Equity
Equity fell by 93% in 4 years.
In July 2024, 5,053 companies had the same profile as LDC has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 5,053 companies, not a prediction for LDC. 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.
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.
| Company | ||||
|---|---|---|---|---|
| LDC Kapellen | €159,141 | €148,873 | 13.8% | - |
| ROSSINANT Antwerp | €142,459 | €146,009 | 26.3% | 1 |
| MANSOURCE BELGIUM Wommelgem | €130,932 | €158,248 | 41.7% | - |
| ANDROMEDA SERVICES Beveren-Kruibeke-Zwijndrecht | €153,242 | €142,328 | 83.8% | - |
| SLV Management Zandhoven | €127,229 | €137,508 | 37.8% | - |
| FLEXXLEX Puurs-Sint-Amands | €142,097 | €145,522 | 15.5% | - |
| VHTH CONSULT Chimay | €162,535 | €148,153 | 90.6% | - |
These companies have the same main activity as LDC: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €127,000 and €163,000, founded between 2008 and 2013.
LDC files the micro format. That format states no turnover. The gross margin rose from €64,066 in 2015 to €148,873 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 ≈ €250,000. Estimated: probably between €210,000 and €300,000.
Higher than 19% of 39,376 companies in 2025.
Higher than 30% of 38,058 companies in 2025.
Higher than 95% of 38,530 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
159,141 | 123,024 | 166,830 | 245,397 | 311,132 | 250,492 | 187,633 | 131,578 | 103,938 | 125,666 | 73,318 | |
21/28 |
2,263 | 3,591 | 3,772 | 4,756 | 868 | 3,364 | 6,226 | 4,895 | 1,244 | 641 | 2,601 | |
22/27 |
2,263 | 3,591 | 3,772 | 4,756 | 868 | 3,364 | 6,226 | 4,895 | 1,244 | 641 | 2,601 | |
23 |
1,804 | 2,788 | 3,772 | 4,756 | 868 | 1,966 | 3,065 | 4,163 | 924 | - | 50 | |
24 |
459 | 803 | - | - | - | 1,398 | 3,161 | 731 | 320 | 641 | 2,551 | |
29/58 |
156,878 | 119,433 | 163,058 | 240,641 | 310,264 | 247,128 | 181,407 | 126,684 | 102,694 | 125,026 | 70,718 | |
40/41 |
2,373 | 2,317 | 161 | 98 | 2,605 | 537 | 18,223 | 16,352 | 23,071 | 14,668 | 31,267 | |
40 |
- | - | 161 | - | 18 | 537 | 17,000 | 16,335 | 6,595 | 13,526 | 29,135 | |
41 |
2,373 | 2,317 | - | 98 | 2,587 | - | 1,223 | 17 | 16,477 | 1,142 | 2,132 | |
50/53 |
- | 25,649 | 25,566 | 132,911 | 132,830 | 102,499 | 72,253 | 49,766 | 39,599 | - | - | |
54/58 |
152,854 | 89,947 | 135,876 | 105,055 | 173,614 | 142,907 | 89,777 | 59,420 | 36,764 | 110,358 | 39,416 | |
490/1 |
1,651 | 1,520 | 1,455 | 2,577 | 1,216 | 1,186 | 1,154 | 1,146 | 3,259 | - | 35 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
159,141 | 123,024 | 166,830 | 245,397 | 311,132 | 250,492 | 187,633 | 131,578 | 103,938 | 125,666 | 73,318 | |
10/15 |
22,000 | 38,657 | 128,398 | 227,626 | 307,628 | 234,727 | 168,483 | 112,926 | 99,725 | 104,786 | 62,305 | |
10/11 |
20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
100 |
- | - | - | - | - | - | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
13 |
2,000 | 18,657 | 108,398 | 207,626 | 287,628 | 214,727 | 148,483 | 92,926 | 77,000 | 84,786 | 42,305 | |
130/1 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
1311 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | - | - | - | |
133 |
- | 16,657 | 106,398 | 205,626 | 285,628 | 212,727 | 146,483 | 90,926 | 75,000 | 82,786 | 40,305 | |
14 |
- | - | - | - | - | - | - | - | 2,725 | - | - | |
17/49 |
137,141 | 84,367 | 38,432 | 17,771 | 3,504 | 15,766 | 19,150 | 18,653 | 4,214 | 20,880 | 11,014 | |
42/48 |
137,141 | 84,367 | 38,432 | 17,771 | 3,504 | 15,766 | 19,150 | 18,158 | 4,214 | 20,880 | 11,014 | |
44 |
2,032 | 2,120 | 2,277 | 2,270 | 2,322 | 4,804 | 14,237 | 7,175 | 3,499 | 1,617 | 6,748 | |
440/4 |
2,032 | 2,120 | 2,277 | 2,270 | 2,322 | 4,804 | 14,237 | 7,175 | 3,499 | 1,617 | 6,748 | |
45 |
3,907 | 2,247 | 36,155 | 15,501 | 1,182 | 10,962 | 4,675 | 10,679 | 360 | 19,133 | 4,076 | |
450/3 |
3,907 | 2,247 | 36,155 | 12,325 | 1,156 | 10,621 | 1,810 | 10,679 | 360 | 19,133 | 4,076 | |
454/9 |
- | - | - | 3,176 | 26 | 341 | 2,865 | - | - | - | - | |
47/48 |
131,202 | 80,000 | - | - | - | - | 238 | 303 | 354 | 129 | 189 | |
492/3 |
- | - | - | - | - | - | - | 495 | - | - | - | |
| Income statement | ||||||||||||
76A |
- | - | 4,525 | - | - | - | - | - | - | 5,452 | - | |
9900 |
148,873 | 125,559 | 133,055 | 117,124 | 94,688 | 87,514 | 74,659 | 21,388 | -3,417 | 57,559 | 64,066 | |
630 |
1,328 | 1,213 | 984 | 1,032 | 2,496 | 2,862 | 2,862 | 1,784 | 551 | 800 | 2,010 | |
640/8 |
183 | 250 | 109 | 226 | 101 | 274 | 98 | 191 | 243 | 92 | 143 | |
9901 |
147,362 | 124,096 | 131,962 | 115,866 | 92,091 | 84,378 | 71,699 | 19,412 | -4,211 | 56,666 | 61,913 | |
75/76B |
870 | 788 | 7,247 | 1,159 | 959 | 865 | 404 | 397 | 190 | 92 | 72 | |
75 |
870 | 788 | 7,247 | 1,159 | 959 | 865 | 404 | 397 | 190 | 92 | 72 | |
65/66B |
588 | 745 | 1,279 | 888 | 524 | 473 | 516 | 576 | 915 | 603 | 618 | |
65 |
588 | 745 | 1,279 | 888 | 524 | 473 | 516 | 576 | 915 | 603 | 618 | |
9903 |
147,643 | 124,139 | 137,930 | 116,137 | 92,526 | 84,770 | 71,587 | 19,234 | -4,937 | 61,607 | 61,367 | |
67/77 |
33,156 | 27,880 | 31,557 | 26,139 | 19,625 | 18,526 | 16,030 | 6,033 | 125 | 19,125 | 19,062 | |
9904 |
114,487 | 96,259 | 106,372 | 89,998 | 72,901 | 66,244 | 55,557 | 13,201 | -5,062 | 42,482 | 42,305 | |
9905 |
114,487 | 96,259 | 106,372 | 89,998 | 72,901 | 66,244 | 55,557 | 13,201 | -5,062 | 42,482 | 42,305 | |
| Appropriation of the result | ||||||||||||
9906 |
114,487 | 96,259 | 106,372 | 89,998 | 72,901 | 66,244 | 55,557 | 15,926 | -5,062 | 42,482 | 42,305 | |
791/2 |
16,657 | 106,000 | 205,600 | 170,000 | - | - | - | - | 7,786 | - | - | |
691/2 |
- | 16,259 | 106,372 | 89,998 | 72,901 | 66,244 | 55,557 | 15,926 | - | 42,482 | 42,305 | |
6920 |
- | - | - | - | - | - | - | - | - | - | 2,000 | |
6921 |
- | 16,259 | 106,372 | 89,998 | 72,901 | 66,244 | 55,557 | 15,926 | - | 42,482 | 40,305 | |
694/7 |
131,144 | 186,000 | 205,600 | 170,000 | - | - | - | - | - | - | - | |
694 |
131,144 | 186,000 | 205,600 | 170,000 | - | - | - | - | - | - | - | |
| Document | ||||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 28-11-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 28-11-2025 | 2025-00574474 | |
| 30-09-2024 | micro format | 18-11-2024 | 2024-00601819 | |
| 30-09-2023 | micro format | 27-02-2024 | 2024-00036003 | |
| 30-09-2022 | micro format | 23-03-2023 | 2023-00045112 | |
| 30-09-2021 | micro format | 25-03-2022 | 2022-08800081 | |
| 30-09-2020 | micro format | 16-04-2021 | 2021-10600195 | |
| 30-09-2019 | micro format | 17-04-2020 | 2020-09400120 | |
| 30-09-2018 | micro format | 09-04-2019 | 2019-09700004 | |
| 30-09-2017 | micro format | 13-04-2018 | 2018-10000111 | |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-08300329 | |
| 30-09-2015 | abbreviated format | 31-03-2016 | 2016-09000369 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 148,690 | 125,309 | 132,946 | 116,898 | 94,587 | 87,240 | 74,561 | 21,197 | -3,660 | 57,467 | 63,923 | ||
| 115,815 | 97,472 | 107,356 | 91,029 | 75,397 | 69,106 | 58,419 | 14,986 | -4,511 | 43,282 | 44,315 | ||
| 0 | 1,032 | 0 | 4,920 | 0 | 0 | 4,193 | 5,435 | 1,155 | -1,160 | 1,922 | ||
| 62,906 | -45,928 | 30,820 | -68,558 | 30,707 | 53,129 | 30,358 | 22,655 | -73,593 | 70,941 | - | ||
| 19,737 | 35,066 | 124,626 | 222,870 | 306,760 | 231,363 | 162,257 | 108,526 | 98,480 | 104,146 | 59,704 | ||
| 13.8% | 31.4% | 77.0% | 92.8% | 98.9% | 93.7% | 89.8% | 85.8% | 95.9% | 83.4% | 85.0% | ||
| 1.14 | 1.42 | 4.24 | 13.54 | 88.54 | 15.68 | 9.47 | 6.98 | 24.37 | 5.99 | 6.42 | ||
| 6.23 | 2.18 | 0.30 | 0.08 | 0.01 | 0.07 | 0.11 | 0.17 | 0.04 | 0.20 | 0.18 | ||
| 520.4% | 249.0% | 82.8% | 39.5% | 23.7% | 28.2% | 33.0% | 11.7% | -5.1% | 40.5% | 67.9% | ||
| 71.9% | 78.2% | 63.8% | 36.7% | 23.4% | 26.4% | 29.6% | 10.0% | -4.9% | 33.8% | 57.7% | ||
| over 100 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €1,032 | - | €4,920 |
| €1,328 | €1,213 | €984 | €1,032 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 19% higher than in 2024 and the highest since 2015. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 68.6% to 86.2%. Equity is lower and debt is higher.
LDC has no parent and no holdings in its annual accounts. is the only director. LDC shares no director with another company.
| Van Soetendael, Max (sole trader)
establishment since 01-12-2020 |
founded in 2020 0763.890.044 |
Deadline for the 2026 accounts: 30-04-2027
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 |
|---|---|---|
| Poeldreef 84 registered office 2950 Kapellen 7020001 Business and other management consultancy | 06-04-2011 | 2.198.436.506 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11362M0072/00S006 | 1,775 m² | 1 · 172 m² | 6.4 m · 2 |
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