Summary
LINACO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €14.0m and a net result of €1.3m. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 76% of 2409 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €14.0m
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 17-07-2026, 14 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
14 d early
2024
28 d late
2023
13 d early
2022
4 d early
2021
31 d late
2020
16 d late
2019
56 d late
← 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 14 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Pittem, Finance and insurance sector#1 company by equity in Pittem, Finance and insurance sector
Equity
€14.0m▲ 9.5%
2024 · €12.8m
Net result
€1.3m▲ 41.1%
2024 · €935,743
Total assets
€15.8m▲ 1.5%
2024 · €15.6m
Solvency
88.7%▲ 6.6pp
2024 · 82.2%
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
Turnover€716,602€1.4m▲ 96.6%€497,190▼ 64.7%
Operating result€328,539▼ 12.8%€289,344▼ 11.9%€34,562▼ 88.1%€11,133▼ 67.8%€208,963▲ 1,777%
Net result€232,399▼ 10.7%€188,739▼ 18.8%€287▼ 99.8%€935,743▲ 326,466%€1.3m▲ 41.1%
Equity€11.7m▲ 2.0%€11.9m▲ 1.6%€11.9m=€12.8m▲ 7.9%€14.0m▲ 9.5%
Total assets€14.7m▲ 2.1%€14.9m▲ 1.4%€14.9m▼ 0.2%€15.6m▲ 4.5%€15.8m▲ 1.5%
Debt€3.0m▲ 2.1%€3.1m▲ 0.8%€3.0m▼ 0.8%€2.8m▼ 8.7%€1.8m▼ 35.8%
Working capital€1.6m▲ 12.5%€1.7m▲ 3.2%€2.6m▲ 51.5%€3.6m▲ 42.3%€3.8m▲ 4.6%
Solvency79.3%=79.5%▲ 0.1pp79.6%▲ 0.1pp82.2%▲ 2.6pp88.7%▲ 6.6pp
Staff (FTE)1=1=1=1=1=
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,777% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.8m
Fixed assets
€11.7m ▲ 0.4%
Current assets
€4.0m ▲ 4.7%
Equity and liabilities €15.8m
Equity
€14.0m ▲ 9.5%
Debt
€1.8m ▼ 35.8%
Debt's share of the balance-sheet total falls from 17.8% to 11.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.4%▲
2024 · 7.3%
ROA
8.4%▲
2024 · 6.0%
Debt ≤ 1 year
€226,595▲
2024 · €215,561
Debt > 1 year
€1.5m▼
2024 · €2.5m
Income taxes
€40,934▼
2024 · €43,706
Staff costs
€106,500▲
2024 · €101,965
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €739,576 | €1.4m | €505,391 | ▼ 64.2% |
| Turnover70 | - | - | €716,602 | €1.4m | €497,190 | ▼ 64.7% |
| Other operating income74 | - | - | €1,920 | €829 | €8,201 | ▲ 889% |
| Non-recurring operating income76A | - | - | €21,055 | €0 | - | - |
| Operating charges60/66A | - | - | €705,014 | €1.4m | €296,428 | ▼ 78.8% |
| Goods for resale, raw materials and consumables60 | - | - | €307,300 | €1.1m | €0 | ▼ 100% |
| Purchases600/8 | - | - | €6,402 | €1.1m | €10,317 | ▼ 99.1% |
| Change in stocks: decrease (increase)609 | - | - | €300,898 | €41,578 | -€10,317 | ▼ 125% |
| Services and other goods61 | - | - | €264,981 | €126,276 | €140,345 | ▲ 11.1% |
| Remuneration, social security and pensions62 | €81,153 | €85,588 | €110,446 | €101,965 | €106,500 | ▲ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,609 | €30,994 | €16,164 | €35,073 | €35,073 | = |
| Other operating charges640/8 | €22,490 | €2,794 | €6,123 | €6,405 | €14,511 | ▲ 127% |
| Gross operating margin9900 | €461,791 | €408,720 | - | - | - | - |
| Operating profit (loss)9901 | €328,539 | €289,344 | €34,562 | €11,133 | €208,963 | ▲ 1,777% |
| Financial income75/76B | €29,548 | €30,133 | €60,043 | €1.1m | €1.3m | ▲ 13.2% |
| Recurring financial income75 | €29,548 | €30,133 | €60,043 | €1.1m | €1.3m | ▲ 13.2% |
| Income from financial fixed assets750 | - | - | - | €805,332 | €1.0m | ▲ 24.2% |
| Income from current assets751 | - | - | €45,928 | €90,803 | €132,871 | ▲ 46.3% |
| Other financial income752/9 | - | - | €14,116 | €230,672 | €142,989 | ▼ 38.0% |
| Financial charges65/66B | €35,081 | €60,842 | €87,382 | €158,491 | €123,290 | ▼ 22.2% |
| Recurring financial charges65 | €35,081 | €60,842 | €87,382 | €158,491 | €123,290 | ▼ 22.2% |
| Debt charges650 | - | - | €87,049 | €143,840 | €90,738 | ▼ 36.9% |
| Other financial charges652/9 | - | - | €333 | €14,651 | €32,552 | ▲ 122% |
| Profit (loss) for the period before taxes9903 | €323,006 | €258,635 | €7,223 | €979,450 | €1.4m | ▲ 39.0% |
| Income taxes67/77 | €90,607 | €69,895 | €6,937 | €43,706 | €40,934 | ▼ 6.3% |
| Taxes670/3 | - | - | €6,937 | €43,706 | €40,934 | ▼ 6.3% |
| Profit (loss) for the period9904 | €232,399 | €188,739 | €287 | €935,743 | €1.3m | ▲ 41.1% |
| Profit (loss) for the period to be appropriated9905 | €232,399 | €188,739 | €287 | €935,743 | €1.3m | ▲ 41.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.7m | €14.9m | €14.9m | €15.6m | €15.8m | ▲ 1.5% |
| Fixed assets21/28 | €11.1m | €11.2m | €11.3m | €11.7m | €11.7m | ▲ 0.4% |
| Tangible fixed assets22/27 | €78,677 | €47,683 | €132,299 | €432,226 | €397,153 | ▼ 8.1% |
| Plant, machinery and equipment23 | €3,129 | €114 | €0 | - | - | - |
| Furniture and vehicles24 | €75,548 | €47,569 | €132,299 | €97,226 | €62,153 | ▼ 36.1% |
| Other tangible fixed assets26 | - | - | - | €335,000 | €335,000 | = |
| Financial fixed assets28 | €11.0m | €11.2m | €11.2m | €11.3m | €11.3m | ▲ 0.7% |
| Affiliated companies280/1 | - | - | €11.0m | €11.0m | €11.0m | = |
| Participating interests280 | - | - | €11.0m | €11.0m | €11.0m | = |
| Amounts receivable281 | - | - | - | €362 | €0 | ▼ 100% |
| Companies linked by participating interests282/3 | - | - | €189,093 | €239,093 | €319,787 | ▲ 33.8% |
| Participating interests282 | - | - | €189,093 | €239,093 | €239,093 | = |
| Amounts receivable283 | - | - | - | - | €80,694 | - |
| Other financial fixed assets284/8 | - | - | €50 | €0 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €50 | €0 | - | - |
| Current assets29/58 | €3.6m | €3.7m | €3.6m | €3.9m | €4.0m | ▲ 4.7% |
| Amounts receivable after more than one year29 | €150,000 | €150,000 | €237,941 | €237,941 | €237,941 | = |
| Other amounts receivable291 | €150,000 | €150,000 | €237,941 | €237,941 | €237,941 | = |
| Stocks and contracts in progress3 | €371,089 | €371,089 | €70,191 | €28,613 | €38,930 | ▲ 36.1% |
| Stocks30/36 | €371,089 | €371,089 | €70,191 | €28,613 | €38,930 | ▲ 36.1% |
| Raw materials and consumables30/31 | - | - | €27,491 | €28,613 | €38,930 | ▲ 36.1% |
| Property held for sale35 | - | - | €42,700 | €0 | - | - |
| Amounts receivable within one year40/41 | €58,311 | €173,638 | €404,570 | €480,886 | €293,919 | ▼ 38.9% |
| Trade receivables40 | €57,500 | €172,500 | €68 | €19,000 | €252,190 | ▲ 1,227% |
| Other amounts receivable41 | €811 | €1,138 | €404,502 | €461,886 | €41,729 | ▼ 91.0% |
| Current investments50/53 | €2.9m | €2.9m | €2.7m | €3.0m | €2.4m | ▼ 20.2% |
| Other investments51/53 | - | - | €2.7m | €3.0m | €2.4m | ▼ 20.2% |
| Cash at bank and in hand54/58 | €21,387 | €49,298 | €113,768 | €81,218 | €1.1m | ▲ 1,216% |
| Deferred charges and accrued income490/1 | €82,660 | €9,871 | €12,112 | €40,028 | €14,078 | ▼ 64.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.7m | €14.9m | €14.9m | €15.6m | €15.8m | ▲ 1.5% |
| Equity10/15 | €11.7m | €11.9m | €11.9m | €12.8m | €14.0m | ▲ 9.5% |
| Contributions10/11 | €11.0m | €11.0m | €11.0m | €11.0m | €11.0m | = |
| Reserves13 | €174,056 | €174,056 | €855,609 | €1.8m | €3.0m | ▲ 68.1% |
| Non-distributable reserves130/1 | €174,056 | €174,056 | €174,056 | €0 | - | - |
| Reserves not available under the articles1311 | €174,056 | €174,056 | €174,056 | €0 | - | - |
| Distributable reserves133 | - | - | €681,553 | €1.8m | €3.0m | ▲ 68.1% |
| Profit (loss) carried forward14 | €492,527 | €681,266 | €0 | - | - | - |
| Amounts payable17/49 | €3.0m | €3.1m | €3.0m | €2.8m | €1.8m | ▼ 35.8% |
| Amounts payable after more than one year17 | €1.1m | €1.1m | €2.0m | €2.5m | €1.5m | ▼ 40.8% |
| Financial debts170/4 | €1.1m | €1.1m | €2.0m | €2.2m | €1.1m | ▼ 49.7% |
| Credit institutions173 | - | - | €985,523 | €856,020 | €34,593 | ▼ 96.0% |
| Other loans174 | - | - | €1.1m | €1.3m | €1.1m | ▼ 19.2% |
| Other amounts payable178/9 | - | - | - | €362,057 | €405,816 | ▲ 12.1% |
| Amounts payable within one year42/48 | €1.9m | €2.0m | €1.0m | €215,561 | €226,595 | ▲ 5.1% |
| Current portion of amounts payable after more than one year42 | €1.2m | €1.2m | €130,065 | €130,837 | €22,816 | ▼ 82.6% |
| Financial debts43 | - | - | - | €352 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €352 | €0 | ▼ 100% |
| Trade debts44 | €34,519 | €15,328 | €141,438 | €12,304 | €12,036 | ▼ 2.2% |
| Suppliers440/4 | €34,519 | €15,328 | €141,438 | €12,304 | €12,036 | ▼ 2.2% |
| Advances received on contracts in progress46 | - | - | - | - | €17,000 | - |
| Taxes, remuneration and social security45 | €80,607 | €16,298 | €24,177 | €60,282 | €89,553 | ▲ 48.6% |
| Taxes450/3 | €80,607 | €16,298 | €10,717 | €44,753 | €74,189 | ▲ 65.8% |
| Remuneration and social security454/9 | - | - | €13,460 | €15,529 | €15,364 | ▼ 1.1% |
| Other amounts payable47/48 | €612,339 | €730,991 | €708,466 | €11,786 | €85,191 | ▲ 623% |
| Accrued charges and deferred income492/3 | - | - | €741 | €41,245 | €63,230 | ▲ 53.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €232,399 | €188,739 | €287 | €935,743 | €1.3m | ▲ 41.1% |
| + Depreciation and write-downs630 | €29,609 | €30,994 | €16,164 | €35,073 | €35,073 | = |
| Operating cash flow (approximation) | €262,008 | €219,733 | €16,451 | €970,816 | €1.4m | ▲ 39.6% |
| Investment in fixed assets (approximation) | - | -€154,093 | -€100,780 | -€408,757 | -€80,332 | ▲ 80.3% |
| Change in cash | - | €27,911 | €64,470 | -€32,550 | €987,822 | ▲ 3,135% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €1.3m ▲41.1%
Net result €1.3m, the highest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
31-12
Financial
Liquidity times 5current ratio 17.93
Current ratio from 3.55 to 17.93; short-term debt falls from €1.0m to €215,561.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €287 ▼99.8%
Net result drops to €287, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Pittem · 1 establishment unit since 2017
Ground area
8,682 m²
Building footprint
1.2 ha
Volume, LiDAR
31,941 m³
Parcel 37011A1408/00X000, Flanders · tallest building 9.2 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
LINACO
since 20172.268.912.548
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011A1408/00X000 | Flanders | 8,682 m² | 1 · 1.2 ha | 9.2 m |
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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 1,380 EUR awarded · 1,380 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,380 EUR | 1,380 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
6488K7K6P878Y0Q4UV29
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,771. 5,120 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-09-2017
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
66199Other activities auxiliary to financial services, excluding insurance and pension funding
Contact
E-mail
dverkinderen@dvfresh.be
Scores and ratios are computed by Checked and are not a credit decision.