Checked.be
Active
BE 0462.070.287Private limited company
LMS-SYSTEMS
St. Martinusstraat (P.) 14 ·9790 Wortegem-Petegem, Belgium· 28 yrs active
Sector: Business and other management consultancy
(70200)
Conclusion
LMS-SYSTEMS has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.75M and a net result of €724k. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 81% of 8442 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €5.75M |
| Net result | €724k |
| Better than sector | 81% |
| Active | 28 yrs |
Financial profile
83
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
63
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1997, 28 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€600k
estimate, not credit advice
Score history
75
2021
93
2022
100
2023
93
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 9.34 (≥ 1.5)
+10
Quick ratio
Quick ratio 9.34 (≥ 1.0)
+5
Leverage
Debt/equity 0.17 (< 1.0)
+10
Profitability
ROE 13% (≥ 10%)
+10
Interest coverage
Interest coverage 42.0× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 20-10-2025 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~8.7%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 85.2% | 53.1% | |
| Net result | €724k | €38k | |
| Equity | €5.75M | €353k | |
| Gross operating margin | €1.05M | €87k | |
| Total assets | €6.75M | €919k |
€1.03M
+28.6%
21-25
€724k
+32.1%
21-25
€777k
+29.2%
21-25
€6.75M
+7.3%
21-25
€5.75M
+14.4%
21-25
€4.59M
+19.7%
21-25
€269k
+35.8%
21-25
€417k
+101.6%
21-25
€1.00M
-20.8%
21-25
€550k
-30.6%
21-25
€448k
-4.5%
21-25
9.34
+60.0%
21-25
9.34
+60.0%
21-25
85.2%
+6.6%
21-25
0.17
-30.8%
21-25
12.6%
+15.4%
21-25
10.7%
+23.1%
21-25
42.01
-7.5%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €1.03M | €798k | €889k | €662k | €983k |
| Net profit | €724k | €548k | €628k | €457k | €746k |
| Cash flow | €777k | €602k | €679k | €516k | €813k |
| Staff costs | - | - | - | - | - |
| Income taxes | €269k | €198k | €220k | €156k | €174k |
| Dividends | - | €417k | €207k | - | - |
| Total assets | €6.75M | €6.29M | €5.57M | €4.89M | €4.84M |
| Equity | €5.75M | €5.03M | €4.90M | €4.48M | €4.02M |
| Debt | €1.00M | €1.26M | €670k | €406k | €813k |
| of which ≤ 1y | €550k | €792k | €670k | €404k | €813k |
| of which > 1y | €448k | €469k | - | - | - |
| Working capital | €4.59M | €3.83M | €3.19M | €2.76M | €2.25M |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 9.34 | 5.84 | 5.76 | 7.84 | 3.77 |
| Quick ratio | 9.34 | 5.84 | 5.76 | 7.84 | 3.77 |
| Working capital ratio | 67.9% | 60.9% | 57.2% | 56.6% | 46.5% |
| Solvency | 85.2% | 79.9% | 87.9% | 91.6% | 83.1% |
| Debt / equity | 0.17 | 0.25 | 0.14 | 0.09 | - |
| Long-term debt ratio | 0.08 | 0.09 | - | - | - |
| Interest coverage | 42.01 | 45.40 | 78.67 | 71.90 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 10.7% | 8.7% | 11.3% | 9.4% | 15.4% |
| ROE | 12.6% | 10.9% | 12.8% | 10.2% | 18.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €6.75M | €6.29M | €5.57M | €4.89M | €4.84M |
| Fixed assets | 21/28 | €1.62M | €1.67M | €1.71M | €1.72M | €1.78M |
| Tangible fixed assets | 22/27 | €957k | €1.01M | €1.06M | €1.06M | €1.12M |
| Financial fixed assets | 28 | €659k | €658k | €658k | €658k | €658k |
| Current assets | 29/58 | €5.14M | €4.63M | €3.86M | €3.17M | €3.06M |
| Amounts receivable within one year | 40/41 | €1.42M | €1.45M | €1.84M | €1.37M | €1.62M |
| Investments | 50/53 | €1.89M | €1.07M | €267k | €42k | €42k |
| Cash & bank | 54/58 | €1.83M | €2.10M | €1.74M | €1.74M | €1.40M |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €6.75M | €6.29M | €5.57M | €4.89M | €4.84M |
| Equity | 10/15 | €5.75M | €5.03M | €4.90M | €4.48M | €4.02M |
| Contributions / capital | 10/11 | €488k | €488k | €488k | €488k | - |
| Reserves | 13 | €5.26M | €4.54M | €4.41M | €3.99M | €3.53M |
| Provisions & deferred taxes | 16 | €1k | €2k | €3k | €4k | €5k |
| Amounts payable | 17/49 | €1.00M | €1.26M | €670k | €406k | €813k |
| Amounts payable after one year | 17 | €448k | €469k | - | - | - |
| Amounts payable within one year | 42/48 | €550k | €792k | €670k | €404k | €813k |
| Trade debts payable within one year | 44 | €28k | €44k | €54k | €24k | €25k |
| Income statement | ||||||
| Gross operating margin | 9900 | €1.05M | €1.03M | €902k | €675k | €989k |
| Operating result | 9901 | €973k | €744k | €839k | €603k | €916k |
| Financial income | 75 | €43k | €18k | €20k | €18k | €15k |
| Financial charges | 65 | €24k | €18k | €11k | €9k | €15k |
| Result before taxes | 9903 | €991k | €745k | €847k | €612k | €917k |
| Income taxes | 67/77 | €269k | €198k | €220k | €156k | €174k |
| Net result for the period | 9904 | €724k | €548k | €628k | €457k | €744k |
| Result to be appropriated | 9905 | €726k | €550k | €630k | €459k | €746k |
Legal Structure
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Private limited company(610) |
| Incorporation | 10-12-1997 |
| Status | Active |
| Postal code | 9790 |
Establishment units
LMS-SYSTEMS
since 20132.232.143.808
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45039B0147/00K002 | Flanders | 1,530 m² | 1 · 178 m² | 12.9 m · 3 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2025
20-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Equity above €5MEq €5.03M ▲2.7%
4 profitable years in a row build equity to €5.03M.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Weakest financial yearnet €457k ▼38.8%
Net result drops to €457k, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity doublescurrent ratio 7.84
Current ratio from 3.77 to 7.84; short-term debt falls from €813k to €404k.
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
10-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
13-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameNL | LMS-SYSTEMS |
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