LETALON
ActiveSummary
LETALON has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.2m and a net result of €43,032. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 45% of 9715 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability47▼-8
Solvency51▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 1.83 against 1.51 in 2023; short-term debt: 11.7% and cash: 0.7% of total assets), but 73.7% of the assets are financed with debt.
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Signals
Five 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 · 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 2024Solvency, return and age of the figures
Solvency
26.3%
Return on assets
1%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
5 d late
2022
69 d late
2021
92 d late
2020
118 d late
2019
119 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€1.2m▼ 19.2%
2023 · €1.4m
Total assets
€4.4m=
2023 · €4.4m
Net result
€43,032▲ 21.8%
2023 · €35,324
Working capital
€429,853▲ 64.3%
2023 · €261,574
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€297,674▲ 164%€230,516▼ 22.6%€198,436▼ 13.9%€132,900▼ 33.0%€170,570▲ 28.3%
Net result€187,170▲ 275%€148,881▼ 20.5%€114,541▼ 23.1%€35,324▼ 69.2%€43,032▲ 21.8%
Equity€1.3m▲ 16.0%€1.4m▲ 10.5%€1.5m▲ 6.9%€1.4m▼ 7.1%€1.2m▼ 19.2%
Total assets€4.4m▲ 8.8%€4.7m▲ 6.0%€4.7m▲ 0.6%€4.4m▼ 6.3%€4.4m=
Debt€2.8m▲ 5.5%€2.9m▲ 3.8%€2.8m▼ 2.6%€2.7m▼ 5.9%€2.9m▲ 10.8%
Working capital-€18,497▲ 91.9%€303,722€454,241▲ 49.6%€261,574▼ 42.4%€429,853▲ 64.3%
Staff (FTE)3.1▲ 14.8%3.1=3.8▲ 22.6%3.4▼ 10.5%3▼ 11.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 28% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.4m
Fixed assets
€3.4m ▼ 4.8%
Current assets
€945,318 ▲ 22.1%
Equity and liabilities €4.4m
Equity
€1.2m ▼ 19.2%
Provisions
€291,827 ▼ 4.3%
Debt
€2.9m ▲ 10.8%
Debt's share of the balance-sheet total rises from 60.5% to 67.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€371,712▲
2023 · €362,432
Cash flow
€244,173▼
2023 · €264,856
Current ratio
1.83▲
2023 · 1.51
Quick ratio
0.40▼
2023 · 0.45
Debt to equity
2.55▲
2023 · 1.86
ROE
3.7%▲
2023 · 2.5%
ROA
1.0%▲
2023 · 0.8%
Interest coverage
3.30▼
2023 · 4.24
Debt ≤ 1 year
€515,465▲
2023 · €512,548
Debt > 1 year
€2.4m▲
2023 · €2.1m
Income taxes
€28,098▼
2023 · €30,475
Staff costs
€147,959▼
2023 · €205,579
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €169,244 | €224,710 | €205,579 | €147,959 | ▼ 28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €284,224 | €254,983 | €251,493 | €229,532 | €201,141 | ▼ 12.4% |
| Other operating charges640/8 | - | €30,084 | €27,307 | €22,559 | €23,860 | ▲ 5.8% |
| Gross operating margin9900 | €745,043 | €684,827 | €701,945 | €590,570 | €543,531 | ▼ 8.0% |
| Operating profit (loss)9901 | €297,674 | €230,516 | €198,436 | €132,900 | €170,570 | ▲ 28.3% |
| Financial income75/76B | - | €292 | €112 | €454 | €43 | ▼ 90.6% |
| Recurring financial income75 | €166 | €292 | €112 | €454 | €43 | ▼ 90.6% |
| Financial charges65/66B | - | €52,177 | €59,478 | €85,492 | €112,617 | ▲ 31.7% |
| Recurring financial charges65 | €50,531 | €52,177 | €59,478 | €85,492 | €112,617 | ▲ 31.7% |
| Profit (loss) for the period before taxes9903 | €247,309 | €178,630 | €139,069 | €47,863 | €57,996 | ▲ 21.2% |
| Transfer from deferred taxes780 | - | €21,011 | €22,391 | €17,937 | €13,134 | ▼ 26.8% |
| Transfer to deferred taxes680 | - | €39,646 | €23,781 | - | - | - |
| Income taxes67/77 | €29,427 | €11,115 | €23,139 | €30,475 | €28,098 | ▼ 7.8% |
| Profit (loss) for the period9904 | €187,170 | €148,881 | €114,541 | €35,324 | €43,032 | ▲ 21.8% |
| Transfer from tax-exempt reserves789 | - | €54,106 | €62,608 | €51,676 | €40,916 | ▼ 20.8% |
| Transfer to tax-exempt reserves689 | - | €158,582 | €95,123 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €118,930 | €44,404 | €82,026 | €87,000 | €83,948 | ▼ 3.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.4m | €4.7m | €4.7m | €4.4m | €4.4m | = |
| Fixed assets21/28 | €3.9m | €3.8m | €3.7m | €3.6m | €3.4m | ▼ 4.8% |
| Tangible fixed assets22/27 | €3.9m | €3.8m | €3.7m | €3.6m | €3.4m | ▼ 4.8% |
| Land and buildings22 | - | €3.7m | €3.6m | €3.5m | €3.4m | ▼ 5.1% |
| Plant, machinery and equipment23 | - | €58,529 | €49,192 | €41,215 | €46,039 | ▲ 11.7% |
| Furniture and vehicles24 | - | €86,643 | €40,330 | €10,732 | €13,209 | ▲ 23.1% |
| Financial fixed assets28 | €26,657 | €26,657 | €26,608 | €25,108 | €25,108 | = |
| Current assets29/58 | €453,600 | €830,220 | €962,860 | €774,122 | €945,318 | ▲ 22.1% |
| Stocks and contracts in progress3 | €4,393 | €490,086 | €510,148 | €545,638 | €737,529 | ▲ 35.2% |
| Stocks30/36 | - | €487,831 | €495,870 | €544,828 | €737,529 | ▲ 35.4% |
| Contracts in progress37 | - | €2,255 | €14,278 | €810 | - | - |
| Amounts receivable within one year40/41 | €381,064 | €221,971 | €216,285 | €125,789 | €167,364 | ▲ 33.1% |
| Trade receivables40 | - | €178,469 | €203,884 | €120,078 | €157,908 | ▲ 31.5% |
| Other amounts receivable41 | - | €43,503 | €12,401 | €5,711 | €9,456 | ▲ 65.6% |
| Cash at bank and in hand54/58 | €52,424 | €107,374 | €218,599 | €86,128 | €31,637 | ▼ 63.3% |
| Deferred charges and accrued income490/1 | - | €10,789 | €17,828 | €16,567 | €8,788 | ▼ 47.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.4m | €4.7m | €4.7m | €4.4m | €4.4m | = |
| Equity10/15 | €1.3m | €1.4m | €1.5m | €1.4m | €1.2m | ▼ 19.2% |
| Contributions10/11 | €256,906 | €256,906 | €256,906 | €125,000 | €125,000 | = |
| Capital10 | - | €256,906 | €256,906 | €125,000 | €125,000 | = |
| Issued capital100 | - | €256,906 | €256,906 | €125,000 | €125,000 | = |
| Reserves13 | €972,649 | €1.1m | €1.2m | €1.3m | €1.0m | ▼ 21.1% |
| Non-distributable reserves130/1 | - | €25,691 | €25,691 | €25,691 | €25,691 | = |
| Legal reserve130 | - | €25,691 | €25,691 | €25,691 | €25,691 | = |
| Tax-exempt reserves132 | - | €585,841 | €618,356 | €566,680 | €525,763 | ▼ 7.2% |
| Distributable reserves133 | - | €497,999 | €565,025 | €712,581 | €478,293 | ▼ 32.9% |
| Profit (loss) carried forward14 | €73,942 | €73,942 | €73,942 | - | - | - |
| Provisions and deferred taxes16 | €302,873 | €321,508 | €322,898 | €304,961 | €291,827 | ▼ 4.3% |
| Provisions for liabilities and charges160/5 | - | €121,931 | €121,931 | €121,931 | €121,931 | = |
| Pensions and similar obligations160 | - | €121,931 | €121,931 | €121,931 | €121,931 | = |
| Deferred taxes168 | - | €199,577 | €200,967 | €183,030 | €169,897 | ▼ 7.2% |
| Amounts payable17/49 | €2.8m | €2.9m | €2.8m | €2.7m | €2.9m | ▲ 10.8% |
| Amounts payable after more than one year17 | €2.3m | €2.4m | €2.3m | €2.1m | €2.4m | ▲ 11.7% |
| Financial debts170/4 | - | €2.3m | €2.3m | €1.7m | €1.5m | ▼ 12.7% |
| Other amounts payable178/9 | - | €18,770 | €22,280 | €379,740 | €849,740 | ▲ 124% |
| Amounts payable within one year42/48 | €472,097 | €526,499 | €508,619 | €512,548 | €515,465 | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | - | €361,481 | €328,025 | €274,463 | €241,254 | ▼ 12.1% |
| Financial debts43 | - | €5,024 | €5,024 | €12,444 | €17,461 | ▲ 40.3% |
| Credit institutions430/8 | - | €5,024 | €5,024 | €12,444 | €17,461 | ▲ 40.3% |
| Trade debts44 | €93,441 | €128,721 | €143,706 | €68,424 | €124,257 | ▲ 81.6% |
| Suppliers440/4 | - | €128,721 | €143,706 | €68,424 | €124,257 | ▲ 81.6% |
| Advances received on contracts in progress46 | - | - | - | - | €35,000 | - |
| Taxes, remuneration and social security45 | - | €19,273 | €16,864 | €21,444 | €12,471 | ▼ 41.8% |
| Taxes450/3 | - | €19,273 | €16,864 | €21,444 | €12,380 | ▼ 42.3% |
| Remuneration and social security454/9 | - | - | - | - | €91 | - |
| Other amounts payable47/48 | - | €12,000 | €15,000 | €135,774 | €85,021 | ▼ 37.4% |
| Accrued charges and deferred income492/3 | - | €13,178 | €21,224 | €16,944 | €52,020 | ▲ 207% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €187,170 | €148,881 | €114,541 | €35,324 | €43,032 | ▲ 21.8% |
| + Depreciation and write-downs630 | €284,224 | €254,983 | €251,493 | €229,532 | €201,141 | ▼ 12.4% |
| Operating cash flow (approximation) | €471,394 | €403,865 | €366,034 | €264,856 | €244,173 | ▼ 7.8% |
| Investment in fixed assets (approximation) | - | -€141,199 | -€145,434 | -€124,527 | -€28,346 | ▲ 77.2% |
| Change in cash | - | €54,950 | €111,225 | -€132,471 | -€54,491 | ▲ 58.9% |
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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 5 days late
2023
31-12
Financial
Weakest financial yearnet €35,324 ▼69.2%
Net result drops to €35,324, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 69 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 92 days late
2021
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 118 days late
2020
31-12
Financial
Highest result since 2018net €187,170 ▲275%
Operating result €297,674, net result €187,170, both a record.
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 119 days late
2019
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 9 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 58 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
2016
12-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 73 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Merelbeke-Melle · 1 establishment unit since 1994
Ground area
1,327 m²
Building footprint
469 m²
Volume, LiDAR
2,693 m³
Parcel 44412B0187/00F008, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LETALON
since 19942.066.556.096
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44412B0187/00F008 | Flanders | 1,327 m² | 1 · 469 m² | 10.2 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
2025 · 1 entry · 1,000 EUR awarded · 1,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,000 EUR | 1,000 EUR |
Recognitions · licences · registrations
Dual-learning approval
2 live approvalsMetselaar (vwo)
Ruwbouw duaal (so)
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Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 4,021 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-04-1994
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
68203Renting and operating of own or leased non-residential real estate, excluding land
41001General construction of residential buildings
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.