From the official registers: KBO 15 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
LNF has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.4m and a net result of €9,642. Equity remains stable across the filed financial years (±1.5% per year). Its solvency ranks better than 68% of 10,789 sector peers (NACE 70, financial year 2025). The company has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 30-01-2026
- Format
- abbreviated format
- Reference
- 2026-00025564
Turnover
≈ €130,000
Estimated: probably between €93,000 and €200,000
Total assets
€1.9m▼ 0.9%
2024 · €1.9m
Net result
€9,642▼ 61.1%
2024 · €24,757
Working capital
-€345,242▲ 9.7%
2024 · -€382,252
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen two years in a row; 2025 is 45% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.02m
2025
Net result€0.01m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.9m
2025
Equity€1.4m
2025
Debt€0.5m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.3m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency71.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.26
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.02m-€0.03m▲ 38.9%€0.02m▼ 30.4%€0.03m▲ 59.2%€0.05m▲ 46.8%€0.04m▼ 11.9%€0.02m▼ 45.4%
Net result€0.01m-€0.02mwithin the sector's middle half▲ 43.5%€0.01mwithin the sector's middle half▼ 33.8%€0.02mwithin the sector's middle half▲ 63.2%€0.03mwithin the sector's middle half▲ 56.3%€0.02mwithin the sector's middle half▼ 17.9%€0.01mwithin the sector's middle half▼ 61.1%
Equity€1.2m-€1.3mabove the sector's middle half▲ 1.4%€1.3mwithin the sector's middle half▲ 0.9%€1.3mwithin the sector's middle half▲ 1.5%€1.3mwithin the sector's middle half▲ 2.3%€1.3mwithin the sector's middle half▲ 1.9%€1.4mabove the sector's middle half▲ 0.7%
Total assets€1.9m-€1.9mwithin the sector's middle half▼ 0.2%€1.9mwithin the sector's middle half▲ 0.6%€1.9mwithin the sector's middle half▼ 0.2%€1.9mwithin the sector's middle half▲ 0.3%€1.9mwithin the sector's middle half▲ 0.1%€1.9mwithin the sector's middle half▼ 0.9%
Debt€0.6m-€0.6m▼ 3.6%€0.6m▼ 0.1%€0.5m▼ 4.2%€0.5m▼ 4.6%€0.5m▼ 4.3%€0.5m▼ 5.4%
Working capital-€0.5m--€0.5mbelow the sector's middle half▲ 0.7%-€0.5mbelow the sector's middle half▼ 3.0%-€0.5mbelow the sector's middle half▲ 2.6%-€0.4mbelow the sector's middle half▲ 9.5%-€0.4mbelow the sector's middle half▲ 12.8%-€0.3mbelow the sector's middle half▲ 9.7%
Solvency65.3%-66.3%within the sector's middle half▲ 1.0pp66.6%within the sector's middle half▲ 0.2pp67.7%within the sector's middle half▲ 1.2pp69.1%within the sector's middle half▲ 1.4pp70.3%within the sector's middle half▲ 1.2pp71.4%within the sector's middle half▲ 1.1pp
Current ratio0.04-0.03below the sector's middle half▼ 0.010.03below the sector's middle half=0.04below the sector's middle half=0.11below the sector's middle half▲ 0.070.21below the sector's middle half▲ 0.100.26below the sector's middle half▲ 0.05
Return on assets (ROA)0.7%-0.9%within the sector's middle half▲ 0.3pp0.6%within the sector's middle half▼ 0.3pp1.0%within the sector's middle half▲ 0.4pp1.6%within the sector's middle half▲ 0.6pp1.3%within the sector's middle half▼ 0.3pp0.5%within the sector's middle half▼ 0.8pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.8m ▼ 2.1%
Current assets
€120,881 ▲ 21.1%
Equity and liabilities €1.9m
Equity
€1.4m ▲ 0.7%
Provisions
€77,908 =
Debt
€466,146 ▼ 5.4%
Debt's share of the balance-sheet total falls from 25.7% to 24.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
0.7%▼
2024 · 1.8%
Debt ≤ 1 year
€466,123▼
2024 · €482,078
Debt > 1 year
€0▼
2024 · €10,834
Income taxes
€3,004▼
2024 · €7,013
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €11,819 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,055 | €32,852 | €34,150 | €37,516 | €39,604 | €38,178 | €38,178 | = |
| Other operating charges640/8 | - | - | - | €5,815 | €3,273 | €6,140 | €5,566 | ▼ 9.4% |
| Gross operating margin9900 | €63,527 | €69,107 | €62,587 | €74,723 | €88,950 | €84,909 | €65,915 | ▼ 22.4% |
| Operating profit (loss)9901 | €20,396 | €28,339 | €19,720 | €31,392 | €46,073 | €40,590 | €22,171 | ▼ 45.4% |
| Financial income75/76B | - | - | - | €3 | €0 | €0 | €54 | - |
| Recurring financial income75 | €4 | €0 | €0 | €3 | €0 | €0 | €54 | - |
| Financial charges65/66B | - | - | - | €7,381 | €7,580 | €8,821 | €9,579 | ▲ 8.6% |
| Recurring financial charges65 | €7,473 | €7,221 | €7,204 | €7,381 | €7,580 | €8,821 | €9,579 | ▲ 8.6% |
| Profit (loss) for the period before taxes9903 | €12,927 | €21,118 | €12,517 | €24,014 | €38,493 | €31,770 | €12,646 | ▼ 60.2% |
| Income taxes67/77 | €485 | €3,265 | €694 | €4,720 | €8,335 | €7,013 | €3,004 | ▼ 57.2% |
| Profit (loss) for the period9904 | €12,442 | €17,854 | €11,823 | €19,294 | €30,158 | €24,757 | €9,642 | ▼ 61.1% |
| Profit (loss) for the period to be appropriated9905 | €12,442 | €17,854 | €11,823 | €19,294 | €30,158 | €24,757 | €9,642 | ▼ 61.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | ▼ 0.9% |
| Fixed assets21/28 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | €1.8m | €1.8m | ▼ 2.1% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 6.8% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 6.7% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.008m | €0.002m | €0.001m | ▼ 35.4% |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Current assets29/58 | €0.02m | €0.02m | €0.02m | €0.02m | €0.05m | €0.1m | €0.1m | ▲ 21.1% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €0.01m | - |
| Contracts in progress37 | - | - | - | - | - | - | €0.01m | - |
| Amounts receivable within one year40/41 | - | €0.001m | €0 | €0.006m | €0.03m | €0.04m | €0.07m | ▲ 89.4% |
| Trade receivables40 | - | - | - | €0.006m | €0.03m | €0.03m | €0.06m | ▲ 84.0% |
| Other amounts receivable41 | - | - | - | - | - | €64 | €0.002m | ▲ 31× |
| Cash at bank and in hand54/58 | €0.02m | €0.01m | €0.01m | €0.01m | €0.02m | €0.06m | €0.04m | ▼ 35.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0.003m | €0.003m | ▲ 2.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | ▼ 0.9% |
| Equity10/15 | €1.2m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.4m | ▲ 0.7% |
| Contributions10/11 | €0.5m | €0 | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.08m | €0.08m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.08m | €0.08m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.05m | €0.05m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 1.7% |
| Provisions and deferred taxes16 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Pensions and similar obligations160 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Amounts payable17/49 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.4% |
| Amounts payable after more than one year17 | €0.08m | €0.06m | €0.05m | €0.04m | €0.02m | €0.01m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €0.04m | €0.02m | €0.01m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 3.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 16.7% |
| Trade debts44 | €0.002m | €0.005m | €0.006m | €0.001m | €0.001m | €0.004m | €0.03m | ▲ 563% |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €0.004m | €0.03m | ▲ 563% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.01m | €0.009m | €0.006m | ▼ 36.6% |
| Taxes450/3 | - | - | - | €0.008m | €0.01m | €0.009m | €0.006m | ▼ 36.6% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 7.1% |
| Accrued charges and deferred income492/3 | - | - | - | €180 | €0 | - | €24 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,442 | €17,854 | €11,823 | €19,294 | €30,158 | €24,757 | €9,642 | ▼ 61.1% |
| + Depreciation and write-downs630 | €32,055 | €32,852 | €34,150 | €37,516 | €39,604 | €38,178 | €38,178 | = |
| Operating cash flow (approximation) | €44,497 | €50,706 | €45,973 | €56,810 | €69,762 | €62,935 | €47,820 | ▼ 24.0% |
| Investment in fixed assets (approximation) | - | -€34,837 | -€46,835 | -€31,216 | -€10,401 | €6,161 | €0 | ▼ 100% |
| Change in cash | - | -€6,623 | -€351 | -€3,726 | €8,118 | €44,278 | -€21,702 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00025564 | |
| 30-06-2024 | abbreviated format | 28-01-2025 | 2025-00011658 | |
| 30-06-2023 | abbreviated format | 30-01-2024 | 2024-00012214 | |
| 30-06-2022 | abbreviated format | 16-12-2022 | 2022-20543201 | |
| 30-06-2021 | abbreviated format | 27-01-2022 | 2022-02500022 | |
| 30-06-2020 | abbreviated format | 28-01-2021 | 2021-02600359 | |
| 30-06-2019 | abbreviated format | 12-12-2019 | 2019-76100122 | |
| 30-06-2018 | abbreviated format | 21-12-2018 | 2018-75700023 | |
| 30-06-2017 | abbreviated format | 31-01-2018 | 2018-04000512 | |
| 30-06-2016 | abbreviated format | 12-12-2016 | 2016-70000184 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.