LIZEN - SEPUL
ActiveLIZEN - SEPUL has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €488k and a net result of €199k. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 73% of 87 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
92
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+18
Solvency97▲+30
Growth75▲+1
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 1.92 against 0.71 in 2024; short-term debt: 28.1% and cash: 17% of total assets), and 28.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 02
Relative position
BE, all sectors
reference
Sector 02
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
71.9%
Return on assets
29.4%
Age of the figures
9 mo
neutral · Filed after the deadline
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. 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
27 d late
2024
19 d late
2023
27 d late
2022
24 d early
2021
5 d late
2020
32 d early
2019
12 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.62M▲ 17.8%
2024 · €1.37M
2018: €787k
2019: €704k
2020: €824k
2021: €986k
2022: €1.46M
2023: €1.37M
2024: €1.37M
2018 → 2025
EBIT margin
16.8%▲ 9.4pp
2024 · 7.3%
2018: 4.1%
2019: 4.4%
2020: 3.2%
2021: 1.9%
2022: 2.2%
2023: 3.3%
2024: 7.3%
2018 → 2025
Net result
€199k▲ 186%
2024 · €70k
2018: €26k
2019: €21k
2020: €20k
2021: €21k
2022: €22k
2023: €31k
2024: €70k
2018 → 2025
Working capital
€175k
2024 · €-108k
2018: €132k
2019: €150k
2020: €192k
2021: €118k
2022: €-60k
2023: €-198k
2024: €-108k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€986k-€1.46M▲ 48.3%€1.37M▼ 6.2%€1.37M=€1.62M▲ 17.8%
Equity€335k-€230k▼ 31.3%€238k▲ 3.4%€289k▲ 21.3%€488k▲ 69.0%
Operating result€19k-€31k▲ 65.6%€45k▲ 44.4%€101k▲ 121%€271k▲ 169%
Net result€21k-€22k▲ 0.9%€31k▲ 42.7%€70k▲ 126%€199k▲ 186%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 169% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €679k
Fixed assets
€314k▼ 26.1%
Current assets
€365k▲ 35.1%
Equity and liabilities €679k
Equity
€488k▲ 69.0%
Debt
€191k▼ 53.1%
The debt ratio falls from 58.4% to 28.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€400k▲
2024 · €222k
Cash flow
€329k▲
2024 · €191k
Solvency
71.9%▲
2024 · 41.6%
Current ratio
1.92▲
2024 · 0.71
Quick ratio
0.87▲
2024 · 0.32
Debt / equity
0.39▼
2024 · 1.41
ROE
40.8%▲
2024 · 24.1%
ROA
29.4%▲
2024 · 10.0%
Interest coverage
109.41▲
2024 · 47.05
Debt
€191k▼
2024 · €406k
Debt ≤ 1 year
€191k▼
2024 · €378k
Debt > 1 year
€0▼
2024 · €28k
Income taxes
€72k▲
2024 · €27k
Staff costs
€45k▲
2024 · €41k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€695k€679k▼
Fixed assets21/28€424k€314k▼
Tangible fixed assets22/27€424k€314k▼
Land and buildings22€45k€14k▼
Plant, machinery and equipment23€109k€63k▼
Furniture and vehicles24€271k€236k▼
Current assets29/58€270k€365k▲
Stocks and contracts in progress3€150k€200k▲
Stocks30/36€150k€200k▲
Amounts receivable within one year40/41€77k€40k▼
Trade receivables40€66k€35k▼
Other amounts receivable41€11k€5k▼
Cash at bank and in hand54/58€42k€115k▲
Deferred charges and accrued income490/1€1k€10k▲
Equity and liabilities
Total equity and liabilities10/49€695k€679k▼
Equity10/15€289k€488k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€174k€174k=
Non-distributable reserves130/1€14k€14k=
Legal reserve130€14k€14k=
Distributable reserves133€160k€160k=
Profit (loss) carried forward14€53k€252k▲
Amounts payable17/49€406k€191k▼
Amounts payable after more than one year17€28k€0▼
Financial debts170/4€28k€0▼
Amounts payable within one year42/48€378k€191k▼
Current portion of amounts payable after more than one year42€32k€28k▼
Trade debts44€128k€46k▼
Suppliers440/4€128k€46k▼
Taxes, remuneration and social security45€32k€102k▲
Taxes450/3€25k€96k▲
Remuneration and social security454/9€7k€6k▼
Other amounts payable47/48€187k€15k▼
Income statement
Code20242025
Turnover70€1.37M€1.62M▲
Non-recurring operating income76A€22k-
Goods, raw materials, services and sundry goods60/61€1.13M€1.16M▲
Remuneration, social security and pensions62€41k€45k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€122k€129k▲
Other operating charges640/8€1k€48▼
Non-recurring operating charges66A-€7k
Gross operating margin9900€264k€452k▲
Operating profit (loss)9901€101k€271k▲
Financial income75/76B€1k€4k▲
Recurring financial income75€1k€4k▲
Financial charges65/66B€5k€4k▼
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€97k€271k▲
Income taxes67/77€27k€72k▲
Profit (loss) for the period9904€70k€199k▲
Profit (loss) for the period to be appropriated9905€70k€199k▲
Appropriation of the result
Profit (loss) to be appropriated9906€123k€252k▲
Profit (loss) brought forward from the previous period14P€53k€53k=
Transfer from equity791/2€19k-
Transfer to equity691/2€70k-
To other reserves6921€70k-
Profit to be distributed694/7€19k-
Return on contributions (dividend)694€19k-
Social balance
Average headcount (FTE)90871.31.8▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
31-12
Financial
Highest result since 2018net €199k ▲186%
Operating result €271k, net result €199k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.92
Current ratio from 0.71 to 1.92; short-term debt falls from €378k to €191k.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 5 days late
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €20k ▼2.6%
Net result drops to €20k, the lowest in the series; recovery starts the following year.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 12 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 8 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Nassogne · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Haute-Voie-de-Marche 166950 NassogneGround area
763 m²
Building footprint
140 m²
Volume, LiDAR
831 m³
Parcel 83040A1156/00P000, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LIZEN-SEPUL
since 20032.132.030.997
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83040A1156/00P000 | Wallonia | 763 m² | 1 · 140 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 0635.523.610
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Manhay · Eq €486k
La Heid des chênes
BE 0465.357.795
Sprimont · Eq €484k
FORESTIERE ET FINANCIERE
BE 0418.561.730
Namur · Eq €494k
LE GRUBOIS
BE 0444.884.758
Nassogne · Eq €481k
Of 1,556 companies in sector 02200 we hold annual accounts for 449. 326 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-06-2003
Fiscal year end31-12
Activities, NACEBEL
02012
02200Logging
93022
96022Beauty treatment
96220Beauty care and other beauty treatments
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.