LAGO
ActiveSummary
LAGO has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €320,513 and a net result of -€68,040. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▲+4
Solvency45▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.06 against 0.09 in 2024; short-term debt: 72.5% and cash: 4.1% of total assets), and 80.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€68,040
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
14 d late
2023
54 d late
2022
20 d early
2021
20 d early
2020
10 d late
2019
45 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 7 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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. Usually files around 11 July (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€320,513▼ 17.5%
2024 · €388,553
Total assets
€1.6m▼ 4.0%
2024 · €1.7m
Net result
-€68,040▲ 42.8%
2024 · -€118,866
Working capital
-€1.1m▼ 4.2%
2024 · -€1.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€46,191▼ 134%-€47,169▼ 2.1%€562,793-€121,056-€69,827▲ 42.3%
Net result-€44,562▼ 145%-€45,746▼ 2.7%€564,590-€118,866-€68,040▲ 42.8%
Equity-€11,425-€57,171▼ 400%€507,419€388,553▼ 23.4%€320,513▼ 17.5%
Total assets€1.8m▼ 3.3%€1.7m▼ 3.4%€1.6m▼ 10.6%€1.7m▲ 9.1%€1.6m▼ 4.0%
Debt€1.7m▼ 0.9%€1.7m▼ 0.9%€918,576▼ 44.9%€1.2m▲ 28.6%€1.2m▲ 0.2%
Working capital-€1.5m▼ 1.2%-€1.5m▼ 2.6%-€780,408▲ 48.1%-€1.1m▼ 37.4%-€1.1m▼ 4.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €69,827 in 2025 against €121,056 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.6m ▼ 1.5%
Current assets
€66,390 ▼ 39.3%
Equity and liabilities €1.6m
Equity
€320,513 ▼ 17.5%
Provisions
€128,710 ▼ 1.3%
Debt
€1.2m ▲ 0.2%
Debt's share of the balance-sheet total rises from 69.5% to 72.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€45,513▲
2024 · -€92,259
Cash flow
-€43,726▲
2024 · -€90,069
Current ratio
0.06▼
2024 · 0.09
Debt to equity
3.69▲
2024 · 3.04
ROE
-21.2%▲
2024 · -30.6%
ROA
-4.2%▲
2024 · -7.0%
Interest coverage
-104.66▲
2024 · -310.83
Debt ≤ 1 year
€1.2m▲
2024 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.9% |
| 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 2,507 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | €598,039 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,059 | €31,714 | €29,171 | €28,797 | €24,314 | ▼ 15.6% |
| Other operating charges640/8 | €4,988 | €5,085 | €4,864 | €7,541 | €4,719 | ▼ 37.4% |
| Gross operating margin9900 | -€10,144 | -€10,369 | €596,828 | -€84,717 | -€40,794 | ▲ 51.8% |
| Operating profit (loss)9901 | -€46,191 | -€47,169 | €562,793 | -€121,056 | -€69,827 | ▲ 42.3% |
| Financial income75/76B | €179 | €0 | €383 | €793 | €529 | ▼ 33.3% |
| Recurring financial income75 | €179 | €0 | €383 | €793 | €529 | ▼ 33.3% |
| Financial charges65/66B | €244 | €271 | €279 | €297 | €435 | ▲ 46.5% |
| Recurring financial charges65 | €244 | €271 | €279 | €297 | €435 | ▲ 46.5% |
| Profit (loss) for the period before taxes9903 | -€46,255 | -€47,440 | €562,896 | -€120,560 | -€69,733 | ▲ 42.2% |
| Transfer from deferred taxes780 | €1,694 | €1,694 | €1,694 | €1,694 | €1,694 | = |
| Profit (loss) for the period9904 | -€44,562 | -€45,746 | €564,590 | -€118,866 | -€68,040 | ▲ 42.8% |
| Transfer from tax-exempt reserves789 | €3,289 | €3,289 | €3,289 | €3,289 | €3,289 | = |
| Profit (loss) for the period to be appropriated9905 | -€41,273 | -€42,457 | €567,879 | -€115,577 | -€64,751 | ▲ 44.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €1.7m | €1.6m | €1.7m | €1.6m | ▼ 4.0% |
| Fixed assets21/28 | €1.6m | €1.6m | €1.4m | €1.6m | €1.6m | ▼ 1.5% |
| Tangible fixed assets22/27 | €1.6m | €1.6m | €1.4m | €1.6m | €1.6m | ▼ 1.5% |
| Land and buildings22 | €1.6m | €1.6m | €1.4m | €1.6m | €1.6m | ▼ 1.3% |
| Plant, machinery and equipment23 | €35,312 | €26,461 | €21,540 | €16,992 | €12,445 | ▼ 26.8% |
| Current assets29/58 | €214,376 | €161,803 | €138,168 | €109,361 | €66,390 | ▼ 39.3% |
| Amounts receivable within one year40/41 | €27 | €0 | €115 | €353 | €159 | ▼ 55.0% |
| Other amounts receivable41 | €27 | €0 | €115 | €353 | €159 | ▼ 55.0% |
| Cash at bank and in hand54/58 | €205,852 | €153,097 | €130,554 | €101,482 | €66,231 | ▼ 34.7% |
| Deferred charges and accrued income490/1 | €8,496 | €8,705 | €7,500 | €7,526 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €1.7m | €1.6m | €1.7m | €1.6m | ▼ 4.0% |
| Equity10/15 | -€11,425 | -€57,171 | €507,419 | €388,553 | €320,513 | ▼ 17.5% |
| Contributions10/11 | €396,630 | €396,630 | €396,630 | €396,630 | €396,630 | = |
| Capital10 | €396,630 | €396,630 | €396,630 | €396,630 | €396,630 | = |
| Issued capital100 | €396,630 | €396,630 | €396,630 | €396,630 | €396,630 | = |
| Reserves13 | €272,505 | €269,216 | €265,927 | €262,638 | €259,350 | ▼ 1.3% |
| Tax-exempt reserves132 | €263,116 | €259,827 | €256,538 | €253,249 | €249,960 | ▼ 1.3% |
| Distributable reserves133 | €9,389 | €9,389 | €9,389 | €9,389 | €9,389 | = |
| Profit (loss) carried forward14 | -€680,560 | -€723,017 | -€155,138 | -€270,716 | -€335,466 | ▼ 23.9% |
| Provisions and deferred taxes16 | €135,484 | €133,791 | €132,097 | €130,403 | €128,710 | ▼ 1.3% |
| Deferred taxes168 | €135,484 | €133,791 | €132,097 | €130,403 | €128,710 | ▼ 1.3% |
| Amounts payable17/49 | €1.7m | €1.7m | €918,576 | €1.2m | €1.2m | ▲ 0.2% |
| Amounts payable within one year42/48 | €1.7m | €1.7m | €918,576 | €1.2m | €1.2m | ▲ 0.2% |
| Trade debts44 | - | €742 | €0 | €1,043 | €1,314 | ▲ 26.0% |
| Suppliers440/4 | - | €742 | €0 | €1,043 | €1,314 | ▲ 26.0% |
| Other amounts payable47/48 | €1.7m | €1.7m | €918,576 | €1.2m | €1.2m | ▲ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€44,562 | -€45,746 | €564,590 | -€118,866 | -€68,040 | ▲ 42.8% |
| + Depreciation and write-downs630 | €31,059 | €31,714 | €29,171 | €28,797 | €24,314 | ▼ 15.6% |
| Operating cash flow (approximation) | -€13,503 | -€14,032 | €593,761 | -€90,069 | -€43,726 | ▲ 51.5% |
| Investment in fixed assets (approximation) | - | -€22,274 | €131,961 | -€200,157 | €0 | ▲ 100% |
| Change in cash | - | -€52,755 | -€22,544 | -€29,071 | -€35,251 | ▼ 21.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
31-12
Financial
Weakest financial yearnet -€118,866
Net result drops to -€118,866, the lowest in the series; recovery starts the following year.
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 54 days late
2023
31-12
Financial
Back to profitnet €564,590
Net result €564,590 after 5 loss-making years.
31-12
Financial
Equity above €500,000Eq €507,419
Equity rises from -€57,171 to €507,419.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 1988
Ground area
3.8 ha
Building footprint
345 m²
Volume, LiDAR
1,832 m³
Parcel 12409B0025/00B000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LAGO NV
since 19882.039.872.782
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12409B0025/00B000 | Flanders | 3.8 ha | 1 · 345 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded15-07-1988
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434944832
Also
9925:BE0434944832
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.