LEONARTH
ActiveSummary
LEONARTH has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €221k and a net result of €41k. Equity is growing by ~38.3% per year across the filed fiscal years. Its solvency ranks better than 41% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+10
Solvency43=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.05 in 2024; short-term debt: 79.5% and cash: 1.4% of total assets), and 81.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
18.5%
Return on assets
3.4%
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
14 d early
2023
48 d early
2022
32 d early
2021
52 d early
2020
51 d early
2019
50 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
€221k▲ 22.6%
2024 · €180k
2018: €25k
2019: €23k▼ -8.4% vs 2018
2020: €21k▼ -8.1% vs 2019lowest in 8 years
2021: €57k▲ +175% vs 2020
2022: €115k▲ +101% vs 2021
2023: €157k▲ +37.2% vs 2022
2024: €180k▲ +14.5% vs 2023
2025: €221k▲ +22.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.19M▲ 21.8%
2024 · €980k
2018: €136k
2019: €42k▼ -69.2% vs 2018
2020: €21k▼ -50.4% vs 2019lowest in 8 years
2021: €224k▲ +980% vs 2020
2022: €509k▲ +127% vs 2021
2023: €687k▲ +34.9% vs 2022
2024: €980k▲ +42.6% vs 2023
2025: €1.19M▲ +21.8% vs 2024highest in 8 years
2018 → 2025
Net result
€41k▲ 79.0%
2024 · €23k
2018: €-20klowest in 8 years
2019: €-2k▲ +89.6% vs 2018
2020: €-2k▲ +11.9% vs 2019
2021: €36k▲ +2095% vs 2020
2022: €58k▲ +58.9% vs 2021highest in 8 years
2023: €43k▼ -25.9% vs 2022
2024: €23k▼ -46.7% vs 2023
2025: €41k▲ +79.0% vs 2024
2018 → 2025
Working capital
€56k▲ 40.6%
2024 · €40k
2018: €25k
2019: €23k▼ -8.4% vs 2018
2021: €-117klowest value
2022: €39k▲ +133% vs 2021
2023: €94k▲ +141% vs 2022highest value
2024: €40k▼ -57.6% vs 2023
2025: €56k▲ +40.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€57k-€115k▲ 101%€157k▲ 37.2%€180k▲ 14.5%€221k▲ 22.6%
2021: €57klowest in 5 years
2022: €115k▲ +101% vs 2021
2023: €157k▲ +37.2% vs 2022
2024: €180k▲ +14.5% vs 2023
2025: €221k▲ +22.6% vs 2024highest in 5 years
Operating result€41k-€84k▲ 102%€71k▼ 15.0%€49k▼ 31.3%€80k▲ 63.5%
2021: €41klowest in 5 years
2022: €84k▲ +102% vs 2021highest in 5 years
2023: €71k▼ -15.0% vs 2022
2024: €49k▼ -31.3% vs 2023
2025: €80k▲ +63.5% vs 2024
Net result€36k-€58k▲ 58.9%€43k▼ 25.9%€23k▼ 46.7%€41k▲ 79.0%
2021: €36k
2022: €58k▲ +58.9% vs 2021highest in 5 years
2023: €43k▼ -25.9% vs 2022
2024: €23k▼ -46.7% vs 2023lowest in 5 years
2025: €41k▲ +79.0% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 64% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.19M
Fixed assets
€188k ▲ 4.6%
Current assets
€1.01M ▲ 25.7%
Equity and liabilities €1.19M
Equity
€221k ▲ 22.6%
Debt
€973k ▲ 21.7%
Debt's share of the balance-sheet total falls from 81.6% to 81.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€121k▲
2024 · €72k
Cash flow
€81k▲
2024 · €46k
Current ratio
1.06▲
2024 · 1.05
Quick ratio
0.07▼
2024 · 0.10
Debt to equity
4.41▼
2024 · 4.44
ROE
18.4%▲
2024 · 12.6%
ROA
3.4%▲
2024 · 2.3%
Interest coverage
4.92▲
2024 · 3.90
Debt ≤ 1 year
€949k▲
2024 · €760k
Debt > 1 year
€24k▼
2024 · €40k
Income taxes
€15k▲
2024 · €8k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€980k€1.19M▲
Fixed assets21/28€180k€188k▲
Tangible fixed assets22/27€180k€188k▲
Land and buildings22€35k€30k▼
Plant, machinery and equipment23€18k€47k▲
Leasing and similar rights25€56k€40k▼
Other tangible fixed assets26€72k€72k▲
Current assets29/58€800k€1.01M▲
Stocks and contracts in progress3€727k€941k▲
Stocks30/36€727k€941k▲
Amounts receivable within one year40/41€53k€43k▼
Trade receivables40€38k€34k▼
Other amounts receivable41€15k€9k▼
Cash at bank and in hand54/58€19k€17k▼
Deferred charges and accrued income490/1€1k€4k▲
Equity and liabilities
Total equity and liabilities10/49€980k€1.19M▲
Equity10/15€180k€221k▲
Contributions10/11€12k€12k=
Reserves13€168k€208k▲
Distributable reserves133€168k€208k▲
Amounts payable17/49€800k€973k▲
Amounts payable after more than one year17€40k€24k▼
Financial debts170/4€40k€24k▼
Amounts payable within one year42/48€760k€949k▲
Current portion of amounts payable after more than one year42€16k€16k▲
Financial debts43€7k-
Credit institutions430/8€7k-
Trade debts44€63k€76k▲
Suppliers440/4€63k€76k▲
Taxes, remuneration and social security45€8k€3k▼
Taxes450/3€6k€3k▼
Remuneration and social security454/9€1k-
Other amounts payable47/48€667k€854k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€41k▲
Other operating charges640/8€262€582▲
Non-recurring operating charges66A€11k-
Gross operating margin9900€83k€121k▲
Operating profit (loss)9901€49k€80k▲
Financial income75/76B€278-
Recurring financial income75€278-
Financial charges65/66B€19k€24k▲
Recurring financial charges65€19k€24k▲
Profit (loss) for the period before taxes9903€31k€55k▲
Income taxes67/77€8k€15k▲
Profit (loss) for the period9904€23k€41k▲
Profit (loss) for the period to be appropriated9905€23k€41k▲
Appropriation of the result
Profit (loss) to be appropriated9906€23k€41k▲
Transfer to equity691/2€23k€41k▲
To the legal reserve6920-€41k
To other reserves6921€23k-
The notes to these accounts (7 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €13k | €15k | €23k | €41k | ▲ 73.9% |
| Other operating charges640/8 | €120 | €432 | €214 | €262 | €582 | ▲ 122% |
| Non-recurring operating charges66A | - | €5k | - | €11k | - | - |
| Gross operating margin9900 | €45k | €103k | €87k | €83k | €121k | ▲ 45.9% |
| Operating profit (loss)9901 | €41k | €84k | €71k | €49k | €80k | ▲ 63.5% |
| Financial income75/76B | - | - | €33 | €278 | - | - |
| Recurring financial income75 | - | - | €33 | €278 | - | - |
| Financial charges65/66B | €85 | €5k | €12k | €19k | €24k | ▲ 32.2% |
| Recurring financial charges65 | €85 | €5k | €12k | €19k | €24k | ▲ 32.2% |
| Profit (loss) for the period before taxes9903 | €41k | €79k | €59k | €31k | €55k | ▲ 81.0% |
| Income taxes67/77 | €5k | €21k | €17k | €8k | €15k | ▲ 86.9% |
| Profit (loss) for the period9904 | €36k | €58k | €43k | €23k | €41k | ▲ 79.0% |
| Profit (loss) for the period to be appropriated9905 | €36k | €58k | €43k | €23k | €41k | ▲ 79.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €224k | €509k | €687k | €980k | €1.19M | ▲ 21.8% |
| Fixed assets21/28 | €174k | €75k | €63k | €180k | €188k | ▲ 4.6% |
| Tangible fixed assets22/27 | €174k | €75k | €63k | €180k | €188k | ▲ 4.6% |
| Land and buildings22 | €25k | €44k | €39k | €35k | €30k | ▼ 14.0% |
| Plant, machinery and equipment23 | €18k | €20k | €18k | €18k | €47k | ▲ 158% |
| Furniture and vehicles24 | €131k | €11k | €6k | - | - | - |
| Leasing and similar rights25 | - | - | - | €56k | €40k | ▼ 28.8% |
| Other tangible fixed assets26 | - | - | - | €72k | €72k | ▲ 0.8% |
| Current assets29/58 | €50k | €434k | €624k | €800k | €1.01M | ▲ 25.7% |
| Stocks and contracts in progress3 | €17k | €391k | €555k | €727k | €941k | ▲ 29.5% |
| Stocks30/36 | €17k | €391k | €555k | €727k | €941k | ▲ 29.5% |
| Amounts receivable within one year40/41 | €24k | €21k | €51k | €53k | €43k | ▼ 19.3% |
| Trade receivables40 | €6k | €10k | €32k | €38k | €34k | ▼ 11.0% |
| Other amounts receivable41 | €18k | €11k | €19k | €15k | €9k | ▼ 40.3% |
| Cash at bank and in hand54/58 | €9k | €19k | €16k | €19k | €17k | ▼ 8.5% |
| Deferred charges and accrued income490/1 | - | €3k | €2k | €1k | €4k | ▲ 323% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €224k | €509k | €687k | €980k | €1.19M | ▲ 21.8% |
| Equity10/15 | €57k | €115k | €157k | €180k | €221k | ▲ 22.6% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €45k | €102k | €145k | €168k | €208k | ▲ 24.3% |
| Distributable reserves133 | €45k | €102k | €145k | €168k | €208k | ▲ 24.3% |
| Amounts payable17/49 | €167k | €395k | €530k | €800k | €973k | ▲ 21.7% |
| Amounts payable after more than one year17 | - | - | - | €40k | €24k | ▼ 40.5% |
| Financial debts170/4 | - | - | - | €40k | €24k | ▼ 40.5% |
| Amounts payable within one year42/48 | €167k | €395k | €530k | €760k | €949k | ▲ 24.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16k | €16k | ▲ 3.8% |
| Financial debts43 | - | €25k | €8k | €7k | - | - |
| Credit institutions430/8 | - | €25k | €8k | €7k | - | - |
| Trade debts44 | €61k | €76k | €15k | €63k | €76k | ▲ 20.6% |
| Suppliers440/4 | €61k | €76k | €15k | €63k | €76k | ▲ 20.6% |
| Taxes, remuneration and social security45 | - | €4k | €2k | €8k | €3k | ▼ 63.1% |
| Taxes450/3 | - | - | - | €6k | €3k | ▼ 55.1% |
| Remuneration and social security454/9 | - | €4k | €2k | €1k | - | - |
| Other amounts payable47/48 | €106k | €290k | €504k | €667k | €854k | ▲ 28.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36k | €58k | €43k | €23k | €41k | ▲ 79.0% |
| + Depreciation and write-downs630 | €4k | €13k | €15k | €23k | €41k | ▲ 73.9% |
| Operating cash flow (approximation) | €40k | €71k | €58k | €46k | €81k | ▲ 76.4% |
| Investment in fixed assets (approximation) | - | €85k | €-3k | €-141k | €-49k | ▲ 65.2% |
| Change in cash | - | €10k | €-3k | €3k | €-2k | ▼ 156% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €200kEq €221k ▲22.6%
5 profitable years in a row build equity to €221k.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €157k ▲37.2%
3 profitable years in a row build equity to €157k.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €58k ▲58.9%
Operating result €84k, net result €58k, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 1.10
Current ratio from 0.30 to 1.10.
31-12
Financial
Equity above €100kEq €115k ▲101%
2 profitable years in a row build equity to €115k.
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €36k
Net result €36k after 3 loss-making years.
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Zwalm · 1 establishment unit since 2016
Ground area
1,457 m²
Building footprint
276 m²
Volume, LiDAR
1,664 m³
Parcel 45030A0226/00K000, Flanders · tallest building 11.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LEONARTH
since 20162.252.060.381
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45030A0226/00K000 | Flanders | 1,457 m² | 1 · 276 m² | 11.5 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.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 5,306 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
Founded19-01-2016
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
71111Activities of building architects
Scores and ratios are computed by Checked and are not a credit decision.