L SPHERE MANAGEMENT
ActiveSummary
L SPHERE MANAGEMENT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €228k and a net result of €-36k. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 68% of 14079 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability8▼-67
Solvency79▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.57 against 1.6 in 2024; short-term debt: 46.5% and cash: 0.4% of total assets), and 46.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
on the day
2023
30 d late
2022
70 d early
2021
24 d early
2020
46 d early
2019
72 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-36k
2024 · €34k
2018: €-54k
2019: €-61k
2020: €-20k
2021: €-20k
2022: €67k
2023: €39k
2024: €34k
2018 → 2025
Working capital
€112k▼ 23.4%
2024 · €147k
2018: €181k
2019: €119k
2020: €99k
2021: €73k
2022: €8k
2023: €144k
2024: €147k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€119k-€186k▲ 56.2%€230k▲ 23.8%€264k▲ 14.7%€228k▼ 13.7%
Operating result€-20k-€67k€31k▼ 54.1%€57k▲ 85.2%€-34k
Net result€-20k-€67k€39k▼ 41.0%€34k▼ 14.4%€-36k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €34k after €57k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €426k
Fixed assets
€116k ▼ 1.5%
Current assets
€310k ▼ 20.2%
Equity and liabilities €426k
Equity
€228k ▼ 13.7%
Debt
€198k ▼ 18.3%
Debt's share of the balance-sheet total falls from 47.9% to 46.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-32k▼
2024 · €60k
Cash flow
€-34k▼
2024 · €37k
Current ratio
1.57▼
2024 · 1.60
Debt to equity
0.87▼
2024 · 0.92
ROE
-15.9%▼
2024 · 12.8%
ROA
-8.5%▼
2024 · 6.7%
Interest coverage
-19.48▼
2024 · 5.80
Debt ≤ 1 year
€198k▼
2024 · €242k
Income taxes
€323▼
2024 · €13k
Staff costs
€538▼
2024 · €20k
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 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€506k€426k▼
Fixed assets21/28€118k€116k▼
Tangible fixed assets22/27€3k€719▼
Furniture and vehicles24€3k€719▼
Financial fixed assets28€115k€115k=
Current assets29/58€389k€310k▼
Amounts receivable within one year40/41€388k€308k▼
Trade receivables40€199k€124k▼
Other amounts receivable41€188k€184k▼
Cash at bank and in hand54/58€891€2k▲
Equity and liabilities
Total equity and liabilities10/49€506k€426k▼
Equity10/15€264k€228k▼
Contributions10/11€180k€180k=
Reserves13€5k€5k=
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Profit (loss) carried forward14€79k€43k▼
Amounts payable17/49€242k€198k▼
Amounts payable within one year42/48€242k€198k▼
Trade debts44€45k€35k▼
Suppliers440/4€45k€35k▼
Taxes, remuneration and social security45€47k€21k▼
Taxes450/3€47k€21k▼
Other amounts payable47/48€150k€142k▼
Income statement
Code20242025
Remuneration, social security and pensions62€20k€538▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€23k€599▼
Non-recurring operating charges66A-€749
Gross operating margin9900€103k€-30k▼
Operating profit (loss)9901€57k€-34k▼
Financial charges65/66B€10k€2k▼
Recurring financial charges65€10k€2k▼
Profit (loss) for the period before taxes9903€47k€-36k▼
Income taxes67/77€13k€323▼
Profit (loss) for the period9904€34k€-36k▼
Profit (loss) for the period to be appropriated9905€34k€-36k▼
Appropriation of the result
Profit (loss) to be appropriated9906€79k€43k▼
Profit (loss) brought forward from the previous period14P€46k€79k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
28-07
State Gazette act
Capital & shares · RestructuringMerger · Accounting effect · Power of attorney5 facts ▸
State Gazette act
Capital & shares · Restructuring
Merger · Accounting effect · Power of attorney5 facts ▸
- General meeting, 29/06/2026
- Merger
- Accounting effect, 01/01/2026
- Power of attorney, SAINT-REMY Gérald
- Power of attorney, Berquin Notaires
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Equity above €200kEq €230k ▲23.8%
2 profitable years in a row build equity to €230k.
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €67k
Net result €67k after 4 loss-making years.
31-12
Financial
Equity above €150kEq €186k ▲56.2%
Equity rises from €119k to €186k.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
21-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 174 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-61k
Net result drops to €-61k, the lowest in the series; recovery starts the following year.
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2014
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Louizalaan 541050 ElseneGround area
1,625 m²
Building footprint
1,286 m²
Volume, LiDAR
34,999 m³
Parcel 21807G0001/00L000, Brussels · tallest building 33.9 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 54, 1050 Brussel
since 20142.237.612.034
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0001/00L000 | Brussels | 1,625 m² | 1 · 1,286 m² | 33.9 m · 9 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Acquisitions and mergers
1 transactionTook over:L Sphere Invest
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Of 9,694 companies in sector 68121 we hold annual accounts for 7,383. 5,286 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-09-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.