LIGHTHOUSE INTELLIGENCE
Annual accounts 2025
full format, filed on 12-10-2026, 73 days lateTurnover
€95.8m
▲ 24.7%
Operating result
-€2.4m
▲ €10.9m
EBITDA
€12.0m
▲ €20.6m
Cash flow
€11.9m
▲ €20.6m
Solvency
-30.2%
▼ 7.4 percentage points
Current ratio
0.09
▼ 0.11
Money flows
of every €100 of turnover, €2.63 was lost in 2025Balance sheet
balance sheet total €36.1m on 31-12-2025What the company ownsHow it is paid for
Change in equityin €m
Change in cashin €m
Position in the sector
Solvency-30.2%
Higher than 12% of 1,686 companies in 2025.
Current ratio0.09
Lower than 95% of 1,653 companies in 2025.
Return on assets-7.0%
Higher than 22% of 1,668 companies in 2025.
LIGHTHOUSE INTELLIGENCE
Middle half of the sector
80% of the sector
Full accounts in computer programming and consultancy (NACE 62)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter
Staff
Men and women38% women
154.2 men and 94.2 women in full-time equivalents in 2025.
Staff cost per FTE€92,562
Men €95,303, women €88,075 per full-time equivalent. Jobs differ, so this is not a pay gap.
Joined and left+53
Agency workers: 0.5 on average.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
Total assets20/58 |
36.1m | 36.7m | 9.2m | 5.9m | 3.8m | 2.6m | 2.2m | 1.4m | |
Fixed assets21/28 |
31.8m | 27.3m | 8.0m | 5.2m | 3.0m | 2.4m | 1.5m | 1.1m | |
Intangible fixed assets21 |
30.4m | 9.7m | 6.8m | 4.1m | 2.9m | 2.2m | 1.3m | 828,259 | |
Tangible fixed assets22/27 |
1.1m | 1.2m | 1.2m | 1.1m | 172,933 | 181,004 | 258,201 | 302,989 | |
Furniture and vehicles24 |
749,781 | 847,274 | 780,264 | 587,076 | 147,528 | 97,786 | 117,171 | 104,147 | |
Other tangible fixed assets26 |
316,475 | 338,961 | 458,205 | 505,666 | 25,406 | 83,218 | 141,030 | 198,842 | |
Financial fixed assets28 |
322,343 | 16.5m | 21,440 | 5,960 | - | - | - | - | |
Affiliated companies280/1 |
0 | 16.5m | 21,440 | - | - | - | - | - | |
Participating interests280 |
0 | 16.2m | - | - | - | - | - | - | |
Amounts receivable281 |
0 | 283,206 | 21,440 | - | - | - | - | - | |
Other financial fixed assets284/8 |
322,343 | - | - | - | - | - | - | - | |
Amounts receivable and cash guarantees285/8 |
322,343 | - | - | - | - | - | - | - | |
Current assets29/58 |
4.3m | 9.3m | 1.2m | 761,657 | 759,940 | 202,874 | 659,139 | 263,126 | |
Amounts receivable after more than one year29 |
143,934 | - | - | - | - | - | - | 9,929 | |
Other amounts receivable291 |
143,934 | - | - | - | - | - | - | 9,929 | |
Amounts receivable within one year40/41 |
543,032 | 8.4m | 297,024 | 223,435 | 113,741 | 56,968 | 506,812 | 75,675 | |
Trade receivables40 |
- | 64,675 | 49,149 | - | - | - | 481,960 | 75,208 | |
Other amounts receivable41 |
543,032 | 8.3m | 247,875 | 223,435 | 113,741 | 56,968 | 24,852 | 467 | |
Cash at bank and in hand54/58 |
2.9m | 575,561 | 590,454 | 359,657 | 391,497 | 99,655 | 51,420 | 175,058 | |
Deferred charges and accrued income490/1 |
658,142 | 397,459 | 293,643 | 178,565 | 254,702 | 46,252 | 100,907 | 2,464 | |
| Balance sheet: equity and liabilities | |||||||||
Total equity and liabilities10/49 |
36.1m | 36.7m | 9.2m | 5.9m | 3.8m | 2.6m | 2.2m | 1.4m | |
Equity10/15 |
-10.9m | -8.4m | 2.6m | 1.9m | 1.3m | 859,394 | 650,067 | 451,977 | |
Contributions10/11 |
2.7m | 2.7m | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
Capital10 |
- | - | - | 200,000 | 200,000 | - | - | - | |
Issued capital100 |
- | - | - | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
Reserves13 |
17,452 | 17,452 | 17,452 | 17,452 | 17,452 | 17,452 | 17,452 | 15,145 | |
Non-distributable reserves130/1 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | - | |
Legal reserve130 |
- | - | - | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
Other1319 |
10,000 | 10,000 | 10,000 | - | - | - | - | - | |
Tax-exempt reserves132 |
7,452 | 7,452 | 7,452 | 7,452 | 7,452 | 7,452 | 7,452 | 5,145 | |
Profit (loss) carried forward14 |
-13.6m | -11.1m | 2.4m | 1.7m | 1.1m | 641,942 | 432,615 | 236,832 | |
Provisions and deferred taxes16 |
1.0m | 194,423 | 147,115 | 99,808 | 52,500 | 37,500 | 22,500 | 7,500 | |
Provisions for liabilities and charges160/5 |
1.0m | 194,423 | 147,115 | 99,808 | 52,500 | 37,500 | 22,500 | 7,500 | |
Major repairs and maintenance162 |
241,731 | 194,423 | 147,115 | 99,808 | 52,500 | - | - | - | |
Environmental obligations163 |
- | - | - | - | - | 37,500 | 22,500 | 7,500 | |
Other liabilities and charges164/5 |
764,185 | - | - | - | - | - | - | - | |
Amounts payable17/49 |
45.9m | 44.8m | 6.5m | 3.9m | 2.4m | 1.7m | 1.5m | 934,898 | |
Amounts payable within one year42/48 |
45.5m | 44.7m | 6.3m | 3.8m | 2.4m | 1.6m | 1.3m | 848,957 | |
Trade debts44 |
1.1m | 241,880 | 2.1m | 859,665 | 405,535 | 973,373 | 190,970 | 576,211 | |
Suppliers440/4 |
1.1m | 241,880 | 2.1m | 859,665 | 405,535 | 973,373 | 190,970 | 576,211 | |
Taxes, remuneration and social security45 |
3.4m | 3.6m | 2.7m | 1.5m | 607,824 | 460,916 | 688,446 | 272,746 | |
Taxes450/3 |
579,799 | 380,220 | 356,587 | 234,597 | 2,164 | 1,282 | 222,445 | 30,899 | |
Remuneration and social security454/9 |
2.9m | 3.3m | 2.4m | 1.2m | 605,661 | 459,634 | 466,001 | 241,847 | |
Other amounts payable47/48 |
41.0m | 40.8m | 1.5m | 1.5m | 1.3m | 142,042 | 469,702 | - | |
Accrued charges and deferred income492/3 |
399,385 | 90,337 | 134,392 | 84,761 | 82,286 | 97,478 | 156,802 | 85,941 | |
| Income statement | |||||||||
Operating income70/76A |
116.4m | 83.6m | 23.3m | - | - | - | - | - | |
Turnover70 |
95.8m | 76.8m | 17.6m | - | - | - | - | - | |
Own construction capitalised72 |
18.9m | 6.0m | 5.4m | - | - | - | - | - | |
Other operating income74 |
1.7m | 897,969 | 283,267 | - | - | - | - | - | |
Non-recurring operating income76A |
6,595 | - | - | - | - | - | - | - | |
Gross operating margin9900 |
- | - | - | 11.4m | 7.7m | 6.2m | 5.5m | 4.3m | |
Operating charges60/66A |
118.8m | 97.0m | 21.8m | - | - | - | - | - | |
Services and other goods61 |
80.2m | 74.9m | 4.0m | - | - | - | - | - | |
Remuneration, social security and pensions62 |
23.0m | 17.2m | 13.1m | 7.4m | 4.9m | 3.9m | 3.3m | 2.7m | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
14.4m | 4.7m | 4.3m | 2.8m | 2.1m | 1.8m | 1.7m | 1.3m | |
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 |
-20,185 | - | - | - | - | - | - | - | |
Provisions for liabilities and charges: additions (uses and reversals)635/8 |
811,493 | 47,308 | 47,308 | 47,308 | 15,000 | 15,000 | 15,000 | 7,500 | |
Other operating charges640/8 |
391,884 | 65,320 | 368,120 | 339,662 | 204,692 | 124,988 | 76,532 | 36,304 | |
Non-recurring operating charges66A |
16,741 | - | - | - | - | - | - | - | |
Operating profit (loss)9901 |
-2.4m | -13.3m | 1.4m | 818,457 | 529,591 | 373,476 | 371,315 | 285,507 | |
Financial income75/76B |
3.5m | 741 | 478 | 44 | 287 | 3 | - | 260 | |
Recurring financial income75 |
3.5m | 741 | 478 | 44 | 287 | 3 | - | 260 | |
Income from current assets751 |
2,227 | 676 | - | - | - | - | - | - | |
Other financial income752/9 |
3.5m | 65 | 478 | - | - | - | - | - | |
Financial charges65/66B |
3.4m | 88,571 | 26,815 | 18,350 | 18,888 | 19,652 | 14,154 | 9,857 | |
Recurring financial charges65 |
3.4m | 88,571 | 26,815 | 18,350 | 18,888 | 19,652 | 14,154 | 9,857 | |
Debt charges650 |
62,187 | 8,169 | - | - | - | - | - | - | |
Other financial charges652/9 |
3.4m | 80,403 | 26,815 | - | - | - | - | - | |
Non-recurring financial charges66B |
0 | - | - | - | - | - | - | - | |
Profit (loss) for the period before taxes9903 |
-2.4m | -13.4m | 1.4m | 800,151 | 510,990 | 353,827 | 357,162 | 275,910 | |
Income taxes67/77 |
133,193 | - | 689,746 | 222,447 | 63,529 | 144,500 | 159,071 | 23,933 | |
Taxes670/3 |
133,193 | - | 689,746 | - | - | - | - | - | |
Profit (loss) for the period9904 |
-2.5m | -13.4m | 691,670 | 577,704 | 447,461 | 209,327 | 198,090 | 251,977 | |
Transfer to tax-exempt reserves689 |
- | - | - | - | - | - | 2,307 | 5,145 | |
Profit (loss) for the period to be appropriated9905 |
-2.5m | -13.4m | 691,670 | 577,704 | 447,461 | 209,327 | 195,783 | 246,832 | |
| Appropriation of the result | |||||||||
Profit (loss) to be appropriated9906 |
-13.6m | -11.1m | 2.4m | 1.7m | 1.1m | 641,942 | 432,615 | 246,832 | |
Profit (loss) brought forward from the previous period14P |
-11.1m | 2.4m | 1.7m | 1.1m | 641,942 | - | - | - | |
Transfer to equity691/2 |
- | - | - | - | - | - | - | 10,000 | |
To the legal reserve6920 |
- | - | - | - | - | - | - | 10,000 | |
| Social balance sheet | |||||||||
Average staff (FTE)9087 |
248.4 | 178.9 | 146.8 | 99.6 | 67.3 | 58.8 | 47.1 | 32.4 | |
Men (FTE)1003 |
154.2 | 108 | 78 | - | - | - | - | - | |
Women (FTE)1003 |
94.2 | 70.9 | 68 | - | - | - | - | - | |
Agency workers1501 |
0.5 | - | 1 | - | - | - | - | - | |
Hours worked1013 |
402,027 | 284,956 | 242,993 | 163,635 | 111,841 | 96,128 | 78,305 | 71,148 | |
| Document | |||||||||
The notes to these accounts have 83 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-10-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 73 days after the deadline. Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00557739.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-10-2026 | 2026-00557739 | |
| 31-12-2024 | full format | 12-10-2026 | 2026-00557798 | |
| 31-12-2023 | full format | 25-07-2024 | 2024-00306003 | |
| 31-12-2022 | abbreviated format | 02-08-2023 | 2023-00306473 | |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20383293 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-64500211 | |
| 31-12-2019 | abbreviated format | 27-08-2020 | 2020-46000460 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-41300038 |
Subsidies and aid
Flemish government 2023 to 2024, 2 entries, €1,781 awarded, €1,781 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €162 | €162 |
| 2023 | 1 | €1,619 | €1,619 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 12.0m | -8.6m | 5.7m | 3.6m | 2.7m | 2.2m | 2.1m | 1.6m | |
| Cash flow | 11.9m | -8.7m | 5.0m | 3.4m | 2.6m | 2.0m | 1.9m | 1.5m | |
| Investment in fixed assets | 38.4m | 23.7m | 6.1m | 4.9m | 2.8m | 2.6m | 2.1m | 2.4m | |
| Change in cash | 2.4m | -14,892 | 230,796 | -31,839 | 291,842 | 48,235 | -123,637 | - | |
| Working capital | -41.2m | -35.4m | -5.2m | -3.1m | -1.6m | -1.4m | -689,979 | -585,830 | |
| EBIT margin | -2.5% | -17.4% | 8.0% | - | - | - | - | - | |
| Solvency | -30.2% | -22.8% | 28.0% | 31.9% | 34.4% | 33.4% | 29.8% | 32.4% | |
| Current ratio | 0.09 | 0.21 | 0.19 | 0.20 | 0.32 | 0.13 | 0.49 | 0.31 | |
| Debt to equity | - | - | 2.51 | 2.08 | 1.86 | 1.95 | 2.32 | 2.07 | |
| ROE | - | - | 26.8% | 30.7% | 34.2% | 24.4% | 30.5% | 55.7% | |
| ROA | -7.0% | -36.6% | 7.5% | 9.8% | 11.8% | 8.1% | 9.1% | 18.1% | |
| Interest coverage | over 100 | -1055.99 | over 100 | over 100 | over 100 | - | - | - | |
| Customer credit | 2 days | 0 days | 1 day | - | - | - | - | - | |
| Supplier credit | 5 days | 1 day | 190 days | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 252 | 199 | 159 | 128 | 78 |
| full-time | 229 | 187 | 147 | 118 | 70 |
| part-time | 23 | 12 | 12 | 10 | 8 |
| in full-time equivalents | 247.8 | 196.3 | 156.1 | 125.6 | 76.3 |
| Average over the year, in full-time equivalents | 248.4 | 178.9 | 146 | 99.6 | 67.3 |
| On a permanent contract | 251 | 198 | 157 | 128 | 78 |
| Joined | 85 | 62 | 55 | 67 | 32 |
| Left | 32 | 22 | 24 | 17 | 12 |
| Agency workers, average number | 0.5 | - | 1 | - | - |
| Training hours | - | 0 | 60 | 243 | 131 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €638,017 | €436,336 | €533,254 | €1.1m | €127,579 |
| Intangible fixed assets | €37.7m | €7.1m | €5.6m | €3.8m | €2.7m |
| Financial fixed assets | - | €16.2m | - | €5,960 | - |
| Depreciation and write-downs of the year | €14.4m | €4.7m | €4.3m | €2.8m | €2.1m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
feesThe auditor is GRANT THORNTON BEDRIJFSREVISOREN - REVISEURS D'ENTREPRISES.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €31,013 | €10,800 | €9,616 | - | - |
| Other work by the auditor | €3,050 | - | €4,783 | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Insights on LIGHTHOUSE INTELLIGENCE
The operating result for 2025 is a loss of €2.4m, smaller than the loss of €13.3m in 2024.
Equity is negative. Debt (€45.9m) exceeds the balance-sheet total (€36.1m).
Large changes and their cause
- 2025 Net result +81% on 2024. Merger absorbing Stardekk Holding BV, effective 01-01-2025.