LijnCom
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 02-06-2026 PDF all 19 filings
Turnover
€8.3m▼ 0.9%
2024 · €8.4m
EBIT margin
1.9%▲ 0.3pp
2024 · 1.7%
Net result
€102,809▲ 10.0%
2024 · €93,430
Working capital
€2.2m▼ 15.8%
2024 · €2.6m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€8.3m
▼ 0.9%
2025
20182025
Operating result
€161,883
▲ 15.2%
2025
20182025
Net result
€102,809
▲ 10.0%
2025
middle half of the sector
20182025
EBIT margin
1.9%
▲ 0.3pp
2025
20182025
Equity
€3.0m
▲ 3.5%
2025
highest quarter of the sector
20182025
Total assets
€11.3m
▲ 4.1%
2025
highest quarter of the sector
20182025
Debt
€8.3m
▲ 4.3%
2025
20182025
Working capital
€2.2m
▼ 15.8%
2025
highest quarter of the sector
20182025
Solvency
26.7%
▼ 0.1pp
2025
middle half of the sector
20182025
Current ratio
1.28
▼ 0.07
2025
middle half of the sector
20182025
Return on assets (ROA)
0.9%
=
2025
middle half of the sector
20182025
Staff (FTE)
14.1
▼ 0.7%
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€10.1m-€9.2m▼ 8.6%€6.8m▼ 26.5%€7.3m▲ 7.7%€8.8m▲ 21.1%€8.6m▼ 2.7%€8.4m▼ 1.8%€8.3m▼ 0.9%
Operating result€0.2m-€0.2m▼ 8.5%€0.09m▼ 44.6%€0.9m▲ 912%€0.3m▼ 66.9%€0.1m▼ 59.0%€0.1m▲ 12.2%€0.2m▲ 15.2%
Net result€0.1m-€0.09m▼ 9.0%€0.05mwithin the sector's middle half▼ 46.3%€0.7mabove the sector's middle half▲ 13×€0.2mabove the sector's middle half▼ 68.8%€0.09mwithin the sector's middle half▼ 55.7%€0.09mwithin the sector's middle half▲ 2.8%€0.1mwithin the sector's middle half▲ 10.0%
EBIT margin1.8%-1.8%=1.3%▼ 0.4pp12.7%▲ 11.3pp3.5%▼ 9.2pp1.5%▼ 2.0pp1.7%▲ 0.2pp1.9%▲ 0.3pp
Equity€1.7m-€1.8m▲ 5.4%€1.9mabove the sector's middle half▲ 2.8%€2.5mabove the sector's middle half▲ 35.0%€2.7mabove the sector's middle half▲ 8.1%€2.8mabove the sector's middle half▲ 3.3%€2.9mabove the sector's middle half▲ 3.3%€3.0mabove the sector's middle half▲ 3.5%
Total assets€12.4m-€9.9m▼ 19.8%€7.8mabove the sector's middle half▼ 21.5%€9.0mabove the sector's middle half▲ 16.2%€10.6mabove the sector's middle half▲ 17.8%€10.4mabove the sector's middle half▼ 2.4%€10.9mabove the sector's middle half▲ 4.9%€11.3mabove the sector's middle half▲ 4.1%
Debt€10.6m-€8.1m▼ 24.0%€5.9m▼ 27.0%€6.5m▲ 10.1%€7.9m▲ 21.6%€7.6m▼ 4.3%€8.0m▲ 5.5%€8.3m▲ 4.3%
Working capital€1.7m-€2.2m▲ 27.1%€2.0mabove the sector's middle half▼ 7.1%€2.7mabove the sector's middle half▲ 34.4%€3.0mabove the sector's middle half▲ 10.1%€2.7mabove the sector's middle half▼ 9.1%€2.6mabove the sector's middle half▼ 2.9%€2.2mabove the sector's middle half▼ 15.8%
Solvency14.0%-18.5%▲ 4.4pp24.2%within the sector's middle half▲ 5.7pp28.1%within the sector's middle half▲ 3.9pp25.8%within the sector's middle half▼ 2.3pp27.3%within the sector's middle half▲ 1.5pp26.9%within the sector's middle half▼ 0.4pp26.7%within the sector's middle half▼ 0.1pp
Current ratio1.16-1.29▲ 0.131.36within the sector's middle half▲ 0.071.44within the sector's middle half▲ 0.081.40within the sector's middle half▼ 0.041.37within the sector's middle half▼ 0.031.35within the sector's middle half▼ 0.021.28within the sector's middle half▼ 0.07
Return on assets (ROA)0.8%-1.0%▲ 0.1pp0.7%within the sector's middle half▼ 0.3pp7.3%within the sector's middle half▲ 6.6pp1.9%within the sector's middle half▼ 5.4pp0.9%within the sector's middle half▼ 1.1pp0.9%within the sector's middle half=0.9%within the sector's middle half=
Staff (FTE)13.2-13.8▲ 4.5%12.9within the sector's middle half▼ 6.5%13.2within the sector's middle half▲ 2.3%14within the sector's middle half▲ 6.1%15.1within the sector's middle half▲ 7.9%14.2within the sector's middle half▼ 6.0%14.1within the sector's middle half▼ 0.7%
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 15% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.3m
Fixed assets
€1.2m ▲ 91.5%
Current assets
€10.2m ▼ 1.1%
Equity and liabilities €11.3m
Equity
€3.0m ▲ 3.5%
Debt
€8.3m ▲ 4.3%
Debt's share of the balance-sheet total rises from 73.1% to 73.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€338,624▲
2024 · €248,521
Cash flow
€279,550▲
2024 · €201,440
Debt to equity
2.74▲
2024 · 2.72
ROE
3.4%▲
2024 · 3.2%
Interest coverage
46.09▼
2024 · 90.08
Debt ≤ 1 year
€7.9m▲
2024 · €7.6m
Income taxes
€56,475▲
2024 · €50,577
Customer credit
79 days▼
2024 · 111 days
Supplier credit
1163 days▲
2024 · 842 days
Staff costs
€1.8m▲
2024 · €1.7m
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 | 14 | 14 | 14 | 15 | 15 |
| full-time | 14 | 14 | 14 | 14 | 14 |
| part-time | - | 0 | 0 | 1 | 1 |
| in full-time equivalents | 14 | 14 | 14 | 14.9 | 14.9 |
| Average over the year, in full-time equivalents | 13.2 | 14 | 15.1 | 14.2 | 14.1 |
| On a permanent contract | 14 | 14 | 14 | 15 | 15 |
| Joined | 2 | - | 3 | 4 | 1 |
| Left | 2 | - | 3 | 3 | 1 |
| Agency workers, average number | 0.4 | 0.7 | 0.4 | 0.1 | - |
| Training hours | - | 19 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10,632 | €75,039 | €291,079 | €339,203 | €746,426 |
| Intangible fixed assets | €39,763 | - | - | €63,128 | - |
| Depreciation and write-downs of the year | €85,330 | €60,302 | €55,274 | €108,011 | €176,741 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €19,400 | €21,600 | €22,400 | €21,650 | €20,000 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,150 awarded · €1,150 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €7.3m | €8.8m | €8.6m | €8.5m | €8.4m | ▼ 0.9% |
| Turnover70 | €10.1m | €9.2m | €6.8m | €7.3m | €8.8m | €8.6m | €8.4m | €8.3m | ▼ 0.9% |
| Other operating income74 | - | - | - | €0.03m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 2.9% |
| Non-recurring operating income76A | - | - | - | - | - | - | €0.001m | €0.001m | ▼ 49.8% |
| Operating charges60/66A | - | - | - | €6.4m | €8.5m | €8.5m | €8.3m | €8.2m | ▼ 1.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | €2.6m | €3.5m | €3.1m | €2.8m | €2.1m | ▼ 25.8% |
| Purchases600/8 | - | - | - | €2.6m | €3.5m | €3.1m | €2.8m | €2.1m | ▼ 25.8% |
| Services and other goods61 | - | - | - | €2.4m | €3.5m | €3.4m | €3.7m | €4.1m | ▲ 10.4% |
| Remuneration, social security and pensions62 | - | - | - | €1.3m | €1.5m | €1.8m | €1.7m | €1.8m | ▲ 8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.09m | €0.1m | €0.09m | €0.06m | €0.06m | €0.1m | €0.2m | ▲ 63.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.02m | -€0.3m | -€0.02m | €0.01m | €0.04m | ▲ 224% |
| Other operating charges640/8 | - | - | - | €0.003m | €0.3m | €0.02m | €0.002m | €0.002m | ▼ 32.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.06m | €0 | €0.001m | - |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.09m | €0.9m | €0.3m | €0.1m | €0.1m | €0.2m | ▲ 15.2% |
| Financial income75/76B | - | - | - | €144 | €0.001m | €0.01m | €0.006m | €0.005m | ▼ 24.1% |
| Recurring financial income75 | €0.002m | €0.002m | €179 | €144 | €0.001m | €0.01m | €0.006m | €0.005m | ▼ 24.1% |
| Income from financial fixed assets750 | - | - | - | - | - | €0.004m | €0.006m | €0.004m | ▼ 29.6% |
| Income from current assets751 | - | - | - | €40 | €0 | - | - | - | - |
| Other financial income752/9 | - | - | - | €103 | €0.001m | €0.006m | €117 | €424 | ▲ 264% |
| Financial charges65/66B | - | - | - | €0.007m | €0.006m | €0.005m | €0.003m | €0.007m | ▲ 166% |
| Recurring financial charges65 | €0.005m | €0.005m | €0.005m | €0.007m | €0.006m | €0.005m | €0.003m | €0.007m | ▲ 166% |
| Debt charges650 | €181 | - | €4 | - | - | - | - | - | - |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | - | €0.002m | €0 | - | - |
| Other financial charges652/9 | - | - | - | €0.007m | €0.006m | €0.003m | €0.003m | €0.007m | ▲ 166% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €0.09m | €0.9m | €0.3m | €0.1m | €0.1m | €0.2m | ▲ 10.6% |
| Income taxes67/77 | €0.07m | €0.07m | €0.04m | €0.3m | €0.1m | €0.04m | €0.05m | €0.06m | ▲ 11.7% |
| Taxes670/3 | - | - | - | €0.3m | €0.1m | €0.04m | €0.05m | €0.06m | ▲ 11.7% |
| Profit (loss) for the period9904 | €0.1m | €0.09m | €0.05m | €0.7m | €0.2m | €0.09m | €0.09m | €0.1m | ▲ 10.0% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.09m | €0.05m | €0.7m | €0.2m | €0.09m | €0.09m | €0.1m | ▲ 10.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12.4m | €9.9m | €7.8m | €9.0m | €10.6m | €10.4m | €10.9m | €11.3m | ▲ 4.1% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.3m | €0.6m | €1.2m | ▲ 91.5% |
| Intangible fixed assets21 | €0.01m | €0.01m | €0.007m | €0.04m | €0.02m | €0.009m | €0.05m | €0.03m | ▼ 38.8% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.08m | €0.1m | €0.3m | €0.6m | €1.1m | ▲ 107% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.02m | €0.3m | €0.4m | €1.0m | ▲ 159% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.03m | €0.04m | €0.03m | €0.02m | ▼ 44.9% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €0 | - | €0.2m | €0.2m | ▲ 9.9% |
| Assets under construction and advance payments27 | - | - | - | - | €0.06m | €0 | - | - | - |
| Financial fixed assets28 | €0.02m | €0.008m | €0.008m | €0.007m | €0.007m | €0.007m | €0.007m | €0 | ▼ 100% |
| Other financial fixed assets284/8 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0 | ▼ 100% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0 | ▼ 100% |
| Current assets29/58 | €12.1m | €9.7m | €7.6m | €8.9m | €10.5m | €10.1m | €10.3m | €10.2m | ▼ 1.1% |
| Stocks and contracts in progress3 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €4.2m | €3.7m | €2.6m | €3.0m | €2.8m | €2.5m | €3.3m | €2.6m | ▼ 21.0% |
| Trade receivables40 | - | - | - | €2.6m | €2.2m | €1.9m | €2.6m | €1.8m | ▼ 29.7% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.7m | €0.6m | €0.7m | €0.8m | ▲ 10.5% |
| Cash at bank and in hand54/58 | €7.9m | €6.0m | €5.0m | €5.8m | €7.6m | €7.5m | €6.9m | €7.5m | ▲ 8.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.05m | €0.07m | €0.08m | €0.1m | ▲ 16.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12.4m | €9.9m | €7.8m | €9.0m | €10.6m | €10.4m | €10.9m | €11.3m | ▲ 4.1% |
| Equity10/15 | €1.7m | €1.8m | €1.9m | €2.5m | €2.7m | €2.8m | €2.9m | €3.0m | ▲ 3.5% |
| Contributions10/11 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Capital10 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Issued capital100 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Legal reserve130 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €1.0m | €1.1m | €1.1m | €1.8m | €2.0m | €2.1m | €2.2m | €2.3m | ▲ 4.7% |
| Amounts payable17/49 | €10.6m | €8.1m | €5.9m | €6.5m | €7.9m | €7.6m | €8.0m | €8.3m | ▲ 4.3% |
| Amounts payable within one year42/48 | €10.4m | €7.5m | €5.6m | €6.2m | €7.5m | €7.4m | €7.6m | €7.9m | ▲ 3.9% |
| Trade debts44 | €9.3m | €6.5m | €4.9m | €5.2m | €6.4m | €6.3m | €6.5m | €6.7m | ▲ 2.5% |
| Suppliers440/4 | - | - | - | €5.2m | €6.4m | €6.3m | €6.5m | €6.7m | ▲ 2.5% |
| Taxes, remuneration and social security45 | - | - | - | €1.0m | €1.1m | €1.1m | €1.1m | €1.3m | ▲ 12.1% |
| Taxes450/3 | - | - | - | €0.8m | €0.7m | €0.8m | €0.8m | €0.9m | ▲ 9.5% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 19.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.4m | €0.2m | €0.3m | €0.4m | ▲ 13.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.09m | €0.05m | €0.7m | €0.2m | €0.09m | €0.09m | €0.1m | ▲ 10.0% |
| + Depreciation and write-downs630 | €0.1m | €0.09m | €0.1m | €0.09m | €0.06m | €0.06m | €0.1m | €0.2m | ▲ 63.6% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.7m | €0.3m | €0.1m | €0.2m | €0.3m | ▲ 38.8% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.05m | -€0.05m | -€0.08m | -€0.2m | -€0.4m | -€0.7m | ▼ 83.7% |
| Change in cash | - | -€1.9m | -€1.0m | €0.8m | €1.8m | -€0.1m | -€0.5m | €0.6m | - |
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, 4,685 companies had the same profile as LijnCom has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.9%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of LijnCom itself: 0.1% 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 4,685 companies, not a prediction for LijnCom. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 02-06-2026 | 2026-00141140 | |
| 31-12-2024 | full format | 10-06-2025 | 2025-00155452 | |
| 31-12-2023 | full format | 06-06-2024 | 2024-00127747 | |
| 31-12-2022 | full format | 22-06-2023 | 2023-00164464 | |
| 31-12-2021 | full format | 22-06-2022 | 2022-20101227 | |
| 31-12-2020 | full format | 03-06-2021 | 2021-17500227 | |
| 31-12-2019 | full format | 18-09-2020 | 2020-55100175 | |
| 31-12-2018 | full format | 24-06-2019 | 2019-22400511 | |
| 31-12-2017 | full format | 17-07-2018 | 2018-34600217 | |
| 31-12-2016 | full format | 12-07-2017 | 2017-30700166 |