LM.COM
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 03-07-2026 at the NBB all 25 filings
Turnover
≈ €130,000
Estimated: probably between €94,000 and €160,000
Total assets
€359,864▼ 2.0%
2025 · €367,181
Net result
€37,829
2025 · -€171,212
Working capital
-€168,967▲ 11.3%
2025 · -€190,424
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€42,940
2026
20192026
Net result
€37,829
2026
20192026
Equity
€9,687
2026
20192026
Total assets
€359,864
▼ 2.0%
2026
20192026
Debt
€350,176
▼ 11.4%
2026
20192026
Working capital
-€168,967
▲ 11.3%
2026
20192026
Solvency
2.7%
▲ 10.4pp
2026
20192026
Current ratio
0.17
▲ 0.05
2026
20192026
Return on assets (ROA)
10.5%
▲ 57.1pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€16,185-€17,582€8,945▼ 49.1%€27,000▲ 202%€42,889▲ 58.9%-€23,486-€137,789▼ 487%€42,940
Net result-€28,106-€4,931€344below the sector's middle half▼ 93.0%€12,109within the sector's middle half▲ 35×€33,862within the sector's middle half▲ 180%-€35,509below the sector's middle half-€171,212below the sector's middle half▼ 382%€37,829
Equity€127,334-€132,265▲ 3.9%€132,609within the sector's middle half▲ 0.3%€144,718within the sector's middle half▲ 9.1%€178,580within the sector's middle half▲ 23.4%€143,071within the sector's middle half▼ 19.9%-€28,142below the sector's middle half€9,687
Total assets€533,812-€525,395▼ 1.6%€487,756within the sector's middle half▼ 7.2%€524,360above the sector's middle half▲ 7.5%€551,302above the sector's middle half▲ 5.1%€591,769above the sector's middle half▲ 7.3%€367,181within the sector's middle half▼ 38.0%€359,864▼ 2.0%
Debt€406,478-€393,130▼ 3.3%€355,147▼ 9.7%€379,642▲ 6.9%€372,722▼ 1.8%€448,698▲ 20.4%€395,323▼ 11.9%€350,176▼ 11.4%
Working capital-€29,131--€142,472▼ 389%-€140,351below the sector's middle half▲ 1.5%-€100,405below the sector's middle half▲ 28.5%-€79,342below the sector's middle half▲ 21.0%-€28,453below the sector's middle half▲ 64.1%-€190,424below the sector's middle half▼ 569%-€168,967▲ 11.3%
Solvency23.9%-25.2%▲ 1.3pp27.2%within the sector's middle half▲ 2.0pp27.6%within the sector's middle half▲ 0.4pp32.4%within the sector's middle half▲ 4.8pp24.2%below the sector's middle half▼ 8.2pp-7.7%below the sector's middle half▼ 31.8pp2.7%▲ 10.4pp
Current ratio0.62-0.25▼ 0.370.24below the sector's middle half▼ 0.010.52below the sector's middle half▲ 0.280.66below the sector's middle half▲ 0.140.88below the sector's middle half▲ 0.220.12below the sector's middle half▼ 0.760.17▲ 0.05
Return on assets (ROA)-5.3%-0.9%▲ 6.2pp0.1%below the sector's middle half▼ 0.9pp2.3%within the sector's middle half▲ 2.2pp6.1%within the sector's middle half▲ 3.8pp-6.0%below the sector's middle half▼ 12.1pp-46.6%below the sector's middle half▼ 40.6pp10.5%▲ 57.1pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a profit of €42,940, after a loss of €137,789 in 2025. It is the highest result since 2022.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €359,864
Fixed assets
€326,155 ▼ 4.4%
Current assets
€33,709 ▲ 28.9%
Equity and liabilities €359,864
Equity
€9,687
Debt
€350,176
Debt's share of the balance-sheet total is 97.3%.
Key figures and ratios
EBITDA
€61,138▲
2025 · -€120,240
Cash flow
€56,027▲
2025 · -€153,664
Quick ratio
0.11▲
2025 · 0.06
Debt to equity
36.15
ROE
390.5%
Interest coverage
11.96▲
2025 · -14.27
Debt ≤ 1 year
€202,676▼
2025 · €216,573
Debt > 1 year
€147,500▼
2025 · €177,500
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,817 | €3,330 | €2,120 | €807 | €3,320 |
| Depreciation and write-downs of the year | €33,652 | €20,532 | €17,267 | €17,549 | €18,198 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,966 | €34,511 | €34,511 | €33,652 | €20,532 | €17,267 | €17,549 | €18,198 | ▲ 3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €60,000 | - | - | - |
| Other operating charges640/8 | - | - | - | €388 | €348 | €424 | €175,236 | €400 | ▼ 99.8% |
| Gross operating margin9900 | €30,862 | €54,780 | €43,804 | €61,040 | €63,769 | €54,206 | €54,995 | €61,538 | ▲ 11.9% |
| Operating profit (loss)9901 | -€16,185 | €17,582 | €8,945 | €27,000 | €42,889 | -€23,486 | -€137,789 | €42,940 | - |
| Financial income75/76B | - | - | - | €2 | €0 | - | - | €1 | - |
| Recurring financial income75 | - | - | - | €2 | €0 | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €7,873 | €6,254 | €12,023 | €33,423 | €5,113 | ▼ 84.7% |
| Recurring financial charges65 | €10,328 | €12,536 | €8,601 | €7,873 | €6,254 | €12,023 | €8,423 | €5,113 | ▼ 39.3% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €25,000 | - | - |
| Profit (loss) for the period before taxes9903 | -€26,513 | €5,046 | €344 | €19,129 | €36,636 | -€35,509 | -€171,212 | €37,829 | - |
| Income taxes67/77 | €1,593 | €115 | €0 | €7,019 | €2,774 | - | - | - | - |
| Profit (loss) for the period9904 | -€28,106 | €4,931 | €344 | €12,109 | €33,862 | -€35,509 | -€171,212 | €37,829 | - |
| Profit (loss) for the period to be appropriated9905 | -€28,106 | €4,931 | €344 | €12,109 | €33,862 | -€35,509 | -€171,212 | €37,829 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €533,812 | €525,395 | €487,756 | €524,360 | €551,302 | €591,769 | €367,181 | €359,864 | ▼ 2.0% |
| Fixed assets21/28 | €486,465 | €477,470 | €442,959 | €415,123 | €397,922 | €382,774 | €341,033 | €326,155 | ▼ 4.4% |
| Tangible fixed assets22/27 | €486,415 | €452,421 | €417,910 | €390,074 | €372,872 | €357,725 | €340,983 | €326,105 | ▼ 4.4% |
| Land and buildings22 | - | - | - | €380,912 | €366,230 | €351,548 | €336,866 | €322,184 | ▼ 4.4% |
| Plant, machinery and equipment23 | - | - | - | €4,022 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €5,140 | €6,642 | €6,177 | €4,117 | €3,921 | ▼ 4.8% |
| Financial fixed assets28 | €50 | €25,050 | €25,050 | €25,050 | €25,050 | €25,050 | €50 | €50 | = |
| Current assets29/58 | €47,347 | €47,924 | €44,796 | €109,237 | €153,380 | €208,995 | €26,148 | €33,709 | ▲ 28.9% |
| Amounts receivable after more than one year29 | - | - | - | €85,000 | €125,000 | €172,454 | - | - | - |
| Trade receivables290 | - | - | - | €85,000 | €125,000 | €172,454 | - | - | - |
| Stocks and contracts in progress3 | €3,438 | €3,438 | €3,438 | €3,438 | €11,821 | €11,821 | €12,146 | €10,945 | ▼ 9.9% |
| Stocks30/36 | - | - | - | €3,438 | €11,821 | €11,821 | €12,146 | €10,945 | ▼ 9.9% |
| Amounts receivable within one year40/41 | €1,270 | €4,891 | €2,309 | €1,344 | €8,546 | €17,105 | €2,388 | €3,484 | ▲ 45.9% |
| Trade receivables40 | - | - | - | €545 | €7,772 | €8,055 | - | €327 | - |
| Other amounts receivable41 | - | - | - | €800 | €774 | €9,049 | €2,388 | €3,157 | ▲ 32.2% |
| Current investments50/53 | €25,000 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €17,639 | €14,595 | €14,049 | €19,454 | €7,716 | €6,981 | €11,265 | €19,280 | ▲ 71.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €297 | €634 | €350 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €533,812 | €525,395 | €487,756 | €524,360 | €551,302 | €591,769 | €367,181 | €359,864 | ▼ 2.0% |
| Equity10/15 | €127,334 | €132,265 | €132,609 | €144,718 | €178,580 | €143,071 | -€28,142 | €9,687 | - |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €119,274 | €124,205 | €124,549 | €136,658 | €170,520 | €135,011 | -€36,202 | €1,627 | - |
| Amounts payable17/49 | €406,478 | €393,130 | €355,147 | €379,642 | €372,722 | €448,698 | €395,323 | €350,176 | ▼ 11.4% |
| Amounts payable after more than one year17 | €330,000 | €202,733 | €170,000 | €170,000 | €140,000 | €210,000 | €177,500 | €147,500 | ▼ 16.9% |
| Financial debts170/4 | - | - | - | €170,000 | €140,000 | €210,000 | €177,500 | €147,500 | ▼ 16.9% |
| Amounts payable within one year42/48 | €76,478 | €190,397 | €185,147 | €209,642 | €232,722 | €237,448 | €216,573 | €202,676 | ▼ 6.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €4,303 | - | - | - |
| Financial debts43 | - | - | - | €100,000 | €100,000 | €190 | - | - | - |
| Credit institutions430/8 | - | - | - | - | - | €190 | - | - | - |
| Other loans439 | - | - | - | €100,000 | €100,000 | - | - | - | - |
| Trade debts44 | €4,536 | €34 | €407 | €940 | €286 | €269 | €115 | - | - |
| Suppliers440/4 | - | - | - | €940 | €286 | €269 | €115 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,519 | €9,745 | - | €1,500 | €1,500 | = |
| Taxes450/3 | - | - | - | €1,519 | €9,745 | - | €1,500 | €1,500 | = |
| Other amounts payable47/48 | - | - | - | €107,183 | €122,691 | €232,687 | €214,958 | €201,176 | ▼ 6.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €1,250 | €1,250 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€28,106 | €4,931 | €344 | €12,109 | €33,862 | -€35,509 | -€171,212 | €37,829 | - |
| + Depreciation and write-downs630 | €40,966 | €34,511 | €34,511 | €33,652 | €20,532 | €17,267 | €17,549 | €18,198 | ▲ 3.7% |
| Operating cash flow (approximation) | €12,860 | €39,442 | €34,855 | €45,762 | €54,394 | -€18,242 | -€153,664 | €56,027 | - |
| Investment in fixed assets (approximation) | - | -€25,517 | €0 | -€5,817 | -€3,330 | -€2,120 | €24,193 | -€3,320 | - |
| Change in cash | - | -€3,044 | -€546 | €5,405 | -€11,738 | -€735 | €4,284 | €8,015 | ▲ 87.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 931 companies had the same profile as LM.COM has now. Two years later, 93.2% were still going and 1.9% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
93.2%
was still going
4.5%
stopped otherwise
1.9%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LM.COM itself is lower: 0.1% within 12 months. It rests on far more data about LM.COM than the profile alone.
Test of the method
The method was tested on the 497,446 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 931 companies, not a prediction for LM.COM. 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.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 03-07-2026 | 2026-00249759 | |
| 31-03-2025 | micro format | 24-10-2025 | 2025-00548987 | |
| 31-03-2024 | micro format | 24-09-2024 | 2024-00469611 | |
| 31-03-2023 | micro format | 10-08-2023 | 2023-00326760 | |
| 31-03-2022 | micro format | 20-07-2022 | 2022-20206959 | |
| 31-03-2021 | micro format | 30-06-2021 | 2021-29000384 | |
| 31-03-2020 | micro format | 10-07-2020 | 2020-28200154 | |
| 31-03-2019 | abbreviated format | 26-09-2019 | 2019-65800083 | |
| 31-03-2018 | abbreviated format | 29-08-2018 | 2018-54100093 | |
| 31-03-2017 | micro format | 21-09-2017 | 2017-62100215 |