LD
ActiveSummary
LD has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.33M and a net result of €1.33M. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 56% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+24
Solvency84▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €420k at 30 days acceptable
Liquidity ample (current ratio 1.68 against 1.73 in 2024; short-term debt: 33.5% and cash: 2.6% of total assets), and 41.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
58.7%
Return on assets
14.7%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
109 d late
2023
on the day
2022
3 d early
2021
10 d early
2020
3 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€5.33M▲ 17.2%
2024 · €4.55M
2019: €3.15Mlowest in 7 years
2020: €3.23M▲ +2.6% vs 2019
2021: €3.41M▲ +5.4% vs 2020
2022: €3.71M▲ +8.9% vs 2021
2023: €3.98M▲ +7.3% vs 2022
2024: €4.55M▲ +14.1% vs 2023
2025: €5.33M▲ +17.2% vs 2024highest in 7 years
2019 → 2025
Total assets
€9.07M▲ 8.0%
2024 · €8.40M
2019: €4.18M
2020: €3.84M▼ -8.2% vs 2019lowest in 7 years
2021: €4.50M▲ +17.3% vs 2020
2022: €5.27M▲ +17.2% vs 2021
2023: €6.83M▲ +29.5% vs 2022
2024: €8.40M▲ +23.1% vs 2023
2025: €9.07M▲ +8.0% vs 2024highest in 7 years
2019 → 2025
Net result
€1.33M▲ 137%
2024 · €563k
2019: €298k
2020: €81k▼ -72.7% vs 2019lowest in 7 years
2021: €176k▲ +117% vs 2020
2022: €302k▲ +71.5% vs 2021
2023: €271k▼ -10.4% vs 2022
2024: €563k▲ +108% vs 2023
2025: €1.33M▲ +137% vs 2024highest in 7 years
2019 → 2025
Working capital
€2.07M▼ 10.9%
2024 · €2.32M
2019: €1.61M
2020: €1.72M▲ +6.4% vs 2019
2021: €1.35M▼ -21.6% vs 2020
2022: €2.01M▲ +49.7% vs 2021
2023: €1.19M▼ -40.9% vs 2022lowest in 7 years
2024: €2.32M▲ +95.2% vs 2023highest in 7 years
2025: €2.07M▼ -10.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.41M-€3.71M▲ 8.9%€3.98M▲ 7.3%€4.55M▲ 14.1%€5.33M▲ 17.2%
2021: €3.41Mlowest in 5 years
2022: €3.71M▲ +8.9% vs 2021
2023: €3.98M▲ +7.3% vs 2022
2024: €4.55M▲ +14.1% vs 2023
2025: €5.33M▲ +17.2% vs 2024highest in 5 years
Operating result€170k-€333k▲ 95.8%€273k▼ 17.8%€732k▲ 168%€1.72M▲ 135%
2021: €170klowest in 5 years
2022: €333k▲ +95.8% vs 2021
2023: €273k▼ -17.8% vs 2022
2024: €732k▲ +168% vs 2023
2025: €1.72M▲ +135% vs 2024highest in 5 years
Net result€176k-€302k▲ 71.5%€271k▼ 10.4%€563k▲ 108%€1.33M▲ 137%
2021: €176klowest in 5 years
2022: €302k▲ +71.5% vs 2021
2023: €271k▼ -10.4% vs 2022
2024: €563k▲ +108% vs 2023
2025: €1.33M▲ +137% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 135% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.07M
Fixed assets
€3.97M ▲ 37.6%
Current assets
€5.11M ▼ 7.5%
Equity and liabilities €9.07M
Equity
€5.33M ▲ 17.2%
Debt
€3.74M ▼ 3.0%
Debt's share of the balance-sheet total falls from 45.9% to 41.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.79M▲
2024 · €801k
Cash flow
€1.40M▲
2024 · €632k
Current ratio
1.68▼
2024 · 1.73
Quick ratio
1.36▼
2024 · 1.43
Debt to equity
0.70▼
2024 · 0.85
ROE
25.0%▲
2024 · 12.4%
ROA
14.7%▲
2024 · 6.7%
Interest coverage
8.50▲
2024 · 4.31
Debt ≤ 1 year
€3.04M▼
2024 · €3.20M
Debt > 1 year
€546k▼
2024 · €653k
Income taxes
€422k▲
2024 · €173k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8.40M€9.07M▲
Fixed assets21/28€2.88M€3.97M▲
Tangible fixed assets22/27€1.68M€1.62M▼
Land and buildings22€1.67M€1.61M▼
Plant, machinery and equipment23-€730
Furniture and vehicles24€15k€5k▼
Financial fixed assets28€1.20M€2.35M▲
Current assets29/58€5.52M€5.11M▼
Stocks and contracts in progress3€941k€985k▲
Stocks30/36€941k€985k▲
Amounts receivable within one year40/41€1.30M€2.57M▲
Trade receivables40€29k€120k▲
Other amounts receivable41€1.27M€2.45M▲
Current investments50/53€1.52M€1.30M▼
Cash at bank and in hand54/58€1.75M€234k▼
Deferred charges and accrued income490/1€11k€17k▲
Equity and liabilities
Total equity and liabilities10/49€8.40M€9.07M▲
Equity10/15€4.55M€5.33M▲
Contributions10/11€19k€19k=
Reserves13€4.09M€5.30M▲
Tax-exempt reserves132€287k€546k▲
Distributable reserves133€3.80M€4.75M▲
Profit (loss) carried forward14€438k€14k▼
Amounts payable17/49€3.86M€3.74M▼
Amounts payable after more than one year17€653k€546k▼
Financial debts170/4€653k€546k▼
Amounts payable within one year42/48€3.20M€3.04M▼
Current portion of amounts payable after more than one year42€38k€72k▲
Financial debts43€1.58M€1.24M▼
Credit institutions430/8€569k€369k▼
Other loans439€1.01M€873k▼
Trade debts44€3k€5k▲
Suppliers440/4€3k€5k▲
Advances received on contracts in progress46€2k€2k=
Taxes, remuneration and social security45€62k€61k▼
Taxes450/3€62k€61k▼
Other amounts payable47/48€1.52M€1.66M▲
Accrued charges and deferred income492/3€5k€162k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€69k€69k▲
Other operating charges640/8€7k€7k▼
Gross operating margin9900€808k€1.80M▲
Operating profit (loss)9901€732k€1.72M▲
Financial income75/76B€189k€245k▲
Recurring financial income75€189k€245k▲
Financial charges65/66B€186k€211k▲
Recurring financial charges65€186k€211k▲
Profit (loss) for the period before taxes9903€736k€1.75M▲
Income taxes67/77€173k€422k▲
Profit (loss) for the period9904€563k€1.33M▲
Transfer to tax-exempt reserves689€109k€259k▲
Profit (loss) for the period to be appropriated9905€453k€1.07M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.44M€1.51M▲
Profit (loss) brought forward from the previous period14P€985k€440k▼
Transfer from equity791/2-€552k
Transfer to equity691/2€1.00M€1.50M▲
To other reserves6921€1.00M€1.50M▲
Profit to be distributed694/7-€552k
Return on contributions (dividend)694-€552k
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €94k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51k | €38k | €248k | €69k | €69k | ▲ 0.5% |
| Other operating charges640/8 | - | €7k | €7k | €7k | €7k | ▼ 6.2% |
| Gross operating margin9900 | €226k | €378k | €528k | €808k | €1.80M | ▲ 122% |
| Operating profit (loss)9901 | €170k | €333k | €273k | €732k | €1.72M | ▲ 135% |
| Financial income75/76B | - | €100k | €130k | €189k | €245k | ▲ 29.4% |
| Recurring financial income75 | €55k | €100k | €130k | €189k | €245k | ▲ 29.4% |
| Financial charges65/66B | - | €42k | €62k | €186k | €211k | ▲ 13.3% |
| Recurring financial charges65 | €25k | €42k | €62k | €186k | €211k | ▲ 13.3% |
| Profit (loss) for the period before taxes9903 | €200k | €391k | €341k | €736k | €1.75M | ▲ 139% |
| Income taxes67/77 | €24k | €89k | €70k | €173k | €422k | ▲ 144% |
| Profit (loss) for the period9904 | €176k | €302k | €271k | €563k | €1.33M | ▲ 137% |
| Transfer to tax-exempt reserves689 | - | €137k | - | €109k | €259k | ▲ 137% |
| Profit (loss) for the period to be appropriated9905 | €136k | €165k | €271k | €453k | €1.07M | ▲ 137% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.50M | €5.27M | €6.83M | €8.40M | €9.07M | ▲ 8.0% |
| Fixed assets21/28 | €2.08M | €1.91M | €2.95M | €2.88M | €3.97M | ▲ 37.6% |
| Tangible fixed assets22/27 | €880k | €715k | €1.75M | €1.68M | €1.62M | ▼ 4.1% |
| Land and buildings22 | - | €683k | €1.73M | €1.67M | €1.61M | ▼ 3.6% |
| Plant, machinery and equipment23 | - | - | - | - | €730 | - |
| Furniture and vehicles24 | - | - | - | €15k | €5k | ▼ 63.3% |
| Leasing and similar rights25 | - | €32k | €23k | - | - | - |
| Financial fixed assets28 | €1.20M | €1.20M | €1.20M | €1.20M | €2.35M | ▲ 96.2% |
| Current assets29/58 | €2.42M | €3.36M | €3.88M | €5.52M | €5.11M | ▼ 7.5% |
| Stocks and contracts in progress3 | €518k | €912k | €1.04M | €941k | €985k | ▲ 4.6% |
| Stocks30/36 | - | €912k | €1.04M | €941k | €985k | ▲ 4.6% |
| Amounts receivable within one year40/41 | €289k | €391k | €476k | €1.30M | €2.57M | ▲ 97.8% |
| Trade receivables40 | - | €15k | €28k | €29k | €120k | ▲ 313% |
| Other amounts receivable41 | - | €376k | €448k | €1.27M | €2.45M | ▲ 92.9% |
| Current investments50/53 | €1.54M | €1.33M | €1.62M | €1.52M | €1.30M | ▼ 14.7% |
| Cash at bank and in hand54/58 | €69k | €725k | €737k | €1.75M | €234k | ▼ 86.6% |
| Deferred charges and accrued income490/1 | - | €4k | €3k | €11k | €17k | ▲ 44.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.50M | €5.27M | €6.83M | €8.40M | €9.07M | ▲ 8.0% |
| Equity10/15 | €3.41M | €3.71M | €3.98M | €4.55M | €5.33M | ▲ 17.2% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2.84M | €2.98M | €2.98M | €4.09M | €5.30M | ▲ 29.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €177k | €177k | €287k | €546k | ▲ 90.3% |
| Distributable reserves133 | - | €2.80M | €2.80M | €3.80M | €4.75M | ▲ 24.9% |
| Profit (loss) carried forward14 | €550k | €714k | €985k | €438k | €14k | ▼ 96.8% |
| Amounts payable17/49 | €1.09M | €1.56M | €2.84M | €3.86M | €3.74M | ▼ 3.0% |
| Amounts payable after more than one year17 | - | €166k | €108k | €653k | €546k | ▼ 16.4% |
| Financial debts170/4 | - | €166k | €108k | €653k | €546k | ▼ 16.4% |
| Amounts payable within one year42/48 | €1.07M | €1.35M | €2.69M | €3.20M | €3.04M | ▼ 5.1% |
| Current portion of amounts payable after more than one year42 | - | €62k | €7k | €38k | €72k | ▲ 89.8% |
| Financial debts43 | - | €844k | €1.58M | €1.58M | €1.24M | ▼ 21.3% |
| Credit institutions430/8 | - | €844k | €1.58M | €569k | €369k | ▼ 35.2% |
| Other loans439 | - | - | - | €1.01M | €873k | ▼ 13.6% |
| Trade debts44 | €131 | €12k | €48k | €3k | €5k | ▲ 65.4% |
| Suppliers440/4 | - | €12k | €48k | €3k | €5k | ▲ 65.4% |
| Advances received on contracts in progress46 | - | €1k | €4k | €2k | €2k | = |
| Taxes, remuneration and social security45 | - | - | €7k | €62k | €61k | ▼ 0.9% |
| Taxes450/3 | - | - | €7k | €62k | €61k | ▼ 0.9% |
| Other amounts payable47/48 | - | €427k | €1.04M | €1.52M | €1.66M | ▲ 9.1% |
| Accrued charges and deferred income492/3 | - | €48k | €49k | €5k | €162k | ▲ 2,938% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €176k | €302k | €271k | €563k | €1.33M | ▲ 137% |
| + Depreciation and write-downs630 | €51k | €38k | €248k | €69k | €69k | ▲ 0.5% |
| Operating cash flow (approximation) | €227k | €340k | €519k | €632k | €1.40M | ▲ 122% |
| Investment in fixed assets (approximation) | - | €127k | €-1.29M | €-1k | €-1.15M | ▼ 83,219% |
| Change in cash | - | €655k | €12k | €1.01M | €-1.51M | ▼ 250% |
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
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2019net €1.33M ▲137%
Operating result €1.72M, net result €1.33M, both a record.
31-03
Financial
Equity above €5MEq €5.33M ▲17.2%
7 profitable years in a row build equity to €5.33M.
17-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 109 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Weakest financial yearnet €81k ▼72.7%
Net result drops to €81k, the lowest in the series; recovery starts the following year.
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
08-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are 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, Torhout · 1 establishment unit since 2005
Ground area
2,549 m²
Building footprint
200 m²
Volume, LiDAR
1,186 m³
Parcel 31522D0487/00E000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
L&D
since 20052.145.145.991
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31522D0487/00E000 | Flanders | 2,549 m² | 1 · 200 m² | 9.0 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600JXPGN9DZKZPN29
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 10,770 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
Founded01-02-2005
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.