LUDUS
ActiveSummary
LUDUS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€14,800) and a net result of -€8,170. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 2357 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▲+59
Solvency22▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.15 against 0.21 in 2024; short-term debt: 103.3% and cash: 0.3% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer 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
-3.3%
Return on assets
-1.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€14,800
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
27 d late
2023
22 d late
2022
31 d late
2021
9 d late
2020
31 d late
2019
87 d late
← 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 33 days after 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 26 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€14,800▼ 123%
2024 · -€6,630
Total assets
€452,752▼ 13.4%
2024 · €522,682
Net result
-€8,170▲ 83.1%
2024 · -€48,481
Working capital
-€398,408▲ 4.8%
2024 · -€418,290
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation 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€4,131▼ 34.7%€22,335▲ 441%€3,641▼ 83.7%-€48,485-€7,057▲ 85.4%
Net result€2,539within the sector's middle half▼ 32.5%€20,318within the sector's middle half▲ 700%€1,745within the sector's middle half▼ 91.4%-€48,481below the sector's middle half-€8,170below the sector's middle half▲ 83.1%
Equity€19,788within the sector's middle half▲ 14.7%€40,106within the sector's middle half▲ 103%€41,851within the sector's middle half▲ 4.4%-€6,630below the sector's middle half-€14,800below the sector's middle half▼ 123%
Total assets€608,615above the sector's middle half▲ 6.3%€632,878above the sector's middle half▲ 4.0%€606,436above the sector's middle half▼ 4.2%€522,682above the sector's middle half▼ 13.8%€452,752above the sector's middle half▼ 13.4%
Debt€588,827▲ 6.0%€592,773▲ 0.7%€564,584▼ 4.8%€529,312▼ 6.2%€467,551▼ 11.7%
Working capital-€388,323below the sector's middle half▼ 19.1%-€436,885below the sector's middle half▼ 12.5%-€399,930below the sector's middle half▲ 8.5%-€418,290below the sector's middle half▼ 4.6%-€398,408below the sector's middle half▲ 4.8%
Solvency3.3%within the sector's middle half▲ 0.2pp6.3%within the sector's middle half▲ 3.1pp6.9%within the sector's middle half▲ 0.6pp-1.3%within the sector's middle half▼ 8.2pp-3.3%below the sector's middle half▼ 2.0pp
Current ratio0.34below the sector's middle half▼ 0.050.26below the sector's middle half▼ 0.080.29below the sector's middle half▲ 0.030.21below the sector's middle half▼ 0.080.15below the sector's middle half▼ 0.06
Return on assets (ROA)0.4%within the sector's middle half▼ 0.2pp3.2%within the sector's middle half▲ 2.8pp0.3%within the sector's middle half▼ 2.9pp-9.3%below the sector's middle half▼ 9.6pp-1.8%within the sector's middle half▲ 7.5pp
Staff (FTE)11=0.3▼ 70.0%
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation 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 stays negative: a loss of €7,057 in 2025 against €48,485 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €452,752
Fixed assets
€383,608 ▼ 6.8%
Current assets
€69,143 ▼ 37.7%
Key figures and ratios
EBITDA
€24,576▲
2024 · -€15,501
Cash flow
€23,463▲
2024 · -€15,497
Debt to equity
-31.59▲
2024 · -79.83
Interest coverage
35.99▲
2024 · -162.12
Debt ≤ 1 year
€467,551▼
2024 · €529,312
Income taxes
€430
Staff costs
-€84▼
2024 · €14,714
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.6%
went bankrupt
3.8%
stopped otherwise
93%
still going
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,242 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 | - | €2,163 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €23,198 | €27,654 | €14,714 | -€84 | ▼ 101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,559 | €51,046 | €40,970 | €32,984 | €31,633 | ▼ 4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €60,258 | - | - | - | - |
| Other operating charges640/8 | €4,851 | €2,816 | €7,707 | €4,795 | €5,295 | ▲ 10.4% |
| Non-recurring operating charges66A | - | €17,450 | €4,200 | - | - | - |
| Gross operating margin9900 | €72,541 | €177,103 | €84,172 | €4,008 | €29,787 | ▲ 643% |
| Operating profit (loss)9901 | €4,131 | €22,335 | €3,641 | -€48,485 | -€7,057 | ▲ 85.4% |
| Financial income75/76B | €60 | €63 | €78 | €99 | €0 | ▼ 99.9% |
| Recurring financial income75 | €60 | €63 | €78 | €99 | €0 | ▼ 99.9% |
| Financial charges65/66B | €1,504 | €642 | €97 | €96 | €683 | ▲ 614% |
| Recurring financial charges65 | €1,504 | €642 | €97 | €96 | €683 | ▲ 614% |
| Profit (loss) for the period before taxes9903 | €2,686 | €21,757 | €3,622 | -€48,481 | -€7,740 | ▲ 84.0% |
| Income taxes67/77 | €147 | €1,439 | €1,877 | - | €430 | - |
| Profit (loss) for the period9904 | €2,539 | €20,318 | €1,745 | -€48,481 | -€8,170 | ▲ 83.1% |
| Profit (loss) for the period to be appropriated9905 | €2,539 | €20,318 | €1,745 | -€48,481 | -€8,170 | ▲ 83.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €608,615 | €632,878 | €606,436 | €522,682 | €452,752 | ▼ 13.4% |
| Fixed assets21/28 | €410,211 | €476,991 | €441,781 | €411,660 | €383,608 | ▼ 6.8% |
| Tangible fixed assets22/27 | €410,211 | €476,991 | €441,781 | €411,660 | €383,608 | ▼ 6.8% |
| Land and buildings22 | €391,961 | €433,115 | €413,340 | €391,001 | €368,001 | ▼ 5.9% |
| Plant, machinery and equipment23 | €2,712 | €2,943 | €1,672 | €547 | €412 | ▼ 24.8% |
| Furniture and vehicles24 | €13,338 | €36,355 | €23,626 | €17,353 | €12,822 | ▼ 26.1% |
| Other tangible fixed assets26 | €2,199 | €4,579 | €3,143 | €2,758 | €2,374 | ▼ 13.9% |
| Current assets29/58 | €198,404 | €155,888 | €164,655 | €111,022 | €69,143 | ▼ 37.7% |
| Amounts receivable within one year40/41 | €193,326 | €155,512 | €163,913 | €109,619 | €66,836 | ▼ 39.0% |
| Trade receivables40 | €12,258 | - | €12,266 | €69,972 | €62,201 | ▼ 11.1% |
| Other amounts receivable41 | €181,068 | €155,512 | €151,647 | €39,647 | €4,635 | ▼ 88.3% |
| Cash at bank and in hand54/58 | €5,078 | €376 | €741 | €716 | €1,574 | ▲ 120% |
| Deferred charges and accrued income490/1 | - | - | - | €688 | €733 | ▲ 6.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €608,615 | €632,878 | €606,436 | €522,682 | €452,752 | ▼ 13.4% |
| Equity10/15 | €19,788 | €40,106 | €41,851 | -€6,630 | -€14,800 | ▼ 123% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €10,083 | €10,083 | €11,829 | €11,829 | €11,829 | = |
| Non-distributable reserves130/1 | €1,041 | €1,041 | €1,041 | €1,041 | €1,041 | = |
| Reserves not available under the articles1311 | €1,041 | €1,041 | €1,041 | €1,041 | €1,041 | = |
| Distributable reserves133 | €9,042 | €9,042 | €10,788 | €10,788 | €10,788 | = |
| Profit (loss) carried forward14 | €3,505 | €23,822 | €23,822 | -€24,659 | -€32,829 | ▼ 33.1% |
| Amounts payable17/49 | €588,827 | €592,773 | €564,584 | €529,312 | €467,551 | ▼ 11.7% |
| Amounts payable after more than one year17 | €2,100 | - | - | - | - | - |
| Other amounts payable178/9 | €2,100 | - | - | - | - | - |
| Amounts payable within one year42/48 | €586,727 | €592,773 | €564,584 | €529,312 | €467,551 | ▼ 11.7% |
| Current portion of amounts payable after more than one year42 | €19,977 | - | - | - | - | - |
| Financial debts43 | €231,865 | €211,865 | €211,865 | - | - | - |
| Other loans439 | €231,865 | €211,865 | €211,865 | - | - | - |
| Trade debts44 | €36,744 | €6,598 | €13,213 | €71,266 | €10,252 | ▼ 85.6% |
| Suppliers440/4 | €36,744 | €6,598 | €13,213 | €71,266 | €10,252 | ▼ 85.6% |
| Taxes, remuneration and social security45 | €147 | €1,684 | €13,300 | €881 | €546 | ▼ 38.0% |
| Taxes450/3 | €147 | €1,642 | €10,039 | €839 | €546 | ▼ 35.0% |
| Remuneration and social security454/9 | - | €42 | €3,261 | €41 | - | - |
| Other amounts payable47/48 | €297,993 | €372,625 | €326,207 | €457,165 | €456,753 | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,539 | €20,318 | €1,745 | -€48,481 | -€8,170 | ▲ 83.1% |
| + Depreciation and write-downs630 | €63,559 | €51,046 | €40,970 | €32,984 | €31,633 | ▼ 4.1% |
| Operating cash flow (approximation) | €66,098 | €71,364 | €42,715 | -€15,497 | €23,463 | ▲ 251% |
| Investment in fixed assets (approximation) | - | -€117,826 | -€5,760 | -€2,863 | -€3,582 | ▼ 25.1% |
| Change in cash | - | -€4,702 | €365 | -€25 | €859 | ▲ 3,478% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet -€48,481
Net result drops to -€48,481, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €3,762
Net result €3,762 after one loss-making year.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-06
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, Meise · 1 establishment unit since 2004
Ground area
663 m²
Building footprint
156 m²
Volume, LiDAR
960 m³
Parcel 23050F0064/00P002, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ludus
since 20042.136.720.453
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23050F0064/00P002 | Flanders | 663 m² | 1 · 156 m² | 9.7 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.
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Of 6,735 companies in sector 93299 we hold annual accounts for 1,169. 907 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 (pre-2019)
Founded08-03-2004
Fiscal year end31-12
Activities, NACEBEL 2025
93299Other amusement and recreation activities
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0863883582
Also
9925:BE0863883582
Registered
10-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.