LGS2
ActiveSummary
LGS2 has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €10.9m and a net result of €547,405. Equity is growing by ~3.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability40=
Solvency48▲+1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550,000 at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.14 in 2023; short-term debt: 11.5% and cash: 0% of total assets), and 77.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
22.7%
Return on assets
1.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
27 d early
2022
27 d early
2021
19 d early
2020
6 d late
2019
206 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 18 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, unclassified schema, statutory accounts
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€547,405▲ 39.2%
2023 · €393,343
Working capital
€999,464▲ 28.9%
2023 · €775,287
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€168,529▼ 2,183%€154,910-€15,787-€16,237▼ 2.9%-€6,741▲ 58.5%
Net result€33,043▼ 91.9%€610,718▲ 1,748%-€1,476€393,343€547,405▲ 39.2%
Equity€9.4m▲ 0.4%€10.0m▲ 6.5%€10.0m=€10.4m▲ 3.9%€10.9m▲ 5.3%
Total assets€24.0m▲ 0.8%€39.2m▲ 63.4%€45.0m▲ 14.9%€46.5m▲ 3.3%€48.1m▲ 3.5%
Debt€14.6m▲ 1.1%€29.2m▲ 99.8%€35.1m▲ 20.0%€36.1m▲ 3.1%€37.2m▲ 3.0%
Working capital-€2.5m▼ 98.5%€993,580€693,265▼ 30.2%€775,287▲ 11.8%€999,464▲ 28.9%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6,741 in 2024 against €16,237 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €48.1m
Fixed assets
€41.6m ▲ 3.1%
Current assets
€6.5m ▲ 6.0%
Equity and liabilities €48.1m
Equity
€10.9m ▲ 5.3%
Debt
€37.2m ▲ 3.0%
Debt's share of the balance-sheet total falls from 77.7% to 77.3%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.18▲
2023 · 1.14
Debt to equity
3.41▼
2023 · 3.48
ROE
5.0%▲
2023 · 3.8%
ROA
1.1%▲
2023 · 0.8%
Debt ≤ 1 year
€5.5m▲
2023 · €5.4m
Debt > 1 year
€31.7m▲
2023 · €30.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €164,205 | - | - | - | - |
| Non-recurring operating income76A | - | €164,205 | - | - | - | - |
| Operating charges60/66A | - | €9,295 | €15,787 | €16,237 | €6,741 | ▼ 58.5% |
| Services and other goods61 | - | €9,295 | €15,787 | €16,237 | €6,741 | ▼ 58.5% |
| Operating profit (loss)9901 | -€168,529 | €154,910 | -€15,787 | -€16,237 | -€6,741 | ▲ 58.5% |
| Financial income75/76B | - | €1.3m | €1.3m | €1.5m | €1.7m | ▲ 12.0% |
| Recurring financial income75 | €627,448 | €1.3m | €1.3m | €1.5m | €1.7m | ▲ 12.0% |
| Income from financial fixed assets750 | - | - | €1.3m | €1.4m | €1.5m | ▲ 4.0% |
| Income from current assets751 | - | €987,065 | - | €2 | €24 | ▲ 1,019% |
| Other financial income752/9 | - | €297,631 | - | €109,065 | €236,293 | ▲ 117% |
| Financial charges65/66B | - | €828,887 | €1.3m | €1.1m | €1.2m | ▲ 3.5% |
| Recurring financial charges65 | €425,877 | €828,887 | €1.3m | €1.1m | €1.2m | ▲ 3.5% |
| Debt charges650 | €332,499 | €720,682 | €1.0m | €1.1m | €1.2m | ▲ 3.5% |
| Other financial charges652/9 | - | €108,205 | €271,954 | €537 | €567 | ▲ 5.6% |
| Profit (loss) for the period before taxes9903 | €33,043 | €610,718 | -€1,476 | €393,343 | €547,405 | ▲ 39.2% |
| Profit (loss) for the period9904 | €33,043 | €610,718 | -€1,476 | €393,343 | €547,405 | ▲ 39.2% |
| Profit (loss) for the period to be appropriated9905 | €33,043 | €610,718 | -€1,476 | €393,343 | €547,405 | ▲ 39.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €24.0m | €39.2m | €45.0m | €46.5m | €48.1m | ▲ 3.5% |
| Fixed assets21/28 | €15.4m | €33.3m | €39.1m | €40.3m | €41.6m | ▲ 3.1% |
| Financial fixed assets28 | €15.4m | €33.3m | €39.1m | €40.3m | €41.6m | ▲ 3.1% |
| Affiliated companies280/1 | - | €33.3m | €39.1m | €40.3m | €41.6m | ▲ 3.1% |
| Participating interests280 | - | €8.4m | €8.4m | €8.4m | €8.4m | = |
| Amounts receivable281 | - | €24.8m | €30.7m | €31.9m | €33.2m | ▲ 3.9% |
| Current assets29/58 | €8.6m | €5.9m | €5.9m | €6.2m | €6.5m | ▲ 6.0% |
| Amounts receivable within one year40/41 | €8.6m | €5.9m | €5.9m | €6.2m | €6.5m | ▲ 6.0% |
| Other amounts receivable41 | - | €5.9m | €5.9m | €6.2m | €6.5m | ▲ 6.0% |
| Cash at bank and in hand54/58 | €20,531 | €10,142 | €8,524 | €9,364 | €10,970 | ▲ 17.1% |
| Deferred charges and accrued income490/1 | - | €8,570 | €8,570 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €24.0m | €39.2m | €45.0m | €46.5m | €48.1m | ▲ 3.5% |
| Equity10/15 | €9.4m | €10.0m | €10.0m | €10.4m | €10.9m | ▲ 5.3% |
| Contributions10/11 | - | €8.0m | €8.0m | €8.0m | €8.0m | = |
| Reserves13 | €45,691 | €45,691 | €45,691 | €45,691 | €45,691 | = |
| Distributable reserves133 | - | €45,691 | €45,691 | €45,691 | €45,691 | = |
| Profit (loss) carried forward14 | €1.3m | €1.9m | €1.9m | €2.3m | €2.9m | ▲ 23.7% |
| Amounts payable17/49 | €14.6m | €29.2m | €35.1m | €36.1m | €37.2m | ▲ 3.0% |
| Amounts payable after more than one year17 | €3.5m | €24.3m | €29.8m | €30.7m | €31.7m | ▲ 3.0% |
| Financial debts170/4 | - | €24.3m | €29.8m | €30.7m | €31.7m | ▲ 3.0% |
| Other loans174 | - | €24.3m | €29.8m | €30.7m | €31.7m | ▲ 3.0% |
| Amounts payable within one year42/48 | €11.2m | €5.0m | €5.2m | €5.4m | €5.5m | ▲ 2.7% |
| Trade debts44 | €50,147 | €4,323 | €9,808 | €9,447 | €7,812 | ▼ 17.3% |
| Suppliers440/4 | - | €4,323 | €9,808 | €9,447 | €7,812 | ▼ 17.3% |
| Taxes, remuneration and social security45 | - | €43 | €43 | €43 | €43 | = |
| Taxes450/3 | - | €43 | €43 | €43 | €43 | = |
| Other amounts payable47/48 | - | €4.9m | €5.2m | €5.4m | €5.5m | ▲ 2.7% |
| Accrued charges and deferred income492/3 | - | €0 | €0 | €0 | €0 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,043 | €610,718 | -€1,476 | €393,343 | €547,405 | ▲ 39.2% |
| Operating cash flow (approximation) | €33,043 | €610,718 | -€1,476 | €393,343 | €547,405 | ▲ 39.2% |
| Investment in fixed assets (approximation) | - | -€17.9m | -€5.9m | -€1.2m | -€1.2m | ▼ 3.4% |
| Change in cash | - | -€10,389 | -€1,618 | €839 | €1,606 | ▲ 91.3% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Back to profitnet €393,343
Net result €393,343 after one loss-making year.
31-12
Financial
Equity above €10mEq €10.4m ▲3.9%
Equity rises from €10.0m to €10.4m.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
2022
31-12
Financial
Weakest financial yearnet -€1,476
Net result drops to -€1,476, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
31-12
Financial
Highest result since 2018net €610,718 ▲1,748%
Operating result €154,910, net result €610,718, both a record.
16-09
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated · 6 days late
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema · 6 days late
22-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 206 days late
22-02
NBB filing
Annual accounts filed
fiscal year 2019 · consolidated · 206 days late
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · consolidated · 415 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Brussel · 1 establishment unit since 2002
Ground area
925 m²
Building footprint
168 m²
Volume, LiDAR
1,193 m³
Parcel 21803C1893/00D000, Brussels · tallest building 16.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Sint-Laurensstraat 36-38, 1000 Brussel
since 20022.094.717.671
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C1893/00D000 | Brussels | 925 m² | 1 · 168 m² | 16.6 m · 1 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Part of the group
GALA HOLDING
11 companies
Group, risk and exposure
Owners and holdings
1 owner · 2 holdings · 16 subsidiaries in the treeChain of control
- UNIVERSAL INTERNATIONAL MUSIC BVNL
- GALA HOLDING
- LGS2
Highest known parent: UNIVERSAL INTERNATIONAL MUSIC BV (Netherlands). The sources do not say who stands above it.
Owners 1
-
100%
Holdings 2
-
100%
-
75.73%
All subsidiaries, including indirect ones 16
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
PIAS GROUP 100%14 subsidiaries
- HARMONIA MUNDI MUSICORA AGCH 100%
- Helikon Harmonia Mundi GmbHDE 100%
- PIAS RECORDS SPAINES 100%
- PLAY IT AGAIN SAM BVNL 100%
PLAY IT AGAIN SAM 99.99%6 subsidiaries
- 62TV RECORDS 100%
- CRAMMED DISCS 100%
TEMPLAR MUSIC 100%1 subsidiary
- AMC 100%
- BANG ! 99.91%
- HARMONIA MUNDI BELGIUM 75%
- PLAY IT AGAIN SAM HOLDING UKGB 99.99%
- FOLLOW-UP 99.46%
- F COMMUNICATIONSFR 60%
- PIAS FRANCE SARLFR 75.73%
According to the 2024 annual accounts of LGS2 and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPrivate limited company
Founded08-02-2002
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476858334
Also
9925:BE0476858334
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.