INTERLUXUS
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 47 days after the deadline Filed on 16 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00514074.
Annual accounts 2025 filed on 16-09-2026 at the NBB all 36 filings
Turnover
≈ €140,000
Estimated: probably between €100,000 and €220,000
Total assets
€607,158▼ 14.9%
2024 · €713,240
Net result
€2,775▼ 67.1%
2024 · €8,446
Working capital
-€1,056
2024 · €13,612
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€14,709
▼ 38.7%
2025
20182025
Net result
€2,775
▼ 67.1%
2025
middle half of the sector
20182025
Equity
€85,080
▲ 2.3%
2025
middle half of the sector
20182025
Total assets
€607,158
▼ 14.9%
2025
middle half of the sector
20182025
Debt
€522,079
▼ 17.1%
2025
20182025
Working capital
-€1,056
2025
lowest quarter of the sector
20182025
Solvency
14.0%
▲ 2.4pp
2025
lowest quarter of the sector
20182025
Current ratio
1.00
▼ 0.04
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.5%
▼ 0.7pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€13,151-€17,989▲ 36.8%€58,237▲ 224%€19,678▼ 66.2%€23,398▲ 18.9%€25,269▲ 8.0%€24,000▼ 5.0%€14,709▼ 38.7%
Net result-€567-€1,431€1,630below the sector's middle half▲ 13.9%€3,646below the sector's middle half▲ 124%€6,223below the sector's middle half▲ 70.7%€10,687within the sector's middle half▲ 71.7%€8,446within the sector's middle half▼ 21.0%€2,775within the sector's middle half▼ 67.1%
Equity€65,827-€66,459▲ 1.0%€67,277below the sector's middle half▲ 1.2%€70,123below the sector's middle half▲ 4.2%€75,545below the sector's middle half▲ 7.7%€85,432below the sector's middle half▲ 13.1%€83,164below the sector's middle half▼ 2.7%€85,080within the sector's middle half▲ 2.3%
Total assets€437,399-€555,182▲ 26.9%€589,115within the sector's middle half▲ 6.1%€590,142within the sector's middle half▲ 0.2%€752,334within the sector's middle half▲ 27.5%€710,287within the sector's middle half▼ 5.6%€713,240within the sector's middle half▲ 0.4%€607,158within the sector's middle half▼ 14.9%
Debt€371,572-€488,723▲ 31.5%€521,838▲ 6.8%€520,020▼ 0.3%€676,788▲ 30.1%€624,855▼ 7.7%€630,076▲ 0.8%€522,079▼ 17.1%
Working capital€47,050-€54,656▲ 16.2%€38,632within the sector's middle half▼ 29.3%€26,692below the sector's middle half▼ 30.9%€11,329below the sector's middle half▼ 57.6%€8,956below the sector's middle half▼ 20.9%€13,612below the sector's middle half▲ 52.0%-€1,056below the sector's middle half
Solvency15.0%-12.0%▼ 3.1pp11.4%below the sector's middle half▼ 0.6pp11.9%below the sector's middle half▲ 0.5pp10.0%below the sector's middle half▼ 1.8pp12.0%below the sector's middle half▲ 2.0pp11.7%below the sector's middle half▼ 0.4pp14.0%below the sector's middle half▲ 2.4pp
Current ratio1.19-1.15▼ 0.041.20within the sector's middle half▲ 0.051.12below the sector's middle half▼ 0.081.03below the sector's middle half▼ 0.091.02below the sector's middle half=1.04below the sector's middle half▲ 0.011.00below the sector's middle half▼ 0.04
Return on assets (ROA)-0.1%-0.3%▲ 0.4pp0.3%below the sector's middle half=0.6%below the sector's middle half▲ 0.3pp0.8%below the sector's middle half▲ 0.2pp1.5%within the sector's middle half▲ 0.7pp1.2%within the sector's middle half▼ 0.3pp0.5%below the sector's middle half▼ 0.7pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 39% lower than in 2024 and the lowest since 2018. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated 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 €607,158
Fixed assets
€301,821 ▼ 4.6%
Current assets
€305,338 ▼ 23.0%
Equity and liabilities €607,158
Equity
€85,080 ▲ 2.3%
Debt
€522,079 ▼ 17.1%
Debt's share of the balance-sheet total falls from 88.3% to 86.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29,396▼
2024 · €44,912
Cash flow
€17,462▼
2024 · €29,358
Quick ratio
0.73▼
2024 · 0.79
Debt to equity
6.14▼
2024 · 7.58
ROE
3.3%▼
2024 · 10.2%
Interest coverage
2.59▼
2024 · 3.79
Debt ≤ 1 year
€306,394▼
2024 · €383,121
Debt > 1 year
€215,685▼
2024 · €246,956
Income taxes
€660▼
2024 · €3,701
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €302,537 | - | €292,610 | - | €247,216 |
| Mortgages, amount registered | €25,000 | - | €25,000 | - | €25,000 |
| Carrying value of the mortgaged assets | €316,232 | - | €305,400 | - | €291,723 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,157 | €38,190 | €2,759 | - | - |
| Depreciation and write-downs of the year | €20,093 | €19,832 | €22,166 | €20,913 | €14,687 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,077 | €25,142 | €15,944 | €20,093 | €19,832 | €22,166 | €20,913 | €14,687 | ▼ 29.8% |
| Other operating charges640/8 | - | - | - | €1,407 | €1,110 | €564 | €1,155 | €658 | ▼ 43.0% |
| Gross operating margin9900 | €31,701 | €44,274 | €90,325 | €41,178 | €44,340 | €48,000 | €46,067 | €30,053 | ▼ 34.8% |
| Operating profit (loss)9901 | €13,151 | €17,989 | €58,237 | €19,678 | €23,398 | €25,269 | €24,000 | €14,709 | ▼ 38.7% |
| Financial income75/76B | - | - | - | €111 | €34 | €53 | €7 | €79 | ▲ 12× |
| Recurring financial income75 | €2,134 | €539 | €59 | €111 | €34 | €53 | €7 | €79 | ▲ 12× |
| Financial charges65/66B | - | - | - | €12,683 | €13,937 | €11,078 | €11,859 | €11,353 | ▼ 4.3% |
| Recurring financial charges65 | €14,783 | €16,049 | €55,594 | €12,683 | €13,937 | €11,078 | €11,859 | €11,353 | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €502 | €2,478 | €2,702 | €7,106 | €9,494 | €14,244 | €12,147 | €3,435 | ▼ 71.7% |
| Income taxes67/77 | €1,069 | €1,047 | €1,072 | €3,461 | €3,271 | €3,557 | €3,701 | €660 | ▼ 82.2% |
| Profit (loss) for the period9904 | -€567 | €1,431 | €1,630 | €3,646 | €6,223 | €10,687 | €8,446 | €2,775 | ▼ 67.1% |
| Profit (loss) for the period to be appropriated9905 | -€567 | €1,431 | €1,630 | €3,646 | €6,223 | €10,687 | €8,446 | €2,775 | ▼ 67.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €437,399 | €555,182 | €589,115 | €590,142 | €752,334 | €710,287 | €713,240 | €607,158 | ▼ 14.9% |
| Fixed assets21/28 | €138,410 | €136,458 | €354,405 | €338,469 | €356,827 | €337,420 | €316,508 | €301,821 | ▼ 4.6% |
| Tangible fixed assets22/27 | €138,010 | €136,058 | €354,005 | €338,069 | €356,427 | €337,020 | €316,108 | €301,421 | ▼ 4.6% |
| Land and buildings22 | - | - | - | €316,232 | €312,238 | €305,400 | €298,562 | €291,723 | ▼ 2.3% |
| Plant, machinery and equipment23 | - | - | - | €6,765 | €8,780 | €7,127 | €3,969 | €2,013 | ▼ 49.3% |
| Furniture and vehicles24 | - | - | - | €15,072 | €35,409 | €24,493 | €13,576 | €7,684 | ▼ 43.4% |
| Financial fixed assets28 | €400 | €400 | €400 | €400 | €400 | €400 | €400 | €400 | = |
| Current assets29/58 | €298,989 | €418,724 | €234,710 | €251,673 | €395,506 | €372,867 | €396,733 | €305,338 | ▼ 23.0% |
| Stocks and contracts in progress3 | €10,228 | €8,754 | €6,118 | €4,500 | €26,744 | €33,944 | €93,444 | €81,325 | ▼ 13.0% |
| Stocks30/36 | - | - | - | €4,500 | €5,870 | €4,470 | €6,970 | €6,546 | ▼ 6.1% |
| Contracts in progress37 | - | - | - | - | €20,874 | €29,474 | €86,474 | €74,779 | ▼ 13.5% |
| Amounts receivable within one year40/41 | €199,490 | €334,385 | €216,955 | €240,457 | €365,145 | €328,503 | €299,124 | €221,721 | ▼ 25.9% |
| Trade receivables40 | - | - | - | €200,517 | €310,414 | €283,396 | €232,516 | €173,715 | ▼ 25.3% |
| Other amounts receivable41 | - | - | - | €39,940 | €54,731 | €45,107 | €66,608 | €48,005 | ▼ 27.9% |
| Cash at bank and in hand54/58 | - | €232 | €5,325 | €3,665 | €286 | €1,948 | €266 | €266 | = |
| Deferred charges and accrued income490/1 | - | - | - | €3,052 | €3,331 | €8,471 | €3,898 | €2,026 | ▼ 48.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €437,399 | €555,182 | €589,115 | €590,142 | €752,334 | €710,287 | €713,240 | €607,158 | ▼ 14.9% |
| Equity10/15 | €65,827 | €66,459 | €67,277 | €70,123 | €75,545 | €85,432 | €83,164 | €85,080 | ▲ 2.3% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €5,506 | €5,506 | €5,506 | €5,506 | €5,506 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €3,646 | €3,646 | €3,646 | €3,646 | €3,646 | = |
| Profit (loss) carried forward14 | €51,567 | €52,199 | €53,017 | €52,217 | €57,640 | €67,526 | €65,258 | €67,174 | ▲ 2.9% |
| Amounts payable17/49 | €371,572 | €488,723 | €521,838 | €520,020 | €676,788 | €624,855 | €630,076 | €522,079 | ▼ 17.1% |
| Amounts payable after more than one year17 | €119,633 | €124,655 | €325,761 | €295,038 | €292,610 | €260,944 | €246,956 | €215,685 | ▼ 12.7% |
| Financial debts170/4 | - | - | - | €295,038 | €292,610 | €260,944 | €246,956 | €215,685 | ▼ 12.7% |
| Amounts payable within one year42/48 | €251,939 | €364,068 | €196,077 | €224,981 | €384,178 | €363,911 | €383,121 | €306,394 | ▼ 20.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €31,327 | €32,219 | €31,667 | €31,187 | €31,531 | ▲ 1.1% |
| Financial debts43 | - | - | - | - | €29,474 | - | €30,723 | €24,462 | ▼ 20.4% |
| Credit institutions430/8 | - | - | - | - | €29,474 | - | €30,723 | €24,462 | ▼ 20.4% |
| Trade debts44 | €176,041 | €297,901 | €107,491 | €148,700 | €271,563 | €273,885 | €260,062 | €181,805 | ▼ 30.1% |
| Suppliers440/4 | - | - | - | €148,700 | €271,563 | €273,885 | €260,062 | €181,805 | ▼ 30.1% |
| Advances received on contracts in progress46 | - | - | - | €350 | €350 | €823 | €823 | €9,621 | ▲ 12× |
| Taxes, remuneration and social security45 | - | - | - | €42,448 | €48,206 | €48,829 | €52,826 | €49,982 | ▼ 5.4% |
| Taxes450/3 | - | - | - | €5,318 | €6,915 | €6,069 | €9,826 | €4,361 | ▼ 55.6% |
| Remuneration and social security454/9 | - | - | - | €37,131 | €41,291 | €42,761 | €42,999 | €45,621 | ▲ 6.1% |
| Other amounts payable47/48 | - | - | - | €2,155 | €2,366 | €8,707 | €7,500 | €8,993 | ▲ 19.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€567 | €1,431 | €1,630 | €3,646 | €6,223 | €10,687 | €8,446 | €2,775 | ▼ 67.1% |
| + Depreciation and write-downs630 | €18,077 | €25,142 | €15,944 | €20,093 | €19,832 | €22,166 | €20,913 | €14,687 | ▼ 29.8% |
| Operating cash flow (approximation) | €17,510 | €26,574 | €17,574 | €23,739 | €26,055 | €32,853 | €29,358 | €17,462 | ▼ 40.5% |
| Investment in fixed assets (approximation) | - | -€23,190 | -€233,891 | -€4,157 | -€38,190 | -€2,759 | €0 | €0 | - |
| Change in cash | - | - | €5,093 | -€1,660 | -€3,379 | €1,663 | -€1,682 | €0 | - |
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, 4,685 companies had the same profile as INTERLUXUS has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.9%
stopped otherwise
1.1%
went bankrupt
The bankruptcy probability of INTERLUXUS itself is higher: 2.2% within 12 months. It rests on far more data about INTERLUXUS than the profile alone.
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 4,685 companies, not a prediction for INTERLUXUS. 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.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-09-2026 | 2026-00514074 | |
| 31-12-2024 | abbreviated format | 18-12-2025 | 2025-00585256 | |
| 31-12-2023 | abbreviated format | 17-03-2025 | 2025-00052933 | |
| 31-12-2022 | abbreviated format | 27-08-2023 | 2023-00372294 | |
| 31-12-2021 | abbreviated format | 25-08-2022 | 2022-20341108 | |
| 31-12-2020 | abbreviated format | 23-08-2021 | 2021-52100415 | |
| 31-12-2019 | abbreviated format | 27-08-2020 | 2020-47100579 | |
| 31-12-2018 | abbreviated format | 22-08-2019 | 2019-50100253 | |
| 31-12-2017 | abbreviated format | 10-08-2018 | 2018-45300561 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-51000057 |