LANOO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-04-2026 PDF all 19 filings
Turnover
≈ €320,000
Estimated: probably between €170,000 and €440,000
Total assets
€446,175▲ 10.5%
2024 · €403,660
Net result
€35,990▲ 17.9%
2024 · €30,525
Working capital
€291,672▲ 16.3%
2024 · €250,685
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€36,151
▲ 24.8%
2025
20192025
Net result
€35,990
▲ 17.9%
2025
highest quarter of the sector
20192025
Equity
€219,846
▲ 19.6%
2025
highest quarter of the sector
20192025
Total assets
€446,175
▲ 10.5%
2025
highest quarter of the sector
20192025
Debt
€226,329
▲ 3.0%
2025
20192025
Working capital
€291,672
▲ 16.3%
2025
highest quarter of the sector
20192025
Solvency
49.3%
▲ 3.7pp
2025
middle half of the sector
20192025
Current ratio
4.56
▲ 0.17
2025
highest quarter of the sector
20192025
Return on assets (ROA)
8.1%
▲ 0.5pp
2025
middle half of the sector
20192025
Staff (FTE)
2.5
▼ 37.5%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€14,508-€29,571▲ 104%€47,489▲ 60.6%€20,990▼ 55.8%-€31,505€28,976€36,151▲ 24.8%
Net result€17,007-€37,584above the sector's middle half▲ 121%€53,880above the sector's middle half▲ 43.4%€23,073above the sector's middle half▼ 57.2%-€22,698below the sector's middle half€30,525above the sector's middle half€35,990above the sector's middle half▲ 17.9%
Equity€61,491-€99,075within the sector's middle half▲ 61.1%€152,955above the sector's middle half▲ 54.4%€176,028above the sector's middle half▲ 15.1%€153,331above the sector's middle half▼ 12.9%€183,855above the sector's middle half▲ 19.9%€219,846above the sector's middle half▲ 19.6%
Total assets€389,844-€422,621above the sector's middle half▲ 8.4%€444,918above the sector's middle half▲ 5.3%€463,614above the sector's middle half▲ 4.2%€425,686above the sector's middle half▼ 8.2%€403,660above the sector's middle half▼ 5.2%€446,175above the sector's middle half▲ 10.5%
Debt€328,353-€323,546▼ 1.5%€291,963▼ 9.8%€287,586▼ 1.5%€272,356▼ 5.3%€219,805▼ 19.3%€226,329▲ 3.0%
Working capital€327,259-€369,254above the sector's middle half▲ 12.8%€289,632above the sector's middle half▼ 21.6%€317,764above the sector's middle half▲ 9.7%€238,962above the sector's middle half▼ 24.8%€250,685above the sector's middle half▲ 4.9%€291,672above the sector's middle half▲ 16.3%
Solvency15.8%-23.4%within the sector's middle half▲ 7.7pp34.4%within the sector's middle half▲ 10.9pp38.0%within the sector's middle half▲ 3.6pp36.0%within the sector's middle half▼ 1.9pp45.5%within the sector's middle half▲ 9.5pp49.3%within the sector's middle half▲ 3.7pp
Current ratio7.13-8.61above the sector's middle half▲ 1.472.90above the sector's middle half▼ 5.703.21above the sector's middle half▲ 0.312.78above the sector's middle half▼ 0.434.39above the sector's middle half▲ 1.604.56above the sector's middle half▲ 0.17
Return on assets (ROA)4.4%-8.9%within the sector's middle half▲ 4.5pp12.1%within the sector's middle half▲ 3.2pp5.0%within the sector's middle half▼ 7.1pp-5.3%below the sector's middle half▼ 10.3pp7.6%within the sector's middle half▲ 12.9pp8.1%within the sector's middle half▲ 0.5pp
Staff (FTE)2-2within the sector's middle half=2=3.7▲ 85.0%4.3▲ 16.2%4▼ 7.0%2.5▼ 37.5%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 25% 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 €446,175
Fixed assets
€72,539 ▼ 8.1%
Current assets
€373,635 ▲ 15.1%
Equity and liabilities €446,175
Equity
€219,846 ▲ 19.6%
Debt
€226,329 ▲ 3.0%
Debt's share of the balance-sheet total falls from 54.5% to 50.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€50,799▲
2024 · €41,600
Cash flow
€50,639▲
2024 · €43,149
Quick ratio
3.07▲
2024 · 2.78
Debt to equity
1.03▼
2024 · 1.20
ROE
16.4%▼
2024 · 16.6%
Interest coverage
8.66▲
2024 · 5.78
Debt ≤ 1 year
€81,964▲
2024 · €74,032
Debt > 1 year
€137,500=
2024 · €137,500
Income taxes
€3,742▲
2024 · €919
Staff costs
€9,568▼
2024 · €33,038
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 4 | 2 |
| full-time | 0 | 0 | 0 | 1 |
| part-time | 5 | 4 | 4 | 1 |
| in full-time equivalents | 2.1 | 2 | 1.5 | 1.6 |
| Average over the year, in full-time equivalents | 1.7 | 2.1 | 1.6 | 1.2 |
| On a permanent contract | 3 | 2 | 1 | 1 |
| Joined | 2 | 0 | - | 45 |
| Left | 0 | 1 | - | 47 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €54,418 | €38,830 | €8,245 |
| Depreciation and write-downs of the year | €1,016 | €3,836 | €12,625 | €14,648 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €4,000 awarded · €4,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €2,000 | €2,000 |
| 2023 | 1 | €2,000 | €2,000 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,299 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €79,998 | €64,421 | €33,038 | €9,568 | ▼ 71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,238 | €6,593 | €3,378 | €1,016 | €3,836 | €12,625 | €14,648 | ▲ 16.0% |
| Other operating charges640/8 | - | - | - | €7,652 | €9,433 | €5,195 | €5,320 | ▲ 2.4% |
| Gross operating margin9900 | €111,635 | €116,742 | €109,907 | €109,656 | €46,184 | €79,833 | €65,688 | ▼ 17.7% |
| Operating profit (loss)9901 | €14,508 | €29,571 | €47,489 | €20,990 | -€31,505 | €28,976 | €36,151 | ▲ 24.8% |
| Financial income75/76B | - | - | - | €10,797 | €10,703 | €9,666 | €9,447 | ▼ 2.3% |
| Recurring financial income75 | €9,793 | €10,248 | €10,785 | €10,797 | €10,703 | €9,666 | €9,447 | ▼ 2.3% |
| Financial charges65/66B | - | - | - | €5,922 | €1,526 | €7,198 | €5,865 | ▼ 18.5% |
| Recurring financial charges65 | €6,820 | €1,769 | €3,011 | €5,922 | €1,526 | €7,198 | €5,865 | ▼ 18.5% |
| Profit (loss) for the period before taxes9903 | €17,481 | €38,050 | €55,263 | €25,865 | -€22,328 | €31,443 | €39,732 | ▲ 26.4% |
| Income taxes67/77 | €474 | €467 | €1,383 | €2,792 | €370 | €919 | €3,742 | ▲ 307% |
| Profit (loss) for the period9904 | €17,007 | €37,584 | €53,880 | €23,073 | -€22,698 | €30,525 | €35,990 | ▲ 17.9% |
| Profit (loss) for the period to be appropriated9905 | €17,007 | €37,584 | €53,880 | €23,073 | -€22,698 | €30,525 | €35,990 | ▲ 17.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €389,844 | €422,621 | €444,918 | €463,614 | €425,686 | €403,660 | €446,175 | ▲ 10.5% |
| Fixed assets21/28 | €9,232 | €4,821 | €3,170 | €2,154 | €52,737 | €78,942 | €72,539 | ▼ 8.1% |
| Tangible fixed assets22/27 | €9,232 | €4,821 | €3,170 | €2,154 | €52,737 | €78,942 | €72,539 | ▼ 8.1% |
| Land and buildings22 | - | - | - | €2,154 | €20,580 | €52,898 | €52,883 | = |
| Furniture and vehicles24 | - | - | - | €0 | €32,156 | €26,044 | €19,656 | ▼ 24.5% |
| Current assets29/58 | €380,612 | €417,799 | €441,748 | €461,460 | €372,950 | €324,718 | €373,635 | ▲ 15.1% |
| Stocks and contracts in progress3 | €283,912 | €261,154 | €217,308 | €197,700 | €103,540 | €119,043 | €122,123 | ▲ 2.6% |
| Stocks30/36 | - | - | - | €197,700 | €103,540 | €119,043 | €122,123 | ▲ 2.6% |
| Amounts receivable within one year40/41 | €0 | €14,909 | €600 | €3,960 | €661 | €2,121 | €2,121 | = |
| Trade receivables40 | - | - | - | €3,960 | €661 | €0 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €2,121 | €2,121 | = |
| Cash at bank and in hand54/58 | €88,783 | €133,286 | €217,091 | €254,041 | €264,553 | €200,049 | €246,844 | ▲ 23.4% |
| Deferred charges and accrued income490/1 | - | - | - | €5,759 | €4,197 | €3,505 | €2,548 | ▼ 27.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €389,844 | €422,621 | €444,918 | €463,614 | €425,686 | €403,660 | €446,175 | ▲ 10.5% |
| Equity10/15 | €61,491 | €99,075 | €152,955 | €176,028 | €153,331 | €183,855 | €219,846 | ▲ 19.6% |
| Contributions10/11 | €145,000 | - | - | €145,000 | €145,000 | €145,000 | €145,000 | = |
| Reserves13 | - | - | €7,955 | €31,028 | €31,028 | €38,855 | €74,846 | ▲ 92.6% |
| Distributable reserves133 | - | - | - | €31,028 | €31,028 | €38,855 | €74,846 | ▲ 92.6% |
| Profit (loss) carried forward14 | -€83,509 | -€45,925 | €0 | - | -€22,698 | €0 | - | - |
| Amounts payable17/49 | €328,353 | €323,546 | €291,963 | €287,586 | €272,356 | €219,805 | €226,329 | ▲ 3.0% |
| Amounts payable after more than one year17 | €275,000 | €275,000 | €137,500 | €137,500 | €137,500 | €137,500 | €137,500 | = |
| Financial debts170/4 | - | - | - | €137,500 | €137,500 | €137,500 | €137,500 | = |
| Amounts payable within one year42/48 | €53,353 | €48,546 | €152,116 | €143,697 | €133,988 | €74,032 | €81,964 | ▲ 10.7% |
| Trade debts44 | €3,611 | €6,122 | €9,835 | €12,170 | €9,506 | €4,706 | €3,008 | ▼ 36.1% |
| Suppliers440/4 | - | - | - | €12,170 | €9,506 | €4,706 | €3,008 | ▼ 36.1% |
| Taxes, remuneration and social security45 | - | - | - | €37,558 | €30,564 | €11,408 | €16,904 | ▲ 48.2% |
| Taxes450/3 | - | - | - | €17,028 | €9,751 | €5,002 | €12,506 | ▲ 150% |
| Remuneration and social security454/9 | - | - | - | €20,530 | €20,812 | €6,406 | €4,398 | ▼ 31.3% |
| Other amounts payable47/48 | - | - | - | €93,969 | €93,919 | €57,919 | €62,052 | ▲ 7.1% |
| Accrued charges and deferred income492/3 | - | - | - | €6,390 | €868 | €8,272 | €6,865 | ▼ 17.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,007 | €37,584 | €53,880 | €23,073 | -€22,698 | €30,525 | €35,990 | ▲ 17.9% |
| + Depreciation and write-downs630 | €8,238 | €6,593 | €3,378 | €1,016 | €3,836 | €12,625 | €14,648 | ▲ 16.0% |
| Operating cash flow (approximation) | €25,244 | €44,177 | €57,258 | €24,089 | -€18,862 | €43,149 | €50,639 | ▲ 17.4% |
| Investment in fixed assets (approximation) | - | -€2,182 | -€1,727 | €0 | -€54,418 | -€38,830 | -€8,245 | ▲ 78.8% |
| Change in cash | - | €44,504 | €83,805 | €36,949 | €10,512 | -€64,503 | €46,795 | - |
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, 31,368 companies had the same profile as LANOO has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LANOO 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 31,368 companies, not a prediction for LANOO. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 17-04-2026 | 2026-00082489 | |
| 30-09-2024 | micro format | 11-04-2025 | 2025-00068723 | |
| 30-09-2023 | micro format | 17-04-2024 | 2024-00064526 | |
| 30-09-2022 | micro format | 04-05-2023 | 2023-00080413 | |
| 30-09-2021 | micro format | 14-03-2022 | 2022-07700370 | |
| 30-09-2020 | micro format | 12-05-2021 | 2021-14000364 | |
| 30-09-2019 | micro format | 10-04-2020 | 2020-09100312 | |
| 30-09-2018 | micro format | 18-03-2019 | 2019-07300554 | |
| 30-09-2017 | micro format | 26-02-2018 | 2018-05800321 | |
| 30-09-2016 | abbreviated format | 16-05-2017 | 2017-12300418 |