LNV
ActiveSummary
LNV has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €243,515 and a net result of €181,606. Equity has been growing by about 95% per year since 2021. Its solvency ranks better than 36% of 12,777 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-06-2020 Normal situation
- Activity
- Non-specialised retail sale with food, beverages or tobacco predominating NACE 47110and 2 others
- Establishment unit
- 2.303.500.768 9500 Geraardsbergen, since 09-06-2020
- Financial year end
- 30 September
- Peppol
- Reachable since 19-12-2025
Board and ownership
Board
- Van Oudenhove EvyDirector · since 09-06-2020
- Vanden Dooren PieterDirector · since 09-06-2020
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts to 30-09-2025
- Gross margin
- €608,821
- ▼ 10.1%
- Turnover
- ≈ €5.8m
- estimated
- Profit
- €181,606
- ▼ 20.8%
- Equity
- €243,515
- ▲ 293%
- Total assets
- €1.0m
- ▼ 4.1%
- Employees on 30-09-2025
- 9
- ▲ 12.5%
Score breakdownraises riskFounded in 2020Size: 8.3 FTE, total assets €1.0mlowers riskLiquidity: current ratio 1.26, cash €448,940Figures for financial year 2025 (filed on 14-01-2026)Show the evidence
Checked score
Score 2025
85
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 75% of micro companies in retail trade (NACE 47)
Financial strength · tick: 2024
Strong
Solvency
49+18
equity 24.0% of total assets
Liquidity
70+8
short-term debt 58.5% · cash 44.3%
Profitability
91-5
return on assets 17.9%
Bankruptcy probability within 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.2%▲ +0.1 percentage points vs 12-2024
02-2025: 1.2%● unchanged vs 01-2025
03-2025: 1.3%▲ +0.1 percentage points vs 02-2025highest value
04-2025: 1.0%▼ -0.3 percentage points vs 03-2025
05-2025: 1.0%● unchanged vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.0%● unchanged vs 06-2025
08-2025: 1.0%● unchanged vs 07-2025
09-2025: 1.0%● unchanged vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 1.0%● unchanged vs 11-2025
01-2026: 1.0%● unchanged vs 12-2025
02-2026: 0.5%▼ -0.5 percentage points vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.1 percentage points vs 07-2026
09-2026: 0.5%▼ -0.1 percentage points vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026lowest value
11-2026: 0.5%● unchanged vs 10-2026lowest value
Credit of up to €20,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.26 (0.93 in 2024), below the usual 1.5. Short-term debt is 58.5% and cash 44.3% of total assets. 76% of the assets are financed with debt and provisions.
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, micro). It does better than 40% of them on solvency, 76% on liquidity, 86% on profitability and 97% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
Credit check for an amount and term of your choice
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.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 14-01-2026, 106 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
106 days early
2024
40 days early
2023
54 days early
2022
35 days early
2021
33 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 54 days before 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 (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 21 March (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end04-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 14-01-2026 PDF all 5 filings
Turnover
≈ €5.8m
Estimated: probably between €4.7m and €7.8m
Total assets
€1.0m▼ 4.1%
2024 · €1.1m
Net result
€181,606▼ 20.8%
2024 · €229,407
Working capital
€156,780
2024 · -€49,015
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€254,895
▼ 15.6%
2025
20212025
Net result
€181,606
▼ 20.8%
2025
highest quarter of the sector
20212025
Equity
€243,515
▲ 293%
2025
middle half of the sector
20212025
Total assets
€1.0m
▼ 4.1%
2025
middle half of the sector
20212025
Debt
€769,859
▼ 22.6%
2025
20212025
Working capital
€156,780
2025
middle half of the sector
20212025
Solvency
24.0%
▲ 18.2pp
2025
middle half of the sector
20212025
Current ratio
1.26
▲ 0.33
2025
middle half of the sector
20212025
Return on assets (ROA)
17.9%
▼ 3.8pp
2025
highest quarter of the sector
20212025
Staff (FTE)
8.3
▼ 6.7%
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.06m-€0.08m€0.2m▲ 123%€0.3m▲ 74.0%€0.3m▼ 15.6%
Net result-€0.1mbelow the sector's middle half-€0.06mwithin the sector's middle half€0.2mabove the sector's middle half▲ 158%€0.2mabove the sector's middle half▲ 48.2%€0.2mabove the sector's middle half▼ 20.8%
Equity-€0.05mbelow the sector's middle half-€0.01mbelow the sector's middle half€0.07mbelow the sector's middle half▲ 421%€0.06mbelow the sector's middle half▼ 8.7%€0.2mwithin the sector's middle half▲ 293%
Total assets€0.9mwithin the sector's middle half-€0.8mwithin the sector's middle half▼ 2.6%€1.0mwithin the sector's middle half▲ 15.0%€1.1mwithin the sector's middle half▲ 9.7%€1.0mwithin the sector's middle half▼ 4.1%
Debt€0.9m-€0.8m▼ 9.1%€0.9m▲ 8.6%€1.0m▲ 11.0%€0.8m▼ 22.6%
Working capital-€0.09mbelow the sector's middle half--€0.04mbelow the sector's middle half▲ 59.7%-€0.04mbelow the sector's middle half▲ 3.8%-€0.05mbelow the sector's middle half▼ 39.6%€0.2mwithin the sector's middle half
Solvency-5.5%below the sector's middle half-1.6%below the sector's middle half▲ 7.0pp7.0%below the sector's middle half▲ 5.5pp5.9%below the sector's middle half▼ 1.2pp24.0%within the sector's middle half▲ 18.2pp
Current ratio0.78below the sector's middle half-0.91below the sector's middle half▲ 0.140.94below the sector's middle half▲ 0.030.93below the sector's middle half=1.26within the sector's middle half▲ 0.33
Return on assets (ROA)-11.3%below the sector's middle half-7.2%within the sector's middle half▲ 18.4pp16.1%above the sector's middle half▲ 8.9pp21.7%above the sector's middle half▲ 5.6pp17.9%above the sector's middle half▼ 3.8pp
Staff (FTE)6.8within the sector's middle half-7.4within the sector's middle half▲ 8.8%8above the sector's middle half▲ 8.1%8.9above the sector's middle half▲ 11.3%8.3above the sector's middle half▼ 6.7%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2025 is 16% lower than in 2024.
Turnover and EBIT margin are 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 €1.0m
Fixed assets
€263,496 ▼ 25.9%
Current assets
€749,878 ▲ 7.0%
Equity and liabilities €1.0m
Equity
€243,515 ▲ 293%
Debt
€769,859 ▼ 22.6%
Debt's share of the balance-sheet total falls from 94.1% to 76.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€362,138▼
2024 · €403,628
Cash flow
€288,848▼
2024 · €331,148
Quick ratio
0.86▲
2024 · 0.60
Debt to equity
3.16▼
2024 · 16.07
ROE
74.6%▼
2024 · 370.5%
Interest coverage
17.83▼
2024 · 20.84
Debt ≤ 1 year
€593,098▼
2024 · €749,991
Debt > 1 year
€176,761▼
2024 · €244,622
Income taxes
€55,088▼
2024 · €56,773
Staff costs
€244,562▼
2024 · €271,554
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 8 | 8 | 9 |
| full-time | 7 | 8 | 8 | 8 |
| part-time | - | - | - | 1 |
| in full-time equivalents | 7 | 8 | 8 | 8.3 |
| Average over the year, in full-time equivalents | 7.4 | 8 | 8.9 | 8.3 |
| On a permanent contract | 7 | 7 | 8 | 9 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €447,813 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €7,087 | €58,596 | €39,775 | €15,192 |
| Financial fixed assets | - | €200 | - | - |
| Depreciation and write-downs of the year | €94,157 | €98,956 | €101,741 | €107,243 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €160,776 | €211,005 | €271,554 | €244,562 | ▼ 9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €91,863 | €94,157 | €98,956 | €101,741 | €107,243 | ▲ 5.4% |
| Other operating charges640/8 | - | €870 | €1,410 | €2,134 | €2,122 | ▼ 0.6% |
| Gross operating margin9900 | €150,109 | €333,663 | €484,916 | €677,316 | €608,821 | ▼ 10.1% |
| Operating profit (loss)9901 | -€63,931 | €77,860 | €173,545 | €301,887 | €254,895 | ▼ 15.6% |
| Financial income75/76B | - | €448 | €932 | €3,665 | €2,112 | ▼ 42.4% |
| Recurring financial income75 | €903 | €448 | €932 | €3,665 | €2,112 | ▼ 42.4% |
| Financial charges65/66B | - | €18,349 | €19,483 | €19,372 | €20,314 | ▲ 4.9% |
| Recurring financial charges65 | €33,927 | €18,349 | €19,483 | €19,372 | €20,314 | ▲ 4.9% |
| Profit (loss) for the period before taxes9903 | -€96,955 | €59,959 | €154,994 | €286,179 | €236,694 | ▼ 17.3% |
| Income taxes67/77 | - | - | €201 | €56,773 | €55,088 | ▼ 3.0% |
| Profit (loss) for the period9904 | -€96,955 | €59,959 | €154,792 | €229,407 | €181,606 | ▼ 20.8% |
| Profit (loss) for the period to be appropriated9905 | -€96,955 | €59,959 | €154,792 | €229,407 | €181,606 | ▼ 20.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.9m | €0.8m | €1.0m | €1.1m | €1.0m | ▼ 4.1% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 25.9% |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 25.9% |
| Plant, machinery and equipment23 | - | €0.5m | €0.4m | €0.3m | €0.3m | ▼ 26.0% |
| Furniture and vehicles24 | - | €0.004m | €181 | €0.01m | €0.01m | ▼ 22.8% |
| Financial fixed assets28 | - | - | €200 | - | - | - |
| Current assets29/58 | €0.3m | €0.4m | €0.5m | €0.7m | €0.7m | ▲ 7.0% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 3.9% |
| Stocks30/36 | - | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 3.9% |
| Amounts receivable within one year40/41 | €0.01m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 81.7% |
| Trade receivables40 | - | - | €0.001m | €0.001m | €0.006m | ▲ 343% |
| Other amounts receivable41 | - | €0.01m | €0.01m | €0.02m | €0.03m | ▲ 58.0% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.3m | €0.4m | €0.4m | ▲ 6.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.03m | ▲ 139% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.9m | €0.8m | €1.0m | €1.1m | €1.0m | ▼ 4.1% |
| Equity10/15 | -€0.05m | €0.01m | €0.07m | €0.06m | €0.2m | ▲ 293% |
| Contributions10/11 | - | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | - | - | €0.02m | €0.01m | €0.2m | ▲ 16× |
| Distributable reserves133 | - | - | €0.02m | €0.01m | €0.2m | ▲ 16× |
| Profit (loss) carried forward14 | -€0.1m | -€0.04m | - | - | - | - |
| Amounts payable17/49 | €0.9m | €0.8m | €0.9m | €1.0m | €0.8m | ▼ 22.6% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 27.7% |
| Financial debts170/4 | - | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 27.7% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.6m | €0.7m | €0.6m | ▼ 20.9% |
| Current portion of amounts payable after more than one year42 | - | €0.09m | €0.09m | €0.1m | €0.1m | ▲ 1.3% |
| Trade debts44 | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 23.0% |
| Suppliers440/4 | - | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 23.0% |
| Advances received on contracts in progress46 | - | - | €0.001m | - | - | - |
| Taxes, remuneration and social security45 | - | €0.02m | €0.1m | €0.3m | €0.04m | ▼ 87.1% |
| Taxes450/3 | - | €17 | €0.02m | €0.04m | €0.001m | ▼ 96.4% |
| Remuneration and social security454/9 | - | €0.02m | €0.1m | €0.2m | €0.03m | ▼ 85.6% |
| Other amounts payable47/48 | - | €0.03m | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€96,955 | €59,959 | €154,792 | €229,407 | €181,606 | ▼ 20.8% |
| + Depreciation and write-downs630 | €91,863 | €94,157 | €98,956 | €101,741 | €107,243 | ▲ 5.4% |
| Operating cash flow (approximation) | -€5,092 | €154,117 | €253,749 | €331,148 | €288,848 | ▼ 12.8% |
| Investment in fixed assets (approximation) | - | -€7,087 | -€58,796 | -€39,575 | -€15,192 | ▲ 61.6% |
| Change in cash | - | -€7,462 | €149,496 | €138,820 | €28,048 | ▼ 79.8% |
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, 6,713 companies had the same profile as LNV has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LNV itself: 0.5% within 12 months.
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 6,713 companies, not a prediction for LNV. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 14-01-2026 | 2026-00007404 | |
| 30-09-2024 | abbreviated format | 21-03-2025 | 2025-00052161 | |
| 30-09-2023 | abbreviated format | 07-03-2024 | 2024-00040353 | |
| 30-09-2022 | abbreviated format | 26-03-2023 | 2023-00045246 | |
| 30-09-2021 | abbreviated format | 28-03-2022 | 2022-08700026 |
Board & ownership
Directors
Directors
2 directors
Van Oudenhove Evy
Current
Vanden Dooren Pieter
Current
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| Van Oudenhove Evy |
|
| Vanden Dooren Pieter |
|
Network & group
LNV shares no director with another company.
Companies at the same address
2 other companiesConnections & network
2 current directorsThe network starts from the directors of LNV. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
14-01
abbreviated format · 106 days before the deadline
2025
30-09
Financial
Equity above €200,000equity €243,515 ▲293%
After 4 profitable years in a row, equity reaches €243,515.
21-03
abbreviated format · 40 days before the deadline
2024
30-09
Financial
Highest result from 2021 to 2025net €229,407 ▲48.2%
The operating result of €301,887 and the net result of €229,407 are both a record.
07-03
abbreviated format · 54 days before the deadline
2023
26-03
abbreviated format · 35 days before the deadline
2022
30-09
Financial
Back to profitnet €59,959
The net result is €59,959, after one loss-making year.
28-03
abbreviated format · 33 days before the deadline
2020
11-06
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
LNV in Dutch
Enterprise number
0748.397.461
Legal form
Private limited company
Status
Active, normale toestand
Founded
09-06-2020
Entity type
Legal entity
Registered office and establishments
Registered office
Oudenaardsestraat 22, 9500 Geraardsbergen, Belgium
Establishment unit
LNV, Oudenaardsestraat 22, 9500 Geraardsbergen since 09-06-2020 · unit number 2.303.500.768
Activities
NACEBEL 2025VAT activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
47252
Retail sale of beverages, general range
47260
Retail trade
Social security (RSZ) activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
Codes under NACEBEL 2008
VAT activities
47114
Supermarkets main activity
47252
Retail trade
47260
Retail trade
Social security (RSZ) activities
47114
Supermarkets main activity
Invoicing and payment
VAT number
BE 0748.397.461
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Recognitions · licences · registrations
Food safety, FASFC
1 siteGeraardsbergenunit number 2.303.500.768
Sites & property
Location
Buildings and parcels at the address
Ground area
2,803 m²
Building footprint
2,632 m²
Building volume
11,422 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41018A0618/00W000 | Flanders | 2,803 m² | 1 · 2,632 m² | 12.2 m · 1 |