LECOBEL

Active

Public limited companyfounded 198837 yrs activeGeorges Brugmannplein 10B, 1050 Elsene, BelgiumKBO/BCE: BE 0436.334.803

LECOBEL has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.49M and a net result of €-36k. Equity is shrinking by ~3% per year across the filed fiscal years. Its solvency ranks better than 79% of 4830 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

Watch Print / PDF

Checked score

Score 2024

78 / 100

Excellent▲ +26 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency100=

Growth32=

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €120k at 30 days acceptable

Liquidity ample (current ratio 2.92 against 2.55 in 2023), and 27.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Nine signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

72.4%

Return on assets

-1.8%

Age of the figures

20 mo

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year -€36k

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-06-2025, 51 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

51 d early

2023

61 d early

2022

47 d early

2021

44 d early

2020

39 d early

2019

10 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-36k▲ 53.1%

2023 · €-77k

2018: €211k 2019: €7k 2020: €-40k 2021: €16k 2022: €-48k 2023: €-77k

2018 → 2024

Working capital

€1.09M▲ 2.4%

2023 · €1.06M

2018: €1.76M 2019: €1.53M 2020: €1.55M 2021: €1.55M 2022: €1.05M 2023: €1.06M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€1.63M-€1.65M▲ 1.0%€1.60M▼ 2.9%€1.52M▼ 4.8%€1.49M▼ 2.4%

Operating result€-67k-€25k€-59k€-99k▼ 68.9%€-46k▲ 54.0%

Net result€-40k-€16k€-48k€-77k▼ 59.4%€-36k▲ 53.1%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €46k in 2024 against €99k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.05M

19.4%

80.6%

Fixed assets €398k▼ 13.7%

Current assets €1.65M▼ 5.2%

Equity and liabilities €2.05M

72.4%

27.6%

Equity €1.49M▼ 2.4%

Debt €566k▼ 17.3%

The debt ratio falls from 31.0% to 27.6%: debt falls faster than equity shrinks.

Key figures and ratios

2024 value · change against 2023

EBITDA

€23k▲

2023 · €-31k

Cash flow

€32k▲

2023 · €-9k

Solvency

72.4%▲

2023 · 69.0%

Current ratio

2.92▲

2023 · 2.55

Quick ratio

2.92▲

2023 · 2.55

Debt / equity

0.38▼

2023 · 0.45

ROE

-2.4%▲

2023 · -5.1%

ROA

-1.8%▲

2023 · -3.5%

Interest coverage

6.71▲

2023 · -6.61

Debt

€566k▼

2023 · €685k

Debt ≤ 1 year

€566k▼

2023 · €683k

Income taxes

€211▼

2023 · €324

Staff costs

€534k▼

2023 · €651k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€2.21M€2.05M▼

Fixed assets21/28€461k€398k▼

Tangible fixed assets22/27€445k€382k▼

Furniture and vehicles24€34k€25k▼

Other tangible fixed assets26€412k€357k▼

Financial fixed assets28€16k€17k▲

Current assets29/58€1.75M€1.65M▼

Amounts receivable within one year40/41€1.58M€1.43M▼

Trade receivables40€182k€184k▲

Other amounts receivable41€1.39M€1.24M▼

Cash at bank and in hand54/58€164k€220k▲

Deferred charges and accrued income490/1€5k€7k▲

Equity and liabilities

Total equity and liabilities10/49€2.21M€2.05M▼

Equity10/15€1.52M€1.49M▼

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€1.46M€1.42M▼

Non-distributable reserves130/1€6k€6k=

Legal reserve130€6k€6k=

Tax-exempt reserves132€40k€40k=

Distributable reserves133€1.41M€1.38M▼

Profit (loss) carried forward14€89€951▲

Amounts payable17/49€685k€566k▼

Amounts payable within one year42/48€683k€566k▼

Trade debts44€533k€483k▼

Suppliers440/4€533k€483k▼

Taxes, remuneration and social security45€118k€53k▼

Taxes450/3€37k€20k▼

Remuneration and social security454/9€82k€33k▼

Other amounts payable47/48€32k€31k▼

Accrued charges and deferred income492/3€1k€141▼

Income statement Code20232024

Remuneration, social security and pensions62€651k€534k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€68k€68k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€304€3k▲

Other operating charges640/8€7k€8k▲

Gross operating margin9900€628k€568k▼

Operating profit (loss)9901€-99k€-46k▲

Financial income75/76B€27k€13k▼

Recurring financial income75€27k€13k▼

Financial charges65/66B€5k€3k▼

Recurring financial charges65€5k€3k▼

Profit (loss) for the period before taxes9903€-77k€-36k▲

Income taxes67/77€324€211▼

Profit (loss) for the period9904€-77k€-36k▲

Profit (loss) for the period to be appropriated9905€-77k€-36k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-77k€-36k▲

Profit (loss) brought forward from the previous period14P€129€89▼

Transfer from equity791/2€77k€37k▼

Social balance

Average headcount (FTE)90878.49.5▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

2025

10-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-05

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Weakest financial yearnet €-77k

Net result drops to €-77k, the lowest in the series; recovery starts the following year.

14-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

17-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

31-12

Financial Back to profitnet €16k

Net result €16k after one loss-making year.

22-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

10-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 10 days late

2019

11-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

13-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

12-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

10-06

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 director, no change since 2025

SA Lecobel

Managing director · since 01-08-2025 · Legal entity · perm. rep.: Michel Pelège

Current

01-08-2025 Appointed as Managing director

Location & real-estate footprint

Registered office, Elsene · 2 establishment units since 1989

establishment All 2 establishment units on the map

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.

Georges Brugmannplein 10B1050 Elsene

Ground area

2,242 m²

Building footprint

967 m²

Volume, LiDAR

21,701 m³

2 parcels, Brussels · tallest building 27.4 m, ±8 floors. Linked by address, not a title deed.

2 establishment units

LECOBEL

Georges Brugmannplein 10B, 1050 ElseneNACE 70201

since 19892.042.281.055

LECOBEL

Belliardstraat 200, 1040 BrusselRenting and operating of own or leased residential real estate, excluding social housing

since 20192.288.367.481

2 parcels

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21806F0478/00T005	Brussels	2,092 m²	1 · 833 m²	27.4 m · 8 fl.
21447B0309/00T012	Brussels	150 m²	1 · 134 m²	20.4 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.

Similar companies · same sector, comparable size

Merelbeke-Melle · Eq €1.49M

Of 11,700 companies in sector 68310 we hold annual accounts for 6,875. 3,203 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded15-12-1988

Fiscal year end31-12

Activities, NACEBEL

68310Real estate agency activities

68311Real estate activities

70311

Sources

Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers

Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.