LIGNA CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of LIGNA CONSTRUCT is 3.2% (moderate). The 2025 annual accounts show negative equity (-€1.1m) and a net result of -€894,399. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 2,760 sector peers (NACE 41, financial year 2025). The company has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€1.1m
- Loss
- -€894,399
- Parent
- LIGNA-systems Holding · 99%
- S-work-SDirector · permanent representative Stephan SCHWALL
Why 47raises riskLoss of €894,399, the second in a row (financial year 2025)Negative equity -€1.1mLiquidity: current ratio 0.43, cash €1,944, halvedlowers riskSize: total assets €869,044Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro): better than 3% on solvency, 2% on liquidity, 5% on profitability and 1% on growth.
The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 10 days before the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Weakest financial yearnet -€894,399
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €873,439 in 2025 against €131,183 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
- 2025 Net result -658% on 2024. The accounts now follow the abbreviated format, last year the full format.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 9.4% went bankrupt within 24 months and 83.3% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.2% 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 497,473 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 74.5% 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 598 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €78,014 | €41,352 | -€225 | -€277 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,181 | €47,812 | €46,869 | €34,523 | €29,176 | €10,603 | €4,884 | €6,161 | ▲ 26.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | -€85,016 | - | - |
| Other operating charges640/8 | - | - | - | €1,213 | €1,356 | €31,147 | €482 | €663 | ▲ 37.5% |
| Non-recurring operating charges66A | - | - | - | €5,972 | €5,200 | - | €85,150 | - | - |
| Gross operating margin9900 | €157,293 | €225,490 | €327,856 | €369,338 | €110,103 | €81,625 | -€125,960 | -€866,614 | ▼ 588% |
| Operating profit (loss)9901 | -€82,197 | €45,646 | €54,697 | €249,615 | €33,020 | €40,100 | -€131,183 | -€873,439 | ▼ 566% |
| Financial income75/76B | - | - | - | €17,168 | €11,157 | €23,976 | €26,871 | €15,629 | ▼ 41.8% |
| Recurring financial income75 | €17,409 | €39,133 | €33,721 | €17,168 | €11,157 | €23,976 | €26,871 | €15,629 | ▼ 41.8% |
| Financial charges65/66B | - | - | - | €29,390 | €21,464 | €48,548 | €13,751 | €36,590 | ▲ 166% |
| Recurring financial charges65 | €82,759 | €48,915 | €57,050 | €29,390 | €21,464 | €48,548 | €13,751 | €36,590 | ▲ 166% |
| Profit (loss) for the period before taxes9903 | -€147,547 | €35,864 | €31,368 | €237,394 | €22,713 | €15,529 | -€118,063 | -€894,399 | ▼ 658% |
| Income taxes67/77 | €47 | €156 | €290 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€147,594 | €35,709 | €31,078 | €237,394 | €22,713 | €15,529 | -€118,063 | -€894,399 | ▼ 658% |
| Profit (loss) for the period to be appropriated9905 | -€147,594 | €35,709 | €31,078 | €237,394 | €22,713 | €15,529 | -€118,063 | -€894,399 | ▼ 658% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.7m | €2.1m | €1.6m | €1.3m | €0.4m | €0.4m | €0.8m | €0.9m | ▲ 4.7% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.1m | €0.05m | €0.01m | €0.004m | €0.01m | €0.03m | ▲ 209% |
| Intangible fixed assets21 | €0.09m | €0.07m | €0.04m | €0.02m | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.07m | €0.07m | €0.06m | €0.03m | €0.01m | €0.004m | €0.01m | €0.03m | ▲ 209% |
| Plant, machinery and equipment23 | - | - | - | - | €0.002m | €0.002m | €0.01m | €0.03m | ▲ 209% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.01m | €0.003m | - | - | - |
| Financial fixed assets28 | €0.02m | €0.01m | €250 | €250 | €250 | €250 | - | - | - |
| Current assets29/58 | €1.5m | €1.9m | €1.5m | €1.2m | €0.4m | €0.4m | €0.8m | €0.8m | ▲ 2.3% |
| Stocks and contracts in progress3 | €0.03m | €0.03m | €0.4m | €0.1m | €0.1m | - | €0.2m | €0.1m | ▼ 39.5% |
| Stocks30/36 | - | - | - | €0.1m | €0.1m | - | €0.2m | €0.1m | ▼ 39.5% |
| Amounts receivable within one year40/41 | €1.2m | €1.8m | €0.9m | €0.7m | €0.2m | €0.2m | €0.6m | €0.7m | ▲ 16.1% |
| Trade receivables40 | - | - | - | €0.6m | €0.2m | €0.2m | €0.4m | €0.7m | ▲ 57.1% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.02m | €0.01m | €0.2m | €0.01m | ▼ 92.0% |
| Cash at bank and in hand54/58 | €0.3m | €0.08m | €0.2m | €0.4m | €0.09m | €0.1m | €0.01m | €0.002m | ▼ 86.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €43 | €0.002m | €0.001m | €0.01m | ▲ 1,588% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.7m | €2.1m | €1.6m | €1.3m | €0.4m | €0.4m | €0.8m | €0.9m | ▲ 4.7% |
| Equity10/15 | -€0.4m | -€0.4m | -€0.3m | -€0.1m | -€0.08m | -€0.07m | -€0.2m | -€1.1m | ▼ 479% |
| Contributions10/11 | €0.04m | €0.04m | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Reserves13 | €0.004m | €0.004m | €0.004m | €0.004m | - | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €0.004m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.004m | - | - | - | - | - |
| Profit (loss) carried forward14 | -€0.5m | -€0.4m | -€0.4m | -€0.2m | -€0.1m | -€0.1m | -€0.2m | -€1.1m | ▼ 387% |
| Investment grants15 | - | - | - | €0.01m | €0.005m | €261 | - | - | - |
| Amounts payable17/49 | €2.0m | €2.4m | €1.9m | €1.4m | €0.5m | €0.4m | €1.0m | €2.0m | ▲ 91.8% |
| Amounts payable after more than one year17 | €0.04m | €0.02m | €0.007m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €2.0m | €2.4m | €1.9m | €1.3m | €0.5m | €0.4m | €1.0m | €1.9m | ▲ 91.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.007m | - | - | - | - | - |
| Financial debts43 | - | - | - | - | - | - | - | €76 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €76 | - |
| Trade debts44 | €0.7m | €0.6m | €0.3m | €0.3m | €0.03m | €0.1m | €0.08m | €0.2m | ▲ 184% |
| Suppliers440/4 | - | - | - | €0.3m | €0.03m | €0.1m | €0.08m | €0.2m | ▲ 184% |
| Advances received on contracts in progress46 | - | - | - | €0.4m | - | - | €0.4m | €0.2m | ▼ 51.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.003m | €0.2m | - | €0.001m | - |
| Taxes450/3 | - | - | - | - | €0.003m | €0.2m | - | - | - |
| Remuneration and social security454/9 | - | - | - | €0.008m | - | - | - | €0.001m | - |
| Other amounts payable47/48 | - | - | - | €0.6m | €0.5m | €0.2m | €0.5m | €1.5m | ▲ 186% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €8 | €245 | €0.003m | €0.005m | ▲ 61.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€147,594 | €35,709 | €31,078 | €237,394 | €22,713 | €15,529 | -€118,063 | -€894,399 | ▼ 658% |
| + Depreciation and write-downs630 | €54,181 | €47,812 | €46,869 | €34,523 | €29,176 | €10,603 | €4,884 | €6,161 | ▲ 26.2% |
| Operating cash flow (approximation) | -€93,413 | €83,521 | €77,946 | €271,917 | €51,889 | €26,132 | -€113,179 | -€888,238 | ▼ 685% |
| Investment in fixed assets (approximation) | - | -€6,343 | €6,294 | €13,396 | €5,095 | €0 | -€10,143 | -€26,110 | ▼ 157% |
| Change in cash | - | -€179,993 | €117,542 | €176,845 | -€292,599 | €62,264 | -€134,524 | -€12,265 | ▲ 90.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 20-07-2026 | 2026-00311734 |
| 31-12-2024 | full format | 15-07-2025 | 2025-00271140 |
| 31-12-2023 | full format | 26-07-2024 | 2024-00291599 |
| 31-12-2022 | full format | 08-08-2023 | 2023-00319129 |
| 31-12-2021 | full format | 24-06-2022 | 2022-20089746 |
| 31-12-2020 | full format | 31-08-2021 | 2021-60800353 |
| 31-12-2019 | full format | 18-06-2020 | 2020-18000087 |
| 31-12-2018 | full format | 22-08-2019 | 2019-52700231 |
| 31-12-2017 | full format | 31-08-2018 | 2018-61100080 |
| 31-12-2016 | full format | 29-08-2017 | 2017-51400127 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| S-work-S |
|
| ENGISA CONSULT GmbH |
|
Owners and capital
Owners
1 ownerChain of control
- LIGNA-systems Holding
- LIGNA CONSTRUCT
Highest known parent: LIGNA-systems Holding. The sources do not say who stands above it.
Owners 1
-
99%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
2 connected companiesThe connected companies are in the list below.
History
Acts, filings and financial milestones
06-12
Gazette deed
Appointment: S-work-S (verwalterin)Permanent representatives: Stephan SCHWALL and Olivier DUPUIS4 facts ▸
- General meeting, 12-11-2024
- Director appointment, S-work-S (verwalterin)
- Permanent representative, Stephan SCHWALL (ständiger vertreter)
- Permanent representative, Olivier DUPUIS (ständiger vertreter)
26-09
Gazette deed
Resignation: ENGISA CONSULT GmbH (verwalterin)Permanent representatives: Elisa ENGEL and Olivier DUPUIS · Director discharge7 facts ▸
- General meeting, 28-06-2024
- Director resignation, ENGISA CONSULT GmbH (verwalterin)
- Permanent representative, Elisa ENGEL (ständige vertreterin)
- Director discharge, ENGISA CONSULT GmbH (verwaltungsratsmitglied)
- Director discharge, Elisa ENGEL (verwaltungsratsmitglied)
- Other provision, “endgültige Entlastung, Beginn des laufenden Geschäftsjahres bis Datum des Rücktritts” (deed in German)
- Permanent representative, Olivier DUPUIS (ständiger vertreter)
Show earlier events
About the unread acts
Of the 11 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0844.691.638
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the KBO register.
Mercatorstraße 164780 Sankt Vith