LBA Advisory
ActiveSummary
LBA Advisory has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,302 and a net result of €87,514. Equity is shrinking by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 32% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency47▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.32 in 2024; short-term debt: 78.1% and cash: 81.3% of total assets), and 78.1% 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
21.9%
Return on assets
55.8%
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 24-02-2026, 157 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
157 d early
2024
28 d early
2023
28 d early
2022
41 d early
2021
51 d early
2020
40 d early
2019
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 58 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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. Usually files around 20 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, abbreviated schema
Equity
€34,302▼ 26.7%
2024 · €46,788
Total assets
€156,915▼ 6.3%
2024 · €167,443
Net result
€87,514▼ 1.9%
2024 · €89,189
Working capital
€25,807▼ 33.3%
2024 · €38,703
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€136,672▲ 3.6%€104,754▼ 23.4%€116,069▲ 10.8%€116,888▲ 0.7%€115,662▼ 1.0%
Net result€106,188within the sector's middle half▲ 3.5%€80,798within the sector's middle half▼ 23.9%€90,129within the sector's middle half▲ 11.5%€89,189within the sector's middle half▼ 1.0%€87,514within the sector's middle half▼ 1.9%
Equity€66,671below the sector's middle half▼ 58.5%€67,470below the sector's middle half▲ 1.2%€57,599below the sector's middle half▼ 14.6%€46,788below the sector's middle half▼ 18.8%€34,302below the sector's middle half▼ 26.7%
Total assets€287,535below the sector's middle half▲ 60.0%€163,156below the sector's middle half▼ 43.3%€173,018below the sector's middle half▲ 6.0%€167,443below the sector's middle half▼ 3.2%€156,915below the sector's middle half▼ 6.3%
Debt€220,864▲ 1,051%€95,686▼ 56.7%€115,418▲ 20.6%€120,655▲ 4.5%€122,613▲ 1.6%
Working capital€48,766within the sector's middle half▼ 64.4%€24,016within the sector's middle half▼ 50.8%€32,049within the sector's middle half▲ 33.5%€38,703within the sector's middle half▲ 20.8%€25,807within the sector's middle half▼ 33.3%
Solvency23.2%within the sector's middle half▼ 66.1pp41.4%within the sector's middle half▲ 18.2pp33.3%within the sector's middle half▼ 8.1pp27.9%within the sector's middle half▼ 5.3pp21.9%within the sector's middle half▼ 6.1pp
Current ratio1.22within the sector's middle half▼ 6.931.25within the sector's middle half▲ 0.031.28within the sector's middle half▲ 0.031.32within the sector's middle half▲ 0.041.21within the sector's middle half▼ 0.11
Return on assets (ROA)36.9%above the sector's middle half▼ 20.2pp49.5%above the sector's middle half▲ 12.6pp52.1%above the sector's middle half▲ 2.6pp53.3%above the sector's middle half▲ 1.2pp55.8%above the sector's middle half▲ 2.5pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 1% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €156,915
Fixed assets
€8,495 ▲ 5.1%
Current assets
€148,419 ▼ 6.9%
Equity and liabilities €156,915
Equity
€34,302 ▼ 26.7%
Debt
€122,613 ▲ 1.6%
Debt's share of the balance-sheet total rises from 72.1% to 78.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€123,584▼
2024 · €130,355
Cash flow
€95,436▼
2024 · €102,656
Debt to equity
3.57▲
2024 · 2.58
ROE
255.1%▲
2024 · 190.6%
Interest coverage
748.31▼
2024 · 789.31
Debt ≤ 1 year
€122,613▲
2024 · €120,655
Income taxes
€27,986▲
2024 · €27,533
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
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 6,706 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,025 | €15,171 | €14,354 | €13,467 | €7,922 | ▼ 41.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3,921 | - | - | - | - |
| Other operating charges640/8 | €549 | €2,561 | €2,255 | €5,958 | €911 | ▼ 84.7% |
| Gross operating margin9900 | €145,246 | €126,407 | €132,679 | €136,313 | €124,495 | ▼ 8.7% |
| Operating profit (loss)9901 | €136,672 | €104,754 | €116,069 | €116,888 | €115,662 | ▼ 1.0% |
| Financial income75/76B | €3 | €0 | - | - | €3 | - |
| Recurring financial income75 | €3 | €0 | - | - | €3 | - |
| Financial charges65/66B | €150 | €198 | €165 | €165 | €165 | = |
| Recurring financial charges65 | €150 | €198 | €165 | €165 | €165 | = |
| Profit (loss) for the period before taxes9903 | €136,525 | €104,555 | €115,904 | €116,722 | €115,500 | ▼ 1.0% |
| Income taxes67/77 | €30,337 | €23,757 | €25,775 | €27,533 | €27,986 | ▲ 1.6% |
| Profit (loss) for the period9904 | €106,188 | €80,798 | €90,129 | €89,189 | €87,514 | ▼ 1.9% |
| Profit (loss) for the period to be appropriated9905 | €106,188 | €80,798 | €90,129 | €89,189 | €87,514 | ▼ 1.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €287,535 | €163,156 | €173,018 | €167,443 | €156,915 | ▼ 6.3% |
| Fixed assets21/28 | €17,906 | €43,454 | €25,550 | €8,085 | €8,495 | ▲ 5.1% |
| Tangible fixed assets22/27 | €17,756 | €43,304 | €25,400 | €7,935 | €8,345 | ▲ 5.2% |
| Plant, machinery and equipment23 | €3,610 | €190 | €4,438 | €28 | - | - |
| Furniture and vehicles24 | €14,145 | €43,115 | €20,962 | €7,907 | €8,345 | ▲ 5.5% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €269,629 | €119,702 | €147,467 | €159,358 | €148,419 | ▼ 6.9% |
| Stocks and contracts in progress3 | €39,911 | €23,441 | - | - | - | - |
| Stocks30/36 | €39,911 | €23,441 | - | - | - | - |
| Amounts receivable within one year40/41 | €1,991 | €7,633 | €42,446 | €25,684 | €18,291 | ▼ 28.8% |
| Trade receivables40 | €1,991 | €1,433 | €32,020 | €19,407 | €15,398 | ▼ 20.7% |
| Other amounts receivable41 | - | €6,200 | €10,425 | €6,277 | €2,893 | ▼ 53.9% |
| Cash at bank and in hand54/58 | €224,079 | €81,774 | €101,267 | €129,482 | €127,567 | ▼ 1.5% |
| Deferred charges and accrued income490/1 | €3,649 | €6,854 | €3,755 | €4,192 | €2,561 | ▼ 38.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €287,535 | €163,156 | €173,018 | €167,443 | €156,915 | ▼ 6.3% |
| Equity10/15 | €66,671 | €67,470 | €57,599 | €46,788 | €34,302 | ▼ 26.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €46,211 | €47,010 | €37,139 | €26,328 | €13,842 | ▼ 47.4% |
| Amounts payable17/49 | €220,864 | €95,686 | €115,418 | €120,655 | €122,613 | ▲ 1.6% |
| Amounts payable within one year42/48 | €220,864 | €95,686 | €115,418 | €120,655 | €122,613 | ▲ 1.6% |
| Trade debts44 | €4,930 | €4,602 | €3,715 | €6,605 | €4,126 | ▼ 37.5% |
| Suppliers440/4 | €4,930 | €4,602 | €3,715 | €6,605 | €4,126 | ▼ 37.5% |
| Taxes, remuneration and social security45 | €14,975 | €9,450 | €9,028 | €13,585 | €18,486 | ▲ 36.1% |
| Taxes450/3 | €12,775 | €9,450 | €9,028 | €13,585 | €18,486 | ▲ 36.1% |
| Remuneration and social security454/9 | €2,200 | - | - | - | - | - |
| Other amounts payable47/48 | €200,959 | €81,634 | €102,675 | €100,465 | €100,000 | ▼ 0.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €106,188 | €80,798 | €90,129 | €89,189 | €87,514 | ▼ 1.9% |
| + Depreciation and write-downs630 | €8,025 | €15,171 | €14,354 | €13,467 | €7,922 | ▼ 41.2% |
| Operating cash flow (approximation) | €114,213 | €95,969 | €104,484 | €102,656 | €95,436 | ▼ 7.0% |
| Investment in fixed assets (approximation) | - | -€40,719 | €3,550 | €3,998 | -€8,332 | ▼ 308% |
| Change in cash | - | -€142,305 | €19,492 | €28,216 | -€1,915 | ▼ 107% |
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
Next filing, fiscal year 2026, expected by
2026
24-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €106,188 ▲3.5%
Operating result €136,672, net result €106,188, both a record.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity triplescurrent ratio 8.15
Current ratio from 2.37 to 8.15; short-term debt falls from €28,398 to €19,182.
31-12
Financial
Equity above €150,000Eq €160,483 ▲177%
2 profitable years in a row build equity to €160,483.
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €50,071
Net result €50,071 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.37
Current ratio from 0.86 to 2.37; short-term debt falls from €108,400 to €28,398.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Kraainem · 1 establishment unit since 2017
Ground area
1,432 m²
Building footprint
183 m²
Volume, LiDAR
1,203 m³
Parcel 22002C0047/00S014, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LBA Advisory
since 20172.267.649.568
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22002C0047/00S014 | Flanders | 1,432 m² | 1 · 183 m² | 10.7 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 12,955 companies in sector 47120 we hold annual accounts for 2,193. 1,477 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
Founded10-08-2017
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
46389Wholesale of other food products
68110Buying and selling of own real estate
70200Business and other management consultancy
93299Other amusement and recreation activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0679737101
Also
9925:BE0679737101
Registered
21-11-2025
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.