ACTIVE

LEONARDO

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Financial year 2025 · closed on 31/12/2025

Net result

831 k €

+2.6% YoY

Gross margin

1,4 M €

+2.6% YoY

Equity

4 M €

-2.9% YoY

What does LEONARDO do?

LEONARDO is a Public limited company incorporated in 1989. Its main activity is: Architectural activities. Its registered office is in Westerlo.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0439.675.858

Incorporation

29/12/1989

Legal form

Public limited company

Registered office

de Trannoyplein 1-3
2260 Westerlo · FlandreSee on map

Contributed capital

155 491,50 €

Latest accounts

31/12/2025

Activities (NACE)

71112Architectural activities· main 71112Architectural activities

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2006
Income statement
Gross margin	1,4 M €	+2.6%	1,4 M €	+40.1%	1 M €	+24.8%	804,7 k €	+1.7%	791,4 k €	+14.6%	690,5 k €	+36.0%	507,7 k €	-27.1%	696,3 k €	+59.3%	437,1 k €	+40.4%	311,3 k €	+119%	142 k €	+16.4%	122 k €	-19.1%	150,8 k €	-11.1%	169,5 k €	+450%	30,8 k €	-65.5%	89,5 k €	-8.8%	98,1 k €	-46.0%	181,6 k €	+494%	30,6 k €
EBITDA	1,4 M €	+2.5%	1,4 M €	+40.7%	992,7 k €	+24.1%	799,7 k €	+2.0%	784 k €	+14.6%	684 k €	+35.9%	503,4 k €	-25.6%	676,6 k €	+57.1%	430,7 k €	+41.2%	305,1 k €	+119%	139,5 k €	+27.7%	109,2 k €	-25.2%	146 k €	-12.1%	166 k €	+541%	25,9 k €	-68.4%	82,1 k €	-9.9%	91,1 k €	-48.0%	175,2 k €	+540%	27,4 k €
Operating result	1,2 M €	+4.5%	1,2 M €	+50.2%	781,4 k €	+32.8%	588,3 k €	+3.8%	566,9 k €	+13.6%	499 k €	+39.2%	358,5 k €	-35.2%	553,5 k €	+63.5%	338,6 k €	+55.8%	217,4 k €	+221%	67,6 k €	+4.0%	65 k €	-37.1%	103,3 k €	-18.6%	126,9 k €	+1854%	-7,2 k €	-117%	41,7 k €	-17.4%	50,5 k €	-63.4%	138 k €	+650%	18,4 k €
Net result	831 k €	+2.6%	809,9 k €	+53.1%	529,1 k €	+32.4%	399,6 k €	+3.5%	386,2 k €	+14.3%	337,9 k €	+45.5%	232,2 k €	-34.4%	353,7 k €	+78.5%	198,2 k €	+56.3%	126,8 k €	+217%	40 k €	+1.3%	39,5 k €	-37.2%	62,9 k €	-27.6%	86,9 k €	+1432%	-6,5 k €	-206%	6,1 k €	-77.4%	27,2 k €	-67.8%	84,6 k €	+775%	9,7 k €
Balance sheet
Equity	4 M €	-2.9%	4,1 M €	+24.3%	3,3 M €	+18.8%	2,8 M €	+16.6%	2,4 M €	+19.1%	2 M €	+20.1%	1,7 M €	+16.0%	1,5 M €	+32.2%	1,1 M €	+22.0%	900,6 k €	+16.4%	773,8 k €	+5.5%	733,8 k €	+5.7%	694,3 k €	+24.8%	556,3 k €	+18.5%	469,4 k €	-1.4%	475,9 k €	+1.5%	468,9 k €	+9.8%	426,8 k €	+187%	148,7 k €
Total assets	4,9 M €	-1.5%	4,9 M €	+18.8%	4,1 M €	+15.3%	3,6 M €	+9.6%	3,3 M €	+16.9%	2,8 M €	+16.5%	2,4 M €	+15.5%	2,1 M €	+30.0%	1,6 M €	+15.4%	1,4 M €	+4.6%	1,3 M €	+25.5%	1,1 M €	-12.1%	1,2 M €	+32.8%	906,8 k €	+25.7%	721,6 k €	-3.6%	748,6 k €	-12.0%	851,1 k €	+17.9%	721,6 k €	+193%	246,3 k €
Cash	5,7 k €	-48.5%	11,1 k €	-85.1%	74,5 k €	+5609%	1,3 k €	+45.1%	899,2 €	-75.4%	3,7 k €	+4475%	79,9 €	-61.6%	208,1 €	-92.0%	2,6 k €	+93.7%	1,3 k €	-58.7%	3,3 k €	+12426%	26 €	+180%	9,3 €		–		478,7 €	-45.5%	878,6 €	+198%	294,5 €	+24443%	1,2 €	-99.5%	265,9 €
Debts	823,4 k €	+5.8%	778,5 k €	-3.9%	810,5 k €	+2.5%	790,6 k €	-9.5%	873,3 k €	+11.4%	784,2 k €	+8.4%	723,8 k €	+14.2%	633,5 k €	+25.3%	505,7 k €	+3.3%	489,5 k €	-11.8%	555,2 k €	+70.8%	325,1 k €	-36.3%	510,1 k €	+45.5%	350,5 k €	+39.0%	252,2 k €	-7.5%	272,7 k €	-28.7%	382,2 k €	+29.7%	294,7 k €	+202%	97,7 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 21 ended

Active mandates

Leonia Heylen

Director

Active

Wastiau Guillaume

Director

Active

Ended mandates

Guillaume Wastiau

Director · since 02 juin 2020 · until 01 juin 2026

Ended

Leonia Heylen

Managing director · since 02 juin 2020 · until 01 juin 2026

Ended

Marie Wastiau

Director · since 02 juin 2020 · until 01 juin 2026

Ended

Marie Wastiau

Director · since 15 juillet 2014 · until 01 juin 2020

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	29/08/2025	31/07/2024	04/07/2023	04/07/2022	30/07/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	07/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	31/07/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	04/07/2023	Dutch	PDF
Micro model	31/12/2021	07/06/2022	04/07/2022	Dutch	PDF
Micro model	31/12/2020	07/06/2021	30/07/2021	Dutch	PDF
Micro model	31/12/2019	02/06/2020	01/10/2020	Dutch	PDF
Micro model	31/12/2018	03/06/2019	16/08/2019	Dutch	PDF
Micro model	31/12/2017	04/06/2018	31/07/2018	Dutch	PDF
Micro model	31/12/2016	06/06/2017	31/07/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	12/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	14/08/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	13/08/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	30/08/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	20/08/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	27/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 21 ended

Active mandates

Leonia Heylen

Director

Active

Wastiau Guillaume

Director

Active

Ended mandates

Guillaume Wastiau

Director · since 02 juin 2020 · until 01 juin 2026

Ended

Leonia Heylen

Managing director · since 02 juin 2020 · until 01 juin 2026

Ended

Marie Wastiau

Director · since 02 juin 2020 · until 01 juin 2026

Ended

Marie Wastiau

Director · since 15 juillet 2014 · until 01 juin 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/05/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/02/2013
KAPITAAL - AANDELEN
PDF
Mandates19/03/2010
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring03/08/2007
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Restructuring14/06/2007
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring22/03/2007
DIVERSEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025831 k €↑
2024
Annual accounts 2024809,9 k €↑
2023
Annual accounts 2023529,1 k €↑
2022
Annual accounts 2022399,6 k €↑
2021
Annual accounts 2021386,2 k €↑
2020
Annual accounts 2020337,9 k €↑
2019
Annual accounts 2019232,2 k €↓
2018
Annual accounts 2018353,7 k €↑
2017
Annual accounts 2017198,2 k €↑
2016
Annual accounts 2016126,8 k €↑
2015
Annual accounts 201540 k €↑
2014
Annual accounts 201439,5 k €↓
2013
Annual accounts 201362,9 k €↓
2012
Annual accounts 201286,9 k €↑
2011
Annual accounts 2011-6,5 k €↓
2010
Annual accounts 20106,1 k €↓
2009
Annual accounts 200927,2 k €↓
2008
Annual accounts 200884,6 k €↑
2006
Annual accounts 20069,7 k €
29/12/1989
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

LEONARDO

Overview

What does LEONARDO do?

Trend over 19 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline