Overdue debts
€64,478 on 31-03-2025
The annual accounts state €64,478 of overdue social security (RSZ) debts on 31-03-2025.
LMBA - LES MAITRES BOUCHERS D'ARDENNE
Lifetime
19 annual accounts with figures on one time axis, 22 filings since 2004peak €2.1m (2025)
€2.1m▲ 6.6%
lowest -€288,279 (2022)
€60,679▲ 13.1%
peak -€19,563 (2021)
-€292,925▲ €60,679
€2.0m▲ 8.3%
peak 61.7 FTE (2012)
58.8 FTE▲ 6.7%
Board3 names since 2003
1 directorG.S.B.M. S.A.
Owners
99.5%G.S.B.M.
Documentsfilings and deeds
27-12-202557 days late
2025financial year
Equity from -€353,604 to -€292,925
Key points
from the 2025 annual accountsEquity
-€292,925
Debts exceed assets in financial year 2025.
Debts
€2.0m 117% of the balance sheet
Financial debts 4%Suppliers 71%Taxes and wages 22%Other 3%
Of this, €1.9m falls due within a year.
Staff
69 employees on 31-03-2025
In 2025, 20 people joined and 17 left.
Filings
22 annual accounts 10 days past the deadline
2026 accounts not filed: deadline was 31-10-2026.
Position in the sector
-€292,925
Less equity than 95% of companies in retail trade. Sector median €446,468 · 5,070 companies.
Checked score
54
Fair
Financially stronger than 44% of medium-sized companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.0% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 385 companies (NACE 47, medium-sized).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.5%
01-2025: 1.5%● unchanged vs 12-2024
02-2025: 1.5%● unchanged vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.5%● unchanged vs 03-2025
05-2025: 1.5%● unchanged vs 04-2025
06-2025: 1.5%● unchanged vs 05-2025
07-2025: 1.5%● unchanged vs 06-2025
08-2025: 1.5%● unchanged vs 07-2025
09-2025: 1.4%▼ -0.1 percentage points vs 08-2025lowest value
10-2025: 1.5%▲ +0.1 percentage points vs 09-2025
11-2025: 1.9%▲ +0.4 percentage points vs 10-2025
12-2025: 2.1%▲ +0.2 percentage points vs 11-2025
01-2026: 2.1%● unchanged vs 12-2025highest value
02-2026: 1.8%▼ -0.3 percentage points vs 01-2026
03-2026: 1.8%● unchanged vs 02-2026
04-2026: 1.8%● unchanged vs 03-2026
05-2026: 1.8%● unchanged vs 04-2026
06-2026: 1.8%● unchanged vs 05-2026
07-2026: 1.7%▼ -0.1 percentage points vs 06-2026
08-2026: 1.7%● unchanged vs 07-2026
09-2026: 1.6%▼ -0.1 percentage points vs 08-2026
10-2026: 1.8%▲ +0.2 percentage points vs 09-2026
11-2026: 2.0%▲ +0.2 percentage points vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€292,925
5 establishment units
lowers risk
Founded in 2003
Liquidity: current ratio 0.77, cash €258,662
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 47, medium-sized). It does better than 4% of them on solvency, 23% on liquidity, 76% on profitability and 73% on growth.
The bankruptcy probability was computed on 10-11-2026 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 31-03-2025.
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).
Comparable companies, two years later
In July 2024, 133 companies had the same profile as LMBA - LES MAITRES BOUCHERS D'ARDENNE has now. Each dot is one company, two years later.
94.7%
were still trading
3.8%
stopped another way
0.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LMBA - LES MAITRES BOUCHERS D'ARDENNE itself is higher: 2.0% within 12 months. It rests on far more data about LMBA - LES MAITRES BOUCHERS D'ARDENNE than the profile alone.
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 133 companies, not a prediction for LMBA - LES MAITRES BOUCHERS D'ARDENNE. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.77 (0.72 in 2024), below 1. Short-term debt is 113.3% and cash 15.4% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 5069 sector peers (2025).
NBB · sector comparisonPosition among 5069 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-12-2025, 57 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2026
not filed
2025
57 days late
2024
1 day early
2023
5 days early
2022
3 days early
2021
29 days late
2020
11 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 15 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0480035578
1 manager resigning, 1 director reappointed
Resignation: G.S.B.M. (manager) · Reappointment: DEROANNE Jean-Luc Nestor Joseph Ghislain (director) · Permanent representative: DEROANNE Jean-Luc Nestor Joseph Ghislain · General meeting of 14-12-2023 · Gazette deed
New establishment in Saint-Vith
Les Maîtres Bouchers d' Ardenne, Luxemburger Strasse 50
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| LMBA - LES MAITRES BOUCHERS D'ARDENNE Stavelot | €1.7m | €2.1m | -17.5% | 58.8 |
| GESFRAIS Aubel | €1.4m | €1.0m | 22.4% | 35.2 |
| VERSMARKT DELVA Veurne | €2.6m | €2.2m | 50.6% | 37.4 |
| SLAGERIJ BLOCKEEL Oudenaarde | €1.1m | €1.4m | 16.3% | 34.7 |
| STEMA MEAT Liège | €2.8m | €1.8m | 37.4% | 31.5 |
| AULA Ghent | €1.9m | €1.9m | 17.6% | - |
| CARMANS E&L Beringen | €4.0m | €3.5m | 39.5% | 37.8 |
These companies have the same main activity as LMBA - LES MAITRES BOUCHERS D'ARDENNE: retail sale of meat and meat products, excluding game and poultry (NACE 47221). They are comparable in size and age: total assets between €1.1m and €4m, founded between 1989 and 2012.
Official details
Source: KBO- Status
- Active since 07-04-2003Normal situation
- Activity
- Retail sale of meat and meat products, excluding game and poultryNACE 47221and 3 others
- Joint committees
- 119Food trade
- 201Independent retail · annual accounts 31-03-2025
- Establishment units
- 2.196.361.7934760 Bullange, since 01-04-2003
- 2.196.367.1394960 Malmedy, since 01-01-2005and 3 others
- Financial year end
- 31 March
- Peppol
- Reachable since 30-10-2025
Annual accounts to 31-03-2025
- ≈ €8.0mestimated
- €1.7m▲ 14.5%
- Employeeson 31-03-2025
- 69▼ 4.2%
- Filing
- Filed on 27-12-2025
Insights on LMBA - LES MAITRES BOUCHERS D'ARDENNE
LMBA - LES MAITRES BOUCHERS D'ARDENNE has existed since 2003. The gross margin grew from €1.0m in 2007 to €2.1m in 2025 and staff from 41.3 to 58.8 full-time equivalents.
Solvency rose in 2025 from -24.1% to -17.5% because of the retained profit.
G.S.B.M. holds all the shares.
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 LMBA - LES MAITRES BOUCHERS D'ARDENNE
- What is the company number of LMBA - LES MAITRES BOUCHERS D'ARDENNE?
- The company number of LMBA - LES MAITRES BOUCHERS D'ARDENNE is 0480.035.578. The VAT number is the same number with BE in front: BE 0480.035.578.
- Where is LMBA - LES MAITRES BOUCHERS D'ARDENNE based?
- The registered office is at Place du 18 décembre 1944 1, 4970 Stavelot.Company details
- What does LMBA - LES MAITRES BOUCHERS D'ARDENNE do?
- According to the KBO register, the main activity is retail sale of meat and meat products, excluding game and poultry (NACE 47221).
- What is the legal form of LMBA - LES MAITRES BOUCHERS D'ARDENNE?
- LMBA - LES MAITRES BOUCHERS D'ARDENNE is a private limited company (BV).
- When was LMBA - LES MAITRES BOUCHERS D'ARDENNE founded?
- LMBA - LES MAITRES BOUCHERS D'ARDENNE was founded on 07-04-2003.
- Is LMBA - LES MAITRES BOUCHERS D'ARDENNE still active?
- Yes, LMBA - LES MAITRES BOUCHERS D'ARDENNE is an active enterprise in the KBO register.
- How many employees does LMBA - LES MAITRES BOUCHERS D'ARDENNE have?
- LMBA - LES MAITRES BOUCHERS D'ARDENNE had an average of 58.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does LMBA - LES MAITRES BOUCHERS D'ARDENNE fall under?
- In its 31-03-2025 annual accounts, LMBA - LES MAITRES BOUCHERS D'ARDENNE states joint committees 119 (Food trade) and 201 (Independent retail).
- What is the turnover of LMBA - LES MAITRES BOUCHERS D'ARDENNE?
- The turnover in financial year 2025 is ≈ €8.0m. This figure is estimated from the gross margin of €2.1m and 87 comparable companies (NACE 47). It probably lies between €4.8m and €15.0m. In financial year 2021 turnover was €6.9m.
- Is LMBA - LES MAITRES BOUCHERS D'ARDENNE profitable?
- In financial year 2025, LMBA - LES MAITRES BOUCHERS D'ARDENNE made a profit of €60,679.
- Where can I find the annual accounts of LMBA - LES MAITRES BOUCHERS D'ARDENNE?
- LMBA - LES MAITRES BOUCHERS D'ARDENNE filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
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