Investments
Green is investment, beige is depreciation.
Green is investment, beige is depreciation.
More staff in 2025 from 4.2 FTE to 8.2 FTE.
Latest accounts filed late: after the legal deadline.
The dashed line is the sector median: 2.6% across 916 companies (NACE 53, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 53, micro). It does better than 52% of them on solvency, 33% on liquidity, 54% on profitability and 87% on growth.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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).
In July 2024, 34,693 companies had the same profile as LM CONSTRUCT has now. Each dot stands for 87 companies, two years later.
The bankruptcy probability of LM CONSTRUCT itself is higher: 1.9% within 12 months. It rests on far more data about LM CONSTRUCT than the profile alone.
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 34,693 companies, not a prediction for LM CONSTRUCT. 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.
Liquidity is tight, with a current ratio of 1.25 (1.31 in 2024), below the usual 1.5. Short-term debt is 64.9% and cash 10.6% of total assets. 64.9% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 153 days after the deadline. In the sector (NACE 53), the median for financial year 2024 was 13 days after the deadline, and 56% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| LM CONSTRUCT Charleroi | €221,966 | €300,217 | 35.1% | - |
| PACACARS Oostrozebeke | €230,978 | €281,383 | 50.6% | - |
| FAST ANTWERP SERVICE Grimbergen | €245,164 | €329,297 | 84.0% | - |
| Belgium Aviation Services Antwerp | €229,743 | €347,983 | 63.5% | - |
| EXPRESS WAY Wemmel | €204,563 | €356,801 | -36.9% | - |
| KOBA EXPRESS Seneffe | €333,908 | €257,006 | 0.3% | - |
| POSTALUX SOLUTIONS Brecht | €221,006 | €213,370 | 76.6% | - |
These companies have the same main activity as LM CONSTRUCT: other postal and courier activities (NACE 53200). They are comparable in size and age: total assets between €205,000 and €334,000, founded between 2014 and 2016.
LM CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €1,179 in 2015 to €300,217 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 54% of 630 companies in 2025.
Higher than 51% of 599 companies in 2025.
Higher than 75% of 601 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 32 people joined and 26 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
221,966 | 149,994 | 53,056 | 36,844 | 27,007 | 10,907 | 64,348 | 56,417 | 80,725 | 50,986 | 15,734 | |
21/28 |
42,278 | 9,463 | 13,260 | - | - | - | 3,162 | 6,324 | - | - | - | |
22/27 |
42,278 | 9,463 | 13,260 | - | - | - | 3,162 | 6,324 | - | - | - | |
23 |
5,945 | - | - | - | - | - | - | - | - | - | - | |
24 |
36,334 | 9,463 | 13,260 | - | - | - | 3,162 | 6,324 | - | - | - | |
29/58 |
179,688 | 140,531 | 39,796 | 36,844 | 27,007 | 10,907 | 61,185 | 50,092 | 80,725 | 50,986 | 15,734 | |
3 |
- | - | - | - | - | - | - | - | 50,000 | 50,000 | - | |
30/36 |
- | - | - | - | - | - | - | - | 50,000 | 50,000 | - | |
40/41 |
156,135 | 122,880 | 36,920 | 35,870 | 26,054 | 10,868 | 57,275 | 4,622 | 30,485 | 557 | 13,858 | |
40 |
125,973 | 107,530 | 17,287 | 25,229 | 25,229 | 7,299 | 49,737 | 2,002 | 30,000 | - | 13,600 | |
41 |
30,162 | 15,350 | 19,633 | 10,641 | 825 | 3,569 | 7,538 | 2,620 | 485 | 557 | 259 | |
50/53 |
- | 17,651 | - | - | - | - | - | - | - | - | - | |
54/58 |
23,553 | - | 2,672 | 974 | 953 | 38 | 3,842 | 44,663 | 240 | 429 | 1,876 | |
490/1 |
- | - | 203 | - | - | - | 69 | 807 | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
221,966 | 149,994 | 53,056 | 36,844 | 27,007 | 10,907 | 64,348 | 56,417 | 80,725 | 50,986 | 15,734 | |
10/15 |
77,869 | 42,706 | 38,269 | 28,281 | 16,809 | 5,033 | 39,116 | 27,257 | 23,872 | 21,051 | 7,032 | |
10/11 |
8,060 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
35,163 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
130/1 |
- | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
1311 |
- | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
133 |
35,163 | - | - | - | - | - | - | - | - | - | - | |
14 |
34,646 | 34,646 | 30,209 | 20,221 | 8,749 | -3,027 | 31,056 | 19,197 | 15,812 | 14,851 | 832 | |
17/49 |
144,097 | 107,288 | 14,787 | 8,563 | 10,198 | 5,873 | 25,232 | 29,160 | 56,853 | 29,935 | 8,702 | |
42/48 |
144,097 | 107,288 | 14,787 | 8,563 | 10,198 | 5,873 | 25,232 | 29,160 | 56,853 | 29,935 | 8,702 | |
44 |
66,109 | 52,426 | 1,866 | 261 | 774 | - | - | 20,456 | 9,138 | 514 | 1,409 | |
440/4 |
66,109 | 52,426 | 556 | 261 | 774 | - | - | 20,456 | 9,138 | 514 | 1,409 | |
441 |
- | - | 1,310 | - | - | - | - | - | - | - | - | |
45 |
77,988 | 54,861 | 12,921 | 8,303 | 5,099 | 5,628 | 5,482 | 7,401 | 25,622 | 18,839 | 3,670 | |
450/3 |
62,663 | 43,944 | 12,921 | 8,303 | 5,099 | 4,278 | 5,482 | 1,866 | 8,086 | 12,295 | 1,670 | |
454/9 |
15,325 | 10,918 | - | - | - | 1,350 | - | 5,536 | 17,536 | 6,544 | 2,000 | |
47/48 |
- | - | - | - | 4,326 | 245 | 19,750 | 1,303 | 22,094 | 10,582 | 3,624 | |
| Income statement | ||||||||||||
70 |
657,633 | - | - | - | 51,675 | 4,879 | 60,859 | 53,168 | 51,509 | 70,789 | 20,680 | |
76A |
- | - | - | 1 | - | - | - | 20,000 | - | - | - | |
9900 |
300,217 | 102,549 | 18,039 | 16,066 | 13,836 | -30,145 | 20,038 | 5,187 | 12,758 | 29,634 | 1,179 | |
60/61 |
396,638 | - | - | - | 37,839 | 35,025 | 40,821 | 67,981 | 38,752 | 41,155 | 19,500 | |
62 |
239,073 | 63,494 | - | - | - | - | - | - | 2,099 | 579 | - | |
630 |
9,610 | 9,797 | 1,092 | - | - | 3,162 | 3,162 | 3,162 | - | - | - | |
635/8 |
- | - | - | - | - | - | - | -3,859 | - | - | - | |
640/8 |
6,360 | 13,483 | 525 | - | 1,589 | 642 | 1,077 | - | 6,661 | 6,288 | 50 | |
66A |
460 | - | - | - | 180 | - | - | 119 | - | 265 | - | |
9901 |
44,714 | 15,776 | 16,423 | 16,066 | 12,067 | -33,950 | 15,799 | 5,765 | 3,998 | 22,503 | 1,129 | |
75/76B |
2,179 | - | - | 611 | - | - | - | - | 0 | 0 | - | |
75 |
2,179 | - | - | 611 | - | - | - | - | 0 | 0 | - | |
65/66B |
9,854 | 6,583 | 1,468 | 161 | 292 | 154 | 129 | 710 | 237 | 1,129 | 20 | |
65 |
9,854 | 6,499 | 1,468 | 161 | 292 | 154 | 129 | 710 | 237 | 1,129 | 20 | |
66B |
- | 83 | - | - | - | - | - | - | - | - | - | |
9903 |
37,039 | 9,193 | 14,955 | 16,516 | 11,775 | -34,104 | 15,670 | 5,055 | 3,761 | 21,374 | 1,109 | |
67/77 |
1,876 | 4,756 | 4,967 | 5,043 | - | -21 | 3,811 | 1,670 | 940 | 7,355 | 277 | |
9904 |
35,163 | 4,437 | 9,988 | 11,473 | 11,775 | -34,082 | 11,859 | 3,385 | 2,820 | 14,019 | 832 | |
9905 |
35,163 | 4,437 | 9,988 | 11,473 | 11,775 | -34,082 | 11,859 | 3,385 | 2,820 | 14,019 | 832 | |
| Appropriation of the result | ||||||||||||
9906 |
69,809 | 34,646 | 30,209 | 20,221 | 8,749 | -3,027 | 31,056 | 19,197 | 17,672 | 14,851 | 832 | |
14P |
34,646 | 30,209 | 20,221 | 8,748 | -3,027 | - | - | - | - | - | - | |
691/2 |
35,163 | - | - | - | - | - | - | - | 1,860 | - | - | |
6920 |
- | - | - | - | - | - | - | - | 1,860 | - | - | |
6921 |
35,163 | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||
9087 |
8.2 | 4.2 | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
6,947 | 2,126 | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||
The notes to these accounts have 5 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 30-09-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00552552 | |
| 31-12-2024 | micro format | 14-07-2025 | 2025-00264986 | |
| 31-12-2023 | micro format | 11-02-2025 | 2025-00032802 | |
| 31-12-2022 | micro format | 11-02-2025 | 2025-00032801 | |
| 31-12-2021 | micro format | 03-01-2023 | 2023-20556323 | |
| 31-12-2020 | micro format | 27-10-2021 | 2021-75700445 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-44800122 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-58800225 | |
| 31-12-2017 | micro format | 25-09-2018 | 2018-64700485 | |
| 31-12-2016 | micro format | 11-08-2017 | 2017-43200586 | |
| 31-12-2015 | full format | 19-08-2016 | 2016-44600024 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 54,324 | 25,573 | 17,515 | - | - | -30,788 | 18,961 | 8,927 | - | - | - | ||
| 44,773 | 14,234 | 11,080 | - | - | -30,920 | 15,021 | 6,547 | - | - | - | ||
| 42,425 | 3,000 | 23,839 | - | - | 0 | 0 | 9,486 | - | - | - | ||
| - | - | 1,698 | 21 | 914 | -3,804 | -40,821 | 44,423 | -190 | -1,447 | - | ||
| 35,591 | 33,243 | 25,009 | 28,281 | 16,809 | 5,033 | 35,954 | 20,933 | 23,872 | 21,051 | 7,032 | ||
| 6.8% | - | - | - | 23.4% | - | 26.0% | 10.8% | 7.8% | 31.8% | 5.5% | ||
| 35.1% | 28.5% | 72.1% | 76.8% | 62.2% | 46.1% | 60.8% | 48.3% | 29.6% | 41.3% | 44.7% | ||
| 1.25 | 1.31 | 2.69 | 4.30 | 2.65 | 1.86 | 2.42 | 1.72 | 1.42 | 1.70 | 1.81 | ||
| 1.25 | 1.31 | 2.69 | 4.30 | 2.65 | 1.86 | 2.42 | 1.72 | 0.54 | 0.03 | 1.81 | ||
| 1.85 | 2.51 | 0.39 | 0.30 | 0.61 | 1.17 | 0.65 | 1.07 | 2.38 | 1.42 | 1.24 | ||
| 45.2% | 10.4% | 26.1% | 40.6% | 70.1% | -677.1% | 30.3% | 12.4% | 11.8% | 66.6% | 11.8% | ||
| 15.8% | 3.0% | 18.8% | 31.1% | 43.6% | -312.5% | 18.4% | 6.0% | 3.5% | 27.5% | 5.3% | ||
| 5.51 | 3.93 | 11.93 | - | - | - | - | - | - | - | - | ||
| 70 days | - | - | - | 178 days | 546 days | 298 days | 14 days | 213 days | 3 days | 240 days | ||
| 61 days | - | - | - | 7 days | - | - | 110 days | 86 days | 5 days | 26 days |
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.
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 14 | - |
| full-time | 2 | - |
| part-time | 12 | - |
| in full-time equivalents | 6.3 | 3.1 |
| 4.7 | 1.4 | |
| On a permanent contract | 5 | 2 |
| Joined | 32 | 23 |
| Left | 26 | 15 |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €42,425 | €3,000 | €23,839 | - | - |
| €9,610 | €9,797 | €1,092 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 183% higher than in 2024 and the highest since 2015. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 71.5% to 64.9%. Equity and debt are higher.
LM CONSTRUCT has no parent and no holdings in its annual accounts. LALLALI Larbi is the only director. LM CONSTRUCT shares no director with another company.
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 |
|---|---|---|
| Chaussée de Fleurus 52 registered office 6060 Charleroi | 20-10-2014 | 2.239.415.046 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 52026C0327/00T000 | 95 m² | 1 · 59 m² | 12.7 m · 4 |
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 0564.856.734
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