LOSANE
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 15-10-2026 at the NBB all 8 filings
Turnover
≈ €240,000
Estimated: probably between €190,000 and €310,000
EBIT margin
Not included in this filing
Net result
€99,513
2025 · -€6,621
Working capital
€46,395▼ 54.5%
2025 · €101,980
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€98,919
2026
20192026
Net result
€99,513
2026
20192026
Equity
€386,312
▲ 20.0%
2026
20192026
Total assets
€1.0m
▲ 47.4%
2026
20192026
Debt
€649,361
▲ 70.5%
2026
20192026
Working capital
€46,395
▼ 54.5%
2026
20192026
Solvency
37.3%
▼ 8.5pp
2026
20192026
Current ratio
1.13
▼ 0.79
2026
20192026
Return on assets (ROA)
9.6%
▲ 10.6pp
2026
20192026
Staff (FTE)
0.4
▼ 33.3%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€0.03m--€0.03m▲ 5.7%-€0.02m▲ 13.4%€0.03m€0.06m▲ 107%€0.09m▲ 55.9%-€0.001m€0.1m
Net result€0.2m--€0.03m€0.02mwithin the sector's middle half€0.05mwithin the sector's middle half▲ 130%€0.05mwithin the sector's middle half▼ 1.4%€0.09mwithin the sector's middle half▲ 89.3%-€0.007mbelow the sector's middle half€0.1m
Equity€0.2m-€0.2m▼ 13.2%€0.2mwithin the sector's middle half▲ 11.6%€0.3mwithin the sector's middle half▲ 24.0%€0.2mwithin the sector's middle half▼ 10.2%€0.3mwithin the sector's middle half▲ 39.6%€0.3mwithin the sector's middle half▼ 2.0%€0.4m▲ 20.0%
Total assets€0.4m-€0.4m▲ 10.1%€1.6mwithin the sector's middle half▲ 306%€1.7mwithin the sector's middle half▲ 3.9%€0.6mwithin the sector's middle half▼ 63.5%€0.8mwithin the sector's middle half▲ 23.9%€0.7mwithin the sector's middle half▼ 8.6%€1.0m▲ 47.4%
Debt€0.1m-€0.2m▲ 44.4%€1.4m▲ 567%€1.4m▲ 0.9%€0.4m▼ 73.2%€0.4m▲ 14.2%€0.4m▼ 13.6%€0.6m▲ 70.5%
Working capital€0.2m-€0.2m▼ 2.9%€0.1mwithin the sector's middle half▼ 22.0%€0.2mwithin the sector's middle half▲ 51.7%-€0.02mwithin the sector's middle half€0.1mwithin the sector's middle half€0.1mwithin the sector's middle half▼ 14.3%€0.05m▼ 54.5%
Solvency59.5%-46.9%▼ 12.6pp12.9%below the sector's middle half▼ 34.0pp15.4%below the sector's middle half▲ 2.5pp37.9%within the sector's middle half▲ 22.5pp42.7%within the sector's middle half▲ 4.8pp45.8%within the sector's middle half▲ 3.1pp37.3%▼ 8.5pp
Current ratio8.55-7.10▼ 1.444.12above the sector's middle half▼ 2.994.69above the sector's middle half▲ 0.570.85within the sector's middle half▼ 3.841.87within the sector's middle half▲ 1.021.92within the sector's middle half▲ 0.051.13▼ 0.79
Return on assets (ROA)56.1%--7.1%▼ 63.3pp1.3%within the sector's middle half▲ 8.5pp3.0%within the sector's middle half▲ 1.6pp8.0%within the sector's middle half▲ 5.1pp12.3%within the sector's middle half▲ 4.2pp-0.9%below the sector's middle half▼ 13.2pp9.6%▲ 10.6pp
Staff (FTE)0below the sector's middle half0.3below the sector's middle half0.4below the sector's middle half▲ 33.3%0.6below the sector's middle half▲ 50.0%0.4▼ 33.3%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 2026 is a profit of €98,919, after a loss of €706 in 2025. It is the highest result since 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.0m
Fixed assets
€620,441 ▲ 26.7%
Current assets
€415,232 ▲ 95.0%
Equity and liabilities €1.0m
Equity
€386,312 ▲ 20.0%
Debt
€649,361 ▲ 70.5%
Debt's share of the balance-sheet total rises from 54.2% to 62.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€129,178▲
2025 · €37,681
Cash flow
€129,772▲
2025 · €31,766
Debt to equity
1.68▲
2025 · 1.18
ROE
25.8%▲
2025 · -2.1%
Interest coverage
17.49▲
2025 · 4.39
Debt ≤ 1 year
€368,838▲
2025 · €110,911
Debt > 1 year
€106,685▼
2025 · €135,454
Income taxes
€109▼
2025 · €3,400
Staff costs
€11,218▲
2025 · €10,401
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 2 | 1 |
| full-time | 0 | 0 | 0 | 0 |
| part-time | 1 | 2 | 2 | 1 |
| in full-time equivalents | 0.4 | 0.6 | 0.7 | 0.4 |
| Average over the year, in full-time equivalents | 0.3 | 0.4 | 0.6 | 0.4 |
| Joined | 3 | 4 | 2 | 3 |
| Left | 2 | 3 | 2 | 4 |
Source: social balance sheet in the 2023 to 2026 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €164,715 | €193,768 | €197,532 | €170,719 | €152,167 |
| Mortgages, amount registered | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 |
| Mortgage mandates | €160,000 | €160,000 | €160,000 | €160,000 | €160,000 |
| Carrying value of the mortgaged assets | €136,736 | €127,895 | €116,747 | €105,598 | €94,449 |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €21,100 | €4,512 | €55,393 | - | - |
| Financial fixed assets | €5,000 | €308,432 | €1,635 | €15,424 | €178,823 |
| Depreciation and write-downs of the year | €39,572 | €41,685 | €40,702 | €38,387 | €30,259 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | - | €12,923 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €2,612 | - | €10,246 | €6,608 | €8,137 | €10,401 | €11,218 | ▲ 7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,205 | €7,551 | €30,818 | €39,572 | €41,685 | €40,702 | €38,387 | €30,259 | ▼ 21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €4,440 | - |
| Other operating charges640/8 | - | €1,016 | - | €3,314 | €2,407 | €2,944 | €4,482 | €2,686 | ▼ 40.1% |
| Gross operating margin9900 | €4,220 | -€16,552 | €17,347 | €82,350 | €111,207 | €146,095 | €52,564 | €147,522 | ▲ 181% |
| Operating profit (loss)9901 | -€29,394 | -€27,731 | -€24,004 | €29,219 | €60,507 | €94,312 | -€706 | €98,919 | - |
| Financial income75/76B | - | €191 | - | €24,717 | €2,011 | €24,563 | €6,076 | €8,088 | ▲ 33.1% |
| Recurring financial income75 | €39 | €191 | €405 | €24,717 | €2,011 | €3,763 | €6,076 | €8,088 | ▲ 33.1% |
| Non-recurring financial income76B | - | €0 | - | €0 | - | €20,800 | €0 | - | - |
| Financial charges65/66B | - | €1,163 | - | €2,951 | €8,465 | €6,932 | €8,591 | €7,385 | ▼ 14.0% |
| Recurring financial charges65 | €311 | €1,163 | €2,905 | €2,951 | €8,465 | €6,932 | €8,591 | €7,385 | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | €212,881 | -€28,703 | €22,051 | €50,984 | €54,053 | €111,944 | -€3,221 | €99,622 | - |
| Income taxes67/77 | €7,309 | €0 | €49 | €327 | €4,107 | €17,399 | €3,400 | €109 | ▼ 96.8% |
| Profit (loss) for the period9904 | €205,572 | -€28,703 | €22,002 | €50,657 | €49,946 | €94,545 | -€6,621 | €99,513 | - |
| Profit (loss) for the period to be appropriated9905 | €205,572 | - | €22,002 | €50,657 | €49,946 | €94,545 | -€6,621 | €99,513 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.4m | €1.6m | €1.7m | €0.6m | €0.8m | €0.7m | €1.0m | ▲ 47.4% |
| Fixed assets21/28 | €0.2m | €0.2m | €1.5m | €1.4m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 26.7% |
| Tangible fixed assets22/27 | €0.1m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 19.0% |
| Land and buildings22 | - | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 10.6% |
| Furniture and vehicles24 | - | €0.03m | - | €0.09m | €0.06m | €0.07m | €0.05m | €0.03m | ▼ 36.4% |
| Other tangible fixed assets26 | - | €0.01m | - | €0.01m | €0.009m | €0.006m | €0.005m | €0.003m | ▼ 27.5% |
| Assets under construction and advance payments27 | - | - | - | - | €0.001m | €0 | - | - | - |
| Financial fixed assets28 | €0.01m | €0.02m | €1.2m | €1.2m | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 48.7% |
| Current assets29/58 | €0.2m | €0.2m | €0.2m | €0.3m | €0.1m | €0.3m | €0.2m | €0.4m | ▲ 95.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.02m | €0.01m | €0.01m | €0.001m | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | €0.02m | €0.01m | €0.01m | €0.001m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.02m | €0.05m | €0.1m | €0.1m | €0.05m | €0.2m | €0.2m | €0.3m | ▲ 65.5% |
| Trade receivables40 | - | €0.02m | - | €0.03m | €0.008m | €0.04m | €0.02m | €0.07m | ▲ 201% |
| Other amounts receivable41 | - | €0.03m | - | €0.1m | €0.05m | €0.1m | €0.2m | €0.3m | ▲ 47.0% |
| Cash at bank and in hand54/58 | €0.2m | €0.1m | €0.06m | €0.1m | €0.03m | €0.05m | €0 | €0.07m | - |
| Deferred charges and accrued income490/1 | - | €0.01m | - | €0.008m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 10.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.4m | €1.6m | €1.7m | €0.6m | €0.8m | €0.7m | €1.0m | ▲ 47.4% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 20.0% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.009m | €0.04m | €0.04m | €0.04m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Distributable reserves133 | - | €0.006m | - | €0.006m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 23.4% |
| Amounts payable17/49 | €0.1m | €0.2m | €1.4m | €1.4m | €0.4m | €0.4m | €0.4m | €0.6m | ▲ 70.5% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €1.3m | €1.3m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 21.2% |
| Financial debts170/4 | - | €0.1m | - | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 21.2% |
| Other amounts payable178/9 | - | - | - | €1.2m | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €0.02m | €0.03m | €0.04m | €0.06m | €0.1m | €0.1m | €0.1m | €0.4m | ▲ 233% |
| Current portion of amounts payable after more than one year42 | - | €0.008m | - | €0.02m | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 18.4% |
| Financial debts43 | - | - | - | - | - | - | €0.006m | €0.02m | ▲ 176% |
| Credit institutions430/8 | - | - | - | - | - | - | €0.006m | €0.02m | ▲ 176% |
| Trade debts44 | €0.003m | €0.007m | €0.02m | €0.02m | €0.03m | €0.02m | €0.01m | €0.01m | ▲ 32.6% |
| Suppliers440/4 | - | €0.007m | - | €0.02m | €0.03m | €0.02m | €0.01m | €0.01m | ▲ 32.6% |
| Taxes, remuneration and social security45 | - | €0.01m | - | €0.01m | €0.03m | €0.02m | €0.02m | €0.04m | ▲ 77.4% |
| Taxes450/3 | - | €0.01m | - | €0.01m | €0.03m | €0.02m | €0.02m | €0.04m | ▲ 77.4% |
| Remuneration and social security454/9 | - | - | - | - | €0.001m | €0 | - | - | - |
| Other amounts payable47/48 | - | €0.001m | - | €0.001m | €0.03m | €0.06m | €0.04m | €0.3m | ▲ 615% |
| Accrued charges and deferred income492/3 | - | €0.05m | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 29.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | -€0.03m | €0.02m | €0.05m | €0.05m | €0.09m | -€0.007m | €0.1m | - |
| + Depreciation and write-downs630 | €0.03m | €0.008m | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 21.2% |
| Operating cash flow (approximation) | €0.2m | -€0.02m | €0.05m | €0.09m | €0.09m | €0.1m | €0.03m | €0.1m | ▲ 309% |
| Investment in fixed assets (approximation) | - | -€0.05m | -€1.3m | -€0.02m | €0.9m | -€0.04m | -€0.02m | -€0.2m | ▼ 944% |
| Change in cash | - | -€0.04m | -€0.08m | €0.05m | -€0.08m | €0.02m | -€0.05m | €0.07m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as LOSANE has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LOSANE itself is lower: 0.1% within 12 months. It rests on far more data about LOSANE than the profile alone.
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.
| 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 26,972 companies, not a prediction for LOSANE. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 15-10-2026 | 2026-00567266 | |
| 31-03-2025 | full format | 08-09-2025 | 2025-00490453 | |
| 31-03-2024 | full format | 31-10-2024 | 2024-00531769 | |
| 31-03-2023 | full format | 30-10-2023 | 2023-00507647 | |
| 31-03-2022 | full format | 30-09-2022 | 2022-20454750 | |
| 31-03-2021 | full format | 06-09-2021 | 2021-66600170 | |
| 31-03-2020 | full format | 12-10-2020 | 2020-61000436 | |
| 30-09-2019 | full format | 30-03-2020 | 2020-08100532 |