LAZARD
ActiveLAZARD has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.71M and a net result of €-931k. Equity is shrinking by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 21% of 3168 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
17
/ 100
Critical▼ -67 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency25▲+1
Growth38▼-34
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.05 against 1.19 in 2024), and 80.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.1%
Return on assets
-10.4%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 3168 sector peers (2025).
NBB · sector comparisonPosition among 3168 sector peers
Solvency
better than 21%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
97 d early
2023
92 d early
2022
46 d early
2021
25 d early
2020
102 d early
2019
5 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€12.15M▼ 67.5%
2024 · €37.35M
2018: €9.02M
2019: €13.83M
2020: €5.88M
2021: €13.76M
2022: €13.75M
2023: €17.02M
2024: €37.35M
2018 → 2025
EBIT margin
-7.3%▼ 33.2pp
2024 · 25.8%
2018: 34.6%
2019: 20.1%
2020: 13.3%
2021: 37.3%
2022: 19.5%
2023: 15.4%
2024: 25.8%
2018 → 2025
Net result
€-931k
2024 · €7.07M
2018: €2.56M
2019: €1.80M
2020: €515k
2021: €3.79M
2022: €1.95M
2023: €1.94M
2024: €7.07M
2018 → 2025
Working capital
€364k▼ 88.0%
2024 · €3.03M
2018: €3.67M
2019: €3.79M
2020: €4.29M
2021: €4.38M
2022: €2.82M
2023: €1.38M
2024: €3.03M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€13.76M-€13.75M=€17.02M▲ 23.8%€37.35M▲ 119%€12.15M▼ 67.5%
Equity€4.48M-€2.93M▼ 34.6%€1.17M▼ 60.0%€2.64M▲ 125%€1.71M▼ 35.3%
Operating result€5.13M-€2.68M▼ 47.7%€2.63M▼ 1.9%€9.64M▲ 267%€-892k
Net result€3.79M-€1.95M▼ 48.5%€1.94M▼ 0.3%€7.07M▲ 264%€-931k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €892k after €9.64M in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.94M
Fixed assets
€1.36M▼ 1.2%
Current assets
€7.58M▼ 59.4%
Equity and liabilities €8.94M
Equity
€1.71M▼ 35.3%
Provisions
€18k▼ 23.9%
Debt
€7.22M▼ 58.5%
The debt ratio falls from 86.7% to 80.7%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€-722k▼
2024 · €9.70M
Cash flow
€-762k▼
2024 · €7.13M
Solvency
19.1%▲
2024 · 13.2%
Current ratio
1.05▼
2024 · 1.19
Quick ratio
1.05▼
2024 · 1.19
Debt / equity
4.22▼
2024 · 6.59
ROE
-54.5%▼
2024 · 267.8%
ROA
-10.4%▼
2024 · 35.2%
Interest coverage
-11.93▼
2024 · 214.70
Debt
€7.22M▼
2024 · €17.40M
Debt ≤ 1 year
€7.22M▼
2024 · €15.65M
Income taxes
€3k▼
2024 · €2.43M
Staff costs
€3.47M▼
2024 · €3.55M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€20.07M€8.94M▼
Fixed assets21/28€1.38M€1.36M▼
Tangible fixed assets22/27€1.25M€1.28M▲
Furniture and vehicles24€251k€364k▲
Other tangible fixed assets26€998k€913k▼
Financial fixed assets28€130k€86k▼
Other financial fixed assets284/8€130k€86k▼
Amounts receivable and cash guarantees285/8€130k€86k▼
Current assets29/58€18.69M€7.58M▼
Amounts receivable within one year40/41€5.36M€5.12M▼
Trade receivables40€2.72M€3.59M▲
Other amounts receivable41€2.64M€1.54M▼
Cash at bank and in hand54/58€12.78M€2.02M▼
Deferred charges and accrued income490/1€549k€436k▼
Equity and liabilities
Total equity and liabilities10/49€20.07M€8.94M▼
Equity10/15€2.64M€1.71M▼
Contributions10/11€1.00M€1.00M=
Reserves13€100k€100k=
Non-distributable reserves130/1€100k€100k=
Reserves not available under the articles1311€100k€100k=
Profit (loss) carried forward14€1.54M€608k▼
Provisions and deferred taxes16€24k€18k▼
Provisions for liabilities and charges160/5€24k€18k▼
Other liabilities and charges164/5€24k€18k▼
Amounts payable17/49€17.40M€7.22M▼
Amounts payable within one year42/48€15.65M€7.22M▼
Trade debts44€8.24M€6.08M▼
Suppliers440/4€8.24M€6.08M▼
Taxes, remuneration and social security45€1.81M€1.13M▼
Taxes450/3€680k€70k▼
Remuneration and social security454/9€1.13M€1.06M▼
Other amounts payable47/48€5.60M-
Accrued charges and deferred income492/3€1.75M-
Income statement
Code20242025
Operating income70/76A€37.64M€12.15M▼
Turnover70€37.35M€12.15M▼
Other operating income74€287k-
Operating charges60/66A€28.00M€13.04M▼
Services and other goods61€24.35M€8.31M▼
Remuneration, social security and pensions62€3.55M€3.47M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60k€170k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€24k€-6k▼
Other operating charges640/8€709€1.09M▲
Non-recurring operating charges66A€21k-
Operating profit (loss)9901€9.64M€-892k▼
Financial income75/76B€32k€24k▼
Recurring financial income75€32k€24k▼
Income from current assets751€32k€24k▼
Financial charges65/66B€179k€61k▼
Recurring financial charges65€179k€61k▼
Debt charges650€45k-
Other financial charges652/9€134k€61k▼
Profit (loss) for the period before taxes9903€9.50M€-928k▼
Income taxes67/77€2.43M€3k▼
Taxes670/3€2.43M€3k▼
Profit (loss) for the period9904€7.07M€-931k▼
Profit (loss) for the period to be appropriated9905€7.07M€-931k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7.14M€608k▼
Profit (loss) brought forward from the previous period14P€72k€1.54M▲
Profit to be distributed694/7€5.60M-
Return on contributions (dividend)694€5.60M-
Social balance
Average headcount (FTE)908710.012.1▲
The notes to these accounts (40 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-931k ▼113%
Net result drops to €-931k, the lowest in the series.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
31-12
Financial
Highest result since 2018net €7.07M ▲264%
Operating result €9.64M, net result €7.07M, both a record.
31-12
Financial
Equity above €2MEq €2.64M ▲125%
7 profitable years in a row build equity to €2.64M.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
20-04
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema
2020
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 5 days late
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 directors, no change since 2024
Arlima BV
CurrentDirector · since 19-02-2024 · Legal entity
Tom Renders
CurrentCommissaire aux comptes titulaire · since 03-11-2023
Deloitte Réviseurs d'entreprises SCRL
CurrentAuditor · since 20-01-2021 · Legal entity
M. Wouter Gabriëls
CurrentDirector · since 07-08-2019
Susana Gonzalez Melon
Not recently confirmedMandataire · since 19-02-2015
Maurice Vrolix
Not recently confirmedCommissaire aux comptes titulaire · since 28-09-2017
+ 1 not shown in this overview
19-02-2024
Arlima BV: Appointed as Director
19-02-2024
Arlima BV: Appointed as Managing director
19-02-2024
Wouter Gabriëls: Resigned as Director
03-11-2023
Tom Renders: Appointed as Commissaire aux comptes titulaire
17-05-2022
M. Wouter Gabriëls: Appointed as Director
20-01-2021
Deloitte Réviseurs d'entreprises SCRL: Appointed as Auditor
05-02-2020
Susana Gonzalez Melon: Appointed as Mandataire
05-02-2020
Jeremias Berte: Resigned as Gestor unique
07-08-2019
M. Wouter Gabriëls: Appointed as Gérant
18-10-2017
Susana Gonzalez Melon: Appointed as Mandataire
18-10-2017
Jeremias Berte: Appointed as Gestor unique
28-09-2017
Maurice Vrolix: Appointed as Commissaire aux comptes titulaire
28-09-2017
Philip Maeyaert: Resigned as Commissaire aux comptes titulaire
27-10-2016
Wouter Gabriëls: Appointed as Gérant
21-10-2016
Susana Gonzalez Melon: Appointed as Mandataire
21-10-2016
Thierry Le Grelle: Resigned
17-03-2015
Wouter Gabriëls: Appointed as Gérant
17-03-2015
Philip Maeyaert: Appointed as Commissaire aux comptes titulaire
19-02-2015
Susana Gonzalez Melon: Appointed as Mandataire
19-02-2015
Antonio Weiss: Resigned
28-12-2011
Wouter Han: Appointed as Gérant
28-12-2011
Wouter Gabriëls: Appointed as Gérant
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Louizalaan 1491050 ElseneGround area
6,550 m²
Building footprint
4,776 m²
Volume, LiDAR
170,918 m³
2 parcels, Brussels · tallest building 103.3 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 326, 1050 Elsene
since 20082.172.489.697
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0089/00D007 | Brussels | 3,879 m² | 1 · 2,740 m² | 101.4 m · 7 fl. |
| 21807G0178/00E003 | Brussels | 2,671 m² | 1 · 2,036 m² | 103.3 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Structure & network
Group per the LEI register
2 parent companies · 2 fundsParent company:MAISON LAZARD
Ultimate parent:LAZARD, INC.
2 funds in the register
Managed fund:DELA EQUITY FUND 5
Managed fund:DELA FIXED INCOME FUND 5
Recognitions · licences · registrations
Legal Entity Identifier
5493009YO1MGVNTJ0W35
Similar companies · same sector, comparable size
Country Investment
BE 0466.753.310
Hasselt · Eq €1.71M
WINKELCENTRUM ZUIDERRING
BE 0406.843.338
Bilzen-Hoeselt · Eq €1.71M
EYE MOTIONS CONSULTING
BE 0473.041.086
Watermaal-Bosvoorde · Eq €1.71M
SD HOLDING
BE 0691.781.036
Brussel · Eq €1.71M
MOLANCO
BE 0844.711.533
Lanaken · Eq €1.71M
Of 82,218 companies in sector 70200 we hold annual accounts for 52,396. 21,891 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-08-2008
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.