LPFOX
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 19 filings
Turnover
≈ €68,000
Estimated: probably between €27,000 and €160,000
EBIT margin
Not included in this filing
Net result
-€10,288
2024 · €5,215
Working capital
-€104,023▼ 20.1%
2024 · -€86,622
In the rankings
#10 oldest company in Eghezée, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€5,925
2025
20182025
Net result
-€10,288
2025
lowest quarter of the sector
20182025
Equity
€67,512
▼ 13.2%
2025
middle half of the sector
20182025
Total assets
€226,358
▼ 11.3%
2025
middle half of the sector
20182025
Debt
€158,846
▼ 10.4%
2025
20182025
Working capital
-€104,023
▼ 20.1%
2025
lowest quarter of the sector
20182025
Solvency
29.8%
▼ 0.7pp
2025
middle half of the sector
20182025
Current ratio
0.01
▼ 0.16
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-4.5%
▼ 6.6pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€14,047-€5,300▼ 62.3%€10,900▲ 106%€3,142▼ 71.2%€14,444▲ 360%€9,505▼ 34.2%€11,969▲ 25.9%-€5,925
Net result€3,248--€3,326€2,619within the sector's middle half-€4,525below the sector's middle half€7,034within the sector's middle half€4,386within the sector's middle half▼ 37.6%€5,215within the sector's middle half▲ 18.9%-€10,288below the sector's middle half
Equity€66,398-€63,072▼ 5.0%€65,691within the sector's middle half▲ 4.2%€61,165within the sector's middle half▼ 6.9%€68,199within the sector's middle half▲ 11.5%€72,585within the sector's middle half▲ 6.4%€77,800within the sector's middle half▲ 7.2%€67,512within the sector's middle half▼ 13.2%
Total assets€346,119-€322,294▼ 6.9%€320,806within the sector's middle half▼ 0.5%€311,501within the sector's middle half▼ 2.9%€294,550within the sector's middle half▼ 5.4%€263,894within the sector's middle half▼ 10.4%€255,123within the sector's middle half▼ 3.3%€226,358within the sector's middle half▼ 11.3%
Debt€279,721-€259,223▼ 7.3%€255,115▼ 1.6%€250,336▼ 1.9%€226,351▼ 9.6%€191,309▼ 15.5%€177,323▼ 7.3%€158,846▼ 10.4%
Working capital-€6,465--€22,967▼ 255%-€28,718below the sector's middle half▼ 25.0%-€64,142below the sector's middle half▼ 123%-€70,752below the sector's middle half▼ 10.3%-€86,275below the sector's middle half▼ 21.9%-€86,622below the sector's middle half▼ 0.4%-€104,023below the sector's middle half▼ 20.1%
Solvency19.2%-19.6%▲ 0.4pp20.5%within the sector's middle half▲ 0.9pp19.6%within the sector's middle half▼ 0.8pp23.2%within the sector's middle half▲ 3.5pp27.5%below the sector's middle half▲ 4.4pp30.5%below the sector's middle half▲ 3.0pp29.8%within the sector's middle half▼ 0.7pp
Current ratio0.91-0.69▼ 0.220.65below the sector's middle half▼ 0.040.36below the sector's middle half▼ 0.290.29below the sector's middle half▼ 0.070.13below the sector's middle half▼ 0.160.17below the sector's middle half▲ 0.040.01below the sector's middle half▼ 0.16
Return on assets (ROA)0.9%--1.0%▼ 2.0pp0.8%within the sector's middle half▲ 1.8pp-1.5%below the sector's middle half▼ 2.3pp2.4%within the sector's middle half▲ 3.8pp1.7%below the sector's middle half▼ 0.7pp2.0%below the sector's middle half▲ 0.4pp-4.5%below the sector's middle half▼ 6.6pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 a loss of €5,925, after a profit of €11,969 in 2024. It is the lowest result since 2018.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €226,358
Fixed assets
€225,253 ▼ 5.1%
Current assets
€1,106 ▼ 93.8%
Equity and liabilities €226,358
Equity
€67,512 ▼ 13.2%
Debt
€158,846 ▼ 10.4%
Debt's share of the balance-sheet total rises from 69.5% to 70.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€7,763▼
2024 · €25,893
Cash flow
€3,400▼
2024 · €19,139
Debt to equity
2.35▲
2024 · 2.28
ROE
-15.2%▼
2024 · 6.7%
Interest coverage
1.78▼
2024 · 4.88
Debt ≤ 1 year
€105,128▲
2024 · €104,447
Debt > 1 year
€52,592▼
2024 · €72,876
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €173,222 | €149,769 | - | - | - |
| Mortgages, amount registered | €360,000 | €360,000 | €360,000 | €360,000 | - |
| Carrying value of the mortgaged assets | €202,565 | €191,947 | €250,693 | €237,207 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,945 | €3,507 | - | - | €1,643 |
| Depreciation and write-downs of the year | €13,336 | €13,314 | €14,046 | €13,924 | €13,688 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,835 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,278 | €10,278 | €14,265 | €13,336 | €13,314 | €14,046 | €13,924 | €13,688 | ▼ 1.7% |
| Other operating charges640/8 | - | - | - | €1,575 | €1,669 | €2,076 | €5,831 | €2,006 | ▼ 65.6% |
| Non-recurring operating charges66A | - | - | - | €11,598 | - | - | - | - | - |
| Gross operating margin9900 | €26,035 | €17,228 | €26,812 | €29,651 | €29,427 | €25,628 | €31,724 | €9,769 | ▼ 69.2% |
| Operating profit (loss)9901 | €14,047 | €5,300 | €10,900 | €3,142 | €14,444 | €9,505 | €11,969 | -€5,925 | - |
| Financial income75/76B | - | - | - | - | €308 | €0 | - | - | - |
| Recurring financial income75 | - | - | - | - | €308 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €7,667 | €6,868 | €3,837 | €5,301 | €4,363 | ▼ 17.7% |
| Recurring financial charges65 | €9,288 | €8,611 | €8,281 | €7,667 | €6,868 | €3,837 | €5,301 | €4,363 | ▼ 17.7% |
| Profit (loss) for the period before taxes9903 | €4,759 | -€3,311 | €2,619 | -€4,525 | €7,884 | €5,668 | €6,668 | -€10,288 | - |
| Income taxes67/77 | €1,511 | €16 | - | - | €850 | €1,282 | €1,454 | - | - |
| Profit (loss) for the period9904 | €3,248 | -€3,326 | €2,619 | -€4,525 | €7,034 | €4,386 | €5,215 | -€10,288 | - |
| Profit (loss) for the period to be appropriated9905 | €3,248 | -€3,326 | €2,619 | -€4,525 | €7,034 | €4,386 | €5,215 | -€10,288 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €346,119 | €322,294 | €320,806 | €311,501 | €294,550 | €263,894 | €255,123 | €226,358 | ▼ 11.3% |
| Fixed assets21/28 | €281,266 | €270,988 | €267,631 | €275,076 | €265,268 | €251,221 | €237,297 | €225,253 | ▼ 5.1% |
| Tangible fixed assets22/27 | €281,266 | €270,988 | €267,631 | €275,076 | €265,268 | €251,221 | €237,297 | €225,253 | ▼ 5.1% |
| Land and buildings22 | - | - | - | €273,672 | €264,302 | €250,693 | €237,207 | €225,253 | ▼ 5.0% |
| Furniture and vehicles24 | - | - | - | €1,404 | €966 | €528 | €91 | - | - |
| Current assets29/58 | €64,853 | €51,307 | €53,174 | €36,425 | €29,282 | €12,672 | €17,826 | €1,106 | ▼ 93.8% |
| Amounts receivable within one year40/41 | €12,506 | €9,546 | €12,600 | €6,619 | €6,747 | €11,041 | €17,153 | €637 | ▼ 96.3% |
| Trade receivables40 | - | - | - | €6,619 | €6,697 | €10,814 | €16,912 | €637 | ▼ 96.2% |
| Other amounts receivable41 | - | - | - | - | €50 | €227 | €241 | - | - |
| Cash at bank and in hand54/58 | €6,024 | €3,932 | €6,826 | €3,643 | €3,159 | €1,631 | €547 | €469 | ▼ 14.3% |
| Deferred charges and accrued income490/1 | - | - | - | €26,163 | €19,376 | - | €125 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €346,119 | €322,294 | €320,806 | €311,501 | €294,550 | €263,894 | €255,123 | €226,358 | ▼ 11.3% |
| Equity10/15 | €66,398 | €63,072 | €65,691 | €61,165 | €68,199 | €72,585 | €77,800 | €67,512 | ▼ 13.2% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €4,898 | €4,898 | €4,898 | €4,898 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | - | - | - | €4,898 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | €4,898 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | - | -€3,326 | -€708 | -€5,233 | €549 | €4,935 | €10,150 | -€138 | - |
| Amounts payable17/49 | €279,721 | €259,223 | €255,115 | €250,336 | €226,351 | €191,309 | €177,323 | €158,846 | ▼ 10.4% |
| Amounts payable after more than one year17 | €208,402 | €184,949 | €173,222 | €149,769 | €126,317 | €92,187 | €72,876 | €52,592 | ▼ 27.8% |
| Financial debts170/4 | - | - | - | €149,769 | €126,317 | €92,187 | €72,876 | €52,592 | ▼ 27.8% |
| Amounts payable within one year42/48 | €71,319 | €74,274 | €81,893 | €100,567 | €100,034 | €98,947 | €104,447 | €105,128 | ▲ 0.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €23,453 | €23,453 | €18,385 | €19,311 | €20,284 | ▲ 5.0% |
| Trade debts44 | €2,660 | €1,126 | €6,622 | €2,569 | €3,185 | €3,546 | €4,098 | €777 | ▼ 81.1% |
| Suppliers440/4 | - | - | - | €2,569 | €3,185 | €3,546 | €4,098 | €777 | ▼ 81.1% |
| Taxes, remuneration and social security45 | - | - | - | €333 | €2,640 | €4,218 | €3,517 | €1,596 | ▼ 54.6% |
| Taxes450/3 | - | - | - | €333 | €2,640 | €4,218 | €3,517 | €1,596 | ▼ 54.6% |
| Other amounts payable47/48 | - | - | - | €74,212 | €70,756 | €72,798 | €77,521 | €82,471 | ▲ 6.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €175 | - | €1,126 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,248 | -€3,326 | €2,619 | -€4,525 | €7,034 | €4,386 | €5,215 | -€10,288 | - |
| + Depreciation and write-downs630 | €10,278 | €10,278 | €14,265 | €13,336 | €13,314 | €14,046 | €13,924 | €13,688 | ▼ 1.7% |
| Operating cash flow (approximation) | €13,526 | €6,951 | €16,884 | €8,811 | €20,348 | €18,433 | €19,139 | €3,400 | ▼ 82.2% |
| Investment in fixed assets (approximation) | - | €0 | -€10,909 | -€20,781 | -€3,506 | €0 | €0 | -€1,643 | - |
| Change in cash | - | -€2,092 | €2,894 | -€3,183 | -€484 | -€1,528 | -€1,084 | -€78 | ▲ 92.8% |
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, 2,450 companies had the same profile as LPFOX has now. Two years later, 93.2% were still going and 1.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
93.2%
was still going
5.1%
stopped otherwise
1.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LPFOX itself: 0.3% 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 2,450 companies, not a prediction for LPFOX. 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.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00364360 | |
| 31-12-2024 | micro format | 19-08-2025 | 2025-00382519 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00404455 | |
| 31-12-2022 | full format | 29-08-2023 | 2023-00434078 | |
| 31-12-2021 | full format | 18-08-2022 | 2022-20301394 | |
| 31-12-2020 | full format | 30-09-2021 | 2021-69600126 | |
| 31-12-2019 | full format | 30-09-2020 | 2020-57500501 | |
| 31-12-2018 | full format | 15-08-2019 | 2019-47500446 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-57700565 | |
| 31-12-2016 | full format | 07-11-2017 | 2017-69300589 |