Summary
LOGEL 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 €68,238 and a net result of €16,334. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 78% of 6,676 sector peers (NACE 64, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€68,238▲ 31.5%
2024 · €51,904
Net result
€16,334▲ 99.9%
2024 · €8,170
Total assets
€83,265▼ 6.4%
2024 · €88,987
Solvency
82.0%▲ 23.6pp
2024 · 58.3%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 73% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€23,745
2025
Net result€16,334
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€83,265
2025
Equity€68,238
2025
Debt€15,026
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€66,043
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)19.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency82.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio5.40
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€5,696-€1,679▼ 70.5%€18,233▲ 986%€15,142▼ 17.0%€16,751▲ 10.6%€13,747▼ 17.9%€23,745▲ 72.7%
Net result€2,779-€524below the sector's middle half▼ 81.1%€12,276within the sector's middle half▲ 23×€9,134within the sector's middle half▼ 25.6%€10,581within the sector's middle half▲ 15.8%€8,170within the sector's middle half▼ 22.8%€16,334within the sector's middle half▲ 99.9%
Equity€38,948-€18,772below the sector's middle half▼ 51.8%€31,048below the sector's middle half▲ 65.4%€40,182below the sector's middle half▲ 29.4%€43,734below the sector's middle half▲ 8.8%€51,904below the sector's middle half▲ 18.7%€68,238below the sector's middle half▲ 31.5%
Total assets€66,300-€65,500below the sector's middle half▼ 1.2%€112,905below the sector's middle half▲ 72.4%€108,720below the sector's middle half▼ 3.7%€103,671below the sector's middle half▼ 4.6%€88,987below the sector's middle half▼ 14.2%€83,265below the sector's middle half▼ 6.4%
Debt€27,352-€46,728▲ 70.8%€81,857▲ 75.2%€68,537▼ 16.3%€59,937▼ 12.5%€37,083▼ 38.1%€15,026▼ 59.5%
Working capital€38,604-€16,622within the sector's middle half▼ 56.9%€19,258within the sector's middle half▲ 15.9%€27,911within the sector's middle half▲ 44.9%€30,613within the sector's middle half▲ 9.7%€36,314within the sector's middle half▲ 18.6%€66,043within the sector's middle half▲ 81.9%
Solvency58.7%-28.7%within the sector's middle half▼ 30.1pp27.5%within the sector's middle half▼ 1.2pp37.0%within the sector's middle half▲ 9.5pp42.2%within the sector's middle half▲ 5.2pp58.3%within the sector's middle half▲ 16.1pp82.0%above the sector's middle half▲ 23.6pp
Current ratio2.56-1.37within the sector's middle half▼ 1.191.33within the sector's middle half▼ 0.041.52within the sector's middle half▲ 0.191.58within the sector's middle half▲ 0.051.98within the sector's middle half▲ 0.405.40above the sector's middle half▲ 3.42
Return on assets (ROA)4.2%-0.8%within the sector's middle half▼ 3.4pp10.9%within the sector's middle half▲ 10.1pp8.4%within the sector's middle half▼ 2.5pp10.2%within the sector's middle half▲ 1.8pp9.2%within the sector's middle half▼ 1.0pp19.6%above the sector's middle half▲ 10.4pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated 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 €83,265
Fixed assets
€2,195 ▼ 85.9%
Current assets
€81,069 ▲ 10.5%
Equity and liabilities €83,265
Equity
€68,238 ▲ 31.5%
Debt
€15,026 ▼ 59.5%
Debt's share of the balance-sheet total falls from 41.7% to 18.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
23.9%▲
2024 · 15.7%
Debt ≤ 1 year
€15,026▼
2024 · €37,083
Income taxes
€7,188▲
2024 · €5,399
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €637 | €1,401 | €2,814 | €8,235 | €7,471 | €7,892 | €1,399 | ▼ 82.3% |
| Other operating charges640/8 | - | - | - | €2,725 | €1,899 | €1,968 | €1,789 | ▼ 9.1% |
| Gross operating margin9900 | €7,015 | €3,605 | €22,117 | €26,101 | €26,122 | €23,607 | €26,933 | ▲ 14.1% |
| Operating profit (loss)9901 | €5,696 | €1,679 | €18,233 | €15,142 | €16,751 | €13,747 | €23,745 | ▲ 72.7% |
| Financial income75/76B | - | - | - | €0 | €0 | €0 | - | - |
| Recurring financial income75 | €0 | €0 | - | €0 | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €317 | €256 | €178 | €222 | ▲ 24.6% |
| Recurring financial charges65 | €984 | €36 | €220 | €317 | €256 | €178 | €222 | ▲ 24.6% |
| Profit (loss) for the period before taxes9903 | €4,711 | €1,643 | €18,013 | €14,825 | €16,495 | €13,569 | €23,523 | ▲ 73.4% |
| Income taxes67/77 | €1,932 | €1,119 | €5,737 | €5,691 | €5,914 | €5,399 | €7,188 | ▲ 33.1% |
| Profit (loss) for the period9904 | €2,779 | €524 | €12,276 | €9,134 | €10,581 | €8,170 | €16,334 | ▲ 99.9% |
| Profit (loss) for the period to be appropriated9905 | €2,779 | €524 | €12,276 | €9,134 | €10,581 | €8,170 | €16,334 | ▲ 99.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €66,300 | €65,500 | €112,905 | €108,720 | €103,671 | €88,987 | €83,265 | ▼ 6.4% |
| Fixed assets21/28 | €2,957 | €3,847 | €35,796 | €27,561 | €20,090 | €15,589 | €2,195 | ▼ 85.9% |
| Tangible fixed assets22/27 | €2,957 | €3,847 | €35,796 | €27,561 | €20,090 | €15,589 | €2,195 | ▼ 85.9% |
| Plant, machinery and equipment23 | - | - | - | €1,038 | €738 | €438 | €138 | ▼ 68.5% |
| Furniture and vehicles24 | - | - | - | €254 | €9 | €2,735 | €2,057 | ▼ 24.8% |
| Leasing and similar rights25 | - | - | - | €25,007 | €18,501 | €11,995 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €1,262 | €841 | €421 | €0 | ▼ 100% |
| Current assets29/58 | €63,343 | €61,653 | €77,109 | €81,159 | €83,581 | €73,397 | €81,069 | ▲ 10.5% |
| Amounts receivable within one year40/41 | €10,624 | €10,624 | €10,890 | €12,199 | €11,976 | €12,491 | €22,890 | ▲ 83.3% |
| Trade receivables40 | - | - | - | €10,890 | €10,890 | €10,890 | €22,890 | ▲ 110% |
| Other amounts receivable41 | - | - | - | €1,309 | €1,086 | €1,601 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €48,252 | €46,470 | €61,319 | €63,743 | €66,340 | €55,485 | €54,123 | ▼ 2.5% |
| Deferred charges and accrued income490/1 | - | - | - | €5,217 | €5,265 | €5,421 | €4,056 | ▼ 25.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €66,300 | €65,500 | €112,905 | €108,720 | €103,671 | €88,987 | €83,265 | ▼ 6.4% |
| Equity10/15 | €38,948 | €18,772 | €31,048 | €40,182 | €43,734 | €51,904 | €68,238 | ▲ 31.5% |
| Contributions10/11 | €26,900 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €12,048 | €12,572 | €24,848 | €33,982 | €37,534 | €45,704 | €62,038 | ▲ 35.7% |
| Distributable reserves133 | - | - | - | €33,982 | €37,534 | €45,704 | €62,038 | ▲ 35.7% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €27,352 | €46,728 | €81,857 | €68,537 | €59,937 | €37,083 | €15,026 | ▼ 59.5% |
| Amounts payable after more than one year17 | - | - | €23,149 | €15,039 | €6,863 | €0 | - | - |
| Financial debts170/4 | - | - | - | €15,039 | €6,863 | €0 | - | - |
| Amounts payable within one year42/48 | €24,739 | €45,031 | €57,851 | €53,248 | €52,969 | €37,083 | €15,026 | ▼ 59.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,110 | €7,497 | €6,863 | €0 | ▼ 100% |
| Trade debts44 | €228 | €175 | €168 | €870 | €1,035 | €579 | €349 | ▼ 39.7% |
| Suppliers440/4 | - | - | - | €870 | €1,035 | €579 | €349 | ▼ 39.7% |
| Taxes, remuneration and social security45 | - | - | - | €8,320 | €8,634 | €6,077 | €6,264 | ▲ 3.1% |
| Taxes450/3 | - | - | - | €5,720 | €6,134 | €6,077 | €6,264 | ▲ 3.1% |
| Remuneration and social security454/9 | - | - | - | €2,600 | €2,500 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €35,948 | €35,803 | €23,563 | €8,413 | ▼ 64.3% |
| Accrued charges and deferred income492/3 | - | - | - | €251 | €105 | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,779 | €524 | €12,276 | €9,134 | €10,581 | €8,170 | €16,334 | ▲ 99.9% |
| + Depreciation and write-downs630 | €637 | €1,401 | €2,814 | €8,235 | €7,471 | €7,892 | €1,399 | ▼ 82.3% |
| Operating cash flow (approximation) | €3,416 | €1,925 | €15,091 | €17,369 | €18,053 | €16,062 | €17,733 | ▲ 10.4% |
| Investment in fixed assets (approximation) | - | -€2,291 | -€34,764 | €0 | €0 | -€3,391 | €11,995 | - |
| Change in cash | - | -€1,782 | €14,849 | €2,424 | €2,598 | -€10,856 | -€1,362 | ▲ 87.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00026007 |
| 30-06-2024 | abbreviated format | 30-01-2025 | 2025-00025542 |
| 30-06-2023 | abbreviated format | 31-01-2024 | 2024-00015637 |
| 30-06-2022 | abbreviated format | 27-01-2023 | 2023-00007372 |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-03100408 |
| 30-06-2020 | abbreviated format | 26-01-2021 | 2021-01900471 |
| 30-06-2019 | abbreviated format | 30-01-2020 | 2020-03800072 |
| 30-06-2018 | micro format | 31-01-2019 | 2019-04300574 |
| 30-06-2017 | micro format | 30-01-2018 | 2018-03600024 |
| 30-06-2016 | abbreviated format | 03-02-2017 | 2017-04000031 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. 11,557 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.