LEVELS
ActiveSummary
LEVELS has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €568,881. Equity is growing by about 10% per year across the filed financial years. Its solvency ranks better than 79% of 4,107 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€1.1m▼ 2.7%
2024 · €1.2m
Total assets
€1.5m▼ 0.5%
2024 · €1.5m
Net result
€568,881▲ 95.0%
2024 · €291,779
Working capital
€13,657▼ 62.9%
2024 · €36,766
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result has risen four years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.1m
2025
Net result€0.6m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.5m
2025
Equity€1.1m
2025
Debt€0.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.01m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)38.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency75.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.15
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€0.03m-€0.08m▲ 136%€0.08m▲ 7.5%€0.1m▲ 19.5%€0.1m▲ 4.4%€0.1m▲ 2.2%
Net result€0.6mabove the sector's middle half-€0.2mwithin the sector's middle half▼ 63.1%€0.3mwithin the sector's middle half▲ 35.8%€0.3mwithin the sector's middle half▲ 2.0%€0.3mwithin the sector's middle half▼ 0.9%€0.6mabove the sector's middle half▲ 95.0%
Equity€0.6mabove the sector's middle half-€0.8mwithin the sector's middle half▲ 36.7%€1.1mabove the sector's middle half▲ 36.5%€1.1mabove the sector's middle half▲ 4.1%€1.2mabove the sector's middle half▲ 3.7%€1.1mabove the sector's middle half▼ 2.7%
Total assets€1.1mabove the sector's middle half-€1.0mwithin the sector's middle half▼ 11.8%€1.5mwithin the sector's middle half▲ 58.1%€1.8mwithin the sector's middle half▲ 16.8%€1.5mwithin the sector's middle half▼ 14.7%€1.5mwithin the sector's middle half▼ 0.5%
Debt€0.5m-€0.2m▼ 67.3%€0.4m▲ 161%€0.6m▲ 48.5%€0.3m▼ 47.0%€0.4m▲ 6.9%
Working capital-€0.02mbelow the sector's middle half-€0.06mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 205%-€0.01mbelow the sector's middle half€0.04mwithin the sector's middle half€0.01mwithin the sector's middle half▼ 62.9%
Solvency53.4%within the sector's middle half-82.7%above the sector's middle half▲ 29.3pp71.4%above the sector's middle half▼ 11.3pp63.6%within the sector's middle half▼ 7.8pp77.4%above the sector's middle half▲ 13.7pp75.7%above the sector's middle half▼ 1.7pp
Current ratio0.93below the sector's middle half-1.56within the sector's middle half▲ 0.632.93within the sector's middle half▲ 1.370.96below the sector's middle half▼ 1.971.87within the sector's middle half▲ 0.911.15within the sector's middle half▼ 0.72
Return on assets (ROA)53.2%above the sector's middle half-22.2%above the sector's middle half▼ 31.0pp19.1%above the sector's middle half▼ 3.1pp16.7%within the sector's middle half▼ 2.4pp19.4%within the sector's middle half▲ 2.7pp38.0%above the sector's middle half▲ 18.6pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Why a figure moved sharply
- 2021 Net result -63% on 2020. The accounts now follow the abbreviated format, last year the micro format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.4m ▼ 2.2%
Current assets
€102,882 ▲ 30.2%
Equity and liabilities €1.5m
Equity
€1.1m ▼ 2.7%
Debt
€363,922 ▲ 6.9%
Debt's share of the balance-sheet total rises from 22.6% to 24.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€138,952▲
2024 · €136,606
Cash flow
€600,369▲
2024 · €323,268
Debt to equity
0.32▲
2024 · 0.29
ROE
50.1%▲
2024 · 25.0%
Interest coverage
21.12▲
2024 · 19.30
Debt ≤ 1 year
€89,225▲
2024 · €42,238
Debt > 1 year
€274,697▼
2024 · €298,175
Income taxes
€27,259▲
2024 · €26,474
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 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €12,973 | €21,966 | €31,489 | €31,489 | = |
| Other operating charges640/8 | - | €156 | €603 | €2,778 | €2,673 | €1,755 | ▼ 34.3% |
| Gross operating margin9900 | €33,505 | €78,556 | €97,858 | €125,437 | €139,279 | €140,707 | ▲ 1.0% |
| Operating profit (loss)9901 | €33,225 | €78,399 | €84,282 | €100,693 | €105,117 | €107,463 | ▲ 2.2% |
| Financial income75/76B | - | €150,000 | €210,006 | €226,820 | €220,213 | €495,254 | ▲ 125% |
| Recurring financial income75 | €550,000 | €150,000 | €210,006 | €226,820 | €220,213 | €495,254 | ▲ 125% |
| Financial charges65/66B | - | €47 | €5,739 | €7,568 | €7,076 | €6,578 | ▼ 7.0% |
| Recurring financial charges65 | €29 | €47 | €5,739 | €7,568 | €7,076 | €6,578 | ▼ 7.0% |
| Profit (loss) for the period before taxes9903 | €583,197 | €228,353 | €288,549 | €319,945 | €318,254 | €596,140 | ▲ 87.3% |
| Income taxes67/77 | €6,680 | €15,869 | €0 | €25,501 | €26,474 | €27,259 | ▲ 3.0% |
| Profit (loss) for the period9904 | €576,517 | €212,484 | €288,549 | €294,444 | €291,779 | €568,881 | ▲ 95.0% |
| Profit (loss) for the period to be appropriated9905 | €576,517 | €212,484 | €288,549 | €294,444 | €291,779 | €568,881 | ▲ 95.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.1m | €1.0m | €1.5m | €1.8m | €1.5m | €1.5m | ▼ 0.5% |
| Fixed assets21/28 | €0.8m | €0.8m | €1.3m | €1.5m | €1.4m | €1.4m | ▼ 2.2% |
| Tangible fixed assets22/27 | - | - | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 8.7% |
| Land and buildings22 | - | - | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 6.5% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.04m | €0.03m | ▼ 25.7% |
| Financial fixed assets28 | €0.8m | €0.8m | €0.9m | €1.1m | €1.1m | €1.1m | = |
| Current assets29/58 | €0.3m | €0.2m | €0.3m | €0.3m | €0.08m | €0.1m | ▲ 30.2% |
| Amounts receivable within one year40/41 | €0.2m | €131 | €0.01m | €0.2m | €0.02m | €403 | ▼ 98.3% |
| Trade receivables40 | - | €0 | €0.01m | €0.008m | €0 | - | - |
| Other amounts receivable41 | - | €131 | €183 | €0.2m | €0.02m | €403 | ▼ 98.3% |
| Current investments50/53 | - | - | - | - | - | €0.02m | - |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.08m | €0.05m | €0.08m | ▲ 54.4% |
| Deferred charges and accrued income490/1 | - | €131 | €0 | €0.001m | €0.001m | €0.001m | ▼ 10.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.5m | €1.8m | €1.5m | €1.5m | ▼ 0.5% |
| Equity10/15 | €0.6m | €0.8m | €1.1m | €1.1m | €1.2m | €1.1m | ▼ 2.7% |
| Contributions10/11 | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.6m | €0.8m | €1.1m | €1.1m | €1.2m | €1.1m | ▼ 2.7% |
| Amounts payable17/49 | €0.5m | €0.2m | €0.4m | €0.6m | €0.3m | €0.4m | ▲ 6.9% |
| Amounts payable after more than one year17 | €0.2m | €0.07m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 7.9% |
| Financial debts170/4 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 7.9% |
| Other amounts payable178/9 | - | €0.07m | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.1m | €0.09m | €0.3m | €0.04m | €0.09m | ▲ 111% |
| Current portion of amounts payable after more than one year42 | - | €0.1m | €0.09m | €0.06m | €0.02m | €0.02m | ▲ 2.0% |
| Trade debts44 | €287 | €374 | €0 | €311 | €0.004m | €0.003m | ▼ 29.7% |
| Suppliers440/4 | - | €374 | €0 | €311 | €0.004m | €0.003m | ▼ 29.7% |
| Taxes, remuneration and social security45 | - | €65 | €327 | €0.008m | €0 | €355 | - |
| Taxes450/3 | - | €65 | €327 | €0.008m | €0 | €355 | - |
| Remuneration and social security454/9 | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | €0 | €0.001m | €0.3m | €0.02m | €0.06m | ▲ 303% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €576,517 | €212,484 | €288,549 | €294,444 | €291,779 | €568,881 | ▲ 95.0% |
| + Depreciation and write-downs630 | - | - | €12,973 | €21,966 | €31,489 | €31,489 | = |
| Operating cash flow (approximation) | €576,517 | €212,484 | €301,522 | €316,410 | €323,268 | €600,369 | ▲ 85.7% |
| Investment in fixed assets (approximation) | - | €0 | -€465,462 | -€228,148 | €0 | €0 | - |
| Change in cash | - | €49,608 | €90,107 | -€165,590 | -€26,730 | €29,381 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-07-2026 | 2026-00302196 |
| 31-12-2024 | abbreviated format | 18-04-2025 | 2025-00071867 |
| 31-12-2023 | abbreviated format | 25-03-2024 | 2024-00048781 |
| 31-12-2022 | abbreviated format | 01-08-2023 | 2023-00301335 |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20223668 |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43300070 |
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Of the 12,108 active companies whose main activity is certified accountants and tax accountants (NACE 69201), figures are known for 7,739. 4,236 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.