Checked.be
Active
BE 0466.882.873Private limited company (pre-2019)
LEMON TREE
Broederspad 15 ·3550 Heusden-Zolder, Belgium· 26 yrs active
Sector: Renting and operating of own or leased residential real estate, excluding social housing
(68201)
Conclusion
LEMON TREE has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144k and a net result of €12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 50% of 13549 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €144k |
| Net result | €12k |
| Better than sector | 50% |
| Active | 26 yrs |
Financial profile
62
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
51
Profitability
40
Solvency
41
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1999, 26 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.
Checked score
51
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€7k
estimate, not credit advice
Score history
10
2021
7
2022
33
2023
56
2024
51
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.72 (< 1.0)
-10
Profitability
ROE 8%
+3
Interest coverage
Interest coverage 182.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 01-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Net result: growth of ~51.6%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 68, Real estate activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 30.2% | 29.9% | |
| Net result | €12k | €6k | |
| Equity | €144k | €79k | |
| Gross operating margin | €35k | €41k | |
| Staff costs | €5k | €28k |
€28k
-87.4%
21-25
€12k
-94.2%
21-25
€24k
-88.9%
21-25
€476k
-11.4%
21-25
€144k
+8.7%
21-25
€-94k
+20.1%
21-25
1
-
21-25
€5k
-80.5%
21-25
€4k
-59.5%
21-25
€333k
-17.9%
21-25
€333k
-17.9%
21-25
0.72
+1.1%
21-25
0.72
+1.1%
21-25
30.2%
+22.7%
21-25
2.31
-24.5%
21-25
8.0%
-94.7%
21-25
2.4%
-93.5%
21-25
182.84
-87.4%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €28k | €223k | €8k | €-2k | €-4k |
| Net profit | €12k | €200k | €-12k | €-22k | €-21k |
| Cash flow | €24k | €212k | €8k | €-5k | €-4k |
| Staff costs | €5k | €27k | €16k | €38k | €24k |
| Income taxes | €4k | €10k | - | €3k | - |
| Dividends | - | - | - | - | - |
| Total assets | €476k | €537k | €457k | €417k | €400k |
| Equity | €144k | €132k | €-68k | €-56k | €-34k |
| Debt | €333k | €405k | €525k | €473k | €435k |
| of which ≤ 1y | €333k | €405k | €525k | €473k | €435k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-94k | €-118k | €-516k | €-460k | €-417k |
| Employees (FTE) | - | - | - | - | 0.8 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.72 | 0.71 | 0.02 | 0.03 | 0.04 |
| Quick ratio | 0.72 | 0.71 | 0.02 | 0.03 | 0.04 |
| Working capital ratio | -19.8% | -21.9% | -112.9% | -110.5% | -104.1% |
| Solvency | 30.2% | 24.6% | -14.9% | -13.5% | -8.6% |
| Debt / equity | 2.31 | 3.06 | -7.72 | -8.40 | -12.66 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 182.84 | 1454.71 | 50.73 | -13.30 | -41.99 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 2.4% | 37.3% | -2.6% | -5.3% | -5.2% |
| ROE | 8.0% | 151.5% | 17.2% | 39.0% | 60.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €476k | €537k | €457k | €417k | €400k |
| Fixed assets | 21/28 | €238k | €250k | €448k | €404k | €382k |
| Tangible fixed assets | 22/27 | €238k | €250k | €448k | €404k | €382k |
| Financial fixed assets | 28 | €209 | €209 | €209 | €209 | €209 |
| Current assets | 29/58 | €238k | €287k | €9k | €13k | €18k |
| Amounts receivable within one year | 40/41 | €220k | €282k | €3k | €5k | €5k |
| Cash & bank | 54/58 | €18k | €4k | €4k | €7k | €13k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €476k | €537k | €457k | €417k | €400k |
| Equity | 10/15 | €144k | €132k | €-68k | €-56k | €-34k |
| Contributions / capital | 10/11 | €120k | €120k | €120k | €120k | €120k |
| Reserves | 13 | €24k | €12k | €9k | €9k | €9k |
| Accumulated profits (losses) | 14 | - | - | €-197k | €-185k | €-163k |
| Amounts payable | 17/49 | €333k | €405k | €525k | €473k | €435k |
| Amounts payable within one year | 42/48 | €333k | €405k | €525k | €473k | €435k |
| Trade debts payable within one year | 44 | €819 | €1k | €41k | €2k | - |
| Income statement | ||||||
| Gross operating margin | 9900 | €35k | €255k | €28k | €40k | €24k |
| Operating result | 9901 | €16k | €211k | €-12k | €-19k | €-21k |
| Financial charges | 65 | €153 | €153 | €153 | €153 | €90 |
| Result before taxes | 9903 | €16k | €211k | €-12k | €-19k | €-21k |
| Income taxes | 67/77 | €4k | €10k | - | €3k | - |
| Net result for the period | 9904 | €12k | €200k | €-12k | €-22k | €-21k |
| Result to be appropriated | 9905 | €12k | €200k | €-12k | €-22k | €-21k |
Legal Structure
| NACE primary | Renting and operating of own or leased residential real estate, excluding social housing(68201) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 17-09-1999 |
| Status | Active |
| Postal code | 3550 |
Establishment units
LEMON TREE
since 19992.092.899.417
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71462D0579/00C003 | Flanders | 4,151 m² | 1 · 343 m² | 8.6 m · 2 fl. |
| 71462D0340/00Y000 | Flanders | 450 m² | - | - |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Back to profitnet €200k
Net result €200k after 3 loss-making years.
31-12
Financial
Equity above €100kEq €132k
Equity rises from €-68k to €132k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-22k
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
23-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 54 days late
2021
08-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 100 days late
2020
23-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 115 days late
15-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 259 days late
2018
29-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 90 days late
2017
19-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 50 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Renting and operating of own or leased residential real estate, excluding social housing68201
Names & trade names
| Legal nameNL | LEMON TREE |
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