tLeegveld
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-04-2026 PDF all 5 filings
Turnover
≈ €170,000
Estimated: probably between €120,000 and €210,000
Total assets
€135,304▲ 69.7%
2024 · €79,740
Net result
€55,719▲ 108%
2024 · €26,737
Working capital
€48,059▲ 20×
2024 · €2,361
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€73,547
▲ 71.7%
2025
20212025
Net result
€55,719
▲ 108%
2025
middle half of the sector
20212025
Equity
€95,481
▲ 130%
2025
middle half of the sector
20212025
Total assets
€135,304
▲ 69.7%
2025
middle half of the sector
20212025
Debt
€39,824
▲ 3.9%
2025
20212025
Working capital
€48,059
▲ 20×
2025
middle half of the sector
20212025
Solvency
70.6%
▲ 18.6pp
2025
middle half of the sector
20212025
Current ratio
2.24
▲ 1.18
2025
middle half of the sector
20212025
Return on assets (ROA)
41.2%
▲ 7.7pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,191-€12,281▲ 20.5%€6,110▼ 50.2%€42,826▲ 601%€73,547▲ 71.7%
Net result€8,669within the sector's middle half-€6,660within the sector's middle half▼ 23.2%€2,474below the sector's middle half▼ 62.8%€26,737within the sector's middle half▲ 981%€55,719within the sector's middle half▲ 108%
Equity€5,557below the sector's middle half-€12,217below the sector's middle half▲ 120%€14,691below the sector's middle half▲ 20.3%€41,427within the sector's middle half▲ 182%€95,481within the sector's middle half▲ 130%
Total assets€40,918below the sector's middle half-€54,004below the sector's middle half▲ 32.0%€51,704below the sector's middle half▼ 4.3%€79,740below the sector's middle half▲ 54.2%€135,304within the sector's middle half▲ 69.7%
Debt€35,361-€41,787▲ 18.2%€37,013▼ 11.4%€38,312▲ 3.5%€39,824▲ 3.9%
Working capital€2,187within the sector's middle half--€5,826below the sector's middle half-€14,779below the sector's middle half▼ 154%€2,361within the sector's middle half€48,059within the sector's middle half▲ 20×
Solvency13.6%below the sector's middle half-22.6%below the sector's middle half▲ 9.0pp28.4%within the sector's middle half▲ 5.8pp52.0%within the sector's middle half▲ 23.5pp70.6%within the sector's middle half▲ 18.6pp
Current ratio1.06within the sector's middle half-0.86below the sector's middle half▼ 0.200.60below the sector's middle half▼ 0.261.06within the sector's middle half▲ 0.462.24within the sector's middle half▲ 1.18
Return on assets (ROA)21.2%within the sector's middle half-12.3%within the sector's middle half▼ 8.9pp4.8%within the sector's middle half▼ 7.5pp33.5%above the sector's middle half▲ 28.7pp41.2%above the sector's middle half▲ 7.7pp
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 2025 is 72% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €135,304
Fixed assets
€48,436 ▲ 24.0%
Current assets
€86,868 ▲ 114%
Equity and liabilities €135,304
Equity
€95,481 ▲ 130%
Debt
€39,824 ▲ 3.9%
Debt's share of the balance-sheet total falls from 48.0% to 29.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€79,922▲
2024 · €50,112
Cash flow
€62,094▲
2024 · €34,023
Quick ratio
2.22▲
2024 · 1.01
Debt to equity
0.42▼
2024 · 0.92
ROE
58.4%▼
2024 · 64.5%
Interest coverage
32.02▼
2024 · over 100
Debt ≤ 1 year
€38,809▲
2024 · €38,312
Income taxes
€22,441▲
2024 · €15,639
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €16,672 | €15,944 | €16,883 | €18,202 |
| Depreciation and write-downs of the year | €2,446 | €4,517 | €7,286 | €6,375 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,167 | €2,446 | €4,517 | €7,286 | €6,375 | ▼ 12.5% |
| Other operating charges640/8 | - | €524 | €525 | €723 | €603 | ▼ 16.6% |
| Non-recurring operating charges66A | - | - | - | - | €723 | - |
| Gross operating margin9900 | €16,141 | €15,250 | €11,151 | €50,835 | €81,249 | ▲ 59.8% |
| Operating profit (loss)9901 | €10,191 | €12,281 | €6,110 | €42,826 | €73,547 | ▲ 71.7% |
| Financial income75/76B | - | - | €0 | €5 | €7,109 | ▲ 1,413× |
| Recurring financial income75 | €0 | - | €0 | €5 | €0 | ▼ 98.8% |
| Non-recurring financial income76B | - | - | - | - | €7,109 | - |
| Financial charges65/66B | - | €228 | €187 | €456 | €2,496 | ▲ 448% |
| Recurring financial charges65 | €823 | €228 | €187 | €456 | €2,496 | ▲ 448% |
| Profit (loss) for the period before taxes9903 | €9,368 | €12,053 | €5,924 | €42,375 | €78,160 | ▲ 84.4% |
| Income taxes67/77 | €699 | €5,393 | €3,449 | €15,639 | €22,441 | ▲ 43.5% |
| Profit (loss) for the period9904 | €8,669 | €6,660 | €2,474 | €26,737 | €55,719 | ▲ 108% |
| Profit (loss) for the period to be appropriated9905 | €8,669 | €6,660 | €2,474 | €26,737 | €55,719 | ▲ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40,918 | €54,004 | €51,704 | €79,740 | €135,304 | ▲ 69.7% |
| Fixed assets21/28 | €3,816 | €18,042 | €29,470 | €39,067 | €48,436 | ▲ 24.0% |
| Intangible fixed assets21 | €2,523 | €1,923 | €1,323 | €723 | - | - |
| Tangible fixed assets22/27 | €1,293 | €16,119 | €28,146 | €38,343 | €48,436 | ▲ 26.3% |
| Plant, machinery and equipment23 | - | €272 | €506 | €1,193 | €1,775 | ▲ 48.8% |
| Furniture and vehicles24 | - | €6,526 | €4,731 | €5,690 | €4,532 | ▼ 20.4% |
| Other tangible fixed assets26 | - | €9,321 | €22,909 | €31,460 | €42,129 | ▲ 33.9% |
| Current assets29/58 | €37,102 | €35,962 | €22,235 | €40,673 | €86,868 | ▲ 114% |
| Stocks and contracts in progress3 | - | - | - | €2,122 | €590 | ▼ 72.2% |
| Stocks30/36 | - | - | - | €2,122 | €590 | ▼ 72.2% |
| Amounts receivable within one year40/41 | €9,294 | €32,248 | €7,627 | €5,682 | €41,121 | ▲ 624% |
| Trade receivables40 | - | €32,248 | €7,627 | €4,908 | €40,371 | ▲ 723% |
| Other amounts receivable41 | - | - | - | €774 | €749 | ▼ 3.3% |
| Cash at bank and in hand54/58 | €26,446 | €2,926 | €14,094 | €23,831 | €32,864 | ▲ 37.9% |
| Deferred charges and accrued income490/1 | - | €788 | €513 | €9,037 | €12,294 | ▲ 36.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40,918 | €54,004 | €51,704 | €79,740 | €135,304 | ▲ 69.7% |
| Equity10/15 | €5,557 | €12,217 | €14,691 | €41,427 | €95,481 | ▲ 130% |
| Contributions10/11 | - | €200 | €200 | €200 | €200 | = |
| Reserves13 | €8,958 | €12,017 | €14,491 | €41,227 | €95,281 | ▲ 131% |
| Distributable reserves133 | - | €12,017 | €14,491 | €41,227 | €95,281 | ▲ 131% |
| Profit (loss) carried forward14 | -€3,601 | - | - | - | - | - |
| Amounts payable17/49 | €35,361 | €41,787 | €37,013 | €38,312 | €39,824 | ▲ 3.9% |
| Amounts payable within one year42/48 | €34,915 | €41,787 | €37,013 | €38,312 | €38,809 | ▲ 1.3% |
| Trade debts44 | €6,696 | €637 | €5,307 | €8,425 | €5,961 | ▼ 29.2% |
| Suppliers440/4 | - | €637 | €5,307 | €8,425 | €5,961 | ▼ 29.2% |
| Taxes, remuneration and social security45 | - | €7,631 | €1,585 | €6,251 | €21,265 | ▲ 240% |
| Taxes450/3 | - | €7,631 | €1,585 | €4,006 | €18,189 | ▲ 354% |
| Remuneration and social security454/9 | - | - | - | €2,245 | €3,076 | ▲ 37.0% |
| Other amounts payable47/48 | - | €33,519 | €30,121 | €23,636 | €11,584 | ▼ 51.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,015 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,669 | €6,660 | €2,474 | €26,737 | €55,719 | ▲ 108% |
| + Depreciation and write-downs630 | €5,167 | €2,446 | €4,517 | €7,286 | €6,375 | ▼ 12.5% |
| Operating cash flow (approximation) | €13,836 | €9,105 | €6,991 | €34,023 | €62,094 | ▲ 82.5% |
| Investment in fixed assets (approximation) | - | -€16,672 | -€15,944 | -€16,883 | -€15,745 | ▲ 6.7% |
| Change in cash | - | -€23,520 | €11,168 | €9,737 | €9,033 | ▼ 7.2% |
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, 34,693 companies had the same profile as tLeegveld has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of tLeegveld itself: < 0.1% within 12 months.
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 34,693 companies, not a prediction for tLeegveld. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 07-04-2026 | 2026-00076151 | |
| 30-09-2024 | micro format | 01-04-2025 | 2025-00062071 | |
| 30-09-2023 | micro format | 28-03-2024 | 2024-00054703 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00053858 | |
| 30-09-2021 | micro format | 31-03-2022 | 2022-09500568 |