LITHOSS has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €867,977. Equity has been growing by about 32% per year since 2018. Its solvency ranks better than 64% of 6,172 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Score breakdownlowers riskLiquidity: current ratio 2.28, cash €1.4mFounded in 2005Equity €2.0m (57.8% of total assets)Size: 10.7 FTE, total assets €3.5mShow the evidence
Checked score
Score 2025
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
98/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 88% of small companies in wholesale trade (NACE 46)
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
Strong
Solvency83+16
equity 57.8% of total assets
Liquidity80+36
short-term debt 41.9% · cash 40.9%
Profitability100=
return on assets 24.9%
Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
< 0.1%Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Sector median 0.2% (4,372 companies, NACE 46, small)
Last 24 months12-2024: < 0.1%lowest value01-2025: < 0.1%● unchanged vs 12-2024lowest value02-2025: < 0.1%● unchanged vs 01-2025lowest value03-2025: < 0.1%● unchanged vs 02-2025lowest value04-2025: < 0.1%● unchanged vs 03-202505-2025: < 0.1%● unchanged vs 04-202506-2025: < 0.1%● unchanged vs 05-202507-2025: < 0.1%● unchanged vs 06-202508-2025: < 0.1%● unchanged vs 07-202509-2025: < 0.1%● unchanged vs 08-202510-2025: 0.1%▲ +0.1 percentage points vs 09-202511-2025: 0.2%▲ +0.1 percentage points vs 10-202512-2025: 0.2%● unchanged vs 11-202501-2026: 0.2%● unchanged vs 12-202502-2026: 0.2%● unchanged vs 01-202603-2026: 0.2%● unchanged vs 02-202604-2026: 0.2%● unchanged vs 03-202605-2026: 0.2%● unchanged vs 04-202606-2026: 0.2%● unchanged vs 05-202607-2026: 0.3%▲ +0.1 percentage points vs 06-2026highest value08-2026: < 0.1%▼ -0.3 percentage points vs 07-202609-2026: < 0.1%● unchanged vs 08-202610-2026: < 0.1%● unchanged vs 09-202611-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €190,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.28 (1.63 in 2024), above the usual 1.5. Short-term debt is 41.9% and cash 40.9% of total assets. 42.2% of the assets are financed with debt and provisions.
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 46, small). It does better than 67% of them on solvency, 93% on liquidity, 97% on profitability and 95% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
Credit check for an amount and term of your choice
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 67 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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 30 May (4 of the last 5 accounts filed within 70 days either side of that date).
The EBIT margin is the share of each euro of revenue left from ordinary operations. The higher it is, the more room the company has to absorb a setback.
The net result is what is left after all costs and taxes. One loss year is not an alarm on its own. After several loss years in a row, it pays to find out why.
Working capital is what is left when the company pays its short-term debts with its short-term assets. Positive means it can pay its bills in the short term.
Net result€0.3m-€0.5m▲ 60.5%€0.4mabove the sector's middle half▼ 19.2%€0.4mabove the sector's middle half▲ 7.4%€0.6mabove the sector's middle half▲ 27.4%€0.8mabove the sector's middle half▲ 46.4%€0.8mabove the sector's middle half▲ 1.0%€0.9mabove the sector's middle half▲ 5.8%
Equity€0.7m-€0.9m▲ 28.5%€1.3mabove the sector's middle half▲ 44.5%€1.8mabove the sector's middle half▲ 33.1%€2.3mabove the sector's middle half▲ 31.7%€3.1mabove the sector's middle half▲ 35.2%€1.1mwithin the sector's middle half▼ 63.4%€2.0mwithin the sector's middle half▲ 76.0%
Total assets€2.0m-€2.2m▲ 13.4%€2.2mwithin the sector's middle half▼ 1.5%€2.5mwithin the sector's middle half▲ 14.3%€3.4mabove the sector's middle half▲ 34.9%€4.1mabove the sector's middle half▲ 23.3%€2.7mabove the sector's middle half▼ 34.0%€3.5mwithin the sector's middle half▲ 27.4%
Working capital€0.7m-€0.9m▲ 21.4%€1.3mabove the sector's middle half▲ 40.1%€1.6mabove the sector's middle half▲ 23.8%€2.1mabove the sector's middle half▲ 36.6%€2.9mabove the sector's middle half▲ 38.0%€1.0mabove the sector's middle half▼ 66.1%€1.9mwithin the sector's middle half▲ 87.1%
Solvency36.4%-41.3%▲ 4.8pp60.5%within the sector's middle half▲ 19.2pp70.4%above the sector's middle half▲ 9.9pp68.7%above the sector's middle half▼ 1.7pp75.4%above the sector's middle half▲ 6.6pp41.8%within the sector's middle half▼ 33.5pp57.8%within the sector's middle half▲ 15.9pp
Current ratio1.73-1.80▲ 0.072.74within the sector's middle half▲ 0.933.12above the sector's middle half▲ 0.383.03above the sector's middle half▼ 0.093.88above the sector's middle half▲ 0.851.63within the sector's middle half▼ 2.252.28within the sector's middle half▲ 0.65
Return on assets (ROA)16.0%-22.7%▲ 6.7pp18.6%above the sector's middle half▼ 4.1pp17.5%above the sector's middle half▼ 1.1pp16.5%above the sector's middle half▼ 1.0pp19.6%above the sector's middle half▲ 3.1pp30.0%above the sector's middle half▲ 10.4pp24.9%above the sector's middle half▼ 5.1pp
Staff (FTE)7.4-7.6▲ 2.7%8.8above the sector's middle half▲ 15.8%9.1above the sector's middle half▲ 3.4%10above the sector's middle half▲ 9.9%10.8above the sector's middle half▲ 8.0%10.8above the sector's middle half=10.7within the sector's middle half▼ 0.9%
abovewithinbelowThe sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 10% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.5m
95.3%
Fixed assets€162,337 ▲ 0.8%
Current assets€3.3m ▲ 29.1%
Equity and liabilities €3.5m
57.8%
42.2%
Equity€2.0m ▲ 76.0%
Debt€1.5m ▼ 7.5%
Debt's share of the balance-sheet total falls from 58.2% to 42.2%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.3m▲
2024 · €1.2m
Cash flow
€920,946▲
2024 · €877,133
Quick ratio
1.32▲
2024 · 0.69
Debt to equity
0.73▼
2024 · 1.39
ROE
43.2%▼
2024 · 71.8%
Interest coverage
34.44▲
2024 · 33.84
Debt ≤ 1 year
€1.5m▼
2024 · €1.6m
Income taxes
€308,557▼
2024 · €312,065
Staff costs
€568,628▼
2024 · €593,637
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
social balance sheet
Item
31-12-2022
31-12-2023
31-12-2024
31-12-2025
Employees at the balance-sheet date
12
10
12
11
full-time
9
8
10
9
part-time
3
2
2
2
in full-time equivalents
11.6
9.7
11.6
10.6
Average over the year, in full-time equivalents
10
10.8
10.8
10.7
On a permanent contract
9
10
12
11
Joined
3
0
2
0
Left
2
2
0
1
Training hours
-
4
-
-
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
fixed assets acquired
Item
2022
2023
2024
2025
Tangible fixed assets
€34,556
€52,635
€34,560
€54,238
Depreciation and write-downs of the year
€49,881
€50,317
€56,500
€52,969
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
Flemish government
The Flemish government granted these subsidies and aid to the company. Such aid usually goes with a project, with conditions the company must meet.
4 entries · €30,417 · €30,417 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 59 lines
Balance sheetCode20242025
Assets
Total assets20/58€2.7m€3.5m▲
Fixed assets21/28€0.2m€0.2m▲
Intangible fixed assets21€0.003m€0.001m▼
Tangible fixed assets22/27€0.2m€0.2m▲
Land and buildings22€0.06m€0.05m▼
Plant, machinery and equipment23€0.06m€0.03m▼
Furniture and vehicles24€0.04m€0.08m▲
Current assets29/58€2.6m€3.3m▲
Stocks and contracts in progress3€1.5m€1.4m▼
Stocks30/36€1.5m€1.4m▼
Amounts receivable within one year40/41€0.5m€0.5m▼
Trade receivables40€0.5m€0.4m▼
Other amounts receivable41€0.03m€0.01m▼
Cash at bank and in hand54/58€0.5m€1.4m▲
Deferred charges and accrued income490/1€0.05m€0.04m▼
Equity and liabilities
Total equity and liabilities10/49€2.7m€3.5m▲
Equity10/15€1.1m€2.0m▲
Contributions10/11€0.08m€0.08m=
Capital10€0.08m€0.08m=
Issued capital100€0.08m€0.08m=
Reserves13€0.8m€1.9m▲
Non-distributable reserves130/1€0.008m€0.008m=
Legal reserve130€0.008m€0.008m=
Tax-exempt reserves132€0.8m€0.6m▼
Distributable reserves133€0€1.3m▲
Profit (loss) carried forward14€0.2m€0.06m▼
Amounts payable17/49€1.6m€1.5m▼
Amounts payable within one year42/48€1.6m€1.5m▼
Trade debts44€0.9m€0.9m▼
Suppliers440/4€0.9m€0.9m▼
Advances received on contracts in progress46€0.2m€0.2m▼
Taxes, remuneration and social security45€0.4m€0.3m▼
Taxes450/3€0.3m€0.2m▼
Remuneration and social security454/9€0.1m€0.09m▼
Other amounts payable47/48€0€0.06m▲
Accrued charges and deferred income492/3€0.01m€0.01m▼
Income statementCode20242025
Remuneration, social security and pensions62€0.6m€0.6m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.06m€0.05m▼
Other operating charges640/8€0.02m€0.01m▼
Gross operating margin9900€1.8m€1.8m▲
Operating profit (loss)9901€1.1m€1.2m▲
Financial income75/76B€0.07m€0.01m▼
Recurring financial income75€0.07m€0.01m▼
Financial charges65/66B€0.03m€0.04m▲
Recurring financial charges65€0.03m€0.04m▲
Profit (loss) for the period before taxes9903€1.1m€1.2m▲
Income taxes67/77€0.3m€0.3m▼
Profit (loss) for the period9904€0.8m€0.9m▲
Transfer from tax-exempt reserves789€0.2m€0.5m▲
Transfer to tax-exempt reserves689€0€0.3m▲
Profit (loss) for the period to be appropriated9905€1.0m€1.1m▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.0m€1.4m▲
Profit (loss) brought forward from the previous period14P€0.007m€0.2m▲
Transfer from equity791/2€2.0m€0▼
Transfer to equity691/2€0€1.3m▲
To other reserves6921€0€1.3m▲
Profit to be distributed694/7€2.8m€0▼
Return on contributions (dividend)694€2.8m€0▼
Social balance sheet
Average headcount (FTE)908710.810.7▼
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
The figures are counted, not predicted. They describe the group, not LITHOSS.
In July 2024, 20,136 companies had the same profile as LITHOSS has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
Small
20 years or older
solvency 30% or more
a profit of 5% of the balance sheet or more
95.0%was still going
4.7%stopped otherwise
0.2%went bankrupt
That fits the bankruptcy probability of LITHOSS itself: < 0.1% 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.
The companies in ten equal groups, from the lowest to the highest expected share
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 20,136 companies, not a prediction for LITHOSS. 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.
Director (not named in the articles) · since 22-12-2023 · earlier director, until 15-01-2024 · Public limited company · permanent representative: BEEUWSAERT Tony · also on the board of 6 other companies · listed in the 2025 annual accounts, filed on 13-07-2026
Each bar is one period in a function, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Gazette deed1 director appointed, 3 directors resigning, 2 reappointed
Change of role: ACCOFORM, from director to managing director · Resignations: ENTER PRIES (director) and DECLERCK Sabine (director) · Reappointments: ACCOFORM (director) and DECLERCK Sabine (director)19 points ▸
General meeting, 22-12-2023
Amendment of the articles, mentioned 2 times in the deed
Purpose change
Approval, “verslag goedgekeurd, geen opmerkingen” (deed in Dutch)
Capital, €75,000
General meeting, “vierde beslissing” (deed in Dutch)
Power of attorney
General meeting, “akte van beëindiging mandaat ENTER PRIES en aanpassing KBO” (deed in Dutch)
Director resignation, ENTER PRIES (director)
Director resignation, ACCOFORM (director)
Director resignation, DECLERCK Sabine (director)
Director reappointment, ACCOFORM (director (not named in the articles))
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
On 6 July 2005, LITHOSS was incorporated.1Total assets went from €2.0m in 2018 to €3.5m in 2025 and headcount from 7.4 to 10.7 full-time equivalents.2