LAKER
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 32 days after the deadline Filed on 1 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00489798.
Annual accounts 2025 filed on 01-09-2026 at the NBB all 38 filings
Turnover
≈ €1.9m
Estimated: probably between €1.4m and €2.4m
EBIT margin
Not included in this filing
Net result
-€57,205
2024 · €36,550
Working capital
€1.1m▼ 4.5%
2024 · €1.2m
In the rankings
#10 oldest company in Mons, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€247
▼ 99.7%
2025
20182025
Net result
-€57,205
2025
lowest quarter of the sector
20182025
Equity
€943,255
▼ 5.7%
2025
middle half of the sector
20182025
Total assets
€1.4m
▼ 25.0%
2025
middle half of the sector
20182025
Debt
€438,411
▼ 48.0%
2025
20182025
Working capital
€1.1m
▼ 4.5%
2025
highest quarter of the sector
20182025
Solvency
68.3%
▲ 14.0pp
2025
highest quarter of the sector
20182025
Current ratio
6.95
▲ 3.97
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-4.1%
▼ 6.1pp
2025
lowest quarter 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€0.08m-€0.07m▼ 17.8%€0.06m▼ 6.5%€0.07m▲ 19.5%€0.1m▲ 47.8%€0.09m▼ 15.2%€0.08m▼ 14.6%€247▼ 99.7%
Net result€0.04m-€0.03m▼ 28.0%€0.02mwithin the sector's middle half▼ 28.2%€0.04mwithin the sector's middle half▲ 75.2%€0.08mwithin the sector's middle half▲ 116%€0.04mwithin the sector's middle half▼ 46.3%€0.04mwithin the sector's middle half▼ 15.8%-€0.06mbelow the sector's middle half
Equity€0.8m-€0.8m▲ 4.0%€0.8mabove the sector's middle half▲ 2.7%€0.8mabove the sector's middle half▲ 4.7%€0.9mabove the sector's middle half▲ 9.6%€1.0mabove the sector's middle half▲ 4.7%€1.0mabove the sector's middle half▲ 3.7%€0.9mwithin the sector's middle half▼ 5.7%
Total assets€1.5m-€1.4m▼ 1.9%€1.8mabove the sector's middle half▲ 25.1%€1.8mabove the sector's middle half=€1.8mabove the sector's middle half▲ 0.2%€1.6mwithin the sector's middle half▼ 9.8%€1.8mwithin the sector's middle half▲ 12.8%€1.4mwithin the sector's middle half▼ 25.0%
Debt€0.7m-€0.7m▼ 8.1%€1.0m▲ 47.2%€1.0m▼ 1.0%€0.9m▼ 8.1%€0.7m▼ 24.8%€0.8m▲ 25.9%€0.4m▼ 48.0%
Working capital€0.7m-€0.7m▲ 6.1%€0.7mabove the sector's middle half▲ 3.5%€0.7mabove the sector's middle half▲ 3.2%€0.8mabove the sector's middle half▲ 10.8%€0.9mabove the sector's middle half▲ 5.0%€1.2mabove the sector's middle half▲ 34.8%€1.1mabove the sector's middle half▼ 4.5%
Solvency51.0%-54.1%▲ 3.1pp44.4%within the sector's middle half▼ 9.7pp46.5%within the sector's middle half▲ 2.1pp50.9%within the sector's middle half▲ 4.4pp59.0%within the sector's middle half▲ 8.2pp54.3%within the sector's middle half▼ 4.8pp68.3%above the sector's middle half▲ 14.0pp
Current ratio1.93-2.06▲ 0.131.74within the sector's middle half▼ 0.311.77within the sector's middle half▲ 0.031.93within the sector's middle half▲ 0.162.30within the sector's middle half▲ 0.372.98above the sector's middle half▲ 0.686.95above the sector's middle half▲ 3.97
Return on assets (ROA)2.8%-2.1%▼ 0.7pp1.2%within the sector's middle half▼ 0.9pp2.1%within the sector's middle half▲ 0.9pp4.5%within the sector's middle half▲ 2.4pp2.7%within the sector's middle half▼ 1.8pp2.0%within the sector's middle half▼ 0.7pp-4.1%below the sector's middle half▼ 6.1pp
Staff (FTE)19.4-18.8▼ 3.1%18.7above the sector's middle half▼ 0.5%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 100% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€71,588 ▼ 5.5%
Current assets
€1.3m ▼ 25.9%
Equity and liabilities €1.4m
Equity
€943,255 ▼ 5.7%
Debt
€438,411 ▼ 48.0%
Debt's share of the balance-sheet total falls from 45.7% to 31.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5,621▼
2024 · €93,377
Cash flow
-€51,830▼
2024 · €51,424
Debt to equity
0.46▼
2024 · 0.84
ROE
-6.1%▼
2024 · 3.7%
Interest coverage
0.16▼
2024 · 3.45
Debt ≤ 1 year
€188,411▼
2024 · €592,705
Debt > 1 year
€250,000=
2024 · €250,000
Income taxes
€22,375▲
2024 · €15,000
Staff costs
€610,065▲
2024 · €429,079
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,807 | €11,360 | €7,999 | - |
| Financial fixed assets | €147 | €9,036 | €66 | - | - |
| Depreciation and write-downs of the year | €13,603 | €11,730 | €12,208 | €14,874 | €5,375 |
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 | - | - | - | €28,000 | - | - | €1,633 | €211,936 | ▲ 130× |
| Remuneration, social security and pensions62 | - | - | - | €455,029 | €386,374 | €372,825 | €429,079 | €610,065 | ▲ 42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,742 | €25,952 | €25,721 | €13,603 | €11,730 | €12,208 | €14,874 | €5,375 | ▼ 63.9% |
| Other operating charges640/8 | - | - | - | €33,465 | €36,291 | €33,637 | €33,197 | €36,236 | ▲ 9.2% |
| Non-recurring operating charges66A | - | - | - | €791 | €38,028 | €439 | - | - | - |
| Gross operating margin9900 | €563,802 | €518,952 | €494,640 | €576,217 | €580,785 | €511,011 | €555,653 | €651,922 | ▲ 17.3% |
| Operating profit (loss)9901 | €79,916 | €65,657 | €61,379 | €73,329 | €108,362 | €91,903 | €78,503 | €247 | ▼ 99.7% |
| Financial income75/76B | - | - | - | €53 | €85 | €121 | €102 | €84 | ▼ 17.4% |
| Recurring financial income75 | €20 | €112 | €47 | €53 | €85 | €121 | €102 | €84 | ▼ 17.4% |
| Financial charges65/66B | - | - | - | €16,294 | €16,197 | €29,111 | €27,055 | €35,162 | ▲ 30.0% |
| Recurring financial charges65 | €19,046 | €14,138 | €15,243 | €16,294 | €16,197 | €29,111 | €27,055 | €35,162 | ▲ 30.0% |
| Profit (loss) for the period before taxes9903 | €60,889 | €51,631 | €46,183 | €57,088 | €92,250 | €62,913 | €51,550 | -€34,830 | - |
| Income taxes67/77 | €19,506 | €21,853 | €24,799 | €19,612 | €11,381 | €19,493 | €15,000 | €22,375 | ▲ 49.2% |
| Profit (loss) for the period9904 | €41,383 | €29,779 | €21,384 | €37,476 | €80,869 | €43,420 | €36,550 | -€57,205 | - |
| Profit (loss) for the period to be appropriated9905 | €41,383 | €29,779 | €21,384 | €37,476 | €80,869 | €43,420 | €36,550 | -€57,205 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.5m | €1.4m | €1.8m | €1.8m | €1.8m | €1.6m | €1.8m | €1.4m | ▼ 25.0% |
| Fixed assets21/28 | €0.1m | €0.08m | €0.1m | €0.09m | €0.09m | €0.09m | €0.08m | €0.07m | ▼ 5.5% |
| Tangible fixed assets22/27 | €0.1m | €0.08m | €0.1m | €0.09m | €0.08m | €0.08m | €0.06m | €0.06m | ▼ 6.4% |
| Land and buildings22 | - | - | - | €0.09m | €0.08m | €0.07m | €0.06m | €0.06m | = |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.002m | €0.01m | €0.004m | - | - |
| Financial fixed assets28 | €0.003m | €0.002m | €0.002m | €0.002m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €1.4m | €1.4m | €1.7m | €1.7m | €1.7m | €1.5m | €1.8m | €1.3m | ▼ 25.9% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Stocks30/36 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | - | - |
| Contracts in progress37 | - | - | - | €0.03m | €0.03m | €0.1m | €0.1m | - | - |
| Amounts receivable within one year40/41 | €1.1m | €1.2m | €1.5m | €1.5m | €1.5m | €1.3m | €1.5m | €1.3m | ▼ 12.7% |
| Trade receivables40 | - | - | - | €0.7m | €0.8m | €0.8m | €0.6m | €0.4m | ▼ 32.8% |
| Other amounts receivable41 | - | - | - | €0.8m | €0.7m | €0.5m | €0.9m | €0.9m | ▼ 0.8% |
| Cash at bank and in hand54/58 | €0.1m | €0.05m | €0.08m | €0.06m | €0.06m | €0.01m | €0.05m | €0.02m | ▼ 70.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €360 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.5m | €1.4m | €1.8m | €1.8m | €1.8m | €1.6m | €1.8m | €1.4m | ▼ 25.0% |
| Equity10/15 | €0.8m | €0.8m | €0.8m | €0.8m | €0.9m | €1.0m | €1.0m | €0.9m | ▼ 5.7% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 13.6% |
| Provisions and deferred taxes16 | - | - | €0.03m | - | - | - | - | - | - |
| Amounts payable17/49 | €0.7m | €0.7m | €1.0m | €1.0m | €0.9m | €0.7m | €0.8m | €0.4m | ▼ 48.0% |
| Amounts payable after more than one year17 | €0.008m | - | - | - | - | - | €0.3m | €0.3m | = |
| Financial debts170/4 | - | - | - | - | - | - | €0.3m | €0.3m | = |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €1.0m | €1.0m | €0.9m | €0.7m | €0.6m | €0.2m | ▼ 68.2% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Trade debts44 | €0.2m | €0.2m | €0.4m | €0.5m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 2.8% |
| Suppliers440/4 | - | - | - | €0.5m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 2.8% |
| Advances received on contracts in progress46 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.06m | €0.05m | €0.05m | €0.02m | ▼ 66.5% |
| Taxes450/3 | - | - | - | - | - | - | - | €0.002m | - |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.06m | €0.05m | €0.05m | €0.02m | ▼ 70.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,383 | €29,779 | €21,384 | €37,476 | €80,869 | €43,420 | €36,550 | -€57,205 | - |
| + Depreciation and write-downs630 | €35,742 | €25,952 | €25,721 | €13,603 | €11,730 | €12,208 | €14,874 | €5,375 | ▼ 63.9% |
| Operating cash flow (approximation) | €77,125 | €55,731 | €47,106 | €51,079 | €92,599 | €55,628 | €51,424 | -€51,830 | - |
| Investment in fixed assets (approximation) | - | -€7,267 | -€50,456 | -€147 | -€11,843 | -€13,835 | €2,469 | -€1,225 | - |
| Change in cash | - | -€61,362 | €35,595 | -€17,364 | -€1,832 | -€47,726 | €38,718 | -€37,527 | - |
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, 8,617 companies had the same profile as LAKER has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LAKER itself: 0.5% within 12 months.
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 8,617 companies, not a prediction for LAKER. 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.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 01-09-2026 | 2026-00489798 | |
| 31-12-2024 | full format | 20-11-2025 | 2025-00569159 | |
| 31-12-2023 | full format | 21-08-2024 | 2024-00356453 | |
| 31-12-2022 | full format | 09-11-2023 | 2023-00509383 | |
| 31-12-2021 | full format | 12-12-2022 | 2022-20535583 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-60700445 | |
| 31-12-2019 | full format | 29-12-2020 | 2020-77300461 | |
| 31-12-2018 | full format | 05-12-2019 | 2019-75400151 | |
| 31-12-2017 | full format | 27-08-2018 | 2018-51100349 | |
| 31-12-2016 | full format | 05-10-2017 | 2017-66500205 |