LIMATH
ActiveSummary
The computed 12-month bankruptcy probability of LIMATH is 2.1% (moderate). The 2025 annual accounts show equity of €320,500 and a net result of €330,060. Equity is growing by ~7.2% per year across the filed fiscal years. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100▲+75
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €24,000 at 30 days acceptable
Liquidity ample (current ratio 2.36 against 0.34 in 2024; short-term debt: 19.7% and cash: 24.1% of total assets), and 19.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
80.3%
Return on assets
82.7%
Age of the figures
9 mo
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 07-07-2026, 24 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
24 d early
2024
295 d late
2023
92 d late
2022
80 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 95 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
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. Usually files around 19 October (4 of the last 5 filed years within 104 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€320,500▲ 64,000%
2024 · €500
Total assets
€398,980▲ 1.3%
2024 · €393,880
Net result
€330,060▲ 67.8%
2024 · €196,651
Working capital
€106,896
2024 · -€260,295
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€213,332-€235,066▲ 10.2%€252,254▲ 7.3%€253,588▲ 0.5%€444,477▲ 75.3%
Net result€165,436-€182,021▲ 10.0%€190,459▲ 4.6%€196,651▲ 3.3%€330,060▲ 67.8%
Equity€165,936-€346,457▲ 109%€504,416▲ 45.6%€500▼ 99.9%€320,500▲ 64,000%
Total assets€218,322-€420,149▲ 92.4%€578,460▲ 37.7%€393,880▼ 31.9%€398,980▲ 1.3%
Debt€52,386-€73,692▲ 40.7%€74,044▲ 0.5%€393,380▲ 431%€78,480▼ 80.0%
Working capital€119,240-€287,436▲ 141%€442,483▲ 53.9%-€260,295€106,896
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 75% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €398,980
Fixed assets
€213,604 ▼ 18.1%
Current assets
€185,376 ▲ 39.3%
Equity and liabilities €398,980
Equity
€320,500 ▲ 64,000%
Debt
€78,480 ▼ 80.0%
Debt's share of the balance-sheet total falls from 99.9% to 19.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€493,574▲
2024 · €267,782
Cash flow
€379,157▲
2024 · €210,844
Current ratio
2.36▲
2024 · 0.34
Debt to equity
0.24
ROE
103.0%
ROA
82.7%▲
2024 · 49.9%
Interest coverage
432.13▲
2024 · 159.66
Debt ≤ 1 year
€78,480▼
2024 · €393,380
Income taxes
€113,275▲
2024 · €63,761
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,776 | €7,694 | €10,346 | €14,194 | €49,097 | ▲ 246% |
| Other operating charges640/8 | €2,770 | €375 | €792 | €245 | €310 | ▲ 26.5% |
| Non-recurring operating charges66A | - | - | €20,000 | - | - | - |
| Gross operating margin9900 | €219,878 | €243,135 | €283,393 | €268,027 | €493,884 | ▲ 84.3% |
| Operating profit (loss)9901 | €213,332 | €235,066 | €252,254 | €253,588 | €444,477 | ▲ 75.3% |
| Financial income75/76B | €29 | €729 | €2,985 | €8,500 | - | - |
| Recurring financial income75 | €29 | €729 | €2,985 | €8,500 | - | - |
| Financial charges65/66B | €266 | €450 | €359 | €1,677 | €1,142 | ▼ 31.9% |
| Recurring financial charges65 | €266 | €450 | €359 | €1,677 | €1,142 | ▼ 31.9% |
| Profit (loss) for the period before taxes9903 | €213,095 | €235,345 | €254,881 | €260,411 | €443,335 | ▲ 70.2% |
| Income taxes67/77 | €47,659 | €53,325 | €64,422 | €63,761 | €113,275 | ▲ 77.7% |
| Profit (loss) for the period9904 | €165,436 | €182,021 | €190,459 | €196,651 | €330,060 | ▲ 67.8% |
| Profit (loss) for the period to be appropriated9905 | €165,436 | €182,021 | €190,459 | €196,651 | €330,060 | ▲ 67.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €218,322 | €420,149 | €578,460 | €393,880 | €398,980 | ▲ 1.3% |
| Fixed assets21/28 | €46,696 | €59,021 | €61,933 | €260,795 | €213,604 | ▼ 18.1% |
| Intangible fixed assets21 | - | - | - | €178,806 | €153,091 | ▼ 14.4% |
| Tangible fixed assets22/27 | €46,696 | €59,021 | €61,933 | €81,989 | €60,513 | ▼ 26.2% |
| Land and buildings22 | €32,170 | €30,472 | €28,773 | €27,075 | - | - |
| Furniture and vehicles24 | €9,327 | €10,916 | €16,904 | €43,476 | €52,103 | ▲ 19.8% |
| Other tangible fixed assets26 | €5,199 | €17,634 | €16,256 | €11,439 | €8,410 | ▼ 26.5% |
| Current assets29/58 | €171,626 | €361,128 | €516,527 | €133,085 | €185,376 | ▲ 39.3% |
| Amounts receivable within one year40/41 | €931 | €113,719 | €108,489 | €2,075 | €2,894 | ▲ 39.5% |
| Trade receivables40 | - | €9,334 | €2,140 | €2,075 | €2,894 | ▲ 39.5% |
| Other amounts receivable41 | €931 | €104,385 | €106,349 | - | - | - |
| Current investments50/53 | €25,000 | €40,000 | €270,000 | €60,846 | €80,846 | ▲ 32.9% |
| Cash at bank and in hand54/58 | €94,295 | €158,700 | €90,399 | €67,958 | €96,197 | ▲ 41.6% |
| Deferred charges and accrued income490/1 | €51,400 | €48,709 | €47,638 | €2,206 | €5,438 | ▲ 146% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €218,322 | €420,149 | €578,460 | €393,880 | €398,980 | ▲ 1.3% |
| Equity10/15 | €165,936 | €346,457 | €504,416 | €500 | €320,500 | ▲ 64,000% |
| Contributions10/11 | €500 | €500 | €500 | €500 | €500 | = |
| Profit (loss) carried forward14 | €165,436 | €345,957 | €503,916 | - | €320,000 | - |
| Amounts payable17/49 | €52,386 | €73,692 | €74,044 | €393,380 | €78,480 | ▼ 80.0% |
| Amounts payable within one year42/48 | €52,386 | €73,692 | €74,044 | €393,380 | €78,480 | ▼ 80.0% |
| Trade debts44 | €2,727 | €13,897 | €2,372 | €3,480 | €2,232 | ▼ 35.9% |
| Suppliers440/4 | €2,727 | €13,897 | €2,372 | €3,480 | €2,232 | ▼ 35.9% |
| Taxes, remuneration and social security45 | €49,659 | €58,295 | €71,672 | €41,517 | €7,211 | ▼ 82.6% |
| Taxes450/3 | €47,659 | €56,295 | €69,672 | €39,517 | €5,011 | ▼ 87.3% |
| Remuneration and social security454/9 | €2,000 | €2,000 | €2,000 | €2,000 | €2,200 | ▲ 10.0% |
| Other amounts payable47/48 | - | €1,500 | - | €348,383 | €69,037 | ▼ 80.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €165,436 | €182,021 | €190,459 | €196,651 | €330,060 | ▲ 67.8% |
| + Depreciation and write-downs630 | €3,776 | €7,694 | €10,346 | €14,194 | €49,097 | ▲ 246% |
| Operating cash flow (approximation) | €169,212 | €189,714 | €200,805 | €210,844 | €379,157 | ▲ 79.8% |
| Investment in fixed assets (approximation) | - | -€20,019 | -€13,258 | -€213,056 | -€1,905 | ▲ 99.1% |
| Change in cash | - | €64,405 | -€68,301 | -€22,441 | €28,239 | ▲ 226% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
State Gazette act
Registered officeRegistered-office move · Director in office3 facts ▸
State Gazette act
Registered office
Registered-office move · Director in office3 facts ▸
- Board meeting, 01-03-2026
- Registered-office move, Rue des Buissons 59,4000 Liège
- Director in office, Remacle Thibault (director)
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 295 days late
2025
31-12
Financial
Highest result since 2021net €330,060 ▲67.8%
Operating result €444,477, net result €330,060, both a record.
31-12
Financial
Liquidity times 7current ratio 2.36
Current ratio from 0.34 to 2.36; short-term debt falls from €393,380 to €78,480.
31-12
Financial
Equity above €200,000Eq €320,500 ▲64,000%
5 profitable years in a row build equity to €320,500.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
31-12
Financial
Equity above €500,000Eq €504,416 ▲45.6%
3 profitable years in a row build equity to €504,416.
19-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 80 days late
2022
31-12
Financial
Equity above €200,000Eq €346,457 ▲109%
2 profitable years in a row build equity to €346,457.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2020
Ground area
695 m²
Building footprint
112 m²
Parcel 62818E0128/00G003, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue des Buissons 59, 4000 Liège
since 20202.308.972.657
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62818E0128/00G003 | Wallonia | 695 m² | 1 · 112 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded22-10-2020
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0756902480
Also
9925:BE0756902480
Registered
17-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.