Losses
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
The micro format states no turnover.
Pledge on other assets, new in 2025. 85.3 times equity · not in the 2024 accounts.
The 2023 accounts came latest: 30 days after the end of the period.
Larger balance sheet than 88% of companies in real estate. Sector median €410,827 · 17,182 companies.
The dashed line is the sector median: 0.1% across 6,998 companies (NACE 68, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, small). It does better than 28% of them on solvency, 7% on liquidity, 33% on profitability and 34% on growth.
The bankruptcy probability was computed on 06-11-2026 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 very low class on 30-06-2025, 0.1% 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).
In July 2024, 865 companies had the same profile as LB Constructie BV has now. Each dot stands for 3 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LB Constructie BV itself is lower: 0.1% within 12 months. It rests on far more data about LB Constructie BV than the profile alone.
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 865 companies, not a prediction for LB Constructie BV. 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.
Liquidity is tight, with a current ratio of 1.1 (1.32 in 2024), below the usual 1.5. Short-term debt is 90.6% and cash 3.8% of total assets. 90.6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 3 accounts on average 11 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| LB Constructie BV Tielt | €2.0m | €4,708 | 9.4% | - |
| Bijenhof Middelkerke | €2.9m | €4,264 | -3.8% | 0 |
| WY PROJECTS Waregem | €1.9m | €2,169 | -14.7% | - |
| DMP PROJECTS Wevelgem | €3.2m | €6,466 | 1.2% | - |
| SustainaBuilt Wielsbeke | €1.8m | €8,035 | 33.7% | - |
| RESON Knokke-Heist | €3.5m | €5,020 | 1.0% | - |
| MDLE Waregem | €1.4m | €5,156 | -28.4% | - |
These companies have the same main activity as LB Constructie BV: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €1.4m and €3.5m, founded between 2021 and 2023.
LB Constructie BV files the micro format. That format states no turnover. The gross margin rose from -€2,699 in 2023 to €4,708 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €20,000. Estimated: probably between €9,700 and €62,000.
Higher than 32% of 17,178 companies in 2025.
Higher than 49% of 16,475 companies in 2025.
Higher than 36% of 16,854 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
2.0m | 798,791 | 1.2m | |
29/58 |
2.0m | 798,791 | 1.2m | |
3 |
1.9m | 729,734 | 654,865 | |
30/36 |
1.9m | 729,734 | 654,865 | |
40/41 |
48,237 | 15,723 | 10,840 | |
40 |
27,014 | - | - | |
41 |
21,223 | 15,723 | 10,840 | |
54/58 |
75,697 | 53,334 | 503,563 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
2.0m | 798,791 | 1.2m | |
10/15 |
188,819 | 193,003 | 196,440 | |
10/11 |
200,000 | 200,000 | 200,000 | |
14 |
-11,181 | -6,997 | -3,560 | |
17/49 |
1.8m | 605,789 | 972,828 | |
42/48 |
1.8m | 605,789 | 967,955 | |
43 |
350,000 | 350,000 | 350,000 | |
430/8 |
350,000 | 350,000 | 350,000 | |
44 |
4,328 | 789 | 315,455 | |
440/4 |
4,328 | 789 | 315,455 | |
46 |
463,715 | - | - | |
47/48 |
1.0m | 255,000 | 302,500 | |
492/3 |
- | 0 | 4,873 | |
| Income statement | ||||
9900 |
4,708 | -2,524 | -2,699 | |
640/8 |
1,126 | 513 | 732 | |
9901 |
3,581 | -3,038 | -3,431 | |
75/76B |
- | 0 | 1,141 | |
75 |
- | 0 | 1,141 | |
65/66B |
7,765 | 400 | 1,270 | |
65 |
7,765 | 400 | 1,270 | |
9903 |
-4,184 | -3,438 | -3,560 | |
9904 |
-4,184 | -3,438 | -3,560 | |
9905 |
-4,184 | -3,438 | -3,560 | |
| Appropriation of the result | ||||
9906 |
-11,181 | -6,997 | -3,560 | |
14P |
-6,997 | -3,560 | - | |
| Document | ||||
The notes to these accounts have 5 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 17-08-2026.
2025 annual accounts filed 17 days after the deadline. Filed on 17 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00423064.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 22,363 | -450,229 | - | ||
| 188,819 | 193,003 | 201,313 | ||
| 9.4% | 24.2% | 16.8% | ||
| 1.10 | 1.32 | 1.21 | ||
| 0.07 | 0.11 | 0.53 | ||
| 9.65 | 3.14 | 4.95 | ||
| -2.2% | -1.8% | -1.8% | ||
| -0.2% | -0.4% | -0.3% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| €5.8m | - | - | |
| Carrying value of the mortgaged assets | €1.9m | - | - |
| Pledge on other assets, amount secured | €16.1m | - | - |
| Carrying value of the other pledged assets | €1.9m | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
The operating result for 2025 is a profit of €3,581, after a loss of €3,038 in 2024. It is the highest result since 2023.
Debt's share of the balance-sheet total rises from 75.8% to 90.6%. Equity is lower and debt is higher.
Source: lists of holdings in the owners' accounts
LB Constructie BV has no parent and no holdings in its annual accounts.
| LAFAUT GRONDPROJECTEN
registered office since 27-10-2005 · founded in 2005 |
2 FTE (2026) 0876.734.696 |
| LAFAUT PROJECTS
registered office since 05-03-2010 · founded in 2010 |
total assets €14.7m (2025) 0823.815.555 |
| FLORAS
registered office since 09-04-2024 · founded in 2024 |
total assets €2.1m (2025) 1008.215.426 |
| IMMO BY KAROLIEN LAFAUT
registered office since 30-04-2020 · founded in 2020 |
total assets €257,454 (2025) 0746.607.515 |
| TM Lafaut-Boone
registered office since 08-05-2023 |
founded in 2023 0805.088.023 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Velodroomstraat 57A registered office 8700 Tielt | 25-08-2022 | 2.336.312.009 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 37015K0408/00S002 | 2,185 m² | 1 · 1,261 m² | 5.9 m |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0789.959.189
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