Equity
€488,190 ▲ 69.0%
LIZEN - SEPUL has made a profit without a break since 2013.
LIZEN - SEPUL
Lifetime
20 annual accounts with figures on one time axis, 23 filings since 2003Turnoverpeak €1.6m (2025)
€1.6m▲ 17.8%
Resultlowest -€5,534 (2012)
€199,404▲ 186%
Equitypeak €488,190 (2025)
€488,190▲ 69.0%
Debts
€190,523▼ 53.1%
Staffpeak 2.1 FTE (2012)
1.8 FTE▲ 38.5%
Board3 names since 2021
2 directorsLIZEN Eric and 1 other
Documentsfilings and deeds
27-08-202627 days late
2025financial year
Turnover from €1.4m to €1.6mGross margin from €264,209 to €451,797Result from €69,619 to €199,404Staff from 1.3 FTE to 1.8 FTEEquity from €288,787 to €488,190Debts from €405,915 to €190,523
Key points
from the 2025 annual accountsResult
€199,404 ▲ 186%
The result rose in 2025 from €69,619 to €199,404.
Staff
1 employees on 31-12-2025
In 2025, 0 people joined and 1 left.
Payment terms
14 days to suppliers
LIZEN - SEPUL pays its suppliers 27 days earlier than in 2024. Customers pay 10 days earlier.
Liquidity
1.92 was 0.71 in 2024
Short-term debts fell from €378,225 to €190,523.
Filings
23 annual accounts since 2003
Seven of the last ten came late. The 2023 accounts came latest: 27 days after the end of the period.
Checked score
97
Excellent
Financially stronger than 80% of micro companies in forestry (NACE 02)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 532 companies (NACE 02, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.3%▲ +0.1 percentage points vs 07-2025highest value
09-2025: 0.1%▼ -0.2 percentage points vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.2 percentage points vs 07-2026
09-2026: < 0.1%▼ -0.3 percentage points vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Equity €488,190 (71.9% of total assets)
Liquidity: current ratio 1.92, cash €115,065
Sector: Forestry and logging (NACE 02)
Founded in 2003
Calculation
The band follows from the bankruptcy probability. 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 02, micro). It does better than 76% of them on solvency, 64% on liquidity, 96% on profitability and 82% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as LIZEN - SEPUL has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LIZEN - SEPUL itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 31,368 companies, not a prediction for LIZEN - SEPUL. 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.
Credit verdict
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.92 (0.71 in 2024), above the usual 1.5. Short-term debt is 28.1% and cash 17% of total assets. 28.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
19 days late
2023
27 days late
2022
24 days early
2021
5 days late
2020
32 days early
2019
12 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 02), the median for financial year 2024 was 6 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0480748727
Appointment: HAULOT Arnaud (director)
General meeting of 01-10-2022 · Gazette deed
Capital decrease of €90,000 to €62,000
Capital from €152,000 to €62,000 · General meeting of 28-09-2021 · Gazette deed
Reappointments: LIZEN Eric (managing director) and SEPUL Sabine (director)
General meeting of 25-05-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| LIZEN - SEPUL Nassogne | €1.6m | 16.8% | 71.9% | 1.8 |
| ENTREPRISE FORESTIERE STILMANT & FILS Tintigny | €0.5m | 11.5% | 91.4% | 1.3 |
| Société Patrimoniale et Forestière d’Argenteau Visé | - | - | 63.5% | 1 |
| TRANS-PRO-BOIS Houyet | - | - | -1.4% | 3.6 |
| WOOTWOOD Ciney | - | - | 29.5% | 1.3 |
| FOREST MAX Rochefort | - | - | 14.0% | 2 |
| BOMEN GEERTS Kasterlee | - | - | 28.2% | 3.9 |
Grey: the largest companies of the sector (forestry (NACE 02)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as LIZEN - SEPUL: logging (NACE 02200). They are comparable in size and age: total assets between €431,000 and €932,000, founded between 2003 and 2012.
Official details
Source: KBO- Status
- Active since 10-06-2003Normal situation
- Activity
- LoggingNACE 02200and 1 other
- Establishment unit
- 2.132.030.9976950 Nassogne, since 15-07-2003
- Financial year end
- 31 December
- Peppol
- Reachable since 02-07-2025
Annual accounts 2025
- Total assets
- €678,713▼ 2.3%
- Employeeson 31-12-2025
- 1▼ 50.0%
- Filing
- Filed on 27-08-2026
Insights on LIZEN - SEPUL
LIZEN - SEPUL has existed since 2003. Turnover grew from €420,931 in 2006 to €1.6m in 2025.
Solvency rose in 2025 from 41.6% to 71.9% because of the retained profit and lower debts.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about LIZEN - SEPUL
- What is the company number of LIZEN - SEPUL?
- The company number of LIZEN - SEPUL is 0480.748.727. The VAT number is the same number with BE in front: BE 0480.748.727.
- Where is LIZEN - SEPUL based?
- The registered office is at Haute-Voie-de-Marche 16, 6950 Nassogne.Company details
- What does LIZEN - SEPUL do?
- According to the KBO register, the main activity is logging (NACE 02200).
- What is the legal form of LIZEN - SEPUL?
- LIZEN - SEPUL is a public limited company (NV).
- When was LIZEN - SEPUL founded?
- LIZEN - SEPUL was founded on 10-06-2003.
- Is LIZEN - SEPUL still active?
- Yes, LIZEN - SEPUL is an active enterprise in the KBO register.
- How many employees does LIZEN - SEPUL have?
- LIZEN - SEPUL had an average of 1.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of LIZEN - SEPUL?
- The turnover of LIZEN - SEPUL was €1.6m in financial year 2025, according to the filed annual accounts.
- Is LIZEN - SEPUL profitable?
- In financial year 2025, LIZEN - SEPUL made a profit of €199,404.
- Where can I find the annual accounts of LIZEN - SEPUL?
- LIZEN - SEPUL filed 23 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of LIZEN - SEPUL due?
- LIZEN - SEPUL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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