LEVI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 21 filings
Equity
€225,271▼ 5.3%
2024 · €237,853
Total assets
€225,853▼ 8.5%
2024 · €246,955
Net result
-€12,581▼ 1,514%
2024 · -€780
Working capital
€208,445▼ 0.2%
2024 · €208,828
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€12,492
2025
20182025
Net result
-€12,581
▼ 1,514%
2025
lowest quarter of the sector
20182025
Equity
€225,271
▼ 5.3%
2025
highest quarter of the sector
20182025
Total assets
€225,853
▼ 8.5%
2025
middle half of the sector
20182025
Debt
€581
▼ 93.6%
2025
20182025
Working capital
€208,445
▼ 0.2%
2025
highest quarter of the sector
20182025
Solvency
99.7%
▲ 3.4pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-5.6%
▼ 5.3pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€27,410-€23,178▼ 15.4%€26,125▲ 12.7%€27,488▲ 5.2%€3,220▼ 88.3%€20,333▲ 531%€524▼ 97.4%-€12,492
Net result€21,433-€16,413▼ 23.4%€18,590within the sector's middle half▲ 13.3%€19,359within the sector's middle half▲ 4.1%€1,861within the sector's middle half▼ 90.4%€12,854within the sector's middle half▲ 591%-€780below the sector's middle half-€12,581below the sector's middle half▼ 1,514%
Equity€169,555-€185,968▲ 9.7%€204,558above the sector's middle half▲ 10.0%€223,917above the sector's middle half▲ 9.5%€225,778above the sector's middle half▲ 0.8%€238,632above the sector's middle half▲ 5.7%€237,853above the sector's middle half▼ 0.3%€225,271above the sector's middle half▼ 5.3%
Total assets€179,886-€190,057▲ 5.7%€214,401within the sector's middle half▲ 12.8%€229,907within the sector's middle half▲ 7.2%€232,519within the sector's middle half▲ 1.1%€247,449within the sector's middle half▲ 6.4%€246,955within the sector's middle half▼ 0.2%€225,853within the sector's middle half▼ 8.5%
Debt€10,331-€4,088▼ 60.4%€9,843▲ 141%€5,991▼ 39.1%€6,741▲ 12.5%€8,817▲ 30.8%€9,102▲ 3.2%€581▼ 93.6%
Working capital€162,803-€181,186▲ 11.3%€196,502above the sector's middle half▲ 8.5%€215,925above the sector's middle half▲ 9.9%€219,317above the sector's middle half▲ 1.6%€214,497above the sector's middle half▼ 2.2%€208,828above the sector's middle half▼ 2.6%€208,445above the sector's middle half▼ 0.2%
Solvency94.3%-97.8%▲ 3.6pp95.4%above the sector's middle half▼ 2.4pp97.4%above the sector's middle half▲ 2.0pp97.1%above the sector's middle half▼ 0.3pp96.4%above the sector's middle half▼ 0.7pp96.3%above the sector's middle half▼ 0.1pp99.7%above the sector's middle half▲ 3.4pp
Current ratio16.76-45.32▲ 28.5620.96above the sector's middle half▼ 24.3637.04above the sector's middle half▲ 16.0833.53above the sector's middle half▼ 3.5125.33above the sector's middle half▼ 8.2124.09above the sector's middle half▼ 1.24
Return on assets (ROA)11.9%-8.6%▼ 3.3pp8.7%within the sector's middle half=8.4%within the sector's middle half▼ 0.3pp0.8%within the sector's middle half▼ 7.6pp5.2%within the sector's middle half▲ 4.4pp-0.3%below the sector's middle half▼ 5.5pp-5.6%below the sector's middle half▼ 5.3pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €12,492, after a profit of €524 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225,853
Fixed assets
€16,827 ▼ 42.1%
Current assets
€209,026 ▼ 4.1%
Equity and liabilities €225,853
Equity
€225,271 ▼ 5.3%
Debt
€581 ▼ 93.6%
Debt's share of the balance-sheet total falls from 3.7% to 0.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€236▼
2024 · €11,725
Cash flow
-€326▼
2024 · €10,422
Debt to equity
0.00▼
2024 · 0.04
ROE
-5.6%▼
2024 · -0.3%
Interest coverage
-1.82▼
2024 · over 100
Debt ≤ 1 year
€581▼
2024 · €9,045
A ratio outside any meaningful range has been withheld (balance sheet total €225,853, equity €225,271).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,250 | - | €28,242 | €16,147 | - |
| Depreciation and write-downs of the year | €1,314 | €1,531 | €10,567 | €11,201 | €12,255 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,683 | €1,969 | €2,216 | €1,314 | €1,531 | €10,567 | €11,201 | €12,255 | ▲ 9.4% |
| Other operating charges640/8 | - | - | - | €7,007 | €10,205 | €1,515 | €1,547 | €32 | ▼ 98.0% |
| Gross operating margin9900 | €36,848 | €28,891 | €32,794 | €35,809 | €14,957 | €32,415 | €13,272 | -€205 | - |
| Operating profit (loss)9901 | €27,410 | €23,178 | €26,125 | €27,488 | €3,220 | €20,333 | €524 | -€12,492 | - |
| Financial income75/76B | - | - | - | €0 | €0 | €20 | - | €41 | - |
| Recurring financial income75 | €8,658 | - | €0 | €0 | €0 | €20 | - | €41 | - |
| Financial charges65/66B | - | - | - | €145 | €179 | €155 | €93 | €130 | ▲ 40.5% |
| Recurring financial charges65 | €138 | €176 | €129 | €145 | €179 | €155 | €93 | €130 | ▲ 40.5% |
| Profit (loss) for the period before taxes9903 | €35,929 | €23,002 | €25,995 | €27,343 | €3,042 | €20,199 | €431 | -€12,581 | - |
| Income taxes67/77 | €14,496 | €6,589 | €7,406 | €7,984 | €1,181 | €7,345 | €1,211 | - | - |
| Profit (loss) for the period9904 | €21,433 | €16,413 | €18,590 | €19,359 | €1,861 | €12,854 | -€780 | -€12,581 | ▼ 1,514% |
| Profit (loss) for the period to be appropriated9905 | €21,433 | €16,413 | €18,590 | €19,359 | €1,861 | €12,854 | -€780 | -€12,581 | ▼ 1,514% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €179,886 | €190,057 | €214,401 | €229,907 | €232,519 | €247,449 | €246,955 | €225,853 | ▼ 8.5% |
| Formation expenses20 | - | - | - | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €6,752 | €4,783 | €8,056 | €7,992 | €6,461 | €24,136 | €29,082 | €16,827 | ▼ 42.1% |
| Tangible fixed assets22/27 | €6,752 | €4,783 | €8,056 | €7,992 | €6,461 | €24,136 | €29,082 | €16,827 | ▼ 42.1% |
| Land and buildings22 | - | - | - | €2,757 | €2,642 | €2,527 | €18,132 | €16,402 | ▼ 9.5% |
| Plant, machinery and equipment23 | - | - | - | €5,063 | €3,819 | €2,574 | €1,330 | €218 | ▼ 83.6% |
| Furniture and vehicles24 | - | - | - | €172 | - | €19,034 | €9,620 | €206 | ▼ 97.9% |
| Current assets29/58 | €173,134 | €185,274 | €206,345 | €221,915 | €226,058 | €223,313 | €217,873 | €209,026 | ▼ 4.1% |
| Stocks and contracts in progress3 | - | - | - | - | - | €1,458 | - | - | - |
| Contracts in progress37 | - | - | - | - | - | €1,458 | - | - | - |
| Amounts receivable within one year40/41 | €162,207 | €178,823 | €185,889 | €205,397 | €220,699 | €181,340 | €216,894 | €208,324 | ▼ 4.0% |
| Trade receivables40 | - | - | - | €47,973 | €46,427 | €33,403 | €34,949 | - | - |
| Other amounts receivable41 | - | - | - | €157,424 | €174,272 | €147,937 | €181,945 | €208,324 | ▲ 14.5% |
| Cash at bank and in hand54/58 | €9,903 | €4,831 | €19,363 | €15,075 | €5,150 | €39,193 | €917 | €702 | ▼ 23.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1,444 | €209 | €1,322 | €62 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €179,886 | €190,057 | €214,401 | €229,907 | €232,519 | €247,449 | €246,955 | €225,853 | ▼ 8.5% |
| Equity10/15 | €169,555 | €185,968 | €204,558 | €223,917 | €225,778 | €238,632 | €237,853 | €225,271 | ▼ 5.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €6,200 | - | - | - |
| Other1109/19 | - | - | - | - | - | €6,200 | - | - | - |
| Reserves13 | €163,355 | €179,768 | €198,358 | €217,717 | €219,578 | €232,432 | €231,653 | €219,071 | ▼ 5.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €215,857 | €217,718 | €230,572 | €229,793 | €217,211 | ▼ 5.5% |
| Amounts payable17/49 | €10,331 | €4,088 | €9,843 | €5,991 | €6,741 | €8,817 | €9,102 | €581 | ▼ 93.6% |
| Amounts payable within one year42/48 | €10,331 | €4,088 | €9,843 | €5,991 | €6,741 | €8,817 | €9,045 | €581 | ▼ 93.6% |
| Trade debts44 | €325 | €1,315 | €1,959 | €1,601 | €1,170 | €1,471 | €490 | €581 | ▲ 18.6% |
| Suppliers440/4 | - | - | - | €1,601 | €1,170 | €1,471 | €490 | €581 | ▲ 18.6% |
| Taxes, remuneration and social security45 | - | - | - | €4,390 | €5,571 | €7,345 | €8,555 | - | - |
| Taxes450/3 | - | - | - | €4,390 | €5,571 | €7,345 | €8,555 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €57 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,433 | €16,413 | €18,590 | €19,359 | €1,861 | €12,854 | -€780 | -€12,581 | ▼ 1,514% |
| + Depreciation and write-downs630 | €2,683 | €1,969 | €2,216 | €1,314 | €1,531 | €10,567 | €11,201 | €12,255 | ▲ 9.4% |
| Operating cash flow (approximation) | €24,115 | €18,383 | €20,806 | €20,672 | €3,393 | €23,421 | €10,422 | -€326 | - |
| Investment in fixed assets (approximation) | - | €0 | -€5,489 | -€1,250 | €0 | -€28,242 | -€16,147 | €0 | - |
| Change in cash | - | -€5,072 | €14,532 | -€4,288 | -€9,924 | €34,043 | -€38,276 | -€215 | ▲ 99.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as LEVI has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LEVI itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for LEVI. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00151363 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00419734 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00207964 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00189065 | |
| 31-12-2021 | micro format | 19-08-2022 | 2022-20307604 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-28300098 | |
| 31-12-2019 | micro format | 07-08-2020 | 2020-40200416 | |
| 31-12-2018 | micro format | 20-08-2019 | 2019-48100405 | |
| 31-12-2017 | micro format | 13-08-2018 | 2018-45600579 | |
| 31-12-2016 | micro format | 11-09-2017 | 2017-60600338 |