▲ 50.0%5.7▲ 26.7%5▼ 12.3%5.6▲ 12.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 9% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €849,537
Fixed assets
€215,879 ▲ 13.9%
Current assets
€633,658 ▲ 30.9%
Equity and liabilities €849,537
Equity
€320,305 ▲ 13.3%
Debt
€529,232 ▲ 35.4%
Debt's share of the balance-sheet total rises from 58.0% to 62.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€113,522▲
2024 · €101,887
Cash flow
€85,629▲
2024 · €71,572
Quick ratio
0.55▲
2024 · 0.47
Debt to equity
1.65▲
2024 · 1.38
ROE
11.7%▲
2024 · 10.6%
Interest coverage
7.18▲
2024 · 5.52
Debt ≤ 1 year
€421,006▲
2024 · €295,453
Debt > 1 year
€106,745▲
2024 · €94,880
Income taxes
€12,711▲
2024 · €11,860
Staff costs
€219,415▲
2024 · €202,079
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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 17,040 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €11,750 | €7,212 | - | - | - | - |
| Remuneration, social security and pensions62 | €114,876 | €181,054 | €190,206 | €202,079 | €219,415 | ▲ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,988 | €32,647 | €45,548 | €41,625 | €48,006 | ▲ 15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€28,186 | €8,017 | -€7,688 | €1,188 | €8,733 | ▲ 635% |
| Other operating charges640/8 | €4,837 | €5,524 | €5,157 | €5,465 | €5,353 | ▼ 2.0% |
| Gross operating margin9900 | €162,233 | €293,375 | €251,647 | €310,619 | €347,023 | ▲ 11.7% |
| Operating profit (loss)9901 | €48,718 | €66,133 | €18,424 | €60,262 | €65,516 | ▲ 8.7% |
| Financial income75/76B | - | €72 | - | €3 | €626 | ▲ 20,767% |
| Recurring financial income75 | - | €72 | - | €3 | €626 | ▲ 20,767% |
| Financial charges65/66B | €8,312 | €13,984 | €18,889 | €18,458 | €15,808 | ▼ 14.4% |
| Recurring financial charges65 | €8,312 | €13,984 | €18,889 | €18,458 | €15,808 | ▼ 14.4% |
| Profit (loss) for the period before taxes9903 | €40,406 | €52,221 | -€465 | €41,807 | €50,334 | ▲ 20.4% |
| Income taxes67/77 | €1,500 | €5,444 | €67 | €11,860 | €12,711 | ▲ 7.2% |
| Profit (loss) for the period9904 | €38,906 | €46,777 | -€532 | €29,947 | €37,623 | ▲ 25.6% |
| Profit (loss) for the period to be appropriated9905 | €38,906 | €46,777 | -€532 | €29,947 | €37,623 | ▲ 25.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €560,934 | €734,418 | €684,177 | €673,678 | €849,537 | ▲ 26.1% |
| Fixed assets21/28 | €158,359 | €216,843 | €218,257 | €189,524 | €215,879 | ▲ 13.9% |
| Intangible fixed assets21 | €9,421 | €26,662 | €18,384 | €14,811 | €18,286 | ▲ 23.5% |
| Tangible fixed assets22/27 | €147,338 | €189,601 | €198,793 | €173,513 | €196,593 | ▲ 13.3% |
| Land and buildings22 | €113,977 | €106,540 | €99,102 | €91,664 | €84,227 | ▼ 8.1% |
| Furniture and vehicles24 | €4,004 | €11,260 | €8,834 | €8,394 | €29,991 | ▲ 257% |
| Other tangible fixed assets26 | €29,357 | €71,801 | €90,857 | €73,455 | €82,375 | ▲ 12.1% |
| Financial fixed assets28 | €1,600 | €580 | €1,080 | €1,200 | €1,000 | ▼ 16.7% |
| Current assets29/58 | €402,575 | €517,575 | €465,920 | €484,154 | €633,658 | ▲ 30.9% |
| Stocks and contracts in progress3 | €267,952 | €342,316 | €361,187 | €344,345 | €401,610 | ▲ 16.6% |
| Stocks30/36 | €267,952 | €342,316 | €361,187 | €344,345 | €401,610 | ▲ 16.6% |
| Amounts receivable within one year40/41 | €33,065 | €58,934 | €61,624 | €46,770 | €65,119 | ▲ 39.2% |
| Trade receivables40 | €32,865 | €58,535 | €54,692 | €45,868 | €58,908 | ▲ 28.4% |
| Other amounts receivable41 | €200 | €399 | €6,932 | €902 | €6,211 | ▲ 589% |
| Cash at bank and in hand54/58 | €91,931 | €110,840 | €38,197 | €78,175 | €159,155 | ▲ 104% |
| Deferred charges and accrued income490/1 | €9,627 | €5,485 | €4,912 | €14,864 | €7,774 | ▼ 47.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €560,934 | €734,418 | €684,177 | €673,678 | €849,537 | ▲ 26.1% |
| Equity10/15 | €206,490 | €253,267 | €252,735 | €282,682 | €320,305 | ▲ 13.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €183,109 | €233,109 | €233,109 | €262,109 | €299,109 | ▲ 14.1% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | €36,250 | €36,250 | €36,250 | €36,250 | €36,250 | = |
| Distributable reserves133 | €145,000 | €195,000 | €195,000 | €224,000 | €261,000 | ▲ 16.5% |
| Profit (loss) carried forward14 | €4,789 | €1,566 | €1,034 | €1,981 | €2,604 | ▲ 31.4% |
| Amounts payable17/49 | €354,444 | €481,151 | €431,442 | €390,996 | €529,232 | ▲ 35.4% |
| Amounts payable after more than one year17 | €84,671 | €122,383 | €121,856 | €94,880 | €106,745 | ▲ 12.5% |
| Financial debts170/4 | €39,671 | €77,383 | €76,856 | €49,880 | €61,745 | ▲ 23.8% |
| Other amounts payable178/9 | €45,000 | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Amounts payable within one year42/48 | €268,306 | €356,011 | €305,216 | €295,453 | €421,006 | ▲ 42.5% |
| Current portion of amounts payable after more than one year42 | €24,304 | €42,452 | €40,960 | €30,006 | €46,064 | ▲ 53.5% |
| Financial debts43 | €4,678 | €29,215 | - | - | €70,000 | - |
| Credit institutions430/8 | €4,678 | €29,215 | - | - | €70,000 | - |
| Trade debts44 | €30,822 | €39,705 | €33,219 | €39,646 | €72,627 | ▲ 83.2% |
| Suppliers440/4 | €30,822 | €39,705 | €33,219 | €39,646 | €72,627 | ▲ 83.2% |
| Taxes, remuneration and social security45 | €67,261 | €87,983 | €91,250 | €99,680 | €124,604 | ▲ 25.0% |
| Taxes450/3 | €47,440 | €66,232 | €68,407 | €79,026 | €101,236 | ▲ 28.1% |
| Remuneration and social security454/9 | €19,821 | €21,751 | €22,843 | €20,654 | €23,368 | ▲ 13.1% |
| Other amounts payable47/48 | €141,241 | €156,656 | €139,787 | €126,121 | €107,711 | ▼ 14.6% |
| Accrued charges and deferred income492/3 | €1,467 | €2,757 | €4,370 | €663 | €1,481 | ▲ 123% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,906 | €46,777 | -€532 | €29,947 | €37,623 | ▲ 25.6% |
| + Depreciation and write-downs630 | €21,988 | €32,647 | €45,548 | €41,625 | €48,006 | ▲ 15.3% |
| Operating cash flow (approximation) | €60,894 | €79,424 | €45,016 | €71,572 | €85,629 | ▲ 19.6% |
| Investment in fixed assets (approximation) | - | -€91,131 | -€46,962 | -€12,892 | -€74,361 | ▼ 477% |
| Change in cash | - | €18,909 | -€72,643 | €39,978 | €80,980 | ▲ 103% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
12-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €29,947
Net result €29,947 after one loss-making year.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
2022
31-12
Financial
Highest result since 2018net €46,777 ▲20.2%
Operating result €66,133, net result €46,777, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €38,906
Net result €38,906 after 3 loss-making years.
31-12
Financial
Equity above €200,000Eq €206,490 ▲23.2%
Equity rises from €167,584 to €206,490.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€12,994
Net result drops to -€12,994, the lowest in the series; recovery starts the following year.
Show earlier events
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Etterbeek · 6 establishment units since 1999
Ground area
1.1 ha
Building footprint
1,778 m²
Volume, LiDAR
17,803 m³
6 parcels, Brussels, Wallonia · tallest building 17.3 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
6 establishment units
Illumination
since 19992.092.598.321
ILLUMINATION
since 20132.222.395.308
Il fera beau demain Louvain la Neuve
since 20142.234.996.497
Il fera beau demain Bruxelles
since 20172.272.665.557
Il fera beau demain Namur
since 20222.328.549.534
Il fera beau demain Waterloo
since 20252.377.961.928
6 parcels
Wallonia
4
(66.7%)
Brussels
2
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25386B0122/00R004 | Wallonia | 7,285 m² | 1 · 26 m² | 6.0 m · 2 fl. |
| 25763L0424/00D000 | Wallonia | 1,273 m² | 1 · 1,069 m² | 13.0 m · 4 fl. |
| 25055A0395/00C000 | Wallonia | 1,256 m² | 1 · 156 m² | 9.5 m · 2 fl. |
| 21363B0464/00E008 | Brussels | 344 m² | 1 · 269 m² | 10.0 m · 1 fl. |
| 21447B0221/00P008 | Brussels | 332 m² | 1 · 116 m² | 17.3 m · 5 fl. |
| 92094C1408/00B000 | Wallonia | 204 m² | 1 · 142 m² | 14.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
6 of 6 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,071 companies in sector 47741 we hold annual accounts for 645. 478 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded23-09-1999
Fiscal year end31-12
Activities, NACEBEL 2025
47552Retail sale of lighting equipment
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
14299Manufacture of wearing apparel
46480Wholesale trade
47120Other non-specialised retail sale
47715Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466911874
Also
9925:BE0466911874
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.