LPP
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 19-06-2026 at the NBB all 34 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €390,000
Estimated: probably between €240,000 and €730,000
Total assets
€292,428▼ 1.3%
2024 · €296,328
Net result
€21,149
2024 · -€52,051
Working capital
€138,540▲ 53.8%
2024 · €90,072
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€22,726
2025
20202025
Net result
€21,149
2025
middle half of the sector
20202025
Equity
€190,896
▲ 12.5%
2025
middle half of the sector
20202025
Total assets
€292,428
▼ 1.3%
2025
lowest quarter of the sector
20202025
Debt
€101,532
▼ 19.8%
2025
20202025
Working capital
€138,540
▲ 53.8%
2025
middle half of the sector
20202025
Solvency
65.3%
▲ 8.0pp
2025
highest quarter of the sector
20202025
Current ratio
3.04
▲ 0.69
2025
highest quarter of the sector
20202025
Return on assets (ROA)
7.2%
▲ 24.8pp
2025
middle half of the sector
20202025
Staff (FTE)
1
▼ 50.0%
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€203,372-€296,672▲ 45.9%€292,802▼ 1.3%-€138,820-€49,986▲ 64.0%€22,726
Net result€169,964above the sector's middle half-€230,874above the sector's middle half▲ 35.8%€187,318above the sector's middle half▼ 18.9%-€147,031below the sector's middle half-€52,051below the sector's middle half▲ 64.6%€21,149within the sector's middle half
Equity€337,137within the sector's middle half-€181,511within the sector's middle half▼ 46.2%€368,829within the sector's middle half▲ 103%€221,798within the sector's middle half▼ 39.9%€169,746within the sector's middle half▼ 23.5%€190,896within the sector's middle half▲ 12.5%
Total assets€683,638within the sector's middle half-€437,668below the sector's middle half▼ 36.0%€831,759within the sector's middle half▲ 90.0%€560,371within the sector's middle half▼ 32.6%€296,328below the sector's middle half▼ 47.1%€292,428below the sector's middle half▼ 1.3%
Debt€346,502-€256,158▼ 26.1%€462,930▲ 80.7%€338,573▼ 26.9%€126,582▼ 62.6%€101,532▼ 19.8%
Working capital€168,961within the sector's middle half-€146,512within the sector's middle half▼ 13.3%€199,015within the sector's middle half▲ 35.8%€54,092within the sector's middle half▼ 72.8%€90,072within the sector's middle half▲ 66.5%€138,540within the sector's middle half▲ 53.8%
Solvency49.3%within the sector's middle half-41.5%within the sector's middle half▼ 7.8pp44.3%within the sector's middle half▲ 2.9pp39.6%within the sector's middle half▼ 4.8pp57.3%within the sector's middle half▲ 17.7pp65.3%above the sector's middle half▲ 8.0pp
Current ratio1.75within the sector's middle half-2.44above the sector's middle half▲ 0.691.59within the sector's middle half▼ 0.851.21within the sector's middle half▼ 0.372.36within the sector's middle half▲ 1.143.04above the sector's middle half▲ 0.69
Return on assets (ROA)24.9%above the sector's middle half-52.8%above the sector's middle half▲ 27.9pp22.5%above the sector's middle half▼ 30.2pp-26.2%below the sector's middle half▼ 48.8pp-17.6%below the sector's middle half▲ 8.7pp7.2%within the sector's middle half▲ 24.8pp
Staff (FTE)1below the sector's middle half-1below the sector's middle half=2below the sector's middle half▲ 100%2below the sector's middle half=2below the sector's middle half=1below the sector's middle half▼ 50.0%
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 profit of €22,726, after a loss of €49,986 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 €292,428
Fixed assets
€86,049 ▼ 38.4%
Current assets
€206,379 ▲ 31.8%
Equity and liabilities €292,428
Equity
€190,896 ▲ 12.5%
Debt
€101,532 ▼ 19.8%
Debt's share of the balance-sheet total falls from 42.7% to 34.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€92,253▲
2024 · €24,308
Cash flow
€90,677▲
2024 · €22,242
Debt to equity
0.53▼
2024 · 0.75
ROE
11.1%▲
2024 · -30.7%
Interest coverage
64.13▲
2024 · 12.76
Debt ≤ 1 year
€67,839▲
2024 · €66,460
Debt > 1 year
€33,693▼
2024 · €60,121
Income taxes
€141▼
2024 · €160
Staff costs
€59,746▼
2024 · €94,285
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 2 | 2 | 1 |
| full-time | 1 | 2 | 2 | 2 | 1 |
| in full-time equivalents | 1 | 2 | 2 | 2 | 1 |
| Average over the year, in full-time equivalents | 1 | 2 | 2 | 2 | 1 |
| On a permanent contract | - | 2 | 2 | 2 | 1 |
| Joined | - | 1 | - | - | - |
| Left | - | 0 | - | - | - |
| Training hours | 72 | 96 | 85 | 96 | 48 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €104,239 | €183,895 | €73,323 | €10,143 | €15,781 |
| Financial fixed assets | €200 | €135 | €135 | - | - |
| Depreciation and write-downs of the year | €204,587 | €79,446 | €111,537 | €74,293 | €69,527 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €339 awarded · €339 paidAnnual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €264 | - | - |
| Remuneration, social security and pensions62 | - | €70,479 | €93,237 | €106,690 | €94,285 | €59,746 | ▼ 36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €263,575 | €204,587 | €79,446 | €111,537 | €74,293 | €69,527 | ▼ 6.4% |
| Other operating charges640/8 | - | €1,229 | €2,750 | €2,702 | €2,548 | €1,686 | ▼ 33.8% |
| Non-recurring operating charges66A | - | - | - | €982 | €11,616 | - | - |
| Gross operating margin9900 | €554,956 | €572,968 | €468,236 | €83,092 | €132,757 | €153,685 | ▲ 15.8% |
| Operating profit (loss)9901 | €203,372 | €296,672 | €292,802 | -€138,820 | -€49,986 | €22,726 | - |
| Financial income75/76B | - | - | €523 | €36 | €0 | €3 | ▲ 838% |
| Recurring financial income75 | €134 | - | €523 | €36 | €0 | €3 | ▲ 838% |
| Financial charges65/66B | - | €4,748 | €19,911 | €8,107 | €1,906 | €1,439 | ▼ 24.5% |
| Recurring financial charges65 | €16,544 | €4,748 | €19,911 | €8,107 | €1,906 | €1,439 | ▼ 24.5% |
| Profit (loss) for the period before taxes9903 | €186,961 | €291,924 | €273,415 | -€146,891 | -€51,891 | €21,290 | - |
| Income taxes67/77 | €16,996 | €61,050 | €86,096 | €140 | €160 | €141 | ▼ 11.9% |
| Profit (loss) for the period9904 | €169,964 | €230,874 | €187,318 | -€147,031 | -€52,051 | €21,149 | - |
| Profit (loss) for the period to be appropriated9905 | €169,964 | €230,874 | €187,318 | -€147,031 | -€52,051 | €21,149 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €683,638 | €437,668 | €831,759 | €560,371 | €296,328 | €292,428 | ▼ 1.3% |
| Formation expenses20 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €289,425 | €189,276 | €293,859 | €253,798 | €139,795 | €86,049 | ▼ 38.4% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €289,425 | €189,076 | €293,524 | €253,328 | €139,325 | €85,579 | ▼ 38.6% |
| Land and buildings22 | - | - | - | €31,983 | €25,923 | €9,717 | ▼ 62.5% |
| Plant, machinery and equipment23 | - | €147,095 | €156,894 | €110,245 | €60,342 | €47,573 | ▼ 21.2% |
| Furniture and vehicles24 | - | €41,981 | €136,630 | €111,100 | €53,060 | €28,288 | ▼ 46.7% |
| Financial fixed assets28 | €0 | €200 | €335 | €470 | €470 | €470 | = |
| Current assets29/58 | €394,214 | €248,392 | €537,900 | €306,573 | €156,533 | €206,379 | ▲ 31.8% |
| Stocks and contracts in progress3 | €0 | - | €163,220 | - | - | - | - |
| Stocks30/36 | - | - | €163,220 | - | - | - | - |
| Amounts receivable within one year40/41 | €343,738 | €137,010 | €132,998 | €204,052 | €99,707 | €47,124 | ▼ 52.7% |
| Trade receivables40 | - | €130,796 | €132,998 | €138,932 | €92,934 | €17,761 | ▼ 80.9% |
| Other amounts receivable41 | - | €6,214 | - | €65,120 | €6,773 | €29,364 | ▲ 334% |
| Current investments50/53 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €48,970 | €110,530 | €239,689 | €102,371 | €56,826 | €157,546 | ▲ 177% |
| Deferred charges and accrued income490/1 | - | €853 | €1,994 | €150 | - | €1,709 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €683,638 | €437,668 | €831,759 | €560,371 | €296,328 | €292,428 | ▼ 1.3% |
| Equity10/15 | €337,137 | €181,511 | €368,829 | €221,798 | €169,746 | €190,896 | ▲ 12.5% |
| Contributions10/11 | €375,000 | - | - | - | - | - | - |
| Reserves13 | €181,464 | €181,511 | €368,829 | €368,829 | €368,829 | €368,829 | = |
| Distributable reserves133 | - | €181,511 | €368,829 | €368,829 | €368,829 | €368,829 | = |
| Profit (loss) carried forward14 | -€219,328 | - | - | -€147,031 | -€199,083 | -€177,933 | ▲ 10.6% |
| Amounts payable17/49 | €346,502 | €256,158 | €462,930 | €338,573 | €126,582 | €101,532 | ▼ 19.8% |
| Amounts payable after more than one year17 | €121,249 | €154,277 | €124,045 | €86,092 | €60,121 | €33,693 | ▼ 44.0% |
| Financial debts170/4 | - | €154,277 | €124,045 | €86,092 | €60,121 | €33,693 | ▼ 44.0% |
| Amounts payable within one year42/48 | €225,253 | €101,880 | €338,885 | €252,481 | €66,460 | €67,839 | ▲ 2.1% |
| Current portion of amounts payable after more than one year42 | - | €36,842 | €56,735 | €40,226 | €28,243 | €28,701 | ▲ 1.6% |
| Trade debts44 | €82,247 | €42,676 | €233,581 | €194,162 | €22,982 | €30,112 | ▲ 31.0% |
| Suppliers440/4 | - | €42,676 | €233,581 | €194,162 | €22,982 | €30,112 | ▲ 31.0% |
| Taxes, remuneration and social security45 | - | €22,362 | €46,610 | €16,484 | €15,235 | €9,026 | ▼ 40.8% |
| Taxes450/3 | - | €12,566 | €29,866 | €4,122 | €3,475 | €4,301 | ▲ 23.8% |
| Remuneration and social security454/9 | - | €9,796 | €16,744 | €12,363 | €11,761 | €4,725 | ▼ 59.8% |
| Other amounts payable47/48 | - | - | €1,959 | €1,609 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €169,964 | €230,874 | €187,318 | -€147,031 | -€52,051 | €21,149 | - |
| + Depreciation and write-downs630 | €263,575 | €204,587 | €79,446 | €111,537 | €74,293 | €69,527 | ▼ 6.4% |
| Operating cash flow (approximation) | €433,540 | €435,461 | €266,765 | -€35,494 | €22,242 | €90,677 | ▲ 308% |
| Investment in fixed assets (approximation) | - | -€104,439 | -€184,030 | -€71,476 | €39,709 | -€15,781 | - |
| Change in cash | - | €61,560 | €129,159 | -€137,318 | -€45,545 | €100,720 | - |
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, 31,368 companies had the same profile as LPP has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LPP itself: 0.1% 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 31,368 companies, not a prediction for LPP. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 19-06-2026 | 2026-00175799 | |
| 31-12-2024 | abbreviated format | 16-05-2025 | 2025-00095725 | |
| 31-12-2023 | abbreviated format | 01-07-2024 | 2024-00187722 | |
| 31-12-2022 | abbreviated format | 03-07-2023 | 2023-00188966 | |
| 31-12-2021 | abbreviated format | 25-07-2022 | 2022-20215569 | |
| 30-06-2020 | abbreviated format | 22-12-2020 | 2020-76400527 | |
| 30-09-2018 | abbreviated format | 08-03-2019 | 2019-06500411 | |
| 30-09-2017 | abbreviated format | 05-04-2018 | 2018-08900299 | |
| 30-09-2016 | abbreviated format | 29-03-2017 | 2017-07500018 | |
| 30-09-2015 | abbreviated format | 16-03-2016 | 2016-06400128 |