LSM
ActiveSummary
LSM has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €312,727 and a net result of €72,225. Equity is growing by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 85% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-6
Solvency100▲+12
Growth52=
Track record94
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 7.99 against 2.72 in 2024; short-term debt: 12.3% and cash: 88.8% of total assets), and 12.3% of the assets are financed with debt.
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Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
87.7%
Return on assets
20.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
16 d early
2024
36 d early
2023
8 d late
2022
69 d early
2021
3 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€312,727▲ 13.1%
2024 · €276,502
Total assets
€356,782▼ 18.3%
2024 · €436,875
Net result
€72,225▼ 40.1%
2024 · €120,530
Working capital
€307,928▲ 11.4%
2024 · €276,502
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€152,927-€118,401▼ 22.6%€120,127▲ 1.5%€163,427▲ 36.0%€97,935▼ 40.1%
Net result€120,879above the sector's middle half-€86,158above the sector's middle half▼ 28.7%€87,344above the sector's middle half▲ 1.4%€120,530above the sector's middle half▲ 38.0%€72,225above the sector's middle half▼ 40.1%
Equity€123,879within the sector's middle half-€210,038within the sector's middle half▲ 69.5%€297,381above the sector's middle half▲ 41.6%€276,502above the sector's middle half▼ 7.0%€312,727above the sector's middle half▲ 13.1%
Total assets€170,320within the sector's middle half-€270,847within the sector's middle half▲ 59.0%€337,938within the sector's middle half▲ 24.8%€436,875within the sector's middle half▲ 29.3%€356,782within the sector's middle half▼ 18.3%
Debt€46,441-€60,809▲ 30.9%€40,556▼ 33.3%€160,373▲ 295%€44,055▼ 72.5%
Working capital€123,879-€210,038▲ 69.5%€297,381▲ 41.6%€276,502▼ 7.0%€307,928▲ 11.4%
Solvency72.7%within the sector's middle half-77.5%above the sector's middle half▲ 4.8pp88.0%above the sector's middle half▲ 10.5pp63.3%within the sector's middle half▼ 24.7pp87.7%above the sector's middle half▲ 24.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €356,782
Fixed assets
€4,799
Current assets
€351,983
Equity and liabilities €356,782
Equity
€312,727 ▲ 13.1%
Debt
€44,055 ▼ 72.5%
Debt's share of the balance-sheet total falls from 36.7% to 12.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€98,019
Cash flow
€72,309
Current ratio
7.99▲
2024 · 2.72
Debt to equity
0.14▼
2024 · 0.58
ROE
23.1%▼
2024 · 43.6%
ROA
20.2%▼
2024 · 27.6%
Interest coverage
2281.64
Debt ≤ 1 year
€44,055▼
2024 · €160,373
Income taxes
€29,102▼
2024 · €47,136
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €84 | - |
| Other operating charges640/8 | €974 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €153,901 | €118,748 | €120,511 | €163,815 | €98,419 | ▼ 39.9% |
| Operating profit (loss)9901 | €152,927 | €118,401 | €120,127 | €163,427 | €97,935 | ▼ 40.1% |
| Financial income75/76B | €1,775 | €1,521 | €1,841 | €4,280 | €3,435 | ▼ 19.8% |
| Recurring financial income75 | €1,775 | €1,521 | €1,841 | €4,280 | €3,435 | ▼ 19.8% |
| Financial charges65/66B | €41 | €94 | €37 | €42 | €43 | ▲ 3.2% |
| Recurring financial charges65 | €41 | €94 | €37 | €42 | €43 | ▲ 3.2% |
| Profit (loss) for the period before taxes9903 | €154,661 | €119,827 | €121,930 | €167,666 | €101,327 | ▼ 39.6% |
| Income taxes67/77 | €33,781 | €33,669 | €34,586 | €47,136 | €29,102 | ▼ 38.3% |
| Profit (loss) for the period9904 | €120,879 | €86,158 | €87,344 | €120,530 | €72,225 | ▼ 40.1% |
| Profit (loss) for the period to be appropriated9905 | €120,879 | €86,158 | €87,344 | €120,530 | €72,225 | ▼ 40.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €170,320 | €270,847 | €337,938 | €436,875 | €356,782 | ▼ 18.3% |
| Fixed assets21/28 | - | - | - | - | €4,799 | - |
| Tangible fixed assets22/27 | - | - | - | - | €4,799 | - |
| Plant, machinery and equipment23 | - | - | - | - | €1,318 | - |
| Furniture and vehicles24 | - | - | - | - | €3,481 | - |
| Current assets29/58 | €170,320 | €270,847 | €337,938 | €436,875 | €351,983 | ▼ 19.4% |
| Amounts receivable after more than one year29 | - | €49,300 | €49,300 | €49,300 | €0 | ▼ 100% |
| Other amounts receivable291 | - | €49,300 | €49,300 | €49,300 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €65,116 | €6,756 | €32,080 | €78,052 | €35,223 | ▼ 54.9% |
| Trade receivables40 | €15,730 | €0 | €18,351 | €18,599 | €11,116 | ▼ 40.2% |
| Other amounts receivable41 | €49,386 | €6,756 | €13,728 | €59,453 | €24,107 | ▼ 59.5% |
| Cash at bank and in hand54/58 | €105,205 | €214,791 | €256,558 | €309,523 | €316,761 | ▲ 2.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €170,320 | €270,847 | €337,938 | €436,875 | €356,782 | ▼ 18.3% |
| Equity10/15 | €123,879 | €210,038 | €297,381 | €276,502 | €312,727 | ▲ 13.1% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | €86,158 | €173,502 | €273,502 | €309,727 | ▲ 13.2% |
| Distributable reserves133 | - | €86,158 | €173,502 | €273,502 | €309,727 | ▲ 13.2% |
| Profit (loss) carried forward14 | €120,879 | €120,879 | €120,879 | €0 | €0 | - |
| Amounts payable17/49 | €46,441 | €60,809 | €40,556 | €160,373 | €44,055 | ▼ 72.5% |
| Amounts payable within one year42/48 | €46,441 | €60,809 | €40,556 | €160,373 | €44,055 | ▼ 72.5% |
| Trade debts44 | €1,843 | €2,372 | €10,870 | €12,937 | €4,950 | ▼ 61.7% |
| Suppliers440/4 | €1,843 | €2,372 | €10,870 | €12,937 | €4,950 | ▼ 61.7% |
| Taxes, remuneration and social security45 | €44,597 | €58,438 | €29,687 | €6,026 | €3,105 | ▼ 48.5% |
| Taxes450/3 | €44,597 | €58,438 | €29,687 | €6,026 | €3,105 | ▼ 48.5% |
| Other amounts payable47/48 | - | - | - | €141,409 | €36,000 | ▼ 74.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €120,879 | €86,158 | €87,344 | €120,530 | €72,225 | ▼ 40.1% |
| + Depreciation and write-downs630 | - | - | - | - | €84 | - |
| Operating cash flow (approximation) | €120,879 | €86,158 | €87,344 | €120,530 | €72,309 | ▼ 40.0% |
| Change in cash | - | €109,586 | €41,768 | €52,965 | €7,238 | ▼ 86.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €72,225 ▼40.1%
Net result drops to €72,225, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 7.99
Current ratio from 2.72 to 7.99; short-term debt falls from €160,373 to €44,055.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €210,038 ▲69.5%
2 profitable years in a row build equity to €210,038.
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Herve · 1 establishment unit since 2020
Ground area
2,833 m²
Building footprint
203 m²
Volume, LiDAR
1,165 m³
Parcel 63006B0291/00Y000, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
LSM
since 20202.309.473.592
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63006B0291/00Y000 | Wallonia | 2,833 m² | 1 · 203 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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 82,642 companies in sector 70200 we hold annual accounts for 52,589. 37,894 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
9925:BE0757905837
Registered
17-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.