LIERO
ActiveSummary
LIERO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€136,149) and a net result of -€40,992. Equity is shrinking by ~26.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 7967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-52
Solvency6▼-6
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.01 against 0.02 in 2024; short-term debt: 109.6% and cash: 0.3% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 →
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
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
-19%
Return on assets
-5.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€136,149
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
56 d late
2023
58 d late
2022
64 d late
2021
2 d early
2020
173 d early
2019
24 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 1 day 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. Usually files around 25 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€136,149▼ 43.1%
2024 · -€95,157
Total assets
€715,114▼ 5.1%
2024 · €753,419
Net result
-€40,992▼ 47.0%
2024 · -€27,882
Working capital
-€775,602▼ 1.7%
2024 · -€762,656
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€29,184▼ 411%€35,625-€38,163-€30,817▲ 19.3%-€43,867▼ 42.3%
Net result-€26,283below the sector's middle half▼ 836%€37,875above the sector's middle half-€35,289below the sector's middle half-€27,882below the sector's middle half▲ 21.0%-€40,992below the sector's middle half▼ 47.0%
Equity-€69,860below the sector's middle half▼ 60.3%-€31,985below the sector's middle half▲ 54.2%-€67,274below the sector's middle half▼ 110%-€95,157below the sector's middle half▼ 41.4%-€136,149below the sector's middle half▼ 43.1%
Total assets€1.0mabove the sector's middle half▼ 2.7%€1.1mabove the sector's middle half▲ 3.3%€822,479above the sector's middle half▼ 23.7%€753,419above the sector's middle half▼ 8.4%€715,114within the sector's middle half▼ 5.1%
Debt€1.0m=€1.0m=€816,232▼ 21.0%€778,001▼ 4.7%€783,634▲ 0.7%
Working capital-€947,633below the sector's middle half▼ 0.8%-€665,924below the sector's middle half▲ 29.7%-€764,646below the sector's middle half▼ 14.8%-€762,656below the sector's middle half▲ 0.3%-€775,602below the sector's middle half▼ 1.7%
Solvency-6.7%below the sector's middle half▼ 2.6pp-3.0%below the sector's middle half▲ 3.7pp-8.2%below the sector's middle half▼ 5.2pp-12.6%below the sector's middle half▼ 4.5pp-19.0%below the sector's middle half▼ 6.4pp
Current ratio0.08below the sector's middle half▼ 0.010.36below the sector's middle half▲ 0.270.06below the sector's middle half▼ 0.290.02below the sector's middle half▼ 0.040.01below the sector's middle half▼ 0.01
Return on assets (ROA)-2.5%below the sector's middle half▼ 2.3pp3.5%within the sector's middle half▲ 6.0pp-4.3%below the sector's middle half▼ 7.8pp-3.7%below the sector's middle half▲ 0.6pp-5.7%below the sector's middle half▼ 2.0pp
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €43,867 in 2025 against €30,817 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €715,114
Fixed assets
€707,082 ▼ 4.2%
Current assets
€8,032 ▼ 47.7%
Key figures and ratios
EBITDA
-€12,873▼
2024 · €1,177
Cash flow
-€9,999▼
2024 · €4,111
Debt to equity
-5.76▲
2024 · -8.18
Interest coverage
-177.81▼
2024 · 94.90
Debt ≤ 1 year
€783,634▲
2024 · €778,001
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
4.0%
stopped otherwise
93%
still going
A further 1.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,242 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €87,500 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,061 | €21,781 | €22,678 | €31,993 | €30,993 | ▼ 3.1% |
| Other operating charges640/8 | €3,882 | €23,517 | €2,735 | €2,702 | €2,795 | ▲ 3.5% |
| Gross operating margin9900 | -€3,241 | €80,923 | -€12,750 | €3,878 | -€10,078 | ▼ 360% |
| Operating profit (loss)9901 | -€29,184 | €35,625 | -€38,163 | -€30,817 | -€43,867 | ▼ 42.3% |
| Financial income75/76B | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | - | - |
| Financial charges65/66B | €45 | €12 | €73 | €12 | €72 | ▲ 484% |
| Recurring financial charges65 | €45 | €12 | €73 | €12 | €72 | ▲ 484% |
| Profit (loss) for the period before taxes9903 | -€29,229 | €35,612 | -€38,236 | -€30,829 | -€43,939 | ▼ 42.5% |
| Transfer from deferred taxes780 | €2,947 | €2,947 | €2,947 | €2,947 | €2,947 | = |
| Income taxes67/77 | - | €684 | - | - | - | - |
| Profit (loss) for the period9904 | -€26,283 | €37,875 | -€35,289 | -€27,882 | -€40,992 | ▼ 47.0% |
| Transfer from tax-exempt reserves789 | €5,720 | €5,720 | €5,720 | €5,720 | €5,720 | = |
| Profit (loss) for the period to be appropriated9905 | -€20,563 | €43,594 | -€29,570 | -€22,163 | -€35,273 | ▼ 59.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €1.1m | €822,479 | €753,419 | €715,114 | ▼ 5.1% |
| Fixed assets21/28 | €957,188 | €710,407 | €770,893 | €738,075 | €707,082 | ▼ 4.2% |
| Tangible fixed assets22/27 | €956,363 | €709,582 | €770,068 | €738,075 | €707,082 | ▼ 4.2% |
| Land and buildings22 | €952,566 | €707,582 | €721,474 | €700,473 | €679,472 | ▼ 3.0% |
| Plant, machinery and equipment23 | €469 | - | €1,279 | €1,015 | €751 | ▼ 26.0% |
| Furniture and vehicles24 | €3,328 | €2,000 | €47,315 | €36,587 | €26,859 | ▼ 26.6% |
| Financial fixed assets28 | €825 | €825 | €825 | - | - | - |
| Current assets29/58 | €86,658 | €367,897 | €51,586 | €15,344 | €8,032 | ▼ 47.7% |
| Amounts receivable within one year40/41 | €36,580 | €35,284 | €4,854 | €8,270 | €6,008 | ▼ 27.4% |
| Trade receivables40 | €35,292 | €28,129 | €129 | €4,969 | €3,181 | ▼ 36.0% |
| Other amounts receivable41 | €1,288 | €7,155 | €4,725 | €3,301 | €2,826 | ▼ 14.4% |
| Cash at bank and in hand54/58 | €50,078 | €332,612 | €46,731 | €7,074 | €2,024 | ▼ 71.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €1.1m | €822,479 | €753,419 | €715,114 | ▼ 5.1% |
| Equity10/15 | -€69,860 | -€31,985 | -€67,274 | -€95,157 | -€136,149 | ▼ 43.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €154,278 | €148,558 | €142,839 | €137,119 | €131,399 | ▼ 4.2% |
| Non-distributable reserves130/1 | €41 | €41 | €41 | €41 | €41 | = |
| Legal reserve130 | €41 | €41 | €41 | €41 | €41 | = |
| Tax-exempt reserves132 | €154,237 | €148,517 | €142,797 | €137,078 | €131,358 | ▼ 4.2% |
| Profit (loss) carried forward14 | -€286,138 | -€242,544 | -€272,113 | -€294,276 | -€329,548 | ▼ 12.0% |
| Provisions and deferred taxes16 | €79,415 | €76,468 | €73,522 | €70,575 | €67,629 | ▼ 4.2% |
| Deferred taxes168 | €79,415 | €76,468 | €73,522 | €70,575 | €67,629 | ▼ 4.2% |
| Amounts payable17/49 | €1.0m | €1.0m | €816,232 | €778,001 | €783,634 | ▲ 0.7% |
| Amounts payable within one year42/48 | €1.0m | €1.0m | €816,232 | €778,001 | €783,634 | ▲ 0.7% |
| Trade debts44 | €597 | €206 | €571 | €2,038 | €2,577 | ▲ 26.4% |
| Suppliers440/4 | €597 | €206 | €571 | €2,038 | €2,577 | ▲ 26.4% |
| Other amounts payable47/48 | €1.0m | €1.0m | €815,660 | €775,962 | €781,057 | ▲ 0.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,283 | €37,875 | -€35,289 | -€27,882 | -€40,992 | ▼ 47.0% |
| + Depreciation and write-downs630 | €22,061 | €21,781 | €22,678 | €31,993 | €30,993 | ▼ 3.1% |
| Operating cash flow (approximation) | -€4,222 | €59,656 | -€12,612 | €4,111 | -€9,999 | ▼ 343% |
| Investment in fixed assets (approximation) | - | €225,000 | -€83,164 | €825 | €0 | ▼ 100% |
| Change in cash | - | €282,534 | -€285,881 | -€39,657 | -€5,050 | ▲ 87.3% |
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
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 56 days late
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 64 days late
2022
31-12
Financial
Back to profitnet €37,875
Net result €37,875 after 4 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
19-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
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 9 acts read
About the unread acts
We know of 9 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
9 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, Gistel · 1 establishment unit since 2012
Ground area
1,767 m²
Building footprint
206 m²
Volume, LiDAR
1,636 m³
Parcel 35005A1056/00C002, Flanders · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LIERO
since 20122.210.878.933
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35005A1056/00C002 | Flanders | 1,767 m² | 1 · 206 m² | 12.3 m · 3 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 20,025 companies in sector 43320 we hold annual accounts for 9,140. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded23-05-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43332Laying of wooden floor and wall coverings
90201Performing arts by independent artists
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471951619
Also
9925:BE0471951619
Registered
24-09-2025
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.