LANCEO
ActiveFrom the official registers: KBO 15 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
LANCEO has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €252,857 and a net result of €39,841. Equity has been growing by about 7.9% per year since 2018. Its solvency ranks better than 84% of 75 sector peers (NACE 21, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 08-04-2011 Normal situation
- Activity
- Manufacture of basic pharmaceutical products and pharmaceutical preparations NACE 21100and 1 other
- Establishment unit
- 2.199.826.277 2290 Vorselaar, since 08-04-2011
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €63,117
- ▲ 13.4%
- Turnover
- ≈ €190,000
- estimated
- Profit
- €39,841
- ▲ 23.3%
- Equity
- €252,857
- ▲ 18.7%
- Total assets
- €291,955
- ▲ 16.8%
Score breakdownlowers riskLiquidity: current ratio 7.39, cash €52,429Founded in 2011Equity €252,857 (86.6% of total assets)Figures for financial year 2025 (filed on 02-09-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 21, micro). It does better than 90% of them on solvency, 72% on liquidity, 79% on profitability and 73% on growth.
The bankruptcy probability was computed on 31-10-2026 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
The company filed its last 7 accounts on average 49 days after the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00489055.
Annual accounts 2025 filed on 30-08-2026 at the NBB all 15 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 19% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
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 basic pharmaceutical products and pharmaceutical preparations (NACE 21). 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 and return on assets (ROA).
Comparable companies
These companies have the same main activity as LANCEO: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21100). They are comparable in size and age: total assets between €158,000 and €582,000, founded between 2005 and 2014.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| LANCEO Vorselaar | 2011 | €291,955 | €252,857 | €63,117 | €39,841 | - | 2025 |
| CLARETHIS Soignies | 2008 | €172,781 | €85,683 | €61,781 | -€27,994 | - | 2025 |
| YARO PRECLINICAL CONSULTING Turnhout | 2008 | €158,481 | €157,418 | €18,022 | €7,591 | - | 2025 |
| Asclepia MedChem Solutions Destelbergen | 2009 | €360,741 | €284,957 | €206,845 | €130,178 | - | 2025 |
| Joos Clinical Projects Destelbergen | 2009 | €549,074 | €519,440 | €125,355 | €72,838 | - | 2025 |
| PHARMACIE DES PAGODES Genappe | 2005 | €383,064 | €11,549 | €152,066 | €2,425 | 1.6 | 2025 |
| D2S Pharma Oudenaarde | 2014 | €582,318 | €424,697 | €129,195 | €38,474 | 0.5 | 2025 |
They were chosen from the 112 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 34,693 companies had the same profile as LANCEO has now. Two years later, 0.7% had gone bankrupt and 95.3% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of LANCEO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 34,693 companies, not a prediction for LANCEO. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,412 | €4,982 | €4,982 | €5,329 | €9,277 | €11,149 | €9,589 | €8,798 | ▼ 8.3% |
| Other operating charges640/8 | - | - | - | €651 | €657 | €720 | €741 | €364 | ▼ 50.9% |
| Non-recurring operating charges66A | - | - | - | - | €62 | - | - | - | - |
| Gross operating margin9900 | €37,253 | €21,430 | €46,542 | €60,447 | €39,258 | €36,242 | €55,644 | €63,117 | ▲ 13.4% |
| Operating profit (loss)9901 | €32,216 | €15,817 | €40,912 | €54,467 | €29,262 | €24,372 | €45,313 | €53,955 | ▲ 19.1% |
| Financial income75/76B | - | - | - | - | €800 | €329 | €918 | €2,224 | ▲ 142% |
| Recurring financial income75 | - | - | - | - | €800 | €329 | €918 | €2,224 | ▲ 142% |
| Non-recurring financial income76B | - | - | - | - | €800 | - | - | - | - |
| Financial charges65/66B | - | - | - | €562 | €243 | €699 | €527 | €225 | ▼ 57.3% |
| Recurring financial charges65 | €160 | €211 | €283 | €450 | €243 | €699 | €424 | €225 | ▼ 46.9% |
| Non-recurring financial charges66B | - | - | - | €112 | - | - | €103 | - | - |
| Profit (loss) for the period before taxes9903 | €31,864 | €16,209 | €40,423 | €53,905 | €29,819 | €24,003 | €45,704 | €55,954 | ▲ 22.4% |
| Income taxes67/77 | €8,802 | €5,213 | €12,038 | €25,404 | €8,478 | €7,321 | €13,387 | €16,112 | ▲ 20.4% |
| Profit (loss) for the period9904 | €23,063 | €10,995 | €28,385 | €28,501 | €21,342 | €16,682 | €32,317 | €39,841 | ▲ 23.3% |
| Transfer from tax-exempt reserves789 | - | - | - | €42,375 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23,063 | €10,995 | €28,385 | €70,876 | €21,342 | €16,682 | €32,317 | €39,841 | ▲ 23.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €163,168 | €176,514 | €215,945 | €264,744 | €231,050 | €228,900 | €249,869 | €291,955 | ▲ 16.8% |
| Fixed assets21/28 | €20,443 | €17,568 | €12,585 | €11,707 | €32,422 | €21,273 | €11,684 | €2,886 | ▼ 75.3% |
| Tangible fixed assets22/27 | €20,443 | €17,568 | €12,585 | €11,707 | €32,422 | €21,273 | €11,684 | €2,886 | ▼ 75.3% |
| Plant, machinery and equipment23 | - | - | - | €4,104 | €3,214 | €2,324 | €1,434 | €544 | ▼ 62.1% |
| Furniture and vehicles24 | - | - | - | - | €24,837 | €17,338 | €9,840 | €2,342 | ▼ 76.2% |
| Other tangible fixed assets26 | - | - | - | €7,603 | €4,372 | €1,611 | €410 | - | - |
| Current assets29/58 | €142,725 | €158,947 | €203,359 | €253,038 | €198,628 | €207,627 | €238,185 | €289,069 | ▲ 21.4% |
| Amounts receivable within one year40/41 | €42,822 | €37,007 | €42,756 | €44,668 | €14,857 | €19,417 | €21,055 | €62,490 | ▲ 197% |
| Trade receivables40 | - | - | - | €44,668 | €13,335 | €16,639 | €18,106 | €62,319 | ▲ 244% |
| Other amounts receivable41 | - | - | - | - | €1,522 | €2,778 | €2,949 | €171 | ▼ 94.2% |
| Current investments50/53 | €84,714 | €106,714 | €126,714 | €126,714 | €95,836 | €96,066 | €161,709 | €163,266 | ▲ 1.0% |
| Cash at bank and in hand54/58 | €14,215 | €13,835 | €31,490 | €80,556 | €87,546 | €91,474 | €54,660 | €52,429 | ▼ 4.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,100 | €389 | €670 | €760 | €10,884 | ▲ 14× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €163,168 | €176,514 | €215,945 | €264,744 | €231,050 | €228,900 | €249,869 | €291,955 | ▲ 16.8% |
| Equity10/15 | €139,118 | €150,114 | €178,499 | €174,496 | €195,838 | €203,761 | €213,016 | €252,857 | ▲ 18.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €132,918 | €143,914 | €172,299 | €168,296 | €189,638 | €197,561 | €206,816 | €246,657 | ▲ 19.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €166,436 | €187,778 | €197,561 | €206,816 | €246,657 | ▲ 19.3% |
| Amounts payable17/49 | €24,050 | €26,401 | €37,446 | €90,248 | €35,212 | €25,139 | €36,853 | €39,098 | ▲ 6.1% |
| Amounts payable within one year42/48 | €24,050 | €26,401 | €37,446 | €90,248 | €35,212 | €25,139 | €36,853 | €39,098 | ▲ 6.1% |
| Trade debts44 | €3,037 | €4,028 | €796 | €4,260 | €4,673 | €1,948 | €5,008 | €4,379 | ▼ 12.6% |
| Suppliers440/4 | - | - | - | €4,260 | €4,673 | €1,948 | €5,008 | €4,379 | ▼ 12.6% |
| Taxes, remuneration and social security45 | - | - | - | €48,615 | €28,874 | €20,917 | €27,744 | €31,793 | ▲ 14.6% |
| Taxes450/3 | - | - | - | €48,615 | €28,874 | €20,917 | €27,744 | €31,793 | ▲ 14.6% |
| Other amounts payable47/48 | - | - | - | €37,373 | €1,666 | €2,275 | €4,101 | €2,925 | ▼ 28.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,063 | €10,995 | €28,385 | €28,501 | €21,342 | €16,682 | €32,317 | €39,841 | ▲ 23.3% |
| + Depreciation and write-downs630 | €4,412 | €4,982 | €4,982 | €5,329 | €9,277 | €11,149 | €9,589 | €8,798 | ▼ 8.3% |
| Operating cash flow (approximation) | €27,474 | €15,978 | €33,367 | €33,830 | €30,619 | €27,831 | €41,907 | €48,640 | ▲ 16.1% |
| Investment in fixed assets (approximation) | - | -€2,107 | €0 | -€4,450 | -€29,993 | €0 | €0 | €0 | - |
| Change in cash | - | -€380 | €17,655 | €49,066 | €6,990 | €3,928 | -€36,814 | -€2,231 | ▲ 93.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00489055 | NBB |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00473930 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00430725 | |
| 31-12-2022 | micro format | 21-07-2023 | 2023-00260488 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20354717 | |
| 31-12-2020 | micro format | 27-12-2021 | 2021-81900343 | |
| 31-12-2019 | abbreviated format | 28-10-2020 | 2020-64600009 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-57500218 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-57100055 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-56900393 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 28-12-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Gunther Coenen |
|
| Ursula Reijnen |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Duur van bestaan, 1”“Algemene kosten, algemene vergadering”
Capital, shares and profit
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Ten minste vijftien dagen vanaf openstelling intekening, naar evenredigheid aantal aandelen”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Vereist voor statutenwijziging, algemene vergadering”“Netto-actief dreigt negatief te worden of is geworden ten gevolge geleden verlies, bestuursorgaan stelt vast dat niet langer vaststaat dat…”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Krachtens deze statuten, één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen”
Articles of association, deed of 28-12-2023 (in Dutch)
Network & group
LANCEO shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of LANCEO. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
28-12
Gazette deed
Resignations: Gunther Coenen (director) and Ursula Reijnen (director)Reappointments: Gunther Coenen (director) and Ursula Reijnen (director) · Amendment of the articles · Capital conversion15 points ▸
- General meeting, 12-12-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van statutenwijziging, opheffing” (deed in Dutch)
- Purpose change
- Other provision, “invoering schriftelijke en elektronische algemene vergadering, éénparigheid van stemmen” (deed in Dutch)
- Other provision, “mogelijkheid uitkering interimdividenden, éénparigheid van stemmen” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Director resignation, Gunther Coenen (director)
- Director discharge, Gunther Coenen
- Director resignation, Ursula Reijnen (director)
- Director discharge, Ursula Reijnen
- The act holds 3 more points.
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202520 activities
- Dienstverlening binnen de farmaceutische sector,biotechindustrie,voedingsindustrie en andere industrieën,zoals:procesengineering en projectmanagement voor bestaande en nieuwe installaties en processen;het uitvoeren van kwalificatie- en validatieoefeningen;het uitvoeren van audits met betrekking tot GMP-regelgeving en technische en compliance staat systemen en het organiseren en uitvoeren van trainingen
- Alle activiteiten van dienstverlening inzake sales en marketing
- Alle activiteiten met betrekking tot consulting
- Alle activiteiten met betrekking tot klantenwerving en prospectie voor ondernemingen
- Alle activiteiten met betrekking tot het ontwerpen en onderhouden van websites
- Het ontwerpen en produceren van tuinmeubelen
- De klein- en groothandel in tuinmeubelen
- Het ontwerpen en produceren van alle soorten textielproducten
- De klein- en groothandel in alle soorten textielproducten
- De klein- en groothandel in audio-,video- en domotica installaties
- De installatie van audio-,video- en domotica installaties
- Het verschaffen van alle soorten logies voor kortstondig verblijf
- Het uitbaten van alle soorten accommodaties voor kortstondig verblijf
- Het uitbaten van een opleidingscentrum met accommodatie voor kortstondig verblijf
- Het uitbaten van een multifunctionele ruimte voor seminarie,meetings,incentives,events
- Het leveren van dranken en etenswaren in het kader van de uitbating van een accommodatie voor kortstondig verblijf en een opleidingscentrum
- Het verlenen van managementdiensten
- Hetzij voor eigen rekening,hetzij voor rekening van derden of bij deelneming,hetzij op gelijk welke andere wijze,in België of in het buitenland het doen van alle onroerende verrichtingen in de meest uitgebreide zin,inbegrepen de verhandeling,huur en verhuur en beheer van handelszaken,alsook de aankoop,verkoop,ruil,verkaveling,het laten bouwen,aanpassen,veranderen,inrichten,bebossingen en ontbossingen,het huren of verhuren van alle onroerende goederen,pachten en verpachten en vestigen van erfdienstbaarheden,het beheer ervan alsmede het uitvoeren van alle openbare en privatieve werken,alsmede onroerende leasing,alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn om de opbrengst van haar onroerende goederen te bevorderen,zoals het onderhoud,de ontwikkeling,de verfraaiing en de verhuring van deze goederen,alsmede borgstelling voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen
- Het kopen en verkopen,beheren enzovoort van alle roerende goederen en waarden,het beleggen en investeren van gelden en waarden
- Het huren en verhuren van alle roerende goederen
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13044D0228/00E000 | Flanders | 6,594 m² | 1 · 158 m² | 10.3 m · 2 |