Ligna
ActiveLigna has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.05M and a net result of €865k. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 49% of 4827 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
94
/ 100
Excellent▼ -6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▼-4
Solvency90=
Growth64=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290k at 30 days acceptable
Liquidity ample (current ratio 2.14 against 2.16 in 2024), but 55% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45%
Return on assets
12.8%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
37 d early
2023
49 d early
2022
41 d early
2021
72 d early
2020
110 d late
2019
5 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€11.39M▲ 3.3%
2024 · €11.02M
2018: €10.31M
2019: €9.80M
2020: €8.16M
2021: €11.18M
2022: €12.57M
2023: €10.88M
2024: €11.02M
2018 → 2025
EBIT margin
10.9%▼ 1.2pp
2024 · 12.1%
2018: 2.7%
2019: 1.4%
2020: 5.9%
2021: 15.8%
2022: 13.2%
2023: 10.3%
2024: 12.1%
2018 → 2025
Net result
€865k▼ 7.9%
2024 · €939k
2018: €-316k
2019: €14k
2020: €282k
2021: €1.27M
2022: €1.20M
2023: €776k
2024: €939k
2018 → 2025
Working capital
€3.26M▲ 4.0%
2024 · €3.13M
2018: €2.87M
2019: €2.76M
2020: €2.80M
2021: €3.40M
2022: €3.42M
2023: €3.67M
2024: €3.13M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€11.18M-€12.57M▲ 12.4%€10.88M▼ 13.4%€11.02M▲ 1.3%€11.39M▲ 3.3%
Equity€2.09M-€2.44M▲ 16.8%€2.89M▲ 18.5%€2.98M▲ 3.1%€3.05M▲ 2.2%
Operating result€1.77M-€1.66M▼ 6.4%€1.12M▼ 32.1%€1.33M▲ 18.3%€1.24M▼ 6.7%
Net result€1.27M-€1.20M▼ 5.7%€776k▼ 35.4%€939k▲ 21.0%€865k▼ 7.9%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 7% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.78M
Fixed assets
€652k▼ 8.3%
Current assets
€6.12M▲ 4.9%
Equity and liabilities €6.78M
Equity
€3.05M▲ 2.2%
Debt
€3.73M▲ 4.5%
The debt ratio rises from 54.5% to 55.0%: debt grows faster than equity.
Key figures and ratios
EBITDA
€1.43M▼
2024 · €1.54M
Cash flow
€1.06M▼
2024 · €1.15M
Solvency
45.0%▼
2024 · 45.5%
Current ratio
2.14▼
2024 · 2.16
Quick ratio
1.64▼
2024 · 1.71
Debt / equity
1.22▲
2024 · 1.20
ROE
28.4%▼
2024 · 31.5%
ROA
12.8%▼
2024 · 14.3%
Interest coverage
23.70▲
2024 · 21.32
Debt
€3.73M▲
2024 · €3.57M
Debt ≤ 1 year
€2.87M▲
2024 · €2.71M
Debt > 1 year
€860k▲
2024 · €856k
Income taxes
€322k▼
2024 · €342k
Staff costs
€1.27M▲
2024 · €1.20M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.55M€6.78M▲
Fixed assets21/28€711k€652k▼
Tangible fixed assets22/27€691k€632k▼
Land and buildings22€228k€183k▼
Plant, machinery and equipment23€75k€55k▼
Furniture and vehicles24€114k€138k▲
Other tangible fixed assets26€274k€256k▼
Financial fixed assets28€19k€19k=
Other financial fixed assets284/8€19k€19k=
Amounts receivable and cash guarantees285/8€19k€19k=
Current assets29/58€5.84M€6.12M▲
Amounts receivable after more than one year29€1.47M€1.65M▲
Other amounts receivable291€1.47M€1.65M▲
Stocks and contracts in progress3€1.20M€1.41M▲
Stocks30/36€1.20M€1.41M▲
Goods purchased for resale34€1.20M€1.41M▲
Amounts receivable within one year40/41€2.46M€2.46M▲
Trade receivables40€2.16M€2.43M▲
Other amounts receivable41€301k€33k▼
Cash at bank and in hand54/58€671k€569k▼
Deferred charges and accrued income490/1€43k€33k▼
Equity and liabilities
Total equity and liabilities10/49€6.55M€6.78M▲
Equity10/15€2.98M€3.05M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€2.92M€2.98M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€2.91M€2.98M▲
Amounts payable17/49€3.57M€3.73M▲
Amounts payable after more than one year17€856k€860k▲
Financial debts170/4€856k€860k▲
Credit institutions173€856k€860k▲
Amounts payable within one year42/48€2.71M€2.87M▲
Current portion of amounts payable after more than one year42€154k€210k▲
Financial debts43€125k€95k▼
Credit institutions430/8€125k€95k▼
Trade debts44€1.31M€1.51M▲
Suppliers440/4€1.31M€1.51M▲
Taxes, remuneration and social security45€266k€253k▼
Taxes450/3€114k€102k▼
Remuneration and social security454/9€152k€151k▼
Other amounts payable47/48€850k€800k▼
Accrued charges and deferred income492/3€6k€2k▼
Income statement
Code20242025
Operating income70/76A€11.29M€11.80M▲
Turnover70€11.02M€11.39M▲
Other operating income74€265k€301k▲
Non-recurring operating income76A€0€112k▲
Operating charges60/66A€9.96M€10.56M▲
Goods for resale, raw materials and consumables60€6.88M€7.27M▲
Purchases600/8€6.85M€7.48M▲
Change in stocks: decrease (increase)609€30k€-210k▼
Services and other goods61€1.64M€1.79M▲
Remuneration, social security and pensions62€1.20M€1.27M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€210k€191k▼
Other operating charges640/8€26k€37k▲
Operating profit (loss)9901€1.33M€1.24M▼
Financial income75/76B€31k€14k▼
Recurring financial income75€31k€14k▼
Income from current assets751€30k€14k▼
Other financial income752/9€945€217▼
Financial charges65/66B€81k€69k▼
Recurring financial charges65€81k€69k▼
Debt charges650€72k€60k▼
Other financial charges652/9€9k€9k▲
Profit (loss) for the period before taxes9903€1.28M€1.19M▼
Income taxes67/77€342k€322k▼
Taxes670/3€342k€365k▲
Tax adjustments and reversals of tax provisions77€0€43k▲
Profit (loss) for the period9904€939k€865k▼
Profit (loss) for the period to be appropriated9905€939k€865k▼
Appropriation of the result
Profit (loss) to be appropriated9906€939k€865k▼
Transfer to equity691/2€89k€65k▼
To other reserves6921€89k€65k▼
Profit to be distributed694/7€850k€800k▼
Return on contributions (dividend)694€850k€800k▼
Social balance
Average headcount (FTE)908715.816.0▲
The notes to these accounts (70 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €1.27M ▲352%
Operating result €1.77M, net result €1.27M, both a record.
31-12
Financial
Equity above €2MEq €2.09M ▲18.4%
3 profitable years in a row build equity to €2.09M.
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 110 days late
2020
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 5 days late
2019
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brecht · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Eikenlei 1702960 BrechtGround area
1.8 ha
Building footprint
4,285 m²
Volume, LiDAR
30,802 m³
Parcel 11042A0001/00M048, Flanders · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Eikenlei 170, 2960 Brecht
since 19982.038.955.242
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11042A0001/00M048 | Flanders | 1.8 ha | 1 · 4,285 m² | 11.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 63,811 EUR awarded · 63,811 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 9,726 EUR | 9,726 EUR |
| 2024 | 2 | 8,681 EUR | 8,681 EUR |
| 2023 | 1 | 23,208 EUR | 23,208 EUR |
| 2022 | 1 | 22,196 EUR | 22,196 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrecht2.038.955.242
Dual-learning approval
3 live approvalsMachinaal houtbewerker duaal (so)
Medewerker hout duaal (so)
Productiemedewerker industrie duaal (so)
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Of 664 companies in sector 16110 we hold annual accounts for 319. 165 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
16110Sawmilling and planing of wood
46832Wholesale of timber
02020
02400Forestry and logging
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.