LEMAN
ActiveSummary
LEMAN has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111.1m and a net result of €266,705. Equity remains stable across the filed fiscal years (±1.5% per year). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▲+1
Solvency100=
Growth68▲+2
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €360,000 at 30 days acceptable
Liquidity ample (current ratio 9.13 against 2.43 in 2024; short-term debt: 2.9% and cash: 0.1% of total assets), and 11.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
88.3%
Return on assets
0.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
38 d late
2024
18 d late
2023
22 d late
2022
48 d early
2021
47 d early
2020
40 d early
2019
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 15 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · 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. Usually files around 18 August (4 of the last 5 filed years within 65 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€3.6m▲ 237%
2024 · €1.1m
EBIT margin
26.8%▼ 68.6pp
2024 · 95.4%
Net result
€266,705▼ 23.5%
2024 · €348,465
Working capital
€29.4m▲ 52.9%
2024 · €19.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.1m▲ 54.6%€1.6m▲ 51.9%€1.2m▼ 29.6%€1.1m▼ 6.6%€3.6m▲ 237%
Operating result€615,402▲ 268%€1.3m▲ 107%€651,224▼ 49.0%€1.0m▲ 57.5%€971,905▼ 5.3%
Net result€488,672▲ 516%€808,006▲ 65.3%€339,791▼ 57.9%€348,465▲ 2.6%€266,705▼ 23.5%
EBIT margin57.1%▲ 33.1pp78.0%▲ 20.9pp56.5%▼ 21.5pp95.4%▲ 38.8pp26.8%▼ 68.6pp
Equity€96.4m▲ 0.5%€101.2m▲ 5.0%€101.6m▲ 0.3%€101.9m▲ 0.3%€111.1m▲ 9.1%
Total assets€107.2m▲ 3.8%€113.1m▲ 5.5%€122.0m▲ 7.9%€127.0m▲ 4.1%€125.9m▼ 0.9%
Debt€10.8m▲ 47.9%€11.9m▲ 10.3%€20.5m▲ 72.9%€25.1m▲ 22.6%€14.8m▼ 41.2%
Working capital-€3.9m▼ 333%€17.7m€17.7m▲ 0.5%€19.2m▲ 8.2%€29.4m▲ 52.9%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125.9m
Fixed assets
€92.9m ▼ 1.6%
Current assets
€33.0m ▲ 1.1%
Equity and liabilities €125.9m
Equity
€111.1m ▲ 9.1%
Debt
€14.8m ▼ 41.2%
Debt's share of the balance-sheet total falls from 19.8% to 11.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.0m▼
2024 · €1.1m
Cash flow
€304,642▼
2024 · €442,658
Current ratio
9.13▲
2024 · 2.43
Debt to equity
0.13▼
2024 · 0.25
ROE
0.2%▼
2024 · 0.3%
ROA
0.2%▼
2024 · 0.3%
Interest coverage
1.45▲
2024 · 1.33
Debt ≤ 1 year
€3.6m▼
2024 · €13.4m
Debt > 1 year
€11.1m▼
2024 · €11.7m
Income taxes
€113,689
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | €1.6m | €1.2m | €1.1m | €3.6m | ▲ 237% |
| Non-recurring operating income76A | - | - | - | €8.7m | - | - |
| Goods, raw materials, services and sundry goods60/61 | €275,737 | €239,805 | €375,380 | €329,286 | €273,951 | ▼ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,582 | €90,153 | €92,325 | €94,193 | €37,937 | ▼ 59.7% |
| Other operating charges640/8 | €96,507 | €29,494 | €32,915 | €38,612 | €23,042 | ▼ 40.3% |
| Non-recurring operating charges66A | - | - | - | €8.3m | €2.3m | ▼ 71.9% |
| Gross operating margin9900 | €801,491 | €1.4m | €776,464 | €9.4m | €3.4m | ▼ 64.4% |
| Operating profit (loss)9901 | €615,402 | €1.3m | €651,224 | €1.0m | €971,905 | ▼ 5.3% |
| Financial income75/76B | €1,926 | - | €126,916 | €167,143 | €102,546 | ▼ 38.6% |
| Recurring financial income75 | €1,926 | - | €126,916 | €167,143 | €102,546 | ▼ 38.6% |
| Financial charges65/66B | €55,513 | €177,412 | €311,817 | €844,530 | €694,056 | ▼ 17.8% |
| Recurring financial charges65 | €55,513 | €177,412 | €311,817 | €844,530 | €694,056 | ▼ 17.8% |
| Profit (loss) for the period before taxes9903 | €561,814 | €1.1m | €466,323 | €348,465 | €380,395 | ▲ 9.2% |
| Income taxes67/77 | €73,143 | €290,967 | €126,532 | - | €113,689 | - |
| Profit (loss) for the period9904 | €488,672 | €808,006 | €339,791 | €348,465 | €266,705 | ▼ 23.5% |
| Profit (loss) for the period to be appropriated9905 | €488,672 | €808,006 | €339,791 | €348,465 | €266,705 | ▼ 23.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107.2m | €113.1m | €122.0m | €127.0m | €125.9m | ▼ 0.9% |
| Fixed assets21/28 | €100.8m | €88.9m | €89.0m | €94.4m | €92.9m | ▼ 1.6% |
| Tangible fixed assets22/27 | €4.0m | €4.0m | €4.1m | €4.0m | €2.6m | ▼ 35.8% |
| Land and buildings22 | €3.5m | €3.4m | €3.3m | €3.2m | €1.3m | ▼ 59.2% |
| Plant, machinery and equipment23 | - | - | €18,685 | €16,816 | €14,948 | ▼ 11.1% |
| Furniture and vehicles24 | - | €13,142 | €10,399 | €7,656 | €4,914 | ▼ 35.8% |
| Other tangible fixed assets26 | €522,075 | €522,075 | €737,925 | €737,925 | €1.2m | ▲ 66.4% |
| Financial fixed assets28 | €96.7m | €84.9m | €85.0m | €90.4m | €90.4m | = |
| Current assets29/58 | €6.4m | €24.2m | €33.0m | €32.6m | €33.0m | ▲ 1.1% |
| Amounts receivable after more than one year29 | - | €11.8m | €10.5m | €9.2m | €8.0m | ▼ 13.5% |
| Other amounts receivable291 | - | €11.8m | €10.5m | €9.2m | €8.0m | ▼ 13.5% |
| Amounts receivable within one year40/41 | €6.4m | €12.4m | €22.5m | €23.2m | €24.9m | ▲ 7.5% |
| Other amounts receivable41 | €6.4m | €12.4m | €22.5m | €23.2m | €24.9m | ▲ 7.5% |
| Cash at bank and in hand54/58 | €16,063 | €41,891 | €37,960 | €104,096 | €72,941 | ▼ 29.9% |
| Deferred charges and accrued income490/1 | - | €115 | €1,100 | €107,528 | €5,987 | ▼ 94.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107.2m | €113.1m | €122.0m | €127.0m | €125.9m | ▼ 0.9% |
| Equity10/15 | €96.4m | €101.2m | €101.6m | €101.9m | €111.1m | ▲ 9.1% |
| Contributions10/11 | €90.0m | €100.0m | €100.0m | €100.0m | €110.0m | ▲ 10.0% |
| Reserves13 | €5.5m | - | - | - | - | - |
| Non-distributable reserves130/1 | €5.5m | - | - | - | - | - |
| Reserves not available under the articles1311 | €5.5m | - | - | - | - | - |
| Profit (loss) carried forward14 | €960,140 | €1.2m | €1.6m | €1.9m | €1.1m | ▼ 40.5% |
| Amounts payable17/49 | €10.8m | €11.9m | €20.5m | €25.1m | €14.8m | ▼ 41.2% |
| Amounts payable after more than one year17 | €490,000 | €5.3m | €5.2m | €11.7m | €11.1m | ▼ 4.5% |
| Financial debts170/4 | €490,000 | €5.3m | €5.2m | €11.7m | €11.1m | ▼ 4.5% |
| Amounts payable within one year42/48 | €10.2m | €6.5m | €15.3m | €13.4m | €3.6m | ▼ 73.1% |
| Current portion of amounts payable after more than one year42 | €4.2m | €196,667 | €8.1m | €530,000 | €530,000 | = |
| Financial debts43 | €105 | €105 | €105 | €105 | €105 | = |
| Other loans439 | €105 | €105 | €105 | €105 | €105 | = |
| Taxes, remuneration and social security45 | €180,350 | €441,000 | €120,000 | €120,000 | €105,875 | ▼ 11.8% |
| Taxes450/3 | €180,350 | €441,000 | €120,000 | €120,000 | €105,875 | ▼ 11.8% |
| Other amounts payable47/48 | €5.9m | €5.9m | €7.0m | €12.8m | €3.0m | ▼ 76.7% |
| Accrued charges and deferred income492/3 | €18,045 | €35,342 | €57,154 | €59,699 | €52,912 | ▼ 11.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €488,672 | €808,006 | €339,791 | €348,465 | €266,705 | ▼ 23.5% |
| + Depreciation and write-downs630 | €89,582 | €90,153 | €92,325 | €94,193 | €37,937 | ▼ 59.7% |
| Operating cash flow (approximation) | €578,254 | €898,160 | €432,116 | €442,658 | €304,642 | ▼ 31.2% |
| Investment in fixed assets (approximation) | - | €11.8m | -€243,832 | -€5.5m | €1.4m | ▲ 126% |
| Change in cash | - | €25,828 | -€3,931 | €66,135 | -€31,155 | ▼ 147% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 38 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 9.13
Current ratio from 2.43 to 9.13; short-term debt falls from €13.4m to €3.6m.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 22 days late
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €808,006 ▲65.3%
Operating result €1.3m, net result €808,006, both a record.
31-12
Financial
Liquidity times 6current ratio 3.70
Current ratio from 0.62 to 3.70; short-term debt falls from €10.2m to €6.5m.
31-12
Financial
Equity above €100mEq €101.2m ▲5%
5 profitable years in a row build equity to €101.2m.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €79,374 ▼56.7%
Net result drops to €79,374, the lowest in the series; recovery starts the following year.
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-10
State Gazette act
Permanent representative · Capital increase
Share issue · Real estate
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 18 acts read
About the unread acts
We know of 18 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
18 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2001
Ground area
1,597 m²
Building footprint
260 m²
Volume, LiDAR
1,951 m³
Parcel 21612C0056/02Y078, Brussels · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Montjoielaan 100, 1180 Ukkel
since 20012.360.866.370
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0056/02Y078 | Brussels | 1,597 m² | 1 · 260 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
3 owners · 16 holdings · 10 subsidiaries in the treeOwners 3
-
4.31%
- Sourceaccounts Z IMMO 20253.92%
-
0.06%
Holdings 16
-
99%
-
86.56%
-
82.47%
-
77.41%
-
66.7%
-
53.85%
-
50.77%
-
45.14%
-
42.11%
-
39.02%
Show 6 more holdings
-
18.33%
-
17.1%
-
13.97%
-
0.32%
-
0.15%
-
7,200 shares
All subsidiaries, including indirect ones 10
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- INTERLOGISTICS 99%
Z IMMO 86.56%2 subsidiaries
- LevrayFR 62%
- IMMOFONDS BELGIUM 60.98%
- LEMAN FRANCE sasFR 82.47%
- Universal Express 77.41%
Intertrans 66.7%1 subsidiary
- INTERTRANS NEDERLANDNL 100%
- ZIEGLER VASTGOED 53.85%
- LEMAN DEUTSCHLAND GmbhDE 50.77%
According to the 2025 annual accounts of LEMAN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
549300NFVFH8CZONC776
Identification & contact
Identification
Legal formPrivate limited company
Founded19-04-2001
Fiscal year end31-12
Contact
E-mail
alain_ziegler@zieglergroup.com
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.