LETTREM
ActiveSummary
LETTREM has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €207k and a net result of €45k. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 838 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability94▲+12
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity ample (current ratio 7.66 against 5.59 in 2023; short-term debt: 7.3% and cash: 32.5% of total assets), and 7.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Other manufacturing (NACE 32)
about 28% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-06-2025, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
51 d early
2023
51 d early
2022
25 d late
2021
51 d early
2020
18 d early
2019
17 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€207k▲ 28.0%
2023 · €162k
2018: €77klowest in 7 years
2019: €86k▲ +12.6% vs 2018
2020: €93k▲ +8.2% vs 2019
2021: €131k▲ +40.1% vs 2020
2022: €144k▲ +9.7% vs 2021
2023: €162k▲ +12.8% vs 2022
2024: €207k▲ +28.0% vs 2023highest in 7 years
2018 → 2024
Total assets
€224k▲ 24.8%
2023 · €179k
2018: €119k
2019: €115k▼ -4.0% vs 2018lowest in 7 years
2020: €125k▲ +8.6% vs 2019
2021: €154k▲ +23.4% vs 2020
2022: €175k▲ +13.8% vs 2021
2023: €179k▲ +2.4% vs 2022
2024: €224k▲ +24.8% vs 2023highest in 7 years
2018 → 2024
Net result
€45k▲ 147%
2023 · €18k
2018: €8k
2019: €10k▲ +16.9% vs 2018
2020: €7k▼ -26.5% vs 2019lowest in 7 years
2021: €37k▲ +427% vs 2020
2022: €13k▼ -66.1% vs 2021
2023: €18k▲ +44.1% vs 2022
2024: €45k▲ +147% vs 2023highest in 7 years
2018 → 2024
Working capital
€109k▲ 37.9%
2023 · €79k
2018: €41klowest in 7 years
2019: €52k▲ +28.8% vs 2018
2020: €47k▼ -9.9% vs 2019
2021: €85k▲ +80.3% vs 2020
2022: €57k▼ -33.1% vs 2021
2023: €79k▲ +39.0% vs 2022
2024: €109k▲ +37.9% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€93k-€131k▲ 40.1%€144k▲ 9.7%€162k▲ 12.8%€207k▲ 28.0%
2020: €93klowest in 5 years
2021: €131k▲ +40.1% vs 2020
2022: €144k▲ +9.7% vs 2021
2023: €162k▲ +12.8% vs 2022
2024: €207k▲ +28.0% vs 2023highest in 5 years
Operating result€12k-€52k▲ 353%€27k▼ 48.4%€29k▲ 7.6%€58k▲ 99.8%
2020: €12klowest in 5 years
2021: €52k▲ +353% vs 2020
2022: €27k▼ -48.4% vs 2021
2023: €29k▲ +7.6% vs 2022
2024: €58k▲ +99.8% vs 2023highest in 5 years
Net result€7k-€37k▲ 427%€13k▼ 66.1%€18k▲ 44.1%€45k▲ 147%
2020: €7klowest in 5 years
2021: €37k▲ +427% vs 2020
2022: €13k▼ -66.1% vs 2021
2023: €18k▲ +44.1% vs 2022
2024: €45k▲ +147% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 100% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €224k
Fixed assets
€98k ▲ 18.4%
Current assets
€126k ▲ 30.3%
Equity and liabilities €224k
Equity
€207k ▲ 28.0%
Debt
€16k ▼ 5.0%
Debt's share of the balance-sheet total falls from 9.6% to 7.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€81k▲
2023 · €51k
Cash flow
€68k▲
2023 · €40k
Current ratio
7.66▲
2023 · 5.59
Debt to equity
0.08▼
2023 · 0.11
ROE
21.9%▲
2023 · 11.3%
ROA
20.2%▲
2023 · 10.2%
Interest coverage
24.16▲
2023 · 13.14
Debt ≤ 1 year
€16k▼
2023 · €17k
Income taxes
€10k▲
2023 · €7k
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 · 2024 against 2023 · 51 lines
Balance sheet
Code20232024
Assets
Total assets20/58€179k€224k▲
Fixed assets21/28€83k€98k▲
Intangible fixed assets21-€0
Tangible fixed assets22/27€83k€98k▲
Land and buildings22€14k€17k▲
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€62k€44k▼
Assets under construction and advance payments27-€33k
Financial fixed assets28€28€28=
Current assets29/58€96k€126k▲
Amounts receivable within one year40/41€44k€52k▲
Trade receivables40€11k€17k▲
Other amounts receivable41€34k€35k▲
Cash at bank and in hand54/58€49k€73k▲
Deferred charges and accrued income490/1€3k€566▼
Equity and liabilities
Total equity and liabilities10/49€179k€224k▲
Equity10/15€162k€207k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€78k€99k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€72k€93k▲
Profit (loss) carried forward14€22k€47k▲
Amounts payable17/49€17k€16k▼
Amounts payable within one year42/48€17k€16k▼
Current portion of amounts payable after more than one year42€2k€2k▲
Financial debts43€5k€7k▲
Credit institutions430/8€5k€7k▲
Trade debts44€6k€3k▼
Suppliers440/4€6k€3k▼
Taxes, remuneration and social security45€1k€3k▲
Taxes450/3€1k€3k▲
Other amounts payable47/48€3k€2k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€23k▲
Other operating charges640/8€4k€5k▲
Gross operating margin9900€55k€85k▲
Operating profit (loss)9901€29k€58k▲
Financial income75/76B-€2
Recurring financial income75-€2
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€25k€55k▲
Income taxes67/77€7k€10k▲
Profit (loss) for the period9904€18k€45k▲
Profit (loss) for the period to be appropriated9905€18k€45k▲
Appropriation of the result
Profit (loss) to be appropriated9906€40k€67k▲
Profit (loss) brought forward from the previous period14P€22k€22k=
Transfer to equity691/2€18k€20k▲
To other reserves6921€18k€20k▲
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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €865 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €10k | €15k | €22k | €23k | ▲ 3.5% |
| Other operating charges640/8 | - | €15k | €6k | €4k | €5k | ▲ 12.8% |
| Gross operating margin9900 | €29k | €78k | €49k | €55k | €85k | ▲ 55.2% |
| Operating profit (loss)9901 | €12k | €52k | €27k | €29k | €58k | ▲ 99.8% |
| Financial income75/76B | - | €1 | €129 | - | €2 | - |
| Recurring financial income75 | €14 | €1 | €129 | - | €2 | - |
| Financial charges65/66B | - | €4k | €4k | €4k | €3k | ▼ 13.7% |
| Recurring financial charges65 | €3k | €4k | €4k | €4k | €3k | ▼ 13.7% |
| Profit (loss) for the period before taxes9903 | €7k | €49k | €24k | €25k | €55k | ▲ 117% |
| Income taxes67/77 | - | €11k | €11k | €7k | €10k | ▲ 38.5% |
| Profit (loss) for the period9904 | €7k | €37k | €13k | €18k | €45k | ▲ 147% |
| Profit (loss) for the period to be appropriated9905 | €7k | €37k | €13k | €18k | €45k | ▲ 147% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €125k | €154k | €175k | €179k | €224k | ▲ 24.8% |
| Fixed assets21/28 | €46k | €46k | €87k | €83k | €98k | ▲ 18.4% |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €46k | €46k | €87k | €83k | €98k | ▲ 18.4% |
| Land and buildings22 | - | €19k | €16k | €14k | €17k | ▲ 17.4% |
| Plant, machinery and equipment23 | - | €7k | €6k | €6k | €4k | ▼ 30.5% |
| Furniture and vehicles24 | - | €20k | €64k | €62k | €44k | ▼ 29.6% |
| Assets under construction and advance payments27 | - | - | - | - | €33k | - |
| Financial fixed assets28 | €28 | €28 | €28 | €28 | €28 | = |
| Current assets29/58 | €78k | €108k | €88k | €96k | €126k | ▲ 30.3% |
| Amounts receivable within one year40/41 | €52k | €43k | €65k | €44k | €52k | ▲ 18.5% |
| Trade receivables40 | - | €12k | €31k | €11k | €17k | ▲ 63.2% |
| Other amounts receivable41 | - | €31k | €34k | €34k | €35k | ▲ 4.4% |
| Cash at bank and in hand54/58 | €27k | €63k | €18k | €49k | €73k | ▲ 47.7% |
| Deferred charges and accrued income490/1 | - | €3k | €5k | €3k | €566 | ▼ 81.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €125k | €154k | €175k | €179k | €224k | ▲ 24.8% |
| Equity10/15 | €93k | €131k | €144k | €162k | €207k | ▲ 28.0% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €10k | €47k | €60k | €78k | €99k | ▲ 26.2% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €41k | €54k | €72k | €93k | ▲ 28.4% |
| Profit (loss) carried forward14 | €22k | €22k | €22k | €22k | €47k | ▲ 112% |
| Amounts payable17/49 | €31k | €23k | €31k | €17k | €16k | ▼ 5.0% |
| Amounts payable within one year42/48 | €31k | €23k | €31k | €17k | €16k | ▼ 5.0% |
| Current portion of amounts payable after more than one year42 | - | - | €2k | €2k | €2k | ▲ 0.2% |
| Financial debts43 | - | - | - | €5k | €7k | ▲ 55.6% |
| Credit institutions430/8 | - | - | - | €5k | €7k | ▲ 55.6% |
| Trade debts44 | €2k | €5k | €12k | €6k | €3k | ▼ 55.1% |
| Suppliers440/4 | - | €5k | €12k | €6k | €3k | ▼ 55.1% |
| Taxes, remuneration and social security45 | - | €14k | €17k | €1k | €3k | ▲ 136% |
| Taxes450/3 | - | €14k | €17k | €1k | €3k | ▲ 136% |
| Other amounts payable47/48 | - | €4k | - | €3k | €2k | ▼ 49.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €37k | €13k | €18k | €45k | ▲ 147% |
| + Depreciation and write-downs630 | €15k | €10k | €15k | €22k | €23k | ▲ 3.5% |
| Operating cash flow (approximation) | €22k | €48k | €28k | €40k | €68k | ▲ 69.1% |
| Investment in fixed assets (approximation) | - | €-10k | €-56k | €-18k | €-38k | ▼ 111% |
| Change in cash | - | €36k | €-45k | €31k | €23k | ▼ 24.4% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €45k ▲147%
Operating result €58k, net result €45k, both a record.
31-12
Financial
Equity above €200kEq €207k ▲28%
7 profitable years in a row build equity to €207k.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €162k ▲12.8%
6 profitable years in a row build equity to €162k.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €131k ▲40.1%
4 profitable years in a row build equity to €131k.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €7k ▼26.5%
Net result drops to €7k, the lowest in the series; recovery starts the following year.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
Show earlier events
2018
26-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 87 days late
2017
09-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 70 days late
2016
15-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 137 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Vresse-sur-Semois · 1 establishment unit since 1989
Ground area
1,500 m²
Building footprint
247 m²
Volume, LiDAR
1,467 m³
2 parcels, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Albert Raty,Vresse 82, 5550 Vresse-sur-Semois
since 19892.043.602.631
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91130A0196/00E002 | Wallonia | 802 m² | 1 · 80 m² | 6.8 m · 2 fl. |
| 91130A0196/00L002 | Wallonia | 698 m² | 1 · 167 m² | 9.0 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.
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Of 914 companies in sector 32990 we hold annual accounts for 163. 110 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
Founded01-06-1989
Fiscal year end31-12
Activities, NACEBEL 2025
32990Other manufacturing not elsewhere classified
93299Other amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.