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LAMMERTYN CONSTRUCT

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Private limited companyfounded 2019active for 7 yearsOostlaan 11, 8850 Ardooie, BelgiumKBO/BCE: BE 0721.604.081

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 20-07-2026 at the NBB all 7 filings

Turnover
≈ €1.9m
Estimated: probably between €1.3m and €3.2m
Total assets
€2.3m▲ 12.5%
2024 · €2.0m
Net result
€73,656▼ 10.5%
2024 · €82,320
Working capital
€975,764▲ 0.5%
2024 · €971,234
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result for 2025 is 12% lower than in 2024 and the lowest since 2021. It is the second fall in a row.

Operating result€0.1m 2025 Net result€0.07m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.09m▼ 24.6%€0.1m▲ 36.7%€0.2m▲ 67.6%€0.2m▲ 12.4%€0.1m▼ 40.7%€0.1m▼ 12.3%
Net result€0.1m-€0.07mwithin the sector's middle half▼ 33.2%€0.07mwithin the sector's middle half▼ 2.5%€0.1mwithin the sector's middle half▲ 121%€0.1mwithin the sector's middle half▲ 1.1%€0.08mwithin the sector's middle half▼ 43.6%€0.07mwithin the sector's middle half▼ 10.5%
Equity€0.4m-€0.5mwithin the sector's middle half▲ 3.9%€0.5mwithin the sector's middle half▲ 3.4%€0.6mwithin the sector's middle half▲ 19.9%€0.6mwithin the sector's middle half▲ 12.5%€0.6mwithin the sector's middle half▲ 1.1%€0.6mwithin the sector's middle half▼ 0.2%
Total assets€2.2m-€2.5mabove the sector's middle half▲ 14.3%€2.8mabove the sector's middle half▲ 11.0%€3.0mabove the sector's middle half▲ 7.7%€2.6mwithin the sector's middle half▼ 14.7%€2.0mwithin the sector's middle half▼ 20.9%€2.3mwithin the sector's middle half▲ 12.5%
Debt€1.7m-€2.0m▲ 17.0%€2.3m▲ 12.7%€2.4m▲ 5.2%€1.9m▼ 21.3%€1.4m▼ 28.3%€1.6m▲ 18.6%
Working capital€0.5m-€0.5mwithin the sector's middle half▼ 12.9%€1.0mabove the sector's middle half▲ 108%€1.1mabove the sector's middle half▲ 19.0%€1.0mabove the sector's middle half▼ 9.8%€1.0mabove the sector's middle half▼ 4.8%€1.0mabove the sector's middle half▲ 0.5%
Solvency20.2%-18.3%below the sector's middle half▼ 1.9pp17.1%below the sector's middle half▼ 1.3pp19.0%below the sector's middle half▲ 1.9pp25.1%below the sector's middle half▲ 6.1pp32.1%within the sector's middle half▲ 7.0pp28.4%within the sector's middle half▼ 3.6pp
Current ratio1.50-1.34within the sector's middle half▼ 0.161.79within the sector's middle half▲ 0.451.81within the sector's middle half▲ 0.021.87within the sector's middle half▲ 0.062.23within the sector's middle half▲ 0.361.91within the sector's middle half▼ 0.32
Return on assets (ROA)4.6%-2.7%within the sector's middle half▼ 1.9pp2.4%within the sector's middle half▼ 0.3pp4.8%within the sector's middle half▲ 2.5pp5.7%within the sector's middle half▲ 0.9pp4.1%within the sector's middle half▼ 1.6pp3.2%within the sector's middle half▼ 0.8pp
Staff (FTE)8.3-15.7above the sector's middle half▲ 89.2%17above the sector's middle half▲ 8.3%16.3above the sector's middle half▼ 4.1%16.4above the sector's middle half▲ 0.6%14above the sector's middle half▼ 14.6%12.6above the sector's middle half▼ 10.0%
above within below The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). 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.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets €221,837 ▼ 13.5%
Current assets €2.0m ▲ 16.3%
Equity and liabilities €2.3m
Equity €645,484 ▼ 0.2%
Provisions €2,795 ▼ 26.4%
Debt €1.6m ▲ 18.6%
Debt's share of the balance-sheet total rises from 67.8% to 71.4%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€287,310▼
2024 · €298,200
Cash flow
€238,316▼
2024 · €240,702
Quick ratio
0.93▼
2024 · 1.23
Debt to equity
2.51▲
2024 · 2.11
ROE
11.4%▼
2024 · 12.7%
Interest coverage
8.27▼
2024 · 8.53
Debt ≤ 1 year
€1.1m▲
2024 · €790,047
Debt > 1 year
€201,847▼
2024 · €277,816
Income taxes
€19,263▼
2024 · €28,744
Staff costs
€827,545▼
2024 · €875,865
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1917171614
full-time1614141211
part-time33343
in full-time equivalents17.715.715.81411.8
Average over the year, in full-time equivalents1716.316.41412.6
On a permanent contract1916151412
Joined64861074310
Left62881074412

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Debts secured on the company's own assets€781,110€553,681€408,742€426,011€354,613
Pledge on the business€705,670€705,670€705,670€705,670€705,670
Mandates to pledge the business€680,920€680,920€680,920€680,920€680,920

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€98,810€35,370€54,979€52,365€131,714
Depreciation and write-downs of the year€183,837€186,046€164,381€158,381€164,660

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2025 · 6 entries · €10,625 awarded · €9,254 paid
Year Entries AwardedPaid
2025 2 €6,347€4,976
2024 1 €1,899€1,899
2023 2 €1,059€1,059
2022 1 €1,320€1,320
Schemes
4 entries · €8,791 · €7,420 paid · Fonds voor Innoveren en Ondernemen
2 entries · €1,834 · €1,834 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 65 lines
Balance sheet Code20242025
Assets
Total assets20/58€2.0m€2.3m▲
Fixed assets21/28€0.3m€0.2m▼
Tangible fixed assets22/27€0.3m€0.2m▼
Land and buildings22€0.01m€0.03m▲
Plant, machinery and equipment23€0.2m€0.08m▼
Furniture and vehicles24€0.04m€0.1m▲
Leasing and similar rights25€0.02m€0.006m▼
Other tangible fixed assets26€0.004m€0.002m▼
Current assets29/58€1.8m€2.0m▲
Stocks and contracts in progress3€0.8m€1.1m▲
Stocks30/36€0.7m€0.8m▲
Contracts in progress37€0.1m€0.3m▲
Amounts receivable within one year40/41€0.8m€0.9m▲
Trade receivables40€0.4m€0.5m▲
Other amounts receivable41€0.4m€0.4m▲
Cash at bank and in hand54/58€0.2m€0.1m▼
Deferred charges and accrued income490/1€0.007m€0.005m▼
Equity and liabilities
Total equity and liabilities10/49€2.0m€2.3m▲
Equity10/15€0.6m€0.6m▼
Contributions10/11€0.3m€0.3m=
Reserves13€0.06m€0.06m▼
Tax-exempt reserves132€0.01m€0.008m▼
Distributable reserves133€0.05m€0.05m=
Profit (loss) carried forward14€0.3m€0.3m▲
Provisions and deferred taxes16€0.004m€0.003m▼
Deferred taxes168€0.004m€0.003m▼
Amounts payable17/49€1.4m€1.6m▲
Amounts payable after more than one year17€0.3m€0.2m▼
Financial debts170/4€0.3m€0.2m▼
Amounts payable within one year42/48€0.8m€1.1m▲
Current portion of amounts payable after more than one year42€0.1m€0.2m▲
Financial debts43€0.1m€0.3m▲
Credit institutions430/8€0.1m€0.3m▲
Trade debts44€0.3m€0.2m▼
Suppliers440/4€0.3m€0.2m▼
Taxes, remuneration and social security45€0.08m€0.1m▲
Taxes450/3€0.01m€0.02m▲
Remuneration and social security454/9€0.07m€0.1m▲
Other amounts payable47/48€0.2m€0.3m▲
Accrued charges and deferred income492/3€0.3m€0.3m▲
Income statement Code20242025
Non-recurring operating income76A€0€0.01m▲
Remuneration, social security and pensions62€0.9m€0.8m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.2m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€0.006m€0.005m▼
Gross operating margin9900€1.2m€1.1m▼
Operating profit (loss)9901€0.1m€0.1m▼
Financial income75/76B€0.005m€0.004m▼
Recurring financial income75€0.005m€0.004m▼
Financial charges65/66B€0.03m€0.03m▼
Recurring financial charges65€0.03m€0.03m▼
Profit (loss) for the period before taxes9903€0.1m€0.09m▼
Transfer from deferred taxes780€0.001m€0.001m=
Transfer to deferred taxes680€0-
Income taxes67/77€0.03m€0.02m▼
Profit (loss) for the period9904€0.08m€0.07m▼
Transfer from tax-exempt reserves789€0.003m€0.003m=
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€0.09m€0.08m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.3m▲
Profit (loss) brought forward from the previous period14P€0.2m€0.3m▲
Profit to be distributed694/7€0.08m€0.08m=
Return on contributions (dividend)694€0.03m€0.03m=
Directors or managers695€0.05m€0.05m=
Social balance sheet
Average headcount (FTE)908714.012.6▼

The notes to these accounts have 20 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 20-07-2026.

Line2019202020212022202320242025Change
Non-recurring operating income76A€0.03m-€0-€0.04m€0€0.01m-
Remuneration, social security and pensions62€0.7m-€0.9m€0.9m€1.0m€0.9m€0.8m▼ 5.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m▲ 4.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€0.06m€0--
Other operating charges640/8€0.007m-€0.005m€0.008m€0.006m€0.006m€0.005m▼ 13.6%
Gross operating margin9900€1.0m€1.1m€1.2m€1.3m€1.4m€1.2m€1.1m▼ 5.1%
Operating profit (loss)9901€0.1m€0.09m€0.1m€0.2m€0.2m€0.1m€0.1m▼ 12.3%
Financial income75/76B€0.01m-€0.01m€0.01m€0.004m€0.005m€0.004m▼ 22.9%
Recurring financial income75€0.01m€0.02m€0.01m€0.01m€0.004m€0.005m€0.004m▼ 22.9%
Financial charges65/66B€0.03m-€0.04m€0.03m€0.04m€0.03m€0.03m▼ 0.6%
Recurring financial charges65€0.03m€0.02m€0.04m€0.03m€0.04m€0.03m€0.03m▼ 0.6%
Profit (loss) for the period before taxes9903€0.1m€0.09m€0.1m€0.2m€0.2m€0.1m€0.09m▼ 16.5%
Transfer from deferred taxes780----€205€0.001m€0.001m=
Transfer to deferred taxes680----€0.005m€0--
Income taxes67/77€0.001m€0.02m€0.03m€0.05m€0.05m€0.03m€0.02m▼ 33.0%
Profit (loss) for the period9904€0.1m€0.07m€0.07m€0.1m€0.1m€0.08m€0.07m▼ 10.5%
Transfer from tax-exempt reserves789----€0.001m€0.003m€0.003m=
Transfer to tax-exempt reserves689----€0.02m€0--
Profit (loss) for the period to be appropriated9905€0.1m€0.07m€0.07m€0.1m€0.1m€0.09m€0.08m▼ 10.2%
Line2019202020212022202320242025Change
Assets
Total assets20/58€2.2m€2.5m€2.8m€3.0m€2.6m€2.0m€2.3m▲ 12.5%
Fixed assets21/28€0.6m€0.7m€0.6m€0.5m€0.4m€0.3m€0.2m▼ 13.5%
Tangible fixed assets22/27€0.6m€0.7m€0.6m€0.5m€0.4m€0.3m€0.2m▼ 13.5%
Land and buildings22€0.03m-€0.03m€0.02m€0.02m€0.01m€0.03m▲ 77.8%
Plant, machinery and equipment23€0.5m-€0.4m€0.3m€0.2m€0.2m€0.08m▼ 56.8%
Furniture and vehicles24€0.09m-€0.1m€0.06m€0.07m€0.04m€0.1m▲ 154%
Leasing and similar rights25€0.005m-€0.05m€0.04m€0.03m€0.02m€0.006m▼ 60.6%
Other tangible fixed assets26--€0.009m€0.007m€0.006m€0.004m€0.002m▼ 43.8%
Current assets29/58€1.6m€1.8m€2.2m€2.5m€2.2m€1.8m€2.0m▲ 16.3%
Stocks and contracts in progress3€0.2m€0.2m€0.9m€1.0m€0.7m€0.8m€1.1m▲ 33.9%
Stocks30/36€0.2m-€0.8m€0.8m€0.6m€0.7m€0.8m▲ 12.8%
Contracts in progress37€0.02m-€0.1m€0.3m€0.1m€0.1m€0.3m▲ 171%
Amounts receivable within one year40/41€1.2m€1.4m€1.1m€1.2m€1.5m€0.8m€0.9m▲ 11.5%
Trade receivables40€0.8m-€0.9m€0.9m€1.0m€0.4m€0.5m▲ 19.4%
Other amounts receivable41€0.4m-€0.3m€0.3m€0.4m€0.4m€0.4m▲ 3.0%
Cash at bank and in hand54/58€0.2m€0.1m€0.07m€0.2m€0.02m€0.2m€0.1m▼ 40.1%
Deferred charges and accrued income490/1€0.01m-€0.02m€0.01m€0.005m€0.007m€0.005m▼ 21.8%
Equity and liabilities
Total equity and liabilities10/49€2.2m€2.5m€2.8m€3.0m€2.6m€2.0m€2.3m▲ 12.5%
Equity10/15€0.4m€0.5m€0.5m€0.6m€0.6m€0.6m€0.6m▼ 0.2%
Contributions10/11--€0.3m€0.3m€0.3m€0.3m€0.3m=
Contributions outside capital11€0.3m-------
Reserves13€0.05m€0.05m€0.05m€0.05m€0.07m€0.06m€0.06m▼ 4.7%
Reserves not available under the articles1311€0.02m-------
Tax-exempt reserves132€113-€113€113€0.01m€0.01m€0.008m▼ 26.1%
Distributable reserves133€0.03m-€0.05m€0.05m€0.05m€0.05m€0.05m=
Profit (loss) carried forward14€0.06m€0.08m€0.1m€0.2m€0.2m€0.3m€0.3m▲ 0.6%
Provisions and deferred taxes16----€0.005m€0.004m€0.003m▼ 26.4%
Deferred taxes168----€0.005m€0.004m€0.003m▼ 26.4%
Amounts payable17/49€1.7m€2.0m€2.3m€2.4m€1.9m€1.4m€1.6m▲ 18.6%
Amounts payable after more than one year17€0.7m€0.7m€0.6m€0.4m€0.3m€0.3m€0.2m▼ 27.3%
Financial debts170/4€0.7m-€0.6m€0.4m€0.3m€0.3m€0.2m▼ 27.3%
Amounts payable within one year42/48€1.1m€1.3m€1.2m€1.4m€1.2m€0.8m€1.1m▲ 35.7%
Current portion of amounts payable after more than one year42€0.2m-€0.2m€0.2m€0.1m€0.1m€0.2m▲ 3.1%
Financial debts43€0.4m-€0.4m€0.5m€0.4m€0.1m€0.3m▲ 168%
Credit institutions430/8€0.4m-€0.4m€0.5m€0.4m€0.1m€0.3m▲ 168%
Trade debts44€0.3m€0.5m€0.4m€0.5m€0.4m€0.3m€0.2m▼ 12.4%
Suppliers440/4€0.3m-€0.4m€0.5m€0.4m€0.3m€0.2m▼ 12.4%
Taxes, remuneration and social security45€0.09m-€0.1m€0.1m€0.1m€0.08m€0.1m▲ 51.3%
Taxes450/3€0.02m-€0.03m€0.07m€0.05m€0.01m€0.02m▲ 26.4%
Remuneration and social security454/9€0.07m-€0.09m€0.07m€0.09m€0.07m€0.1m▲ 56.4%
Other amounts payable47/48€0.05m-€0.1m€0.1m€0.2m€0.2m€0.3m▲ 50.4%
Accrued charges and deferred income492/3€0.008m-€0.5m€0.7m€0.5m€0.3m€0.3m▲ 16.1%
Line2019202020212022202320242025Change
Profit (loss) for the period9904€100,321€67,057€65,378€144,324€145,955€82,320€73,656▼ 10.5%
+ Depreciation and write-downs630€175,566€167,979€183,837€186,046€164,381€158,381€164,660▲ 4.0%
Operating cash flow (approximation)€275,887€235,036€249,215€330,370€310,337€240,702€238,316▼ 1.0%
Investment in fixed assets (approximation)--€263,755-€98,810-€35,370-€54,979-€52,365-€129,963▼ 148%
Change in cash--€49,598-€30,499€163,445-€212,488€149,812-€69,635-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 2,372 companies had the same profile as LAMMERTYN CONSTRUCT has now. Two years later, 1.8% had gone bankrupt and 96.6% were still going.

  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.8% went bankrupt
1.4% stopped otherwise
96.6% was still going

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of LAMMERTYN CONSTRUCT itself: 0.8% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 2,372 companies, not a prediction for LAMMERTYN CONSTRUCT. 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.

Filings with the National Bank (7)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 20-07-2026 2026-00311443 PDF
31-12-2024 abbreviated format 16-07-2025 2025-00277761 PDF
31-12-2023 abbreviated format 11-07-2024 2024-00237414 PDF
31-12-2022 abbreviated format 21-06-2023 2023-00148145 PDF
31-12-2021 abbreviated format 22-07-2022 2022-20213357 PDF
31-12-2020 abbreviated format 01-07-2021 2021-28900017 PDF
31-12-2019 abbreviated format 26-06-2020 2020-21900402 PDF

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