LEDSPECIALIST
ActiveLEDSPECIALIST has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91k and a net result of €19k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 60% of 11195 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
93
/ 100
Excellent▼ -1 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+84
Solvency82▼-17
Growth52=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.96 in 2024), and 45.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
54.5%
Return on assets
11.5%
Age of the figures
8 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 13-07-2026, 18 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
18 d early
2024
49 d early
2023
54 d early
2022
53 d early
2021
62 d early
2020
61 d early
2019
81 d early
← before the deadline
after the deadline →
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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€91k▼ 22.7%
2024 · €118k
2018: €67k
2019: €84k
2020: €110k
2021: €112k
2022: €111k
2023: €114k
2024: €118k
2018 → 2025
Total assets
€167k▲ 6.0%
2024 · €157k
2018: €196k
2019: €211k
2020: €179k
2021: €169k
2022: €139k
2023: €162k
2024: €157k
2018 → 2025
Net result
€19k▲ 397%
2024 · €4k
2018: €38k
2019: €18k
2020: €26k
2021: €2k
2022: €-1k
2023: €3k
2024: €4k
2018 → 2025
Working capital
€24k▼ 17.7%
2024 · €30k
2018: €58k
2019: €32k
2020: €88k
2021: €59k
2022: €107k
2023: €78k
2024: €30k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€112k-€111k▼ 1.0%€114k▲ 2.7%€118k▲ 3.4%€91k▼ 22.7%
Operating result€-2k-€-2k▲ 3.6%€3k€6k▲ 91.1%€29k▲ 373%
Net result€2k-€-1k€3k€4k▲ 30.3%€19k▲ 397%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 373% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167k
Fixed assets
€72k▼ 26.1%
Current assets
€95k▲ 57.5%
Equity and liabilities €167k
Equity
€91k▼ 22.7%
Debt
€76k▲ 90.7%
The debt ratio rises from 25.3% to 45.5%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€43k▲
2024 · €15k
Cash flow
€33k▲
2024 · €13k
Solvency
54.5%▼
2024 · 74.7%
Current ratio
1.34▼
2024 · 1.96
Quick ratio
1.12▼
2024 · 1.40
Debt / equity
0.84▲
2024 · 0.34
ROE
21.0%▲
2024 · 3.3%
ROA
11.5%▲
2024 · 2.4%
Interest coverage
60.38▲
2024 · 13.86
Debt
€76k▲
2024 · €40k
Debt ≤ 1 year
€71k▲
2024 · €31k
Debt > 1 year
€2k▼
2024 · €9k
Income taxes
€10k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€157k€167k▲
Fixed assets21/28€97k€72k▼
Tangible fixed assets22/27€97k€72k▼
Plant, machinery and equipment23€1k€3k▲
Furniture and vehicles24€96k€69k▼
Current assets29/58€60k€95k▲
Stocks and contracts in progress3€17k€16k▼
Stocks30/36€17k€16k▼
Amounts receivable within one year40/41€43k€66k▲
Trade receivables40€33k€54k▲
Other amounts receivable41€10k€13k▲
Cash at bank and in hand54/58€464€13k▲
Deferred charges and accrued income490/1€296€427▲
Equity and liabilities
Total equity and liabilities10/49€157k€167k▲
Equity10/15€118k€91k▼
Contributions10/11€19k€19k=
Reserves13€99k€72k▼
Distributable reserves133€99k€72k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€40k€76k▲
Amounts payable after more than one year17€9k€2k▼
Financial debts170/4€9k€2k▼
Amounts payable within one year42/48€31k€71k▲
Current portion of amounts payable after more than one year42€9k€7k▼
Trade debts44€12k€6k▼
Suppliers440/4€12k€6k▼
Taxes, remuneration and social security45€3k€15k▲
Taxes450/3€3k€15k▲
Other amounts payable47/48€8k€43k▲
Accrued charges and deferred income492/3€123€3k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€14k▲
Other operating charges640/8€56k€1k▼
Gross operating margin9900€71k€45k▼
Operating profit (loss)9901€6k€29k▲
Financial income75/76B€1k€31▼
Recurring financial income75€1k€31▼
Financial charges65/66B€1k€717▼
Recurring financial charges65€1k€717▼
Profit (loss) for the period before taxes9903€6k€29k▲
Income taxes67/77€2k€10k▲
Profit (loss) for the period9904€4k€19k▲
Profit (loss) for the period to be appropriated9905€4k€19k▲
Appropriation of the result
Profit (loss) to be appropriated9906€4k€19k▲
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2-€46k
Transfer to equity691/2€4k€19k▲
To other reserves6921€4k€19k▲
Profit to be distributed694/7-€46k
Return on contributions (dividend)694-€46k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
State Gazette act
Registered officeBoard meeting · Registered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Board meeting · Registered-office move · Power of attorney3 facts ▸
- Board meeting, 20/08/2026
- Registered-office move, Vossedreef 25, 9340 Lede
- Power of attorney, BV SAM BRONDEEL
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-1k ▼154%
Net result drops to €-1k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 8.02
Current ratio from 2.79 to 8.02; short-term debt falls from €33k to €15k.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100kEq €110k ▲30.4%
3 profitable years in a row build equity to €110k.
11-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lede · 1 establishment unit since 2016
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vossedreef 259340 LedeGround area
801 m²
Building footprint
232 m²
Volume, LiDAR
1,339 m³
2 parcels, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ledspecialist
since 20162.259.067.840
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41034B0498/00Y000 | Flanders | 576 m² | 1 · 115 m² | 10.3 m · 2 fl. |
| 41034F0592/00D000 | Flanders | 225 m² | 1 · 117 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
LP LIGHTING
BE 0842.127.472
Manage · Eq €91k
BELUCE
BE 0543.565.234
Knokke-Heist · Eq €90k
ENERGY REMODELING
BE 0661.949.675
Olen · Eq €87k
SOLYSOMBRA
BE 0479.550.182
Gent · Eq €86k
Lamp en Licht Hasselt
BE 0798.920.902
Hasselt · Eq €86k
Of 266 companies in sector 46474 we hold annual accounts for 180. 129 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-11-2016
Fiscal year end31-12
Activities, NACEBEL
46474Wholesale trade
47552Retail sale of lighting equipment
47592Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.