Summary
LUCELE 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 €31,115 and a net result of €68,853. Equity remains stable across the filed financial years (±1.8% per year). Its solvency ranks better than 19% of 9,680 sector peers (NACE 64, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€31,115▼ 77.4%
2024 · €137,561
Net result
€68,853▲ 10.4%
2024 · €62,347
Total assets
€229,680▲ 49.6%
2024 · €153,482
Solvency
13.5%▼ 76.1pp
2024 · 89.6%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 8% 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€86,847
2025
Net result€68,853
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€229,680
2025
Equity€31,115
2025
Debt€198,565
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€306
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)30.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency13.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.00
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
Line20182019202020212022202320242025
Operating result€35,710-€37,233▲ 4.3%€50,204▲ 34.8%€46,561▼ 7.3%€49,722▲ 6.8%€85,042▲ 71.0%€80,435▼ 5.4%€86,847▲ 8.0%
Net result€25,572-€26,912▲ 5.2%€37,909within the sector's middle half▲ 40.9%€36,618within the sector's middle half▼ 3.4%€39,231within the sector's middle half▲ 7.1%€64,630within the sector's middle half▲ 64.7%€62,347within the sector's middle half▼ 3.5%€68,853within the sector's middle half▲ 10.4%
Equity€52,511-€79,424▲ 51.3%€117,333within the sector's middle half▲ 47.7%€166,352within the sector's middle half▲ 41.8%€110,583within the sector's middle half▼ 33.5%€75,213within the sector's middle half▼ 32.0%€137,561within the sector's middle half▲ 82.9%€31,115below the sector's middle half▼ 77.4%
Total assets€73,354-€92,291▲ 25.8%€136,746within the sector's middle half▲ 48.2%€179,821within the sector's middle half▲ 31.5%€215,847within the sector's middle half▲ 20.0%€105,425below the sector's middle half▼ 51.2%€153,482within the sector's middle half▲ 45.6%€229,680within the sector's middle half▲ 49.6%
Debt€20,843-€12,867▼ 38.3%€19,413▲ 50.9%€13,469▼ 30.6%€105,264▲ 682%€30,212▼ 71.3%€15,922▼ 47.3%€198,565▲ 1,147%
Working capital€31,688-€65,628▲ 107%€104,740within the sector's middle half▲ 59.6%€161,327above the sector's middle half▲ 54.0%€111,675within the sector's middle half▼ 30.8%€77,071within the sector's middle half▼ 31.0%€111,497within the sector's middle half▲ 44.7%€306within the sector's middle half▼ 99.7%
Solvency71.6%-86.1%▲ 14.5pp85.8%above the sector's middle half▼ 0.3pp92.5%above the sector's middle half▲ 6.7pp51.2%within the sector's middle half▼ 41.3pp71.3%within the sector's middle half▲ 20.1pp89.6%above the sector's middle half▲ 18.3pp13.5%below the sector's middle half▼ 76.1pp
Current ratio2.71-7.50▲ 4.797.42above the sector's middle half▼ 0.0816.56above the sector's middle half▲ 9.142.09within the sector's middle half▼ 14.473.84within the sector's middle half▲ 1.759.70above the sector's middle half▲ 5.851.00within the sector's middle half▼ 8.69
Return on assets (ROA)34.9%-29.2%▼ 5.7pp27.7%above the sector's middle half▼ 1.4pp20.4%within the sector's middle half▼ 7.4pp18.2%within the sector's middle half▼ 2.2pp61.3%above the sector's middle half▲ 43.1pp40.6%above the sector's middle half▼ 20.7pp30.0%above the sector's middle half▼ 10.6pp
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 micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €229,680
Fixed assets
€34,910 ▲ 19.7%
Current assets
€194,770 ▲ 56.7%
Equity and liabilities €229,680
Equity
€31,115 ▼ 77.4%
Debt
€198,565 ▲ 1,147%
Debt's share of the balance-sheet total rises from 10.4% to 86.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
221.3%▲
2024 · 45.3%
Debt ≤ 1 year
€194,464▲
2024 · €12,821
Income taxes
€19,578▲
2024 · €17,916
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,792 | €11,046 | €9,167 | €7,569 | €7,323 | €766 | €3,869 | €8,178 | ▲ 111% |
| Other operating charges640/8 | - | - | - | €1,127 | €1,136 | €1,850 | €1,754 | €1,331 | ▼ 24.1% |
| Gross operating margin9900 | €45,589 | €49,802 | €60,167 | €55,257 | €58,181 | €87,658 | €86,058 | €96,356 | ▲ 12.0% |
| Operating profit (loss)9901 | €35,710 | €37,233 | €50,204 | €46,561 | €49,722 | €85,042 | €80,435 | €86,847 | ▲ 8.0% |
| Financial income75/76B | - | - | - | €927 | €2,011 | €3 | €63 | €1,763 | ▲ 2,685% |
| Recurring financial income75 | €3 | €1 | €1 | €927 | €2,011 | €3 | €63 | €1,763 | ▲ 2,685% |
| Financial charges65/66B | - | - | - | €65 | €57 | €2,056 | €235 | €179 | ▼ 23.8% |
| Recurring financial charges65 | €1,641 | €1,294 | €784 | €65 | €57 | €2,056 | €235 | €179 | ▼ 23.8% |
| Profit (loss) for the period before taxes9903 | €34,072 | €35,941 | €49,421 | €47,422 | €51,676 | €82,989 | €80,264 | €88,431 | ▲ 10.2% |
| Income taxes67/77 | €8,500 | €9,028 | €11,511 | €10,804 | €12,444 | €18,359 | €17,916 | €19,578 | ▲ 9.3% |
| Profit (loss) for the period9904 | €25,572 | €26,912 | €37,909 | €36,618 | €39,231 | €64,630 | €62,347 | €68,853 | ▲ 10.4% |
| Profit (loss) for the period to be appropriated9905 | €25,572 | €26,912 | €37,909 | €36,618 | €39,231 | €64,630 | €62,347 | €68,853 | ▲ 10.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €73,354 | €92,291 | €136,746 | €179,821 | €215,847 | €105,425 | €153,482 | €229,680 | ▲ 49.6% |
| Fixed assets21/28 | €23,103 | €16,565 | €15,694 | €8,125 | €2,009 | €1,244 | €29,165 | €34,910 | ▲ 19.7% |
| Tangible fixed assets22/27 | €23,103 | €16,565 | €15,694 | €8,125 | €2,009 | €1,244 | €29,165 | €34,910 | ▲ 19.7% |
| Furniture and vehicles24 | - | - | - | €4,159 | €2,009 | €1,244 | €478 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €3,966 | - | - | €28,687 | €34,910 | ▲ 21.7% |
| Current assets29/58 | €50,251 | €75,726 | €121,052 | €171,696 | €213,838 | €104,181 | €124,318 | €194,770 | ▲ 56.7% |
| Amounts receivable after more than one year29 | - | - | - | €80,000 | €80,000 | - | €5,000 | €110,000 | ▲ 2,100% |
| Other amounts receivable291 | - | - | - | €80,000 | €80,000 | - | €5,000 | €110,000 | ▲ 2,100% |
| Amounts receivable within one year40/41 | - | €16,104 | €15,853 | €16,670 | €18,618 | €1,318 | €23,286 | €23,538 | ▲ 1.1% |
| Trade receivables40 | - | - | - | €15,049 | €16,940 | €1,263 | €23,286 | €23,538 | ▲ 1.1% |
| Other amounts receivable41 | - | - | - | €1,621 | €1,678 | €56 | €0 | - | - |
| Cash at bank and in hand54/58 | €50,251 | €59,621 | €103,482 | €73,024 | €113,375 | €101,601 | €95,448 | €60,444 | ▼ 36.7% |
| Deferred charges and accrued income490/1 | - | - | - | €2,001 | €1,845 | €1,263 | €584 | €788 | ▲ 35.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €73,354 | €92,291 | €136,746 | €179,821 | €215,847 | €105,425 | €153,482 | €229,680 | ▲ 49.6% |
| Equity10/15 | €52,511 | €79,424 | €117,333 | €166,352 | €110,583 | €75,213 | €137,561 | €31,115 | ▼ 77.4% |
| Contributions10/11 | €6,200 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €46,311 | €73,224 | €111,133 | €147,752 | €91,983 | €56,613 | €118,961 | €12,515 | ▼ 89.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €145,892 | €90,123 | €56,613 | €118,961 | €12,515 | ▼ 89.5% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €20,843 | €12,867 | €19,413 | €13,469 | €105,264 | €30,212 | €15,922 | €198,565 | ▲ 1,147% |
| Amounts payable within one year42/48 | €18,563 | €10,097 | €16,312 | €10,368 | €102,163 | €27,111 | €12,821 | €194,464 | ▲ 1,417% |
| Trade debts44 | €3,326 | €2,381 | €6,226 | €2,410 | €1,792 | €2,902 | €2,832 | €4,826 | ▲ 70.4% |
| Suppliers440/4 | - | - | - | €2,410 | €1,792 | €2,902 | €2,832 | €4,826 | ▲ 70.4% |
| Taxes, remuneration and social security45 | - | - | - | €4,607 | €18,005 | €22,682 | €8,226 | €11,737 | ▲ 42.7% |
| Taxes450/3 | - | - | - | €4,607 | €18,005 | €22,682 | €8,226 | €7,487 | ▼ 9.0% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €4,250 | - |
| Other amounts payable47/48 | - | - | - | €3,352 | €82,366 | €1,527 | €1,764 | €177,901 | ▲ 9,988% |
| Accrued charges and deferred income492/3 | - | - | - | €3,101 | €3,101 | €3,101 | €3,101 | €4,101 | ▲ 32.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,572 | €26,912 | €37,909 | €36,618 | €39,231 | €64,630 | €62,347 | €68,853 | ▲ 10.4% |
| + Depreciation and write-downs630 | €8,792 | €11,046 | €9,167 | €7,569 | €7,323 | €766 | €3,869 | €8,178 | ▲ 111% |
| Operating cash flow (approximation) | €34,364 | €37,958 | €47,076 | €44,187 | €46,554 | €65,396 | €66,216 | €77,031 | ▲ 16.3% |
| Investment in fixed assets (approximation) | - | -€4,508 | -€8,296 | €0 | -€1,207 | €0 | -€31,790 | -€13,923 | ▲ 56.2% |
| Change in cash | - | €9,370 | €43,861 | -€30,458 | €40,350 | -€11,774 | -€6,153 | -€35,004 | ▼ 469% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00367907 |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00464536 |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00487218 |
| 31-12-2022 | micro format | 30-07-2023 | 2023-00297968 |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20134454 |
| 31-12-2020 | micro format | 07-07-2021 | 2021-32600124 |
| 31-12-2019 | micro format | 22-07-2020 | 2020-32300268 |
| 31-12-2018 | micro format | 12-10-2019 | 2019-70700291 |
| 31-12-2017 | micro format | 28-10-2018 | 2018-70900122 |
| 31-12-2016 | abbreviated format | 26-09-2017 | 2017-65200430 |
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Of the 24,462 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,970. 9,045 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €1,591 awarded · €1,591 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €555 | €555 |
| 2024 | 1 | €93 | €93 |
| 2023 | 1 | €715 | €715 |
| 2022 | 1 | €228 | €228 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.