LEMA PROJECTS · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of LEMA PROJECTS is 0.3% (very low). The 2025 annual accounts show equity of €65k and a net result of €-7k. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 95% of 1090 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 8 annual accounts.

Signals

2 signals · with evidence

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.

View the result trend

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 95% of 1090 peers (2025). A comfortable equity buffer.

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-06-2026, 60 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	01-06-2026	60 d early	2026-00129045
31-12-2024	31-07-2025	04-06-2025	57 d early	2025-00117831
31-12-2023	31-07-2024	06-06-2024	55 d early	2024-00112073
31-12-2022	31-07-2023	31-05-2023	61 d early	2023-00099890
31-12-2021	31-07-2022	20-06-2022	41 d early	2022-20073567
31-12-2020	31-07-2021	09-06-2021	52 d early	2021-18500033
31-12-2019	31-07-2020	08-06-2020	53 d early	2020-15200348
31-12-2018	31-07-2019	28-05-2019	64 d early	2019-14700030
31-12-2017	31-07-2018	29-05-2018	63 d early	2018-14400193
31-12-2016	31-07-2017	19-06-2017	42 d early	2017-18700429

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 2001, 25 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.3% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€19k-34.7%

EBIT margin-47.9%-44.2pp

Net result€-7k-143.3%

Working capital€57k+2.7%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 01-06-2026 with the NBB · fiscal year 2025 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~102% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 82 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	95.9%	51.3%	better than 95% of 1090 sector peers
Net result	€-7k	€24k	better than 8% of 1090 sector peers
Equity	€65k	€51k	better than 57% of 1091 sector peers
Gross operating margin	€3k	€45k	better than 11% of 1090 sector peers
Total assets	€68k	€117k	better than 30% of 1092 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P95

Improving position over 2020-2025 · n=451-3178

Net result P8

Weakening position over 2020-2025 · n=450-3177

Equity P57

Weakening position over 2020-2025 · n=452-3180

Gross operating margin P11

Weakening position over 2020-2025 · n=445-3177

Describes the position versus peers, not a forecast.

Revenue

€19k

-34.7% 18-25

EBITDA

€2k

-85.4% 18-25

Net profit

€-7k

-143.3% 18-25

Cash flow

€4k

-59.7% 18-25

Total assets

€68k

-8.7% 18-25

Equity

€65k

-10.1% 18-25

Working capital

€57k

+2.7% 18-25

Income taxes

€-2k

- 18-25

Show 12 other metrics

Debt

€3k

+45.1% 18-25

Debt ≤ 1y

€3k

+45.1% 18-25

Debt > 1y

€3k

-63.2% 18-25

Current ratio

21.78

-28.2% 18-25

Quick ratio

21.78

-28.2% 18-25

Solvency

95.9%

-1.5% 18-25

Debt / equity

0.04

+61.4% 18-25

ROE

-11.2%

-170.7% 18-25

ROA

-10.8%

-166.5% 18-25

Net margin

-37.7%

-272.9% 18-25

EBITDA margin

8.1%

-77.6% 18-25

Interest coverage

10.30

-86.2% 18-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	€19k
EBITDA	€2k
Net profit	€-7k
Cash flow	€4k
Staff costs	-
Income taxes	€-2k
Dividends	-
Total assets	€68k
Equity	€65k
Debt	€3k
of which ≤ 1y	€3k
of which > 1y	-
Working capital	€57k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	21.78
Quick ratio	21.78
Working capital ratio	84.6%
Solvency	95.9%
Debt / equity	0.04
Long-term debt ratio	-
Interest coverage	10.30
Gross margin	4.4%
Net margin	-37.7%
ROA	-10.8%
ROE	-11.2%
EBITDA margin	8.1%
Days sales outstanding	32d
Days payable outstanding	8d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €8k · 11.3% Current assets €60k · 88.7%

Equity & liabilities

Equity €65k · 95.9% Debt €3k · 4.1%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€68k
Fixed assets	21/28	€8k
Tangible fixed assets	22/27	€8k
Current assets	29/58	€60k
Amounts receivable within one year	40/41	€4k
Investments	50/53	€50k
Cash & bank	54/58	€6k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€68k
Equity	10/15	€65k
Contributions / capital	10/11	€14k
Reserves	13	€51k
Amounts payable	17/49	€3k
Amounts payable within one year	42/48	€3k
Trade debts payable within one year	44	€412
Income statement
Turnover	70	€19k
Gross operating margin	9900	€3k
Operating result	9901	€-9k
Financial income	75	€243
Financial charges	65	€152
Result before taxes	9903	€-9k
Income taxes	67/77	€-2k
Net result for the period	9904	€-7k
Result to be appropriated	9905	€-7k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

72 / 100 Healthy

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Ekelbeke 1419220 Hamme (Vl.)

Establishment units

1 location

Ekelbeke 141, 9220 Hamme (Vl.)

Productie van legeringen van edele metalen

since 20012.116.272.655

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area2,117 m²

Buildings1

Building footprint185 m²

Volume (LiDAR)1,074 m³

Tallest building9.5 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42452C1017/00A000	Flanders	2,117 m²	1 · 185 m²	9.4 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.