LUDO
ActiveSummary
LUDO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21,209 and a net result of -€1,764. Equity is shrinking by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 49% of 28281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+52
Solvency71▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.82 against 1.35 in 2024; short-term debt: 54% and cash: 12.3% of total assets), and 54% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
46%
Return on assets
-3.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€1,764
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 30-03-2026, 123 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
123 d early
2024
9 d early
2023
41 d early
2022
62 d early
2021
40 d early
2020
17 d early
2019
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 21 June (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 oldest company in Riemst, Construction sector
Equity
€21,209▼ 7.7%
2024 · €22,973
Total assets
€46,102▼ 35.2%
2024 · €71,197
Net result
-€1,764▲ 53.4%
2024 · -€3,786
Working capital
-€4,574
2024 · €17,030
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€5,147-€4,356▲ 15.4%€3,316-€2,100€57
Net result-€6,007below the sector's middle half-€5,224below the sector's middle half▲ 13.0%-€442below the sector's middle half▲ 91.5%-€3,786below the sector's middle half▼ 757%-€1,764below the sector's middle half▲ 53.4%
Equity€32,424within the sector's middle half▼ 15.6%€27,200within the sector's middle half▼ 16.1%€26,758within the sector's middle half▼ 1.6%€22,973within the sector's middle half▼ 14.1%€21,209within the sector's middle half▼ 7.7%
Total assets€82,732within the sector's middle half▲ 12.0%€53,060below the sector's middle half▼ 35.9%€60,378below the sector's middle half▲ 13.8%€71,197within the sector's middle half▲ 17.9%€46,102below the sector's middle half▼ 35.2%
Debt€50,307▲ 42.0%€25,860▼ 48.6%€33,619▲ 30.0%€48,224▲ 43.4%€24,893▼ 48.4%
Working capital€25,299within the sector's middle half▼ 14.4%€23,144within the sector's middle half▼ 8.5%€24,812within the sector's middle half▲ 7.2%€17,030within the sector's middle half▼ 31.4%-€4,574below the sector's middle half
Solvency39.2%within the sector's middle half▼ 12.8pp51.3%within the sector's middle half▲ 12.1pp44.3%within the sector's middle half▼ 6.9pp32.3%within the sector's middle half▼ 12.1pp46.0%within the sector's middle half▲ 13.7pp
Current ratio1.50within the sector's middle half▼ 0.331.89within the sector's middle half▲ 0.391.74within the sector's middle half▼ 0.151.35within the sector's middle half▼ 0.390.82below the sector's middle half▼ 0.54
Return on assets (ROA)-7.3%below the sector's middle half▼ 35.6pp-9.8%below the sector's middle half▼ 2.6pp-0.7%below the sector's middle half▲ 9.1pp-5.3%below the sector's middle half▼ 4.6pp-3.8%below the sector's middle half▲ 1.5pp
Staff (FTE)1▼ 33.3%1=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €57 after a loss of €2,100 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €46,102
Fixed assets
€25,782 ▲ 334%
Current assets
€20,320 ▼ 68.9%
Equity and liabilities €46,102
Equity
€21,209 ▼ 7.7%
Debt
€24,893 ▼ 48.4%
Debt's share of the balance-sheet total falls from 67.7% to 54.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€2,394▲
2024 · -€551
Cash flow
€573▲
2024 · -€2,237
Quick ratio
0.78▼
2024 · 1.13
Debt to equity
1.17▼
2024 · 2.10
ROE
-8.3%▲
2024 · -16.5%
Interest coverage
7.21▲
2024 · -1.67
Debt ≤ 1 year
€24,893▼
2024 · €48,224
Income taxes
€1,489▲
2024 · €1,354
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €62 | - |
| Remuneration, social security and pensions62 | €4,723 | €588 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,730 | €3,070 | €2,943 | €1,549 | €2,337 | ▲ 50.9% |
| Other operating charges640/8 | €897 | €771 | €9,234 | €842 | €1,061 | ▲ 26.0% |
| Gross operating margin9900 | €4,203 | €73 | €15,492 | €290 | €3,455 | ▲ 1,089% |
| Operating profit (loss)9901 | -€5,147 | -€4,356 | €3,316 | -€2,100 | €57 | ▲ 103% |
| Financial income75/76B | €2 | €0 | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €2 | €0 | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €183 | €461 | €841 | €331 | €332 | ▲ 0.3% |
| Recurring financial charges65 | €183 | €461 | €841 | €331 | €332 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | -€5,328 | -€4,817 | €2,474 | -€2,431 | -€275 | ▲ 88.7% |
| Income taxes67/77 | €679 | €407 | €2,916 | €1,354 | €1,489 | ▲ 10.0% |
| Profit (loss) for the period9904 | -€6,007 | -€5,224 | -€442 | -€3,786 | -€1,764 | ▲ 53.4% |
| Transfer from tax-exempt reserves789 | €5,554 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€453 | -€5,224 | -€442 | -€3,786 | -€1,764 | ▲ 53.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82,732 | €53,060 | €60,378 | €71,197 | €46,102 | ▼ 35.2% |
| Fixed assets21/28 | €7,126 | €4,056 | €2,123 | €5,943 | €25,782 | ▲ 334% |
| Tangible fixed assets22/27 | €6,856 | €3,786 | €1,853 | €5,673 | €25,512 | ▲ 350% |
| Plant, machinery and equipment23 | €880 | €1,862 | €1,853 | €5,673 | €5,425 | ▼ 4.4% |
| Furniture and vehicles24 | €5,976 | €1,924 | €0 | - | €20,087 | - |
| Financial fixed assets28 | €270 | €270 | €270 | €270 | €270 | = |
| Current assets29/58 | €75,606 | €49,004 | €58,255 | €65,255 | €20,320 | ▼ 68.9% |
| Stocks and contracts in progress3 | €12,043 | €1,584 | €1,917 | €10,981 | €1,024 | ▼ 90.7% |
| Stocks30/36 | €1,043 | €1,584 | €1,917 | €1,624 | €1,024 | ▼ 37.0% |
| Contracts in progress37 | €11,000 | €0 | - | €9,357 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €43,497 | €28,790 | €52,336 | €50,198 | €7,827 | ▼ 84.4% |
| Trade receivables40 | €42,647 | €27,872 | €51,393 | €49,289 | €6,579 | ▼ 86.7% |
| Other amounts receivable41 | €850 | €918 | €943 | €909 | €1,247 | ▲ 37.2% |
| Cash at bank and in hand54/58 | €15,991 | €10,972 | €0 | - | €5,666 | - |
| Deferred charges and accrued income490/1 | €4,075 | €7,658 | €4,002 | €4,076 | €5,803 | ▲ 42.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82,732 | €53,060 | €60,378 | €71,197 | €46,102 | ▼ 35.2% |
| Equity10/15 | €32,424 | €27,200 | €26,758 | €22,973 | €21,209 | ▼ 7.7% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €14,284 | €14,284 | €14,284 | €14,284 | €14,284 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €0 | - | - | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €12,425 | €12,425 | €14,284 | €14,284 | €14,284 | = |
| Profit (loss) carried forward14 | -€452 | -€5,676 | -€6,118 | -€9,903 | -€11,668 | ▼ 17.8% |
| Amounts payable17/49 | €50,307 | €25,860 | €33,619 | €48,224 | €24,893 | ▼ 48.4% |
| Amounts payable within one year42/48 | €50,307 | €25,860 | €33,443 | €48,224 | €24,893 | ▼ 48.4% |
| Financial debts43 | - | - | €3,345 | €4,724 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €3,345 | €4,724 | €0 | ▼ 100% |
| Trade debts44 | €20,267 | €3,425 | €4,507 | €13,779 | €12,622 | ▼ 8.4% |
| Suppliers440/4 | €20,267 | €3,425 | €4,507 | €13,779 | €12,622 | ▼ 8.4% |
| Taxes, remuneration and social security45 | €20,940 | €22,435 | €19,886 | €24,016 | €6,398 | ▼ 73.4% |
| Taxes450/3 | €14,828 | €11,018 | €5,201 | €9,291 | €1,489 | ▼ 84.0% |
| Remuneration and social security454/9 | €6,113 | €11,417 | €14,685 | €14,725 | €4,909 | ▼ 66.7% |
| Other amounts payable47/48 | €9,101 | €0 | €5,705 | €5,705 | €5,874 | ▲ 3.0% |
| Accrued charges and deferred income492/3 | - | - | €176 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,007 | -€5,224 | -€442 | -€3,786 | -€1,764 | ▲ 53.4% |
| + Depreciation and write-downs630 | €3,730 | €3,070 | €2,943 | €1,549 | €2,337 | ▲ 50.9% |
| Operating cash flow (approximation) | -€2,276 | -€2,155 | €2,501 | -€2,237 | €573 | ▲ 126% |
| Investment in fixed assets (approximation) | - | €0 | -€1,009 | -€5,369 | -€22,177 | ▼ 313% |
| Change in cash | - | -€5,019 | -€10,972 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €32,534
Net result €32,534 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Riemst · 1 establishment unit since 1990
Ground area
868 m²
Building footprint
111 m²
Volume, LiDAR
764 m³
Parcel 73027A0464/00D000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LUDO BVBA
since 19902.047.946.350
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73027A0464/00D000 | Flanders | 868 m² | 1 · 111 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 1,081 EUR awarded · 1,081 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 149 EUR | 149 EUR |
| 2024 | 1 | 932 EUR | 932 EUR |
Recognitions · licences · registrations
Dual-learning approval
4 endedAfwerking bouw duaal (so)
Stukadoor (so)
Stukadoor (vwo)
Stukadoor duaal (so)
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Of 4,020 companies in sector 43310 we hold annual accounts for 1,749. 1,366 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-03-1990
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
41001General construction of residential buildings
41003General construction of other non-residential buildings
43120Site preparation
43331Floor and wall tiling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440344465
Registered
18-04-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.