LB Management
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 6 filings
Every figure per financial year
The operating result for 2025 is a loss of €27,969, after a profit of €4,136 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €49,477 | - | €659 |
| Depreciation and write-downs of the year | €4,068 | €5,400 | €7,867 | €9,895 | €9,901 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €13,209 | €30,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,740 | €4,068 | €5,400 | €7,867 | €9,895 | €9,901 | ▲ 0.1% |
| Other operating charges640/8 | - | €823 | €922 | €471 | €685 | €674 | ▼ 1.6% |
| Gross operating margin9900 | €40,475 | €24,740 | €81,589 | €90,229 | €14,716 | -€17,394 | - |
| Operating profit (loss)9901 | €33,794 | €19,848 | €75,268 | €81,892 | €4,136 | -€27,969 | - |
| Financial income75/76B | - | €238 | €428 | €188 | €373 | €863 | ▲ 131% |
| Recurring financial income75 | €295 | €238 | €428 | €188 | €373 | €863 | ▲ 131% |
| Financial charges65/66B | - | €2,823 | €3,457 | €3,657 | €3,399 | €222 | ▼ 93.5% |
| Recurring financial charges65 | €4,421 | €2,823 | €3,457 | €3,657 | €3,399 | €222 | ▼ 93.5% |
| Profit (loss) for the period before taxes9903 | €29,668 | €17,263 | €72,238 | €78,423 | €1,110 | -€27,329 | - |
| Income taxes67/77 | €6,090 | €5,425 | €19,779 | €24,224 | €142 | €132 | ▼ 6.8% |
| Profit (loss) for the period9904 | €23,578 | €11,838 | €52,459 | €54,199 | €969 | -€27,461 | - |
| Profit (loss) for the period to be appropriated9905 | €23,578 | €11,838 | €52,459 | €54,199 | €969 | -€27,461 | - |
| Line | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €379,524 | €298,499 | €310,907 | €318,583 | €154,320 | €122,823 | ▼ 20.4% |
| Fixed assets21/28 | €291,260 | €287,191 | €281,791 | €311,610 | €31,715 | €22,473 | ▼ 29.1% |
| Tangible fixed assets22/27 | €21,260 | €17,191 | €11,791 | €41,610 | €31,715 | €22,473 | ▼ 29.1% |
| Furniture and vehicles24 | - | €17,191 | €11,791 | €41,610 | €31,715 | €22,473 | ▼ 29.1% |
| Financial fixed assets28 | €270,000 | €270,000 | €270,000 | €270,000 | €0 | - | - |
| Current assets29/58 | €88,264 | €11,308 | €29,115 | €6,972 | €122,605 | €100,350 | ▼ 18.2% |
| Amounts receivable within one year40/41 | €87,072 | €3,967 | €24,750 | €5,604 | €60,777 | €1,324 | ▼ 97.8% |
| Trade receivables40 | - | €0 | €22,500 | €2,000 | €0 | €1,197 | - |
| Other amounts receivable41 | - | €3,967 | €2,250 | €3,604 | €60,777 | €127 | ▼ 99.8% |
| Current investments50/53 | - | - | - | - | - | €90,604 | - |
| Cash at bank and in hand54/58 | €756 | €6,570 | €3,738 | €1,368 | €61,828 | €2,620 | ▼ 95.8% |
| Deferred charges and accrued income490/1 | - | €771 | €627 | - | - | €5,802 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €379,524 | €298,499 | €310,907 | €318,583 | €154,320 | €122,823 | ▼ 20.4% |
| Equity10/15 | €19,778 | €31,616 | €82,476 | €135,841 | €136,810 | €108,516 | ▼ 20.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €13,578 | €25,416 | €76,276 | €129,641 | €130,610 | €102,316 | ▼ 21.7% |
| Distributable reserves133 | - | €25,416 | €76,276 | €129,641 | €130,610 | €102,316 | ▼ 21.7% |
| Profit (loss) carried forward14 | - | €0 | - | - | €0 | - | - |
| Amounts payable17/49 | €359,746 | €266,882 | €228,431 | €182,741 | €17,510 | €14,307 | ▼ 18.3% |
| Amounts payable after more than one year17 | €230,367 | €181,377 | €131,939 | €127,317 | €9,955 | €2,501 | ▼ 74.9% |
| Financial debts170/4 | - | €181,377 | €131,939 | €127,317 | €9,955 | €2,501 | ▼ 74.9% |
| Amounts payable within one year42/48 | €129,379 | €85,506 | €96,492 | €55,425 | €7,555 | €11,806 | ▲ 56.3% |
| Current portion of amounts payable after more than one year42 | - | €48,991 | €49,437 | €26,978 | €7,381 | €7,454 | ▲ 1.0% |
| Financial debts43 | - | - | €3,348 | €3,572 | €0 | - | - |
| Credit institutions430/8 | - | - | €3,348 | €3,572 | €0 | - | - |
| Trade debts44 | - | - | €1,104 | €38 | €33 | €35 | ▲ 6.8% |
| Suppliers440/4 | - | - | €1,104 | €38 | €33 | €35 | ▲ 6.8% |
| Advances received on contracts in progress46 | - | €25,000 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €11,515 | €16,003 | €24,003 | €142 | - | - |
| Taxes450/3 | - | €11,515 | €16,003 | €24,003 | €142 | - | - |
| Other amounts payable47/48 | - | €0 | €26,600 | €833 | €0 | €4,317 | - |
| Line | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,578 | €11,838 | €52,459 | €54,199 | €969 | -€27,461 | - |
| + Depreciation and write-downs630 | €5,740 | €4,068 | €5,400 | €7,867 | €9,895 | €9,901 | ▲ 0.1% |
| Operating cash flow (approximation) | €29,318 | €15,907 | €57,859 | €62,065 | €10,864 | -€17,560 | - |
| Investment in fixed assets (approximation) | - | - | €0 | -€37,686 | €270,000 | -€659 | - |
| Change in cash | - | - | -€2,832 | -€2,370 | €60,460 | -€59,208 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,591 companies had the same profile as LB Management has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LB Management itself: 1.2% 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.
| 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 3,591 companies, not a prediction for LB Management. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-06-2026 | 2026-00197478 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00304756 | |
| 31-12-2023 | micro format | 14-06-2024 | 2024-00129740 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00150840 | |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20301274 | |
| 31-03-2021 | micro format | 31-08-2021 | 2021-65900415 |