Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 23 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2 to 1.1.
Financials
Financial year 2025
Athena from Ledegem, company number BE0555766943, closed financial year 2025 with a result of € 31,137 after tax. For that financial year Athena recorded a gross margin of € 170,364 and equity of € 213,529. Compared with financial year 2024, the result moved from € 112,292 to € 31,137. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on April 25, 2026.
€ 213,529
▲ 17% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 31,137
▼ 72% vs 2024
Profit after tax over the fiscal year.
€ 11,061
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 194,929.
People and assets in 2025
1.1
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 73,026
▼ 34% vs 2024
€ 66,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 277,006
▼ 20% vs 2024
€ 68,738 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 2,862
▼ 82% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,226
▼ 42% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 254,333 | € 303,514 | € 305,523 | € 170,364 | ▼ 44% |
| Profit after taxes | € 70,442 | € 99,895 | € 112,292 | € 31,137 | ▼ 72% |
| Equity | € 52,558 | € 70,100 | € 182,391 | € 213,529 | ▲ 17% |
| Total debts | € 656,486 | € 580,070 | € 440,284 | € 388,637 | ▼ 12% |
| Cash | € 32,523 | € 17,055 | € 0 | € 11,061 | |
| Land & buildings | € 651,370 | € 621,370 | € 591,370 | € 561,370 | ▼ 5% |
| Retained profit | € 33,958 | € 51,500 | € 163,791 | € 194,929 | ▲ 19% |
| Dividend | € 130,000 | € 82,353 | € 0 | € 0 | |
| Bank debt | € 480,353 | € 411,963 | € 348,382 | € 277,006 | ▼ 20% |
| Balance sheet total | € 709,043 | € 650,170 | € 622,675 | € 602,166 | ▼ 3% |
| Employees (FTE) | 2 | 2 | 1.6 | 1.1 | ▼ 0.5 |
Key figures of Athena, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to Athena?
What happened at Athena in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 31,137 (▼ 72% vs 2024). Source: NBB ↗
- New establishment in Ledegem. KBO
- Peter Espeel became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 70,442 profit in 2022 to € 31,137 profit in 2025.
Paid € 89,443 in corporate taxes since 2022.
Best year ever: 2024, with € 112,292 profit.
On average € 154,900 of value added per employee in 2025.
Management
Behind Athena is Peter Espeel.
Directors
According to the 2025 annual accounts
Peter Espeel
Director
since 2014
Establishments
Establishment units
Physical locations of this company
Hemelhoek 91
8880 Ledegem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0555.766.943
- VAT number
- BE 0555.766.943
- Registered office
- Hemelhoek 91, 8880 Ledegem
- Names & denominations
- Athena
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 17 June 2014
- Peppol
- Active · Active since 2 Oct 2025
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