Summary
LD20 is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.37M and a net result of €112k. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 61% of 8048 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 28-07-2026, 3 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
3 d early
2024
38 d early
2023
69 d early
2022
70 d early
2021
62 d early
2020
64 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.37M▲ 8.9%
2024 · €1.26M
Net result
€112k▼ 57.9%
2024 · €266k
Total assets
€2.12M▲ 4.4%
2024 · €2.03M
Solvency
64.8%▲ 2.7pp
2024 · 62.1%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€320k▼ 58.2%€351k▲ 9.6%€397k▲ 13.3%€360k▼ 9.4%€127k▼ 64.6%
Net result€245k▼ 57.5%€268k▲ 9.4%€303k▲ 12.8%€266k▼ 12.2%€112k▼ 57.9%
Equity€824k▲ 42.3%€1.09M▲ 32.6%€995k▼ 8.9%€1.26M▲ 26.7%€1.37M▲ 8.9%
Total assets€2.03M▲ 51.9%€2.12M▲ 4.3%€1.97M▼ 6.8%€2.03M▲ 2.9%€2.12M▲ 4.4%
Debt€1.21M▲ 59.2%€1.03M▼ 15.0%€978k▼ 4.6%€770k▼ 21.3%€747k▼ 3.0%
Working capital€322k▼ 6.3%€550k▲ 70.8%€447k▼ 18.9%€811k▲ 81.6%€933k▲ 15.1%
Solvency40.6%▼ 2.7pp51.6%▲ 11.0pp50.4%▼ 1.1pp62.1%▲ 11.7pp64.8%▲ 2.7pp
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 65% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.12M
Fixed assets
€1.11M ▼ 4.6%
Current assets
€1.01M ▲ 16.4%
Equity and liabilities €2.12M
Equity
€1.37M ▲ 8.9%
Debt
€747k ▼ 3.0%
Debt's share of the balance-sheet total falls from 37.9% to 35.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.2%▼
2024 · 21.1%
ROA
5.3%▼
2024 · 13.1%
Debt ≤ 1 year
€73k▲
2024 · €53k
Debt > 1 year
€674k▼
2024 · €717k
Income taxes
€34k▼
2024 · €92k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38k | €44k | €45k | €52k | €53k | ▲ 2.2% |
| Other operating charges640/8 | €1k | €3k | €3k | €13k | €8k | ▼ 33.1% |
| Gross operating margin9900 | €359k | €398k | €446k | €425k | €189k | ▼ 55.4% |
| Operating profit (loss)9901 | €320k | €351k | €397k | €360k | €127k | ▼ 64.6% |
| Financial income75/76B | €9k | €12k | €12k | €12k | €33k | ▲ 185% |
| Recurring financial income75 | €9k | €12k | €12k | €12k | €33k | ▲ 185% |
| Financial charges65/66B | €7k | €10k | €10k | €14k | €15k | ▲ 11.6% |
| Recurring financial charges65 | €7k | €10k | €10k | €14k | €15k | ▲ 11.6% |
| Profit (loss) for the period before taxes9903 | €322k | €353k | €399k | €358k | €146k | ▼ 59.3% |
| Income taxes67/77 | €77k | €85k | €97k | €92k | €34k | ▼ 63.5% |
| Profit (loss) for the period9904 | €245k | €268k | €303k | €266k | €112k | ▼ 57.9% |
| Profit (loss) for the period to be appropriated9905 | €245k | €268k | €303k | €266k | €112k | ▼ 57.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.03M | €2.12M | €1.97M | €2.03M | €2.12M | ▲ 4.4% |
| Fixed assets21/28 | €1.35M | €1.34M | €1.31M | €1.17M | €1.11M | ▼ 4.6% |
| Tangible fixed assets22/27 | €1.35M | €1.34M | €1.31M | €1.17M | €1.11M | ▼ 4.6% |
| Land and buildings22 | €1.28M | €1.26M | €1.24M | €1.10M | €1.07M | ▼ 2.8% |
| Furniture and vehicles24 | €69k | €80k | €67k | €66k | €44k | ▼ 33.9% |
| Financial fixed assets28 | €280 | €280 | €280 | €536 | €536 | = |
| Current assets29/58 | €685k | €774k | €665k | €864k | €1.01M | ▲ 16.4% |
| Amounts receivable after more than one year29 | €450k | €450k | €450k | €450k | €450k | = |
| Other amounts receivable291 | €450k | €450k | €450k | €450k | €450k | = |
| Amounts receivable within one year40/41 | €201k | €289k | €28 | €385k | €514k | ▲ 33.3% |
| Trade receivables40 | €201k | €243k | €28 | €33k | €30k | ▼ 8.0% |
| Other amounts receivable41 | - | €46k | €0 | €353k | €484k | ▲ 37.2% |
| Cash at bank and in hand54/58 | €32k | €35k | €203k | €27k | €38k | ▲ 39.2% |
| Deferred charges and accrued income490/1 | €2k | €276 | €12k | €1k | €4k | ▲ 217% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.03M | €2.12M | €1.97M | €2.03M | €2.12M | ▲ 4.4% |
| Equity10/15 | €824k | €1.09M | €995k | €1.26M | €1.37M | ▲ 8.9% |
| Contributions10/11 | €3k | €3k | €3k | €3k | €3k | = |
| Reserves13 | €822k | €1.09M | €992k | €1.26M | €1.37M | ▲ 8.9% |
| Distributable reserves133 | €822k | €1.09M | €992k | €1.26M | €1.37M | ▲ 8.9% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €1.21M | €1.03M | €978k | €770k | €747k | ▼ 3.0% |
| Amounts payable after more than one year17 | €843k | €801k | €759k | €717k | €674k | ▼ 6.0% |
| Financial debts170/4 | €843k | €801k | €759k | €717k | €674k | ▼ 6.0% |
| Amounts payable within one year42/48 | €363k | €224k | €219k | €53k | €73k | ▲ 37.1% |
| Current portion of amounts payable after more than one year42 | €41k | €42k | €42k | €43k | €43k | ▲ 1.1% |
| Financial debts43 | - | - | - | €44 | €0 | ▼ 100% |
| Other loans439 | - | - | - | €44 | €0 | ▼ 100% |
| Trade debts44 | €13k | €6k | €4k | €10k | €7k | ▼ 28.1% |
| Suppliers440/4 | €13k | €6k | €4k | €10k | €7k | ▼ 28.1% |
| Taxes, remuneration and social security45 | €281k | €176k | €154k | €591 | €23k | ▲ 3,747% |
| Taxes450/3 | €278k | €176k | €151k | €591 | €23k | ▲ 3,747% |
| Remuneration and social security454/9 | €3k | €344 | €4k | €0 | - | - |
| Other amounts payable47/48 | €28k | - | €18k | €0 | - | - |
| Accrued charges and deferred income492/3 | €619 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €245k | €268k | €303k | €266k | €112k | ▼ 57.9% |
| + Depreciation and write-downs630 | €38k | €44k | €45k | €52k | €53k | ▲ 2.2% |
| Operating cash flow (approximation) | €283k | €312k | €348k | €318k | €165k | ▼ 48.0% |
| Investment in fixed assets (approximation) | - | €-42k | €-10k | €89k | €0 | ▼ 100% |
| Change in cash | - | €3k | €168k | €-175k | €11k | ▲ 106% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €112k ▼57.9%
Net result drops to €112k, the lowest in the series.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 5current ratio 16.23
Current ratio from 3.04 to 16.23; short-term debt falls from €219k to €53k.
31-12
Financial
Equity above €1MEq €1.26M ▲26.7%
5 profitable years in a row build equity to €1.26M.
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €1MEq €1.09M ▲32.6%
3 profitable years in a row build equity to €1.09M.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro 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, Geel · 1 establishment unit since 2020
Ground area
1,230 m²
Building footprint
137 m²
Volume, LiDAR
233 m³
Parcel 13376G0148/00H000, Flanders · tallest building 7.7 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
LD20
since 20202.298.478.643
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13376G0148/00H000 | Flanders | 1,230 m² | 1 · 137 m² | 7.7 m |
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 24,730 companies in sector 64210 we hold annual accounts for 19,766. 11,971 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
Founded22-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Contact
E-mail
paul.baeyens@hotmail.com
Scores and ratios are computed by Checked and are not a credit decision.