LETHI
ActiveSummary
LETHI has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of -€30,736. Equity is growing by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 70% of 7833 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+3
Solvency97▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity short (current ratio 0.12 against 0.18 in 2024; short-term debt: 28.2% and cash: 0% of total assets), and 28.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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 2025Solvency, return and age of the figures
Solvency
71.5%
Return on assets
-1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-12-2025, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
29 d early
2023
on the day
2022
27 d early
2021
6 d early
2020
23 d early
2019
98 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€2.1m▼ 1.4%
2024 · €2.1m
Total assets
€2.9m▼ 4.3%
2024 · €3.1m
Net result
-€30,736▲ 3.2%
2024 · -€31,738
Working capital
-€726,182▲ 4.0%
2024 · -€756,491
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€9,959▼ 43.4%€7,704▼ 22.6%-€10,908-€23,176▼ 112%-€22,658▲ 2.2%
Net result€503within the sector's middle half▼ 94.8%-€1,439below the sector's middle half-€19,667below the sector's middle half▼ 1,267%-€31,738below the sector's middle half▼ 61.4%-€30,736below the sector's middle half▲ 3.2%
Equity€2.1mabove the sector's middle half▲ 94.5%€2.2mabove the sector's middle half▲ 6.1%€2.2mabove the sector's middle half▼ 0.9%€2.1mabove the sector's middle half▼ 1.5%€2.1mabove the sector's middle half▼ 1.4%
Total assets€3.1mabove the sector's middle half▲ 48.0%€3.2mabove the sector's middle half▲ 4.0%€3.1mabove the sector's middle half▼ 2.8%€3.1mabove the sector's middle half▼ 0.8%€2.9mabove the sector's middle half▼ 4.3%
Debt€1.0m▼ 0.7%€1.0m▼ 0.4%€932,236▼ 6.8%€938,705▲ 0.7%€836,992▼ 10.8%
Working capital-€824,887below the sector's middle half▲ 8.0%-€806,150below the sector's middle half▲ 2.3%-€795,393below the sector's middle half▲ 1.3%-€756,491below the sector's middle half▲ 4.9%-€726,182below the sector's middle half▲ 4.0%
Solvency67.2%within the sector's middle half▲ 16.1pp68.6%within the sector's middle half▲ 1.4pp69.9%within the sector's middle half▲ 1.3pp69.4%within the sector's middle half▼ 0.5pp71.5%within the sector's middle half▲ 2.1pp
Current ratio0.16below the sector's middle half▲ 0.060.18below the sector's middle half▲ 0.020.14below the sector's middle half▼ 0.050.18below the sector's middle half▲ 0.040.12below the sector's middle half▼ 0.06
Return on assets (ROA)0.0%within the sector's middle half▼ 0.5pp0.0%below the sector's middle half▼ 0.1pp-0.6%below the sector's middle half▼ 0.6pp-1.0%below the sector's middle half▼ 0.4pp-1.0%below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €22,658 in 2025 against €23,176 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.8m ▼ 2.3%
Current assets
€101,832 ▼ 39.5%
Equity and liabilities €2.9m
Equity
€2.1m ▼ 1.4%
Debt
€836,992 ▼ 10.8%
Debt's share of the balance-sheet total falls from 30.6% to 28.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€43,278▲
2024 · €43,116
Cash flow
€35,200▲
2024 · €34,555
Debt to equity
0.40▼
2024 · 0.44
ROE
-1.5%▲
2024 · -1.5%
Interest coverage
4.82▲
2024 · 4.56
Debt ≤ 1 year
€828,014▼
2024 · €924,836
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,616 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,745 | €61,079 | €64,680 | €66,293 | €65,936 | ▼ 0.5% |
| Other operating charges640/8 | - | €4,674 | €4,945 | €5,224 | €5,484 | ▲ 5.0% |
| Gross operating margin9900 | €76,575 | €73,456 | €58,717 | €48,341 | €48,761 | ▲ 0.9% |
| Operating profit (loss)9901 | €9,959 | €7,704 | -€10,908 | -€23,176 | -€22,658 | ▲ 2.2% |
| Financial income75/76B | - | €900 | €900 | €900 | €900 | = |
| Recurring financial income75 | €350 | €900 | €900 | €900 | €900 | = |
| Financial charges65/66B | - | €10,043 | €9,659 | €9,461 | €8,978 | ▼ 5.1% |
| Recurring financial charges65 | €9,806 | €10,043 | €9,659 | €9,461 | €8,978 | ▼ 5.1% |
| Profit (loss) for the period before taxes9903 | €503 | -€1,439 | -€19,667 | -€31,738 | -€30,736 | ▲ 3.2% |
| Profit (loss) for the period9904 | €503 | -€1,439 | -€19,667 | -€31,738 | -€30,736 | ▲ 3.2% |
| Profit (loss) for the period to be appropriated9905 | €503 | -€1,439 | -€19,667 | -€31,738 | -€30,736 | ▲ 3.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €3.2m | €3.1m | €3.1m | €2.9m | ▼ 4.3% |
| Fixed assets21/28 | €2.9m | €3.0m | €3.0m | €2.9m | €2.8m | ▼ 2.3% |
| Tangible fixed assets22/27 | €2.9m | €3.0m | €3.0m | €2.9m | €2.8m | ▼ 2.3% |
| Land and buildings22 | - | €3.0m | €3.0m | €2.9m | €2.8m | ▼ 2.2% |
| Plant, machinery and equipment23 | - | €15,959 | €14,181 | €12,403 | €10,625 | ▼ 14.3% |
| Furniture and vehicles24 | - | €287 | €215 | €144 | €72 | ▼ 49.9% |
| Current assets29/58 | €158,113 | €182,047 | €127,322 | €168,345 | €101,832 | ▼ 39.5% |
| Amounts receivable after more than one year29 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Other amounts receivable291 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Amounts receivable within one year40/41 | €22,995 | €20,938 | €19,731 | €20,972 | €18,300 | ▼ 12.7% |
| Trade receivables40 | - | €20,752 | €17,311 | €20,450 | €18,300 | ▼ 10.5% |
| Other amounts receivable41 | - | €187 | €2,421 | €522 | - | - |
| Cash at bank and in hand54/58 | €59,328 | €81,381 | €31,556 | €68,300 | €883 | ▼ 98.7% |
| Deferred charges and accrued income490/1 | - | €4,728 | €1,034 | €4,073 | €7,649 | ▲ 87.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €3.2m | €3.1m | €3.1m | €2.9m | ▼ 4.3% |
| Equity10/15 | €2.1m | €2.2m | €2.2m | €2.1m | €2.1m | ▼ 1.4% |
| Contributions10/11 | €123,947 | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Capital10 | - | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Issued capital100 | - | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Revaluation surpluses12 | - | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Reserves13 | €161,567 | €13,419 | €13,419 | €13,419 | €13,419 | = |
| Non-distributable reserves130/1 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Legal reserve130 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Tax-exempt reserves132 | - | €436 | €436 | €436 | €436 | = |
| Distributable reserves133 | - | €588 | €588 | €588 | €588 | = |
| Profit (loss) carried forward14 | -€226,709 | -€80,000 | -€99,667 | -€131,404 | -€162,140 | ▼ 23.4% |
| Amounts payable17/49 | €1.0m | €1.0m | €932,236 | €938,705 | €836,992 | ▼ 10.8% |
| Amounts payable within one year42/48 | €983,001 | €988,198 | €922,715 | €924,836 | €828,014 | ▼ 10.5% |
| Trade debts44 | €227 | €376 | €264 | €2,357 | €57 | ▼ 97.6% |
| Suppliers440/4 | - | €376 | €264 | €2,357 | €57 | ▼ 97.6% |
| Taxes, remuneration and social security45 | - | €4,321 | €3,951 | €3,980 | €3,639 | ▼ 8.6% |
| Taxes450/3 | - | €4,321 | €3,951 | €3,980 | €3,639 | ▼ 8.6% |
| Other amounts payable47/48 | - | €983,501 | €918,500 | €918,500 | €824,318 | ▼ 10.3% |
| Accrued charges and deferred income492/3 | - | €12,119 | €9,522 | €13,869 | €8,978 | ▼ 35.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €503 | -€1,439 | -€19,667 | -€31,738 | -€30,736 | ▲ 3.2% |
| + Depreciation and write-downs630 | €59,745 | €61,079 | €64,680 | €66,293 | €65,936 | ▼ 0.5% |
| Operating cash flow (approximation) | €60,247 | €59,640 | €45,013 | €34,555 | €35,200 | ▲ 1.9% |
| Investment in fixed assets (approximation) | - | -€159,029 | -€31,659 | €0 | €0 | - |
| Change in cash | - | €22,053 | -€49,825 | €36,744 | -€67,417 | ▼ 283% |
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
2025
12-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
02-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet -€31,738
Net result drops to -€31,738, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Equity above €2mEq €2.1m ▲94.5%
3 profitable years in a row build equity to €2.1m.
08-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Highest result since 2019net €9,732 ▲32.2%
Operating result €17,604, net result €9,732, both a record.
2019
25-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
26-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Knokke-Heist · 1 establishment unit since 1995
Ground area
1,970 m²
Building footprint
497 m²
Volume, LiDAR
2,484 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LETHI
since 19952.071.274.058
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332F0740/00P000 | Flanders | 1,000 m² | 1 · 288 m² | 9.7 m · 2 fl. |
| 31333H0532/00B004 | Flanders | 970 m² | 1 · 209 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- DIGERSO
- LETHI
Highest known parent: DIGERSO. The sources do not say who stands above it.
Owners 1
- DIGERSOparent99.6%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,421. 3,139 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
Founded06-02-1995
Fiscal year end30-06
Activities, NACEBEL 2025
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454487362
Also
9925:BE0454487362
Registered
28-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.