LOTHIAN DEVELOPMENTS III
ActiveLOTHIAN DEVELOPMENTS III has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.12M and a net result of €-959k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 40% of 4502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
12
/ 100
Critical▼ -13 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency32▲+6
Growth43=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.12 against 0.46 in 2024), and 72% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28%
Return on assets
-8.6%
Age of the figures
8 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€959k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
7 d late
2024
on the day
2023
42 d early
2022
206 d late
2021
12 d early
2020
88 d late
2019
29 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.36M▲ 21.9%
2019 · €1.94M
2018: €1.98M
2019: €1.94M
2018 → 2020
EBIT margin
19.7%▼ 0.2pp
2019 · 19.9%
2018: 30.0%
2019: 19.9%
2018 → 2020
Net result
€-959k▼ 320%
2024 · €-228k
2018: €238k
2019: €124k
2020: €196k
2021: €133k
2022: €144k
2023: €303k
2024: €-228k
2018 → 2025
Working capital
€-6.77M▼ 4.1%
2024 · €-6.50M
2018: €1.92M
2019: €2.54M
2020: €2.28M
2021: €3.06M
2022: €-8.19M
2023: €-7.02M
2024: €-6.50M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.86M-€4.01M▲ 3.7%€4.31M▲ 7.6%€4.08M▼ 5.3%€3.12M▼ 23.5%
Operating result€392k-€400k▲ 2.0%€841k▲ 111%€388k▼ 53.8%€-549k
Net result€133k-€144k▲ 8.3%€303k▲ 110%€-228k€-959k▼ 320%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €549k after €388k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.13M
Fixed assets
€10.20M▼ 5.0%
Current assets
€931k▼ 83.2%
Equity and liabilities €11.13M
Equity
€3.12M▼ 23.5%
Debt
€8.01M▼ 34.3%
The debt ratio falls from 74.9% to 72.0%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€362k▼
2024 · €1.26M
Cash flow
€-48k▼
2024 · €647k
Solvency
28.0%▲
2024 · 25.1%
Current ratio
0.12▼
2024 · 0.46
Quick ratio
0.12▼
2024 · 0.46
Debt / equity
2.57▼
2024 · 2.99
ROE
-30.7%▼
2024 · -5.6%
ROA
-8.6%▼
2024 · -1.4%
Interest coverage
0.82▼
2024 · 1.82
Debt
€8.01M▼
2024 · €12.20M
Debt ≤ 1 year
€7.70M▼
2024 · €12.05M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€16.28M€11.13M▼
Fixed assets21/28€10.74M€10.20M▼
Tangible fixed assets22/27€10.74M€10.20M▼
Land and buildings22€9.37M€8.72M▼
Plant, machinery and equipment23€1.22M€1.48M▲
Assets under construction and advance payments27€148k€0▼
Current assets29/58€5.54M€931k▼
Amounts receivable after more than one year29€4.00M€8k▼
Other amounts receivable291€4.00M€8k▼
Amounts receivable within one year40/41€208k€2k▼
Trade receivables40€208k€2k▼
Cash at bank and in hand54/58€1.10M€682k▼
Deferred charges and accrued income490/1€234k€240k▲
Equity and liabilities
Total equity and liabilities10/49€16.28M€11.13M▼
Equity10/15€4.08M€3.12M▼
Contributions10/11€5.99M€5.99M=
Capital10€5.99M€5.99M=
Issued capital100€5.99M€5.99M=
Profit (loss) carried forward14€-1.91M€-2.87M▼
Amounts payable17/49€12.20M€8.01M▼
Amounts payable within one year42/48€12.05M€7.70M▼
Current portion of amounts payable after more than one year42€11.75M€6.60M▼
Trade debts44€95k€35k▼
Suppliers440/4€95k€35k▼
Advances received on contracts in progress46€194k€0▼
Taxes, remuneration and social security45€10k€178k▲
Taxes450/3€10k€178k▲
Other amounts payable47/48-€890k
Accrued charges and deferred income492/3€153k€310k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€875k€911k▲
Other operating charges640/8€604k€757k▲
Gross operating margin9900€1.87M€1.12M▼
Operating profit (loss)9901€388k€-549k▼
Financial income75/76B€79k€31k▼
Recurring financial income75€79k€31k▼
Financial charges65/66B€695k€441k▼
Recurring financial charges65€695k€441k▼
Profit (loss) for the period before taxes9903€-228k€-959k▼
Profit (loss) for the period9904€-228k€-959k▼
Profit (loss) for the period to be appropriated9905€-228k€-959k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.91M€-2.87M▼
Profit (loss) brought forward from the previous period14P€-1.68M€-1.91M▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 7 days late
2025
31-12
Financial
Weakest financial yearnet €-959k
Net result drops to €-959k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
22-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 206 days late
2023
31-12
Financial
Highest result since 2018net €303k ▲110%
Operating result €841k, net result €303k, both a record.
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 88 days late
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
16-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
21 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Terhulpsesteenweg 1201000 BrusselGround area
5,039 m²
Building footprint
1,939 m²
Volume, LiDAR
53,239 m³
Parcel 21822R0523/00K002, Brussels · tallest building 33.6 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
LOTHIAN DEVELOMENTS III
since 19982.087.777.718
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0523/00K002 | Brussels | 5,039 m² | 1 · 1,939 m² | 33.6 m · 10 fl. |
Linked by address, not proof of ownership
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.
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Of 7,288 companies in sector 68110 we hold annual accounts for 5,354. 2,225 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-06-1998
Fiscal year end31-12
Activities, NACEBEL
68110Buying and selling of own real estate
70120
68203Renting and operating of own or leased non-residential real estate, excluding land
70203
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.