L.E.D. TECHNO
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00502021.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 40 filings
Turnover
≈ €9.0m
Estimated: probably between €5.4m and €15.0m
EBIT margin
Not included in this filing
Net result
€334,322▲ 375%
2024 · €70,352
Working capital
€2.0m▲ 25.2%
2024 · €1.6m
In the rankings
#5 company by staff growth in Heusden-Zolder, Wholesale and retail trade sector#10 oldest company in Heusden-Zolder, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€459,876
▲ 362%
2025
20182025
Net result
€334,322
▲ 375%
2025
middle half of the sector
20182025
Equity
€2.2m
▲ 18.3%
2025
middle half of the sector
20182025
Total assets
€4.0m
▲ 8.2%
2025
middle half of the sector
20182025
Debt
€1.8m
▼ 1.9%
2025
20182025
Working capital
€2.0m
▲ 25.2%
2025
middle half of the sector
20182025
Solvency
54.4%
▲ 4.7pp
2025
middle half of the sector
20182025
Current ratio
2.09
▲ 0.24
2025
middle half of the sector
20182025
Return on assets (ROA)
8.4%
▲ 6.5pp
2025
middle half of the sector
20182025
Staff (FTE)
21.8
▲ 7.9%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.4m▲ 21.8%€0.4m▲ 6.1%-€0.06m€0.4m€0.5m▲ 19.7%€0.1m▼ 79.1%€0.5m▲ 362%
Net result€0.2m-€0.3m▲ 18.8%€0.3mabove the sector's middle half▲ 24.4%-€0.07mbelow the sector's middle half€0.3mabove the sector's middle half€0.4mabove the sector's middle half▲ 39.2%€0.07mwithin the sector's middle half▼ 82.5%€0.3mwithin the sector's middle half▲ 375%
Equity€0.7m-€0.9m▲ 30.4%€1.2mabove the sector's middle half▲ 31.4%€1.1mabove the sector's middle half▼ 6.3%€1.4mabove the sector's middle half▲ 26.6%€1.8mabove the sector's middle half▲ 27.5%€1.8mabove the sector's middle half▲ 4.0%€2.2mwithin the sector's middle half▲ 18.3%
Total assets€2.2m-€2.6m▲ 16.1%€2.5mabove the sector's middle half▼ 4.2%€2.3mwithin the sector's middle half▼ 4.8%€3.5mabove the sector's middle half▲ 49.8%€3.3mabove the sector's middle half▼ 5.9%€3.7mabove the sector's middle half▲ 11.2%€4.0mwithin the sector's middle half▲ 8.2%
Debt€1.5m-€1.7m▲ 9.8%€1.3m▼ 22.8%€1.3m▼ 3.5%€2.1m▲ 70.0%€1.5m▼ 27.6%€1.8m▲ 19.5%€1.8m▼ 1.9%
Working capital€0.6m-€0.8m▲ 41.0%€1.0mabove the sector's middle half▲ 31.2%€1.0mabove the sector's middle half▼ 3.7%€1.4mabove the sector's middle half▲ 35.6%€1.6mabove the sector's middle half▲ 17.6%€1.6mabove the sector's middle half▼ 1.9%€2.0mwithin the sector's middle half▲ 25.2%
Solvency30.6%-34.4%▲ 3.8pp47.2%within the sector's middle half▲ 12.8pp46.5%within the sector's middle half▼ 0.7pp39.3%within the sector's middle half▼ 7.2pp53.2%within the sector's middle half▲ 14.0pp49.8%within the sector's middle half▼ 3.5pp54.4%within the sector's middle half▲ 4.7pp
Current ratio1.37-1.48▲ 0.101.81within the sector's middle half▲ 0.331.80within the sector's middle half▼ 0.011.65within the sector's middle half▼ 0.152.03within the sector's middle half▲ 0.381.85within the sector's middle half▼ 0.182.09within the sector's middle half▲ 0.24
Return on assets (ROA)10.2%-10.4%▲ 0.2pp13.5%above the sector's middle half▲ 3.1pp-3.1%below the sector's middle half▼ 16.6pp8.3%within the sector's middle half▲ 11.4pp12.2%above the sector's middle half▲ 4.0pp1.9%within the sector's middle half▼ 10.3pp8.4%within the sector's middle half▲ 6.5pp
Staff (FTE)16.8-18.1▲ 7.7%17.4above the sector's middle half▼ 3.9%20.8above the sector's middle half▲ 19.5%19.7above the sector's middle half▼ 5.3%19.9above the sector's middle half▲ 1.0%20.2above the sector's middle half▲ 1.5%21.8within the sector's middle half▲ 7.9%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 4.6 times that of 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +375% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€214,631 ▼ 17.9%
Current assets
€3.8m ▲ 10.2%
Equity and liabilities €4.0m
Equity
€2.2m ▲ 18.3%
Debt
€1.8m ▼ 1.9%
Debt's share of the balance-sheet total falls from 50.2% to 45.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€518,430▲
2024 · €148,053
Cash flow
€392,877▲
2024 · €118,915
Quick ratio
1.13▲
2024 · 0.89
Debt to equity
0.84▼
2024 · 1.01
ROE
15.5%▲
2024 · 3.9%
Interest coverage
23.39▲
2024 · 7.72
Debt ≤ 1 year
€1.8m▼
2024 · €1.8m
Income taxes
€134,925▲
2024 · €39,622
Staff costs
€1.6m▲
2024 · €1.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 23 | 21 | 22 | 23 | 25 |
| full-time | 15 | 11 | 12 | 13 | 14 |
| part-time | 8 | 10 | 10 | 10 | 11 |
| in full-time equivalents | 21.4 | 19 | 20 | 20.6 | 22.2 |
| Average over the year, in full-time equivalents | 20.8 | 19.7 | 19.9 | 20.2 | 21.8 |
| On a permanent contract | 23 | 21 | 22 | 23 | 25 |
| Joined | 9 | 4 | 4 | 6 | 4 |
| Left | 9 | 6 | 3 | 5 | 2 |
| Training hours | - | 88 | 88 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €47,469 | €19,223 | - | - | - |
| Pledge on the business | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 |
| Mandates to pledge the business | €340,000 | €340,000 | €340,000 | €340,000 | €340,000 |
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 | €26,817 | €8,719 | €124,235 | €133,256 | €14,074 |
| Intangible fixed assets | - | €7,500 | - | €20,000 | - |
| Financial fixed assets | - | - | - | - | €200 |
| Depreciation and write-downs of the year | €50,947 | €40,316 | €29,603 | €48,563 | €58,555 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 10 entries · €35,796 awarded · €32,876 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €15,349 | €12,406 |
| 2024 | 2 | €6,225 | €6,225 |
| 2023 | 2 | €7,570 | €7,593 |
| 2022 | 3 | €6,652 | €6,652 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.03m | €0.08m | €0.07m | €0.03m | €0.05m | ▲ 60.8% |
| Remuneration, social security and pensions62 | - | - | - | €1.2m | €1.4m | €1.3m | €1.6m | €1.6m | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.04m | €0.05m | €0.04m | €0.03m | €0.05m | €0.06m | ▲ 20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.008m | €0.001m | - | - |
| Other operating charges640/8 | - | - | - | €0.005m | €0.004m | €0.007m | €0.004m | €0.003m | ▼ 24.9% |
| Non-recurring operating charges66A | - | - | - | €0.007m | - | - | - | €90 | - |
| Gross operating margin9900 | €1.4m | €1.5m | €1.5m | €1.2m | €1.9m | €1.9m | €1.7m | €2.2m | ▲ 26.3% |
| Operating profit (loss)9901 | €0.3m | €0.4m | €0.4m | -€0.06m | €0.4m | €0.5m | €0.1m | €0.5m | ▲ 362% |
| Financial income75/76B | - | - | - | €0.01m | €0.02m | €0.06m | €0.03m | €0.03m | ▲ 6.4% |
| Recurring financial income75 | €0.02m | €0.02m | €0.02m | €0.01m | €0.02m | €0.06m | €0.03m | €0.03m | ▲ 6.4% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.01m | €0.02m | €0.02m | ▲ 15.6% |
| Recurring financial charges65 | €0.01m | €0.009m | €0.007m | €0.02m | €0.02m | €0.01m | €0.02m | €0.02m | ▲ 15.6% |
| Non-recurring financial charges66B | - | - | - | €180 | - | €0.002m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.4m | €0.4m | -€0.07m | €0.4m | €0.5m | €0.1m | €0.5m | ▲ 327% |
| Income taxes67/77 | €0.1m | €0.1m | €0.1m | €0.004m | €0.1m | €0.1m | €0.04m | €0.1m | ▲ 241% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.3m | -€0.07m | €0.3m | €0.4m | €0.07m | €0.3m | ▲ 375% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.3m | -€0.07m | €0.3m | €0.4m | €0.07m | €0.3m | ▲ 375% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €2.6m | €2.5m | €2.3m | €3.5m | €3.3m | €3.7m | €4.0m | ▲ 8.2% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.09m | €0.07m | €0.2m | €0.3m | €0.2m | ▼ 17.9% |
| Intangible fixed assets21 | €0.04m | €0.03m | €0.01m | €0.002m | €0.008m | €0.007m | €0.02m | €0.02m | ▼ 19.3% |
| Tangible fixed assets22/27 | €0.1m | €0.09m | €0.1m | €0.09m | €0.06m | €0.2m | €0.2m | €0.2m | ▼ 17.9% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.007m | €0.03m | €0.08m | €0.06m | ▼ 22.7% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.03m | €0.1m | €0.1m | €0.1m | ▼ 14.0% |
| Other tangible fixed assets26 | - | - | - | €0.03m | €0.02m | €0.02m | €0.03m | €0.03m | ▼ 20.7% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €200 | - |
| Current assets29/58 | €2.1m | €2.5m | €2.3m | €2.2m | €3.4m | €3.1m | €3.4m | €3.8m | ▲ 10.2% |
| Stocks and contracts in progress3 | €0.9m | €1.2m | €1.1m | €1.1m | €1.5m | €1.6m | €1.8m | €1.7m | ▼ 2.2% |
| Stocks30/36 | - | - | - | €1.1m | €1.5m | €1.6m | €1.8m | €1.7m | ▼ 2.2% |
| Amounts receivable within one year40/41 | €1.0m | €1.3m | €1.2m | €1.0m | €1.9m | €1.3m | €1.4m | €1.4m | ▼ 0.6% |
| Trade receivables40 | - | - | - | €0.9m | €1.8m | €1.3m | €1.3m | €1.4m | ▲ 4.2% |
| Other amounts receivable41 | - | - | - | €0.06m | €0.06m | €0.07m | €0.1m | €0.04m | ▼ 58.7% |
| Cash at bank and in hand54/58 | €0.2m | €0.04m | €0.06m | €0.2m | €0.06m | €0.2m | €0.2m | €0.6m | ▲ 166% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €2.6m | €2.5m | €2.3m | €3.5m | €3.3m | €3.7m | €4.0m | ▲ 8.2% |
| Equity10/15 | €0.7m | €0.9m | €1.2m | €1.1m | €1.4m | €1.8m | €1.8m | €2.2m | ▲ 18.3% |
| 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 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| 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 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.6m | €0.8m | €1.1m | €1.0m | €1.3m | €1.7m | €1.7m | €2.1m | ▲ 19.2% |
| Amounts payable17/49 | €1.5m | €1.7m | €1.3m | €1.3m | €2.1m | €1.5m | €1.8m | €1.8m | ▼ 1.9% |
| Amounts payable after more than one year17 | €0.03m | €0.02m | €0.01m | €0.003m | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.003m | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.5m | €1.7m | €1.3m | €1.2m | €2.1m | €1.5m | €1.8m | €1.8m | ▼ 2.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.003m | - | - | - | - |
| Financial debts43 | - | - | - | €0.04m | €0.02m | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.04m | €0.02m | - | - | - | - |
| Trade debts44 | €0.9m | €1.1m | €0.7m | €0.5m | €1.0m | €0.9m | €1.2m | €1.0m | ▼ 13.8% |
| Suppliers440/4 | - | - | - | €0.5m | €1.0m | €0.9m | €1.2m | €1.0m | ▼ 13.8% |
| Advances received on contracts in progress46 | - | - | - | €0.01m | €0.4m | €0.03m | €0.04m | €0.05m | ▲ 27.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | €0.2m | €0.3m | €0.4m | ▲ 30.0% |
| Taxes450/3 | - | - | - | €0.1m | €0.1m | €0.08m | €0.1m | €0.2m | ▲ 60.1% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 11.5% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.4m | €0.4m | €0.3m | €0.4m | ▲ 5.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.05m | - | - | €0.01m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €224,663 | €266,920 | €331,941 | -€72,515 | €289,321 | €402,628 | €70,352 | €334,322 | ▲ 375% |
| + Depreciation and write-downs630 | €42,376 | €39,885 | €44,757 | €50,947 | €40,316 | €29,603 | €48,563 | €58,555 | ▲ 20.6% |
| Operating cash flow (approximation) | €267,039 | €306,805 | €376,698 | -€21,568 | €329,638 | €432,230 | €118,915 | €392,877 | ▲ 230% |
| Investment in fixed assets (approximation) | - | -€4,849 | -€65,250 | -€7,454 | -€16,219 | -€124,235 | -€149,121 | -€11,705 | ▲ 92.2% |
| Change in cash | - | -€120,248 | €18,331 | €100,051 | -€95,278 | €97,493 | €79,763 | €393,878 | ▲ 394% |
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, 20,136 companies had the same profile as L.E.D. TECHNO has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of L.E.D. TECHNO 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 20,136 companies, not a prediction for L.E.D. TECHNO. 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 40 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00502021 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00481065 | |
| 31-12-2023 | abbreviated format | 12-07-2024 | 2024-00259020 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00285997 | |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20272443 | |
| 31-12-2020 | abbreviated format | 02-07-2021 | 2021-29800499 | |
| 31-12-2019 | abbreviated format | 28-08-2020 | 2020-47600011 | |
| 31-12-2018 | abbreviated format | 25-07-2019 | 2019-39000584 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61700437 | |
| 31-12-2016 | abbreviated format | 06-10-2017 | 2017-66700397 |