LED-AD
ActiveSummary
LED-AD has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16k and a net result of €42k. Equity is shrinking by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 26% of 1526 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+31
Solvency29▲+9
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.22 against 0.88 in 2024; short-term debt: 54.1% and cash: 8.4% of total assets), and 96.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
3.6%
Return on assets
9.5%
Age of the figures
9 mo
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 · 10 filingsDeviation from the deadline
2025
3 d early
2024
3 d early
2023
155 d late
2022
22 d late
2021
29 d late
2020
118 d late
2019
32 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
€16k
2024 · €-26k
2018: €30k
2019: €26k▼ -12.4% vs 2018
2020: €26k▼ -2.4% vs 2019
2021: €31k▲ +21.6% vs 2020
2022: €56k▲ +80.2% vs 2021highest in 8 years
2023: €-28k▼ -149% vs 2022lowest in 8 years
2024: €-26k▲ +6.1% vs 2023
2025: €16k▲ +161% vs 2024
2018 → 2025
Total assets
€442k▼ 17.0%
2024 · €533k
2018: €379k
2019: €270k▼ -28.9% vs 2018lowest in 8 years
2020: €499k▲ +84.9% vs 2019
2021: €421k▼ -15.7% vs 2020
2022: €593k▲ +41.0% vs 2021highest in 8 years
2023: €530k▼ -10.6% vs 2022
2024: €533k▲ +0.5% vs 2023
2025: €442k▼ -17.0% vs 2024
2018 → 2025
Net result
€42k▲ 2,371%
2024 · €2k
2018: €-791
2019: €-4k▼ -369% vs 2018
2020: €-627▲ +83.1% vs 2019
2021: €6k▲ +983% vs 2020
2022: €25k▲ +351% vs 2021
2023: €-84k▼ -436% vs 2022lowest in 8 years
2024: €2k▲ +102% vs 2023
2025: €42k▲ +2371% vs 2024highest in 8 years
2018 → 2025
Working capital
€53k
2024 · €-44k
2018: €56khighest in 8 years
2019: €8k▼ -84.9% vs 2018
2020: €-183k▼ -2285% vs 2019lowest in 8 years
2021: €3k▲ +102% vs 2020
2022: €3k▼ -0.8% vs 2021
2023: €-73k▼ -2229% vs 2022
2024: €-44k▲ +39.1% vs 2023
2025: €53k▲ +220% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€31k-€56k▲ 80.2%€-28k€-26k▲ 6.1%€16k
2021: €31k
2022: €56k▲ +80.2% vs 2021highest in 5 years
2023: €-28k▼ -149% vs 2022lowest in 5 years
2024: €-26k▲ +6.1% vs 2023
2025: €16k▲ +161% vs 2024
Operating result€19k-€51k▲ 160%€-67k€17k€50k▲ 197%
2021: €19k
2022: €51k▲ +160% vs 2021highest in 5 years
2023: €-67k▼ -232% vs 2022lowest in 5 years
2024: €17k▲ +125% vs 2023
2025: €50k▲ +197% vs 2024
Net result€6k-€25k▲ 351%€-84k€2k€42k▲ 2,371%
2021: €6k
2022: €25k▲ +351% vs 2021
2023: €-84k▼ -436% vs 2022lowest in 5 years
2024: €2k▲ +102% vs 2023
2025: €42k▲ +2371% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 197% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €442k
Fixed assets
€150k ▼ 22.8%
Current assets
€292k ▼ 13.7%
Equity and liabilities €442k
Equity
€16k
Debt
€426k
Debt finances 96.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€65k▲
2024 · €56k
Cash flow
€57k▲
2024 · €41k
Current ratio
1.22▲
2024 · 0.88
Quick ratio
1.10▲
2024 · 0.81
Debt to equity
26.66▲
2024 · -21.48
ROE
262.8%
ROA
9.5%▲
2024 · 0.3%
Interest coverage
8.43▲
2024 · 3.76
Debt ≤ 1 year
€239k▼
2024 · €383k
Debt > 1 year
€187k▲
2024 · €176k
Income taxes
€176▲
2024 · €140
Staff costs
€-2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€533k€442k▼
Fixed assets21/28€194k€150k▼
Intangible fixed assets21€820€0▼
Tangible fixed assets22/27€192k€149k▼
Land and buildings22€176k€148k▼
Plant, machinery and equipment23€10k€430▼
Furniture and vehicles24€5k€0▼
Financial fixed assets28€1k€1k=
Current assets29/58€339k€292k▼
Stocks and contracts in progress3€28k€28k=
Stocks30/36€28k€28k=
Amounts receivable within one year40/41€283k€227k▼
Trade receivables40€132k€216k▲
Other amounts receivable41€152k€11k▼
Cash at bank and in hand54/58€26k€37k▲
Deferred charges and accrued income490/1€839€62▼
Equity and liabilities
Total equity and liabilities10/49€533k€442k▼
Equity10/15€-26k€16k▲
Contributions10/11€42k€42k=
Reserves13€200€200=
Non-distributable reserves130/1€200€200=
Reserves not available under the articles1311€200€200=
Profit (loss) carried forward14€-68k€-26k▲
Amounts payable17/49€559k€426k▼
Amounts payable after more than one year17€176k€187k▲
Financial debts170/4€176k€187k▲
Amounts payable within one year42/48€383k€239k▼
Current portion of amounts payable after more than one year42€37k€11k▼
Financial debts43€25k€33k▲
Credit institutions430/8€25k€33k▲
Other loans439€0-
Trade debts44€9k€308▼
Suppliers440/4€9k€308▼
Advances received on contracts in progress46€140k€0▼
Taxes, remuneration and social security45€2k€5k▲
Taxes450/3€2k€5k▲
Other amounts payable47/48€170k€190k▲
Income statement
Code20242025
Non-recurring operating income76A€1k€31k▲
Remuneration, social security and pensions62-€-2k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€39k€15k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€7k€1k▼
Non-recurring operating charges66A€12k€0▼
Gross operating margin9900€75k€64k▼
Operating profit (loss)9901€17k€50k▲
Financial income75/76B€3€0▼
Recurring financial income75€3€0▼
Financial charges65/66B€15k€8k▼
Recurring financial charges65€15k€8k▼
Profit (loss) for the period before taxes9903€2k€42k▲
Income taxes67/77€140€176▲
Profit (loss) for the period9904€2k€42k▲
Profit (loss) for the period to be appropriated9905€2k€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-68k€-26k▲
Profit (loss) brought forward from the previous period14P€-70k€-68k▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2k | €1k | €31k | ▲ 2,825% |
| Remuneration, social security and pensions62 | €6k | €1k | €0 | - | €-2k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €81k | €48k | €46k | €39k | €15k | ▼ 61.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | €-5k | €0 | - | - |
| Other operating charges640/8 | €8k | €12k | €17k | €7k | €1k | ▼ 83.7% |
| Non-recurring operating charges66A | - | - | - | €12k | €0 | ▼ 100% |
| Gross operating margin9900 | €115k | €111k | €-9k | €75k | €64k | ▼ 14.5% |
| Operating profit (loss)9901 | €19k | €51k | €-67k | €17k | €50k | ▲ 197% |
| Financial income75/76B | €1 | €99 | €15 | €3 | €0 | ▼ 100% |
| Recurring financial income75 | €1 | €99 | €15 | €3 | €0 | ▼ 100% |
| Financial charges65/66B | €14k | €10k | €17k | €15k | €8k | ▼ 48.3% |
| Recurring financial charges65 | €14k | €10k | €17k | €15k | €8k | ▼ 48.3% |
| Profit (loss) for the period before taxes9903 | €6k | €41k | €-84k | €2k | €42k | ▲ 2,193% |
| Income taxes67/77 | €280 | €16k | €263 | €140 | €176 | ▲ 26.2% |
| Profit (loss) for the period9904 | €6k | €25k | €-84k | €2k | €42k | ▲ 2,371% |
| Profit (loss) for the period to be appropriated9905 | €6k | €25k | €-84k | €2k | €42k | ▲ 2,371% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €421k | €593k | €530k | €533k | €442k | ▼ 17.0% |
| Fixed assets21/28 | €293k | €278k | €235k | €194k | €150k | ▼ 22.8% |
| Intangible fixed assets21 | - | €2k | €1k | €820 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €293k | €276k | €232k | €192k | €149k | ▼ 22.6% |
| Land and buildings22 | €198k | €207k | €192k | €176k | €148k | ▼ 16.1% |
| Plant, machinery and equipment23 | €62k | €47k | €26k | €10k | €430 | ▼ 95.9% |
| Furniture and vehicles24 | €33k | €23k | €15k | €5k | €0 | ▼ 100% |
| Leasing and similar rights25 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €120 | €120 | €1k | €1k | €1k | = |
| Current assets29/58 | €128k | €315k | €296k | €339k | €292k | ▼ 13.7% |
| Stocks and contracts in progress3 | - | €52k | €47k | €28k | €28k | = |
| Stocks30/36 | - | €52k | €47k | €28k | €28k | = |
| Amounts receivable within one year40/41 | €109k | €221k | €216k | €283k | €227k | ▼ 19.9% |
| Trade receivables40 | €108k | €215k | €198k | €132k | €216k | ▲ 64.1% |
| Other amounts receivable41 | €578 | €6k | €19k | €152k | €11k | ▼ 92.8% |
| Cash at bank and in hand54/58 | €18k | €40k | €30k | €26k | €37k | ▲ 39.7% |
| Deferred charges and accrued income490/1 | €1k | €2k | €2k | €839 | €62 | ▼ 92.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €421k | €593k | €530k | €533k | €442k | ▼ 17.0% |
| Equity10/15 | €31k | €56k | €-28k | €-26k | €16k | ▲ 161% |
| Contributions10/11 | €42k | €42k | €42k | €42k | €42k | = |
| Reserves13 | €200 | €200 | €200 | €200 | €200 | = |
| Non-distributable reserves130/1 | €200 | €200 | €200 | €200 | €200 | = |
| Reserves not available under the articles1311 | €200 | €200 | €200 | €200 | €200 | = |
| Profit (loss) carried forward14 | €-11k | €14k | €-70k | €-68k | €-26k | ▲ 61.6% |
| Amounts payable17/49 | €389k | €537k | €558k | €559k | €426k | ▼ 23.8% |
| Amounts payable after more than one year17 | €265k | €226k | €190k | €176k | €187k | ▲ 6.3% |
| Financial debts170/4 | €265k | €226k | €190k | €176k | €187k | ▲ 6.3% |
| Amounts payable within one year42/48 | €125k | €312k | €368k | €383k | €239k | ▼ 37.6% |
| Current portion of amounts payable after more than one year42 | €64k | €66k | €86k | €37k | €11k | ▼ 71.5% |
| Financial debts43 | €27k | €138k | €86k | €25k | €33k | ▲ 32.5% |
| Credit institutions430/8 | €27k | €27k | €86k | €25k | €33k | ▲ 32.5% |
| Other loans439 | - | €112k | €0 | €0 | - | - |
| Trade debts44 | €13k | €56k | €46k | €9k | €308 | ▼ 96.6% |
| Suppliers440/4 | €13k | €56k | €46k | €9k | €308 | ▼ 96.6% |
| Advances received on contracts in progress46 | - | - | - | €140k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €8k | €25k | €15k | €2k | €5k | ▲ 190% |
| Taxes450/3 | €8k | €25k | €15k | €2k | €5k | ▲ 190% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €12k | €25k | €135k | €170k | €190k | ▲ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €25k | €-84k | €2k | €42k | ▲ 2,371% |
| + Depreciation and write-downs630 | €81k | €48k | €46k | €39k | €15k | ▼ 61.4% |
| Operating cash flow (approximation) | €87k | €73k | €-37k | €41k | €57k | ▲ 39.3% |
| Investment in fixed assets (approximation) | - | €-33k | €-3k | €1k | €29k | ▲ 2,408% |
| Change in cash | - | €22k | €-10k | €-4k | €11k | ▲ 378% |
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
Highest result since 2018net €42k ▲2,371%
Net result €42k, the highest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
02-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 155 days late
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
2023
31-12
Financial
Weakest financial yearnet €-84k
Net result drops to €-84k, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
31-12
Financial
Back to profitnet €6k
Net result €6k after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 1.03
Current ratio from 0.45 to 1.03; short-term debt falls from €333k to €125k.
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 118 days late
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Nazareth-De Pinte · 1 establishment unit since 2007
Ground area
977 m²
Building footprint
139 m²
Volume, LiDAR
954 m³
Parcel 44018A0408/00P000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
LED-AD
since 20072.159.133.391
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44018A0408/00P000 | Flanders | 977 m² | 1 · 139 m² | 9.0 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 345 EUR awarded · 345 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 345 EUR | 345 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,187 companies in sector 77399 we hold annual accounts for 710. 259 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 (pre-2019)
Founded17-01-2007
Fiscal year end31-12
Activities, NACEBEL 2025
77399Renting and leasing of other machinery, equipment and tangible goods
43410Roofing work
47400Retail sale of information and communication equipment
59120Post-production of films, video and television programmes
Scores and ratios are computed by Checked and are not a credit decision.