L PROJECTS & TECHNICS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 45 days after the deadline Filed on 14 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00518577.
Annual accounts 2025 filed on 14-09-2026 at the NBB all 9 filings
Turnover
≈ €110,000
Estimated: probably between €44,000 and €200,000
Total assets
€67,212▼ 29.8%
2024 · €95,707
Net result
€2,887▼ 37.9%
2024 · €4,650
Working capital
€844▼ 97.8%
2024 · €38,650
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€7,755
▼ 34.0%
2025
20182025
Net result
€2,887
▼ 37.9%
2025
middle half of the sector
20182025
Equity
€6,812
▼ 85.4%
2025
lowest quarter of the sector
20182025
Total assets
€67,212
▼ 29.8%
2025
lowest quarter of the sector
20182025
Debt
€60,399
▲ 23.3%
2025
20182025
Working capital
€844
▼ 97.8%
2025
middle half of the sector
20182025
Solvency
10.1%
▼ 38.7pp
2025
lowest quarter of the sector
20182025
Current ratio
1.01
▼ 0.79
2025
middle half of the sector
20182025
Return on assets (ROA)
4.3%
▼ 0.6pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€20,676-€23,935▲ 15.8%-€20,155-€470▲ 97.7%€15,915€15,481▼ 2.7%€11,748▼ 24.1%€7,755▼ 34.0%
Net result€15,602-€20,077▲ 28.7%-€22,644below the sector's middle half-€2,473below the sector's middle half▲ 89.1%€13,343within the sector's middle half€8,881within the sector's middle half▼ 33.4%€4,650within the sector's middle half▼ 47.6%€2,887within the sector's middle half▼ 37.9%
Equity€32,089-€52,166▲ 62.6%€29,523within the sector's middle half▼ 43.4%€27,050within the sector's middle half▼ 8.4%€40,393within the sector's middle half▲ 49.3%€42,074within the sector's middle half▲ 4.2%€46,725within the sector's middle half▲ 11.1%€6,812below the sector's middle half▼ 85.4%
Total assets€61,819-€94,133▲ 52.3%€66,441below the sector's middle half▼ 29.4%€61,140below the sector's middle half▼ 8.0%€87,427below the sector's middle half▲ 43.0%€87,156within the sector's middle half▼ 0.3%€95,707within the sector's middle half▲ 9.8%€67,212below the sector's middle half▼ 29.8%
Debt€29,730-€41,966▲ 41.2%€36,918▼ 12.0%€34,090▼ 7.7%€47,034▲ 38.0%€45,082▼ 4.2%€48,983▲ 8.7%€60,399▲ 23.3%
Working capital€23,972-€34,985▲ 45.9%€14,701within the sector's middle half▼ 58.0%€15,602within the sector's middle half▲ 6.1%€32,406within the sector's middle half▲ 108%€31,843within the sector's middle half▼ 1.7%€38,650within the sector's middle half▲ 21.4%€844within the sector's middle half▼ 97.8%
Solvency51.9%-55.4%▲ 3.5pp44.4%within the sector's middle half▼ 11.0pp44.2%within the sector's middle half▼ 0.2pp46.2%within the sector's middle half▲ 2.0pp48.3%within the sector's middle half▲ 2.1pp48.8%within the sector's middle half▲ 0.5pp10.1%below the sector's middle half▼ 38.7pp
Current ratio1.81-1.83▲ 0.031.40within the sector's middle half▼ 0.431.46within the sector's middle half▲ 0.061.73within the sector's middle half▲ 0.271.72within the sector's middle half▼ 0.011.80within the sector's middle half▲ 0.081.01within the sector's middle half▼ 0.79
Return on assets (ROA)25.2%-21.3%▼ 3.9pp-34.1%below the sector's middle half▼ 55.4pp-4.0%below the sector's middle half▲ 30.0pp15.3%above the sector's middle half▲ 19.3pp10.2%within the sector's middle half▼ 5.1pp4.9%within the sector's middle half▼ 5.3pp4.3%within the sector's middle half▼ 0.6pp
Staff (FTE)1.10.4below the sector's middle half▼ 63.6%
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). 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 34% lower than in 2024. It is the third fall in a row.
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 €67,212
Fixed assets
€6,123 ▼ 32.2%
Current assets
€61,089 ▼ 29.5%
Equity and liabilities €67,212
Equity
€6,812 ▼ 85.4%
Debt
€60,399 ▲ 23.3%
Debt's share of the balance-sheet total rises from 51.2% to 89.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,392▼
2024 · €14,575
Cash flow
€3,523▼
2024 · €7,478
Debt to equity
8.87▲
2024 · 1.05
ROE
42.4%▲
2024 · 10.0%
Interest coverage
2.68▼
2024 · 2.99
Debt ≤ 1 year
€60,244▲
2024 · €48,033
Income taxes
€2,017▼
2024 · €3,249
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Joined | 0 |
| Left | 4 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,485 | €13,256 | €895 | €584 | €4,309 |
| Financial fixed assets | €780 | - | €2,190 | - | - |
| Depreciation and write-downs of the year | €6,286 | €6,404 | €2,578 | €2,827 | €637 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €11,310 | - | - | €651 | - |
| Remuneration, social security and pensions62 | - | - | - | -€146 | €203 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,369 | €9,519 | €6,940 | €6,286 | €6,404 | €2,578 | €2,827 | €637 | ▼ 77.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €3,965 | -€3,965 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €2,545 | €14,444 | €675 | €1,564 | €2,088 | ▲ 33.5% |
| Non-recurring operating charges66A | - | - | - | €523 | €342 | - | - | €4,976 | - |
| Gross operating margin9900 | €40,937 | €82,295 | €1,827 | €12,703 | €33,343 | €18,734 | €16,139 | €15,456 | ▼ 4.2% |
| Operating profit (loss)9901 | €20,676 | €23,935 | -€20,155 | -€470 | €15,915 | €15,481 | €11,748 | €7,755 | ▼ 34.0% |
| Financial income75/76B | - | - | - | €0 | €295 | €303 | €1,028 | €284 | ▼ 72.4% |
| Recurring financial income75 | €18 | - | €1,106 | €0 | €295 | €303 | €1,028 | €284 | ▼ 72.4% |
| Financial charges65/66B | - | - | - | €966 | €2,120 | €3,875 | €4,876 | €3,135 | ▼ 35.7% |
| Recurring financial charges65 | €5,092 | €2,965 | €3,443 | €966 | €2,120 | €3,875 | €4,876 | €3,135 | ▼ 35.7% |
| Profit (loss) for the period before taxes9903 | €15,602 | €20,970 | -€22,492 | -€1,436 | €14,089 | €11,909 | €7,899 | €4,904 | ▼ 37.9% |
| Income taxes67/77 | - | €892 | €151 | €1,037 | €747 | €3,028 | €3,249 | €2,017 | ▼ 37.9% |
| Profit (loss) for the period9904 | €15,602 | €20,077 | -€22,644 | -€2,473 | €13,343 | €8,881 | €4,650 | €2,887 | ▼ 37.9% |
| Profit (loss) for the period to be appropriated9905 | €15,602 | €20,077 | -€22,644 | -€2,473 | €13,343 | €8,881 | €4,650 | €2,887 | ▼ 37.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €61,819 | €94,133 | €66,441 | €61,140 | €87,427 | €87,156 | €95,707 | €67,212 | ▼ 29.8% |
| Fixed assets21/28 | €8,117 | €17,231 | €15,172 | €11,448 | €10,760 | €11,267 | €9,024 | €6,123 | ▼ 32.2% |
| Tangible fixed assets22/27 | €7,937 | €16,276 | €13,592 | €9,268 | €8,580 | €6,897 | €4,654 | €2,253 | ▼ 51.6% |
| Plant, machinery and equipment23 | - | - | - | €1,308 | €924 | €663 | €967 | - | - |
| Furniture and vehicles24 | - | - | - | €7,960 | €7,656 | €6,234 | €3,687 | €2,253 | ▼ 38.9% |
| Financial fixed assets28 | €180 | €955 | €1,580 | €2,180 | €2,180 | €4,370 | €4,370 | €3,870 | ▼ 11.4% |
| Current assets29/58 | €53,702 | €76,901 | €51,269 | €49,692 | €76,667 | €75,889 | €86,683 | €61,089 | ▼ 29.5% |
| Amounts receivable after more than one year29 | - | - | - | €10,000 | €6,000 | €6,170 | €6,170 | €6,170 | = |
| Trade receivables290 | - | - | - | €10,000 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | - | €6,000 | €6,170 | €6,170 | €6,170 | = |
| Stocks and contracts in progress3 | - | - | - | €2,510 | €3,750 | - | - | - | - |
| Stocks30/36 | - | - | - | €2,510 | €3,750 | - | - | - | - |
| Amounts receivable within one year40/41 | €41,912 | €41,083 | €23,462 | €27,857 | €45,615 | €50,796 | €69,781 | €50,006 | ▼ 28.3% |
| Trade receivables40 | - | - | - | €26,822 | €36,832 | €37,261 | €32,817 | €35,531 | ▲ 8.3% |
| Other amounts receivable41 | - | - | - | €1,035 | €8,783 | €13,535 | €36,964 | €14,475 | ▼ 60.8% |
| Cash at bank and in hand54/58 | €10,476 | €17,183 | €15,179 | €5,559 | €751 | €5,859 | €795 | €1,749 | ▲ 120% |
| Deferred charges and accrued income490/1 | - | - | - | €3,766 | €20,551 | €13,064 | €9,938 | €3,165 | ▼ 68.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €61,819 | €94,133 | €66,441 | €61,140 | €87,427 | €87,156 | €95,707 | €67,212 | ▼ 29.8% |
| Equity10/15 | €32,089 | €52,166 | €29,523 | €27,050 | €40,393 | €42,074 | €46,725 | €6,812 | ▼ 85.4% |
| Contributions10/11 | €50,000 | €50,000 | - | €50,000 | €50,000 | €42,800 | €42,800 | €1 | ▼ 100.0% |
| Reserves13 | - | €2,166 | €2,166 | €2,166 | €2,166 | €2,166 | €3,925 | €6,811 | ▲ 73.5% |
| Distributable reserves133 | - | - | - | €2,166 | €2,166 | €2,166 | €3,925 | €6,811 | ▲ 73.5% |
| Profit (loss) carried forward14 | -€17,911 | - | -€22,644 | -€25,116 | -€11,773 | -€2,892 | - | - | - |
| Amounts payable17/49 | €29,730 | €41,966 | €36,918 | €34,090 | €47,034 | €45,082 | €48,983 | €60,399 | ▲ 23.3% |
| Amounts payable within one year42/48 | €29,730 | €41,916 | €36,568 | €34,090 | €44,261 | €44,046 | €48,033 | €60,244 | ▲ 25.4% |
| Financial debts43 | - | - | - | - | €10,234 | €9,935 | €9,768 | €9,944 | ▲ 1.8% |
| Credit institutions430/8 | - | - | - | - | €10,234 | €9,935 | €9,768 | €9,944 | ▲ 1.8% |
| Trade debts44 | €23,824 | €15,623 | €12,686 | €17,770 | €30,201 | €22,135 | €22,740 | €26,990 | ▲ 18.7% |
| Suppliers440/4 | - | - | - | €17,770 | €30,201 | €22,135 | €22,740 | €26,990 | ▲ 18.7% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €1,172 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €7,272 | €1,533 | €7,639 | €12,243 | €5,855 | ▼ 52.2% |
| Taxes450/3 | - | - | - | €5,467 | €1,533 | €7,639 | €12,243 | €5,855 | ▼ 52.2% |
| Remuneration and social security454/9 | - | - | - | €1,805 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €9,048 | €2,293 | €4,336 | €2,110 | €17,455 | ▲ 727% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,773 | €1,036 | €949 | €155 | ▼ 83.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,602 | €20,077 | -€22,644 | -€2,473 | €13,343 | €8,881 | €4,650 | €2,887 | ▼ 37.9% |
| + Depreciation and write-downs630 | €2,369 | €9,519 | €6,940 | €6,286 | €6,404 | €2,578 | €2,827 | €637 | ▼ 77.5% |
| Operating cash flow (approximation) | €17,971 | €29,596 | -€15,703 | €3,813 | €19,747 | €11,459 | €7,478 | €3,523 | ▼ 52.9% |
| Investment in fixed assets (approximation) | - | -€18,633 | -€4,881 | -€2,562 | -€5,716 | -€3,085 | -€584 | €2,265 | - |
| Change in cash | - | €6,707 | -€2,004 | -€9,620 | -€4,808 | €5,108 | -€5,065 | €954 | - |
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, 4,508 companies had the same profile as L PROJECTS & TECHNICS has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.6%
stopped otherwise
1.4%
went bankrupt
The bankruptcy probability of L PROJECTS & TECHNICS itself is higher: 1.9% within 12 months. It rests on far more data about L PROJECTS & TECHNICS than the profile alone.
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 4,508 companies, not a prediction for L PROJECTS & TECHNICS. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-09-2026 | 2026-00518577 | |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00384245 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00412081 | |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00465351 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20378493 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64000293 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-50500297 | |
| 31-12-2018 | micro format | 16-09-2019 | 2019-64500276 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-59400070 |