LINODECOR
ActiveSummary
LINODECOR has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22,434 and a net result of €28,064. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 34% of 28281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency57▼-12
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.42 in 2024; short-term debt: 56.7% and cash: 18.8% of total assets), and 67.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
32.5%
Return on assets
40.6%
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 20-05-2026, 72 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
72 d early
2024
41 d early
2023
30 d early
2022
41 d early
2021
52 d early
2020
50 d early
2019
35 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 46 days before 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 20 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€22,434▲ 56.1%
2024 · €14,370
Total assets
€69,120▲ 112%
2024 · €32,563
Net result
€28,064▲ 115%
2024 · €13,039
Working capital
€8,276▲ 9.8%
2024 · €7,539
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,030€27,742▲ 452%€13,084▼ 52.8%€17,100▲ 30.7%€39,051▲ 128%
Net result€3,334within the sector's middle half€20,457within the sector's middle half▲ 514%€8,964within the sector's middle half▼ 56.2%€13,039within the sector's middle half▲ 45.5%€28,064within the sector's middle half▲ 115%
Equity€9,967below the sector's middle half▲ 34.1%€17,268below the sector's middle half▲ 73.2%€13,104below the sector's middle half▼ 24.1%€14,370below the sector's middle half▲ 9.7%€22,434within the sector's middle half▲ 56.1%
Total assets€19,422below the sector's middle half▼ 25.4%€30,541below the sector's middle half▲ 57.2%€35,303below the sector's middle half▲ 15.6%€32,563below the sector's middle half▼ 7.8%€69,120within the sector's middle half▲ 112%
Debt€9,455▼ 49.2%€13,273▲ 40.4%€22,199▲ 67.2%€18,193▼ 18.0%€46,686▲ 157%
Working capital€6,529within the sector's middle half▲ 122%€8,001within the sector's middle half▲ 22.5%€4,781within the sector's middle half▼ 40.2%€7,539within the sector's middle half▲ 57.7%€8,276within the sector's middle half▲ 9.8%
Solvency51.3%within the sector's middle half▲ 22.8pp56.5%within the sector's middle half▲ 5.2pp37.1%within the sector's middle half▼ 19.4pp44.1%within the sector's middle half▲ 7.0pp32.5%within the sector's middle half▼ 11.7pp
Current ratio1.69within the sector's middle half▲ 0.531.60within the sector's middle half▼ 0.091.22within the sector's middle half▼ 0.381.42within the sector's middle half▲ 0.201.21within the sector's middle half▼ 0.21
Return on assets (ROA)17.2%above the sector's middle half▲ 43.9pp67.0%above the sector's middle half▲ 49.8pp25.4%above the sector's middle half▼ 41.6pp40.0%above the sector's middle half▲ 14.7pp40.6%above the sector's middle half▲ 0.6pp
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 128% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69,120
Fixed assets
€21,625 ▲ 204%
Current assets
€47,495 ▲ 86.6%
Equity and liabilities €69,120
Equity
€22,434 ▲ 56.1%
Debt
€46,686 ▲ 157%
Debt's share of the balance-sheet total rises from 55.9% to 67.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€41,747▲
2024 · €19,677
Cash flow
€30,760▲
2024 · €15,616
Quick ratio
1.21▼
2024 · 1.41
Debt to equity
2.08▲
2024 · 1.27
ROE
125.1%▲
2024 · 90.7%
Interest coverage
19.03▲
2024 · 14.61
Debt ≤ 1 year
€39,219▲
2024 · €17,918
Debt > 1 year
€7,192
Income taxes
€9,011▲
2024 · €2,716
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 31,370 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €12,401 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,049 | €1,172 | €2,400 | €2,577 | €2,696 | ▲ 4.6% |
| Other operating charges640/8 | €9,923 | €960 | €772 | €4,061 | €482 | ▼ 88.1% |
| Gross operating margin9900 | €16,003 | €29,874 | €16,257 | €23,738 | €42,229 | ▲ 77.9% |
| Operating profit (loss)9901 | €5,030 | €27,742 | €13,084 | €17,100 | €39,051 | ▲ 128% |
| Financial income75/76B | €6 | €10 | - | €2 | €218 | ▲ 11,429% |
| Recurring financial income75 | €6 | €10 | - | €2 | €218 | ▲ 11,429% |
| Financial charges65/66B | €771 | €1,308 | €499 | €1,347 | €2,194 | ▲ 62.9% |
| Recurring financial charges65 | €771 | €1,308 | €499 | €1,347 | €2,194 | ▲ 62.9% |
| Profit (loss) for the period before taxes9903 | €4,265 | €26,444 | €12,585 | €15,755 | €37,075 | ▲ 135% |
| Income taxes67/77 | €931 | €5,987 | €3,621 | €2,716 | €9,011 | ▲ 232% |
| Profit (loss) for the period9904 | €3,334 | €20,457 | €8,964 | €13,039 | €28,064 | ▲ 115% |
| Profit (loss) for the period to be appropriated9905 | €3,334 | €20,457 | €8,964 | €13,039 | €28,064 | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19,422 | €30,541 | €35,303 | €32,563 | €69,120 | ▲ 112% |
| Fixed assets21/28 | €3,438 | €9,267 | €8,598 | €7,106 | €21,625 | ▲ 204% |
| Tangible fixed assets22/27 | €2,450 | €8,278 | €7,609 | €6,117 | €20,637 | ▲ 237% |
| Plant, machinery and equipment23 | €374 | €5,810 | €6,150 | €4,981 | €3,327 | ▼ 33.2% |
| Furniture and vehicles24 | €2,076 | €2,469 | €1,460 | €1,136 | €15,911 | ▲ 1,300% |
| Other tangible fixed assets26 | - | - | - | - | €1,399 | - |
| Financial fixed assets28 | €989 | €989 | €989 | €989 | €989 | = |
| Current assets29/58 | €15,984 | €21,274 | €26,705 | €25,458 | €47,495 | ▲ 86.6% |
| Stocks and contracts in progress3 | €305 | €280 | €280 | €255 | €230 | ▼ 9.8% |
| Stocks30/36 | €305 | €280 | €280 | €255 | €230 | ▼ 9.8% |
| Amounts receivable within one year40/41 | €9,896 | €8,995 | €19,477 | €11,429 | €31,548 | ▲ 176% |
| Trade receivables40 | €8,957 | €7,829 | €16,211 | €8,765 | €20,053 | ▲ 129% |
| Other amounts receivable41 | €939 | €1,166 | €3,266 | €2,664 | €11,495 | ▲ 331% |
| Cash at bank and in hand54/58 | €4,043 | €9,634 | €4,086 | €11,617 | €13,019 | ▲ 12.1% |
| Deferred charges and accrued income490/1 | €1,740 | €2,365 | €2,862 | €2,156 | €2,698 | ▲ 25.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19,422 | €30,541 | €35,303 | €32,563 | €69,120 | ▲ 112% |
| Equity10/15 | €9,967 | €17,268 | €13,104 | €14,370 | €22,434 | ▲ 56.1% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Reserves13 | €10,059 | €10,059 | €6,700 | €6,700 | €14,764 | ▲ 120% |
| Non-distributable reserves130/1 | €1,859 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | - | - | - | - | - |
| Distributable reserves133 | €8,200 | €10,059 | €6,700 | €6,700 | €14,764 | ▲ 120% |
| Profit (loss) carried forward14 | -€6,289 | €1,011 | €207 | €1,473 | €1,473 | = |
| Amounts payable17/49 | €9,455 | €13,273 | €22,199 | €18,193 | €46,686 | ▲ 157% |
| Amounts payable after more than one year17 | - | - | - | - | €7,192 | - |
| Financial debts170/4 | - | - | - | - | €7,192 | - |
| Amounts payable within one year42/48 | €9,455 | €13,273 | €21,924 | €17,918 | €39,219 | ▲ 119% |
| Current portion of amounts payable after more than one year42 | - | €2,640 | €2,689 | €2,684 | €6,182 | ▲ 130% |
| Trade debts44 | €7,346 | €3,568 | €13,115 | €8,308 | €7,814 | ▼ 5.9% |
| Suppliers440/4 | €7,346 | €3,568 | €13,115 | €8,308 | €7,814 | ▼ 5.9% |
| Taxes, remuneration and social security45 | €1,863 | €3,111 | €2,180 | €3,394 | €5,223 | ▲ 53.9% |
| Taxes450/3 | €1,863 | €3,111 | €2,180 | €3,394 | €5,223 | ▲ 53.9% |
| Other amounts payable47/48 | €246 | €3,953 | €3,939 | €3,533 | €20,000 | ▲ 466% |
| Accrued charges and deferred income492/3 | - | - | €275 | €275 | €275 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,334 | €20,457 | €8,964 | €13,039 | €28,064 | ▲ 115% |
| + Depreciation and write-downs630 | €1,049 | €1,172 | €2,400 | €2,577 | €2,696 | ▲ 4.6% |
| Operating cash flow (approximation) | €4,383 | €21,629 | €11,365 | €15,616 | €30,760 | ▲ 97.0% |
| Investment in fixed assets (approximation) | - | -€7,001 | -€1,732 | -€1,085 | -€17,215 | ▼ 1,487% |
| Change in cash | - | €5,591 | -€5,547 | €7,530 | €1,403 | ▼ 81.4% |
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
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €28,064 ▲115%
Operating result €39,051, net result €28,064, both a record.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3,334
Net result €3,334 after 3 loss-making years.
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€6,956
Net result drops to -€6,956, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Dendermonde · 1 establishment unit since 1995
Ground area
143 m²
Building footprint
128 m²
Volume, LiDAR
963 m³
2 parcels, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LINODECOR BVBA
since 19952.074.173.071
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42006C0099/00G000 | Flanders | 90 m² | 1 · 75 m² | 12.2 m · 2 fl. |
| 42006C0098/00K000 | Flanders | 53 m² | 1 · 53 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 7,868 companies in sector 43341 we hold annual accounts for 2,665. 2,110 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
Founded03-10-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456116566
Also
9925:BE0456116566
Registered
01-02-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.