LEADERCOM
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 46 days after the deadline Filed on 15 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00513290.
Annual accounts 2025 filed on 15-09-2026 at the NBB all 11 filings
Turnover
≈ €120,000
Estimated: probably between €78,000 and €160,000
Total assets
€114,968▼ 21.9%
2024 · €147,297
Net result
€4,112
2024 · -€16,370
Working capital
€36,938▼ 35.8%
2024 · €57,512
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€38,366
▲ 126%
2025
20182025
Net result
€4,112
2025
middle half of the sector
20182025
Equity
€43,327
▲ 10.5%
2025
middle half of the sector
20182025
Total assets
€114,968
▼ 21.9%
2025
middle half of the sector
20182025
Debt
€71,641
▼ 12.1%
2025
20182025
Working capital
€36,938
▼ 35.8%
2025
middle half of the sector
20182025
Solvency
37.7%
▲ 11.1pp
2025
middle half of the sector
20182025
Current ratio
1.59
▼ 0.19
2025
middle half of the sector
20182025
Return on assets (ROA)
3.6%
▲ 14.7pp
2025
middle half of the sector
20182025
Staff (FTE)
0.8
▼ 20.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,457-€29,079▲ 741%€27,300▼ 6.1%€20,628▼ 24.4%€7,143▼ 65.4%€15,516▲ 117%€16,967▲ 9.3%€38,366▲ 126%
Net result-€2,609-€18,470€15,107within the sector's middle half▼ 18.2%€10,873within the sector's middle half▼ 28.0%€142within the sector's middle half▼ 98.7%€2,289within the sector's middle half▲ 16×-€16,370below the sector's middle half€4,112within the sector's middle half
Equity€11,034-€27,173▲ 146%€42,280within the sector's middle half▲ 55.6%€53,153within the sector's middle half▲ 25.7%€53,295within the sector's middle half▲ 0.3%€55,584within the sector's middle half▲ 4.3%€39,215within the sector's middle half▼ 29.5%€43,327within the sector's middle half▲ 10.5%
Total assets€28,828-€135,570▲ 370%€213,396within the sector's middle half▲ 57.4%€133,028within the sector's middle half▼ 37.7%€147,560within the sector's middle half▲ 10.9%€197,672within the sector's middle half▲ 34.0%€147,297within the sector's middle half▼ 25.5%€114,968within the sector's middle half▼ 21.9%
Debt€17,794-€108,397▲ 509%€171,116▲ 57.9%€79,875▼ 53.3%€94,265▲ 18.0%€113,083▲ 20.0%€81,535▼ 27.9%€71,641▼ 12.1%
Working capital€5,230-€12,826▲ 145%€66,337within the sector's middle half▲ 417%€41,881within the sector's middle half▼ 36.9%€37,786within the sector's middle half▼ 9.8%€89,207within the sector's middle half▲ 136%€57,512within the sector's middle half▼ 35.5%€36,938within the sector's middle half▼ 35.8%
Solvency38.3%-20.0%▼ 18.2pp19.8%within the sector's middle half▼ 0.2pp40.0%within the sector's middle half▲ 20.1pp36.1%within the sector's middle half▼ 3.8pp28.1%within the sector's middle half▼ 8.0pp26.6%within the sector's middle half▼ 1.5pp37.7%within the sector's middle half▲ 11.1pp
Current ratio1.29-1.12▼ 0.181.52within the sector's middle half▲ 0.411.59within the sector's middle half▲ 0.071.42within the sector's middle half▼ 0.171.97within the sector's middle half▲ 0.551.79within the sector's middle half▼ 0.181.59within the sector's middle half▼ 0.19
Return on assets (ROA)-9.1%-13.6%▲ 22.7pp7.1%within the sector's middle half▼ 6.5pp8.2%within the sector's middle half▲ 1.1pp0.1%within the sector's middle half▼ 8.1pp1.2%within the sector's middle half▲ 1.1pp-11.1%below the sector's middle half▼ 12.3pp3.6%within the sector's middle half▲ 14.7pp
Staff (FTE)10.8▼ 20.0%
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 126% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114,968
Fixed assets
€15,596 ▼ 5.9%
Current assets
€99,372 ▼ 24.0%
Equity and liabilities €114,968
Equity
€43,327 ▲ 10.5%
Provisions
€0 ▼ 100%
Debt
€71,641 ▼ 12.1%
Debt's share of the balance-sheet total rises from 55.4% to 62.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,054▲
2024 · €23,431
Cash flow
€11,800▲
2024 · -€9,905
Debt to equity
1.65▼
2024 · 2.08
ROE
9.5%▲
2024 · -41.7%
Interest coverage
1.52▲
2024 · 0.65
Debt ≤ 1 year
€62,434▼
2024 · €73,215
Debt > 1 year
€0▼
2024 · €8,320
Income taxes
€5,697▲
2024 · €536
Staff costs
€11,787▼
2024 · €40,808
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | - |
| full-time | 1 | - |
| part-time | 0 | - |
| in full-time equivalents | 1 | - |
| On a permanent contract | 1 | - |
| Joined | - | 0 |
| Left | - | 1 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,279 | €3,004 | €2,287 | €6,549 | €6,713 |
| Intangible fixed assets | €2,500 | €3,700 | - | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €5,783 | €6,570 | €6,417 | €6,465 | €7,688 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €24,610 | €50,445 | €38,898 | €40,808 | €11,787 | ▼ 71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,065 | €4,576 | €3,762 | €5,783 | €6,570 | €6,417 | €6,465 | €7,688 | ▲ 18.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | €29,005 | -€2,458 | -€26,547 | ▼ 980% |
| Other operating charges640/8 | - | - | - | €5,527 | €8,213 | €20,684 | €1,664 | €1,323 | ▼ 20.5% |
| Non-recurring operating charges66A | - | - | - | €61 | €122 | €1,249 | €10,078 | €8,906 | ▼ 11.6% |
| Gross operating margin9900 | €15,344 | €39,557 | €63,912 | €56,608 | €72,494 | €111,769 | €73,523 | €41,523 | ▼ 43.5% |
| Operating profit (loss)9901 | €3,457 | €29,079 | €27,300 | €20,628 | €7,143 | €15,516 | €16,967 | €38,366 | ▲ 126% |
| Financial income75/76B | - | - | - | €819 | €1,510 | €0 | €3,254 | €1,796 | ▼ 44.8% |
| Recurring financial income75 | €255 | €335 | €130 | €819 | €1,510 | €0 | €3,254 | €1,796 | ▼ 44.8% |
| Financial charges65/66B | - | - | - | €4,937 | €3,066 | €7,100 | €36,055 | €30,353 | ▼ 15.8% |
| Recurring financial charges65 | €5,746 | €2,742 | €4,114 | €4,937 | €3,066 | €7,100 | €36,055 | €30,353 | ▼ 15.8% |
| Profit (loss) for the period before taxes9903 | -€2,034 | €26,673 | €23,317 | €16,510 | €5,586 | €8,416 | -€15,834 | €9,809 | - |
| Income taxes67/77 | €575 | €8,203 | €8,210 | €5,637 | €5,444 | €6,127 | €536 | €5,697 | ▲ 964% |
| Profit (loss) for the period9904 | -€2,609 | €18,470 | €15,107 | €10,873 | €142 | €2,289 | -€16,370 | €4,112 | - |
| Profit (loss) for the period to be appropriated9905 | -€2,609 | €18,470 | €15,107 | €10,873 | €142 | €2,289 | -€16,370 | €4,112 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €28,828 | €135,570 | €213,396 | €133,028 | €147,560 | €197,672 | €147,297 | €114,968 | ▼ 21.9% |
| Fixed assets21/28 | €5,804 | €14,347 | €20,487 | €20,483 | €20,617 | €16,486 | €16,570 | €15,596 | ▼ 5.9% |
| Intangible fixed assets21 | €564 | - | - | €2,432 | €5,082 | €3,842 | €2,602 | €1,362 | ▼ 47.7% |
| Tangible fixed assets22/27 | €1,936 | €13,847 | €19,987 | €17,552 | €15,036 | €12,145 | €13,469 | €13,734 | ▲ 2.0% |
| Plant, machinery and equipment23 | - | - | - | €4,162 | €2,244 | €2,380 | €4,105 | €1,989 | ▼ 51.5% |
| Furniture and vehicles24 | - | - | - | €2,896 | €1,671 | €727 | €1,009 | €5,751 | ▲ 470% |
| Other tangible fixed assets26 | - | - | - | €10,493 | €11,120 | €9,038 | €8,354 | €5,994 | ▼ 28.3% |
| Financial fixed assets28 | €3,304 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €23,024 | €121,223 | €192,910 | €112,545 | €126,943 | €181,186 | €130,726 | €99,372 | ▼ 24.0% |
| Amounts receivable after more than one year29 | - | - | - | €61,892 | €61,892 | €61,892 | €61,892 | €61,892 | = |
| Other amounts receivable291 | - | - | - | €61,892 | €61,892 | €61,892 | €61,892 | €61,892 | = |
| Amounts receivable within one year40/41 | €23,023 | €46,927 | €32,917 | €50,483 | €64,926 | €119,165 | €68,673 | €37,208 | ▼ 45.8% |
| Trade receivables40 | - | - | - | €27,579 | €26,025 | €48,823 | €11,616 | €21,600 | ▲ 86.0% |
| Other amounts receivable41 | - | - | - | €22,904 | €38,901 | €70,342 | €57,057 | €15,608 | ▼ 72.6% |
| Current investments50/53 | €1 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | €12,404 | €97,940 | €1 | €1 | €1 | €1 | €1 | = |
| Deferred charges and accrued income490/1 | - | - | - | €168 | €124 | €128 | €161 | €271 | ▲ 68.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €28,828 | €135,570 | €213,396 | €133,028 | €147,560 | €197,672 | €147,297 | €114,968 | ▼ 21.9% |
| Equity10/15 | €11,034 | €27,173 | €42,280 | €53,153 | €53,295 | €55,584 | €39,215 | €43,327 | ▲ 10.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €17,999 | €33,105 | €33,105 | €33,105 | €35,395 | €35,395 | €37,127 | ▲ 4.9% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €31,245 | €31,245 | €35,395 | €35,395 | €37,127 | ▲ 4.9% |
| Profit (loss) carried forward14 | €2,974 | €2,974 | €2,974 | €13,847 | €13,990 | €13,990 | -€2,380 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | - | - | €29,005 | €26,547 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | €29,005 | €26,547 | €0 | ▼ 100% |
| Other liabilities and charges164/5 | - | - | - | - | - | €29,005 | €26,547 | €0 | ▼ 100% |
| Amounts payable17/49 | €17,794 | €108,397 | €171,116 | €79,875 | €94,265 | €113,083 | €81,535 | €71,641 | ▼ 12.1% |
| Amounts payable after more than one year17 | - | - | €21,432 | €4,324 | €0 | €21,105 | €8,320 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €4,324 | €0 | €21,105 | €8,320 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €17,794 | €108,397 | €126,572 | €70,663 | €89,157 | €91,979 | €73,215 | €62,434 | ▼ 14.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,108 | €4,324 | €10,305 | €11,884 | €8,320 | ▼ 30.0% |
| Financial debts43 | - | - | - | €16,078 | €7,746 | €17,073 | €6,251 | €14,775 | ▲ 136% |
| Credit institutions430/8 | - | - | - | €16,078 | €7,746 | €17,073 | €6,251 | €14,775 | ▲ 136% |
| Trade debts44 | €4,706 | €63,237 | €86,408 | €21,113 | €35,017 | €18,069 | €22,697 | €3,757 | ▼ 83.4% |
| Suppliers440/4 | - | - | - | €21,113 | €35,017 | €18,069 | €22,697 | €3,757 | ▼ 83.4% |
| Taxes, remuneration and social security45 | - | - | - | €16,364 | €42,069 | €46,532 | €32,383 | €35,582 | ▲ 9.9% |
| Taxes450/3 | - | - | - | €12,629 | €36,957 | €42,131 | €19,540 | €22,872 | ▲ 17.0% |
| Remuneration and social security454/9 | - | - | - | €3,735 | €5,112 | €4,401 | €12,842 | €12,710 | ▼ 1.0% |
| Accrued charges and deferred income492/3 | - | - | - | €4,888 | €5,108 | €0 | - | €9,206 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,609 | €18,470 | €15,107 | €10,873 | €142 | €2,289 | -€16,370 | €4,112 | - |
| + Depreciation and write-downs630 | €5,065 | €4,576 | €3,762 | €5,783 | €6,570 | €6,417 | €6,465 | €7,688 | ▲ 18.9% |
| Operating cash flow (approximation) | €2,456 | €23,046 | €18,868 | €16,656 | €6,713 | €8,707 | -€9,905 | €11,800 | - |
| Investment in fixed assets (approximation) | - | -€13,119 | -€9,901 | -€5,779 | -€6,704 | -€2,287 | -€6,549 | -€6,713 | ▼ 2.5% |
| Change in cash | - | - | €85,536 | -€97,938 | €0 | €0 | €0 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 10,904 companies had the same profile as LEADERCOM has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
The bankruptcy probability of LEADERCOM itself is higher: 1.8% within 12 months. It rests on far more data about LEADERCOM than the profile alone.
Test of the method
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 10,904 companies, not a prediction for LEADERCOM. 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.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-09-2026 | 2026-00513290 | |
| 31-12-2024 | micro format | 07-10-2025 | 2025-00534276 | |
| 31-12-2023 | micro format | 18-10-2024 | 2024-00509897 | |
| 31-12-2022 | micro format | 30-10-2023 | 2023-00497543 | |
| 31-12-2021 | micro format | 13-10-2022 | 2022-20459131 | |
| 31-12-2020 | micro format | 22-10-2021 | 2021-72800116 | |
| 31-12-2019 | micro format | 28-09-2020 | 2020-56100004 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56900198 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61900095 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56800471 |