LIGHT CONCEPT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 21 filings
Turnover
≈ €64,000
Estimated: probably between €42,000 and €130,000
Total assets
€12,205▼ 35.5%
2024 · €18,911
Net result
-€78
2024 · €6,553
Working capital
-€32,986▲ 13.4%
2024 · -€38,084
In the rankings
#8 oldest company in Wezembeek-Oppem, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1,161
▼ 88.7%
2025
20182025
Net result
-€78
2025
lowest quarter of the sector
20182025
Equity
-€27,698
▼ 0.3%
2025
lowest quarter of the sector
20182025
Total assets
€12,205
▼ 35.5%
2025
lowest quarter of the sector
20182025
Debt
€36,903
▼ 15.2%
2025
20182025
Working capital
-€32,986
▲ 13.4%
2025
lowest quarter of the sector
20182025
Solvency
-226.9%
▼ 80.9pp
2025
lowest quarter of the sector
20182025
Current ratio
0.11
▼ 0.02
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-0.6%
▼ 35.3pp
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€1,692--€2,370€7,573-€4,421€4,975-€10€10,266€1,161▼ 88.7%
Net result€361--€2,429€5,902within the sector's middle half-€4,466below the sector's middle half€4,701within the sector's middle half-€914below the sector's middle half€6,553within the sector's middle half-€78below the sector's middle half
Equity-€36,967--€39,396▼ 6.6%-€33,494below the sector's middle half▲ 15.0%-€37,960below the sector's middle half▼ 13.3%-€33,259below the sector's middle half▲ 12.4%-€34,173below the sector's middle half▼ 2.7%-€27,620below the sector's middle half▲ 19.2%-€27,698below the sector's middle half▼ 0.3%
Total assets€5,030-€8,546▲ 69.9%€3,469below the sector's middle half▼ 59.4%€3,350below the sector's middle half▼ 3.5%€4,075below the sector's middle half▲ 21.6%€5,000below the sector's middle half▲ 22.7%€18,911below the sector's middle half▲ 278%€12,205below the sector's middle half▼ 35.5%
Debt€38,997-€44,942▲ 15.2%€33,963▼ 24.4%€38,310▲ 12.8%€34,334▼ 10.4%€36,173▲ 5.4%€43,530▲ 20.3%€36,903▼ 15.2%
Working capital-€35,059--€38,335▼ 9.3%-€31,971below the sector's middle half▲ 16.6%-€8,715below the sector's middle half▲ 72.7%€745below the sector's middle half€1,351below the sector's middle half▲ 81.4%-€38,084below the sector's middle half-€32,986below the sector's middle half▲ 13.4%
Solvency-734.9%--461.0%▲ 273.9pp-683.4%below the sector's middle half-146.1%below the sector's middle half▲ 537.4pp-226.9%below the sector's middle half▼ 80.9pp
Current ratio0.10-0.15▲ 0.051.51within the sector's middle half0.13below the sector's middle half▼ 1.380.11below the sector's middle half▼ 0.02
Return on assets (ROA)7.2%--28.4%▼ 35.6pp-18.3%below the sector's middle half34.7%above the sector's middle half▲ 52.9pp-0.6%below the sector's middle half▼ 35.3pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 89% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12,205
Fixed assets
€8,288 ▼ 38.4%
Current assets
€3,917 ▼ 28.1%
Equity and liabilities
Equity-€27,698
Debt€36,903
Equity is negative. Debt (€36,903) exceeds the balance-sheet total (€12,205).
Key figures and ratios
EBITDA
€6,336▼
2024 · €12,048
Cash flow
€5,098▼
2024 · €8,334
Interest coverage
36.54▲
2024 · 27.22
Debt ≤ 1 year
€36,903▼
2024 · €43,530
Income taxes
€1,068▼
2024 · €3,390
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | - | - | €1,263 | €14,264 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €463 | €463 | €376 | €1,781 | €5,176 |
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 | €587 | €394 | €463 | €463 | €463 | €376 | €1,781 | €5,176 | ▲ 191% |
| Other operating charges640/8 | - | - | - | €250 | €2,295 | €1,254 | €1,431 | €1,393 | ▼ 2.6% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,079 | €0 | - | - |
| Gross operating margin9900 | €3,678 | -€1,346 | €6,578 | -€3,709 | €7,733 | €3,698 | €13,478 | €7,730 | ▼ 42.7% |
| Operating profit (loss)9901 | €1,692 | -€2,370 | €7,573 | -€4,421 | €4,975 | -€10 | €10,266 | €1,161 | ▼ 88.7% |
| Financial income75/76B | - | - | - | - | €28 | €30 | €119 | €3 | ▼ 97.1% |
| Recurring financial income75 | €26 | - | €1 | - | €28 | €30 | €119 | €3 | ▼ 97.1% |
| Financial charges65/66B | - | - | - | €45 | €302 | €434 | €443 | €173 | ▼ 60.8% |
| Recurring financial charges65 | €205 | €60 | €293 | €45 | €302 | €434 | €443 | €173 | ▼ 60.8% |
| Profit (loss) for the period before taxes9903 | €1,513 | -€2,429 | €7,281 | -€4,466 | €4,701 | -€414 | €9,943 | €991 | ▼ 90.0% |
| Income taxes67/77 | €1,152 | - | €1,379 | - | - | €500 | €3,390 | €1,068 | ▼ 68.5% |
| Profit (loss) for the period9904 | €361 | -€2,429 | €5,902 | -€4,466 | €4,701 | -€914 | €6,553 | -€78 | - |
| Profit (loss) for the period to be appropriated9905 | €361 | -€2,429 | €5,902 | -€4,466 | €4,701 | -€914 | €6,553 | -€78 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5,030 | €8,546 | €3,469 | €3,350 | €4,075 | €5,000 | €18,911 | €12,205 | ▼ 35.5% |
| Fixed assets21/28 | €1,093 | €1,939 | €1,477 | €1,014 | €551 | €981 | €13,464 | €8,288 | ▼ 38.4% |
| Tangible fixed assets22/27 | €1,068 | €1,914 | €1,452 | €989 | €526 | €956 | €13,439 | €8,263 | ▼ 38.5% |
| Plant, machinery and equipment23 | - | - | - | €610 | €458 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €379 | €69 | €956 | €13,439 | €8,263 | ▼ 38.5% |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €3,938 | €6,607 | €1,993 | €2,336 | €3,523 | €4,019 | €5,446 | €3,917 | ▼ 28.1% |
| Amounts receivable within one year40/41 | €3,909 | €6,564 | €1,061 | €1,398 | €584 | €1,011 | €2,437 | €1,306 | ▼ 46.4% |
| Trade receivables40 | - | - | - | €675 | €392 | €821 | €1,325 | €1,224 | ▼ 7.6% |
| Other amounts receivable41 | - | - | - | €723 | €191 | €189 | €1,112 | €83 | ▼ 92.6% |
| Cash at bank and in hand54/58 | €28 | €43 | €932 | €332 | €2,399 | €2,337 | €2,406 | €1,916 | ▼ 20.3% |
| Deferred charges and accrued income490/1 | - | - | - | €606 | €541 | €671 | €604 | €694 | ▲ 14.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5,030 | €8,546 | €3,469 | €3,350 | €4,075 | €5,000 | €18,911 | €12,205 | ▼ 35.5% |
| Equity10/15 | -€36,967 | -€39,396 | -€33,494 | -€37,960 | -€33,259 | -€34,173 | -€27,620 | -€27,698 | ▼ 0.3% |
| Contributions10/11 | €13,640 | €13,640 | - | €13,640 | €13,640 | €13,640 | €13,640 | €13,640 | = |
| Reserves13 | €12,321 | €12,321 | €12,321 | €12,321 | €12,321 | €12,321 | €12,321 | €12,321 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €10,461 | €10,461 | €10,461 | €10,461 | €10,461 | = |
| Profit (loss) carried forward14 | -€62,928 | -€65,358 | -€59,456 | -€63,922 | -€59,220 | -€60,134 | -€53,581 | -€53,659 | ▼ 0.1% |
| Provisions and deferred taxes16 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Pensions and similar obligations160 | - | - | - | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Amounts payable17/49 | €38,997 | €44,942 | €33,963 | €38,310 | €34,334 | €36,173 | €43,530 | €36,903 | ▼ 15.2% |
| Amounts payable after more than one year17 | - | - | - | €27,259 | €31,555 | €33,505 | €0 | - | - |
| Other amounts payable178/9 | - | - | - | €27,259 | €31,555 | €33,505 | €0 | - | - |
| Amounts payable within one year42/48 | €38,997 | €44,942 | €33,963 | €11,050 | €2,778 | €2,668 | €43,530 | €36,903 | ▼ 15.2% |
| Trade debts44 | €10,068 | €14,459 | €9,604 | €11,050 | €2,778 | €2,668 | €6,039 | €2,574 | ▼ 57.4% |
| Suppliers440/4 | - | - | - | €11,050 | €2,778 | €2,668 | €6,039 | €2,574 | ▼ 57.4% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €652 | €1,267 | ▲ 94.4% |
| Taxes450/3 | - | - | - | - | - | - | €652 | €1,267 | ▲ 94.4% |
| Other amounts payable47/48 | - | - | - | - | - | - | €36,840 | €33,062 | ▼ 10.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €361 | -€2,429 | €5,902 | -€4,466 | €4,701 | -€914 | €6,553 | -€78 | - |
| + Depreciation and write-downs630 | €587 | €394 | €463 | €463 | €463 | €376 | €1,781 | €5,176 | ▲ 191% |
| Operating cash flow (approximation) | €948 | -€2,036 | €6,365 | -€4,003 | €5,164 | -€538 | €8,334 | €5,098 | ▼ 38.8% |
| Investment in fixed assets (approximation) | - | -€1,241 | €0 | €0 | €0 | -€805 | -€14,264 | €0 | - |
| Change in cash | - | €15 | €889 | -€600 | €2,067 | -€62 | €69 | -€490 | - |
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, 2,796 companies had the same profile as LIGHT CONCEPT has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
90.4%
was still going
6.0%
stopped otherwise
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LIGHT CONCEPT itself: 0.8% 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 2,796 companies, not a prediction for LIGHT CONCEPT. 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 | 28-07-2026 | 2026-00370598 | |
| 31-12-2024 | micro format | 08-09-2025 | 2025-00489856 | |
| 31-12-2023 | micro format | 10-10-2024 | 2024-00502684 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00393660 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20420173 | |
| 31-12-2020 | micro format | 15-09-2021 | 2021-67700144 | |
| 31-12-2019 | micro format | 28-07-2020 | 2020-35500497 | |
| 31-12-2018 | micro format | 06-09-2019 | 2019-64000243 | |
| 31-12-2017 | micro format | 11-09-2018 | 2018-62900455 | |
| 31-12-2016 | micro format | 04-08-2017 | 2017-41600103 |