LPGM
ActiveSummary
LPGM has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€955,051) and a net result of -€956,706. Equity has been shrinking by about 6555% per year since 2023. Its solvency ranks better than 5% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-06-2023 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.346.151.272 9850 Deinze, since 07-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 12-03-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.2%
- Gross margin
- -€73,549
- ▼ 2,471%
- Loss
- €956,706
- Equity
- -€955,051
- Total assets
- €94,489
- ▼ 89.9%
- Negative equity on 31-12-2025
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLoss of €956,706 (financial year 2025)Negative equity -€955,051lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €94,489Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 3% of them on solvency, 2% on liquidity, 4% on profitability and 0% on growth.
The bankruptcy probability was computed on 01-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 10 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00504625.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a loss of €88,746, larger than the loss of €8,652 in 2024. It is the lowest result since 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital and current ratio.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €30,743 | €10,249 |
| Financial fixed assets | - | €1 | - |
| Depreciation and write-downs of the year | - | €4,889 | €13,495 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €615 awarded · €615 paidComparable companies
These companies have the same main activity as LPGM: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €99,300 and €165,000, founded between 2022 and 2023.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| LPGM Deinze | 2023 | €94,489 | -€955,051 | -€73,549 | -€956,706 | 0 | 2025 |
| TERMINUS Koksijde | 2023 | €104,434 | -€14,360 | -€13,356 | -€15,071 | 0 | 2025 |
| Effectium Zedelgem | 2023 | €106,949 | €74,719 | -€5,574 | -€25,965 | 0.4 | 2025 |
| Green-Link Mechelen | 2022 | €99,343 | -€265,910 | -€103,952 | -€156,874 | 0.4 | 2024 |
| GIROCO Nieuwerkerken (Limb.) | 2023 | €154,443 | €21,147 | -€5,912 | -€7,572 | 0 | 2025 |
| ENACHE Waterloo | 2022 | €153,685 | -€67,054 | -€28,950 | -€36,807 | 0 | 2025 |
| VITA Home Brasschaat | 2023 | €164,581 | -€68,657 | -€5,513 | -€5,773 | 0 | 2025 |
They were chosen from the 54,693 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 7,639 companies had the same profile as LPGM has now. Two years later, 8.8% had gone bankrupt and 84.9% were still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of LPGM itself is lower: 1.2% within 12 months. It rests on far more data about LPGM than the profile alone.
Test of the method
The method was tested on the 497,445 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 7,639 companies, not a prediction for LPGM. 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €4,889 | €13,495 | ▲ 176% |
| Other operating charges640/8 | - | €901 | €1,702 | ▲ 88.9% |
| Gross operating margin9900 | -€8,466 | -€2,861 | -€73,549 | ▼ 2,471% |
| Operating profit (loss)9901 | -€8,466 | -€8,652 | -€88,746 | ▼ 926% |
| Financial income75/76B | - | €19,660 | €630 | ▼ 96.8% |
| Recurring financial income75 | - | €19,660 | €630 | ▼ 96.8% |
| Financial charges65/66B | €264 | €110 | €868,491 | ▲ 7,869× |
| Recurring financial charges65 | €264 | €110 | €164 | ▲ 48.3% |
| Non-recurring financial charges66B | - | - | €868,328 | - |
| Profit (loss) for the period before taxes9903 | -€8,730 | €10,898 | -€956,608 | - |
| Income taxes67/77 | - | €2,013 | €98 | ▼ 95.1% |
| Profit (loss) for the period9904 | -€8,730 | €8,885 | -€956,706 | - |
| Profit (loss) for the period to be appropriated9905 | -€8,730 | €8,885 | -€956,706 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.004m | €0.9m | €0.09m | ▼ 89.9% |
| Fixed assets21/28 | - | €0.03m | €0.02m | ▼ 12.6% |
| Tangible fixed assets22/27 | - | €0.03m | €0.02m | ▼ 12.6% |
| Plant, machinery and equipment23 | - | €0.005m | €0.01m | ▲ 110% |
| Furniture and vehicles24 | - | €0.02m | €0.01m | ▼ 38.8% |
| Financial fixed assets28 | - | €1 | €0 | ▼ 100% |
| Current assets29/58 | €0.004m | €0.9m | €0.07m | ▼ 92.1% |
| Amounts receivable after more than one year29 | - | €0.8m | €0 | ▼ 100% |
| Trade receivables290 | - | €0.8m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.001m | €0.04m | €0.07m | ▲ 66.9% |
| Trade receivables40 | - | €0.03m | €0.02m | ▼ 37.9% |
| Other amounts receivable41 | €0.001m | €0.009m | €0.05m | ▲ 429% |
| Cash at bank and in hand54/58 | €0.002m | €0.003m | €0.002m | ▼ 52.2% |
| Deferred charges and accrued income490/1 | - | €0.05m | €0.002m | ▼ 95.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.004m | €0.9m | €0.09m | ▼ 89.9% |
| Equity10/15 | -€0.007m | €0.002m | -€1.0m | - |
| Contributions10/11 | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.009m | €155 | -€1.0m | - |
| Amounts payable17/49 | €0.01m | €0.9m | €1.0m | ▲ 12.1% |
| Amounts payable within one year42/48 | €0.01m | €0.9m | €1.0m | ▲ 11.5% |
| Trade debts44 | - | €0.009m | €0.002m | ▼ 80.6% |
| Suppliers440/4 | - | €0.009m | €0.002m | ▼ 80.6% |
| Taxes, remuneration and social security45 | - | €0.002m | €0.02m | ▲ 914% |
| Taxes450/3 | - | €0.002m | €0.02m | ▲ 914% |
| Other amounts payable47/48 | €0.01m | €0.9m | €1.0m | ▲ 10.4% |
| Accrued charges and deferred income492/3 | €239 | €0.003m | €0.008m | ▲ 220% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,730 | €8,885 | -€956,706 | - |
| + Depreciation and write-downs630 | - | €4,889 | €13,495 | ▲ 176% |
| Operating cash flow (approximation) | -€8,730 | €13,774 | -€943,211 | - |
| Investment in fixed assets (approximation) | - | - | -€10,248 | - |
| Change in cash | - | €968 | -€1,803 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Shareholders
- MAHY Louis 100 shares (100%) · €1,500
Capital transactions
- 09-06-2023 Incorporation · €1,500 · 100 shares
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 09-06-2023 (in Dutch)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- XROSSWINDsubsidiarySourceown accounts 2024Equity -€576,963 Loss of €612,002 in 2024 (loss of €289,146 in 2023)100%
Board mandates elsewhere
1 board mandateCompanies at the same address
1 other companyConnections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
09-06
Gazette deed
IncorporationStarting capital €1,500 · Appointment: MAHY Louis (director) · Founder9 points ▸
- Incorporation, “LPGM” (deed in Dutch)
- Founder, MAHY Louis
- Founding capital, €1,500
- Bank account, “Belfius Bank, BE18 0689 4891 6065” (deed in Dutch)
- Declaration, “volledige storting inbrengen” (deed in Dutch)
- Capital, €1,500
- Other provision, “boeking inbreng op beschikbare eigen vermogensrekening, beschikbare eigen vermogensrekening” (deed in Dutch)
- Registered office clause, “9850 Deinze,Winkelputstraat 7” (deed in Dutch)
- Director appointment, MAHY Louis (director (not named in the articles))
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
20 activities
- Exploitatie van en handel in onroerend goed
- Opslag van goederen allerhande
- Handel in eigen onroerend goed
- Verhuur en exploitatie van eigen of geleased onroerend goed
- Gespecialiseerde bouwwerkzaamheden
- Slopen en bouwrijp maken van terreinen
- Elektrische installatie,loodgieterswerk en overige bouwinstallatie
- Afwerking van gebouwen
- Overige gespecialiseerde bouwactiviteiten
- Bouw van gebouwen;ontwikkeling van bouwprojecten
- Ontwikkeling van bouwprojecten
- Burgerlijke en utiliteitsbouw
- Projectontwikkeling industrieel/residentieel
- Zelfstandige adviesverlening en bijstand aan derden in het kader van bouwpromotie in de meest ruime zin van het woord,in ondergeschikt verband of op zelfstandige basis
- Alle mogelijke advies- en/of dienstenfuncties(uitvoerend als superviserend)op vlak van marketing,business,finance,HR,enzoverder,met inbegrip van consultancy,opleiding,technische expertise en bijstand op voornoemde gebieden en tevens met inbegrip van het exploiteren van een studie-,organisatie- en raadgevend bureau op het gebied van juridische,financiële,handels,bedrijfseconomische of sociale aangelegenheden met inbegrip van alle handelingen die verband houden met voornoemde aangelegenheden
- Het tussenkomen in het dagelijks bestuur en het vertegenwoordigen van bedrijven door onder meer het uitoefenen van mandaten van bestuurder,directeur of vereffenaar
- Alle type van intra-groepsdiensten,in de meest ruime zin,ter ondersteuning van vennootschappen waarin zij een participatie aanhoudt
- De engineering,ontwikkeling,commercialisatie,vertegenwoordiging,dienstverlening met betrekking tot welkdanige roerende goederen,materieel,machines en outillage
- Coördinatie van aankoopverrichtingen
- De klein- en groothandel,ontwerpen en/of vervaardigen,aankoop en verkoop van roerende goederen(waaronder,doch niet beperkt tot,kledij,textiel,lifestyle-artikelen,sportkledij,sportartikelen,consumptiegoederen,…)
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44044A0110/00K000 | Flanders | 3,432 m² | 1 · 363 m² | 7.2 m · 1 |