Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2022 to 2025 closed with a loss. 2023 was the heaviest.
Of this, €552,187 falls due within a year.
In 2025, 2 people joined and 1 left.
Short-term debts rose from €484,334 to €552,187.
Board changed. Latest change 22-06-2026 · 2 in office.
The dashed line is the sector median: 0.1% across 3,823 companies (NACE 85, micro).
About 9 in 100 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 85, micro). It does better than 6% of them on solvency, 15% on liquidity, 6% on profitability and 18% on growth.
The bankruptcy probability was computed on 04-11-2026 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 elevated class on 30-06-2025, 6.3% 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, 6,907 companies had the same profile as LeA Uitgevers has now. Each dot stands for 18 companies, two years later.
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LeA Uitgevers itself is higher: 8.8% within 12 months. It rests on far more data about LeA Uitgevers than the profile alone.
The method was tested on the 497,446 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 6,907 companies, not a prediction for LeA Uitgevers. 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 0.73 (0.29 in 2024), below 1. Short-term debt is 136.8% and cash 24.7% of total assets. Equity is negative.
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 85), the median for financial year 2024 was 16 days before the deadline, and 32% of those companies filed late.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| LeA Uitgevers Ixelles | €0.4m | -€15,836 | -121.8% | 0.7 |
| ACCES CIBLE Forest | €0.3m | -€42,457 | 62.9% | - |
| CALL INTERNATIONAL Waterloo | €0.2m | -€49,939 | -89.5% | 1.1 |
| BACOO Merelbeke-Melle | €1.5m | -€2,093 | 38.1% | 0 |
| AstroWinner Wijnegem | €0.4m | -€7,391 | 0.1% | - |
| DE MALLE KOKS Genk | €0.4m | -€80,787 | -95.1% | - |
| WILAUW Aalst | €0.3m | -€12,575 | 78.6% | - |
These companies have the same main activity as LeA Uitgevers: other education (NACE 85599). They are comparable in size and age: total assets between €195,000 and €1.5m, founded between 1994 and 2011.
LeA Uitgevers files the abbreviated format. That format states no turnover. The gross margin fell from -€10,065 in 2010 to -€15,836 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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