Equity
€3.1m ▲ 8.3%
Lego Belgium paid out €1.8m in dividends. That is 88% of the 2025 profit.
Lego Belgium
Lifetime
16 annual accounts with figures on one time axis, 49 filings since 1977peak €71.9m (2022)
€64.6m▲ 4.5%
peak €3.2m (2022)
€2.0m▲ 10.7%
peak €4.3m (2016)
€3.1m▲ 8.3%
€19.1m▲ 11.6%
peak 78.4 FTE (2025)
78.4 FTE▲ 6.5%
Board9 names since 2017
4 directorsDean Marshall and 3 others
Owners
consolidatesLEGO A/S
Documentsfilings and deeds
07-07-202624 days before the deadline
2025financial year
Reappointments: Dean Marshall (director) and Trine Ostergaard… 09-05Dividend €1.8m
Key points
from the 2025 annual accountsDebts
€19.1m 86% of the balance sheet
Suppliers 48%Taxes and wages 20%Other 31%
Of this, €15.1m falls due within a year.
Staff
91 employees on 31-12-2025
In 2025, 36 people joined and 39 left. On top of that, 1.6 agency workers worked there on average.
Filings
49 annual accounts since 1977
The 2021 accounts came 10 days late. The other nine of the last ten were filed on time.
Board
1 joined
New director. Latest change 30-06-2026 · 5 in office.
Position in the sector
13.9%
Lower solvency than 83% of companies in wholesale trade. Sector median 45.2% · 6,191 companies.
Checked score
70
Healthy
Financially stronger than 40% of medium-sized companies in wholesale trade (NACE 46)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 745 companies (NACE 46, medium-sized).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 0.5%▼ -0.3 percentage points vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026lowest value
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.6%▲ +0.1 percentage points vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.43, cash €140,543
Equity €3.1m (13.9% of total assets)
lowers risk
Profit of €2.0m (financial year 2025)
Founded in 1968
Calculation
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 46, medium-sized). It does better than 17% of them on solvency, 15% on liquidity, 65% on profitability and 61% on growth.
The bankruptcy probability was computed on 08-11-2026 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 low class on 30-06-2025, 0.8% 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).
Comparable companies, two years later
In July 2024, 378 companies had the same profile as Lego Belgium has now. Each dot is one company, two years later.
97.4%
were still trading
2.4%
stopped another way
0.3%
went bankrupt
That fits the bankruptcy probability of Lego Belgium itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 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 378 companies, not a prediction for Lego Belgium. 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.
Credit verdict
Credit of up to €210,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.43 (1.37 in 2024), below the usual 1.5. Short-term debt is 67.8% and cash 0.6% of total assets. 86.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 6191 sector peers (2025).
NBB · sector comparisonPosition among 6191 sector peers
Solvency
better than 16%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €3.1m
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 days early
2024
16 days early
2023
26 days early
2022
3 days early
2021
10 days late
2020
16 days early
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 11 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
1 statutory auditor appointed, 1 director resigning, 1 reappointment
Resignation: Carsten Høibjerg · Reappointment: Carsten Høibjerg · Appointment: PwC Bedrijfsrevisoren BV (statutory auditor) · General meeting of 30-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0403020350
Reappointments: Dean Marshall (director) and Trine Ostergaard (director)
General meeting of 28-06-2024 · Gazette deed
Permanent representatives: Filip Drieghe and Eva Wonterghem
General meeting of 26-09-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Lego Belgium Brasschaat | €64.6m | 4.2% | 13.9% | 78.4 |
| Simba Toys Benelux Kortrijk | €76.9m | 8.0% | 84.5% | 45.2 |
| ELAUT Sint-Niklaas | €21.4m | 3.5% | 74.2% | 72.7 |
| ASMODEE BELGIUM Kortenberg | €81.6m | 29.4% | 14.1% | 25.3 |
| BEM'S Wavre | €27.7m | 8.4% | 52.6% | 19.2 |
| KOMPAN COMMERCIAL SYSTEMS Liège | €16.2m | 1.1% | 43.6% | 15.6 |
| Axon Public Safety Belgium Molenbeek-Saint-Jean | - | - | 56.7% | 24 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Lego Belgium: wholesale trade (NACE 46497). They are comparable in size and age: total assets between €7.7m and €45m, founded between 1977 and 2013.
Official details
Source: KBO- Status
- ActiveNormal situation
- Activity
- Wholesale tradeNACE 46497
- Joint committees
- 200Auxiliary committee for white-collar workers
- 201Independent retail · annual accounts 2025
- Establishment units
- 2.038.053.7362930 Brasschaat, since 21-09-2001
- 2.234.615.0312110 Wijnegem, since 26-09-2013and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 20-01-2026
Annual accounts 2025
- €22.2m▲ 11.2%
- Employeeson 31-12-2025
- 91=
- Filing
- Filed on 07-07-2026, 24 days before the end of the filing period
Insights on Lego Belgium
Lego Belgium has existed since 1968. Turnover grew from €30.6m in 2010 to €64.6m in 2025 and staff from 20.3 to 78.4 full-time equivalents.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Lego Belgium
- What is the company number of Lego Belgium?
- The company number of Lego Belgium is 0403.020.350. The VAT number is the same number with BE in front: BE 0403.020.350.
- Where is Lego Belgium based?
- The registered office is at Ruiterijschool 5, 2930 Brasschaat.Company details
- What does Lego Belgium do?
- According to the KBO register, the main activity is wholesale trade (NACE 46497).
- What is the legal form of Lego Belgium?
- Lego Belgium is a public limited company (NV).
- When was Lego Belgium founded?
- Lego Belgium was founded on 01-01-1968.
- Is Lego Belgium still active?
- Yes, Lego Belgium is an active enterprise in the KBO register.
- How many employees does Lego Belgium have?
- Lego Belgium had an average of 78.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Lego Belgium fall under?
- In its 2025 annual accounts, Lego Belgium states joint committees 200 (Auxiliary committee for white-collar workers) and 201 (Independent retail).
- What is the turnover of Lego Belgium?
- The turnover of Lego Belgium was €64.6m in financial year 2025, according to the filed annual accounts.
- Is Lego Belgium profitable?
- In financial year 2025, Lego Belgium made a profit of €2.0m.
- Where can I find the annual accounts of Lego Belgium?
- Lego Belgium filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Lego Belgium due?
- Lego Belgium must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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