LEVEL

Inactive

KBO/BCE: BE 0864.954.443

From the official registers: KBO 13 annual accounts at the National Bank publications in the Belgian Official Gazette

LEVEL was declared bankrupt on 08-12-2017 (Rechtbank van koophandel Leuven); the bankruptcy was closed by liquidation by judgment of 20-10-2022, published in the Belgian Official Gazette on 25-10-2022.

Summary

Inactive; last annual accounts for financial year 2016.

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Official details

KBO

Status: Inactive
Activity: No activity registered in the KBO
Financial year end: 31 December
Peppol: Not found in the Peppol Directory

Company details

Who decides

Board: Office holders in the KBO

Board & ownership

How it is doing

Inactive: no score

Annual accounts 2016

Gross margin: €1.1m; ▼ 7.2%
Turnover: ≈ €1.9m; estimated
Profit: €28,090; ▲ 288%
Equity: €252,656; ▲ 12.5%
Total assets: €1.7m; ▲ 13.0%
Staff: 19.9 FTE; ▼ 20.4%

Filed on 09-05-2017PDF

Financials

SignalsneutralPrior bankruptcyNo filing for yearsLatest accounts filed on timeShow the evidence

Signals

Three signals.

neutral

Prior bankruptcy

Earlier bankruptcy on record in the Belgian Official Gazette, no current open procedure.

Belgian Official Gazette

No filing for years

The last filed financial year closed on 31-12-2016. Since then, 9 financial years are missing. This points to a standstill, not an imminent failure.

NBB · 10 filings

Position against the passed deadline

31-12-2017 year end31-07-2018 deadline01-11-2026 today

Latest accounts filed on time

The financial year that closed on 31-12-2016 was due by 31-07-2017 and was filed on 09-05-2017, 83 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2016

83 days early

2015

3 days early

2014

38 days early

2013

24 days early

2012

2 days late

2011

3 days late

2010

11 days late

← before the deadline after the deadline →

Searched, nothing found (1)

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Financials · financial year 2016, abbreviated format

Latest annual accounts filed

Annual accounts 2016

Download PDF

Financial year ended: 31-12-2016
Filed on: 09-05-2017
Format: abbreviated format
Reference: 2017-11500400

All 13 filings

Turnover

≈ €1.9m

Estimated: probably between €1.3m and €3.2m

Total assets

€1.7m▲ 13.0%

2015 · €1.5m

Net result

€28,090▲ 288%

2015 · €7,234

Working capital

€240,846▲ 96.1%

2015 · €122,803

Trend over the years

Last 5 years All years

2012 to 2016, 5 financial years 2012 to 2016, 5 financial years

The operating result recovers in 2016; 2016 is 3.5 times 2015 and is the highest result in the available series.

Turnover and resultEquity and debtWorking capitalStaff

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€0.1m 2016 Net result€0.03m 2016

Every figure with its change against the financial year before

favourable unfavourable

Line20122013201420152016

Operating result€0.02m-€0.08m▲ 228%€0.03m▼ 58.1%€0.03m▼ 15.6%€0.1m▲ 250%

Net result€0.009m-€0.05m▲ 419%€0.005m▼ 88.3%€0.007m▲ 35.2%€0.03m▲ 288%

Equity€0.2m-€0.2m▲ 27.6%€0.2m▲ 2.5%€0.2m▲ 3.3%€0.3m▲ 12.5%

Total assets€0.4m-€1.0m▲ 143%€1.3m▲ 31.1%€1.5m▲ 18.3%€1.7m▲ 13.0%

Debt€0.2m-€0.7m▲ 259%€1.0m▲ 40.8%€1.2m▲ 22.1%€1.4m▲ 15.7%

Working capital€0.1m-€0.2m▲ 39.9%€0.2m▲ 11.5%€0.1m▼ 43.7%€0.2m▲ 96.1%

Staff (FTE)16.6-18.2▲ 9.6%22▲ 20.9%25▲ 13.6%19.9▼ 20.4%

Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2016 in colour, 2015 as the grey bar beneath

Assets €1.6m

94.6%

Fixed assets €88,004 ▼ 36.4%

Current assets €1.6m ▲ 15.6%

Equity and liabilities €1.7m

15.1%

84.9%

Equity €252,656 ▲ 12.5%

Provisions €0 ▼ 100%

Debt €1.4m ▲ 15.7%

Debt's share of the balance-sheet total rises from 82.9% to 84.9%. Equity and debt are higher.

Key figures and ratios

2016 value · change against 2015

EBITDA

€136,979▲

2015 · €60,593

Cash flow

€69,777▲

2015 · €40,588

Current ratio

1.18▲

2015 · 1.10

Quick ratio

0.85▼

2015 · 0.95

Debt to equity

0.44▲

2015 · 0.04

ROE

11.1%▲

2015 · 3.2%

ROA

1.7%▲

2015 · 0.5%

Debt ≤ 1 year

€1.3m▲

2015 · €1.2m

Debt > 1 year

€109,981▲

2015 · €8,471

Income taxes

€23,951▲

2015 · €11,343

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2016 against 2015 · 28 lines

Source: Annual accounts 2016 (PDF), filed with the National Bank on 09-05-2017.

Balance sheet Code20152016

Assets

Total assets20/58€1.5m€1.7m▲

Formation expenses20€0.04m€0.03m▼

Fixed assets21/28€0.1m€0.09m▼

Tangible fixed assets22/27€0.1m€0.09m▼

Financial fixed assets28€20€20=

Current assets29/58€1.3m€1.6m▲

Stocks and contracts in progress3€0.2m€0.4m▲

Amounts receivable within one year40/41€1.1m€0.8m▼

Cash at bank and in hand54/58€0.1m€0.3m▲

Equity and liabilities

Total equity and liabilities10/49€1.5m€1.7m▲

Equity10/15€0.2m€0.3m▲

Contributions10/11€0.02m€0.02m=

Reserves13€0.2m€0.2m▲

Profit (loss) carried forward14€56€146▲

Provisions and deferred taxes16€0.03m-

Amounts payable17/49€1.2m€1.4m▲

Amounts payable after more than one year17€0.008m€0.1m▲

Amounts payable within one year42/48€1.2m€1.3m▲

Trade debts44€0.4m€0.4m▼

Income statement Code20152016

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.03m€0.04m▲

Gross operating margin9900€1.2m€1.1m▼

Operating profit (loss)9901€0.03m€0.1m▲

Recurring financial income75€0.02m€0.02m▼

Recurring financial charges65€0.03m€0.06m▲

Profit (loss) for the period before taxes9903€0.02m€0.05m▲

Income taxes67/77€0.01m€0.02m▲

Profit (loss) for the period9904€0.007m€0.03m▲

Profit (loss) for the period to be appropriated9905€0.007m€0.03m▲

Line	2012	2013	2014	2015	2016	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.02m	€0.02m	€0.02m	€0.03m	€0.04m	▲ 25.0%
Gross operating margin9900	€0.6m	€0.9m	€1.1m	€1.2m	€1.1m	▼ 7.2%
Operating profit (loss)9901	€0.02m	€0.08m	€0.03m	€0.03m	€0.1m	▲ 250%
Recurring financial income75	€0.002m	€0.01m	€0.02m	€0.02m	€0.02m	▼ 14.2%
Recurring financial charges65	€0.01m	€0.04m	€0.03m	€0.03m	€0.06m	▲ 110%
Profit (loss) for the period before taxes9903	€0.01m	€0.05m	€0.02m	€0.02m	€0.05m	▲ 180%
Income taxes67/77	€0.004m	-	€0.01m	€0.01m	€0.02m	▲ 111%
Profit (loss) for the period9904	€0.009m	€0.05m	€0.005m	€0.007m	€0.03m	▲ 288%
Profit (loss) for the period to be appropriated9905	€0.009m	€0.05m	€0.005m	€0.007m	€0.03m	▲ 288%

Line	2012	2013	2014	2015	2016	Change
Assets
Total assets20/58	€0.4m	€1.0m	€1.3m	€1.5m	€1.7m	▲ 13.0%
Formation expenses20	€0.03m	€0.02m	€0.01m	€0.04m	€0.03m	▼ 7.1%
Fixed assets21/28	€0.06m	€0.05m	€0.04m	€0.1m	€0.09m	▼ 36.4%
Tangible fixed assets22/27	€0.04m	€0.03m	€0.03m	€0.1m	€0.09m	▼ 13.8%
Financial fixed assets28	€20	€20	€20	€20	€20	=
Current assets29/58	€0.3m	€0.9m	€1.2m	€1.3m	€1.6m	▲ 15.6%
Stocks and contracts in progress3	€0.05m	€0.1m	€0.1m	€0.2m	€0.4m	▲ 143%
Amounts receivable within one year40/41	€0.3m	€0.8m	€0.9m	€1.1m	€0.8m	▼ 19.2%
Cash at bank and in hand54/58	€0.005m	€0.04m	€0.2m	€0.1m	€0.3m	▲ 140%
Equity and liabilities
Total equity and liabilities10/49	€0.4m	€1.0m	€1.3m	€1.5m	€1.7m	▲ 13.0%
Equity10/15	€0.2m	€0.2m	€0.2m	€0.2m	€0.3m	▲ 12.5%
Contributions10/11	€0.02m	€0.02m	€0.02m	€0.02m	€0.02m	=
Reserves13	€0.008m	€0.008m	€0.2m	€0.2m	€0.2m	▲ 13.6%
Profit (loss) carried forward14	€0.1m	€0.2m	€0.001m	€56	€146	▲ 161%
Provisions and deferred taxes16	€0.03m	€0.03m	€0.03m	€0.03m	-	-
Amounts payable17/49	€0.2m	€0.7m	€1.0m	€1.2m	€1.4m	▲ 15.7%
Amounts payable after more than one year17	€0.01m	€0.01m	€0.02m	€0.008m	€0.1m	▲ 13×
Amounts payable within one year42/48	€0.2m	€0.7m	€1.0m	€1.2m	€1.3m	▲ 7.5%
Trade debts44	€0.07m	€0.2m	€0.3m	€0.4m	€0.4m	▼ 3.0%

Line	2012	2013	2014	2015	2016	Change
Profit (loss) for the period9904	€8,846	€45,884	€5,352	€7,234	€28,090	▲ 288%
+ Depreciation and write-downs630	€21,792	€22,356	€23,013	€33,354	€41,687	▲ 25.0%
Operating cash flow (approximation)	€30,638	€68,240	€28,365	€40,588	€69,777	▲ 71.9%
Investment in fixed assets (approximation)	-	-€12,463	-€11,694	-€128,218	€8,739	-
Change in cash	-	€31,807	€190,902	-€117,597	€153,180	-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 13 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2016	abbreviated format	09-05-2017	2017-11500400	PDF
31-12-2015	abbreviated format	28-07-2016	2016-37400191	PDF
31-12-2014	abbreviated format	23-06-2015	2015-20100245	PDF
31-12-2013	abbreviated format	07-07-2014	2014-27400123	PDF
31-12-2012	abbreviated format	02-08-2013	2013-39400102	PDF
31-12-2011	abbreviated format	03-08-2012	2012-38500463	PDF
31-12-2010	abbreviated format	11-08-2011	2011-39600079	PDF
31-12-2009	abbreviated format	13-08-2010	2010-42000233	PDF
31-12-2008	abbreviated format	04-08-2009	2009-54800079	PDF
31-12-2007	abbreviated format	26-08-2008	2008-64100287	PDF

Show all 13 filings

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Office holders in the KBO →

Insolvency mandates

1 mandate

Role	Name	Tenure
Trustee	Mr De Rieck Jan Vaartstraat 70, 3000 Leuven	08-12-2017 → 20-10-2022

Owners and capital

Owners

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

History

Total assets rose from €393,095 in 2012 to €1.7m in 2016 and headcount from 16.6 to 19.9 full-time equivalents.¹ On 8 December 2017 LEVEL was declared bankrupt; the bankruptcy was closed on 20 October 2022.²³

Acts, filings and financial milestones

All 16Signals 2Financial 3Gazette 1Filings 10

2023

16-05

Gazette deed Duration · CapitalPDF

Board rule · Representation rule

2022

25-10

Bankruptcy Bankruptcy closure (by liquidation)

Enterprise Court of Leuven · judgment of 20-10-2022

2017

13-12

Bankruptcy Opening

Commercial Court of Leuven · judgment of 08-12-2017

09-05

NBB filing Annual accounts filedPDF

financial year 2016 · abbreviated format

2016

28-07

NBB filing Annual accounts filedPDF

financial year 2015 · abbreviated format

2015

23-06

NBB filing Annual accounts filedPDF

financial year 2014 · abbreviated format

2014

31-12

Financial Weakest financial yearnet €5,352 ▼88.3%

Net result drops to €5,352, the lowest in the series.

07-07

NBB filing Annual accounts filedPDF

financial year 2013 · abbreviated format

2013

31-12

Financial Highest result from 2012 to 2016net €45,884 ▲419%

Net result €45,884, the highest in the series.

31-12

Financial Equity above €200,000equity €211,980 ▲27.6%

A profit in every financial year since 2012 builds equity to €211,980.

02-08

NBB filing Annual accounts filedPDF

financial year 2012 · abbreviated format · 2 days late

2012

03-08

NBB filing Annual accounts filedPDF

financial year 2011 · abbreviated format · 3 days late

Show earlier events

2011

11-08

NBB filing Annual accounts filedPDF

financial year 2010 · abbreviated format · 11 days late

2010

13-08

NBB filing Annual accounts filedPDF

financial year 2009 · abbreviated format · 13 days late

2009

04-08

NBB filing Annual accounts filedPDF

financial year 2008 · abbreviated format · 4 days late

2008

26-08

NBB filing Annual accounts filedPDF

financial year 2007 · abbreviated format · 26 days late

Show all 13 filings

SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

Inactive

LEVEL is no longer in the KBO register.

Status: Inactive
Last annual accounts: financial year to 31 December 2016
Last registered office: Galgenbergstraat 9, 3220 Holsbeekas published on 1 June 2017
Legal form: Private limited company (pre-2019)
First annual accounts: financial year 2004

Official KBO record