Equity
Lambda-X Ophthalmics paid out €1.3m in dividends. That is 102% of the 2025 profit.
Lambda-X Ophthalmics paid out €1.3m in dividends. That is 102% of the 2025 profit.
The accounts state no turnover.
Debts rose by €1.4m in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Green is investment, beige is depreciation. Machinery stands 26.1% higher than in 2024.
In 2025, nobody joined and 3 people left.
Higher net result than 95% of companies in computer and electronic products. Sector median €21,042 · 147 companies.
The dashed line is the sector median: 0.1% across 447 companies (NACE 26, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 26, micro). It does better than 57% of them on solvency, 27% on liquidity, 83% on profitability and 42% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 39,278 companies had the same profile as Lambda-X Ophthalmics has now. Each dot stands for 99 companies, two years later.
The bankruptcy probability of Lambda-X Ophthalmics itself is lower: < 0.1% within 12 months. It rests on far more data about Lambda-X Ophthalmics than the profile alone.
The method was tested on the 497,447 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 39,278 companies, not a prediction for Lambda-X Ophthalmics. 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.
Liquidity is ample, with a current ratio of 1.83 (2.97 in 2024), above the usual 1.5. Short-term debt is 39.6% and cash 8.6% of total assets. 43.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 3 accounts on average 35 days before the deadline. In the sector (NACE 26), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Lambda-X Ophthalmics Nivelles | - | - | 56.2% | 9.6 |
| SIMERA SENSE EUROPE Leuven | - | - | 11.8% | 0.5 |
| Altereyes Hasselt | - | - | 57.3% | 5.8 |
| AMS SENSORS BELGIUM Antwerp | €21.2m | -52.0% | 64.0% | 50.1 |
| E POWER Wommelgem | - | - | 0.8% | 6.1 |
| HOYA LENS BELGIUM Antwerp | €22.8m | 28.1% | 22.7% | 35.5 |
| PUPIL Aalst | - | - | 65.7% | - |
These companies have the same main activity as Lambda-X Ophthalmics: manufacture of computer, electronic and optical products (NACE 26700). They are comparable in size and age: total assets between €981,000 and €26m, founded between 1989 and 2020.
Lambda-X Ophthalmics files the abbreviated format. That format states no turnover. The gross margin rose from €1.9m in 2023 to €3.2m in 2025.
Lesna Participations holds all the shares. In November 2024, five directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €5.5m. Estimated: probably between €3.7m and €9.0m.
Higher than 58% of 148 companies in 2025.
Higher than 51% of 141 companies in 2025.
Higher than 87% of 145 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, nobody joined and 3 people left. Training hours in 2025: 40.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
7.0m | 5.7m | 6.6m | |
20 |
0 | 33,774 | 67,547 | |
21/28 |
1.9m | 1.2m | 670,664 | |
21 |
1.7m | 1.1m | 645,852 | |
22/27 |
194,493 | 172,665 | 24,812 | |
23 |
168,426 | 133,603 | - | |
24 |
26,067 | 39,062 | 24,812 | |
29/58 |
5.1m | 4.4m | 5.8m | |
3 |
1.2m | 1.5m | 1.2m | |
30/36 |
1.2m | 1.5m | 1.1m | |
37 |
- | - | 48,728 | |
40/41 |
1.6m | 1.6m | 4.1m | |
40 |
1.2m | 1.3m | 1.3m | |
41 |
400,159 | 280,029 | 2.8m | |
50/53 |
1.6m | 1.1m | - | |
54/58 |
606,698 | 215,026 | 491,730 | |
490/1 |
129,743 | 66,237 | 32,272 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
7.0m | 5.7m | 6.6m | |
10/15 |
4.0m | 4.0m | 3.0m | |
10/11 |
192,034 | 192,034 | 192,034 | |
13 |
378,900 | 378,900 | - | |
132 |
378,900 | 378,900 | - | |
14 |
3.4m | 3.4m | 2.8m | |
15 |
2,368 | 2,912 | 3,456 | |
16 |
29,183 | 7,983 | 7,983 | |
160/5 |
29,183 | 7,983 | 7,983 | |
160 |
7,983 | 7,983 | 7,983 | |
164/5 |
21,200 | - | - | |
17/49 |
3.1m | 1.7m | 3.6m | |
42/48 |
2.8m | 1.5m | 3.3m | |
43 |
87,771 | 13,840 | 531,779 | |
430/8 |
87,771 | 13,840 | 531,779 | |
44 |
877,576 | 663,145 | 2.3m | |
440/4 |
877,576 | 663,145 | 2.3m | |
46 |
362,596 | 484,903 | 410,039 | |
45 |
157,960 | 230,532 | 68,749 | |
450/3 |
1,571 | 99,543 | 834 | |
454/9 |
156,389 | 130,989 | 67,914 | |
47/48 |
1.3m | 92,302 | - | |
492/3 |
263,661 | 201,858 | 259,488 | |
| Income statement | ||||
76A |
- | 427,697 | - | |
9900 |
3.2m | 3.1m | 1.9m | |
62 |
1.2m | 924,003 | 563,624 | |
630 |
673,825 | 396,961 | 240,308 | |
631/4 |
19,906 | - | 2,710 | |
635/8 |
21,200 | - | 7,983 | |
640/8 |
105 | 2,916 | 130 | |
66A |
8,606 | 482,044 | 110,502 | |
9901 |
1.2m | 1.3m | 978,175 | |
75/76B |
61,745 | 51,954 | 15,583 | |
75 |
61,745 | 51,954 | 15,583 | |
65/66B |
99,867 | 57,116 | 66,266 | |
65 |
99,867 | 57,116 | 66,266 | |
9903 |
1.2m | 1.3m | 927,492 | |
67/77 |
-91,049 | 239,160 | 729 | |
9904 |
1.3m | 1.0m | 926,763 | |
689 |
- | 378,900 | - | |
9905 |
1.3m | 652,725 | 926,763 | |
| Appropriation of the result | ||||
9906 |
4.7m | 3.4m | 926,763 | |
14P |
3.4m | 2.8m | - | |
791/2 |
- | - | 1.8m | |
694/7 |
1.3m | - | - | |
694 |
1.3m | - | - | |
| Social balance sheet | ||||
9087 |
9.6 | 8.2 | 5.7 | |
Hours worked1013 |
16,876 | 13,744 | 10,088 | |
| Document | ||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 1.9m | 1.7m | 1.2m | ||
| 1.9m | 1.4m | 1.2m | ||
| 1.3m | 937,061 | 4.9m | ||
| 391,672 | -276,704 | - | ||
| 2.3m | 2.9m | 2.5m | ||
| 56.2% | 70.2% | 45.0% | ||
| 1.83 | 2.97 | 1.74 | ||
| 1.41 | 1.98 | 1.39 | ||
| 0.77 | 0.42 | 1.22 | ||
| 32.1% | 25.9% | 31.3% | ||
| 18.0% | 18.2% | 14.1% | ||
| 18.93 | 29.29 | 18.39 |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 9 | 12 | 7 |
| full-time | 7 | 9 | 7 |
| part-time | 2 | 3 | - |
| in full-time equivalents | 8.6 | 11.2 | 7 |
| 9.6 | 8.2 | 5.7 | |
| On a permanent contract | 9 | 12 | 7 |
| Joined | 0 | 6 | 7 |
| Left | 3 | 1 | 0 |
| Training hours | 40 | 88 | - |
Source: social balance sheet in the 2023 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Debts secured on the company's own assets | €87,771 | €13,840 | €531,779 |
| €1.0m | €1.0m | €1.0m |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €80,132 | €174,144 | €224,067 |
| Intangible fixed assets | €1.3m | €762,916 | €4.6m |
| €673,825 | €396,961 | €240,308 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 5% lower than in 2024.
Debt's share of the balance-sheet total rises from 29.7% to 43.4%. Equity is lower and debt is higher.
Further up the chainWhitestone Group 69.1%WHITESTONE PARTNERS, EN ABREGE : WP 79.35%
Source: shareholder structure in its own accounts
Source: list of holdings in the 2025 accounts of Lesna Participations. Every holding stands with its own latest accounts.
Part of the group WHITESTONE PARTNERS, EN ABREGE : WP Group, risk and exposure| Lambda-X High Tech via PRO-VISION MANAGEMENT (at Lambda-X Ophthalmics, last mentioned in 2023), VERHAERT NEW-PRODUCTS & SERVICES (at Lambda-X Ophthalmics until 2024) and P.O. INVEST (at Lambda-X Ophthalmics, last mentioned in 2023) · Director · deed of 01-08-2023 founded in 2023 |
43 FTE (2025) |
| INNOVATION FACILITIES via PRO-VISION MANAGEMENT (at Lambda-X Ophthalmics, last mentioned in 2023), VERHAERT NEW-PRODUCTS & SERVICES (at Lambda-X Ophthalmics until 2024) and P.O. INVEST (at Lambda-X Ophthalmics, last mentioned in 2023) · deeds of 04-06-2026 and 18-05-2021 founded in 1996 |
total assets €3.3m (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Lambda-X Ophthalmics was incorporated on 28 July 2023 as a private limited company by PRO-VISION MANAGEMENT, P.O. Invest and VERHAERT - NEW PRODUCTS & SERVICES, with a starting capital of €2.0m.12 The name was changed to LXO in 2024.3 The board currently has 3 members, 3 of whom have served since 2024.4 Total assets went from €6.6m in 2023 to €7.0m in 2025 and headcount from 5.7 to 9.6 full-time equivalents.5
| Establishment | Since | Unit number |
|---|---|---|
| Avenue Robert Schuman 102 registered office 1400 Nivelles | 28-07-2023 | 2.347.958.442 |
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