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DR. AN LANCKMAN

Active
Private limited companyfounded 2002active for 23 yearsZuster Lambertinestraat 12, 9340 Lede, BelgiumKBO/BCE: BE 0478.635.513
Summary

DR. AN LANCKMAN has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €165,663 and a net result of €80,904. Equity is shrinking by about 25% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.5% (low).

Financials · financial year 2025, micro format

Equity
€165,663▲ 95.5%
2024 · €84,760
Total assets
€215,263▼ 52.9%
2024 · €457,183
Net result
€80,904▼ 19.6%
2024 · €100,592
Working capital
€7,897
2024 · -€80,796
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result falls in 2025; 2025 is 21% below 2024.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€102,018 2025 Net result€80,904 2025

Use the arrow keys on the chart for the figures per year.

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result€82,912-€6,375▼ 92.3%€115,344▲ 1,709%€206,142▲ 78.7%€65,477▼ 68.2%€129,748▲ 98.2%€102,018▼ 21.4%
Net result€75,891-€11,297▼ 85.1%€97,168▲ 760%€154,954▲ 59.5%€46,408▼ 70.1%€100,592▲ 117%€80,904▼ 19.6%
Equity€758,441-€769,739▲ 1.5%€93,606▼ 87.8%€248,560▲ 166%€294,968▲ 18.7%€84,760▼ 71.3%€165,663▲ 95.5%
Total assets€783,781-€889,084▲ 13.4%€981,367▲ 10.4%€309,893▼ 68.4%€390,799▲ 26.1%€457,183▲ 17.0%€215,263▼ 52.9%
Debt€25,339-€119,345▲ 371%€887,761▲ 644%€61,333▼ 93.1%€95,831▲ 56.2%€372,424▲ 289%€49,600▼ 86.7%
Working capital€548,756-€363,853▼ 33.7%-€294,423€85,557€118,087▲ 38.0%-€80,796€7,897
Staff (FTE)0.10.2▲ 100%0.2=0.2=0.2=
Turnover and EBIT margin not published: the micro format does not require them.
Why a figure moved sharply
  • 2023 Net result -70% on 2022. The previous financial year ran 18 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215,263
Fixed assets €163,197 ▼ 14.1%
Current assets €52,067 ▼ 80.5%
Equity and liabilities €215,263
Equity €165,663 ▲ 95.5%
Debt €49,600 ▼ 86.7%
Debt's share of the balance-sheet total falls from 81.5% to 23.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€136,232▼
2024 · €166,558
Cash flow
€115,118▼
2024 · €137,402
Current ratio
1.18▲
2024 · 0.77
Debt to equity
0.30▼
2024 · 4.39
ROE
48.8%▼
2024 · 118.7%
ROA
37.6%▲
2024 · 22.0%
Interest coverage
54.25▲
2024 · 42.53
Debt ≤ 1 year
€44,169▼
2024 · €347,930
Debt > 1 year
€4,699▼
2024 · €23,049
Income taxes
€23,291▼
2024 · €29,224
Staff costs
€7,318▲
2024 · €4,372
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 31,372 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.5% went bankrupt
5.9% stopped otherwise
93% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,372 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet Code20242025
Assets
Total assets20/58€457,183€215,263▼
Fixed assets21/28€190,049€163,197▼
Tangible fixed assets22/27€190,049€163,197▼
Land and buildings22€119,712€112,033▼
Plant, machinery and equipment23€4,212€3,198▼
Furniture and vehicles24€61,648€43,488▼
Other tangible fixed assets26€4,477€4,477=
Current assets29/58€267,134€52,067▼
Amounts receivable within one year40/41€43,371€32,920▼
Trade receivables40€23,692€14,034▼
Other amounts receivable41€19,680€18,886▼
Current investments50/53€200,000-
Cash at bank and in hand54/58€19,504€12,553▼
Deferred charges and accrued income490/1€4,259€6,594▲
Equity and liabilities
Total equity and liabilities10/49€457,183€215,263▼
Equity10/15€84,760€165,663▲
Contributions10/11€62,485€62,485=
Reserves13€22,275€103,000▲
Tax-exempt reserves132€22,153€22,153=
Distributable reserves133€121€80,847▲
Profit (loss) carried forward14-€178
Amounts payable17/49€372,424€49,600▼
Amounts payable after more than one year17€23,049€4,699▼
Financial debts170/4€23,049€4,699▼
Amounts payable within one year42/48€347,930€44,169▼
Current portion of amounts payable after more than one year42€17,654€18,349▲
Financial debts43€8,334€6,667▼
Credit institutions430/8€8,334€6,667▼
Trade debts44€6,737€13,964▲
Suppliers440/4€6,737€13,964▲
Taxes, remuneration and social security45€4,275€4,999▲
Taxes450/3€3,037€1,565▼
Remuneration and social security454/9€1,237€3,434▲
Other amounts payable47/48€310,930€191▼
Accrued charges and deferred income492/3€1,445€731▼
Income statement Code20242025
Non-recurring operating income76A€8,793-
Remuneration, social security and pensions62€4,372€7,318▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36,810€34,214▼
Other operating charges640/8€9,879€2,876▼
Non-recurring operating charges66A€1,030-
Gross operating margin9900€181,838€146,426▼
Operating profit (loss)9901€129,748€102,018▼
Financial income75/76B€3,984€4,688▲
Recurring financial income75€3,984€4,688▲
Financial charges65/66B€3,916€2,511▼
Recurring financial charges65€3,916€2,511▼
Profit (loss) for the period before taxes9903€129,816€104,195▼
Income taxes67/77€29,224€23,291▼
Profit (loss) for the period9904€100,592€80,904▼
Profit (loss) for the period to be appropriated9905€100,592€80,904▼
Appropriation of the result
Profit (loss) to be appropriated9906€101,075€80,904▼
Profit (loss) brought forward from the previous period14P€483-
Transfer from equity791/2€209,725-
Transfer to equity691/2-€80,725
To other reserves6921-€80,725
Profit to be distributed694/7€310,800-
Return on contributions (dividend)694€310,800-

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2019202020212022202320242025Change
Non-recurring operating income76A---€77,298-€8,793--
Remuneration, social security and pensions62---€12,654€9,337€4,372€7,318▲ 67.4%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€59,964€77,101€37,029€31,794€34,490€36,810€34,214▼ 7.1%
Other operating charges640/8---€4,153€2,565€9,879€2,876▼ 70.9%
Non-recurring operating charges66A---€45-€1,030--
Gross operating margin9900€146,454€85,972€159,152€254,788€111,870€181,838€146,426▼ 19.5%
Operating profit (loss)9901€82,912€6,375€115,344€206,142€65,477€129,748€102,018▼ 21.4%
Financial income75/76B---€3,400€10€3,984€4,688▲ 17.7%
Recurring financial income75€8,019€6,871€6,692€3,400€10€3,984€4,688▲ 17.7%
Financial charges65/66B---€2,803€5,031€3,916€2,511▼ 35.9%
Recurring financial charges65€2,322€1,586€2,686€2,803€5,031€3,916€2,511▼ 35.9%
Profit (loss) for the period before taxes9903€88,609€11,659€119,350€206,739€60,456€129,816€104,195▼ 19.7%
Income taxes67/77€12,718€362€22,183€51,786€14,047€29,224€23,291▼ 20.3%
Profit (loss) for the period9904€75,891€11,297€97,168€154,954€46,408€100,592€80,904▼ 19.6%
Profit (loss) for the period to be appropriated9905€75,891€11,297€97,168€154,954€46,408€100,592€80,904▼ 19.6%
Line2019202020212022202320242025Change
Assets
Total assets20/58€783,781€889,084€981,367€309,893€390,799€457,183€215,263▼ 52.9%
Fixed assets21/28€215,762€409,596€393,977€165,354€220,173€190,049€163,197▼ 14.1%
Tangible fixed assets22/27€215,762€409,596€393,977€165,354€220,173€190,049€163,197▼ 14.1%
Land and buildings22---€143,166€130,806€119,712€112,033▼ 6.4%
Plant, machinery and equipment23---€4,885€3,118€4,212€3,198▼ 24.1%
Furniture and vehicles24---€12,235€81,576€61,648€43,488▼ 29.5%
Other tangible fixed assets26---€5,068€4,673€4,477€4,477=
Current assets29/58€568,018€479,487€587,391€144,540€170,626€267,134€52,067▼ 80.5%
Amounts receivable within one year40/41€17,604€28,207€8,308€21,006€13,810€43,371€32,920▼ 24.1%
Trade receivables40---€6,467€1,841€23,692€14,034▼ 40.8%
Other amounts receivable41---€14,538€11,969€19,680€18,886▼ 4.0%
Current investments50/53----€100,000€200,000--
Cash at bank and in hand54/58€126,226€29,484€157,642€113,960€49,277€19,504€12,553▼ 35.6%
Deferred charges and accrued income490/1---€9,574€7,539€4,259€6,594▲ 54.8%
Equity and liabilities
Total equity and liabilities10/49€783,781€889,084€981,367€309,893€390,799€457,183€215,263▼ 52.9%
Equity10/15€758,441€769,739€93,606€248,560€294,968€84,760€165,663▲ 95.5%
Contributions10/11€62,485--€62,485€62,485€62,485€62,485=
Reserves13€695,000€707,000€31,121€186,000€232,000€22,275€103,000▲ 362%
Tax-exempt reserves132---€22,153€22,153€22,153€22,153=
Distributable reserves133---€163,847€209,847€121€80,847▲ 66,495%
Profit (loss) carried forward14€956€254€956€75€483-€178-
Amounts payable17/49€25,339€119,345€887,761€61,333€95,831€372,424€49,600▼ 86.7%
Amounts payable after more than one year17€2,605---€40,702€23,049€4,699▼ 79.6%
Financial debts170/4----€40,702€23,049€4,699▼ 79.6%
Amounts payable within one year42/48€19,262€115,634€881,814€58,983€52,539€347,930€44,169▼ 87.3%
Current portion of amounts payable after more than one year42----€16,984€17,654€18,349▲ 3.9%
Financial debts43---€20,882€8,333€8,334€6,667▼ 20.0%
Credit institutions430/8---€20,882€8,333€8,334€6,667▼ 20.0%
Trade debts44€7,345€3,465€8,124€5,465€1,141€6,737€13,964▲ 107%
Suppliers440/4---€5,465€1,141€6,737€13,964▲ 107%
Taxes, remuneration and social security45---€3,296€3,409€4,275€4,999▲ 16.9%
Taxes450/3---€1,565€1,565€3,037€1,565▼ 48.5%
Remuneration and social security454/9---€1,731€1,844€1,237€3,434▲ 177%
Other amounts payable47/48---€29,340€22,671€310,930€191▼ 99.9%
Accrued charges and deferred income492/3---€2,350€2,590€1,445€731▼ 49.4%
Line2019202020212022202320242025Change
Profit (loss) for the period9904€75,891€11,297€97,168€154,954€46,408€100,592€80,904▼ 19.6%
+ Depreciation and write-downs630€59,964€77,101€37,029€31,794€34,490€36,810€34,214▼ 7.1%
Operating cash flow (approximation)€135,855€88,399€134,197€186,748€80,899€137,402€115,118▼ 16.2%
Investment in fixed assets (approximation)--€270,935-€21,409€196,829-€89,310-€6,686-€7,361▼ 10.1%
Change in cash--€96,742€128,158-€43,682-€64,683-€29,773-€6,951▲ 76.7%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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