LIETAR LOCATION
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 5 filings
Turnover
≈ €6.4m
Estimated: probably between €4.3m and €10.0m
EBIT margin
Not included in this filing
Net result
€402,335▼ 23.8%
2024 · €527,953
Working capital
€101,538▼ 0.1%
2024 · €101,637
In the rankings
#4 company by total assets in La Louvière, Administrative and support services sector#4 company by equity in La Louvière, Administrative and support services sector#7 employer in Hainaut, Rental and leasing sector
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€637,039
▼ 21.9%
2025
20212025
Net result
€402,335
▼ 23.8%
2025
middle half of the sector
20212025
Equity
€1.7m
=
2025
middle half of the sector
20212025
Total assets
€4.8m
▲ 5.9%
2025
middle half of the sector
20212025
Debt
€3.2m
▲ 9.2%
2025
20212025
Working capital
€101,538
▼ 0.1%
2025
middle half of the sector
20212025
Solvency
34.2%
▼ 2.0pp
2025
middle half of the sector
20212025
Current ratio
1.05
▼ 0.01
2025
middle half of the sector
20212025
Return on assets (ROA)
8.3%
▼ 3.2pp
2025
highest quarter of the sector
20212025
Staff (FTE)
26.3
▲ 5.2%
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.8m-€0.6m▼ 21.7%€0.9m▲ 42.8%€0.8m▼ 7.3%€0.6m▼ 21.9%
Net result€0.6mabove the sector's middle half-€0.4mabove the sector's middle half▼ 23.3%€0.6mabove the sector's middle half▲ 37.2%€0.5mabove the sector's middle half▼ 10.9%€0.4mwithin the sector's middle half▼ 23.8%
Equity€1.3mwithin the sector's middle half-€1.6mwithin the sector's middle half▲ 21.8%€1.6mwithin the sector's middle half▲ 1.2%€1.7mwithin the sector's middle half▲ 0.3%€1.7mwithin the sector's middle half=
Total assets€4.6mwithin the sector's middle half-€5.0mwithin the sector's middle half▲ 7.8%€5.0mwithin the sector's middle half▲ 1.2%€4.6mwithin the sector's middle half▼ 9.2%€4.8mwithin the sector's middle half▲ 5.9%
Debt€3.3m-€3.3m▲ 2.1%€3.4m▲ 1.2%€2.9m▼ 13.9%€3.2m▲ 9.2%
Working capital-€0.2mbelow the sector's middle half--€0.3mbelow the sector's middle half▼ 18.6%-€0.5mbelow the sector's middle half▼ 109%€0.1mwithin the sector's middle half€0.1mwithin the sector's middle half▼ 0.1%
Solvency29.0%within the sector's middle half-32.8%within the sector's middle half▲ 3.8pp32.8%within the sector's middle half=36.2%within the sector's middle half▲ 3.4pp34.2%within the sector's middle half▼ 2.0pp
Current ratio0.90within the sector's middle half-0.88within the sector's middle half▼ 0.020.77within the sector's middle half▼ 0.111.05within the sector's middle half▲ 0.281.05within the sector's middle half▼ 0.01
Return on assets (ROA)12.2%above the sector's middle half-8.7%within the sector's middle half▼ 3.5pp11.8%above the sector's middle half▲ 3.1pp11.6%above the sector's middle half▼ 0.2pp8.3%above the sector's middle half▼ 3.2pp
Staff (FTE)17within the sector's middle half-20within the sector's middle half▲ 17.6%22.9within the sector's middle half▲ 14.5%25within the sector's middle half▲ 9.2%26.3within the sector's middle half▲ 5.2%
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). 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 22% lower than in 2024. It is the second fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.8m
Fixed assets
€2.6m ▲ 2.0%
Current assets
€2.3m ▲ 10.6%
Equity and liabilities €4.8m
Equity
€1.7m =
Debt
€3.2m ▲ 9.2%
Debt's share of the balance-sheet total rises from 63.8% to 65.8%. Debt is higher.
Key figures and ratios
EBITDA
€2.1m▼
2024 · €2.3m
Cash flow
€1.8m▼
2024 · €2.0m
Quick ratio
0.71▲
2024 · 0.60
Debt to equity
1.92▲
2024 · 1.76
ROE
24.3%▼
2024 · 31.9%
Interest coverage
23.33▲
2024 · 23.02
Debt ≤ 1 year
€2.2m▲
2024 · €2.0m
Debt > 1 year
€1.0m▲
2024 · €955,494
Income taxes
€148,030▼
2024 · €188,320
Staff costs
€1.6m▲
2024 · €1.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 17 | 22 | 23 | 25 | 28 |
| full-time | 17 | 22 | 20 | 22 | 26 |
| part-time | - | 0 | 3 | 3 | 2 |
| in full-time equivalents | 17 | 22 | 21.5 | 24.4 | 27.7 |
| Average over the year, in full-time equivalents | 17 | 20 | 22.9 | 25 | 26.3 |
| On a permanent contract | 15 | 14 | 18 | 18 | 24 |
| Joined | 20 | 9 | 4 | 13 | 12 |
| Left | 3 | 4 | 3 | 11 | 9 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.9m | €2.0m | €1.3m | €1.3m | €1.8m |
| Carrying value of the other pledged assets | €2.4m | €2.8m | €3.0m | €2.3m | €2.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10.3m | €1.8m | €1.8m | €874,248 | €1.5m |
| Depreciation and write-downs of the year | €1.3m | €1.4m | €1.4m | €1.5m | €1.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0.3m | €0.2m | €0.4m | €0.4m | €0.5m | ▲ 25.6% |
| Remuneration, social security and pensions62 | €0.9m | €1.1m | €1.3m | €1.5m | €1.6m | ▲ 9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.3m | €1.4m | €1.4m | €1.5m | €1.4m | ▼ 2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0.05m | €0.05m | -€0.05m | €0.08m | -€0.02m | - |
| Other operating charges640/8 | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 7.0% |
| Non-recurring operating charges66A | €0.008m | €0.04m | €0.1m | €0.07m | €0.03m | ▼ 58.3% |
| Gross operating margin9900 | €3.1m | €3.2m | €3.7m | €3.9m | €3.7m | ▼ 5.7% |
| Operating profit (loss)9901 | €0.8m | €0.6m | €0.9m | €0.8m | €0.6m | ▼ 21.9% |
| Financial income75/76B | €0.001m | €301 | €300 | €119 | €0.003m | ▲ 22× |
| Recurring financial income75 | €0.001m | €301 | €300 | €119 | €0.003m | ▲ 22× |
| Financial charges65/66B | €0.03m | €0.03m | €0.07m | €0.1m | €0.09m | ▼ 10.5% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.07m | €0.1m | €0.09m | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €0.8m | €0.6m | €0.8m | €0.7m | €0.6m | ▼ 23.2% |
| Income taxes67/77 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 21.4% |
| Profit (loss) for the period9904 | €0.6m | €0.4m | €0.6m | €0.5m | €0.4m | ▼ 23.8% |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.4m | €0.6m | €0.5m | €0.4m | ▼ 23.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €5.0m | €5.0m | €4.6m | €4.8m | ▲ 5.9% |
| Fixed assets21/28 | €2.6m | €3.0m | €3.2m | €2.5m | €2.6m | ▲ 2.0% |
| Tangible fixed assets22/27 | €2.6m | €3.0m | €3.2m | €2.5m | €2.6m | ▲ 2.0% |
| Plant, machinery and equipment23 | €2.4m | €2.8m | €3.0m | €2.3m | €2.4m | ▲ 3.1% |
| Furniture and vehicles24 | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.4% |
| Other tangible fixed assets26 | €0.06m | €0.05m | €0.06m | €0.05m | €0.04m | ▼ 19.9% |
| Assets under construction and advance payments27 | €0.005m | €0.02m | €0 | - | - | - |
| Current assets29/58 | €2.0m | €2.0m | €1.8m | €2.1m | €2.3m | ▲ 10.6% |
| Stocks and contracts in progress3 | €0.3m | €0.6m | €0.9m | €0.9m | €0.7m | ▼ 16.2% |
| Stocks30/36 | €0.3m | €0.6m | €0.9m | €0.9m | €0.7m | ▼ 16.2% |
| Amounts receivable within one year40/41 | €1.1m | €0.6m | €0.7m | €0.8m | €0.9m | ▲ 13.1% |
| Trade receivables40 | €0.6m | €0.6m | €0.7m | €0.8m | €0.8m | ▲ 9.5% |
| Other amounts receivable41 | €0.6m | €0.02m | €0.01m | €0.01m | €0.04m | ▲ 203% |
| Cash at bank and in hand54/58 | €0.6m | €0.7m | €0.2m | €0.3m | €0.6m | ▲ 124% |
| Deferred charges and accrued income490/1 | €0.07m | €0.09m | €0.09m | €0.2m | €0.08m | ▼ 44.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €5.0m | €5.0m | €4.6m | €4.8m | ▲ 5.9% |
| Equity10/15 | €1.3m | €1.6m | €1.6m | €1.7m | €1.7m | = |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Non-distributable reserves130/1 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €0.5m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Amounts payable17/49 | €3.3m | €3.3m | €3.4m | €2.9m | €3.2m | ▲ 9.2% |
| Amounts payable after more than one year17 | €1.0m | €1.1m | €1.0m | €1.0m | €1.0m | ▲ 5.2% |
| Financial debts170/4 | €1.0m | €1.1m | €0.7m | €0.8m | €1.0m | ▲ 29.6% |
| Other amounts payable178/9 | - | - | €0.3m | €0.2m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €2.3m | €2.3m | €2.4m | €2.0m | €2.2m | ▲ 11.2% |
| Current portion of amounts payable after more than one year42 | €0.9m | €0.9m | €0.7m | €0.6m | €0.8m | ▲ 32.3% |
| Trade debts44 | €0.8m | €0.5m | €0.7m | €0.4m | €0.3m | ▼ 26.8% |
| Suppliers440/4 | €0.8m | €0.5m | €0.7m | €0.4m | €0.3m | ▼ 26.8% |
| Taxes, remuneration and social security45 | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | ▼ 11.5% |
| Taxes450/3 | €0.09m | €0.06m | €0.2m | €0.2m | €0.1m | ▼ 40.0% |
| Remuneration and social security454/9 | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 20.9% |
| Other amounts payable47/48 | €0.3m | €0.7m | €0.7m | €0.6m | €0.8m | ▲ 29.7% |
| Accrued charges and deferred income492/3 | €0.001m | €0.001m | €0.001m | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | €0.4m | €0.6m | €0.5m | €0.4m | ▼ 23.8% |
| + Depreciation and write-downs630 | €1.3m | €1.4m | €1.4m | €1.5m | €1.4m | ▼ 2.4% |
| Operating cash flow (approximation) | €1.8m | €1.9m | €2.0m | €2.0m | €1.8m | ▼ 8.0% |
| Investment in fixed assets (approximation) | - | -€1.8m | -€1.6m | -€0.8m | -€1.5m | ▼ 84.8% |
| Change in cash | - | €0.1m | -€0.5m | €0.09m | €0.3m | ▲ 251% |
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, 6,782 companies had the same profile as LIETAR LOCATION has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of LIETAR LOCATION itself: 0.3% 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 6,782 companies, not a prediction for LIETAR LOCATION. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-06-2026 | 2026-00187081 | |
| 31-12-2024 | full format | 23-07-2025 | 2025-00311763 | |
| 31-12-2023 | full format | 24-07-2024 | 2024-00297706 | |
| 31-12-2022 | full format | 31-07-2023 | 2023-00295973 | |
| 31-12-2021 | full format | 13-07-2022 | 2022-20180105 |