LISAM EHS SOFTWARE
ActiveSummary
LISAM EHS SOFTWARE has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €75.8m and a net result of -€5.0m. Equity is shrinking by about 4.3% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €75.8m
- Loss
- -€5.0m
- Largest shareholder
- Kensight Spark I SLP · 11.26%
- Holdings
- 4
Why 97raises riskLoss of €5.0m (financial year 2025)lowers riskSize: turnover €66.2m, total assets €111.8m, files consolidated accountsSector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2025 (filed 28-08-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 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 62, large): better than 84% on solvency, 95% on liquidity, 65% on profitability and 51% on growth.
The bankruptcy probability was computed on 12-10-2026 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 4 accounts on average 15 days after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · unclassified…
- Annual accounts filedfinancial year 2025 · full…
- Capital & shares · Resignations &…Permanent representative: DE TINGUY Stanislas…
Financials · financial year 2025, unclassified schema, standalone accounts
2022 to 2025, 4 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 18,897% above 2024 and is the highest 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 62, Computer programming, consultancy and related activities: 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).
Peer companies
Historical observationOf the 249 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 94% are still going.
- Large
- solvency 30% or more
- a small loss
- without age
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,468 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 249 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | €0.4m | €1.0m | €1.1m | €72.1m | ▲ 6,307% |
| Turnover70 | €0.4m | €1.0m | €1.1m | €66.2m | ▲ 5,998% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €0.03m | - |
| Own construction capitalised72 | - | - | - | €2.1m | - |
| Other operating income74 | €0.008m | €0.01m | €0.04m | €2.0m | ▲ 4,944% |
| Non-recurring operating income76A | - | - | - | €1.8m | - |
| Operating charges60/66A | €0.4m | €1.1m | €1.1m | €66.4m | ▲ 5,958% |
| Goods for resale, raw materials and consumables60 | - | - | - | €9.9m | - |
| Purchases600/8 | - | - | - | €9.5m | - |
| Change in stocks: decrease (increase)609 | - | - | - | €0.4m | - |
| Services and other goods61 | €0.2m | €0.5m | €0.5m | €19.1m | ▲ 4,061% |
| Remuneration, social security and pensions62 | €0.2m | €0.5m | €0.6m | €32.0m | ▲ 5,106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €4.9m | ▲ 25,114% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.2m | - |
| Other operating charges640/8 | €0.001m | €0.01m | €0.003m | €0.3m | ▲ 9,679% |
| Non-recurring operating charges66A | - | €0.1m | - | - | - |
| Operating profit (loss)9901 | €0.03m | -€0.1m | €0.03m | €5.8m | ▲ 18,897% |
| Financial income75/76B | €0.09m | €0.2m | €0.6m | €0.5m | ▼ 28.3% |
| Recurring financial income75 | €0.09m | €0.2m | €0.6m | €0.5m | ▼ 28.3% |
| Income from financial fixed assets750 | - | - | - | €0.02m | - |
| Income from current assets751 | - | - | - | €0.1m | - |
| Other financial income752/9 | €0.09m | €0.2m | €0.6m | €0.3m | ▼ 47.9% |
| Financial charges65/66B | €0.1m | €0.05m | €0.05m | €11.3m | ▲ 24,615% |
| Recurring financial charges65 | €0.1m | €0.05m | €0.05m | €11.3m | ▲ 24,615% |
| Debt charges650 | €0.1m | €0.05m | €0.05m | €0.7m | ▲ 1,388% |
| Other financial charges652/9 | - | €49 | €0 | €1.1m | ▲ 10,519,999,900% |
| Profit (loss) for the period before taxes9903 | €0.01m | €0.04m | €0.6m | -€5.1m | - |
| Income taxes67/77 | €8 | €0.02m | €0.02m | €0.1m | ▲ 395% |
| Taxes670/3 | €8 | €0.02m | €0.02m | -€0.2m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €337 | €0.3m | ▲ 83,567% |
| Profit (loss) for the period9904 | €0.01m | €0.02m | €0.6m | -€5.0m | - |
| Profit (loss) for the period to be appropriated9905 | €0.01m | €0.02m | €0.6m | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €179.9m | €208.5m | €225.0m | €111.8m | ▼ 50.3% |
| Formation expenses20 | €0.01m | €0.006m | €0.002m | - | - |
| Fixed assets21/28 | €170.5m | €200.5m | €217.3m | €75.8m | ▼ 65.1% |
| Intangible fixed assets21 | - | - | - | €12.2m | - |
| Tangible fixed assets22/27 | €0.06m | €0.04m | €0.05m | €11.3m | ▲ 22,157% |
| Land and buildings22 | - | - | - | €8.5m | - |
| Plant, machinery and equipment23 | - | - | - | €0.2m | - |
| Furniture and vehicles24 | €0.06m | €0.04m | €0.02m | €1.7m | ▲ 6,969% |
| Leasing and similar rights25 | - | - | €0.03m | €0.8m | ▲ 2,664% |
| Other tangible fixed assets26 | - | - | - | €0.2m | - |
| Financial fixed assets28 | €170.4m | €200.4m | €217.2m | €0.5m | ▼ 99.8% |
| Affiliated companies280/1 | €170.4m | €200.4m | €217.2m | - | - |
| Participating interests280 | €170.4m | €200.4m | €217.2m | - | - |
| Shares284 | - | - | - | €0.2m | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.3m | - |
| Current assets29/58 | €9.4m | €8.0m | €7.7m | €36.0m | ▲ 368% |
| Amounts receivable after more than one year29 | €3.7m | €7.9m | €6.9m | €3.0m | ▼ 56.7% |
| Trade receivables290 | €3.7m | €7.9m | €6.9m | €0.2m | ▼ 97.1% |
| Other amounts receivable291 | - | - | - | €2.8m | - |
| Stocks and contracts in progress3 | - | - | - | €1.7m | - |
| Stocks30/36 | - | - | - | €1.7m | - |
| Raw materials and consumables30/31 | - | - | - | €0.5m | - |
| Work in progress32 | - | - | - | €0.7m | - |
| Goods purchased for resale34 | - | - | - | €0.5m | - |
| Amounts receivable within one year40/41 | €0.7m | €0.009m | €0.7m | €14.1m | ▲ 1,839% |
| Trade receivables40 | €0.01m | €0.008m | €0.1m | €12.6m | ▲ 10,024% |
| Other amounts receivable41 | €0.7m | €0.001m | €0.6m | €1.5m | ▲ 150% |
| Current investments50/53 | - | - | - | €6.6m | - |
| Own shares50 | - | - | - | €6.4m | - |
| Other investments51/53 | - | - | - | €0.2m | - |
| Cash at bank and in hand54/58 | €5.1m | €0.1m | €0.09m | €9.6m | ▲ 10,415% |
| Deferred charges and accrued income490/1 | €0.002m | €0.001m | €0.01m | €1.0m | ▲ 8,821% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €179.9m | €208.5m | €225.0m | €111.8m | ▼ 50.3% |
| Equity10/15 | €176.0m | €205.5m | €222.6m | €75.8m | ▼ 66.0% |
| Contributions10/11 | €157.6m | €170.1m | €170.1m | €56.5m | ▼ 66.8% |
| Capital10 | €157.6m | €168.9m | €168.9m | €56.5m | ▼ 66.5% |
| Issued capital100 | €157.6m | €168.9m | €168.9m | €56.5m | ▼ 66.5% |
| Contributions outside capital11 | - | €1.2m | €1.2m | €1.3m | ▲ 3.7% |
| Share premium1100/10 | - | €1.2m | €1.2m | €1.3m | ▲ 3.7% |
| Revaluation surpluses12 | €18.3m | €35.4m | €52.2m | €46.2m | ▼ 11.4% |
| Reserves13 | €0.001m | €0.002m | €0.03m | - | - |
| Non-distributable reserves130/1 | €0.001m | €0.002m | €0.03m | - | - |
| Legal reserve130 | €0.001m | €0.002m | €0.03m | - | - |
| Profit (loss) carried forward14 | €0.01m | €0.03m | €0.3m | - | - |
| Investment grants15 | - | - | - | €0.08m | - |
| Provisions and deferred taxes16 | - | - | - | €1.1m | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.8m | - |
| Other liabilities and charges164/5 | - | - | - | €0.8m | - |
| Deferred taxes168 | - | - | - | €0.3m | - |
| Amounts payable17/49 | €4.0m | €3.0m | €2.4m | €34.9m | ▲ 1,347% |
| Amounts payable after more than one year17 | €2.9m | €1.8m | €1.1m | €13.7m | ▲ 1,114% |
| Financial debts170/4 | €2.9m | €1.8m | €1.1m | €12.0m | ▲ 966% |
| Leasing and similar obligations172 | - | - | - | €0.08m | - |
| Credit institutions173 | €2.7m | €1.5m | €0.8m | €9.6m | ▲ 1,103% |
| Other loans174 | €0.3m | €0.3m | €0.3m | €2.4m | ▲ 610% |
| Trade debts175 | - | - | - | €1.7m | - |
| Suppliers1750 | - | - | - | €1.7m | - |
| Amounts payable within one year42/48 | €1.0m | €1.1m | €1.3m | €20.6m | ▲ 1,522% |
| Current portion of amounts payable after more than one year42 | €0.8m | €0.8m | €0.8m | €4.3m | ▲ 426% |
| Financial debts43 | - | - | - | €6.6m | - |
| Credit institutions430/8 | - | - | - | €6.6m | - |
| Trade debts44 | €0.03m | €0.3m | €0.05m | €3.6m | ▲ 7,867% |
| Suppliers440/4 | €0.03m | €0.3m | €0.05m | €3.6m | ▲ 7,836% |
| Bills of exchange payable441 | - | - | - | €0.02m | - |
| Advances received on contracts in progress46 | - | - | - | €0.2m | - |
| Taxes, remuneration and social security45 | €0.2m | €0.07m | €0.07m | €5.0m | ▲ 7,055% |
| Taxes450/3 | €0.09m | €0.01m | €0.01m | €1.8m | ▲ 16,165% |
| Remuneration and social security454/9 | €0.06m | €0.06m | €0.06m | €3.2m | ▲ 5,379% |
| Other amounts payable47/48 | - | - | €0.3m | €0.9m | ▲ 172% |
| Accrued charges and deferred income492/3 | €0.02m | €0.02m | €0.01m | €0.6m | ▲ 4,666% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.02m | €0.6m | -€5.0m | - |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €4.9m | ▲ 25,114% |
| Operating cash flow (approximation) | €0.03m | €0.05m | €0.6m | -€0.1m | - |
| Investment in fixed assets (approximation) | - | -€30.0m | -€16.9m | €136.6m | - |
| Change in cash | - | -€4.9m | -€0.02m | €9.5m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | unclassified schema | 28-08-2026 | 2026-00477640 |
| 31-12-2025 | full format | 01-07-2026 | 2026-00244139 |
| 31-12-2024 | consolidated | 19-11-2025 | 2025-00570610 |
| 31-12-2024 | full format | 05-08-2025 | 2025-00364805 |
| 31-12-2023 | consolidated | 20-03-2025 | 2025-00051756 |
| 31-12-2023 | full format | 02-08-2024 | 2024-00329027 |
| 31-12-2022 | consolidated | 12-04-2024 | 2024-00063573 |
| 31-12-2022 | full format | 23-10-2023 | 2023-00491497 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
5 ownersOwners 5
- Michel HEMBERGnatural personSourceown accounts 202556.48%
- Thierry LEVINTOFFnatural personSourceown accounts 202527.19%
- Kensight Spark I SLPFRSourceown accounts 202511.26%
-
3.73%
-
1.34%
According to the 2025 annual accounts of LISAM EHS SOFTWARE and those of the other companies, 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
Holdings and subsidiaries
4 holdings · 21 subsidiaries in the treeHoldings 4
- COGEN REAL ESTATE & BUSINESS SERVICESsubsidiarySourceact 08-05-2026100%
- DECISION ENGINEERINGsubsidiaryEquity €553,761Result €81,946100%
-
100%
-
100%
All subsidiaries, including indirect ones 21
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- COGEN REAL ESTATE & BUSINESS SERVICES 100%
- DECISION ENGINEERING 100%
- EcomundoFR 100%
LISAM SYSTEMS 100%17 subsidiaries
- LISAM AMERICA INC 100%
- LISAM AUSTRALIA PTY LTDAU 100%
- LISAM ITALY SRLIT 100%
- LISAM SYSTEMS DEUTSCHLANDDE 100%
- LISAM SYSTEMS KOREA CO LTDKP 100%
- LISAM SYSTEMS LTDGB 100%
- LISAM SYSTEMS SRLRO 100%
- LISAM TELEGIS SARLFR 100%
- Lisam.Cloud 100%
- LISAM SYSTEMS INDIA PVT LTDIN 99%
- Multi Purpose Technical Services 99%
- LISAM TECH (BEIJING) COCN 96%
- LISAM IBERIAES 90%
- LISAM YAZILIM LIMITED SIRKETITR 90%
- LISAM SOUTH AFRICAZA 85%
- LISAM NEDERLANDNL 80%
- LISAM ECOADVISORS SYSTEMSBR 66%
According to the 2025 annual accounts of LISAM EHS SOFTWARE and those of the other companies, 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.
Connections & network
The network starts from this company’s shareholders. What else they own or run appears here as nodes.
Acquisitions and mergers
3 transactionsHistory
Acts, filings and financial milestones
08-05
Gazette deed
Capital & shares · Resignations & appointments · RestructuringPermanent representative: DE TINGUY Stanislas · Declaration · Merger18 facts ▸
- Declaration, “statutes unchanged, statuts n'ont plus été modifiés depuis lors” (deed in French)
- General meeting, 30-03-2026
- Merger, “projet de fusion”, 15-10-2025 (deed in French)
- Shareholding, “détient toutes les actions et autres titres conférant le droit de vote” (deed in French)
- Declaration, “simplified procedure, opération assimilée à une fusion par absorption” (deed in French)
- Merger, “intégralité du patrimoine (activement et passivement), décision_de_fusion” (deed in French)
- Declaration, “no special rights, société absorbante détenant 100% des actions de la société absorbée” (deed in French)
- Share cancellation, “annulation, fusion sans création de nouvelles actions” (deed in French)
- Declaration, “no particular advantages, aucun avantage particulier n'est attribué aux organes d'administration” (deed in French)
- Declaration, “no object change, objet de la société absorbée est le même que celui de la société absorbante” (deed in French)
- Transfer of a branch of activity or universality, “universality, patrimoine de la société absorbée” (deed in French)
- Merger, “branch of activity, intégralité du patrimoine (activement et passivement)” (deed in French)
- +6 further facts in this act
18-11
Gazette deed
RestructuringMerger1 fact ▸
- Merger, “Greffe du Tribunal de l'Entreprise de Mons, www.lisam.com” (deed in French)
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 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 12 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
4 establishment units
4 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23078C0183/00Y000 | Flanders | 4,945 m² | 1 · 237 m² | 24.3 m · 7 |
| 25099D0027/00L002 | Wallonia | 4,778 m² | 1 · 1,179 m² | 6.8 m · 2 |
| 25091C0778/00D000indicative | Wallonia | 3,951 m² | 1 · 356 m² | 22.0 m · 7 |
| 55008B0027/00V004 | Wallonia | 670 m² | 1 · 392 m² | - |
How the parcels are linked
Articles of association
- Other provisionsOther rules from the articles that fall under none of the themes above.
- Other provision: “Sûretés pour créanciers, publication à l'annexe au Moniteur belge des procès-verbaux de fusion” (deed in French)Other provision: “Décharge des administrateurs de la société absorbée, entre le début de l'exercice social de la société absorbée et la date de la réalisation…” (deed in French)1 more provision in the deed, see the deed of 08-05-2026
Read from the deeds: 3 provisions, deed of 08-05-2026