LCA (0862.470.946): financials and annual accounts

LCA

Brussels ·KBO/BCE: BE 0862.470.946

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	181,666	243,100	283,382	349,473	357,527	378,512	424,418	282,988	272,393	233,665	235,854	219,238	170,280	181,245	152,341	241,963	246,544	227,092	304,592	312,605
Fixed assets`21/28`	54,506	81,678	97,958	85,987	111,492	139,153	145,961	59,263	13,331	7,085	23,519	34,980	8,988	11,969	25,731	46,318	58,729	81,031	99,770	116,426
Intangible fixed assets`21`	20,413	27,218	27,218	-	-	-	-	-	-	-	-	-	-	7,812	15,625	23,437	31,250	46,875	62,500	78,125
Tangible fixed assets`22/27`	34,025	46,088	62,360	77,625	111,492	139,153	145,961	59,263	13,331	7,085	23,519	34,980	8,988	4,157	10,106	22,881	27,479	34,156	37,270	38,301
Plant, machinery and equipment`23`	22,018	31,042	43,454	54,859	66,935	78,418	79,272	11,448	13,331	7,085	8,651	5,026	8,988	4,157	6,514	10,726	6,431	4,214	10,964	25,413
Furniture and vehicles`24`	12,007	15,046	18,906	22,766	44,557	60,735	66,689	47,815	-	-	14,868	29,954	-	-	3,592	12,155	21,048	29,942	26,306	12,888
Financial fixed assets`28`	68	8,372	8,380	8,362	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current assets`29/58`	127,160	161,422	185,424	263,486	246,035	239,359	278,457	223,725	259,062	226,580	212,335	184,258	161,292	169,276	126,610	195,645	187,815	146,061	204,822	196,179
Stocks and contracts in progress`3`	7,682	23,250	28,250	29,750	31,600	29,500	31,215	33,578	33,784	26,825	22,638	19,867	28,900	29,051	40,959	50,608	47,046	40,414	40,939	42,677
Stocks`30/36`	7,682	23,250	28,250	29,750	31,600	29,500	31,215	33,578	33,784	26,825	22,638	19,867	28,900	29,051	40,959	50,608	47,046	40,414	40,939	42,677
Amounts receivable within one year`40/41`	109,283	132,061	153,343	211,165	157,253	146,138	219,964	148,282	175,012	168,393	134,530	164,391	130,339	139,904	85,423	121,832	125,269	92,492	163,883	125,551
Trade receivables`40`	88,461	94,652	102,680	135,106	52,368	37,204	128,514	103,377	138,715	125,723	102,761	134,727	92,721	108,247	81,458	117,867	121,304	85,426	163,883	116,090
Other amounts receivable`41`	20,822	37,409	50,663	76,059	104,885	108,934	91,450	44,905	36,297	42,670	31,769	29,664	37,618	31,657	3,965	3,965	3,965	7,066	-	9,461
Cash at bank and in hand`54/58`	6,295	6,111	745	20,097	55,008	63,721	25,050	40,453	48,145	29,793	47,741	-	-	-	-	20,602	15,500	13,155	-	27,951
Deferred charges and accrued income`490/1`	3,900	-	3,086	2,474	2,174	-	2,228	1,412	2,121	1,569	7,426	-	2,053	321	228	2,603	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	181,666	243,100	283,382	349,473	357,527	378,512	424,418	282,988	272,393	233,665	235,854	219,238	170,280	181,245	152,341	241,963	246,544	227,092	304,592	312,605
Equity`10/15`	-197,505	-205,837	-186,843	-129,408	-107,026	-52,729	10,045	28,866	28,716	30,065	34,841	36,955	29,602	31,495	33,343	29,195	28,850	37,855	35,996	32,052
Contributions`10/11`	18,139	18,139	18,086	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Issued capital`100`	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Reserves`13`	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Non-distributable reserves`130/1`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-217,504	-225,836	-206,789	-149,868	-127,486	-73,189	-10,415	8,406	8,256	9,605	14,381	16,495	9,142	11,035	12,883	8,735	8,390	17,395	15,536	11,592
Amounts payable`17/49`	379,171	448,937	470,225	478,881	464,553	431,241	414,373	254,122	243,677	203,600	201,013	182,283	140,678	149,750	118,998	212,768	217,694	189,237	268,596	280,553
Amounts payable after more than one year`17`	181,469	281,640	281,639	114,733	122,644	139,270	104,747	35,711	-	9,082	16,081	22,205	-	-	12,908	12,908	29,194	61,023	79,087	81,232
Financial debts`170/4`	-	-	-	3,233	12,644	28,144	54,747	35,711	-	9,082	16,081	22,205	-	-	12,908	12,908	29,194	61,023	79,087	81,232
Other amounts payable`178/9`	181,469	281,640	281,639	111,500	110,000	111,126	50,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	197,702	166,398	188,586	364,148	341,908	291,970	309,626	218,411	243,677	194,518	184,932	160,078	138,068	149,750	102,726	199,860	188,500	128,214	189,509	199,321
Current portion of amounts payable after more than one year`42`	-	2,769	3,603	12,752	19,031	19,836	10,972	14,137	12,437	10,533	10,775	13,365	6,936	12,357	8,366	23,667	32,450	30,838	29,182	47,527
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	40,931	10,712	33,621	19,785	-	-	-	5,150	1,000
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	40,931	10,712	33,621	19,785	-	-	-	5,150	1,000
Trade debts`44`	160,844	142,509	180,314	245,403	210,943	163,908	262,464	166,052	203,029	152,632	140,292	72,801	111,769	78,004	41,212	124,637	152,097	88,655	118,516	114,394
Suppliers`440/4`	160,844	142,509	180,314	245,403	210,943	163,908	262,464	166,052	203,029	152,632	140,292	72,801	111,769	78,004	41,212	124,637	152,097	88,655	118,516	114,394
Taxes, remuneration and social security`45`	36,858	21,120	4,669	105,993	111,934	108,226	36,190	38,221	28,210	31,353	33,865	32,981	8,651	25,768	33,363	51,556	3,953	8,721	36,661	36,400
Taxes`450/3`	8,023	4,311	1,236	19,695	35,349	292	2,616	4,390	-	593	2,747	-	1,622	25,768	18,224	19,104	3,953	8,721	10,434	16,074
Remuneration and social security`454/9`	28,835	16,809	3,433	86,298	76,585	107,934	33,574	33,831	28,210	30,760	31,118	32,981	7,029	-	15,139	32,452	-	-	26,227	20,326
Other amounts payable`47/48`	-	-	-	-	-	-	-	1	1	-	-	-	-	-	-	-	-	-	-	-
Accrued charges and deferred income`492/3`	-	899	-	-	1	1	-	-	-	-	-	-	2,610	-	3,364	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	75,000	-	-	-	-	-	-	726	-	18,697	-	92	-	-	-	-	-
Gross operating margin`9900`	312,198	289,138	265,565	370,170	349,678	239,165	321,826	315,736	297,210	297,774	299,121	344,956	303,063	313,536	333,442	366,564	372,175	348,574	357,562	329,537
Remuneration, social security and pensions`62`	257,225	271,607	291,508	353,550	339,873	274,329	324,023	304,880	276,160	275,499	280,009	309,540	306,301	294,546	302,035	339,191	345,004	298,768	291,328	267,932
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	20,159	16,272	16,271	33,867	34,251	12,879	8,740	7,860	3,558	17,446	17,461	18,613	12,010	13,762	20,587	21,823	27,732	36,699	46,503	45,668
Other operating charges`640/8`	11,224	13,966	10,275	2,019	23,986	8,546	4,572	1,759	10,344	3,749	1,688	5,253	4,377	3,935	3,552	4,342	3,476	4,505	8,160	628
Operating profit (loss)`9901`	23,590	-12,707	-52,489	-19,266	-48,432	-56,589	-15,509	1,237	7,148	1,080	-37	11,550	-19,625	1,293	7,268	1,208	-4,037	8,602	11,571	15,309
Financial income`75/76B`	157	49	5	232	-	4	160	349	1,269	7	1,793	31	409	84	1	159	22	17	38	36
Recurring financial income`75`	157	49	5	232	-	4	160	349	1,269	7	1,793	31	409	84	1	159	22	17	38	36
Financial charges`65/66B`	12,415	5,855	3,371	3,348	5,134	6,189	2,129	1,436	7,612	2,145	685	4,112	1,374	3,225	2,903	4,181	5,096	6,536	6,160	11,022
Recurring financial charges`65`	12,415	5,855	3,371	3,348	5,134	6,189	2,129	1,436	7,612	2,145	685	4,112	1,374	3,225	2,903	4,181	5,096	6,536	6,160	11,022
Profit (loss) for the period before taxes`9903`	11,332	-18,513	-55,855	-22,382	-53,566	-62,774	-17,478	150	805	-1,058	1,797	7,469	-1,893	-1,848	4,458	-2,814	-9,111	2,083	5,449	4,323
Income taxes`67/77`	3,000	534	1,066	-	731	-	1,343	-	2,154	3,718	3,911	116	-	-	310	-3,159	-106	224	1,505	174
Profit (loss) for the period`9904`	8,332	-19,047	-56,921	-22,382	-54,297	-62,774	-18,821	150	-1,349	-4,776	-2,114	7,353	-1,893	-1,848	4,148	345	-9,005	1,859	3,944	4,149
Profit (loss) for the period to be appropriated`9905`	8,332	-19,047	-56,921	-22,382	-54,297	-62,774	-18,821	150	-1,349	-4,776	-2,114	7,353	-1,893	-1,848	4,148	345	-9,005	1,859	3,944	4,149
Appropriation of the result
Profit (loss) to be appropriated`9906`	-217,504	-225,836	-206,789	-149,868	-127,486	-73,189	-10,415	8,406	8,256	9,605	14,381	16,495	9,142	11,035	12,883	8,735	8,390	17,395	15,536	11,592
Profit (loss) brought forward from the previous period`14P`	-225,836	-206,789	-149,868	-127,486	-73,189	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	3.5	4	4	6	6	6	8	8	8	8.3	8.2	6.9	9.5	9.2	9.4	9.9	10.4	10	10	10
Hours worked`1013`	-	-	-	-	-	9,425	12,567	12,640	12,494	12,619	12,779	11,531	13,313	13,512	13,998	14,769	16,284	16,424	16,249	17,531
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	13-07-2026	2026-00315188	PDF
31-12-2024	full format	24-06-2025	2025-00192208	PDF
31-12-2023	full format	19-06-2024	2024-00166595	PDF
31-12-2022	full format	08-08-2023	2023-00318744	PDF
31-12-2021	abbreviated format	07-11-2022	2022-20515336	PDF
31-12-2020	full format	21-10-2021	2021-72400459	PDF
31-12-2019	full format	18-10-2020	2020-61700450	PDF
31-12-2018	full format	21-06-2019	2019-20400188	PDF
31-12-2017	full format	26-06-2018	2018-21700011	PDF
31-12-2016	full format	27-07-2017	2017-35300587	PDF
31-12-2015	full format	20-06-2016	2016-18300292	PDF
31-12-2014	full format	15-06-2015	2015-16900471	PDF
31-12-2013	full format	23-06-2014	2014-19000551	PDF
31-12-2012	full format	26-06-2013	2013-21100434	PDF
31-12-2011	full format	25-06-2012	2012-20000162	PDF
31-12-2010	full format	28-06-2011	2011-20900169	PDF
31-12-2009	full format	11-06-2010	2010-16500261	PDF
31-12-2008	full format	07-06-2009	2009-19300205	PDF
31-12-2007	full format	28-06-2008	2008-29400154	PDF
31-12-2006	full format	20-06-2007	2007-23500232	PDF
31-12-2005	full format	03-07-2006	2006-38801204	PDF
31-12-2004	full format	27-06-2005	2005-34003054	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	43,749	3,565	-36,218	14,601	-14,181	-43,710	-6,769	9,097	10,706	18,526	17,424	30,163	-7,615	15,055	27,855	23,031	23,695	45,301	58,074	60,977
Cash flow	28,491	-2,775	-40,650	11,485	-20,046	-49,895	-10,081	8,010	2,209	12,670	15,347	25,966	10,117	11,914	24,735	22,168	18,727	38,558	50,447	49,817
Investment in fixed assets (approximation)	1,292	-8	28,242	8,362	6,590	6,071	95,438	53,792	9,804	1,012	6,000	44,605	9,029	0	0	9,412	20,230	17,960	29,847	6,046
Change in cash	184	5,366	-19,352	-34,911	-8,713	38,671	-15,403	-7,692	18,352	-17,948	-	-	-	-	-	5,102	2,345	-	-	-
Working capital	-70,542	-4,976	-3,162	-100,662	-95,873	-52,611	-31,169	5,314	15,385	32,062	27,403	24,180	23,224	19,526	23,884	-4,215	-685	17,847	15,313	-3,142
Solvency	-108.7%	-84.7%	-65.9%	-37.0%	-29.9%	-13.9%	2.4%	10.2%	10.5%	12.9%	14.8%	16.9%	17.4%	17.4%	21.9%	12.1%	11.7%	16.7%	11.8%	10.3%
Current ratio	0.64	0.97	0.98	0.72	0.72	0.82	0.90	1.02	1.06	1.16	1.15	1.15	1.17	1.13	1.23	0.98	1.00	1.14	1.08	0.98
Quick ratio	0.60	0.83	0.83	0.64	0.63	0.72	0.80	0.87	0.92	1.03	1.03	1.03	0.96	0.94	0.83	0.73	0.75	0.82	0.86	0.77
Debt to equity	-	-	-	-	-	-	41.25	8.80	8.49	6.77	5.77	4.93	4.75	4.75	3.57	7.29	7.55	5.00	7.46	8.75
ROE	-	-	-	-	-	-	-187.4%	0.5%	-4.7%	-15.9%	-6.1%	19.9%	-6.4%	-5.9%	12.4%	1.2%	-31.2%	4.9%	11.0%	12.9%
ROA	4.6%	-7.8%	-20.1%	-6.4%	-15.2%	-16.6%	-4.4%	0.1%	-0.5%	-2.0%	-0.9%	3.4%	-1.1%	-1.0%	2.7%	0.1%	-3.7%	0.8%	1.3%	1.3%
Interest coverage	3.52	0.61	-10.74	4.36	-2.76	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	-	€2,769	€3,604	-	€143,608
Pledge on the business	-	€2,769	€3,604	€143,608	€143,608

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€1,292	-	€1,006	-	€6,590
Intangible fixed assets	-	-	€27,218	-	-
Financial fixed assets	-	-	€18	€8,362	-
Depreciation and write-downs of the year	€20,159	€16,272	€16,271	€33,867	€34,251

LCA

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency-108.7%

Current ratio0.64

Return on assets4.6%

Staff

Staff cost per FTE€73,493

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Securities and guarantees

Investments

Insights on LCA

Next steps