Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2015 to 2025 closed with a loss. 2015 was the heaviest.
Of this, €241,023 falls due within a year.
Ten of the last ten came late. The 2019 accounts came latest: 84 days after the end of the period.
Board changed. Latest change 13-11-2025 · 1 in office.
Lower solvency than 92% of companies in real estate. Sector median 31.0% · 19,803 companies.
In July 2024, 2,333 companies had the same profile as LIO has now. Each dot stands for 6 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,333 companies, not a prediction for LIO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| LIO Grez-Doiceau | €161,413 | -€2,141 | -51.1% | - |
| G&S CONSULT Villers-la-Ville | €168,882 | -€35,154 | -27.0% | - |
| HomS Lasne | €142,494 | -€4,096 | 82.4% | - |
| THERLOVA Herbeumont | €164,701 | -€3,138 | -84.8% | - |
| LOCULUS Kalmthout | €164,369 | -€4,122 | 23.7% | - |
| De Zwaan Kortrijk | €179,470 | -€3,761 | -46.3% | - |
| EUROSTAR CONSTRUCT Antwerp | €162,613 | -€77,389 | 95.1% | 0.5 |
These companies have the same main activity as LIO: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €142,000 and €179,000, founded between 2011 and 2013.
LIO files the micro format. That format states no turnover. The gross margin fell from €19,526 in 2013 to -€2,141 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 7% of 19,803 companies in 2025.
Higher than 34% of 18,977 companies in 2025.
Higher than 17% of 19,446 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
161,413 | 161,587 | 158,469 | 170,053 | 155,666 | 166,930 | 157,849 | 271,133 | 291,004 | 474,006 | 746,644 | 1.1m | 1.7m | |
21/28 |
1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 16,566 | 31,566 | - | - | - | |
22/27 |
- | - | - | - | - | - | - | - | 15,000 | 30,000 | - | - | - | |
24 |
- | - | - | - | - | - | - | - | 15,000 | 30,000 | - | - | - | |
28 |
1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | 1,566 | - | - | - | |
29/58 |
159,847 | 160,021 | 156,902 | 168,487 | 154,100 | 165,364 | 156,283 | 269,567 | 274,438 | 442,440 | 746,644 | 1.1m | 1.7m | |
3 |
103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 215,315 | 214,986 | 387,277 | 585,265 | 528,785 | 985,741 | |
30/36 |
103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 103,941 | 215,315 | 214,986 | 387,277 | 585,265 | 528,785 | 985,741 | |
40/41 |
55,906 | 54,420 | 52,030 | 64,201 | 49,614 | 48,877 | 50,688 | 49,465 | 47,160 | 46,524 | 37,074 | 363,824 | 630,794 | |
40 |
160 | - | - | - | - | - | 474 | - | - | - | - | 320,000 | 600,617 | |
41 |
55,746 | 54,420 | 52,030 | 64,201 | 49,614 | 48,877 | 50,214 | 49,465 | 47,160 | 46,524 | 37,074 | 43,824 | 30,177 | |
54/58 |
- | 1,506 | 777 | 45 | 396 | 12,546 | 1,654 | 4,787 | 12,152 | 8,373 | 124,305 | 197,736 | 35,732 | |
490/1 |
- | 154 | 154 | 300 | 148 | - | - | - | 140 | 267 | - | 675 | 99 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
161,413 | 161,587 | 158,469 | 170,053 | 155,666 | 166,930 | 157,849 | 271,133 | 291,004 | 474,006 | 746,644 | 1.1m | 1.7m | |
10/15 |
-82,555 | -74,946 | -65,650 | -52,393 | -36,461 | -29,721 | -26,473 | -23,279 | 15,849 | 24,591 | 53,114 | 104,355 | 57,192 | |
10/11 |
45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | |
100 |
- | - | - | - | - | - | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | 45,000 | |
13 |
4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | |
130/1 |
4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | |
1311 |
4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | - | - | - | - | - | - | - | |
14 |
-132,055 | -124,446 | -115,150 | -101,893 | -85,961 | -79,221 | -75,973 | -72,779 | -33,651 | -24,909 | 3,614 | 54,855 | 7,692 | |
17/49 |
243,968 | 236,534 | 224,118 | 222,446 | 192,127 | 196,650 | 184,322 | 294,412 | 275,155 | 449,416 | 693,530 | 986,666 | 1.6m | |
17 |
- | - | - | - | - | - | - | - | - | - | - | 4,480 | 5,882 | |
178/9 |
- | - | - | - | - | - | - | - | - | - | - | 4,480 | 5,882 | |
42/48 |
241,023 | 233,588 | 221,173 | 219,500 | 189,182 | 193,705 | 181,376 | 291,466 | 272,209 | 446,470 | 692,045 | 982,186 | 1.6m | |
43 |
201,983 | 201,983 | 198,933 | 189,933 | 175,433 | 175,433 | 159,933 | 279,233 | 264,233 | 434,233 | 654,233 | 920,300 | 1.0m | |
439 |
201,983 | 201,983 | 198,933 | 189,933 | 175,433 | 175,433 | 159,933 | 279,233 | 264,233 | 434,233 | 654,233 | 920,300 | 1.0m | |
44 |
862 | 10,249 | 4,983 | 13,255 | 11,977 | 16,500 | 20,579 | 10,752 | 6,496 | 10,536 | 14,449 | 32,996 | 48,034 | |
440/4 |
862 | 10,249 | 4,983 | 13,255 | 11,977 | 16,500 | 20,579 | 10,752 | 6,496 | 10,536 | 14,449 | 32,996 | 48,034 | |
45 |
- | - | - | - | - | - | - | - | - | - | 23,363 | 28,890 | 12,521 | |
450/3 |
- | - | - | - | - | - | - | - | - | - | 23,363 | 28,890 | 12,521 | |
47/48 |
38,178 | 21,356 | 17,256 | 16,313 | 1,772 | 1,772 | 865 | 1,481 | 1,481 | 1,701 | - | - | 528,737 | |
492/3 |
2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 2,946 | 1,485 | - | - | |
| Income statement | ||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | 4,652 | - | - | - | |
9900 |
-2,141 | -8,535 | -8,348 | -14,728 | -5,261 | -2,184 | 5,434 | -11,965 | 9,214 | -7,965 | -40,128 | 72,533 | 19,526 | |
630 |
- | - | - | - | - | - | - | 15,000 | 15,000 | 15,000 | - | - | - | |
640/8 |
5,423 | 688 | 4,888 | 1,104 | 1,412 | 1,011 | 8,585 | 1,494 | 3,014 | 4,073 | 5,726 | 2,395 | 695 | |
66A |
- | - | - | - | - | - | - | - | - | - | 4,000 | - | 992 | |
9901 |
-7,564 | -9,223 | -13,236 | -15,832 | -6,673 | -3,194 | -3,152 | -28,459 | -8,800 | -27,038 | -45,854 | 70,138 | 18,831 | |
75/76B |
- | - | 47 | - | 0 | - | - | - | 3 | 80 | 135 | 712 | 10 | |
75 |
- | - | 47 | - | 0 | - | - | - | 3 | 80 | 135 | 712 | 10 | |
65/66B |
45 | 74 | 67 | 100 | 67 | 53 | 43 | 37 | 37 | 1,565 | 1,586 | 324 | 131 | |
65 |
45 | 74 | 67 | 100 | 67 | 53 | 43 | 37 | 37 | 1,565 | 1,586 | 324 | 131 | |
9903 |
-7,609 | -9,297 | -13,257 | -15,931 | -6,740 | -3,248 | -3,194 | -28,496 | -8,835 | -28,523 | -51,305 | 70,526 | 17,719 | |
67/77 |
- | - | - | - | - | - | - | 10,632 | -93 | - | -64 | 23,363 | 5,527 | |
9904 |
-7,609 | -9,297 | -13,257 | -15,931 | -6,740 | -3,248 | -3,194 | -39,128 | -8,741 | -28,523 | -51,241 | 47,163 | 12,192 | |
9905 |
-7,609 | -9,297 | -13,257 | -15,931 | -6,740 | -3,248 | -3,194 | -39,128 | -8,741 | -28,523 | -51,241 | 47,163 | 12,192 | |
| Appropriation of the result | ||||||||||||||
9906 |
-132,055 | -124,446 | -115,150 | -101,893 | -85,961 | -79,221 | -75,973 | -72,779 | -33,651 | -24,909 | 3,614 | 54,855 | 12,192 | |
14P |
-124,446 | -115,150 | -101,893 | -85,961 | -79,221 | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | 4,500 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 4,500 | |
| Document | ||||||||||||||
The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00495089.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00495089 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00430944 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00410194 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00408039 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20348497 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-58000371 | |
| 31-12-2019 | micro format | 23-10-2020 | 2020-64900205 | |
| 31-12-2018 | micro format | 22-08-2019 | 2019-48500237 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60100013 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-52500588 | |
| 31-12-2015 | full format | 26-08-2016 | 2016-47000121 | |
| 31-12-2014 | full format | 28-08-2015 | 2015-48900227 | |
| 31-12-2013 | full format | 27-08-2014 | 2014-47100375 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | - | - | -13,459 | 6,200 | -12,038 | - | - | - | ||
| - | - | - | - | - | - | - | -24,128 | 6,259 | -13,523 | - | - | - | ||
| - | - | - | - | - | - | - | 0 | 0 | 46,566 | - | - | - | ||
| - | 729 | 732 | -351 | -12,149 | 10,891 | -3,132 | -7,365 | 3,779 | -115,933 | -73,431 | 162,004 | - | ||
| -81,176 | -73,567 | -64,270 | -51,013 | -35,082 | -28,341 | -25,094 | -21,899 | 2,228 | -4,030 | 54,599 | 108,835 | 63,074 | ||
| -51.1% | -46.4% | -41.4% | -30.8% | -23.4% | -17.8% | -16.8% | -8.6% | 5.4% | 5.2% | 7.1% | 9.6% | 3.5% | ||
| 0.66 | 0.69 | 0.71 | 0.77 | 0.81 | 0.85 | 0.86 | 0.92 | 1.01 | 0.99 | 1.08 | 1.11 | 1.04 | ||
| 0.23 | 0.24 | 0.24 | 0.29 | 0.27 | 0.32 | 0.29 | 0.19 | 0.22 | 0.12 | 0.23 | 0.57 | 0.42 | ||
| - | - | - | - | - | - | - | - | 17.36 | 18.28 | 13.06 | 9.45 | 27.89 | ||
| - | - | - | - | - | - | - | - | -55.2% | -116.0% | -96.5% | 45.2% | 21.3% | ||
| -4.7% | -5.8% | -8.4% | -9.4% | -4.3% | -1.9% | -2.0% | -14.4% | -3.0% | -6.0% | -6.9% | 4.3% | 0.7% |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €7,564, smaller than the loss of €9,223 in 2024.
Equity is negative. Debt (€243,968) exceeds the balance-sheet total (€161,413).
LIO has no parent and no holdings in its annual accounts. is the only director. LIO shares no director with another company.
| Etablissements Vandercam
registered office since 17-03-1977 · founded in 1977 · negative equity (2025) |
total assets €73,054 (2025) 0417.093.664 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| JIMILI registered office Vivier Hanquet 4, 1390 Grez-Doiceau | 16-11-2012 | 2.214.342.625 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25037D0030/00S010 | 5,220 m² | - | - |
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. Use the enterprise number 0500.855.045
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