LIGNA
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 30 filings
Amounts without an identifiable currency are taken as euros.
Turnover
€4.0m▲ 15.5%
2020 · €3.5m
EBIT margin
0.0%▼ 3.5pp
2020 · 3.6%
Net result
€196,347▼ 18.8%
2024 · €241,726
Working capital
€1.3m▲ 14.8%
2024 · €1.1m
In the rankings
#3 company by total assets in Dilsen-Stokkem, Transport and storage sector#3 company by equity in Dilsen-Stokkem, Transport and storage sector#3 oldest company in Dilsen-Stokkem, Transport and storage sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€208,600
▼ 24.6%
2025
20182025
Net result
€196,347
▼ 18.8%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€1.3m
▲ 18.1%
2025
middle half of the sector
20182025
Total assets
€3.2m
▲ 9.5%
2025
middle half of the sector
20182025
Debt
€1.9m
▲ 4.3%
2025
20182025
Working capital
€1.3m
▲ 14.8%
2025
middle half of the sector
20182025
Solvency
40.7%
▲ 3.0pp
2025
middle half of the sector
20182025
Current ratio
1.68
▲ 0.05
2025
middle half of the sector
20182025
Return on assets (ROA)
6.2%
▼ 2.2pp
2025
middle half of the sector
20182025
Staff (FTE)
9.4
▼ 2.1%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€2.5m-€3.1m▲ 21.2%€3.5m▲ 12.5%€4.0m▲ 15.5%
Operating result€0.02m-€0.004m▼ 81.3%€0.1m▲ 30×€0.001m▼ 99.0%€0.05m▲ 39×€0.4m▲ 811%€0.3m▼ 37.3%€0.2m▼ 24.6%
Net result€0.02m-€0.009m▼ 55.2%€0.1mwithin the sector's middle half▲ 960%€0.07mwithin the sector's middle half▼ 30.1%€0.05mwithin the sector's middle half▼ 31.9%€0.4mabove the sector's middle half▲ 644%€0.2mabove the sector's middle half▼ 31.2%€0.2mwithin the sector's middle half▼ 18.8%
EBIT margin0.9%-0.1%▼ 0.7pp3.6%▲ 3.4pp0.0%▼ 3.5pp
Equity€0.3m-€0.3m▲ 3.5%€0.4mwithin the sector's middle half▲ 36.0%€0.4mwithin the sector's middle half▲ 18.5%€0.5mwithin the sector's middle half▲ 10.6%€0.8mwithin the sector's middle half▲ 71.4%€1.1mwithin the sector's middle half▲ 28.7%€1.3mwithin the sector's middle half▲ 18.1%
Total assets€1.0m-€1.2m▲ 25.9%€1.8mwithin the sector's middle half▲ 44.9%€1.8mwithin the sector's middle half▲ 1.7%€1.9mwithin the sector's middle half▲ 4.0%€2.5mwithin the sector's middle half▲ 30.3%€2.9mwithin the sector's middle half▲ 16.0%€3.2mwithin the sector's middle half▲ 9.5%
Debt€0.7m-€1.0m▲ 34.3%€1.4m▲ 47.4%€1.4m▼ 2.7%€1.4m▲ 1.8%€1.6m▲ 16.0%€1.8m▲ 9.5%€1.9m▲ 4.3%
Working capital€0.3m-€0.4m▲ 17.0%€0.6mwithin the sector's middle half▲ 40.1%€0.7mwithin the sector's middle half▲ 21.1%€0.7mwithin the sector's middle half▼ 1.2%€0.9mabove the sector's middle half▲ 35.2%€1.1mabove the sector's middle half▲ 24.2%€1.3mwithin the sector's middle half▲ 14.8%
Solvency27.1%-22.2%▼ 4.8pp20.9%within the sector's middle half▼ 1.4pp24.3%within the sector's middle half▲ 3.4pp25.9%within the sector's middle half▲ 1.6pp34.0%within the sector's middle half▲ 8.2pp37.7%within the sector's middle half▲ 3.7pp40.7%within the sector's middle half▲ 3.0pp
Current ratio1.52-1.46▼ 0.051.44within the sector's middle half▼ 0.021.57within the sector's middle half▲ 0.131.53within the sector's middle half▼ 0.041.56within the sector's middle half▲ 0.031.62within the sector's middle half▲ 0.061.68within the sector's middle half▲ 0.05
Return on assets (ROA)2.1%-0.8%▼ 1.4pp5.5%within the sector's middle half▲ 4.8pp3.8%within the sector's middle half▼ 1.7pp2.5%within the sector's middle half▼ 1.3pp14.2%above the sector's middle half▲ 11.7pp8.4%within the sector's middle half▼ 5.8pp6.2%within the sector's middle half▼ 2.2pp
Staff (FTE)13.3-13.8▲ 3.8%13.4within the sector's middle half▼ 2.9%12.2within the sector's middle half▼ 9.0%11.1within the sector's middle half▼ 9.0%9.3within the sector's middle half▼ 16.2%9.6within the sector's middle half▲ 3.2%9.4within the sector's middle half▼ 2.1%
above
within
below
The sector band is the middle half of the companies in Warehousing and support activities for transportation (NACE 52). 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 25% lower than in 2024. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.2m
Fixed assets
€12,359
Current assets
€3.1m
Equity and liabilities €3.2m
Equity
€1.3m ▲ 18.1%
Debt
€1.9m ▲ 4.3%
Debt's share of the balance-sheet total falls from 62.3% to 59.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€208,661
Cash flow
€196,408
Quick ratio
1.63▲
2024 · 1.51
Debt to equity
1.46▼
2024 · 1.65
ROE
15.3%▼
2024 · 22.3%
Interest coverage
53.63
Debt ≤ 1 year
€1.9m▲
2024 · €1.8m
Income taxes
€74,573▼
2024 · €88,666
Staff costs
€481,315▲
2024 · €456,826
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 | 13 | 11 | 11 | 11 | 11 |
| full-time | 7 | 6 | 5 | 6 | 6 |
| part-time | 6 | 5 | 6 | 5 | 5 |
| in full-time equivalents | 11.3 | 9.5 | 9.3 | 9.5 | 9.5 |
| Average over the year, in full-time equivalents | 12.2 | 11.1 | 9.3 | 9.6 | 9.4 |
| On a permanent contract | 13 | 11 | 11 | 11 | 11 |
| Joined | 0 | 0 | - | - | 2 |
| Left | 1 | 2 | - | - | 2 |
| Agency workers, average number | 0.5 | - | - | - | - |
| Training hours | 16 | - | - | 40 | 64 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €12,421 |
| Depreciation and write-downs of the year | - | - | - | - | €61 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €1,330 awarded · €1,330 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €665 | €665 |
| 2023 | 1 | €665 | €665 |
Schemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €4.0m | - | - | - | - | - |
| Turnover70 | €2.5m | €3.1m | €3.5m | €4.0m | - | - | - | - | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€0.02m | - | - | - | - | - |
| Other operating income74 | - | - | - | €366 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €390 | €406 | €0.001m | ▲ 199% |
| Operating charges60/66A | - | - | - | €4.0m | - | - | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €1.7m | - | - | - | - | - |
| Purchases600/8 | - | - | - | €1.7m | - | - | - | - | - |
| Services and other goods61 | - | - | - | €1.8m | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.5m | €0.4m | €0.5m | €0.5m | ▲ 5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | €0 | €0 | - | - | - | - | €61 | - |
| Other operating charges640/8 | - | - | - | €62 | €0.04m | €0.001m | €0.001m | €0.002m | ▲ 133% |
| Gross operating margin9900 | - | - | - | - | €0.6m | €0.9m | €0.7m | €0.7m | ▼ 5.8% |
| Operating profit (loss)9901 | €0.02m | €0.004m | €0.1m | €0.001m | €0.05m | €0.4m | €0.3m | €0.2m | ▼ 24.6% |
| Financial income75/76B | - | - | - | €0.1m | €0.02m | €0.04m | €0.06m | €0.07m | ▲ 18.8% |
| Recurring financial income75 | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | €0.06m | €0.07m | ▲ 18.8% |
| Income from current assets751 | - | - | - | €0.02m | - | - | - | - | - |
| Non-recurring financial income76B | - | - | - | €0.08m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.002m | €0.005m | €0.002m | €0.002m | €0.004m | ▲ 94.5% |
| Recurring financial charges65 | €0.004m | €0.002m | €0.002m | €0.002m | €0.001m | €0.002m | €0.002m | €0.004m | ▲ 94.5% |
| Debt charges650 | €418 | €360 | €334 | €387 | - | - | - | - | - |
| Other financial charges652/9 | - | - | - | €0.002m | - | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | - | €0.004m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.02m | €0.1m | €0.1m | €0.07m | €0.5m | €0.3m | €0.3m | ▼ 18.0% |
| Income taxes67/77 | €0.01m | €0.007m | €0.04m | €0.03m | €0.02m | €0.1m | €0.09m | €0.07m | ▼ 15.9% |
| Taxes670/3 | - | - | - | €0.03m | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.02m | €0.009m | €0.1m | €0.07m | €0.05m | €0.4m | €0.2m | €0.2m | ▼ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.009m | €0.1m | €0.07m | €0.05m | €0.4m | €0.2m | €0.2m | ▼ 18.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.2m | €1.8m | €1.8m | €1.9m | €2.5m | €2.9m | €3.2m | ▲ 9.5% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | - | - | - | - | - | - | - | €0.01m | - |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | - | - | - | - | - | - | - | €0.01m | - |
| Land and buildings22 | - | - | - | - | - | - | - | €0.01m | - |
| Current assets29/58 | €1.0m | €1.2m | €1.8m | €1.8m | €1.9m | €2.5m | €2.9m | €3.1m | ▲ 9.1% |
| Stocks and contracts in progress3 | €0.03m | €0.06m | €0.1m | €0.1m | €0.07m | €0.09m | €0.2m | €0.08m | ▼ 60.6% |
| Stocks30/36 | - | - | - | €0.1m | €0.07m | €0.09m | €0.2m | €0.08m | ▼ 60.6% |
| Finished goods33 | - | - | - | €0.1m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.7m | €1.1m | €1.4m | €1.4m | €1.8m | €2.4m | €2.7m | €3.0m | ▲ 14.2% |
| Trade receivables40 | - | - | - | €1.4m | €1.8m | €2.4m | €2.7m | €3.0m | ▲ 14.2% |
| Other amounts receivable41 | - | - | - | €0.008m | €0.02m | - | €11 | €33 | ▲ 211% |
| Cash at bank and in hand54/58 | €0.2m | €0.04m | €0.3m | €0.3m | €0.04m | €0.03m | €0.005m | €0.01m | ▲ 187% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.2m | €1.8m | €1.8m | €1.9m | €2.5m | €2.9m | €3.2m | ▲ 9.5% |
| Equity10/15 | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | €0.8m | €1.1m | €1.3m | ▲ 18.1% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.1m | €0.2m | €0.3m | €0.3m | €0.4m | €0.7m | €1.0m | €1.2m | ▲ 20.4% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.4m | €0.7m | €0.9m | €1.1m | ▲ 20.7% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts payable17/49 | €0.7m | €1.0m | €1.4m | €1.4m | €1.4m | €1.6m | €1.8m | €1.9m | ▲ 4.3% |
| Amounts payable within one year42/48 | €0.7m | €0.8m | €1.2m | €1.2m | €1.2m | €1.6m | €1.8m | €1.9m | ▲ 5.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €0.02m | - |
| Trade debts44 | €0.5m | €0.7m | €1.1m | €1.1m | €1.1m | €1.4m | €1.5m | €1.7m | ▲ 8.3% |
| Suppliers440/4 | - | - | - | €1.1m | €1.1m | €1.4m | €1.5m | €1.7m | ▲ 8.3% |
| Advances received on contracts in progress46 | - | - | - | - | €0.03m | €0.01m | €0.02m | €0.02m | ▲ 2.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.08m | €0.2m | €0.2m | €0.2m | ▼ 20.3% |
| Taxes450/3 | - | - | - | €0.03m | €0.005m | €0.1m | €0.2m | €0.1m | ▼ 29.0% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | ▼ 1.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.2m | €0.05m | €0.02m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,900 | €9,367 | €99,287 | €69,390 | €47,259 | €351,522 | €241,726 | €196,347 | ▼ 18.8% |
| + Depreciation and write-downs630 | €0 | €0 | €0 | - | - | - | - | €61 | - |
| Operating cash flow (approximation) | €20,900 | €9,367 | €99,287 | €69,390 | €47,259 | €351,522 | €241,726 | €196,408 | ▼ 18.7% |
| Change in cash | - | -€202,941 | €264,158 | -€11,599 | -€250,784 | -€6,351 | -€27,668 | €9,561 | - |
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, 31,368 companies had the same profile as LIGNA has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LIGNA 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 31,368 companies, not a prediction for LIGNA. 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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 20-07-2026 | 2026-00311523 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00191373 | |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00203957 | |
| 31-12-2022 | abbreviated format | 08-06-2023 | 2023-00114138 | |
| 31-12-2021 | full format | 30-06-2022 | 2022-20140272 | |
| 31-12-2020 | full format | 25-06-2021 | 2021-24500511 | |
| 31-12-2019 | full format | 02-07-2020 | 2020-25000565 | |
| 31-12-2018 | full format | 05-07-2019 | 2019-28700269 | |
| 31-12-2017 | full format | 22-08-2018 | 2018-47600211 | |
| 31-12-2016 | full format | 09-06-2017 | 2017-15700216 |