LEONARDO BELGIUM
ActiveLEONARDO BELGIUM has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30.83M and a net result of €4.65M. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 51% of 112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability69▲+2
Solvency60▼-1
Growth81▼-1
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.9M at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.72 in 2024; short-term debt: 58.9% and cash: 4.5% of total assets), but 65% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 30
Relative position
BE, all sectors
reference
Sector 30
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
35%
Return on assets
5.3%
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
76 d early
2023
63 d early
2022
35 d early
2021
31 d early
2020
39 d early
2019
32 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€73.77M▲ 12.3%
2024 · €65.71M
2018: €24.89M
2019: €29.31M
2020: €27.24M
2021: €30.16M
2022: €35.95M
2023: €49.96M
2024: €65.71M
2018 → 2025
EBIT margin
8.6%▲ 1.4pp
2024 · 7.3%
2018: 0.4%
2019: 5.9%
2020: 5.3%
2021: 5.5%
2022: 3.4%
2023: 5.8%
2024: 7.3%
2018 → 2025
Net result
€4.65M▲ 33.0%
2024 · €3.50M
2018: €-264k
2019: €1.29M
2020: €1.05M
2021: €1.12M
2022: €859k
2023: €2.11M
2024: €3.50M
2018 → 2025
Working capital
€33.27M▲ 12.1%
2024 · €29.67M
2018: €19.72M
2019: €19.11M
2020: €19.71M
2021: €24.53M
2022: €24.80M
2023: €25.67M
2024: €29.67M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€30.16M-€35.95M▲ 19.2%€49.96M▲ 39.0%€65.71M▲ 31.5%€73.77M▲ 12.3%
Equity€20.59M-€21.25M▲ 3.2%€23.16M▲ 9.0%€26.46M▲ 14.3%€30.83M▲ 16.5%
Operating result€1.67M-€1.21M▼ 27.5%€2.90M▲ 139%€4.78M▲ 64.7%€6.37M▲ 33.1%
Net result€1.12M-€859k▼ 23.6%€2.11M▲ 145%€3.50M▲ 66.2%€4.65M▲ 33.0%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 33% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €88.06M
Fixed assets
€2.95M▲ 17.5%
Current assets
€85.11M▲ 19.9%
Equity and liabilities €88.06M
Equity
€30.83M▲ 16.5%
Provisions
€0▼ 100%
Debt
€57.23M▲ 21.8%
The debt ratio rises from 64.0% to 65.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6.81M▲
2024 · €5.12M
Cash flow
€5.10M▲
2024 · €3.84M
Solvency
35.0%▼
2024 · 36.0%
Current ratio
1.64▼
2024 · 1.72
Quick ratio
1.01▲
2024 · 0.91
Debt / equity
1.86▲
2024 · 1.78
ROE
15.1%▲
2024 · 13.2%
ROA
5.3%▲
2024 · 4.8%
Interest coverage
278.99▼
2024 · 301.48
Debt
€57.23M▲
2024 · €47.00M
Debt ≤ 1 year
€51.84M▲
2024 · €41.30M
Income taxes
€1.71M▲
2024 · €1.29M
Staff costs
€7.11M▲
2024 · €5.82M
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€73.48M€88.06M▲
Fixed assets21/28€2.51M€2.95M▲
Intangible fixed assets21€68k€381k▲
Tangible fixed assets22/27€2.30M€2.40M▲
Plant, machinery and equipment23€2.04M€2.17M▲
Furniture and vehicles24€34k€86k▲
Assets under construction and advance payments27€229k€138k▼
Financial fixed assets28€144k€174k▲
Other financial fixed assets284/8€144k€174k▲
Amounts receivable and cash guarantees285/8€144k€174k▲
Current assets29/58€70.97M€85.11M▲
Stocks and contracts in progress3€33.35M€32.72M▼
Stocks30/36€20.41M€20.30M▼
Raw materials and consumables30/31€3.77M€3.99M▲
Goods purchased for resale34€16.64M€16.31M▼
Contracts in progress37€12.95M€12.43M▼
Amounts receivable within one year40/41€34.55M€47.56M▲
Trade receivables40€27.15M€35.85M▲
Other amounts receivable41€7.40M€11.71M▲
Current investments50/53€559k€860k▲
Other investments51/53€559k€860k▲
Cash at bank and in hand54/58€2.45M€3.93M▲
Deferred charges and accrued income490/1€61k€44k▼
Equity and liabilities
Total equity and liabilities10/49€73.48M€88.06M▲
Equity10/15€26.46M€30.83M▲
Contributions10/11€500k€500k=
Capital10€500k€500k=
Issued capital100€500k€500k=
Reserves13€821k€821k=
Non-distributable reserves130/1€78k€78k=
Legal reserve130€50k€50k=
Other1319€28k€28k=
Distributable reserves133€744k€744k=
Profit (loss) carried forward14€25.14M€29.49M▲
Investment grants15-€22k
Provisions and deferred taxes16€23k-
Provisions for liabilities and charges160/5€23k-
Other liabilities and charges164/5€23k-
Amounts payable17/49€47.00M€57.23M▲
Amounts payable within one year42/48€41.30M€51.84M▲
Trade debts44€37.80M€50.21M▲
Suppliers440/4€37.80M€50.21M▲
Advances received on contracts in progress46€1.94M-
Taxes, remuneration and social security45€1.36M€1.33M▼
Taxes450/3€526k€612k▲
Remuneration and social security454/9€833k€714k▼
Other amounts payable47/48€202k€302k▲
Accrued charges and deferred income492/3€5.70M€5.39M▼
Income statement
Code20242025
Operating income70/76A€69.32M€73.64M▲
Turnover70€65.71M€73.77M▲
Change in stocks of work in progress, finished goods and contracts in progress71€3.17M€-520k▼
Own construction capitalised72€345k€263k▼
Other operating income74€94k€128k▲
Operating charges60/66A€64.53M€67.27M▲
Goods for resale, raw materials and consumables60€44.07M€43.00M▼
Purchases600/8€47.78M€43.02M▼
Change in stocks: decrease (increase)609€-3.71M€-17k▲
Services and other goods61€13.93M€16.12M▲
Remuneration, social security and pensions62€5.82M€7.11M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€336k€441k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€113k€128k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-23k
Other operating charges640/8€260k€496k▲
Operating profit (loss)9901€4.78M€6.37M▲
Financial income75/76B€314k€325k▲
Recurring financial income75€314k€325k▲
Income from current assets751€27k€18k▼
Other financial income752/9€286k€307k▲
Financial charges65/66B€306k€331k▲
Recurring financial charges65€306k€331k▲
Debt charges650€17k€24k▲
Other financial charges652/9€289k€307k▲
Profit (loss) for the period before taxes9903€4.79M€6.36M▲
Income taxes67/77€1.29M€1.71M▲
Taxes670/3€1.29M€1.71M▲
Tax adjustments and reversals of tax provisions77€2k-
Profit (loss) for the period9904€3.50M€4.65M▲
Profit (loss) for the period to be appropriated9905€3.50M€4.65M▲
Appropriation of the result
Profit (loss) to be appropriated9906€25.34M€29.79M▲
Profit (loss) brought forward from the previous period14P€21.84M€25.14M▲
Profit to be distributed694/7€200k€300k▲
Return on contributions (dividend)694€200k€300k▲
Social balance
Average headcount (FTE)908760.265.3▲
The notes to these accounts (55 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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €4.65M ▲33%
Operating result €6.37M, net result €4.65M, both a record.
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €25MEq €26.46M ▲14.3%
6 profitable years in a row build equity to €26.46M.
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €1.29M
Net result €1.29M after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
49 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, Grâce-Hollogne · 2 establishment units since 1993
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.
Aéroport de Liège ZN4460 Grâce-HollogneGround area
716 m²
Building footprint
716 m²
Volume, LiDAR
19,277 m³
Parcel 21805E0345/00C000, Brussels · tallest building 32.8 m, ±10 floors. Linked by address, not a title deed.
2 establishment units
AGUSTA AEROSPACE SERVICES SA
since 19932.012.797.510
Kunstlaan 44, 1040 Brussel
since 20232.367.649.640
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0345/00C000 | Brussels | 716 m² | 1 · 716 m² | 32.8 m · 10 fl. |
Linked by address, not proof of ownership
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Group per the LEI register
1 parent companyParent company:LEONARDO - SOCIETA' PER AZIONI
Recognitions · licences · registrations
Legal Entity Identifier
549300KB4URGS6IEGH21
Similar companies · same sector, comparable size
ASCO INDUSTRIES
BE 0441.428.489
Zaventem · Eq €32.51M
SABENA AEROSPACE
BE 0879.932.035
Sint-Pieters-Woluwe · Eq €25.25M
Patria Belgium Engine Center
BE 0898.937.602
Herstal · Eq €24.24M
SAFRAN BLADES
BE 0795.523.922
Marchin · Eq €44.28M
Sabena Aerospace Engineering
BE 0465.150.137
Sint-Lambrechts-Woluwe · Eq €19.01M
Of 110 companies in sector 30310 we hold annual accounts for 68. 18 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-09-1976
Fiscal year end31-12
Activities, NACEBEL
30300Manufacture of other transport equipment
30310Manufacture of other transport equipment
35300
46649Wholesale of other machinery and equipment
51872
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.