LOW-E
Annual accounts 2025
micro format, filed on 07-04-2026, 115 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €200,000. Estimated: probably between €150,000 and €260,000.
Balance sheet
balance sheet total €676,871 on 31-12-2025in euro
in euro
Position in the sector
80.0%
Higher than 79% of 11,794 companies in 2025.
6.41
Higher than 85% of 11,521 companies in 2025.
5.0%
Higher than 34% of 11,605 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
676,871 | 639,148 | 919,621 | 1.0m | 579,170 | 746,667 | 718,106 | 680,874 | 415,136 | 395,747 | 616,407 | 645,448 | 435,571 | 352,252 | 375,128 | 294,292 | 181,334 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 750 | |
21/28 |
372,083 | 405,818 | 423,389 | 402,020 | 46,960 | 43,296 | 45,767 | 44,940 | 42,041 | 40,672 | 34,915 | 16,889 | 27,973 | 39,966 | 44,567 | 26,811 | 33,342 | |
22/27 |
372,083 | 405,818 | 423,389 | 402,020 | 46,960 | 43,296 | 45,767 | 44,940 | 42,041 | 40,672 | 34,915 | 16,889 | 27,973 | 39,966 | 44,567 | 26,811 | 32,592 | |
22 |
348,832 | 374,276 | 399,710 | 387,809 | 26,338 | 28,833 | 31,328 | 33,823 | 31,435 | 33,489 | - | - | - | - | - | - | - | |
23 |
8,353 | 7,662 | 6,870 | 293 | 585 | 1,421 | 2,257 | 1,631 | 2,725 | 1,101 | - | 2,511 | 5,025 | 8,326 | 11,226 | 262 | - | |
24 |
14,817 | 23,512 | 16,155 | 12,978 | 18,810 | 11,529 | 10,382 | 7,401 | 5,509 | 3,423 | 31,970 | 11,147 | 19,430 | 27,836 | 33,341 | 26,549 | 32,592 | |
26 |
81 | 368 | 654 | 941 | 1,227 | 1,513 | 1,800 | 2,086 | 2,372 | 2,659 | 2,945 | 3,231 | 3,518 | 3,804 | - | - | - | |
29/58 |
304,788 | 233,330 | 496,232 | 637,308 | 532,210 | 703,370 | 672,339 | 635,933 | 373,095 | 355,075 | 581,492 | 628,560 | 407,598 | 312,286 | 330,561 | 267,481 | 147,992 | |
29 |
- | - | - | - | - | - | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | 0 | 10,000 | 10,000 | 10,000 | 10,000 | - | - | - | - | - | - | - | |
3 |
- | - | 280,277 | 387,543 | 101,566 | 529,740 | 332,844 | 272,851 | 218,189 | 130,568 | 409,663 | 377,498 | 86,444 | 20,000 | 60,000 | 61,996 | - | |
30/36 |
- | - | 280,277 | 387,543 | 101,566 | 529,740 | 332,844 | 272,851 | 218,189 | 130,568 | 409,663 | 377,498 | 86,444 | 20,000 | 60,000 | 61,996 | - | |
40/41 |
141,454 | 165,868 | 166,469 | 183,199 | 46,191 | 120,007 | 164,038 | 91,752 | 39,426 | 43,156 | 80,936 | 49,789 | 51,521 | 34,689 | 38,030 | 156,469 | 4,477 | |
40 |
33,779 | 53,787 | 47,395 | 46,009 | 26,921 | 86,645 | 113,962 | 73,039 | 35,176 | 39,524 | 58,980 | 15,118 | 47,702 | 29,394 | 23,463 | 136,139 | 4,477 | |
41 |
107,675 | 112,081 | 119,074 | 137,190 | 19,270 | 33,361 | 50,076 | 18,713 | 4,251 | 3,632 | 21,956 | 34,671 | 3,820 | 5,295 | 14,567 | 20,330 | - | |
54/58 |
161,125 | 62,495 | 47,237 | 64,457 | 384,353 | 53,429 | 164,091 | 261,223 | 105,371 | 170,746 | 88,930 | 200,370 | 268,198 | 255,316 | 229,652 | 48,148 | 143,475 | |
490/1 |
2,209 | 4,967 | 2,250 | 2,110 | 100 | 195 | 1,366 | 108 | 108 | 606 | 1,964 | 903 | 1,434 | 2,280 | 2,879 | 869 | 40 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
676,871 | 639,148 | 919,621 | 1.0m | 579,170 | 746,667 | 718,106 | 680,874 | 415,136 | 395,747 | 616,407 | 645,448 | 435,571 | 352,252 | 375,128 | 294,292 | 181,334 | |
10/15 |
541,496 | 507,844 | 486,482 | 494,540 | 495,773 | 388,185 | 337,793 | 315,229 | 317,235 | 274,410 | 289,281 | 206,687 | 291,007 | 252,159 | 219,907 | 154,854 | 121,654 | |
10/11 |
120,000 | 120,000 | 120,000 | 120,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
100 |
- | - | - | - | - | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
101 |
- | - | - | - | - | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
13 |
160,010 | 126,360 | 105,000 | 105,000 | 125,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
130/1 |
- | - | - | - | 20,000 | 20,000 | 20,000 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
1311 |
- | - | - | - | 20,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
160,010 | 126,360 | 105,000 | 105,000 | 105,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
261,486 | 261,484 | 261,482 | 269,540 | 270,773 | 268,185 | 217,793 | 195,229 | 197,235 | 154,410 | 169,281 | 86,687 | 171,007 | 132,159 | 99,907 | 34,854 | 1,654 | |
16 |
- | - | - | - | 5,096 | 5,096 | 8,310 | 8,310 | 9,694 | 10,000 | 17,684 | 116,684 | - | - | - | - | - | |
160/5 |
- | - | - | - | 5,096 | 5,096 | 8,310 | 8,310 | 9,694 | 10,000 | 17,684 | 116,684 | - | - | - | - | - | |
164/5 |
- | - | - | - | 5,096 | 5,096 | 8,310 | 8,310 | 9,694 | 10,000 | - | - | - | - | - | - | - | |
17/49 |
135,375 | 131,304 | 433,139 | 544,788 | 78,300 | 353,385 | 372,002 | 357,334 | 88,207 | 111,337 | 309,442 | 322,077 | 144,564 | 100,093 | 155,221 | 139,438 | 59,680 | |
17 |
87,802 | 98,865 | 107,957 | 103,558 | 6,086 | - | 5,076 | 11,270 | 17,465 | 23,320 | 25,041 | 3,255 | 11,067 | 18,879 | 25,743 | 28,000 | 30,000 | |
170/4 |
68,052 | 79,115 | 89,807 | 103,558 | 6,086 | - | 5,076 | 11,270 | 17,465 | 23,320 | 25,041 | 3,255 | 11,067 | 18,879 | 25,743 | - | - | |
178/9 |
19,750 | 19,750 | 18,150 | - | - | - | - | - | - | - | - | - | - | - | - | 28,000 | 30,000 | |
42/48 |
47,573 | 31,599 | 325,182 | 441,231 | 72,214 | 353,385 | 366,927 | 346,064 | 70,242 | 88,017 | 282,653 | 316,878 | 131,750 | 80,586 | 126,390 | 109,470 | 29,080 | |
42 |
11,063 | 10,693 | 10,335 | 12,660 | 7,644 | 5,163 | 6,194 | 6,195 | 6,195 | 6,195 | 10,243 | 12,877 | 7,812 | 12,865 | 12,467 | 5,202 | - | |
43 |
- | - | 273,974 | 366,693 | - | 283,920 | 244,759 | 290,486 | 44,625 | - | 266,990 | 222,340 | 103,987 | 5,500 | 71,232 | 83,999 | - | |
430/8 |
- | - | 273,974 | 366,693 | - | 283,920 | 244,759 | 290,486 | 44,625 | - | - | - | - | - | 71,232 | 83,999 | - | |
439 |
- | - | - | - | - | - | - | - | - | - | 266,990 | 222,340 | 103,987 | 5,500 | - | - | - | |
44 |
4,848 | 6,942 | 34,262 | 40,225 | 47,320 | 62,264 | 74,361 | 43,013 | 13,851 | 76,813 | 3,962 | 66,280 | 15,332 | 27,159 | 3,621 | 5,608 | 2,809 | |
440/4 |
4,848 | 6,942 | 34,262 | 40,225 | 47,320 | 62,264 | 74,361 | 43,013 | 13,851 | 76,813 | 3,962 | 66,280 | 15,332 | 27,159 | 3,621 | 5,608 | 2,809 | |
45 |
14,052 | 6,901 | 6,611 | 21,653 | 17,250 | 2,039 | 41,610 | 5,741 | 4,808 | 3,734 | 1,457 | 15,271 | 3,122 | 13,506 | 23,528 | 14,566 | 14,581 | |
450/3 |
11,022 | 3,871 | 3,024 | 21,653 | 17,250 | 1,209 | 30,506 | 5,741 | 4,808 | 1,071 | 1,457 | 9,354 | 3,122 | 13,506 | 17,896 | 14,566 | 14,581 | |
454/9 |
3,030 | 3,030 | 3,587 | - | - | 829 | 11,104 | - | - | 2,663 | - | 5,917 | - | - | 5,632 | - | - | |
47/48 |
17,610 | 7,063 | - | - | - | 0 | 3 | 630 | 762 | 1,276 | - | 110 | 1,497 | 21,556 | 15,541 | 97 | 11,690 | |
492/3 |
- | 840 | - | - | - | - | - | - | 500 | - | 1,748 | 1,944 | 1,747 | 628 | 3,088 | 1,968 | 600 | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | 750 | 0 | 3,114 | 342 | - | - | 2,301 | 774 | - | 168 | - | - | - | |
9900 |
91,917 | 91,562 | 50,069 | 21,691 | 179,744 | 62,798 | 52,042 | 37,043 | 73,088 | 469 | 101,612 | 48,597 | 73,784 | 63,803 | 127,603 | 72,206 | 50,093 | |
630 |
34,329 | 34,334 | 31,557 | 17,443 | 9,418 | 6,684 | 7,807 | 6,611 | 6,589 | 4,497 | 11,399 | 11,215 | 12,776 | 12,515 | 11,685 | 8,245 | 5,259 | |
635/8 |
- | - | - | -5,096 | - | - | 0 | -1,384 | -306 | -7,684 | -99,000 | 116,684 | - | - | - | - | - | |
640/8 |
4,057 | 4,878 | 6,937 | 2,926 | 6,804 | 1,477 | 1,121 | 2,084 | 1,655 | 10,198 | 100,927 | 800 | 966 | 542 | 9,558 | 10,663 | 9,156 | |
66A |
- | - | - | - | - | 449 | 1,414 | 22,033 | 471 | 2,690 | - | 516 | 3,630 | - | 2,896 | - | - | |
9901 |
53,531 | 52,350 | 11,575 | 6,419 | 163,521 | 54,188 | 41,701 | 7,700 | 64,678 | -9,231 | 88,286 | -80,102 | 60,042 | 50,746 | 106,360 | 53,299 | 35,678 | |
75/76B |
1,050 | 1,038 | 1,173 | 348 | 21 | 1,459 | 1 | 368 | 213 | 420 | 1,025 | 492 | 131 | 595 | 384 | 28 | 100 | |
75 |
1,050 | 1,038 | 1,173 | 348 | 21 | 1,459 | 1 | 368 | 213 | 420 | 1,025 | 492 | 131 | 595 | 384 | 28 | 100 | |
65/66B |
7,498 | 23,262 | 20,806 | 6,332 | 8,602 | 7,593 | 10,174 | 6,933 | 3,134 | 4,479 | 8,625 | 4,968 | 5,471 | 4,335 | 5,243 | 3,736 | 1,190 | |
65 |
7,498 | 23,262 | 20,806 | 6,332 | 8,602 | 7,593 | 10,174 | 6,933 | 3,134 | 4,479 | 8,625 | 4,968 | 5,471 | 4,335 | 5,243 | 3,736 | 1,190 | |
9903 |
47,083 | 30,126 | -8,058 | 435 | 154,940 | 48,054 | 31,528 | 1,135 | 61,757 | -13,290 | 82,987 | -84,320 | 51,072 | 47,174 | 98,605 | 49,591 | 34,588 | |
67/77 |
13,431 | 8,764 | - | 1,669 | 47,351 | 10,415 | 8,964 | 3,140 | 18,932 | 1,581 | 393 | - | 12,224 | 14,922 | 33,552 | 16,391 | 12,934 | |
9904 |
33,652 | 21,362 | -8,058 | -1,233 | 107,589 | 37,639 | 22,564 | -2,005 | 42,825 | -14,871 | 82,594 | -84,320 | 38,848 | 32,252 | 65,053 | 33,199 | 21,654 | |
9905 |
33,652 | 21,362 | -8,058 | -1,233 | 107,589 | 37,639 | 22,564 | -2,005 | 42,825 | -14,871 | 82,594 | -84,320 | 38,848 | 32,252 | 65,053 | 33,199 | 21,654 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
295,136 | 282,844 | 261,482 | 269,540 | 375,773 | 268,185 | 217,793 | 195,229 | 197,235 | 154,410 | 169,281 | 86,687 | 171,007 | 132,159 | 99,907 | 34,854 | 21,654 | |
14P |
261,484 | 261,482 | 269,540 | 270,773 | 268,185 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
33,650 | 21,360 | - | - | 105,000 | - | - | - | - | - | - | - | - | - | - | - | 20,000 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 20,000 | |
6921 |
33,650 | 21,360 | - | - | 105,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 07-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-04-2026 | 2026-00073045 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00198015 | |
| 31-12-2023 | micro format | 07-07-2024 | 2024-00232676 | |
| 31-12-2022 | micro format | 25-06-2023 | 2023-00154449 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20453078 | |
| 31-12-2020 | micro format | 14-12-2021 | 2021-80700017 | |
| 31-12-2019 | micro format | 08-03-2021 | 2021-07100527 | |
| 31-12-2018 | micro format | 19-02-2020 | 2020-05300285 | |
| 31-12-2017 | micro format | 30-09-2018 | 2018-68100080 | |
| 31-12-2016 | micro format | 02-11-2017 | 2017-69200169 | |
| 31-12-2015 | full format | 25-10-2016 | 2016-66300301 | |
| 31-12-2014 | full format | 30-09-2015 | 2015-63800015 | |
| 31-12-2013 | full format | 30-09-2014 | 2014-62700487 | |
| 31-12-2012 | full format | 25-07-2014 | 2014-35400418 | |
| 31-12-2011 | full format | 28-01-2013 | 2013-02100080 | |
| 31-12-2010 | full format | 28-01-2013 | 2013-02100037 | |
| 31-12-2009 | full format | 12-03-2011 | 2011-05900082 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 87,860 | 86,684 | 43,132 | 23,861 | 172,939 | 60,872 | 49,507 | 14,310 | 71,268 | -4,735 | 99,685 | -68,887 | 72,818 | 63,261 | 118,045 | 61,544 | 40,938 | ||
| 67,981 | 55,697 | 23,499 | 16,209 | 117,007 | 44,323 | 30,370 | 4,605 | 49,415 | -10,375 | 93,993 | -73,105 | 51,624 | 44,767 | 76,738 | 41,444 | 26,914 | ||
| 11,783 | 16,763 | 59,548 | 372,502 | 17,385 | 4,213 | 31,237 | 9,510 | 7,958 | 37,196 | 36,624 | 131 | 783 | 7,914 | 53,337 | 1,714 | 36,801 | ||
| 98,630 | 15,257 | -17,220 | -319,896 | 330,924 | -110,662 | -97,132 | 155,851 | -65,374 | 81,815 | -111,439 | -67,829 | 12,882 | 25,664 | 181,504 | -95,327 | - | ||
| 257,215 | 201,731 | 171,050 | 196,078 | 459,996 | 349,985 | 305,412 | 289,869 | 302,853 | 267,058 | 298,839 | 311,681 | 275,848 | 231,700 | 204,172 | 158,011 | 118,912 | ||
| 80.0% | 79.5% | 52.9% | 47.6% | 85.6% | 52.0% | 47.0% | 46.3% | 76.4% | 69.3% | 46.9% | 32.0% | 66.8% | 71.6% | 58.6% | 52.6% | 67.1% | ||
| 6.41 | 7.38 | 1.53 | 1.44 | 7.37 | 1.99 | 1.83 | 1.84 | 5.31 | 4.03 | 2.06 | 1.98 | 3.09 | 3.88 | 2.62 | 2.44 | 5.09 | ||
| 6.41 | 7.38 | 0.66 | 0.57 | 5.96 | 0.49 | 0.93 | 1.05 | 2.21 | 2.55 | 0.61 | 0.79 | 2.44 | 3.63 | 2.14 | 1.88 | 5.09 | ||
| 0.25 | 0.26 | 0.89 | 1.10 | 0.16 | 0.91 | 1.10 | 1.13 | 0.28 | 0.41 | 1.07 | 1.56 | 0.50 | 0.40 | 0.71 | 0.90 | 0.49 | ||
| 6.2% | 4.2% | -1.7% | -0.2% | 21.7% | 9.7% | 6.7% | -0.6% | 13.5% | -5.4% | 28.6% | -40.8% | 13.3% | 12.8% | 29.6% | 21.4% | 17.8% | ||
| 5.0% | 3.3% | -0.9% | -0.1% | 18.6% | 5.0% | 3.1% | -0.3% | 10.3% | -3.8% | 13.4% | -13.1% | 8.9% | 9.2% | 17.3% | 11.3% | 11.9% | ||
| 11.72 | 3.73 | 2.07 | 3.77 | 20.10 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,783 | €16,763 | €59,548 | €372,502 | €17,385 |
| €34,329 | €34,334 | €31,557 | €17,443 | €9,418 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on LOW-E
The operating result for 2025 is 2% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 20.5% to 20.0%. Equity and debt are higher.