LIMIT ELECTRONICS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 46 filings
Turnover
≈ €80,000
Estimated: probably between €33,000 and €200,000
Total assets
€110,979▲ 13.9%
2024 · €97,417
Net result
€4,887▼ 21.7%
2024 · €6,244
Working capital
€38,823▲ 14.4%
2024 · €33,938
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€6,616
▼ 24.3%
2025
20182025
Net result
€4,887
▼ 21.7%
2025
20182025
Equity
€82,310
▲ 6.3%
2025
20182025
Total assets
€110,979
▲ 13.9%
2025
20182025
Debt
€28,669
▲ 43.4%
2025
20182025
Working capital
€38,823
▲ 14.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€11,498-€7,322▼ 36.3%€8,493▲ 16.0%€7,532▼ 11.3%-€6,220€11,411€8,740▼ 23.4%€6,616▼ 24.3%
Net result€7,082-€4,884▼ 31.0%€5,556▲ 13.8%€4,882▼ 12.1%-€11,856€9,524€6,244▼ 34.4%€4,887▼ 21.7%
Equity€154,391-€159,275▲ 3.2%€164,831▲ 3.5%€169,712▲ 3.0%€61,656▼ 63.7%€71,180▲ 15.4%€77,424▲ 8.8%€82,310▲ 6.3%
Total assets€163,512-€161,713▼ 1.1%€173,587▲ 7.3%€172,155▼ 0.8%€64,099▼ 62.8%€72,887▲ 13.7%€97,417▲ 33.7%€110,979▲ 13.9%
Debt€9,121-€2,438▼ 73.3%€8,756▲ 259%€2,443▼ 72.1%€2,443=€1,707▼ 30.1%€19,993▲ 12×€28,669▲ 43.4%
Working capital€95,625-€100,891▲ 5.5%€106,830▲ 5.9%€112,094▲ 4.9%€4,420▼ 96.1%€14,326▲ 224%€33,938▲ 137%€38,823▲ 14.4%
The operating result for 2025 is 24% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110,979
Fixed assets
€56,088 ▼ 0.7%
Current assets
€54,891 ▲ 34.1%
Equity and liabilities €110,979
Equity
€82,310 ▲ 6.3%
Debt
€28,669 ▲ 43.4%
Debt's share of the balance-sheet total rises from 20.5% to 25.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6,998▼
2024 · €9,123
Cash flow
€5,269▼
2024 · €6,627
Current ratio
3.42▼
2024 · 5.84
Debt to equity
0.35▲
2024 · 0.26
ROE
5.9%▼
2024 · 8.1%
ROA
4.4%▼
2024 · 6.4%
Interest coverage
over 100▲
2024 · 57.91
Debt ≤ 1 year
€16,069▲
2024 · €7,009
Debt > 1 year
€12,600=
2024 · €12,600
Income taxes
€1,777▼
2024 · €2,339
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €383 | €383 | €383 | €383 | €383 | €383 | €383 | €383 | = |
| Other operating charges640/8 | - | - | - | €3,706 | €3,954 | €4,298 | €4,769 | €4,856 | ▲ 1.8% |
| Gross operating margin9900 | €15,259 | €11,637 | €12,545 | €11,620 | -€1,884 | €16,092 | €13,892 | €11,854 | ▼ 14.7% |
| Operating profit (loss)9901 | €11,498 | €7,322 | €8,493 | €7,532 | -€6,220 | €11,411 | €8,740 | €6,616 | ▼ 24.3% |
| Financial income75/76B | - | - | - | - | - | - | - | €58 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €58 | - |
| Financial charges65/66B | - | - | - | €208 | €5,636 | €181 | €158 | €10 | ▼ 93.9% |
| Recurring financial charges65 | €148 | - | €169 | €208 | €262 | €181 | €158 | €10 | ▼ 93.9% |
| Non-recurring financial charges66B | - | - | - | - | €5,374 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €11,350 | €7,322 | €8,324 | €7,324 | -€11,856 | €11,231 | €8,583 | €6,664 | ▼ 22.4% |
| Income taxes67/77 | €4,269 | €2,438 | €2,768 | €2,443 | - | €1,707 | €2,339 | €1,777 | ▼ 24.0% |
| Profit (loss) for the period9904 | €7,082 | €4,884 | €5,556 | €4,882 | -€11,856 | €9,524 | €6,244 | €4,887 | ▼ 21.7% |
| Profit (loss) for the period to be appropriated9905 | €7,082 | €4,884 | €5,556 | €4,882 | -€11,856 | €9,524 | €6,244 | €4,887 | ▼ 21.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €163,512 | €161,713 | €173,587 | €172,155 | €64,099 | €72,887 | €97,417 | €110,979 | ▲ 13.9% |
| Fixed assets21/28 | €58,766 | €58,384 | €58,001 | €57,618 | €57,236 | €56,853 | €56,471 | €56,088 | ▼ 0.7% |
| Tangible fixed assets22/27 | €58,766 | €58,384 | €58,001 | €57,618 | €57,236 | €56,853 | €56,471 | €56,088 | ▼ 0.7% |
| Land and buildings22 | - | - | - | €57,618 | €57,236 | €56,853 | €56,471 | €56,088 | ▼ 0.7% |
| Current assets29/58 | €104,745 | €103,329 | €115,586 | €114,537 | €6,863 | €16,033 | €40,946 | €54,891 | ▲ 34.1% |
| Amounts receivable after more than one year29 | - | - | - | €66 | €66 | €66 | €0 | - | - |
| Trade receivables290 | - | - | - | €66 | €66 | €66 | €0 | - | - |
| Amounts receivable within one year40/41 | €99,791 | €101,922 | €111,770 | €111,752 | €5,210 | €9,602 | €2,963 | €31,288 | ▲ 956% |
| Trade receivables40 | - | - | - | - | - | - | €2,963 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €111,752 | €5,210 | €9,602 | €0 | €31,288 | - |
| Current investments50/53 | - | - | - | - | - | - | €12,600 | €20,000 | ▲ 58.7% |
| Cash at bank and in hand54/58 | €4,889 | €1,341 | €3,749 | €2,719 | €1,587 | €6,366 | €25,383 | €842 | ▼ 96.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €2,761 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €163,512 | €161,713 | €173,587 | €172,155 | €64,099 | €72,887 | €97,417 | €110,979 | ▲ 13.9% |
| Equity10/15 | €154,391 | €159,275 | €164,831 | €169,712 | €61,656 | €71,180 | €77,424 | €82,310 | ▲ 6.3% |
| Contributions10/11 | €113,610 | €113,610 | €113,610 | €113,610 | €33,502 | €33,502 | €33,502 | €33,502 | = |
| Capital10 | - | - | - | €113,610 | - | - | - | - | - |
| Issued capital100 | - | - | - | €113,610 | - | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | €33,502 | €33,502 | - | - | - |
| Other1109/19 | - | - | - | - | €33,502 | €33,502 | - | - | - |
| Reserves13 | €40,781 | €45,665 | €51,221 | €56,103 | €33,281 | €37,678 | €37,678 | €37,678 | = |
| Non-distributable reserves130/1 | - | - | - | €4,171 | €4,171 | €4,171 | €4,171 | €4,171 | = |
| Legal reserve130 | - | - | - | €4,171 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €4,171 | €4,171 | €4,171 | €4,171 | = |
| Tax-exempt reserves132 | - | - | - | €3,718 | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Distributable reserves133 | - | - | - | €48,213 | €25,391 | €29,788 | €29,788 | €29,788 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€5,126 | - | €6,244 | €11,131 | ▲ 78.3% |
| Amounts payable17/49 | €9,121 | €2,438 | €8,756 | €2,443 | €2,443 | €1,707 | €19,993 | €28,669 | ▲ 43.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €12,600 | €12,600 | = |
| Other amounts payable178/9 | - | - | - | - | - | - | €12,600 | €12,600 | = |
| Amounts payable within one year42/48 | €9,121 | €2,438 | €8,756 | €2,443 | €2,443 | €1,707 | €7,009 | €16,069 | ▲ 129% |
| Trade debts44 | - | - | €3,550 | - | - | - | €2,963 | €4,309 | ▲ 45.4% |
| Suppliers440/4 | - | - | - | - | - | - | €2,963 | €4,309 | ▲ 45.4% |
| Taxes, remuneration and social security45 | - | - | - | €2,443 | €2,443 | €1,707 | €4,046 | €1,760 | ▼ 56.5% |
| Taxes450/3 | - | - | - | €2,443 | €2,443 | €1,707 | €4,046 | €1,760 | ▼ 56.5% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €10,000 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €384 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,082 | €4,884 | €5,556 | €4,882 | -€11,856 | €9,524 | €6,244 | €4,887 | ▼ 21.7% |
| + Depreciation and write-downs630 | €383 | €383 | €383 | €383 | €383 | €383 | €383 | €383 | = |
| Operating cash flow (approximation) | €7,465 | €5,266 | €5,938 | €5,264 | -€11,473 | €9,906 | €6,627 | €5,269 | ▼ 20.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,548 | €2,409 | -€1,031 | -€1,132 | €4,779 | €19,018 | -€24,541 | - |
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, 17,041 companies had the same profile as LIMIT ELECTRONICS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LIMIT ELECTRONICS itself: 0.2% 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 17,041 companies, not a prediction for LIMIT ELECTRONICS. 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 46 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-07-2026 | 2026-00288841 | |
| 31-12-2024 | abbreviated format | 30-07-2025 | 2025-00328465 | |
| 31-12-2023 | micro format | 07-06-2024 | 2024-00122145 | |
| 31-12-2022 | micro format | 08-06-2023 | 2023-00120420 | |
| 31-12-2021 | micro format | 31-05-2022 | 2022-20042830 | |
| 31-12-2020 | micro format | 22-06-2021 | 2021-22600189 | |
| 31-12-2019 | micro format | 05-08-2020 | 2020-39200001 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25700311 | |
| 31-12-2017 | micro format | 23-10-2018 | 2018-70000079 | |
| 31-12-2016 | micro format | 30-11-2017 | 2017-70900480 |