LIMINA
ActiveSummary
LIMINA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €99,935 and a net result of -€88,272. Equity is growing by ~21.8% per year across the filed fiscal years. Its solvency ranks better than 25% of 8061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
What they do
Painting of buildings
NACE 43341
1 site
How big
€415,409total assets 2025
- Staff
- 1.6 FTE
- Equity
- €99,935
- Loss
- -€88,272
Turnover not published (abridged schema)
Who decides
Accounts filed 26 d late0 of 4 deeds read
Why 48- Higher-failure-rate sector- Annual accounts: weaker financial profileFiled after the deadlineShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-74
Solvency49▲+3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 1.76 against 1.52 in 2024; short-term debt: 49.9% and cash: 31.2% of total assets), but 75.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24.1%
Return on assets
-21.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
26 d late
2024
61 d late
2023
30 d late
2022
28 d late
2021
26 d late
2020
17 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed 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 28 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Weakest financial yearnet -€88,272
- Annual accounts filedfiscal year 2024 · micro…
Financials
Fiscal year 2025Total assets €415,409Loss -€88,272Solvency 24.1%Liquidity 1.76
Total assets
€415,409▼ 53.0%
2018 - 2025
Net result
-€88,272
2018 - 2025
Equity
€99,935▼ 46.9%
2018 - 2025
Staff (FTE)
1.6▼ 40.7%
2022 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€24,097▼ 76.4%€114,984▲ 377%€51,831▼ 54.9%€55,724▲ 7.5%-€76,261
Net result€14,071within the sector's middle half▼ 81.5%€72,889above the sector's middle half▲ 418%€36,740above the sector's middle half▼ 49.6%€38,899above the sector's middle half▲ 5.9%-€88,272below the sector's middle half
Equity€87,279within the sector's middle half▼ 15.1%€142,568above the sector's middle half▲ 63.3%€149,308above the sector's middle half▲ 4.7%€188,206above the sector's middle half▲ 26.1%€99,935within the sector's middle half▼ 46.9%
Total assets€286,770within the sector's middle half▲ 7.5%€612,504above the sector's middle half▲ 114%€712,838above the sector's middle half▲ 16.4%€884,031above the sector's middle half▲ 24.0%€415,409within the sector's middle half▼ 53.0%
Debt€199,492▲ 21.6%€469,936▲ 136%€563,531▲ 19.9%€695,825▲ 23.5%€315,474▼ 54.7%
Working capital€128,151above the sector's middle half▼ 24.3%€214,982above the sector's middle half▲ 67.8%€285,067above the sector's middle half▲ 32.6%€285,859above the sector's middle half▲ 0.3%€156,811within the sector's middle half▼ 45.1%
Solvency30.4%within the sector's middle half▼ 8.1pp23.3%within the sector's middle half▼ 7.2pp20.9%below the sector's middle half▼ 2.3pp21.3%below the sector's middle half▲ 0.3pp24.1%within the sector's middle half▲ 2.8pp
Current ratio1.89within the sector's middle half▼ 1.321.57within the sector's middle half▼ 0.321.68within the sector's middle half▲ 0.111.52within the sector's middle half▼ 0.161.76within the sector's middle half▲ 0.24
Return on assets (ROA)4.9%within the sector's middle half▼ 23.6pp11.9%within the sector's middle half▲ 7.0pp5.2%within the sector's middle half▼ 6.7pp4.4%within the sector's middle half▼ 0.8pp-21.2%below the sector's middle half▼ 25.6pp
Staff (FTE)1.72.2▲ 29.4%2.7▲ 22.7%1.6below the sector's middle half▼ 40.7%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €76,261 after €55,724 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €415,409
Fixed assets
€51,265 ▲ 10.8%
Current assets
€364,144 ▼ 56.5%
Equity and liabilities €415,409
Equity
€99,935 ▼ 46.9%
Debt
€315,474 ▼ 54.7%
Debt's share of the balance-sheet total falls from 78.7% to 75.9%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
-€61,925▼
2024 · €66,530
Cash flow
-€73,936▼
2024 · €49,705
Debt to equity
3.16▼
2024 · 3.70
ROE
-88.3%▼
2024 · 20.7%
Interest coverage
-5.19▼
2024 · 20.12
Debt ≤ 1 year
€207,333▼
2024 · €551,914
Debt > 1 year
€108,140▼
2024 · €143,911
Income taxes
€608▼
2024 · €12,451
Staff costs
€77,959▼
2024 · €160,985
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.2% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,133 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €5,300 | €16,207 | €53,450 | €30,059 | €3,160 | ▼ 89.5% |
| Remuneration, social security and pensions62 | €6,429 | €68,729 | €113,990 | €160,985 | €77,959 | ▼ 51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,132 | €6,806 | €6,134 | €10,807 | €14,336 | ▲ 32.7% |
| Other operating charges640/8 | €12,213 | €9,276 | €10,102 | €4,272 | €4,179 | ▼ 2.2% |
| Non-recurring operating charges66A | €3,867 | - | €5,290 | €173 | €20,589 | ▲ 11,785% |
| Gross operating margin9900 | €55,737 | €199,795 | €187,347 | €231,961 | €40,802 | ▼ 82.4% |
| Operating profit (loss)9901 | €24,097 | €114,984 | €51,831 | €55,724 | -€76,261 | ▼ 237% |
| Financial income75/76B | €3,111 | €1,172 | €5,312 | €3,217 | €524 | ▼ 83.7% |
| Recurring financial income75 | €3,111 | €1,172 | €5,312 | €352 | €524 | ▲ 48.7% |
| Non-recurring financial income76B | €3,111 | €1,172 | €5,312 | €2,865 | €0 | ▼ 100% |
| Financial charges65/66B | €1,727 | €13,259 | €2,944 | €7,591 | €11,926 | ▲ 57.1% |
| Recurring financial charges65 | €485 | €4,537 | -€219 | €3,307 | €11,926 | ▲ 261% |
| Non-recurring financial charges66B | €1,242 | €8,722 | €3,163 | €4,284 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €25,482 | €102,897 | €54,198 | €51,349 | -€87,663 | ▼ 271% |
| Income taxes67/77 | €11,411 | €30,008 | €17,458 | €12,451 | €608 | ▼ 95.1% |
| Profit (loss) for the period9904 | €14,071 | €72,889 | €36,740 | €38,899 | -€88,272 | ▼ 327% |
| Profit (loss) for the period to be appropriated9905 | €14,071 | €72,889 | €36,740 | €38,899 | -€88,272 | ▼ 327% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €286,770 | €612,504 | €712,838 | €884,031 | €415,409 | ▼ 53.0% |
| Fixed assets21/28 | €15,181 | €20,263 | €7,555 | €46,258 | €51,265 | ▲ 10.8% |
| Tangible fixed assets22/27 | €15,181 | €20,263 | €7,555 | €46,258 | €51,265 | ▲ 10.8% |
| Plant, machinery and equipment23 | €1,498 | €857 | €440 | €1,364 | €888 | ▼ 34.9% |
| Furniture and vehicles24 | €13,684 | €19,406 | €7,115 | €44,894 | €50,377 | ▲ 12.2% |
| Current assets29/58 | €271,589 | €592,241 | €705,283 | €837,773 | €364,144 | ▼ 56.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €2,116 | - |
| Other amounts receivable291 | - | - | - | - | €2,116 | - |
| Amounts receivable within one year40/41 | €156,914 | €453,850 | €611,447 | €637,169 | €232,259 | ▼ 63.5% |
| Trade receivables40 | €133,114 | €403,989 | €543,055 | €579,190 | €130,222 | ▼ 77.5% |
| Other amounts receivable41 | €23,801 | €49,860 | €68,391 | €57,978 | €102,038 | ▲ 76.0% |
| Cash at bank and in hand54/58 | €114,675 | €138,391 | €69,913 | €200,604 | €129,769 | ▼ 35.3% |
| Deferred charges and accrued income490/1 | - | - | €23,923 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €286,770 | €612,504 | €712,838 | €884,031 | €415,409 | ▼ 53.0% |
| Equity10/15 | €87,279 | €142,568 | €149,308 | €188,206 | €99,935 | ▼ 46.9% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | €6,200 | €18,600 | €18,600 | - | - | - |
| Other1109/19 | €6,200 | €18,600 | €18,600 | - | - | - |
| Reserves13 | €81,079 | €123,968 | €130,708 | €169,606 | €81,335 | ▼ 52.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | €1,860 | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | €1,860 | - |
| Distributable reserves133 | €79,219 | €122,108 | €128,848 | €169,606 | €79,475 | ▼ 53.1% |
| Amounts payable17/49 | €199,492 | €469,936 | €563,531 | €695,825 | €315,474 | ▼ 54.7% |
| Amounts payable after more than one year17 | - | - | - | €143,911 | €108,140 | ▼ 24.9% |
| Financial debts170/4 | - | - | - | €143,911 | €108,140 | ▼ 24.9% |
| Amounts payable within one year42/48 | €143,439 | €377,259 | €420,217 | €551,914 | €207,333 | ▼ 62.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €63,055 | €35,771 | ▼ 43.3% |
| Financial debts43 | €16,061 | €9,916 | €1,284 | €1,143 | €1,706 | ▲ 49.3% |
| Credit institutions430/8 | €16,061 | €9,916 | €1,284 | €1,143 | €1,706 | ▲ 49.3% |
| Trade debts44 | €83,746 | €244,823 | €310,659 | €393,527 | €157,611 | ▼ 59.9% |
| Suppliers440/4 | €83,746 | €244,823 | €310,659 | €393,527 | €157,611 | ▼ 59.9% |
| Advances received on contracts in progress46 | €12,162 | €72,429 | €53,210 | €67,669 | €4,076 | ▼ 94.0% |
| Taxes, remuneration and social security45 | €6,336 | €4,591 | €9,564 | €5,623 | €7,323 | ▲ 30.2% |
| Taxes450/3 | €5,888 | €4,508 | €6,524 | €2,117 | €6,573 | ▲ 210% |
| Remuneration and social security454/9 | €448 | €84 | €3,040 | €3,505 | €750 | ▼ 78.6% |
| Other amounts payable47/48 | €25,135 | €45,500 | €45,500 | €20,896 | €847 | ▼ 95.9% |
| Accrued charges and deferred income492/3 | €56,053 | €92,677 | €143,314 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,071 | €72,889 | €36,740 | €38,899 | -€88,272 | ▼ 327% |
| + Depreciation and write-downs630 | €9,132 | €6,806 | €6,134 | €10,807 | €14,336 | ▲ 32.7% |
| Operating cash flow (approximation) | €23,202 | €79,696 | €42,874 | €49,705 | -€73,936 | ▼ 249% |
| Investment in fixed assets (approximation) | - | -€11,888 | €6,574 | -€49,510 | -€19,342 | ▲ 60.9% |
| Change in cash | - | €23,717 | -€68,478 | €130,691 | -€70,835 | ▼ 154% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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BE 0772.324.193
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MALERBETRIEB DANIEL LANGER
BE 0474.865.478
Bütgenbach · Eq €99,981
GEERT DELEERSNYDER
BE 0738.430.316
Zulte · Eq €99,862
Etablissements François Mazza
BE 0403.966.495
Seraing · Eq €100,029
Schilderwerken Cochuyt Davy
BE 0599.763.569
Maldegem · Eq €99,617
Of 7,862 companies in this sector we hold annual accounts for 2,666. 2,276 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
15 eventsLatest 26-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet -€88,272
Net result drops to -€88,272, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Equity above €150,000Eq €188,206 ▲26.1%
5 profitable years in a row build equity to €188,206.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Equity above €100,000Eq €142,568 ▲63.3%
3 profitable years in a row build equity to €142,568.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €76,045
Net result €76,045 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 3.22
Current ratio from 1.61 to 3.22.
31-12
Financial
Equity above €100,000Eq €102,779 ▲284%
Equity rises from €26,733 to €102,779.
Show earlier events
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 30-03-2017Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded30-03-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0673695781
Also
9925:BE0673695781
Registered
24-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Zaventem · 1 establishment unit since 2017
Ground area
264 m²
Building footprint
190 m²
Volume, LiDAR
1,276 m³
Parcel 23082B0046/00V006, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Burchtstraat 15, 1933 Zaventem
since 2017unit no. 2.269.803.364
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23082B0046/00V006 | Flanders | 264 m² | 1 · 190 m² | 11.1 m · 2 fl. |
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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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