LATHY
ActiveSummary
LATHY has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €616,355 and a net result of €71,549. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 59% of 36386 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▲+2
Solvency79▲+7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 3.38 against 2.71 in 2023; short-term debt: 8.8% and cash: 17.1% of total assets), and 45.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-07-2025, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
16 d early
2023
36 d early
2022
39 d early
2021
11 d early
2020
32 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 27 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€616,355▲ 13.0%
2023 · €545,605
Total assets
€1.1m▼ 2.4%
2023 · €1.2m
Net result
€71,549▲ 28.1%
2023 · €55,867
Working capital
€237,708▲ 11.9%
2023 · €212,505
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€150,252▼ 4.0%€13,753▼ 90.8%€19,765▲ 43.7%€78,262▲ 296%€119,318▲ 52.5%
Net result€117,800above the sector's middle half▲ 0.4%€6,982within the sector's middle half▼ 94.1%€6,857within the sector's middle half▼ 1.8%€55,867above the sector's middle half▲ 715%€71,549above the sector's middle half▲ 28.1%
Equity€472,099above the sector's middle half▲ 32.6%€478,281above the sector's middle half▲ 1.3%€490,538above the sector's middle half▲ 2.6%€545,605above the sector's middle half▲ 11.2%€616,355above the sector's middle half▲ 13.0%
Total assets€1.2mabove the sector's middle half▲ 13.0%€1.1mabove the sector's middle half▼ 8.3%€1.2mabove the sector's middle half▲ 3.6%€1.2mabove the sector's middle half▲ 0.6%€1.1mabove the sector's middle half▼ 2.4%
Debt€747,271▲ 3.3%€639,646▼ 14.4%€667,912▲ 4.4%€619,746▼ 7.2%€521,140▼ 15.9%
Working capital-€89,518below the sector's middle half€45,969within the sector's middle half€116,344above the sector's middle half▲ 153%€212,505above the sector's middle half▲ 82.7%€237,708above the sector's middle half▲ 11.9%
Solvency38.7%within the sector's middle half▲ 5.7pp42.8%within the sector's middle half▲ 4.1pp42.3%within the sector's middle half▼ 0.4pp46.8%within the sector's middle half▲ 4.5pp54.2%within the sector's middle half▲ 7.4pp
Current ratio0.64below the sector's middle half▼ 0.551.36within the sector's middle half▲ 0.721.71within the sector's middle half▲ 0.352.71within the sector's middle half▲ 1.003.38above the sector's middle half▲ 0.67
Return on assets (ROA)9.7%within the sector's middle half▼ 1.2pp0.6%below the sector's middle half▼ 9.0pp0.6%below the sector's middle half=4.8%within the sector's middle half▲ 4.2pp6.3%within the sector's middle half▲ 1.5pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 2021 the operating result has climbed three years in a row; 2024 is 52% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€799,796 ▼ 3.5%
Current assets
€337,699 ▲ 0.2%
Equity and liabilities €1.1m
Equity
€616,355 ▲ 13.0%
Debt
€521,140 ▼ 15.9%
Debt's share of the balance-sheet total falls from 53.2% to 45.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€258,997▲
2023 · €222,403
Cash flow
€211,228▲
2023 · €200,008
Quick ratio
3.19▲
2023 · 2.55
Debt to equity
0.85▼
2023 · 1.14
ROE
11.6%▲
2023 · 10.2%
Interest coverage
18.46▲
2023 · 16.08
Debt ≤ 1 year
€99,991▼
2023 · €124,407
Debt > 1 year
€421,149▼
2023 · €495,339
Income taxes
€33,750▲
2023 · €8,579
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,810 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,889 | - | €5,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €124,976 | €174,502 | €171,574 | €144,141 | €139,679 | ▼ 3.1% |
| Other operating charges640/8 | - | €4,765 | €6,427 | €7,665 | €6,588 | ▼ 14.1% |
| Gross operating margin9900 | €280,718 | €193,020 | €197,766 | €230,068 | €265,585 | ▲ 15.4% |
| Operating profit (loss)9901 | €150,252 | €13,753 | €19,765 | €78,262 | €119,318 | ▲ 52.5% |
| Financial income75/76B | - | €113 | €3 | €13 | €12 | ▼ 7.7% |
| Recurring financial income75 | €20 | €113 | €3 | €13 | €12 | ▼ 7.7% |
| Financial charges65/66B | - | €13,094 | €12,911 | €13,829 | €14,031 | ▲ 1.5% |
| Recurring financial charges65 | €12,970 | €13,094 | €12,911 | €13,829 | €14,031 | ▲ 1.5% |
| Profit (loss) for the period before taxes9903 | €137,302 | €772 | €6,857 | €64,446 | €105,299 | ▲ 63.4% |
| Income taxes67/77 | €19,502 | -€6,210 | - | €8,579 | €33,750 | ▲ 293% |
| Profit (loss) for the period9904 | €117,800 | €6,982 | €6,857 | €55,867 | €71,549 | ▲ 28.1% |
| Profit (loss) for the period to be appropriated9905 | €117,800 | €6,982 | €6,857 | €55,867 | €71,549 | ▲ 28.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.1m | €1.2m | €1.2m | €1.1m | ▼ 2.4% |
| Fixed assets21/28 | €1.1m | €943,761 | €878,175 | €828,439 | €799,796 | ▼ 3.5% |
| Intangible fixed assets21 | €755 | €849 | €390 | €271 | €177 | ▼ 34.7% |
| Tangible fixed assets22/27 | €1.1m | €942,912 | €877,785 | €828,168 | €799,619 | ▼ 3.4% |
| Land and buildings22 | - | €634,565 | €631,122 | €610,084 | €552,475 | ▼ 9.4% |
| Plant, machinery and equipment23 | - | €271,211 | €181,927 | €163,070 | €139,060 | ▼ 14.7% |
| Furniture and vehicles24 | - | €37,136 | €64,736 | €55,014 | €35,930 | ▼ 34.7% |
| Assets under construction and advance payments27 | - | - | - | - | €72,154 | - |
| Current assets29/58 | €159,097 | €174,166 | €280,275 | €336,912 | €337,699 | ▲ 0.2% |
| Stocks and contracts in progress3 | €7,332 | €13,142 | €16,554 | €19,450 | €18,580 | ▼ 4.5% |
| Stocks30/36 | - | €13,142 | €16,554 | €19,450 | €18,580 | ▼ 4.5% |
| Amounts receivable within one year40/41 | €15,229 | €92,722 | €120,834 | €111,835 | €117,560 | ▲ 5.1% |
| Trade receivables40 | - | €62,722 | €60,834 | €90,265 | €99,408 | ▲ 10.1% |
| Other amounts receivable41 | - | €30,000 | €60,000 | €21,570 | €18,152 | ▼ 15.8% |
| Cash at bank and in hand54/58 | €126,864 | €63,697 | €137,225 | €199,784 | €194,897 | ▼ 2.4% |
| Deferred charges and accrued income490/1 | - | €4,605 | €5,662 | €5,843 | €6,662 | ▲ 14.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.1m | €1.2m | €1.2m | €1.1m | ▼ 2.4% |
| Equity10/15 | €472,099 | €478,281 | €490,538 | €545,605 | €616,355 | ▲ 13.0% |
| Contributions10/11 | - | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €459,699 | €465,881 | €471,938 | €527,005 | €597,755 | ▲ 13.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €464,021 | €470,078 | €525,145 | €595,895 | ▲ 13.5% |
| Amounts payable17/49 | €747,271 | €639,646 | €667,912 | €619,746 | €521,140 | ▼ 15.9% |
| Amounts payable after more than one year17 | €498,656 | €511,449 | €503,981 | €495,339 | €421,149 | ▼ 15.0% |
| Financial debts170/4 | - | €511,449 | €503,981 | €495,339 | €421,149 | ▼ 15.0% |
| Amounts payable within one year42/48 | €248,615 | €128,197 | €163,931 | €124,407 | €99,991 | ▼ 19.6% |
| Current portion of amounts payable after more than one year42 | - | €91,429 | €86,736 | €82,955 | €74,190 | ▼ 10.6% |
| Trade debts44 | €173,045 | €18,300 | €66,636 | €33,248 | €16,939 | ▼ 49.1% |
| Suppliers440/4 | - | €18,300 | €66,636 | €33,248 | €16,939 | ▼ 49.1% |
| Taxes, remuneration and social security45 | - | €9,352 | €6,035 | €4,055 | €3,839 | ▼ 5.3% |
| Taxes450/3 | - | €7,760 | €6,035 | €2,416 | €3,839 | ▲ 58.9% |
| Remuneration and social security454/9 | - | €1,592 | - | €1,639 | - | - |
| Other amounts payable47/48 | - | €9,116 | €4,524 | €4,149 | €5,023 | ▲ 21.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €117,800 | €6,982 | €6,857 | €55,867 | €71,549 | ▲ 28.1% |
| + Depreciation and write-downs630 | €124,976 | €174,502 | €171,574 | €144,141 | €139,679 | ▼ 3.1% |
| Operating cash flow (approximation) | €242,776 | €181,484 | €178,431 | €200,008 | €211,228 | ▲ 5.6% |
| Investment in fixed assets (approximation) | - | -€57,990 | -€105,988 | -€94,405 | -€111,036 | ▼ 17.6% |
| Change in cash | - | -€63,167 | €73,528 | €62,559 | -€4,887 | ▼ 108% |
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
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €500,000Eq €545,605 ▲11.2%
6 profitable years in a row build equity to €545,605.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €6,857 ▼1.8%
Net result drops to €6,857, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 1.36
Current ratio from 0.64 to 1.36; short-term debt falls from €248,615 to €128,197.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
12-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zaventem · 1 establishment unit since 2012
Ground area
236 m²
Building footprint
87 m²
Volume, LiDAR
502 m³
Parcel 23082D0340/00Y002, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LATHY
since 20122.214.698.060
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23082D0340/00Y002 | Flanders | 236 m² | 1 · 87 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 5,502 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
Founded28-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43240Other construction installation
43332Laying of wooden floor and wall coverings
43343Specialised construction activities
43410Roofing work
43421Specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0849091082
Also
9925:BE0849091082
Registered
27-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.