LGC CONSTRUCT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 18 filings
Turnover
≈ €570,000
Estimated: probably between €410,000 and €880,000
Total assets
€603,740▲ 46.0%
2024 · €413,552
Net result
€113,699▲ 21.3%
2024 · €93,719
Working capital
€337,670▲ 64.5%
2024 · €205,297
In the rankings
#9 company by equity in Steenokkerzeel, Construction sector#10 company by total assets in Steenokkerzeel, Construction sector
Multi-year overview
2018 to 2025, 7 financial yearsOperating result
€152,420
▲ 21.5%
2025
20182025
Net result
€113,699
▲ 21.3%
2025
highest quarter of the sector
20182025
Equity
€367,564
▲ 44.8%
2025
highest quarter of the sector
20182025
Total assets
€603,740
▲ 46.0%
2025
highest quarter of the sector
20182025
Debt
€236,176
▲ 47.9%
2025
20182025
Working capital
€337,670
▲ 64.5%
2025
highest quarter of the sector
20182025
Solvency
60.9%
▼ 0.5pp
2025
middle half of the sector
20182025
Current ratio
2.55
▲ 0.13
2025
middle half of the sector
20182025
Return on assets (ROA)
18.8%
▼ 3.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920212022202320242025
Operating result€101,292-€97,981▼ 3.3%€74,883▼ 23.6%€125,492▲ 67.6%€152,420▲ 21.5%
Net result€79,867above the sector's middle half-€68,584above the sector's middle half▼ 14.1%€50,217above the sector's middle half▼ 26.8%€93,719above the sector's middle half▲ 86.6%€113,699above the sector's middle half▲ 21.3%
Equity-€28,523--€28,523=€51,344within the sector's middle half-€119,928above the sector's middle half▲ 134%€170,145above the sector's middle half▲ 41.9%€253,864above the sector's middle half▲ 49.2%€367,564above the sector's middle half▲ 44.8%
Total assets€1-€1=€79,269within the sector's middle half-€175,211within the sector's middle half▲ 121%€259,290within the sector's middle half▲ 48.0%€413,552above the sector's middle half▲ 59.5%€603,740above the sector's middle half▲ 46.0%
Debt€28,524-€28,524=€27,925-€55,283▲ 98.0%€89,145▲ 61.3%€159,688▲ 79.1%€236,176▲ 47.9%
Working capital-€28,523--€28,523=€51,344within the sector's middle half-€87,860above the sector's middle half▲ 71.1%€113,165above the sector's middle half▲ 28.8%€205,297above the sector's middle half▲ 81.4%€337,670above the sector's middle half▲ 64.5%
Solvency64.8%above the sector's middle half-68.4%above the sector's middle half▲ 3.7pp65.6%above the sector's middle half▼ 2.8pp61.4%within the sector's middle half▼ 4.2pp60.9%within the sector's middle half▼ 0.5pp
Current ratio2.84above the sector's middle half-3.00above the sector's middle half▲ 0.162.80within the sector's middle half▼ 0.202.42within the sector's middle half▼ 0.382.55within the sector's middle half▲ 0.13
Return on assets (ROA)100.8%above the sector's middle half-39.1%above the sector's middle half▼ 61.6pp19.4%above the sector's middle half▼ 19.8pp22.7%above the sector's middle half▲ 3.3pp18.8%within the sector's middle half▼ 3.8pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 21% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €603,740
Fixed assets
€47,894 ▼ 24.4%
Current assets
€555,846 ▲ 58.7%
Equity and liabilities €603,740
Equity
€367,564 ▲ 44.8%
Debt
€236,176 ▲ 47.9%
Debt's share of the balance-sheet total rises from 38.6% to 39.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€172,965▲
2024 · €145,206
Cash flow
€134,244▲
2024 · €113,433
Quick ratio
2.53▲
2024 · 2.38
Debt to equity
0.64▲
2024 · 0.63
ROE
30.9%▼
2024 · 36.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€218,176▲
2024 · €144,884
Income taxes
€44,197▲
2024 · €29,655
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €47,611 | €50,960 | - | €5,068 |
| Depreciation and write-downs of the year | €4,288 | €11,198 | €19,714 | €20,545 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,479 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €4,288 | €11,198 | €19,714 | €20,545 | ▲ 4.2% |
| Other operating charges640/8 | - | - | - | €1,650 | €671 | €594 | €1,347 | ▲ 127% |
| Gross operating margin9900 | €0 | - | €104,377 | €103,919 | €86,752 | €145,800 | €174,312 | ▲ 19.6% |
| Operating profit (loss)9901 | - | - | €101,292 | €97,981 | €74,883 | €125,492 | €152,420 | ▲ 21.5% |
| Financial income75/76B | - | - | - | €788 | €889 | €3,501 | €6,683 | ▲ 90.9% |
| Recurring financial income75 | - | - | €77 | €788 | €889 | €3,501 | €6,683 | ▲ 90.9% |
| Financial charges65/66B | - | - | - | €1,039 | €1,297 | €5,619 | €1,206 | ▼ 78.5% |
| Recurring financial charges65 | - | - | €2 | €1,039 | €1,297 | €1,096 | €1,206 | ▲ 10.0% |
| Non-recurring financial charges66B | - | - | - | - | - | €4,523 | - | - |
| Profit (loss) for the period before taxes9903 | - | - | €101,367 | €97,731 | €74,475 | €123,374 | €157,897 | ▲ 28.0% |
| Income taxes67/77 | - | - | €21,500 | €29,146 | €24,258 | €29,655 | €44,197 | ▲ 49.0% |
| Profit (loss) for the period9904 | - | - | €79,867 | €68,584 | €50,217 | €93,719 | €113,699 | ▲ 21.3% |
| Profit (loss) for the period to be appropriated9905 | - | - | €79,867 | €68,584 | €50,217 | €93,719 | €113,699 | ▲ 21.3% |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1 | €1 | €79,269 | €175,211 | €259,290 | €413,552 | €603,740 | ▲ 46.0% |
| Fixed assets21/28 | - | - | - | €43,323 | €83,085 | €63,371 | €47,894 | ▼ 24.4% |
| Tangible fixed assets22/27 | - | - | - | €43,323 | €83,085 | €63,371 | €47,894 | ▼ 24.4% |
| Plant, machinery and equipment23 | - | - | - | €6,924 | €10,869 | €7,997 | €6,663 | ▼ 16.7% |
| Furniture and vehicles24 | - | - | - | €8,533 | €6,671 | €4,809 | €5,645 | ▲ 17.4% |
| Leasing and similar rights25 | - | - | - | €27,867 | €65,545 | €50,565 | €35,585 | ▼ 29.6% |
| Current assets29/58 | €1 | €1 | €79,269 | €131,888 | €176,205 | €350,181 | €555,846 | ▲ 58.7% |
| Stocks and contracts in progress3 | - | - | - | - | €9,750 | €4,820 | €4,470 | ▼ 7.3% |
| Stocks30/36 | - | - | - | - | €9,750 | €4,820 | €4,470 | ▼ 7.3% |
| Amounts receivable within one year40/41 | €1 | €1 | €62,947 | €59,534 | €113,958 | €207,939 | €429,883 | ▲ 107% |
| Trade receivables40 | - | - | - | €27,432 | €73,658 | €122,845 | €160,494 | ▲ 30.6% |
| Other amounts receivable41 | - | - | - | €32,102 | €40,300 | €85,094 | €269,389 | ▲ 217% |
| Cash at bank and in hand54/58 | - | - | €16,322 | €69,927 | €49,549 | €133,279 | €116,783 | ▼ 12.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,428 | €2,948 | €4,143 | €4,710 | ▲ 13.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1 | €1 | €79,269 | €175,211 | €259,290 | €413,552 | €603,740 | ▲ 46.0% |
| Equity10/15 | -€28,523 | -€28,523 | €51,344 | €119,928 | €170,145 | €253,864 | €367,564 | ▲ 44.8% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €650 | €650 | €38,650 | €106,650 | €156,650 | €240,150 | €340,150 | ▲ 41.6% |
| Non-distributable reserves130/1 | - | - | - | €650 | €650 | €650 | €650 | = |
| Reserves not available under the articles1311 | - | - | - | €650 | €650 | €650 | €650 | = |
| Distributable reserves133 | - | - | - | €106,000 | €156,000 | €239,500 | €339,500 | ▲ 41.8% |
| Profit (loss) carried forward14 | -€41,573 | -€41,573 | €294 | €878 | €1,095 | €1,314 | €15,014 | ▲ 11× |
| Amounts payable17/49 | €28,524 | €28,524 | €27,925 | €55,283 | €89,145 | €159,688 | €236,176 | ▲ 47.9% |
| Amounts payable after more than one year17 | - | - | - | €11,094 | €26,105 | €9,804 | - | - |
| Financial debts170/4 | - | - | - | €11,094 | €26,105 | €9,804 | - | - |
| Amounts payable within one year42/48 | €28,524 | €28,524 | €27,925 | €44,029 | €63,039 | €144,884 | €218,176 | ▲ 50.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,190 | €17,129 | €17,129 | €16,711 | ▼ 2.4% |
| Financial debts43 | - | - | - | €5,000 | €5,000 | €5,083 | €5,083 | = |
| Credit institutions430/8 | - | - | - | €5,000 | €5,000 | €5,083 | €5,083 | = |
| Trade debts44 | - | - | €5,727 | €21,424 | €35,702 | €100,576 | €171,882 | ▲ 70.9% |
| Suppliers440/4 | - | - | - | €21,424 | €35,702 | €100,576 | €171,882 | ▲ 70.9% |
| Taxes, remuneration and social security45 | - | - | - | €9,000 | €5,000 | €12,000 | €24,500 | ▲ 104% |
| Taxes450/3 | - | - | - | €9,000 | €5,000 | €12,000 | €24,500 | ▲ 104% |
| Other amounts payable47/48 | - | - | - | €1,415 | €208 | €10,096 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €160 | - | €5,000 | €18,000 | ▲ 260% |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | - | - | €79,867 | €68,584 | €50,217 | €93,719 | €113,699 | ▲ 21.3% |
| + Depreciation and write-downs630 | - | - | - | €4,288 | €11,198 | €19,714 | €20,545 | ▲ 4.2% |
| Operating cash flow (approximation) | - | - | €79,867 | €72,872 | €61,415 | €113,433 | €134,244 | ▲ 18.3% |
| Investment in fixed assets (approximation) | - | - | - | - | -€50,960 | €0 | -€5,068 | - |
| Change in cash | - | - | - | €53,605 | -€20,378 | €83,730 | -€16,496 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as LGC CONSTRUCT has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of LGC CONSTRUCT itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 20,136 companies, not a prediction for LGC CONSTRUCT. 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00022969 | |
| 30-06-2024 | micro format | 23-01-2025 | 2025-00011108 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00019309 | |
| 30-06-2022 | micro format | 29-01-2023 | 2023-00016151 | |
| 30-06-2021 | micro format | 03-01-2022 | 2022-00100269 | |
| 31-12-2019 | micro format | 20-10-2020 | 2020-62100018 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59800019 | |
| 31-12-2017 | micro format | 26-09-2018 | 2018-65100554 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56300074 | |
| 31-12-2015 | abbreviated format | 30-08-2016 | 2016-56200310 |