Illumination
ActiveSummary
The computed 12-month bankruptcy probability of Illumination is 2.2% (moderate). The 2025 annual accounts show equity of €320k and a net result of €38k. Equity is growing by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 53% of 18280 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
61
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
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 €19k 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.
Credit advice for your own amount and term
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
Sector 47
higher
← 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 →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€320k▲ 13.3%
2024 · €283k
2018: €181k
2019: €168k
2020: €168k
2021: €206k
2022: €253k
2023: €253k
2024: €283k
2018 → 2025
Total assets
€850k▲ 26.1%
2024 · €674k
2018: €551k
2019: €556k
2020: €501k
2021: €561k
2022: €734k
2023: €684k
2024: €674k
2018 → 2025
Net result
€38k▲ 25.6%
2024 · €30k
2018: €-2k
2019: €-13k
2020: €-552
2021: €39k
2022: €47k
2023: €-532
2024: €30k
2018 → 2025
Working capital
€213k▲ 12.7%
2024 · €189k
2018: €106k
2019: €89k
2020: €109k
2021: €134k
2022: €162k
2023: €161k
2024: €189k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€206k-€253k▲ 22.7%€253k▼ 0.2%€283k▲ 11.8%€320k▲ 13.3%
Operating result€49k-€66k▲ 35.7%€18k▼ 72.1%€60k▲ 227%€66k▲ 8.7%
Net result€39k-€47k▲ 20.2%€-532€30k€38k▲ 25.6%
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 €850k
Fixed assets
€216k ▲ 13.9%
Current assets
€634k ▲ 30.9%
Equity and liabilities €850k
Equity
€320k ▲ 13.3%
Debt
€529k ▲ 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
€114k▲
2024 · €102k
Cash flow
€86k▲
2024 · €72k
Current ratio
1.51▼
2024 · 1.64
Quick ratio
0.55▲
2024 · 0.47
Debt to equity
1.65▲
2024 · 1.38
ROE
11.7%▲
2024 · 10.6%
ROA
4.4%▼
2024 · 4.4%
Interest coverage
7.18▲
2024 · 5.52
Debt ≤ 1 year
€421k▲
2024 · €295k
Debt > 1 year
€107k▲
2024 · €95k
Income taxes
€13k▲
2024 · €12k
Staff costs
€219k▲
2024 · €202k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€674k€850k▲
Fixed assets21/28€190k€216k▲
Intangible fixed assets21€15k€18k▲
Tangible fixed assets22/27€174k€197k▲
Land and buildings22€92k€84k▼
Furniture and vehicles24€8k€30k▲
Other tangible fixed assets26€73k€82k▲
Financial fixed assets28€1k€1k▼
Current assets29/58€484k€634k▲
Stocks and contracts in progress3€344k€402k▲
Stocks30/36€344k€402k▲
Amounts receivable within one year40/41€47k€65k▲
Trade receivables40€46k€59k▲
Other amounts receivable41€902€6k▲
Cash at bank and in hand54/58€78k€159k▲
Deferred charges and accrued income490/1€15k€8k▼
Equity and liabilities
Total equity and liabilities10/49€674k€850k▲
Equity10/15€283k€320k▲
Contributions10/11€19k€19k=
Reserves13€262k€299k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€36k€36k=
Distributable reserves133€224k€261k▲
Profit (loss) carried forward14€2k€3k▲
Amounts payable17/49€391k€529k▲
Amounts payable after more than one year17€95k€107k▲
Financial debts170/4€50k€62k▲
Other amounts payable178/9€45k€45k=
Amounts payable within one year42/48€295k€421k▲
Current portion of amounts payable after more than one year42€30k€46k▲
Financial debts43-€70k
Credit institutions430/8-€70k
Trade debts44€40k€73k▲
Suppliers440/4€40k€73k▲
Taxes, remuneration and social security45€100k€125k▲
Taxes450/3€79k€101k▲
Remuneration and social security454/9€21k€23k▲
Other amounts payable47/48€126k€108k▼
Accrued charges and deferred income492/3€663€1k▲
Income statement
Code20242025
Remuneration, social security and pensions62€202k€219k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€48k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€1k€9k▲
Other operating charges640/8€5k€5k▼
Gross operating margin9900€311k€347k▲
Operating profit (loss)9901€60k€66k▲
Financial income75/76B€3€626▲
Recurring financial income75€3€626▲
Financial charges65/66B€18k€16k▼
Recurring financial charges65€18k€16k▼
Profit (loss) for the period before taxes9903€42k€50k▲
Income taxes67/77€12k€13k▲
Profit (loss) for the period9904€30k€38k▲
Profit (loss) for the period to be appropriated9905€30k€38k▲
Appropriation of the result
Profit (loss) to be appropriated9906€31k€40k▲
Profit (loss) brought forward from the previous period14P€1k€2k▲
Transfer to equity691/2€29k€37k▲
To other reserves6921€29k€37k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
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 €30k
Net result €30k 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 €47k ▲20.2%
Operating result €66k, net result €47k, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €39k
Net result €39k after 3 loss-making years.
31-12
Financial
Equity above €200kEq €206k ▲23.2%
Equity rises from €168k to €206k.
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 €-13k
Net result drops to €-13k, 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
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Morgenlandstraat 711040 EtterbeekGround 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.
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
Methodology
via registered seat: 1 · via establishment units: 5
6 of 6 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
NK Orthopedics
BE 0682.484.674
Heers · Eq €318,246
HYGEMED
BE 0792.401.215
Mons · Eq €318,012
LAURENZ
BE 0442.461.738
Dendermonde · Eq €317,081
VOETCENTRUM FUNESCO
BE 0861.770.962
Sint-Niklaas · Eq €315,554
DEROMLA
BE 0643.716.348
Charleroi · Eq €327,040
Of 1,070 companies in sector 47741 we hold annual accounts for 644. 477 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
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
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.