LINSTAVER
ActiveSummary
The computed 12-month bankruptcy probability of LINSTAVER is 1.6% (moderate). For LINSTAVER, at least two filing cycles of the annual accounts are missing. The 2021 annual accounts show equity of €53,878 and a net result of -€30,851. Equity is shrinking by ~17.7% per year across the filed fiscal years. Its solvency ranks better than 11% of 26746 sector peers (fiscal year 2021). The company has been active since 1993 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags).
Checked score
No current score
Figures too old
The available figures for FY 2021 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2021 · tick = 2020
Profitability33▼-5
Solvency28▼-3
Growth32▼-20
Track record84
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 2021Solvency, return and age of the figures
Solvency
3.4%
Return on assets
-2%
Age of the figures
63 mo
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
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-06-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-06-2022 close31-01-2023 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2021 was due by 31-01-2022 and was filed on 31-01-2022, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
on the day
2020
19 d early
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 3 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Late accounts filingAddress struck
History
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Financials · fiscal year 2021, micro schema
Equity
€53,878▼ 36.4%
2020 · €84,729
Total assets
€1.6m▲ 8.2%
2020 · €1.5m
Net result
-€30,851
2020 · €1,367
Working capital
€41,090▼ 39.0%
2020 · €67,395
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line201920202021
Operating result€17,976--€56,572-€57,034▼ 0.8%
Net result€11,182-€1,367within the sector's middle half▼ 87.8%-€30,851below the sector's middle half
Equity€83,362-€84,729within the sector's middle half▲ 1.6%€53,878within the sector's middle half▼ 36.4%
Total assets€1.3m-€1.5mabove the sector's middle half▲ 10.8%€1.6mabove the sector's middle half▲ 8.2%
Debt€1.2m-€1.4m▲ 11.4%€1.5m▲ 10.9%
Working capital€62,050-€67,395within the sector's middle half▲ 8.6%€41,090within the sector's middle half▼ 39.0%
Solvency6.3%-5.8%below the sector's middle half▼ 0.5pp3.4%below the sector's middle half▼ 2.4pp
Current ratio1.05-1.05within the sector's middle half=1.03within the sector's middle half▼ 0.02
Return on assets (ROA)0.8%-0.1%below the sector's middle half▼ 0.8pp-2.0%below the sector's middle half▼ 2.0pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
The operating result stays negative: a loss of €57,034 in 2021 against €56,572 in 2020; the loss grows and 2021 has the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €1.6m
Fixed assets
€12,788 ▼ 25.0%
Current assets
€1.6m ▲ 8.6%
Equity and liabilities €1.6m
Equity
€53,878 ▼ 36.4%
Debt
€1.5m ▲ 10.9%
Debt's share of the balance-sheet total rises from 94.2% to 96.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€52,488▼
2020 · -€52,290
Cash flow
-€26,304▼
2020 · €5,649
Quick ratio
0.94▼
2020 · 0.96
ROE
-57.3%▼
2020 · 1.6%
Debt ≤ 1 year
€1.5m▲
2020 · €1.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,854 | €4,283 | €4,546 | ▲ 6.2% |
| Gross operating margin9900 | €24,216 | -€51,277 | €1,882 | ▲ 104% |
| Operating profit (loss)9901 | €17,976 | -€56,572 | -€57,034 | ▼ 0.8% |
| Recurring financial income75 | - | €59,167 | €79,129 | ▲ 33.7% |
| Recurring financial charges65 | - | €397 | €52,945 | ▲ 13,226% |
| Profit (loss) for the period before taxes9903 | €17,976 | €2,197 | -€30,851 | ▼ 1,504% |
| Income taxes67/77 | €6,794 | €830 | - | - |
| Profit (loss) for the period9904 | €11,182 | €1,367 | -€30,851 | ▼ 2,358% |
| Profit (loss) for the period to be appropriated9905 | €11,182 | €1,367 | -€30,851 | ▼ 2,358% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.3m | €1.5m | €1.6m | ▲ 8.2% |
| Formation expenses20 | - | €284 | - | - |
| Fixed assets21/28 | €21,313 | €17,050 | €12,788 | ▼ 25.0% |
| Intangible fixed assets21 | €21,313 | €17,050 | €12,788 | ▼ 25.0% |
| Current assets29/58 | €1.3m | €1.4m | €1.6m | ▲ 8.6% |
| Stocks and contracts in progress3 | €170,991 | €128,854 | €128,854 | = |
| Amounts receivable within one year40/41 | €457,758 | €506,231 | €593,483 | ▲ 17.2% |
| Cash at bank and in hand54/58 | €52,711 | €53,934 | €180 | ▼ 99.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.3m | €1.5m | €1.6m | ▲ 8.2% |
| Equity10/15 | €83,362 | €84,729 | €53,878 | ▼ 36.4% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €17,332 | €18,698 | €18,698 | = |
| Profit (loss) carried forward14 | €4,531 | €4,531 | -€26,320 | ▼ 681% |
| Amounts payable17/49 | €1.2m | €1.4m | €1.5m | ▲ 10.9% |
| Amounts payable within one year42/48 | €1.2m | €1.4m | €1.5m | ▲ 10.9% |
| Trade debts44 | €25,195 | €24,826 | €28,828 | ▲ 16.1% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,182 | €1,367 | -€30,851 | ▼ 2,358% |
| + Depreciation and write-downs630 | €4,854 | €4,283 | €4,546 | ▲ 6.2% |
| Operating cash flow (approximation) | €16,036 | €5,649 | -€26,304 | ▼ 566% |
| Investment in fixed assets (approximation) | - | -€20 | -€284 | ▼ 1,325% |
| Change in cash | - | €1,222 | -€53,754 | ▼ 4,497% |
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
2026
03-04
KBO administration
Late accounts filing
2025
07-05
KBO administration
Address struck
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Weakest financial yearnet -€30,851
Net result drops to -€30,851, the lowest in the series.
12-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
25-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 25 days late
2018
23-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 203 days late
2016
17-02
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 17 days late
2015
19-01
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
02-01
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
29-01
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Ganshoren · 1 establishment unit since 2015
Ground area
8,253 m²
Building footprint
8,658 m²
Volume, LiDAR
90,241 m³
2 parcels, Brussels · tallest building 13.1 m, ±4 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Normandiëstraat 14-22, 1081 Koekelberg
since 20152.244.290.780
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21392A0008/00B006 | Brussels | 7,837 m² | 1 · 8,238 m² | 13.1 m · 4 fl. |
| 21492B0117/00H005 | Brussels | 416 m² | 1 · 419 m² | 12.5 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 38,490 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-07-1993
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450582618
Registered
06-02-2026
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.