LIEMA
ActiveSummary
LIEMA has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.93M and a net result of €109k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 28% of 297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-3
Solvency50▼-5
Growth35▲+3
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.32 in 2024; short-term debt: 71.5% and cash: 2.9% of total assets), and 75.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 2025Solvency, return and age of the figures
Solvency
24.7%
Return on assets
1.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
30 d early
2023
20 d early
2022
59 d early
2021
62 d early
2020
24 d early
2019
25 d late
← 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
€12.24M▼ 17.6%
2024 · €14.85M
2024: €14.85M
2025: €12.24M▼ -17.6% vs 2024
2024 → 2025
EBIT margin
1.4%▲ 0.1pp
2024 · 1.3%
2024: 1.3%
2025: 1.4%▲ +10.4% vs 2024
2024 → 2025
Net result
€109k▲ 1.3%
2024 · €108k
2018: €472k
2019: €541k▲ +14.6% vs 2018highest value
2020: €127k▼ -76.6% vs 2019
2021: €153k▲ +20.8% vs 2020
2022: €69k▼ -55.1% vs 2021lowest value
2024: €108k
2025: €109k▲ +1.3% vs 2024
2018 → 2025
Working capital
€1.43M▲ 7.7%
2024 · €1.33M
2018: €970k
2019: €851k▼ -12.3% vs 2018lowest value
2020: €980k▲ +15.2% vs 2019
2021: €1.18M▲ +20.8% vs 2020
2022: €1.19M▲ +0.7% vs 2021
2024: €1.33M
2025: €1.43M▲ +7.7% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Turnover€14.85M€12.24M▼ 17.6%
2024: €14.85M
2025: €12.24M▼ -17.6% vs 2024
Equity€1.83M-€1.83M=€1.83M=€1.82M▼ 0.4%€1.93M▲ 6.0%
2020: €1.83M
2021: €1.83M● +0.0% vs 2020
2022: €1.83M● +0.0% vs 2021
2024: €1.82Mlowest value
2025: €1.93M▲ +6.0% vs 2024highest value
Operating result€185k-€192k▲ 3.5%€104k▼ 45.9%€190k▲ 83.5%€173k▼ 9.0%
2020: €185k
2021: €192k▲ +3.5% vs 2020highest value
2022: €104k▼ -45.9% vs 2021lowest value
2024: €190k
2025: €173k▼ -9.0% vs 2024
Net result€127k-€153k▲ 20.8%€69k▼ 55.1%€108k▲ 57.6%€109k▲ 1.3%
2020: €127k
2021: €153k▲ +20.8% vs 2020highest value
2022: €69k▼ -55.1% vs 2021lowest value
2024: €108k
2025: €109k▲ +1.3% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.83M
Fixed assets
€802k ▲ 19.7%
Current assets
€7.03M ▲ 28.3%
Equity and liabilities €7.83M
Equity
€1.93M ▲ 6.0%
Provisions
€140k
Debt
€5.76M ▲ 33.2%
Debt's share of the balance-sheet total rises from 70.3% to 73.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€463k▼
2024 · €534k
Cash flow
€400k▼
2024 · €452k
Current ratio
1.26▼
2024 · 1.32
Quick ratio
0.68▼
2024 · 0.84
Debt to equity
2.98▲
2024 · 2.37
ROE
5.7%▼
2024 · 5.9%
ROA
1.4%▼
2024 · 1.8%
Interest coverage
5.49▼
2024 · 6.66
Debt ≤ 1 year
€5.60M▲
2024 · €4.15M
Debt > 1 year
€0▼
2024 · €64k
Income taxes
€-94▼
2024 · €300
Staff costs
€2.62M▲
2024 · €2.59M
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 · 73 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.15M€7.83M▲
Fixed assets21/28€670k€802k▲
Tangible fixed assets22/27€661k€793k▲
Plant, machinery and equipment23€328k€373k▲
Furniture and vehicles24€333k€420k▲
Financial fixed assets28€9k€9k=
Other financial fixed assets284/8€9k€9k=
Amounts receivable and cash guarantees285/8€9k€9k=
Current assets29/58€5.48M€7.03M▲
Stocks and contracts in progress3€1.98M€3.23M▲
Contracts in progress37€1.98M€3.23M▲
Amounts receivable within one year40/41€3.29M€3.52M▲
Trade receivables40€2.18M€1.41M▼
Other amounts receivable41€1.11M€2.11M▲
Cash at bank and in hand54/58€165k€228k▲
Deferred charges and accrued income490/1€43k€48k▲
Equity and liabilities
Total equity and liabilities10/49€6.15M€7.83M▲
Equity10/15€1.82M€1.93M▲
Contributions10/11€932k€932k=
Reserves13€496k€496k=
Tax-exempt reserves132€403k€403k=
Distributable reserves133€93k€93k=
Profit (loss) carried forward14€396k€505k▲
Provisions and deferred taxes16-€140k
Provisions for liabilities and charges160/5-€140k
Other liabilities and charges164/5-€140k
Amounts payable17/49€4.32M€5.76M▲
Amounts payable after more than one year17€64k€0▼
Financial debts170/4€64k€0▼
Credit institutions173€64k€0▼
Amounts payable within one year42/48€4.15M€5.60M▲
Current portion of amounts payable after more than one year42€95k€64k▼
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€2.73M€2.47M▼
Suppliers440/4€2.73M€2.47M▼
Taxes, remuneration and social security45€147k€148k▲
Taxes450/3€503€4k▲
Remuneration and social security454/9€147k€144k▼
Other amounts payable47/48€1.17M€2.92M▲
Accrued charges and deferred income492/3€110k€159k▲
Income statement
Code20242025
Operating income70/76A€13.34M€13.68M▲
Turnover70€14.85M€12.24M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-1.76M€1.25M▲
Other operating income74€180k€188k▲
Non-recurring operating income76A€68k€2k▼
Operating charges60/66A€13.15M€13.51M▲
Goods for resale, raw materials and consumables60€6.84M€6.93M▲
Purchases600/8€6.84M€6.93M▲
Services and other goods61€3.29M€3.44M▲
Remuneration, social security and pensions62€2.59M€2.62M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€344k€290k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€28k€848▼
Other operating charges640/8€55k€87k▲
Non-recurring operating charges66A-€140k
Operating profit (loss)9901€190k€173k▼
Financial income75/76B€41k€60k▲
Recurring financial income75€41k€60k▲
Income from current assets751€30k€45k▲
Other financial income752/9€11k€15k▲
Financial charges65/66B€123k€123k=
Recurring financial charges65€123k€123k=
Debt charges650€80k€84k▲
Other financial charges652/9€43k€39k▼
Profit (loss) for the period before taxes9903€108k€109k▲
Income taxes67/77€300€-94▼
Taxes670/3€300€0▼
Tax adjustments and reversals of tax provisions77€0€94▲
Profit (loss) for the period9904€108k€109k▲
Profit (loss) for the period to be appropriated9905€108k€109k▲
Appropriation of the result
Profit (loss) to be appropriated9906€396k€505k▲
Profit (loss) brought forward from the previous period14P€288k€396k▲
Social balance
Average headcount (FTE)908742.838.0▼
The notes to these accounts (72 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €13.34M | €13.68M | ▲ 2.5% |
| Turnover70 | - | - | - | €14.85M | €12.24M | ▼ 17.6% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €-1.76M | €1.25M | ▲ 171% |
| Other operating income74 | - | - | - | €180k | €188k | ▲ 4.5% |
| Non-recurring operating income76A | - | €34k | €9k | €68k | €2k | ▼ 97.7% |
| Operating charges60/66A | - | - | - | €13.15M | €13.51M | ▲ 2.7% |
| Goods for resale, raw materials and consumables60 | - | - | - | €6.84M | €6.93M | ▲ 1.3% |
| Purchases600/8 | - | - | - | €6.84M | €6.93M | ▲ 1.3% |
| Services and other goods61 | - | - | - | €3.29M | €3.44M | ▲ 4.6% |
| Remuneration, social security and pensions62 | - | €2.16M | €2.37M | €2.59M | €2.62M | ▲ 1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €391k | €371k | €360k | €344k | €290k | ▼ 15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | €11k | €28k | €848 | ▼ 96.9% |
| Other operating charges640/8 | - | €114k | €44k | €55k | €87k | ▲ 57.6% |
| Non-recurring operating charges66A | - | €850 | €0 | - | €140k | - |
| Gross operating margin9900 | €2.83M | €2.84M | €2.89M | - | - | - |
| Operating profit (loss)9901 | €185k | €192k | €104k | €190k | €173k | ▼ 9.0% |
| Financial income75/76B | - | €24k | €42k | €41k | €60k | ▲ 43.9% |
| Recurring financial income75 | €15k | €24k | €42k | €41k | €60k | ▲ 43.9% |
| Income from current assets751 | - | - | - | €30k | €45k | ▲ 48.8% |
| Other financial income752/9 | - | - | - | €11k | €15k | ▲ 31.0% |
| Financial charges65/66B | - | €33k | €41k | €123k | €123k | = |
| Recurring financial charges65 | €28k | €31k | €41k | €123k | €123k | = |
| Debt charges650 | - | - | - | €80k | €84k | ▲ 5.2% |
| Other financial charges652/9 | - | - | - | €43k | €39k | ▼ 9.7% |
| Non-recurring financial charges66B | - | €2k | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €172k | €183k | €104k | €108k | €109k | ▲ 0.9% |
| Income taxes67/77 | €45k | €30k | €36k | €300 | €-94 | ▼ 131% |
| Taxes670/3 | - | - | - | €300 | €0 | ▼ 100% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0 | €94 | - |
| Profit (loss) for the period9904 | €127k | €153k | €69k | €108k | €109k | ▲ 1.3% |
| Profit (loss) for the period to be appropriated9905 | €127k | €153k | €69k | €108k | €109k | ▲ 1.3% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.45M | €4.68M | €5.34M | €6.15M | €7.83M | ▲ 27.4% |
| Fixed assets21/28 | €973k | €1.02M | €985k | €670k | €802k | ▲ 19.7% |
| Tangible fixed assets22/27 | €971k | €1.01M | €982k | €661k | €793k | ▲ 19.9% |
| Plant, machinery and equipment23 | - | €608k | €457k | €328k | €373k | ▲ 13.6% |
| Furniture and vehicles24 | - | €405k | €525k | €333k | €420k | ▲ 26.1% |
| Financial fixed assets28 | €3k | €3k | €3k | €9k | €9k | = |
| Other financial fixed assets284/8 | - | - | - | €9k | €9k | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €9k | €9k | = |
| Current assets29/58 | €2.48M | €3.67M | €4.36M | €5.48M | €7.03M | ▲ 28.3% |
| Stocks and contracts in progress3 | €1.21M | €1.76M | €2.07M | €1.98M | €3.23M | ▲ 63.4% |
| Contracts in progress37 | - | €1.76M | €2.07M | €1.98M | €3.23M | ▲ 63.4% |
| Amounts receivable within one year40/41 | €1.15M | €1.72M | €2.01M | €3.29M | €3.52M | ▲ 7.0% |
| Trade receivables40 | - | €1.26M | €1.06M | €2.18M | €1.41M | ▼ 35.4% |
| Other amounts receivable41 | - | €463k | €944k | €1.11M | €2.11M | ▲ 89.8% |
| Cash at bank and in hand54/58 | €88k | €140k | €157k | €165k | €228k | ▲ 38.1% |
| Deferred charges and accrued income490/1 | - | €43k | €127k | €43k | €48k | ▲ 12.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.45M | €4.68M | €5.34M | €6.15M | €7.83M | ▲ 27.4% |
| Equity10/15 | €1.83M | €1.83M | €1.83M | €1.82M | €1.93M | ▲ 6.0% |
| Contributions10/11 | - | €895k | €895k | €932k | €932k | = |
| Reserves13 | €128k | €128k | €128k | €496k | €496k | = |
| Non-distributable reserves130/1 | - | €90k | €90k | - | - | - |
| Reserves not available under the articles1311 | - | €90k | €90k | - | - | - |
| Tax-exempt reserves132 | - | €39k | €39k | €403k | €403k | = |
| Distributable reserves133 | - | - | - | €93k | €93k | = |
| Profit (loss) carried forward14 | €808k | €808k | €808k | €396k | €505k | ▲ 27.7% |
| Provisions and deferred taxes16 | - | - | - | - | €140k | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €140k | - |
| Other liabilities and charges164/5 | - | - | - | - | €140k | - |
| Amounts payable17/49 | €1.62M | €2.85M | €3.51M | €4.32M | €5.76M | ▲ 33.2% |
| Amounts payable after more than one year17 | €56k | €309k | €265k | €64k | €0 | ▼ 100% |
| Financial debts170/4 | - | €309k | €265k | €64k | €0 | ▼ 100% |
| Credit institutions173 | - | - | - | €64k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €1.50M | €2.48M | €3.17M | €4.15M | €5.60M | ▲ 34.9% |
| Current portion of amounts payable after more than one year42 | - | €99k | €112k | €95k | €64k | ▼ 32.2% |
| Financial debts43 | - | - | - | €0 | - | - |
| Credit institutions430/8 | - | - | - | €0 | - | - |
| Trade debts44 | €1.21M | €1.87M | €2.19M | €2.73M | €2.47M | ▼ 9.6% |
| Suppliers440/4 | - | €1.87M | €2.19M | €2.73M | €2.47M | ▼ 9.6% |
| Taxes, remuneration and social security45 | - | €120k | €155k | €147k | €148k | ▲ 0.5% |
| Taxes450/3 | - | - | €30k | €503 | €4k | ▲ 657% |
| Remuneration and social security454/9 | - | €120k | €125k | €147k | €144k | ▼ 1.8% |
| Other amounts payable47/48 | - | €396k | €705k | €1.17M | €2.92M | ▲ 148% |
| Accrued charges and deferred income492/3 | - | €60k | €81k | €110k | €159k | ▲ 44.4% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €127k | €153k | €69k | €108k | €109k | ▲ 1.3% |
| + Depreciation and write-downs630 | €391k | €371k | €360k | €344k | €290k | ▼ 15.6% |
| Operating cash flow (approximation) | €518k | €524k | €429k | €452k | €400k | ▼ 11.5% |
| Investment in fixed assets (approximation) | - | €-414k | €-329k | - | €-422k | - |
| Change in cash | - | €52k | €17k | - | €63k | - |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €69k ▼55.1%
Net result drops to €69k, the lowest in the series; recovery starts the following year.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
31-12
Financial
Highest result since 2018net €541k ▲14.6%
Operating result €728k, net result €541k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Tienen · 1 establishment unit since 1994
Ground area
2.0 ha
Building footprint
1,122 m²
Volume, LiDAR
7,171 m³
Parcel 24594C0304/04_000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
LIEMA BVBA
since 19942.068.818.473
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24594C0304/04_000 | Flanders | 2.0 ha | 1 · 1,122 m² | 7.8 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 23,035 EUR awarded · 18,476 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 5,952 EUR | 4,287 EUR |
| 2024 | 1 | 6,606 EUR | 2,712 EUR |
| 2023 | 2 | 9,018 EUR | 10,018 EUR |
| 2022 | 2 | 1,459 EUR | 1,459 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
4 categoriesLIEMA BV21364
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Of 2,327 companies in sector 42110 we hold annual accounts for 1,097. 560 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 (pre-2019)
Founded27-10-1994
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
43990Other specialised construction activities
Contact
Website
www.liema.be
E-mail
bart.vanbockstal@liema.be
E-mail
pascale.snels@liema.be
E-mail
wegenbouw@liema.be
Phone
016/800 000
Scores and ratios are computed by Checked and are not a credit decision.