Equity
Equity fell by 48% in 3 years.
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 27% of them on solvency, 10% on liquidity, 34% on profitability and 67% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,713 companies had the same profile as LDB Projects has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LDB Projects itself is lower: 0.1% within 12 months. It rests on far more data about LDB Projects than the profile alone.
The method was tested on the 497,447 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 6,713 companies, not a prediction for LDB Projects. 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.
Liquidity is insufficient, with a current ratio of 0.87 (0.76 in 2024), below 1. Short-term debt is 71.8% and cash 13.5% of total assets. 71.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 1 day after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| LDB Projects Kasterlee | €128,580 | €16,801 | 28.2% | - |
| QUALITEP Schelle | €136,916 | €17,065 | 92.4% | - |
| AV CONSULTANCY Edegem | €129,869 | €16,821 | 69.6% | - |
| Triple Lacing Consulting Essen | €111,593 | €16,835 | 16.7% | - |
| CAPTALOG Denderleeuw | €139,804 | €15,983 | 90.8% | - |
| LucidIT Consulting Ixelles | €132,303 | €18,662 | 14.4% | - |
| RAMUS.BE Nijlen | €124,654 | €16,090 | -1.7% | - |
These companies have the same main activity as LDB Projects: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €112,000 and €140,000, founded between 2017 and 2019.
LDB Projects files the micro format. That format states no turnover. The gross margin rose from €2,902 in 2019 to €16,801 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €89,000. Estimated: probably between €43,000 and €180,000.
Higher than 26% of 21,206 companies in 2025.
Higher than 13% of 20,569 companies in 2025.
Higher than 26% of 20,744 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
128,580 | 137,107 | 100,586 | 105,207 | 43,761 | 68,536 | 27,557 | |
21/28 |
48,700 | 55,254 | 34,017 | 36,928 | 7,383 | 8,392 | 3,873 | |
22/27 |
19,000 | 25,554 | 4,317 | 7,228 | 7,383 | 8,392 | 3,873 | |
22 |
12,500 | 12,500 | - | - | - | - | - | |
23 |
1,027 | 1,314 | 1,696 | 2,361 | 3,308 | 4,256 | 2,530 | |
24 |
5,472 | 11,740 | 2,621 | 4,867 | 4,074 | 4,136 | 1,343 | |
28 |
29,700 | 29,700 | 29,700 | 29,700 | - | - | - | |
29/58 |
79,881 | 81,853 | 66,569 | 68,280 | 36,379 | 60,145 | 23,684 | |
40/41 |
55,147 | 67,246 | 49,354 | 47,795 | 23,595 | 30,250 | 21,780 | |
40 |
30,147 | 24,696 | 24,354 | 47,795 | 23,595 | 30,250 | 21,780 | |
41 |
25,000 | 42,550 | 25,000 | - | - | - | - | |
54/58 |
17,307 | 4,572 | 2,827 | 1,879 | 1,582 | 17,412 | 82 | |
490/1 |
7,426 | 10,035 | 14,388 | 18,605 | 11,202 | 12,483 | 1,822 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
128,580 | 137,107 | 100,586 | 105,207 | 43,761 | 68,536 | 27,557 | |
10/15 |
36,294 | 29,795 | 29,465 | 69,426 | 24,710 | 51,445 | 18,760 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | |
13 |
17,694 | 11,195 | 10,865 | 50,826 | 6,110 | 32,845 | 160 | |
130/1 |
- | - | - | 160 | 160 | 160 | - | |
130 |
- | - | - | - | - | - | 160 | |
1311 |
- | - | - | 160 | 160 | 160 | - | |
133 |
17,694 | 11,195 | 10,865 | 50,666 | 5,950 | 32,685 | - | |
17/49 |
92,286 | 107,312 | 71,121 | 35,782 | 19,052 | 17,092 | 8,797 | |
42/48 |
92,286 | 107,312 | 71,121 | 30,520 | 18,952 | 17,092 | 8,797 | |
44 |
16,605 | 5,384 | 15,383 | 1,512 | 355 | 2,206 | 2,381 | |
440/4 |
16,605 | 5,384 | 15,383 | 1,512 | 355 | 2,206 | 2,381 | |
45 |
5,969 | 3,643 | 2,223 | 20,354 | 15,385 | 14,425 | 4,833 | |
450/3 |
5,969 | 3,643 | 2,223 | 20,354 | 15,385 | 14,425 | 1,398 | |
454/9 |
- | - | - | - | - | - | 3,435 | |
47/48 |
69,712 | 98,284 | 53,515 | 8,653 | 3,212 | 461 | 1,583 | |
492/3 |
- | - | - | 5,262 | 100 | - | - | |
| Income statement | ||||||||
76A |
- | - | - | 19,480 | - | - | - | |
9900 |
16,801 | 6,432 | -2,977 | 56,889 | -20,253 | 44,458 | 2,902 | |
62 |
- | - | - | - | 537 | - | - | |
630 |
6,554 | 2,660 | 2,911 | 3,217 | 2,958 | 1,832 | 1,835 | |
640/8 |
1,156 | 2,907 | 2,035 | 783 | 1,232 | 269 | 230 | |
9901 |
9,091 | 866 | -7,923 | 52,889 | -24,981 | 42,357 | 837 | |
75/76B |
1,440 | 1,602 | 912 | - | - | 1 | 2 | |
75 |
1,440 | 1,602 | 912 | - | - | 1 | 2 | |
65/66B |
1,397 | 2,138 | 2,447 | 1,328 | 1,432 | 951 | 279 | |
65 |
1,397 | 2,138 | 2,447 | 1,328 | 1,432 | 951 | 279 | |
9903 |
9,134 | 330 | -9,457 | 51,561 | -26,412 | 41,407 | 560 | |
67/77 |
2,635 | - | 503 | 6,845 | 323 | 8,722 | 400 | |
9904 |
6,499 | 330 | -9,960 | 44,716 | -26,735 | 32,685 | 160 | |
9905 |
6,499 | 330 | -9,960 | 44,716 | -26,735 | 32,685 | 160 | |
| Appropriation of the result | ||||||||
9906 |
6,499 | 330 | -9,960 | 44,716 | -26,735 | 32,685 | 160 | |
791/2 |
- | - | 39,960 | - | 26,735 | - | - | |
691/2 |
6,499 | 330 | - | 44,716 | - | 32,685 | 160 | |
6920 |
- | - | - | - | - | - | 160 | |
6921 |
6,499 | 330 | - | 44,716 | - | 32,685 | - | |
694/7 |
- | - | 30,000 | - | - | - | - | |
694 |
- | - | 30,000 | - | - | - | - | |
| Document | ||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00359319 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00203679 | |
| 31-12-2023 | micro format | 22-07-2024 | 2024-00268951 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00177303 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20155798 | |
| 31-12-2020 | micro format | 17-08-2021 | 2021-49600542 | |
| 31-12-2019 | micro format | 06-11-2020 | 2020-68900403 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 15,645 | 3,526 | -5,012 | 56,106 | -22,022 | 44,189 | 2,672 | ||
| 13,053 | 2,990 | -7,049 | 47,933 | -23,777 | 34,517 | 1,995 | ||
| 0 | 23,897 | 0 | 40,554 | 1,949 | 6,350 | 5,709 | ||
| 12,735 | 1,745 | 948 | 298 | -15,830 | 17,330 | - | ||
| -12,405 | -25,459 | -4,551 | 37,760 | 17,427 | 43,053 | 14,887 | ||
| 28.2% | 21.7% | 29.3% | 66.0% | 56.5% | 75.1% | 68.1% | ||
| 0.87 | 0.76 | 0.94 | 2.24 | 1.92 | 3.52 | 2.69 | ||
| 2.54 | 3.60 | 2.41 | 0.52 | 0.77 | 0.33 | 0.47 | ||
| 17.9% | 1.1% | -33.8% | 64.4% | -108.2% | 63.5% | 0.9% | ||
| 5.1% | 0.2% | -9.9% | 42.5% | -61.1% | 47.7% | 0.6% | ||
| 11.20 | 1.65 | -2.05 | 42.26 | -15.38 | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €23,897 | - | €10,854 | €1,949 |
| Financial fixed assets | - | - | - | €29,700 | - |
| €6,554 | €2,660 | €2,911 | €3,217 | €2,958 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is over 10 times that of 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 78.3% to 71.8%. Equity is higher and debt is lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| ACARAS
registered office since 29-12-2010 · founded in 2010 |
total assets €101,929 (2025) 0832.390.652 |
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Dressenstraat 31 registered office 2460 Kasterlee | 31-08-2018 | 2.279.512.272 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 13018B0263/00K000 | 882 m² | 1 · 126 m² | 7.5 m · 2 |
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