LEXMAN
ActiveSummary
LEXMAN has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €608k and a net result of €49k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 56% of 3200 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-2
Solvency85▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 1.69 against 2.2 in 2024; short-term debt: 12.6% and cash: 8.8% of total assets), and 40% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60%
Return on assets
4.9%
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-03-2026, 129 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
129 d early
2024
139 d early
2023
114 d early
2022
84 d early
2021
86 d early
2020
81 d early
2019
78 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€220k
2024 · €0
2018: €0lowest in 8 years
2019: €0lowest in 8 years
2020: €0lowest in 8 years
2021: €0lowest in 8 years
2022: €0lowest in 8 years
2023: €0lowest in 8 years
2024: €0lowest in 8 years
2025: €220khighest in 8 years
2018 → 2025
EBIT margin
38.8%
Net result
€49k▼ 62.1%
2024 · €130k
2018: €61k
2019: €54k▼ -12.0% vs 2018
2020: €47k▼ -13.9% vs 2019lowest in 8 years
2021: €82k▲ +75.9% vs 2020
2022: €167k▲ +103% vs 2021highest in 8 years
2023: €62k▼ -63.0% vs 2022
2024: €130k▲ +110% vs 2023
2025: €49k▼ -62.1% vs 2024
2018 → 2025
Working capital
€88k▼ 24.7%
2024 · €117k
2018: €-30klowest in 8 years
2019: €-12k▲ +60.3% vs 2018
2020: €-8k▲ +34.6% vs 2019
2021: €-2k▲ +79.5% vs 2020
2022: €83k▲ +5313% vs 2021
2023: €54k▼ -35.6% vs 2022
2024: €117k▲ +119% vs 2023highest in 8 years
2025: €88k▼ -24.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€0-€0€0€0€220k
2021: €0lowest in 5 years
2022: €0lowest in 5 years
2023: €0lowest in 5 years
2024: €0lowest in 5 years
2025: €220khighest in 5 years
Equity€401k-€509k▲ 27.0%€529k▲ 4.0%€605k▲ 14.3%€608k▲ 0.4%
2021: €401klowest in 5 years
2022: €509k▲ +27.0% vs 2021
2023: €529k▲ +4.0% vs 2022
2024: €605k▲ +14.3% vs 2023
2025: €608k▲ +0.4% vs 2024highest in 5 years
Operating result€127k-€248k▲ 95.2%€99k▼ 59.9%€201k▲ 102%€85k▼ 57.5%
2021: €127k
2022: €248k▲ +95.2% vs 2021highest in 5 years
2023: €99k▼ -59.9% vs 2022
2024: €201k▲ +102% vs 2023
2025: €85k▼ -57.5% vs 2024lowest in 5 years
Net result€82k-€167k▲ 103%€62k▼ 63.0%€130k▲ 110%€49k▼ 62.1%
2021: €82k
2022: €167k▲ +103% vs 2021highest in 5 years
2023: €62k▼ -63.0% vs 2022
2024: €130k▲ +110% vs 2023
2025: €49k▼ -62.1% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.01M
Fixed assets
€798k ▲ 2.8%
Current assets
€215k ▲ 0.2%
Equity and liabilities €1.01M
Equity
€608k ▲ 0.4%
Debt
€405k ▲ 5.1%
Debt's share of the balance-sheet total rises from 38.9% to 40.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€110k▼
2024 · €216k
Cash flow
€74k▼
2024 · €145k
Current ratio
1.69▼
2024 · 2.20
Debt to equity
0.67▲
2024 · 0.64
ROE
8.1%▼
2024 · 21.4%
ROA
4.9%▼
2024 · 13.1%
Interest coverage
12.01▼
2024 · 23.93
Debt ≤ 1 year
€127k▲
2024 · €98k
Debt > 1 year
€278k▼
2024 · €288k
Income taxes
€27k▼
2024 · €62k
Staff costs
€2k=
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€990k€1.01M▲
Fixed assets21/28€776k€798k▲
Tangible fixed assets22/27€394k€416k▲
Land and buildings22€393k€388k▼
Plant, machinery and equipment23€0€0=
Furniture and vehicles24€1k€28k▲
Financial fixed assets28€381k€381k=
Current assets29/58€215k€215k▲
Amounts receivable after more than one year29€0€0=
Trade receivables290€0€0=
Amounts receivable within one year40/41€50k€0▼
Trade receivables40€0€0=
Other amounts receivable41€50k€0▼
Current investments50/53€125k€125k=
Cash at bank and in hand54/58€40k€89k▲
Deferred charges and accrued income490/1€0€957▲
Equity and liabilities
Total equity and liabilities10/49€990k€1.01M▲
Equity10/15€605k€608k▲
Contributions10/11€85k€85k=
Reserves13€487k€489k▲
Non-distributable reserves130/1€0€0=
Reserves not available under the articles1311€0€0=
Distributable reserves133€487k€489k▲
Profit (loss) carried forward14€33k€33k=
Amounts payable17/49€385k€405k▲
Amounts payable after more than one year17€288k€278k▼
Financial debts170/4€288k€278k▼
Amounts payable within one year42/48€98k€127k▲
Current portion of amounts payable after more than one year42€26k€39k▲
Trade debts44€0€136▲
Suppliers440/4€0€136▲
Taxes, remuneration and social security45€15k€18k▲
Taxes450/3€15k€18k▲
Other amounts payable47/48€57k€70k▲
Accrued charges and deferred income492/3€0€0=
Income statement
Code20242025
Turnover70€0€220k▲
Goods, raw materials, services and sundry goods60/61€0€141k▲
Remuneration, social security and pensions62€2k€2k=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€25k▲
Other operating charges640/8€4k€6k▲
Gross operating margin9900€221k€118k▼
Operating profit (loss)9901€201k€85k▼
Financial income75/76B€123€0▼
Recurring financial income75€123€0▼
Financial charges65/66B€9k€9k▲
Recurring financial charges65€9k€9k▲
Profit (loss) for the period before taxes9903€192k€76k▼
Income taxes67/77€62k€27k▼
Profit (loss) for the period9904€130k€49k▼
Profit (loss) for the period to be appropriated9905€130k€49k▼
Appropriation of the result
Profit (loss) to be appropriated9906€163k€82k▼
Profit (loss) brought forward from the previous period14P€33k€33k=
Transfer from equity791/2€54k€47k▼
Transfer to equity691/2€130k€49k▼
To the legal reserve6920€0€0=
To other reserves6921€130k€49k▼
Profit to be distributed694/7€54k€47k▼
Return on contributions (dividend)694€54k€47k▼
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €0 | €0 | €0 | €0 | €220k | - |
| Goods, raw materials, services and sundry goods60/61 | €0 | €0 | €0 | €0 | €141k | - |
| Remuneration, social security and pensions62 | €2k | €2k | €2k | €2k | €2k | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €23k | €30k | €16k | €25k | ▲ 58.4% |
| Other operating charges640/8 | €3k | €2k | €2k | €4k | €6k | ▲ 81.1% |
| Gross operating margin9900 | €154k | €274k | €133k | €221k | €118k | ▼ 46.7% |
| Operating profit (loss)9901 | €127k | €248k | €99k | €201k | €85k | ▼ 57.5% |
| Financial income75/76B | €48 | €128 | €0 | €123 | €0 | ▼ 100% |
| Recurring financial income75 | €48 | €128 | €0 | €123 | €0 | ▼ 100% |
| Financial charges65/66B | €6k | €3k | €9k | €9k | €9k | ▲ 1.4% |
| Recurring financial charges65 | €6k | €3k | €9k | €9k | €9k | ▲ 1.4% |
| Profit (loss) for the period before taxes9903 | €121k | €245k | €91k | €192k | €76k | ▼ 60.3% |
| Income taxes67/77 | €39k | €78k | €29k | €62k | €27k | ▼ 56.7% |
| Profit (loss) for the period9904 | €82k | €167k | €62k | €130k | €49k | ▼ 62.1% |
| Profit (loss) for the period to be appropriated9905 | €82k | €167k | €62k | €130k | €49k | ▼ 62.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €738k | €795k | €971k | €990k | €1.01M | ▲ 2.3% |
| Fixed assets21/28 | €603k | €580k | €791k | €776k | €798k | ▲ 2.8% |
| Tangible fixed assets22/27 | €221k | €199k | €410k | €394k | €416k | ▲ 5.5% |
| Land and buildings22 | €187k | €181k | €407k | €393k | €388k | ▼ 1.2% |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | - |
| Furniture and vehicles24 | €34k | €18k | €3k | €1k | €28k | ▲ 2,281% |
| Financial fixed assets28 | €381k | €381k | €381k | €381k | €381k | = |
| Current assets29/58 | €136k | €215k | €180k | €215k | €215k | ▲ 0.2% |
| Amounts receivable after more than one year29 | €0 | - | €0 | €0 | €0 | - |
| Trade receivables290 | €0 | - | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €0 | €1k | €33k | €50k | €0 | ▼ 100% |
| Trade receivables40 | €0 | - | €0 | €0 | €0 | - |
| Other amounts receivable41 | €0 | €1k | €33k | €50k | €0 | ▼ 100% |
| Current investments50/53 | €125k | €125k | €125k | €125k | €125k | = |
| Cash at bank and in hand54/58 | €10k | €89k | €22k | €40k | €89k | ▲ 125% |
| Deferred charges and accrued income490/1 | €732 | €236 | €31 | €0 | €957 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €738k | €795k | €971k | €990k | €1.01M | ▲ 2.3% |
| Equity10/15 | €401k | €509k | €529k | €605k | €608k | ▲ 0.4% |
| Contributions10/11 | €60k | €60k | €85k | €85k | €85k | = |
| Reserves13 | €308k | €416k | €411k | €487k | €489k | ▲ 0.5% |
| Non-distributable reserves130/1 | €25k | €25k | €0 | €0 | €0 | - |
| Reserves not available under the articles1311 | €25k | €25k | €0 | €0 | €0 | - |
| Distributable reserves133 | €283k | €391k | €411k | €487k | €489k | ▲ 0.5% |
| Profit (loss) carried forward14 | €33k | €33k | €33k | €33k | €33k | = |
| Amounts payable17/49 | €337k | €286k | €442k | €385k | €405k | ▲ 5.1% |
| Amounts payable after more than one year17 | €198k | €154k | €314k | €288k | €278k | ▼ 3.3% |
| Financial debts170/4 | €198k | €154k | €314k | €288k | €278k | ▼ 3.3% |
| Amounts payable within one year42/48 | €137k | €132k | €126k | €98k | €127k | ▲ 30.1% |
| Current portion of amounts payable after more than one year42 | €52k | €45k | €36k | €26k | €39k | ▲ 50.9% |
| Trade debts44 | €375 | - | €275 | €0 | €136 | - |
| Suppliers440/4 | €375 | - | €275 | €0 | €136 | - |
| Taxes, remuneration and social security45 | €26k | €29k | €9k | €15k | €18k | ▲ 16.2% |
| Taxes450/3 | €26k | €29k | €9k | €15k | €18k | ▲ 16.2% |
| Other amounts payable47/48 | €58k | €59k | €81k | €57k | €70k | ▲ 24.1% |
| Accrued charges and deferred income492/3 | €1k | - | €2k | €0 | €0 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82k | €167k | €62k | €130k | €49k | ▼ 62.1% |
| + Depreciation and write-downs630 | €22k | €23k | €30k | €16k | €25k | ▲ 58.4% |
| Operating cash flow (approximation) | €104k | €190k | €92k | €145k | €74k | ▼ 49.1% |
| Investment in fixed assets (approximation) | - | €0 | €-242k | €0 | €-47k | - |
| Change in cash | - | €79k | €-67k | €18k | €50k | ▲ 180% |
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
24-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
14-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €167k ▲103%
Operating result €248k, net result €167k, both a record.
31-12
Financial
Equity above €500kEq €509k ▲27%
5 profitable years in a row build equity to €509k.
06-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
11-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €47k ▼13.9%
Net result drops to €47k, the lowest in the series; recovery starts the following year.
14-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
09-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
03-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
05-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Liège
Ground area
661 m²
Building footprint
279 m²
Volume, LiDAR
2,050 m³
Parcel 62023A0595/00D002, Wallonia · tallest building 14.4 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62023A0595/00D002 | Wallonia | 661 m² | 1 · 279 m² | 14.4 m · 2 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 32,972 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.