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
20 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
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
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Country Investment
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WINKELCENTRUM ZUIDERRING
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EYE MOTIONS CONSULTING
BE 0473.041.086
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SD HOLDING
BE 0691.781.036
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MOLANCO
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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.