Equity
€463,946 ▼ 57.0%
LISTEN paid out €100,000 in dividends. That is 142% of the 2025 profit.
LISTEN
Lifetime
19 annual accounts with figures on one time axis, 21 filings since 2005peak €932,525 (2019)
€699,935▼ 18.5%
peak €243,610 (2019)
€70,303▼ 57.9%
peak €1.1m (2024)
€463,946▼ 57.0%
€456,072▲ 1.4%
peak 9.6 FTE (2018)
8.1 FTE▲ 3.8%
Board3 names since 2019
2 directorsEvelyne Guyot and 1 other
Owners2 names in the annual accounts
66.7%G-Value and 1 other
Documentsfilings and deeds
07-08-20267 days late
2025financial year
Gross margin from €859,094 to €699,935Result from €166,839 to €70,303Demerger proposal: LISTEN splits off to LISTEN REAL ESTATE 21-103 directors reappointed 09-10Dividend €100,000Equity from €1.1m to €463,946
Key points
from the 2025 annual accountsResult
€70,303 ▼ 57.9%
The result fell in 2025 from €166,839 to €70,303.
Turnover
≈ €1.4m estimated
The accounts state no turnover.
Staff
8 employees on 31-12-2025
In 2025, 3 people joined and 3 left.
Filings
21 annual accounts since 2005
Nine of the last ten came late. The 2021 accounts came latest: 61 days after the end of the period.
Restructuring
2025
Branch transferred to LISTEN REAL ESTATE. Contribution on 10-10-2025.
Equity -57%: branch of activity transferred
Checked score
86
Excellent
Financially stronger than 31% of micro companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.2%▲ +0.1 percentage points vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.1 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Size: 8.1 FTE, total assets €920,018
lowers risk
Founded in 2004
Equity €463,946 (50.4% of total assets)
Profit of €70,303 (financial year 2025)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 50% of them on solvency, 21% on liquidity, 41% on profitability and 12% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as LISTEN has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LISTEN itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 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 31,368 companies, not a prediction for LISTEN. 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.
Credit verdict
Credit of up to €35,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.93 (2.0 in 2024), above the usual 1.5. Short-term debt is 49.6% and cash 9.8% of total assets. 49.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 7 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
7 days late
2024
17 days early
2023
21 days late
2022
28 days late
2021
61 days late
2020
24 days late
2019
22 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 21 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 August (5 of the last 5 accounts filed within 39 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- G-Value 66.7%score 93equity €1.4m (2025) · 2025 annual accounts of G-Value
- MAXMA 30%equity €10.2m (2025) · 30-09-2025 annual accounts of MAXMA
Recent changes
Demerger: LISTEN splits off to LISTEN REAL ESTATE
Capital increase of €31,944.42 to €61,500 · Capital from €29,555.58 to €61,500 · Permanent representative: Philippe Geerts · General meeting of 28-11-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0867269773
Demerger proposal: LISTEN splits off to LISTEN REAL ESTATE
Permanent representatives: Philippe GEERTS and Jean MARGREVE · Capital of €62,000, 1,000 shares · Capital of €15,000, 15,000 shares · Gazette deed
3 directors reappointed
G-Value S.R.L. (managing director), Maxma S.A. and Evelyne Guyot · Permanent representatives: GEERTS Philippe and MARGREVE Jean-Marie · General meeting of 28-06-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| LISTEN Sprimont | €0.9m | €0.7m | 50.4% | 8.1 |
| SBS ENVIRONNEMENT Chaudfontaine | €0.8m | €0.6m | 76.5% | 5 |
| CY SALES & MARKETING Ghent | €0.7m | €0.4m | 49.0% | 7.4 |
| EU-Turn Etterbeek | €1.3m | €0.5m | 14.1% | 8.2 |
| KTM Sportmotorcycle Benelux Gembloux | €0.7m | €1.2m | 53.1% | 7.4 |
| Kynetec Belgium Kontich | €1.4m | €1.1m | 59.4% | 9.1 |
| EUROPEAN DEVELOPMENT FINANCE INSTITUTIONS Brussels | €1.2m | €1.4m | 64.6% | 8.4 |
These companies have the same main activity as LISTEN: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €726,000 and €1.4m, founded between 2002 and 2006.
Official details
Source: KBO- Status
- Active since 16-09-2004Normal situation
- Activity
- Market research and public opinion pollingNACE 73200and 3 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.139.370.6324342 Awans, since 16-09-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 14-01-2026
Insights on LISTEN
LISTEN has existed since 2004. The gross margin grew from €431,983 in 2007 to €699,935 in 2025 and staff from 5 to 8.1 full-time equivalents.
Solvency fell in 2025 from 70.6% to 50.4% because of the dividend.
G-Value holds 66.7% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about LISTEN
- What is the company number of LISTEN?
- The company number of LISTEN is 0867.269.773. The VAT number is the same number with BE in front: BE 0867.269.773.
- Where is LISTEN based?
- The registered office is at Rue du Suffrage Universel 53, 4140 Sprimont.Company details
- What does LISTEN do?
- According to the KBO register, the main activity is market research and public opinion polling (NACE 73200).
- What is the legal form of LISTEN?
- LISTEN is a public limited company (NV).
- When was LISTEN founded?
- LISTEN was founded on 16-09-2004.
- Is LISTEN still active?
- Yes, LISTEN is an active enterprise in the KBO register.
- How many employees does LISTEN have?
- LISTEN had an average of 8.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does LISTEN fall under?
- In its 2025 annual accounts, LISTEN states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of LISTEN?
- The turnover in financial year 2025 is ≈ €1.4m. This figure is estimated from the gross margin of €699,935 and 37 comparable companies (NACE 73). It probably lies between €940,000 and €1.8m.
- Is LISTEN profitable?
- In financial year 2025, LISTEN made a profit of €70,303.
- Where can I find the annual accounts of LISTEN?
- LISTEN filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of LISTEN due?
- LISTEN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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