Summary
LODE 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 €82,073 and a net result of -€23,284. Equity has been shrinking by about 13% per year since 2019. Its solvency ranks better than 40% of 9,750 sector peers (NACE 64, financial year 2025). The company has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 08-10-1991 Normal situation
- Activity
- Activities of holding companies NACE 64210
- Establishment unit
- 2.054.709.824 3500 Hasselt, since 23-10-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 13-12-2025
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Loss
- €23,284
- ▼ 38.8%
- Equity
- €82,073
- ▼ 22.1%
- Total assets
- €208,604
- ▼ 13.3%
Filed on 29-06-2026, 32 days before the deadline
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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Signals
1 signal.
neutral
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 days early
2024
31 days early
2023
34 days early
2022
34 days early
2021
on the day
2020
2 days early
2019
34 days early
← 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 24 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% 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 29 June (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 33 filings
Equity
€82,073▼ 22.1%
2024 · €105,357
Net result
-€23,284▲ 38.8%
2024 · -€38,045
Total assets
€208,604▼ 13.3%
2024 · €240,529
Solvency
39.3%▼ 4.5pp
2024 · 43.8%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a loss of €7,477, smaller than the loss of €21,980 in 2024.
Operating result-€7,477
2025
Net result-€23,284
2025
Total assets€208,604
2025
Equity€82,073
2025
Debt€126,531
2025
Working capital-€105,243
2025
Return on assets (ROA)-11.2%
2025
Solvency39.3%
2025
Current ratio0.17
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€16,918-€23,943▲ 41.5%€8,080▼ 66.3%-€5,436€10,172-€21,980-€7,477▲ 66.0%
Net result-€3,386-€3,823within the sector's middle half-€12,754below the sector's middle half-€25,343below the sector's middle half▼ 98.7%-€10,916below the sector's middle half▲ 56.9%-€38,045below the sector's middle half▼ 249%-€23,284below the sector's middle half▲ 38.8%
Equity€190,243-€194,065within the sector's middle half▲ 2.0%€181,311within the sector's middle half▼ 6.6%€155,168within the sector's middle half▼ 14.4%€143,402within the sector's middle half▼ 7.6%€105,357within the sector's middle half▼ 26.5%€82,073within the sector's middle half▼ 22.1%
Total assets€381,184-€370,167within the sector's middle half▼ 2.9%€342,529within the sector's middle half▼ 7.5%€297,376within the sector's middle half▼ 13.2%€268,797within the sector's middle half▼ 9.6%€240,529within the sector's middle half▼ 10.5%€208,604within the sector's middle half▼ 13.3%
Debt€190,941-€176,102▼ 7.8%€161,218▼ 8.5%€142,207▼ 11.8%€125,395▼ 11.8%€135,171▲ 7.8%€126,531▼ 6.4%
Working capital-€36,520--€18,612within the sector's middle half▲ 49.0%-€20,913within the sector's middle half▼ 12.4%-€34,851below the sector's middle half▼ 66.6%-€42,184below the sector's middle half▼ 21.0%-€99,643below the sector's middle half▼ 136%-€105,243below the sector's middle half▼ 5.6%
Solvency49.9%-52.4%within the sector's middle half▲ 2.5pp52.9%within the sector's middle half▲ 0.5pp52.2%within the sector's middle half▼ 0.8pp53.3%within the sector's middle half▲ 1.2pp43.8%within the sector's middle half▼ 9.5pp39.3%within the sector's middle half▼ 4.5pp
Current ratio0.34-0.66within the sector's middle half▲ 0.330.63below the sector's middle half▼ 0.040.39below the sector's middle half▼ 0.230.29below the sector's middle half▼ 0.100.18below the sector's middle half▼ 0.110.17below the sector's middle half▼ 0.01
Return on assets (ROA)-0.9%-1.0%within the sector's middle half▲ 1.9pp-3.7%below the sector's middle half▼ 4.8pp-8.5%below the sector's middle half▼ 4.8pp-4.1%below the sector's middle half▲ 4.5pp-15.8%below the sector's middle half▼ 11.8pp-11.2%below the sector's middle half▲ 4.7pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208,604
Fixed assets
€187,316 ▼ 14.5%
Current assets
€21,288 ▼ 0.8%
Equity and liabilities €208,604
Equity
€82,073 ▼ 22.1%
Debt
€126,531 ▼ 6.4%
Debt's share of the balance-sheet total rises from 56.2% to 60.7%. Equity and debt are lower.
Key figures and ratios
ROE
-28.4%▲
2024 · -36.1%
Debt ≤ 1 year
€126,531▲
2024 · €121,101
Income taxes
€259▼
2024 · €266
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,686 | - | €6,372 | - | - |
| Depreciation and write-downs of the year | €13,876 | €17,691 | €14,738 | €17,339 | €16,754 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as LODE: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €150,000 and €305,000, founded between 1989 and 1998.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| LODE Heusden-Zolder | 1991 | €208,604 | €82,073 | €13,890 | - | -€23,284 | - | 2025 |
| DEN AXE Herent | 1991 | €163,130 | €93,436 | €13,113 | - | -€5,916 | - | 2025 |
| DU'ARTE Sint-Niklaas | 1989 | €150,180 | €43,921 | €14,278 | - | €5,935 | 0 | 2026 |
| FOUR HOUSES Waasmunster | 1989 | €170,750 | €103,287 | €10,862 | €39,000 | €1,096 | - | 2025 |
| HOLDING PARTENAIRES EUROPEENS D'INVESTISSEUR Namur | 1992 | €304,995 | €187,647 | €13,968 | €830 | -€3,992 | - | 2025 |
| VANKAT Leuven | 1994 | €284,355 | -€205,694 | €17,277 | - | €13,657 | - | 2025 |
| PayServices Beersel | 1998 | €214,431 | €119,714 | €12,346 | - | -€5,045 | - | 2025 |
They were chosen from the 20,095 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,366 | €13,616 | €13,876 | €17,691 | €14,738 | €17,339 | €16,754 | ▼ 3.4% |
| Other operating charges640/8 | - | - | €2,944 | €5,656 | €3,890 | €4,525 | €4,613 | ▲ 2.0% |
| Gross operating margin9900 | €36,362 | €40,336 | €24,901 | €17,912 | €28,800 | -€116 | €13,890 | - |
| Operating profit (loss)9901 | €16,918 | €23,943 | €8,080 | -€5,436 | €10,172 | -€21,980 | -€7,477 | ▲ 66.0% |
| Financial income75/76B | - | - | - | €20 | - | - | - | - |
| Recurring financial income75 | - | - | - | €20 | - | - | - | - |
| Financial charges65/66B | - | - | €18,252 | €19,616 | €17,914 | €15,799 | €15,548 | ▼ 1.6% |
| Recurring financial charges65 | €5,206 | €4,206 | €3,252 | €4,616 | €2,914 | €799 | €548 | ▼ 31.5% |
| Non-recurring financial charges66B | - | - | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Profit (loss) for the period before taxes9903 | -€3,288 | €4,356 | -€10,172 | -€25,032 | -€7,742 | -€37,779 | -€23,025 | ▲ 39.1% |
| Income taxes67/77 | €98 | €533 | €2,582 | €311 | €3,174 | €266 | €259 | ▼ 2.5% |
| Profit (loss) for the period9904 | -€3,386 | €3,823 | -€12,754 | -€25,343 | -€10,916 | -€38,045 | -€23,284 | ▲ 38.8% |
| Profit (loss) for the period to be appropriated9905 | -€3,386 | €3,823 | -€12,754 | -€25,343 | -€10,916 | -€38,045 | -€23,284 | ▲ 38.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €381,184 | €370,167 | €342,529 | €297,376 | €268,797 | €240,529 | €208,604 | ▼ 13.3% |
| Fixed assets21/28 | €362,655 | €333,658 | €307,467 | €274,776 | €251,410 | €219,071 | €187,316 | ▼ 14.5% |
| Tangible fixed assets22/27 | €196,376 | €182,760 | €171,570 | €153,878 | €145,512 | €128,173 | €111,419 | ▼ 13.1% |
| Land and buildings22 | - | - | €169,144 | €152,124 | €138,508 | €124,892 | €111,276 | ▼ 10.9% |
| Furniture and vehicles24 | - | - | €2,425 | €1,754 | €7,004 | €3,281 | €142 | ▼ 95.7% |
| Financial fixed assets28 | €166,279 | €150,898 | €135,898 | €120,898 | €105,898 | €90,898 | €75,898 | ▼ 16.5% |
| Current assets29/58 | €18,529 | €36,509 | €35,062 | €22,600 | €17,387 | €21,458 | €21,288 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €7,000 | €9,500 | €7,418 | €10,452 | €7,208 | €19,588 | €19,839 | ▲ 1.3% |
| Trade receivables40 | - | - | €7,000 | €7,764 | €3,694 | €19,036 | €19,698 | ▲ 3.5% |
| Other amounts receivable41 | - | - | €418 | €2,689 | €3,514 | €552 | €141 | ▼ 74.5% |
| Cash at bank and in hand54/58 | €8,453 | €23,855 | €24,533 | €10,834 | €8,753 | €361 | - | - |
| Deferred charges and accrued income490/1 | - | - | €3,111 | €1,313 | €1,426 | €1,509 | €1,449 | ▼ 4.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €381,184 | €370,167 | €342,529 | €297,376 | €268,797 | €240,529 | €208,604 | ▼ 13.3% |
| Equity10/15 | €190,243 | €194,065 | €181,311 | €155,168 | €143,402 | €105,357 | €82,073 | ▼ 22.1% |
| Contributions10/11 | €18,750 | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Reserves13 | €171,493 | €175,315 | €162,561 | €136,418 | €124,652 | €86,607 | €63,323 | ▼ 26.9% |
| Tax-exempt reserves132 | - | - | €28,799 | €28,799 | €28,799 | €28,799 | €28,799 | = |
| Distributable reserves133 | - | - | €133,762 | €107,619 | €95,854 | €57,809 | €34,524 | ▼ 40.3% |
| Amounts payable17/49 | €190,941 | €176,102 | €161,218 | €142,207 | €125,395 | €135,171 | €126,531 | ▼ 6.4% |
| Amounts payable after more than one year17 | €128,578 | €112,977 | €97,142 | €77,079 | €60,708 | €14,070 | - | - |
| Financial debts170/4 | - | - | €67,142 | €47,079 | €30,708 | €14,070 | - | - |
| Other amounts payable178/9 | - | - | €30,000 | €30,000 | €30,000 | - | - | - |
| Amounts payable within one year42/48 | €55,049 | €55,121 | €55,975 | €57,451 | €59,572 | €121,101 | €126,531 | ▲ 4.5% |
| Current portion of amounts payable after more than one year42 | - | - | €15,834 | €16,112 | €16,371 | €16,638 | €14,070 | ▼ 15.4% |
| Financial debts43 | - | - | - | - | - | - | €1,082 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €1,082 | - |
| Trade debts44 | €660 | €2,815 | €636 | €1,003 | €654 | €488 | €1,811 | ▲ 271% |
| Suppliers440/4 | - | - | €636 | €1,003 | €654 | €488 | €1,811 | ▲ 271% |
| Taxes, remuneration and social security45 | - | - | €2,965 | €2,759 | €513 | - | €1,903 | - |
| Taxes450/3 | - | - | €2,965 | €2,759 | €513 | - | €1,903 | - |
| Other amounts payable47/48 | - | - | €36,539 | €37,576 | €42,034 | €103,976 | €107,665 | ▲ 3.5% |
| Accrued charges and deferred income492/3 | - | - | €8,101 | €7,678 | €5,115 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,386 | €3,823 | -€12,754 | -€25,343 | -€10,916 | -€38,045 | -€23,284 | ▲ 38.8% |
| + Depreciation and write-downs630 | €14,366 | €13,616 | €13,876 | €17,691 | €14,738 | €17,339 | €16,754 | ▼ 3.4% |
| Operating cash flow (approximation) | €10,980 | €17,439 | €1,122 | -€7,652 | €3,822 | -€20,706 | -€6,530 | ▲ 68.5% |
| Investment in fixed assets (approximation) | - | €15,381 | €12,314 | €15,000 | €8,628 | €15,000 | €15,000 | = |
| Change in cash | - | €15,402 | €678 | -€13,699 | -€2,081 | -€8,391 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00212417 | NBB |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00195375 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00181541 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00160014 | |
| 30-09-2021 | micro format | 30-04-2022 | 2022-20014920 | |
| 30-09-2020 | micro format | 28-04-2021 | 2021-11600068 | |
| 30-09-2019 | micro format | 27-03-2020 | 2020-07900587 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-12000144 | |
| 30-09-2017 | micro format | 10-04-2018 | 2018-09700188 | |
| 30-09-2016 | abbreviated format | 02-05-2017 | 2017-11000109 |
Board & ownership
Directors
Directors
1 director
LIETEN Lode
Current
Owners and capital
Owners
Network & group
LODE shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of LODE. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
06-10
Gazette deed
Registered office moved from Hasselt to Heusden-Zolder4 points ▸
Gazette deed
Registered office moved from Hasselt to Heusden-Zolder
4 points ▸
- Other provision, “Niet-statutaire wijzigingen, aard wijzigingen” (deed in Dutch)
- Other provision, “publicatienummer”, 26369977 (deed in Dutch)
- General meeting, 01-10-2026
- Registered-office move, Hofeinde 8 bus 0012,3550 Heusden-Zolder
29-06
micro format · 32 days before the deadline
2025
30-06
micro format · 31 days before the deadline
2024
31-12
Financial
Weakest financial yearnet -€38,045
The net result drops to -€38,045, the lowest from 2019 to 2025. It recovers the following year.
27-06
micro format · 34 days before the deadline
2023
27-06
micro format · 34 days before the deadline
2022
30-04
micro format · on the deadline day
2021
28-04
micro format · 2 days before the deadline
2020
30-09
Financial
Back to profitnet €3,823
The net result is €3,823, after one loss-making year.
27-03
micro format · 34 days before the deadline
2019
30-04
micro format · on the deadline day
2018
10-04
micro format · 20 days before the deadline
2017
02-05
abbreviated format · 2 days late
1991
26-10
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
LODE in Dutch
Enterprise number
0445.360.058
Legal form
Private limited company
Status
Active, normale toestand
Founded
08-10-1991
Entity type
Legal entity
Registered office and establishments
Registered office
Hofeinde 8, 3550 Heusden-Zolder, Belgium
Former registered office
3500 Hasselt until 01-10-2026 · act of 06-10-2026
Establishment unit
Hassaluthdreef 10A, 3500 Hasselt since 23-10-1991 · unit number 2.054.709.82446240 Wholesale trade
Activities
NACEBEL 202564210
Activities of holding companies main activity
Codes under NACEBEL 2008
64200
Holdings main activity
Invoicing and payment
VAT number
BE 0445.360.058
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
5,688 m²
Building footprint
1,737 m²
Building volume
23,133 m³
Tallest building: 20.8 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71324E0570/00C002 | Flanders | 4,627 m² | 1 · 1,514 m² | 20.8 m · 5 |
| 71065F0222/00W003 | Flanders | 1,061 m² | 1 · 223 m² | 10.2 m · 3 |