LSGI SERVICES
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 9 filings
Turnover
€5.4m▲ 37.3%
2018 · €4.0m
EBIT margin
3.0%▼ 1.4pp
2018 · 4.4%
Net result
€171,578▼ 17.1%
2024 · €206,994
Working capital
€1.4m▲ 39.6%
2024 · €1.0m
In the rankings
#2 company by total assets in Bastogne, Administrative and support services sector#5 company by equity in Bastogne, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€236,072
▼ 19.4%
2025
20182025
Net result
€171,578
▼ 17.1%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€1.2m
▲ 16.6%
2025
middle half of the sector
20182025
Total assets
€3.9m
▼ 32.2%
2025
middle half of the sector
20182025
Debt
€2.5m
▼ 47.8%
2025
20182025
Working capital
€1.4m
▲ 39.6%
2025
highest quarter of the sector
20182025
Solvency
30.6%
▲ 12.8pp
2025
middle half of the sector
20182025
Current ratio
1.57
▲ 0.36
2025
middle half of the sector
20182025
Return on assets (ROA)
4.3%
▲ 0.8pp
2025
middle half of the sector
20182025
Staff (FTE)
20
▼ 9.1%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€4.0m-€5.4m▲ 37.3%
Operating result€0.2m-€0.2m▼ 5.8%€0.2m▲ 38.2%€0.2m▼ 12.4%€0.2m▲ 10.6%€0.1m▼ 38.1%€0.3m▲ 116%€0.2m▼ 19.4%
Net result€0.1m-€0.1m▼ 8.4%€0.2mabove the sector's middle half▲ 43.9%€0.1mwithin the sector's middle half▼ 29.4%€0.09mwithin the sector's middle half▼ 14.0%€0.1mwithin the sector's middle half▲ 9.4%€0.2mwithin the sector's middle half▲ 103%€0.2mwithin the sector's middle half▼ 17.1%
EBIT margin4.4%-3.0%▼ 1.4pp
Equity€0.3m-€0.4m▲ 40.2%€0.5mwithin the sector's middle half▲ 41.3%€0.6mwithin the sector's middle half▲ 20.6%€0.7mwithin the sector's middle half▲ 14.7%€0.8mwithin the sector's middle half▲ 14.0%€1.0mwithin the sector's middle half▲ 25.0%€1.2mwithin the sector's middle half▲ 16.6%
Total assets€2.2m-€2.9m▲ 28.0%€3.0mwithin the sector's middle half▲ 6.4%€2.9mwithin the sector's middle half▼ 3.3%€6.0mwithin the sector's middle half▲ 103%€5.0mwithin the sector's middle half▼ 15.7%€5.8mwithin the sector's middle half▲ 15.9%€3.9mwithin the sector's middle half▼ 32.2%
Debt€2.0m-€2.5m▲ 26.3%€2.5m▲ 1.2%€2.3m▼ 8.3%€5.2m▲ 124%€4.2m▼ 18.7%€4.8m▲ 14.1%€2.5m▼ 47.8%
Working capital-€0.04m-€0.1m€0.4mwithin the sector's middle half▲ 175%€0.6mwithin the sector's middle half▲ 45.7%€0.8mabove the sector's middle half▲ 38.3%€2.4mabove the sector's middle half▲ 208%€1.0mabove the sector's middle half▼ 57.3%€1.4mabove the sector's middle half▲ 39.6%
Solvency11.9%-13.0%▲ 1.1pp17.3%within the sector's middle half▲ 4.3pp21.5%within the sector's middle half▲ 4.3pp12.2%below the sector's middle half▼ 9.3pp16.5%within the sector's middle half▲ 4.3pp17.8%within the sector's middle half▲ 1.3pp30.6%within the sector's middle half▲ 12.8pp
Current ratio0.98-1.06▲ 0.081.15within the sector's middle half▲ 0.101.25within the sector's middle half▲ 0.091.15within the sector's middle half▼ 0.091.92within the sector's middle half▲ 0.771.21within the sector's middle half▼ 0.711.57within the sector's middle half▲ 0.36
Return on assets (ROA)5.2%-3.7%▼ 1.5pp5.0%within the sector's middle half▲ 1.3pp3.7%within the sector's middle half▼ 1.4pp1.6%within the sector's middle half▼ 2.1pp2.0%within the sector's middle half▲ 0.5pp3.6%within the sector's middle half▲ 1.5pp4.3%within the sector's middle half▲ 0.8pp
Staff (FTE)1.8-21▲ 12×19within the sector's middle half▼ 9.5%18within the sector's middle half▼ 5.3%20within the sector's middle half▲ 11.1%19.8above the sector's middle half▼ 1.0%22above the sector's middle half▲ 11.1%20within the sector's middle half▼ 9.1%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 19% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€13,238 ▲ 52.4%
Current assets
€3.9m ▼ 32.4%
Equity and liabilities €3.9m
Equity
€1.2m ▲ 16.6%
Provisions
€240,000
Debt
€2.5m ▼ 47.8%
Debt's share of the balance-sheet total falls from 82.2% to 63.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€239,987▼
2024 · €296,823
Cash flow
€175,493▼
2024 · €211,024
Debt to equity
2.07▼
2024 · 4.62
ROE
14.2%▼
2024 · 20.0%
Interest coverage
48.12▼
2024 · 72.84
Debt ≤ 1 year
€2.5m▼
2024 · €4.8m
Income taxes
€59,527▼
2024 · €81,736
Staff costs
€4.7m▲
2024 · €3.1m
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 | 18 | 20 | 19 | 22 | 20 |
| full-time | 18 | 20 | 18 | 22 | 20 |
| part-time | - | - | 1 | - | - |
| in full-time equivalents | 18 | 20 | 19 | 22 | 20 |
| Average over the year, in full-time equivalents | 18 | 20 | 19.8 | 22 | 20 |
| On a permanent contract | 18 | 20 | 19 | 20 | 19 |
| Joined | 3 | - | 3 | 4 | 2 |
| Left | 4 | - | 4 | 1 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,342 | €3,416 | €826 | €1,315 | €3,426 |
| Financial fixed assets | - | - | - | - | €5,529 |
| Depreciation and write-downs of the year | €75,417 | €51,122 | €7,886 | €4,030 | €3,915 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €4.0m | €5.4m | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €0.08m | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2.8m | €2.6m | €2.2m | €3.1m | €4.7m | ▲ 52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.09m | €0.09m | €0.08m | €0.05m | €0.008m | €0.004m | €0.004m | ▼ 2.8% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | €0.006m | €0.01m | €0.007m | ▼ 32.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.001m | - | €0.2m | - |
| Gross operating margin9900 | - | - | €2.8m | €3.1m | €2.9m | €2.4m | €3.4m | €5.2m | ▲ 52.6% |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.3m | €0.2m | ▼ 19.4% |
| Financial income75/76B | - | - | - | €0.002m | €0.001m | €0.002m | €12 | €20 | ▲ 67.3% |
| Recurring financial income75 | - | - | €1 | €0.002m | €0.001m | €0.002m | €12 | €20 | ▲ 67.3% |
| Non-recurring financial income76B | - | - | - | - | €0.001m | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.007m | €0.08m | €0.006m | €0.004m | €0.005m | ▲ 22.4% |
| Recurring financial charges65 | €0.003m | €0.008m | €0.009m | €0.007m | €0.008m | €0.006m | €0.004m | €0.005m | ▲ 22.4% |
| Debt charges650 | €0.003m | €0.008m | - | - | - | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | - | €0.08m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.3m | €0.2m | ▼ 20.0% |
| Income taxes67/77 | €0.05m | €0.05m | €0.06m | €0.08m | €0.04m | €0.03m | €0.08m | €0.06m | ▼ 27.2% |
| Profit (loss) for the period9904 | €0.1m | €0.1m | €0.2m | €0.1m | €0.09m | €0.1m | €0.2m | €0.2m | ▼ 17.1% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.1m | €0.2m | €0.1m | €0.09m | €0.1m | €0.2m | €0.2m | ▼ 17.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €2.9m | €3.0m | €2.9m | €6.0m | €5.0m | €5.8m | €3.9m | ▼ 32.2% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.1m | €0.07m | €0.02m | €0.01m | €0.009m | €0.01m | ▲ 52.4% |
| Intangible fixed assets21 | €0.2m | €0.2m | €0.1m | €0.04m | €0.001m | €0 | - | - | - |
| Tangible fixed assets22/27 | €0.07m | €0.06m | €0.03m | €0.02m | €0.02m | €0.01m | €0.009m | €0.008m | ▼ 11.3% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.01m | €0.009m | €0.008m | ▼ 11.3% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €0.006m | - |
| Current assets29/58 | €1.9m | €2.6m | €2.9m | €2.9m | €5.9m | €5.0m | €5.8m | €3.9m | ▼ 32.4% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €2.2m | - | - | - |
| Other amounts receivable291 | - | - | - | - | - | €2.2m | - | - | - |
| Amounts receivable within one year40/41 | €1.7m | €2.4m | €2.8m | €2.3m | €5.7m | €2.4m | €5.5m | €2.6m | ▼ 51.8% |
| Trade receivables40 | - | - | - | €1.2m | €3.8m | €2.3m | €5.5m | €2.6m | ▼ 52.0% |
| Other amounts receivable41 | - | - | - | €1.2m | €1.9m | €0.03m | €396 | €0.01m | ▲ 35× |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.09m | €0.5m | €0.1m | €0.3m | €0.2m | €1.0m | ▲ 361% |
| Deferred charges and accrued income490/1 | - | - | - | €0.07m | €0.1m | €0.06m | €0.1m | €0.2m | ▲ 130% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €2.9m | €3.0m | €2.9m | €6.0m | €5.0m | €5.8m | €3.9m | ▼ 32.2% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | €1.0m | €1.2m | ▲ 16.6% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.008m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | €0.9m | €1.1m | ▲ 18.5% |
| Provisions and deferred taxes16 | - | - | - | - | €0.08m | €0 | - | €0.2m | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0.08m | €0 | - | €0.2m | - |
| Other liabilities and charges164/5 | - | - | - | - | €0.08m | €0 | - | €0.2m | - |
| Amounts payable17/49 | €2.0m | €2.5m | €2.5m | €2.3m | €5.2m | €4.2m | €4.8m | €2.5m | ▼ 47.8% |
| Amounts payable after more than one year17 | - | - | - | - | - | €1.6m | - | - | - |
| Advances received on contracts in progress176 | - | - | - | - | - | €1.6m | - | - | - |
| Amounts payable within one year42/48 | €2.0m | €2.5m | €2.5m | €2.3m | €5.2m | €2.6m | €4.8m | €2.5m | ▼ 47.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €1.6m | €118 | ▼ 100.0% |
| Trade debts44 | €1.5m | €1.6m | €1.5m | €1.4m | €2.7m | €2.0m | €2.1m | €1.6m | ▼ 23.0% |
| Suppliers440/4 | - | - | - | €1.4m | €2.7m | €2.0m | €2.1m | €1.6m | ▼ 23.0% |
| Advances received on contracts in progress46 | - | - | - | - | €1.6m | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.8m | €0.8m | €0.6m | €1.1m | €0.8m | ▼ 19.8% |
| Taxes450/3 | - | - | - | €0.2m | €0.3m | €0.09m | €0.2m | €0.2m | ▼ 33.4% |
| Remuneration and social security454/9 | - | - | - | €0.6m | €0.6m | €0.5m | €0.8m | €0.7m | ▼ 15.6% |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 8.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €116,399 | €106,610 | €153,407 | €108,324 | €93,194 | €101,984 | €206,994 | €171,578 | ▼ 17.1% |
| + Depreciation and write-downs630 | €81,048 | €89,029 | €93,757 | €75,417 | €51,122 | €7,886 | €4,030 | €3,915 | ▼ 2.8% |
| Operating cash flow (approximation) | €197,447 | €195,639 | €247,164 | €183,742 | €144,316 | €109,870 | €211,024 | €175,493 | ▼ 16.8% |
| Investment in fixed assets (approximation) | - | -€18,234 | €0 | -€6,342 | -€2,583 | €156 | -€1,315 | -€8,466 | ▼ 544% |
| Change in cash | - | €15,940 | -€140,164 | €375,826 | -€346,087 | €215,009 | -€104,130 | €817,613 | - |
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, 1,639 companies had the same profile as LSGI SERVICES has now. Two years later, 95.5% were still going and 0.5% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.5%
was still going
3.7%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LSGI SERVICES 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 1,639 companies, not a prediction for LSGI SERVICES. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 06-07-2026 | 2026-00270550 | |
| 31-12-2024 | full format | 17-06-2025 | 2025-00159805 | |
| 31-12-2023 | full format | 19-06-2024 | 2024-00166572 | |
| 31-12-2022 | full format | 26-06-2023 | 2023-00164341 | |
| 31-12-2021 | full format | 23-06-2022 | 2022-20101503 | |
| 31-12-2020 | full format | 02-07-2021 | 2021-32300501 | |
| 31-12-2019 | full format | 30-06-2020 | 2020-25300059 | |
| 31-12-2018 | full format | 17-06-2019 | 2019-19500596 | |
| 31-12-2017 | full format | 26-06-2018 | 2018-24800442 |