LAMBDA INSULATION
ActiveSummary
LAMBDA INSULATION has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €395,293 and a net result of €129,079. Equity has been shrinking by about 8.7% per year since 2018. Its solvency ranks better than 24% of 2,445 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 02-02-1994 Normal situation
- Activity
- Insulation installation NACE 43230and 3 others
- Joint committee
- 124 Paritair Comité voor het bouwbedrijf · annual accounts 2025
- Establishment unit
- 2.065.676.960 4460 Grâce-Hollogne, since 18-03-2002
- Financial year end
- 31 December
- Peppol
- Reachable since 06-05-2025
Board and ownership
Board
- Insulation InvestManaging director · permanent representative Julien HOURLAY
- Iso ManagementDirector · since 06-07-2023 · permanent representative Emmanuel RAZE
Shareholders
- Insulation Invest100%30-06-2025 annual accounts of Insulation Invest
- PHI-INVEST99.9%30-09-2023 annual accounts of PHI-INVEST
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- €1.1m
- ▲ 22.2%
- Turnover
- ≈ €3.0m
- estimated
- Profit
- €129,079
- ▼ 2.8%
- Equity
- €395,293
- ▼ 15.2%
- Total assets
- €1.7m
- ▲ 17.9%
- Employees on 31-12-2025
- 15
- ▲ 15.4%
- 2025 accounts filed 17 days after the deadline
Score breakdownraises riskSector: Specialised construction activities (NACE 43)Equity €395,293 (22.9% of total assets)lowers riskLiquidity: current ratio 1.67, cash €427,124Profit of €129,079 (financial year 2025)Show the evidence
Checked score
Score 2025
88
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 42% of small companies in specialised construction (NACE 43)
Financial strength · tick: 2024
Average
Solvency
48-9
equity 22.9% of total assets
Liquidity
51-10
short-term debt 57.2% · cash 24.8%
Profitability
78-2
return on assets 7.5%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025highest value
09-2025: 0.1%▼ -0.3 percentage points vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026lowest value
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €30,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.67 (2.32 in 2024), above the usual 1.5. Short-term debt is 57.2% and cash 24.8% of total assets. However, 77.1% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, small). It does better than 25% of them on solvency, 62% on liquidity, 66% on profitability and 14% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 2445 sector peers (2025).
NBB · sector comparisonPosition among 2445 sector peers
Solvency
better than 24%
← weakest
strongest →
raises risk · 2025 accounts filed 17 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
17 days late
2024
28 days late
2023
30 days late
2022
87 days early
2021
45 days early
2020
3 days late
2019
46 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 August (4 of the last 5 accounts filed within 62 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 17 days after the deadline Filed on 17 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00401004.
Annual accounts 2025 filed on 17-08-2026 at the NBB all 32 filings
Turnover
≈ €3.0m
Estimated: probably between €2.3m and €3.7m
EBIT margin
Not included in this filing
Net result
€129,079▼ 2.8%
2024 · €132,808
Working capital
€658,236▼ 16.1%
2024 · €784,499
In the rankings
#4 employer in Grâce-Hollogne, Construction sector#10 company by total assets in Grâce-Hollogne, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€195,376
▼ 5.4%
2025
20182025
Net result
€129,079
▼ 2.8%
2025
middle half of the sector
20182025
Equity
€395,293
▼ 15.2%
2025
middle half of the sector
20182025
Total assets
€1.7m
▲ 17.9%
2025
middle half of the sector
20182025
Debt
€1.3m
▲ 33.4%
2025
20182025
Working capital
€658,236
▼ 16.1%
2025
middle half of the sector
20182025
Solvency
22.9%
▼ 9.0pp
2025
lowest quarter of the sector
20182025
Current ratio
1.67
▼ 0.65
2025
middle half of the sector
20182025
Return on assets (ROA)
7.5%
▼ 1.6pp
2025
middle half of the sector
20182025
Staff (FTE)
15
▲ 30.4%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.4m▲ 29.0%€0.4m=€0.4m▼ 0.5%€0.5m▲ 21.2%€0.4m▼ 24.4%€0.2m▼ 43.1%€0.2m▼ 5.4%
Net result€0.2m-€0.3m▲ 29.7%€0.3mabove the sector's middle half▲ 5.7%€0.3mabove the sector's middle half▼ 1.0%€0.4mabove the sector's middle half▲ 21.8%€0.3mabove the sector's middle half▼ 19.9%€0.1mabove the sector's middle half▼ 55.1%€0.1mwithin the sector's middle half▼ 2.8%
Equity€0.8m-€0.7m▼ 8.0%€0.7mabove the sector's middle half▼ 6.4%€0.6mabove the sector's middle half▼ 7.3%€0.7mabove the sector's middle half▲ 2.5%€0.3mwithin the sector's middle half▼ 48.8%€0.5mwithin the sector's middle half▲ 39.8%€0.4mwithin the sector's middle half▼ 15.2%
Total assets€1.9m-€2.1m▲ 14.6%€1.8mabove the sector's middle half▼ 14.7%€1.7mabove the sector's middle half▼ 4.4%€2.2mabove the sector's middle half▲ 27.2%€1.6mwithin the sector's middle half▼ 27.4%€1.5mwithin the sector's middle half▼ 9.5%€1.7mwithin the sector's middle half▲ 17.9%
Debt€1.1m-€1.4m▲ 31.3%€1.1m▼ 18.9%€1.1m▼ 2.7%€1.6m▲ 41.3%€1.3m▼ 18.6%€1.0m▼ 22.3%€1.3m▲ 33.4%
Working capital€0.8m-€0.7m▼ 12.1%€0.6mabove the sector's middle half▼ 10.8%€0.5mabove the sector's middle half▼ 11.7%€0.5mabove the sector's middle half▲ 0.9%€0.7mabove the sector's middle half▲ 34.4%€0.8mabove the sector's middle half▲ 8.5%€0.7mwithin the sector's middle half▼ 16.1%
Solvency42.5%-34.1%▼ 8.4pp37.4%within the sector's middle half▲ 3.3pp36.3%within the sector's middle half▼ 1.1pp29.3%within the sector's middle half▼ 7.0pp20.6%below the sector's middle half▼ 8.6pp31.9%within the sector's middle half▲ 11.2pp22.9%below the sector's middle half▼ 9.0pp
Current ratio1.97-1.59▼ 0.381.64within the sector's middle half▲ 0.051.57within the sector's middle half▼ 0.081.39within the sector's middle half▼ 0.181.92within the sector's middle half▲ 0.532.32within the sector's middle half▲ 0.401.67within the sector's middle half▼ 0.65
Return on assets (ROA)11.9%-13.5%▲ 1.6pp16.7%above the sector's middle half▲ 3.2pp17.3%above the sector's middle half▲ 0.6pp16.6%above the sector's middle half▼ 0.7pp18.3%above the sector's middle half▲ 1.7pp9.1%within the sector's middle half▼ 9.2pp7.5%within the sector's middle half▼ 1.6pp
Staff (FTE)13.1-13.2▲ 0.8%12.6within the sector's middle half▼ 4.5%12.3within the sector's middle half▼ 2.4%9.3within the sector's middle half▼ 24.4%10within the sector's middle half▲ 7.5%11.5within the sector's middle half▲ 15.0%15within the sector's middle half▲ 30.4%
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 5% 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 €1.7m
Fixed assets
€79,943 ▼ 3.0%
Current assets
€1.6m ▲ 19.2%
Equity and liabilities €1.7m
Equity
€395,293 ▼ 15.2%
Debt
€1.3m ▲ 33.4%
Debt's share of the balance-sheet total rises from 68.1% to 77.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€217,209▼
2024 · €235,408
Cash flow
€150,912▼
2024 · €161,705
Quick ratio
1.61▼
2024 · 2.22
Debt to equity
3.36▲
2024 · 2.14
ROE
32.7%▲
2024 · 28.5%
Interest coverage
10.45▲
2024 · 9.04
Debt ≤ 1 year
€986,513▲
2024 · €595,750
Debt > 1 year
€336,258▼
2024 · €400,714
Income taxes
€45,536▼
2024 · €47,672
Staff costs
€872,911▲
2024 · €656,883
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 9 | 10 | 13 | 15 |
| full-time | 10 | 9 | 10 | 13 | 15 |
| part-time | - | - | - | 0 | 0 |
| in full-time equivalents | 10 | 9 | 10 | 13 | 15 |
| Average over the year, in full-time equivalents | 12.3 | 9.3 | 10 | 11.5 | 15 |
| On a permanent contract | 7 | 6 | 6 | 8 | 12 |
| Joined | 3 | 1 | 5 | 5 | 4 |
| Left | 5 | 2 | 4 | 2 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €50,550 | €109,045 | €20,996 | €7,940 | €38,335 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €62,112 | €74,761 | €40,184 | €28,897 | €21,833 |
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 | - | - | - | €200 | €0.002m | €0.001m | €0 | €0.007m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.5m | €0.5m | €0.7m | €0.9m | ▲ 32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.06m | €0.06m | €0.06m | €0.07m | €0.04m | €0.03m | €0.02m | ▼ 24.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | -€0.02m | - | - | -€0.1m | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.03m | €0.003m | €0.004m | €0.1m | ▲ 29× |
| Non-recurring operating charges66A | - | - | - | - | €0.01m | €0.04m | €0 | €0.001m | - |
| Gross operating margin9900 | €0.9m | €1.1m | €1.0m | €1.0m | €1.1m | €1.0m | €0.9m | €1.1m | ▲ 22.2% |
| Operating profit (loss)9901 | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | €0.4m | €0.2m | €0.2m | ▼ 5.4% |
| Financial income75/76B | - | - | - | €0.003m | €0.004m | €0.01m | €3 | €24 | ▲ 619% |
| Recurring financial income75 | €0.003m | €0.004m | €0.003m | €0.003m | €0.004m | €0.01m | €3 | €24 | ▲ 619% |
| Financial charges65/66B | - | - | - | €0.01m | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 20.2% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | €0.4m | €0.2m | €0.2m | ▼ 3.2% |
| Income taxes67/77 | €0.07m | €0.09m | €0.08m | €0.08m | €0.1m | €0.06m | €0.05m | €0.05m | ▼ 4.5% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.1m | €0.1m | ▼ 2.8% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.1m | €0.1m | ▼ 2.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.9m | €2.1m | €1.8m | €1.7m | €2.2m | €1.6m | €1.5m | €1.7m | ▲ 17.9% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | €0.08m | €0.08m | ▼ 3.0% |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | €0.08m | €0.08m | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.1m | €0.07m | €0.06m | ▼ 7.0% |
| Leasing and similar rights25 | - | - | - | €0.2m | €0.1m | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.005m | €0.004m | €0.007m | €0.01m | €0.02m | ▲ 16.6% |
| Financial fixed assets28 | €106 | €106 | €106 | €106 | €106 | €106 | €106 | €106 | = |
| Current assets29/58 | €1.6m | €1.8m | €1.5m | €1.5m | €1.9m | €1.5m | €1.4m | €1.6m | ▲ 19.2% |
| Stocks and contracts in progress3 | €0.05m | €0.05m | €0.04m | €0.04m | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 6.6% |
| Stocks30/36 | - | - | - | €0.04m | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 6.6% |
| Amounts receivable within one year40/41 | €1.2m | €1.3m | €0.8m | €0.9m | €1.2m | €1.1m | €1.0m | €1.0m | ▼ 1.8% |
| Trade receivables40 | - | - | - | €0.9m | €1.1m | €1.0m | €0.9m | €0.8m | ▼ 9.7% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.08m | €0.1m | €0.05m | €0.1m | ▲ 139% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.2m | - |
| Cash at bank and in hand54/58 | €0.3m | €0.5m | €0.7m | €0.5m | €0.7m | €0.3m | €0.4m | €0.4m | ▲ 19.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.001m | €0.008m | €0 | €0.008m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.9m | €2.1m | €1.8m | €1.7m | €2.2m | €1.6m | €1.5m | €1.7m | ▲ 17.9% |
| Equity10/15 | €0.8m | €0.7m | €0.7m | €0.6m | €0.7m | €0.3m | €0.5m | €0.4m | ▼ 15.2% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.7m | €0.6m | €0.6m | €0.5m | €0.5m | €0.2m | €0.4m | €0.3m | ▼ 19.9% |
| Investment grants15 | - | - | - | €0.02m | €0.01m | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.4m | €1.1m | €1.1m | €1.6m | €1.3m | €1.0m | €1.3m | ▲ 33.4% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.5m | €0.4m | €0.3m | ▼ 16.1% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.5m | €0.4m | €0.3m | ▼ 16.1% |
| Amounts payable within one year42/48 | €0.8m | €1.1m | €0.9m | €0.9m | €1.4m | €0.8m | €0.6m | €1.0m | ▲ 65.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.09m | €0.09m | €0.09m | €0.08m | ▼ 7.8% |
| Trade debts44 | €0.6m | €0.6m | €0.6m | €0.5m | €0.6m | €0.5m | €0.4m | €0.7m | ▲ 47.5% |
| Suppliers440/4 | - | - | - | €0.5m | €0.6m | €0.5m | €0.4m | €0.7m | ▲ 47.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.02m | €0.06m | €0.04m | ▼ 27.5% |
| Taxes450/3 | - | - | - | - | €0.004m | €0.02m | €0.03m | €0.01m | ▼ 46.4% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.03m | €0.004m | €0.03m | €0.03m | ▼ 9.8% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.7m | €0.2m | €0.001m | €0.2m | ▲ 147× |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.01m | €0.002m | €0 | €0.007m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €223,104 | €289,275 | €305,882 | €302,780 | €368,890 | €295,559 | €132,808 | €129,079 | ▼ 2.8% |
| + Depreciation and write-downs630 | €48,532 | €58,936 | €57,871 | €62,112 | €74,761 | €40,184 | €28,897 | €21,833 | ▼ 24.4% |
| Operating cash flow (approximation) | €271,637 | €348,211 | €363,753 | €364,892 | €443,651 | €335,743 | €161,705 | €150,912 | ▼ 6.7% |
| Investment in fixed assets (approximation) | - | -€73,247 | -€23,951 | -€50,550 | -€91,452 | €148,928 | -€7,940 | -€19,347 | ▼ 144% |
| Change in cash | - | €188,382 | €220,192 | -€202,967 | €183,937 | -€318,669 | €13,484 | €69,629 | ▲ 416% |
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, 2,613 companies had the same profile as LAMBDA INSULATION has now. Two years later, 97.3% were still going and 0.7% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.3%
was still going
2.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of LAMBDA INSULATION itself: 0.2% 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 2,613 companies, not a prediction for LAMBDA INSULATION. 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 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 17-08-2026 | 2026-00401004 | |
| 31-12-2024 | full format | 28-08-2025 | 2025-00416597 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00408799 | |
| 31-12-2022 | full format | 05-05-2023 | 2023-00080636 | |
| 31-12-2021 | full format | 16-06-2022 | 2022-20066713 | |
| 31-12-2020 | full format | 03-08-2021 | 2021-44900105 | |
| 31-12-2019 | full format | 15-06-2020 | 2020-16500475 | |
| 31-12-2018 | full format | 14-06-2019 | 2019-18100266 | |
| 31-12-2017 | full format | 05-07-2018 | 2018-27600132 | |
| 31-12-2016 | full format | 15-06-2017 | 2017-17200084 |
Board & ownership
Directors
Directors
2 directors, 1 in day-to-day management, last change in 2023
Board 2
Insulation Invest
Current
Director · since 06-07-2023 · Private limited company · permanent representative: Julien HOURLAY · listed in the 2025 annual accounts, filed on 17-08-2026
Iso Management
Current
Director · since 06-07-2023 · Limited partnership · permanent representative: Emmanuel RAZE · listed in the 2025 annual accounts, filed on 17-08-2026
Day-to-day management 1
Insulation Invest
Current
Managing director · appointed in the act of 26-07-2023 · Private limited company · permanent representative: Julien HOURLAY
Permanent representatives 2
Emmanuel RAZE
Current
Permanent representative · appointed in the act of 26-07-2023 · for Iso Management
Julien HOURLAY
Current
Permanent representative · appointed in the act of 26-07-2023 · for Insulation Invest
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 16: Représentation de la société Sans préjudice du pouvoir de représentation général du conseil d’administration comme collège, la…”
deed of 18-12-2023Owners and capital
Shareholders
2 ownersChain of control
- Insulation Invest
- LAMBDA INSULATION
Owners 2
- Insulation InvestparentEquity €936,535 Profit of €304,906 in 2025 (profit of €601,630 in 2024)100%
-
99.9%
Capital transactions
Capital over time
- 18-12-2023 Capital stated in the deed · €100,000 · 1,000 shares
Mandate history
5 people, 2 in office
- Board
- Day-to-day management
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Insulation Invest |
|
| Iso Management |
|
| Edmond BEUMER |
|
| Emmanuel RAZE |
|
| ISO MANAGEMEMENT |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Seule l’assemblée générale nomme nouvel administrateur, 6 ans”
Articles of association, deed of 18-12-2023 (in French)
Network & group
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
17-08
full format · 17 days late
2025
28-08
full format · 28 days late
2024
30-08
full format · 30 days late
2023
18-12
Gazette deed
Company renamed from LAMBDA INSULATION GROUP to LAMBDA INSULATIONAmendment of the articles · Capital · Registered office clause6 points ▸
Gazette deed
Company renamed from LAMBDA INSULATION GROUP to LAMBDA INSULATION
Amendment of the articles · Capital · Registered office clause6 points ▸
- General meeting, “assemblée générale extraordinaire des actionnaires” (deed in French)
- Amendment of the articles, mentioned 2 times in the deed
- Name change, LAMBDA INSULATION
- Capital, €100,000
- Registered office clause, “4460 Grâce-Hollogne,Rue de la Bureautique 6, QUATRIEME RESOLUTION” (deed in French)
- Power of attorney
26-07
Gazette deed
3 directors appointed, 2 directors resigningResignations: Emmanuel RAZE (director) and Edmond BEUMER (director) · Appointments: INSULATION INVEST (director) and ISO MANAGEMEMENT (director) · Permanent representatives: Julien HOURLAY and Emmanuel RAZE12 points ▸
Gazette deed
3 directors appointed, 2 directors resigning
Resignations: Emmanuel RAZE (director) and Edmond BEUMER (director) · Appointments: INSULATION INVEST (director) and ISO MANAGEMEMENT (director) · Permanent representatives: Julien HOURLAY and Emmanuel RAZE12 points ▸
- General meeting, 06-07-2023
- Director resignation, Emmanuel RAZE
- Director resignation, Edmond BEUMER
- Director discharge, Emmanuel RAZE
- Director discharge, Edmond BEUMER
- Director appointment, INSULATION INVEST (director)
- Director appointment, ISO MANAGEMEMENT (director)
- Permanent representative, Julien HOURLAY (representative)
- Permanent representative, Emmanuel RAZE (representative)
- Board meeting, “Les deux administrateurs” (deed in French)
- Director appointment, INSULATION INVEST (managing director)
- Director in office, Jean-Michel COLLARD (managing director)
05-05
full format · 87 days before the deadline
2022
31-12
Financial
Highest result from 2018 to 2025net €368,890 ▲21.8%
The operating result of €479,522 and the net result of €368,890 are both a record.
16-06
full format · 45 days before the deadline
2021
03-08
full format · 3 days late
2020
15-06
full format · 46 days before the deadline
2019
14-06
full format · 47 days before the deadline
2018
05-07
full format · 26 days before the deadline
2017
15-06
full format · 46 days before the deadline
1994
24-02
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
LAMBDA INSULATION in French
Former name
LAMBDA INSULATION GROUP until the act of 18-12-2023
Enterprise number
0451.909.538
Legal form
Public limited company
Status
Active, normale toestand
Founded
02-02-1994
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 18-12-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, établir ou supprimer sièges administratifs,agences,ateliers,dépôts et succursales en Belgique et à l’étranger par simple…”
deed of 18-12-2023 (in French)Registered office and establishments
Registered office
Rue de la Bureautique 6, 4460 Grâce-Hollogne, Belgium
Establishment unit
LAMBDA INSULATION GROUP, Rue de la Bureautique 6, 4460 Grâce-Hollogne since 18-03-2002 · unit number 2.065.676.960
Activities
NACEBEL 2025VAT activities
43230
Insulation installation main activity
43211
General electrical installation work
43222
Installation of electric heating, air conditioning, cooling and ventilation
46831
Wholesale of construction materials, general range
Social security (RSZ) activities
43230
Insulation installation main activity
Codes under NACEBEL 2008
VAT activities
43291
Specialised construction activities main activity
43211
Specialised construction activities
43222
Specialised construction activities
46731
Wholesale trade
Social security (RSZ) activities
43291
Specialised construction activities main activity
Codes under NACEBEL 2003
VAT activities
45320
main activity
45310
Social security (RSZ) activities
45320
main activity
Joint committee
124 Paritair Comité voor het bouwbedrijf annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 18-12-2023 (in French)
“La réalisation de tous travaux dans le secteur du bâtiment et plus spécialement dans les domaines de l’isolation…”
5 activities
- La réalisation de tous travaux dans le secteur du bâtiment et plus spécialement dans les domaines de l’isolation thermique,acoustique,frigorifique et de la sécurité incendie.
- La commercialisation en gros et en détail de tous les produits et matériaux en rapport avec le bâtiment.
- L’entreprise de placement de cloisons et de faux plafonds,installation de ventilation et d’aération,de chauffage à air chaud et de conditionnement d’air et de tuyauteries industrielles.
- Elle peut accomplir toutes opérations généralement quelconques,commerciales,industrielles,financières,mobilières ou immobilières,se rapportant directement ou indirectement à son objet.
- La société peut s’intéresser par toutes voies dans toutes affaires,entreprises ou sociétés ayant un objet identique,similaire ou connexe,ou qui sont de nature à favoriser le développement de son entreprise,à lui procurer des matières premières ou à faciliter l’écoulement de ses produits.
Invoicing and payment
VAT number
BE 0451.909.538
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0451.909.538
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Recognitions · licences · registrations
Recognised contractor
1 categoryLAMBDA INSULATION SAapproval number 36526
- D4 Sound and heat insulation, light partitions, false ceilings and floorsclass 4, up to €1,080,000
Sites & property
Location
Cannot be placed on the map
This address was not found in the Belgian address register (BOSA BEST).
Rue de la Bureautique 64460 Grâce-Hollogne