Equity
-€6.0m
Debts exceed assets in financial year 2025.
Laminated Timber Solutions
Lifetime
19 annual accounts with figures on one time axis, 27 filings since 1999peak €23.4m (2023)
€13.1m▼ 33.2%
lowest -€5.6m (2024)
-€2.4m▲ €3.2m
peak €2.0m (2023)
-€6.0m▼ €2.4m
€6.2m▼ 25.2%
peak 46.1 FTE (2007)
17.9 FTE▼ 2.2%
Board11 names since 2016
2 directorsTROREMA BV and 1 other
Owners5 names in the annual accounts
100%GROEP TERRYN and 1 other
Documentsfilings and deeds
09-07-202622 days before the deadline
2025financial year
Turnover from €19.7m to €13.1mLoss of €2.4mCompany renamed from KORLAM to Laminated Timber Solutions 22-09Reappointment: Bruno Lambrecht (director) 03-07Equity from -€3.6m to -€6.0mDebts from €8.3m to €6.2m
Key points
from the 2025 annual accountsLosses
-€8.0m in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€6.2m 825% of the balance sheet
Suppliers 11%Taxes and wages 1%Other 88%
Of this, €6.2m falls due within a year.
Staff
17.9 FTE from 46.1 in 2007
Between 2007 and 2025, 61% of the full-time equivalents disappeared.
Payment terms
17 days to suppliers
Laminated Timber Solutions pays its suppliers 15 days earlier than in 2024. Customers pay 80 days earlier.
Liquidity
0.12 was 0.84 in 2024
Short-term debts fell from €8.2m to €6.2m.
Checked score
30
Weak
Financially stronger than 2% of small companies in specialised construction (NACE 43)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
8.0% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025lowest value
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 5.6%▲ +5.2 percentage points vs 06-2025
08-2025: 5.6%● unchanged vs 07-2025
09-2025: 5.6%● unchanged vs 08-2025
10-2025: 5.6%● unchanged vs 09-2025
11-2025: 5.6%● unchanged vs 10-2025
12-2025: 5.6%● unchanged vs 11-2025
01-2026: 5.6%● unchanged vs 12-2025
02-2026: 6.6%▲ +1.0 percentage point vs 01-2026
03-2026: 6.5%▼ -0.1 percentage points vs 02-2026
04-2026: 6.6%▲ +0.1 percentage points vs 03-2026
05-2026: 6.9%▲ +0.3 percentage points vs 04-2026
06-2026: 7.0%▲ +0.1 percentage points vs 05-2026
07-2026: 7.2%▲ +0.2 percentage points vs 06-2026
08-2026: 7.4%▲ +0.2 percentage points vs 07-2026
09-2026: 7.4%● unchanged vs 08-2026
10-2026: 8.0%▲ +0.6 percentage points vs 09-2026highest value
11-2026: 8.0%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€6.0m
Loss of €2.4m, the second in a row (financial year 2025)
Liquidity: current ratio 0.12
Sector: Specialised construction activities (NACE 43)
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 1% of them on solvency, 0% on liquidity, 2% on profitability and 5% on growth.
The bankruptcy probability was computed on 09-11-2026 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 elevated class on 30-06-2025, 6.3% 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).
Comparable companies, two years later
In July 2024, 678 companies had the same profile as Laminated Timber Solutions has now. Each dot stands for 2 companies, two years later.
84.5%
were still trading
6.2%
stopped another way
6.8%
went bankrupt
Another 2.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Laminated Timber Solutions itself: 8.0% within 12 months.
Test of the method
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 678 companies, not a prediction for Laminated Timber Solutions. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.12 (0.84 in 2024), below 1. Short-term debt is 817% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€6.0m
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 days early
2024
44 days early
2023
29 days early
2022
29 days late
2021
22 days late
2020
58 days early
2019
32 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 19 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 9 July (4 of the last 5 accounts filed within 44 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
TB
TROREMA BV
Director, Raymund Trost, since 19-08-2022
- GROEP TERRYN 100%score 50equity €815,784 (2025) · 2025 annual accounts of GROEP TERRYN
Recent changes
Appointment: Lamcy BV (director)
Permanent representative: Bruno Lambrecht · General meeting of 16-06-2026 · Gazette deed
Registered office moved from Moorslede to Brussels
New registered office: Edmond Van Nieuwenhuyselaan 30, 1160 Brussel · Previous registered office: Breulstraat 111-8890 Moorslede · Resignation: Bruno Lambrecht (director) · Board meeting of 05-01-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0463229834
Company renamed from KORLAM to Laminated Timber Solutions
General meeting of 08-09-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Laminated Timber Solutions Auderghem | €13.1m | -16.4% | -792.9% | 17.9 |
| WERBROUCK ALU-PVC Izegem | €7.0m | 4.8% | 17.5% | 25.3 |
| BOFLEX Hasselt | €5.0m | -4.6% | 77.4% | 17.9 |
| DE HONDT Grimbergen | €4.2m | -6.3% | 65.1% | 14.2 |
| LE CHASSIS ISOLANT Wavre | €4.4m | 1.2% | 38.0% | 28.7 |
| MENUISERIE PONCIN Musson | €2.8m | 6.1% | 50.6% | 10.2 |
| BOLSTER Ternat | €3.3m | 4.3% | 46.7% | 11 |
Grey: the largest companies of the sector (specialised construction (NACE 43)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Laminated Timber Solutions: joinery installation (NACE 43320). They are comparable in size and age: total assets between €939,000 and €2.2m, founded between 1981 and 2011.
Official details
Source: KBO- Status
- Active since 05-05-1998Normal situation
- Registered office
- 60 active companies are registered at this addressSource: KBO register, as of 9 November 2026.
- Activity
- Joinery installationNACE 43320and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.086.798.6128890 Moorslede, since 22-08-2000
- Financial year end
- 31 December
- Peppol
- Reachable since 03-10-2025
Annual accounts 2025
- €753,647▼ 89.3%
- Employeeson 31-12-2025
- 4▼ 81.0%
- Filing
- Filed on 09-07-2026, 22 days before the end of the filing period
Companies linked to Laminated Timber Solutions
Parent and group
Insights on Laminated Timber Solutions
Laminated Timber Solutions has existed since 1998. Turnover fell from €11.8m in 2012 to €4.2m in 2014 and staff from 41.1 to 11.9 full-time equivalents.
Solvency fell in 2025 from -50.9% to -792.9% because of the loss.
GROEP TERRYN holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Laminated Timber Solutions
- What is the company number of Laminated Timber Solutions?
- The company number of Laminated Timber Solutions is 0463.229.834. The VAT number is the same number with BE in front: BE 0463.229.834.
- Where is Laminated Timber Solutions based?
- The registered office is at Edmond Van Nieuwenhuyselaan 30, 1160 Auderghem.Company details
- What does Laminated Timber Solutions do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of Laminated Timber Solutions?
- Laminated Timber Solutions is a public limited company (NV).
- When was Laminated Timber Solutions founded?
- Laminated Timber Solutions was founded on 05-05-1998.
- Is Laminated Timber Solutions still active?
- Yes, Laminated Timber Solutions is an active enterprise in the KBO register.
- How many employees does Laminated Timber Solutions have?
- Laminated Timber Solutions had an average of 17.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Laminated Timber Solutions fall under?
- In its 2025 annual accounts, Laminated Timber Solutions states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Laminated Timber Solutions?
- The turnover of Laminated Timber Solutions was €13.1m in financial year 2025, according to the filed annual accounts.
- Is Laminated Timber Solutions profitable?
- In financial year 2025, Laminated Timber Solutions made a loss of €2.4m.
- Where can I find the annual accounts of Laminated Timber Solutions?
- Laminated Timber Solutions filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Laminated Timber Solutions due?
- Laminated Timber Solutions must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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