Equity
LEMCON has made a profit in every financial year since 2016.
LEMCON has made a profit in every financial year since 2016.
Of this, €3.3m falls due within a year.
In 2025, 7 people joined and 6 left.
Latest accounts filed late: after the legal deadline.
A director left. Latest change 01-01-2026 · 1 in office.
The dashed line is the sector median: 0.1% across 6,997 companies (NACE 68, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 25% of them on solvency, 6% on liquidity, 69% on profitability and 63% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,448 companies had the same profile as LEMCON has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LEMCON itself: 2.2% within 12 months.
The method was tested on the 497,447 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 1,448 companies, not a prediction for LEMCON. 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.
Liquidity is insufficient, with a current ratio of 0.99 (0.98 in 2024), below 1. Short-term debt is 91.8% and cash 2.4% of total assets. 92.6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 50 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| LEMCON Leuven | €3.6m | €1.0m | 7.4% | 12.8 |
| GBN Bouwbedrijf Sint-Niklaas | €3.3m | €1.0m | 22.0% | 10.5 |
| B&H Group Ghent | €2.7m | €0.8m | -13.1% | 12.9 |
| B.A.B.E.L. Kortemark | €2.7m | €1.1m | 13.2% | 15 |
| C3K BOUWCHEMIE Evergem | €3.5m | €2.2m | 49.2% | 13.6 |
| TWC Zwalm | €2.2m | €0.9m | 10.9% | 12.7 |
| GRISK Consulting Mont-Saint-Guibert | €3.1m | €1.7m | 42.6% | 13.7 |
These companies have the same main activity as LEMCON: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €2.2m and €3.5m, founded between 2011 and 2017.
LEMCON files the abbreviated format. That format states no turnover. The gross margin rose from €50,913 in 2016 to €1.0m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.3m. Estimated: probably between €1.1m and €2.8m.
Higher than 26% of 11,299 companies in 2025.
Higher than 44% of 10,851 companies in 2025.
Higher than 44% of 11,184 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half · Staff: top quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 7 people joined and 6 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
3.6m | 2.4m | 3.0m | 3.0m | 2.3m | 1.2m | 478,420 | 596,171 | 588,640 | 370,623 | |
21/28 |
340,073 | 345,959 | 299,673 | 89,802 | 37,228 | 167,810 | 152,693 | 136,831 | 57,225 | 18,818 | |
22/27 |
340,073 | 345,959 | 299,673 | 89,802 | 37,228 | 167,810 | 152,693 | 136,831 | 57,225 | 18,818 | |
22 |
8,489 | 3,337 | 3,754 | 4,171 | - | 94,160 | 55,163 | 39,359 | - | - | |
23 |
164,991 | 166,426 | 147,168 | 68,305 | 36,011 | 68,988 | 94,187 | 93,016 | 55,767 | 15,902 | |
24 |
160,218 | 168,939 | 140,611 | 17,327 | 1,217 | 4,663 | 3,342 | 4,456 | 1,458 | 2,916 | |
26 |
6,374 | 7,257 | 8,140 | - | - | - | - | - | - | - | |
29/58 |
3.3m | 2.1m | 2.7m | 3.0m | 2.3m | 1.1m | 325,727 | 459,340 | 531,415 | 351,805 | |
3 |
236,254 | 146,254 | 36,254 | 36,254 | 36,254 | 166,520 | 10,715 | 10,715 | - | - | |
30/36 |
236,254 | 146,254 | 36,254 | 36,254 | 36,254 | 166,520 | 10,715 | 10,715 | - | - | |
40/41 |
3.0m | 1.9m | 2.6m | 2.8m | 2.2m | 729,375 | 278,334 | 409,511 | 485,425 | 332,025 | |
40 |
2.5m | 1.3m | 2.2m | 2.5m | 2.0m | 540,169 | 224,550 | 300,061 | 219,302 | 220,856 | |
41 |
503,177 | 590,861 | 452,265 | 315,626 | 180,871 | 189,206 | 53,784 | 109,449 | 266,123 | 111,170 | |
54/58 |
88,078 | 25,982 | 41,677 | 138,697 | 11,962 | 186,211 | 36,678 | 39,115 | 45,990 | - | |
490/1 |
- | - | - | - | - | - | - | - | - | 19,780 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
3.6m | 2.4m | 3.0m | 3.0m | 2.3m | 1.2m | 478,420 | 596,171 | 588,640 | 370,623 | |
10/15 |
267,907 | 255,147 | 214,046 | 185,052 | 121,616 | 101,507 | 90,339 | 80,320 | 65,277 | 42,142 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
14 |
253,647 | 240,887 | 199,786 | 170,792 | 107,356 | 87,247 | 76,079 | 66,060 | 51,017 | 27,882 | |
17/49 |
3.4m | 2.1m | 2.8m | 2.9m | 2.2m | 1.1m | 388,080 | 515,851 | 523,362 | 328,481 | |
17 |
28,676 | 57,586 | 51,877 | - | - | - | 1,742 | 4,673 | - | - | |
170/4 |
28,676 | 57,586 | 51,877 | - | - | - | 1,742 | 4,673 | - | - | |
42/48 |
3.3m | 2.1m | 2.7m | 2.9m | 2.2m | 1.1m | 386,338 | 511,178 | 523,362 | 328,481 | |
42 |
28,910 | 50,453 | 35,098 | - | - | 1,742 | 2,931 | 2,864 | - | - | |
44 |
3.0m | 1.8m | 2.4m | 2.5m | 1.9m | 1.1m | 380,449 | 461,263 | 373,532 | 313,306 | |
440/4 |
3.0m | 1.8m | 2.4m | 2.5m | 1.9m | 1.1m | 380,449 | 461,263 | 373,532 | 313,306 | |
45 |
70,239 | 60,551 | 56,749 | 66,263 | 36,897 | 5,477 | 2,959 | 47,051 | 24,830 | 15,174 | |
450/3 |
32,484 | 39,818 | 45,060 | 32,215 | 13,480 | 5,477 | 2,959 | 9,655 | 24,830 | 15,174 | |
454/9 |
37,755 | 20,734 | 11,689 | 34,048 | 23,417 | - | - | 37,396 | - | - | |
47/48 |
188,150 | 218,150 | 218,150 | 245,000 | 244,000 | - | - | - | 125,000 | - | |
| Income statement | |||||||||||
76A |
- | - | 513,173 | - | - | - | - | - | - | - | |
9900 |
1.0m | 986,594 | 779,992 | 448,912 | 213,792 | 106,036 | 249,576 | 281,599 | 49,557 | 50,913 | |
62 |
911,013 | 827,142 | 683,031 | 333,763 | 174,067 | 61,428 | 228,745 | 245,954 | - | - | |
630 |
97,695 | 83,064 | 41,220 | 16,600 | 7,181 | 27,531 | 8,028 | 19,548 | 16,394 | 5,434 | |
640/8 |
3,854 | 3,906 | 4,216 | 11,303 | 819 | 1,086 | 1,155 | 1,362 | 628 | 904 | |
9901 |
28,200 | 72,482 | 51,525 | 87,245 | 31,726 | 15,991 | 11,648 | 14,735 | 32,535 | 44,576 | |
75/76B |
24 | 291 | 92 | 375 | 308 | 1,325 | 2,735 | 1,181 | 528 | 359 | |
75 |
24 | 291 | 92 | 375 | 308 | 1,325 | 2,735 | 1,181 | 528 | 359 | |
65/66B |
6,555 | 8,098 | 6,381 | 1,022 | 2,891 | 1,703 | 1,405 | 1,441 | 273 | 18 | |
65 |
6,555 | 8,098 | 6,381 | 1,022 | 2,891 | 1,703 | 1,405 | 1,441 | 273 | 18 | |
9903 |
21,669 | 64,676 | 45,236 | 86,598 | 29,143 | 15,613 | 12,978 | 14,475 | 32,790 | 44,917 | |
67/77 |
8,909 | 23,575 | 16,242 | 23,161 | 9,034 | 4,445 | 2,959 | -567 | 9,655 | 15,174 | |
9904 |
12,760 | 41,100 | 28,994 | 63,437 | 20,109 | 11,168 | 10,020 | 15,042 | 23,135 | 29,742 | |
9905 |
12,760 | 41,100 | 28,994 | 63,437 | 20,109 | 11,168 | 10,020 | 15,042 | 23,135 | 29,742 | |
| Appropriation of the result | |||||||||||
9906 |
253,647 | 240,887 | 199,786 | 170,792 | 107,356 | 87,247 | 76,079 | 66,060 | 51,017 | 29,742 | |
14P |
240,887 | 199,786 | 170,792 | 107,356 | 87,247 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
| Social balance sheet | |||||||||||
9087 |
12.8 | 12.9 | 10.9 | 6.4 | 3.2 | 1 | 4.2 | 4.9 | - | - | |
Hours worked1013 |
23,164 | 23,668 | 19,819 | 10,820 | 4,727 | 1,624 | 7,170 | 7,999 | - | - | |
| Document | |||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-10-2026.
2025 annual accounts filed 76 days after the deadline. Filed on 15 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00559293.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-10-2026 | 2026-00559293 | |
| 31-12-2024 | abbreviated format | 31-08-2025 | 2025-00456407 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00418206 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00418856 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20353788 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-55300437 | |
| 31-12-2019 | abbreviated format | 30-11-2020 | 2020-73600206 | |
| 31-12-2018 | abbreviated format | 31-08-2019 | 2019-61600426 | |
| 31-12-2017 | abbreviated format | 19-08-2018 | 2018-47700403 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-55500554 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 125,895 | 155,546 | 92,746 | 103,846 | 38,906 | 43,522 | 19,676 | 34,283 | 48,929 | 50,009 | ||
| 110,455 | 124,164 | 70,214 | 80,037 | 27,289 | 38,699 | 18,048 | 34,590 | 39,529 | 35,176 | ||
| 91,809 | 129,350 | 251,092 | 69,175 | 2,459 | 42,649 | 23,889 | 99,154 | 54,800 | 24,252 | ||
| 62,096 | -15,695 | -97,021 | 126,735 | -174,248 | 149,532 | -2,437 | -6,875 | - | - | ||
| -43,490 | -33,227 | -33,751 | 95,250 | 84,388 | -66,303 | -60,611 | -51,838 | 8,053 | 23,324 | ||
| 7.4% | 10.6% | 7.2% | 6.1% | 5.3% | 8.1% | 18.9% | 13.5% | 11.1% | 11.4% | ||
| 0.99 | 0.98 | 0.99 | 1.03 | 1.04 | 0.94 | 0.84 | 0.90 | 1.02 | 1.07 | ||
| 0.92 | 0.91 | 0.97 | 1.02 | 1.02 | 0.80 | 0.82 | 0.88 | 1.02 | 1.07 | ||
| 12.54 | 8.42 | 12.98 | 15.45 | 18.03 | 11.31 | 4.30 | 6.42 | 8.02 | 7.79 | ||
| 4.8% | 16.1% | 13.5% | 34.3% | 16.5% | 11.0% | 11.1% | 18.7% | 35.4% | 70.6% | ||
| 0.4% | 1.7% | 1.0% | 2.1% | 0.9% | 0.9% | 2.1% | 2.5% | 3.9% | 8.0% | ||
| 19.21 | 19.21 | 14.53 | over 100 | 13.46 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 13 | 12 | 12 | 9 | 4 |
| full-time | 12 | 12 | 12 | 9 | 4 |
| part-time | 1 | - | - | - | - |
| in full-time equivalents | 12.2 | 12 | 12 | 9 | 4 |
| 12.8 | 12.9 | 10.9 | 6.4 | 3.2 | |
| On a permanent contract | 11 | 11 | 12 | 8 | 4 |
| Joined | 7 | 6 | 13 | 10 | 6 |
| Left | 6 | 6 | 10 | 5 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €91,809 | €129,350 | €251,092 | €69,175 | €2,459 |
| €97,695 | €83,064 | €41,220 | €16,600 | €7,181 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 61% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total rises from 89.4% to 92.6%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
LEMCON has no parent and no holdings in its annual accounts. PAUWELS Tim is the only director.
| VISMED
registered office since 17-02-2015 · founded in 2015 · group Finance & Management Executives |
turnover €22.9m (2025) 0598.725.075 |
| Finance & Management Executives
registered office since 07-08-2000 · founded in 2000 |
turnover €3.4m (2025) 0472.547.277 |
| FIVE YEARS
registered office since 01-01-2026 · founded in 2020 · group Finance & Management Executives |
total assets €31.9m (2025) 0741.597.662 |
| IWV INVEST
registered office since 22-08-2023 · founded in 2023 · group Finance & Management Executives |
total assets €25.3m (2025) 0804.999.733 |
| THV Invest
registered office since 29-09-2023 · founded in 2023 · group Finance & Management Executives |
total assets €11.8m (2025) 0801.560.686 |
| AARTMAN
registered office since 01-09-2015 · founded in 2015 |
total assets €9.7m (2025) 0635.933.582 |
| LAPA INVEST
registered office since 01-05-2023 · founded in 2023 · group Finance & Management Executives |
total assets €7.3m (2025) 0799.632.564 |
| KAAI LOFTEN
registered office since 28-11-2011 · founded in 2011 · group Finance & Management Executives |
total assets €5.6m (2025) 0841.400.071 |
| BMHT
registered office since 28-02-2026 · founded in 2022 · group Finance & Management Executives |
total assets €5.2m (2025) 0780.586.912 |
| STITAL INVEST
registered office since 01-03-2024 · founded in 2024 |
total assets €4.2m (2025) 1006.688.269 |
The network starts from the directors of LEMCON. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Naamsestraat 12 registered office 3000 Leuven | ||
| Tiensesteenweg 341 3010 Leuven | 01-09-2015 | 2.247.626.590 |
| 10-03-2023 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en met wijzigen van aantal woongelegenheden submitted 14-11-2022 · project 2022150426 | Blankenberge |
| 04-03-2022 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 17-12-2021 · project 2021188484 | Oostende |
| 25-02-2022 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 18-12-2021 · project 2021188510 | Oostende |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 24514A0060/00T003 | 1,210 m² | 1 · 588 m² | 4.7 m · 1 |
| 24504D0433/00C000 | 169 m² | 1 · 166 m² | 21.0 m · 6 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0635.934.671
If something looks wrong or is missing, please tell us.