LGS Construct
ActiveSummary
The computed 12-month bankruptcy probability of LGS Construct is 1.7% (moderate). The 2025 annual accounts show negative equity (-€23,281) and a net result of €11,375. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 28254 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth62=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.66 against 0.41 in 2024; short-term debt: 108.4% and cash: 18.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-130.7%
Return on assets
63.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 5%
← weakest
strongest →
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 27-07-2026, 4 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
4 d early
2024
60 d late
2023
29 d late
2022
29 d late
2021
29 d late
2020
31 d late
2019
73 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€177,509▲ 44.2%
2022 · €123,098
EBIT margin
0.3%=
2022 · 0.3%
Net result
€11,375▼ 41.0%
2024 · €19,272
Working capital
-€6,664▲ 86.1%
2024 · -€47,844
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€128,960▲ 0.8%€123,098▼ 4.5%€177,509▲ 44.2%
Operating result-€40,401€386€587▲ 52.1%€20,782▲ 3,440%€13,612▼ 34.5%
Net result-€42,628below the sector's middle half-€3,109below the sector's middle half▲ 92.7%-€1,411below the sector's middle half▲ 54.6%€19,272within the sector's middle half€11,375within the sector's middle half▼ 41.0%
EBIT margin-31.3%▼ 36.8pp0.3%▲ 31.6pp0.3%=
Equity-€49,407below the sector's middle half▼ 629%-€52,516below the sector's middle half▼ 6.3%-€53,927below the sector's middle half▼ 2.7%-€34,656below the sector's middle half▲ 35.7%-€23,281below the sector's middle half▲ 32.8%
Total assets€73,016within the sector's middle half▼ 6.6%€43,072below the sector's middle half▼ 41.0%€86,411within the sector's middle half▲ 101%€46,679below the sector's middle half▼ 46.0%€17,816below the sector's middle half▼ 61.8%
Debt€122,423▲ 44.1%€95,588▼ 21.9%€140,338▲ 46.8%€81,335▼ 42.0%€41,097▼ 49.5%
Working capital-€69,694below the sector's middle half▼ 228%-€72,594below the sector's middle half▼ 4.2%-€72,144below the sector's middle half▲ 0.6%-€47,844below the sector's middle half▲ 33.7%-€6,664below the sector's middle half▲ 86.1%
Solvency-67.7%below the sector's middle half▼ 59.0pp-121.9%below the sector's middle half▼ 54.3pp-62.4%below the sector's middle half▲ 59.5pp-74.2%below the sector's middle half▼ 11.8pp-130.7%below the sector's middle half▼ 56.4pp
Current ratio0.30below the sector's middle half▼ 0.300.12below the sector's middle half▼ 0.180.47below the sector's middle half▲ 0.360.41below the sector's middle half▼ 0.060.66below the sector's middle half▲ 0.24
Return on assets (ROA)-58.4%below the sector's middle half▼ 63.6pp-7.2%below the sector's middle half▲ 51.2pp-1.6%below the sector's middle half▲ 5.6pp41.3%above the sector's middle half▲ 42.9pp63.8%above the sector's middle half▲ 22.6pp
Staff (FTE)0.9▼ 52.6%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17,816
Fixed assets
€5,159 ▼ 60.9%
Current assets
€12,657 ▼ 62.2%
Key figures and ratios
EBITDA
€21,641▼
2024 · €33,731
Cash flow
€19,404▼
2024 · €32,221
Debt to equity
-1.77▲
2024 · -2.35
Interest coverage
9.67▼
2024 · 21.60
Debt ≤ 1 year
€19,321▼
2024 · €81,335
Debt > 1 year
€21,776
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,178 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,178 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €128,960 | €123,098 | €177,509 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €106,531 | €107,772 | €163,744 | - | - | - |
| Remuneration, social security and pensions62 | €48,430 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,070 | €12,958 | €13,029 | €12,949 | €8,029 | ▼ 38.0% |
| Other operating charges640/8 | €330 | €1,982 | €149 | €1,836 | €1,236 | ▼ 32.7% |
| Non-recurring operating charges66A | - | - | - | - | €9,425 | - |
| Gross operating margin9900 | €22,429 | €15,326 | €13,765 | €35,567 | €32,303 | ▼ 9.2% |
| Operating profit (loss)9901 | -€40,401 | €386 | €587 | €20,782 | €13,612 | ▼ 34.5% |
| Financial income75/76B | - | - | - | €52 | €0 | ▼ 99.3% |
| Recurring financial income75 | - | - | - | €52 | €0 | ▼ 99.3% |
| Financial charges65/66B | €2,227 | €3,495 | €1,998 | €1,562 | €2,238 | ▲ 43.3% |
| Recurring financial charges65 | €2,227 | €3,495 | €1,998 | €1,562 | €2,238 | ▲ 43.3% |
| Profit (loss) for the period before taxes9903 | -€42,628 | -€3,109 | -€1,411 | €19,272 | €11,375 | ▼ 41.0% |
| Profit (loss) for the period9904 | -€42,628 | -€3,109 | -€1,411 | €19,272 | €11,375 | ▼ 41.0% |
| Profit (loss) for the period to be appropriated9905 | -€42,628 | -€3,109 | -€1,411 | €19,272 | €11,375 | ▼ 41.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73,016 | €43,072 | €86,411 | €46,679 | €17,816 | ▼ 61.8% |
| Fixed assets21/28 | €43,151 | €33,628 | €22,246 | €13,189 | €5,159 | ▼ 60.9% |
| Tangible fixed assets22/27 | €43,151 | €33,628 | €22,246 | €13,189 | €5,159 | ▼ 60.9% |
| Plant, machinery and equipment23 | €42,391 | €33,328 | €22,246 | €13,189 | €5,159 | ▼ 60.9% |
| Furniture and vehicles24 | €760 | €300 | - | - | - | - |
| Current assets29/58 | €29,865 | €9,444 | €64,165 | €33,490 | €12,657 | ▼ 62.2% |
| Amounts receivable within one year40/41 | €24,721 | €9,444 | €64,165 | €26,836 | €9,329 | ▼ 65.2% |
| Trade receivables40 | €24,721 | €9,444 | €64,165 | €26,836 | €9,329 | ▼ 65.2% |
| Cash at bank and in hand54/58 | €5,144 | - | - | €2,654 | €3,328 | ▲ 25.4% |
| Deferred charges and accrued income490/1 | - | - | - | €4,000 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73,016 | €43,072 | €86,411 | €46,679 | €17,816 | ▼ 61.8% |
| Equity10/15 | -€49,407 | -€52,516 | -€53,927 | -€34,656 | -€23,281 | ▲ 32.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€57,467 | -€60,576 | -€61,987 | -€42,716 | -€31,341 | ▲ 26.6% |
| Amounts payable17/49 | €122,423 | €95,588 | €140,338 | €81,335 | €41,097 | ▼ 49.5% |
| Amounts payable after more than one year17 | €22,864 | €13,550 | €4,029 | - | €21,776 | - |
| Financial debts170/4 | €22,864 | €13,550 | €4,029 | - | €21,776 | - |
| Amounts payable within one year42/48 | €99,559 | €82,038 | €136,309 | €81,335 | €19,321 | ▼ 76.2% |
| Current portion of amounts payable after more than one year42 | €9,112 | €9,314 | €10,305 | €4,029 | €5,062 | ▲ 25.6% |
| Financial debts43 | €4,631 | €5,443 | €4,017 | €5,116 | €4,907 | ▼ 4.1% |
| Credit institutions430/8 | - | - | - | €5,116 | €4,907 | ▼ 4.1% |
| Other loans439 | €4,631 | €5,443 | €4,017 | - | - | - |
| Trade debts44 | €7,298 | €9,230 | €54,452 | €24,371 | €2,926 | ▼ 88.0% |
| Suppliers440/4 | €7,298 | €9,230 | €54,452 | €24,371 | €2,926 | ▼ 88.0% |
| Taxes, remuneration and social security45 | €28,669 | €11,043 | €31,989 | €30,025 | €6,123 | ▼ 79.6% |
| Taxes450/3 | €9,959 | €11,043 | €31,989 | €30,025 | €6,123 | ▼ 79.6% |
| Remuneration and social security454/9 | €18,710 | - | - | - | - | - |
| Other amounts payable47/48 | €49,849 | €47,008 | €35,546 | €17,793 | €303 | ▼ 98.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€42,628 | -€3,109 | -€1,411 | €19,272 | €11,375 | ▼ 41.0% |
| + Depreciation and write-downs630 | €14,070 | €12,958 | €13,029 | €12,949 | €8,029 | ▼ 38.0% |
| Operating cash flow (approximation) | -€28,558 | €9,849 | €11,618 | €32,221 | €19,404 | ▼ 39.8% |
| Investment in fixed assets (approximation) | - | -€3,435 | -€1,647 | -€3,891 | €0 | ▲ 100% |
| Change in cash | - | - | - | - | €674 | - |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Back to profitnet €19,272
Net result €19,272 after 3 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Weakest financial yearnet -€42,628
Net result drops to -€42,628, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €26,499
Net result €26,499 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Jodoigne · 1 establishment unit since 2017
Ground area
1,396 m²
Building footprint
106 m²
Volume, LiDAR
663 m³
Parcel 25085A0104/00E000, Wallonia · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LGS Construct
since 20172.261.386.734
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25085A0104/00E000 | Wallonia | 1,396 m² | 1 · 106 m² | 7.6 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 11,141 companies in sector 43910 we hold annual accounts for 5,493. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43910Bricklaying and masonry work
43110Demolition
43120Site preparation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0670844476
Registered
05-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.