LSP1
ActiveSummary
LSP1 has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €246k and a net result of €52k. Equity is shrinking by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 19% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability43▲+29
Solvency30▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.23 against 0.24 in 2024; short-term debt: 47% and cash: 8.2% of total assets), and 95.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
4.9%
Return on assets
1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 4556 sector peers (2025).
NBB · sector comparisonPosition among 4556 sector peers
Solvency
better than 19%
← weakest
strongest →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
24 d early
2024
36 d early
2023
19 d early
2022
31 d early
2021
34 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€52k
2024 · €-210k
2021: €-348klowest in 5 years
2022: €9k▲ +103% vs 2021
2023: €-7k▼ -171% vs 2022
2024: €-210k▼ -3067% vs 2023
2025: €52k▲ +125% vs 2024highest in 5 years
2021 → 2025
Working capital
€-1.80M▼ 4.3%
2024 · €-1.73M
2021: €3.49Mhighest in 5 years
2022: €3.17M▼ -9.1% vs 2021
2023: €2.62M▼ -17.3% vs 2022
2024: €-1.73M▼ -166% vs 2023
2025: €-1.80M▼ -4.3% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€402k-€411k▲ 2.3%€405k▼ 1.6%€194k▼ 52.0%€246k▲ 26.6%
2021: €402k
2022: €411k▲ +2.3% vs 2021highest in 5 years
2023: €405k▼ -1.6% vs 2022
2024: €194k▼ -52.0% vs 2023lowest in 5 years
2025: €246k▲ +26.6% vs 2024
Operating result€-336k-€-12k▲ 96.4%€-32k▼ 163%€-188k▼ 484%€162k
2021: €-336klowest in 5 years
2022: €-12k▲ +96.4% vs 2021
2023: €-32k▼ -163% vs 2022
2024: €-188k▼ -484% vs 2023
2025: €162k▲ +186% vs 2024highest in 5 years
Net result€-348k-€9k€-7k€-210k▼ 3,067%€52k
2021: €-348klowest in 5 years
2022: €9k▲ +103% vs 2021
2023: €-7k▼ -171% vs 2022
2024: €-210k▼ -3067% vs 2023
2025: €52k▲ +125% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €162k after a loss of €188k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.98M
Fixed assets
€4.44M ▼ 2.1%
Current assets
€540k ▼ 2.2%
Equity and liabilities €4.98M
Equity
€246k ▲ 26.6%
Debt
€4.73M ▼ 3.2%
Debt's share of the balance-sheet total falls from 96.2% to 95.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€298k▲
2024 · €-154k
Cash flow
€188k▲
2024 · €-176k
Current ratio
0.23▼
2024 · 0.24
Debt to equity
19.23▼
2024 · 25.17
ROE
21.0%▲
2024 · -108.2%
ROA
1.0%▲
2024 · -4.1%
Interest coverage
2.71▲
2024 · -1.31
Debt ≤ 1 year
€2.34M▲
2024 · €2.28M
Debt > 1 year
€2.35M▼
2024 · €2.57M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.09M€4.98M▼
Fixed assets21/28€4.53M€4.44M▼
Tangible fixed assets22/27€4.53M€4.44M▼
Land and buildings22€3.80M€3.66M▼
Assets under construction and advance payments27€738k€781k▲
Current assets29/58€552k€540k▼
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Amounts receivable within one year40/41€67k€56k▼
Trade receivables40€65k€56k▼
Other amounts receivable41€2k€0▼
Cash at bank and in hand54/58€404k€407k▲
Deferred charges and accrued income490/1€80k€76k▼
Equity and liabilities
Total equity and liabilities10/49€5.09M€4.98M▼
Equity10/15€194k€246k▲
Contributions10/11€750k€750k=
Capital10€750k€750k=
Issued capital100€750k€750k=
Profit (loss) carried forward14€-556k€-504k▲
Amounts payable17/49€4.89M€4.73M▼
Amounts payable after more than one year17€2.57M€2.35M▼
Financial debts170/4€2.57M€2.35M▼
Amounts payable within one year42/48€2.28M€2.34M▲
Current portion of amounts payable after more than one year42€228k€233k▲
Trade debts44€54k€58k▲
Suppliers440/4€54k€58k▲
Taxes, remuneration and social security45€0€22k▲
Taxes450/3€0€22k▲
Other amounts payable47/48€2.00M€2.03M▲
Accrued charges and deferred income492/3€40k€37k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34k€136k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€191k€0▼
Other operating charges640/8€21k€22k▲
Gross operating margin9900€59k€320k▲
Operating profit (loss)9901€-188k€162k▲
Financial income75/76B€96k€0▼
Recurring financial income75€96k€0▼
Financial charges65/66B€118k€110k▼
Recurring financial charges65€118k€110k▼
Profit (loss) for the period before taxes9903€-210k€52k▲
Profit (loss) for the period9904€-210k€52k▲
Profit (loss) for the period to be appropriated9905€-210k€52k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-556k€-504k▲
Profit (loss) brought forward from the previous period14P€-345k€-556k▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €0 | - | €34k | €136k | ▲ 298% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €19k | €191k | €0 | ▼ 100% |
| Other operating charges640/8 | €472k | €35k | €19k | €21k | €22k | ▲ 2.9% |
| Gross operating margin9900 | €137k | €23k | €6k | €59k | €320k | ▲ 445% |
| Operating profit (loss)9901 | €-336k | €-12k | €-32k | €-188k | €162k | ▲ 186% |
| Financial income75/76B | €93k | €143k | €135k | €96k | €0 | ▼ 100% |
| Recurring financial income75 | €93k | €143k | €135k | €96k | €0 | ▼ 100% |
| Financial charges65/66B | €106k | €121k | €109k | €118k | €110k | ▼ 6.4% |
| Recurring financial charges65 | €106k | €121k | €109k | €118k | €110k | ▼ 6.4% |
| Profit (loss) for the period before taxes9903 | €-348k | €9k | €-7k | €-210k | €52k | ▲ 125% |
| Profit (loss) for the period9904 | €-348k | €9k | €-7k | €-210k | €52k | ▲ 125% |
| Profit (loss) for the period to be appropriated9905 | €-348k | €9k | €-7k | €-210k | €52k | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.77M | €4.74M | €4.69M | €5.09M | €4.98M | ▼ 2.1% |
| Fixed assets21/28 | €151k | €270k | €604k | €4.53M | €4.44M | ▼ 2.1% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €151k | €270k | €604k | €4.53M | €4.44M | ▼ 2.1% |
| Land and buildings22 | €151k | €151k | €199k | €3.80M | €3.66M | ▼ 3.6% |
| Assets under construction and advance payments27 | - | €119k | €405k | €738k | €781k | ▲ 5.8% |
| Current assets29/58 | €4.62M | €4.47M | €4.09M | €552k | €540k | ▼ 2.2% |
| Amounts receivable after more than one year29 | €4.10M | €3.76M | €3.50M | €0 | - | - |
| Trade receivables290 | €4.10M | €3.76M | €3.50M | - | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - |
| Amounts receivable within one year40/41 | €307k | €347k | €490k | €67k | €56k | ▼ 16.2% |
| Trade receivables40 | €307k | €345k | €490k | €65k | €56k | ▼ 13.8% |
| Other amounts receivable41 | - | €2k | €0 | €2k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €208k | €365k | €100k | €404k | €407k | ▲ 0.7% |
| Deferred charges and accrued income490/1 | - | - | - | €80k | €76k | ▼ 5.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.77M | €4.74M | €4.69M | €5.09M | €4.98M | ▼ 2.1% |
| Equity10/15 | €402k | €411k | €405k | €194k | €246k | ▲ 26.6% |
| Contributions10/11 | €750k | €750k | €750k | €750k | €750k | = |
| Capital10 | €750k | €750k | €750k | €750k | €750k | = |
| Issued capital100 | €750k | €750k | €750k | €750k | €750k | = |
| Profit (loss) carried forward14 | €-348k | €-339k | €-345k | €-556k | €-504k | ▲ 9.3% |
| Amounts payable17/49 | €4.37M | €4.33M | €4.29M | €4.89M | €4.73M | ▼ 3.2% |
| Amounts payable after more than one year17 | €3.19M | €2.99M | €2.78M | €2.57M | €2.35M | ▼ 8.4% |
| Financial debts170/4 | €3.19M | €2.99M | €2.78M | €2.57M | €2.35M | ▼ 8.4% |
| Amounts payable within one year42/48 | €1.13M | €1.30M | €1.47M | €2.28M | €2.34M | ▲ 2.7% |
| Current portion of amounts payable after more than one year42 | €212k | €217k | €222k | €228k | €233k | ▲ 2.4% |
| Trade debts44 | €3k | €145k | €252k | €54k | €58k | ▲ 7.6% |
| Suppliers440/4 | €3k | €145k | €252k | €54k | €58k | ▲ 7.6% |
| Taxes, remuneration and social security45 | €9k | €0 | €20k | €0 | €22k | - |
| Taxes450/3 | €9k | €0 | €20k | €0 | €22k | - |
| Other amounts payable47/48 | €907k | €942k | €977k | €2.00M | €2.03M | ▲ 1.5% |
| Accrued charges and deferred income492/3 | €48k | €41k | €38k | €40k | €37k | ▼ 7.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-348k | €9k | €-7k | €-210k | €52k | ▲ 125% |
| + Depreciation and write-downs630 | €2k | €0 | - | €34k | €136k | ▲ 298% |
| Operating cash flow (approximation) | €-347k | €9k | €-7k | €-176k | €188k | ▲ 207% |
| Investment in fixed assets (approximation) | - | €-119k | €-334k | €-3.96M | €-43k | ▲ 98.9% |
| Change in cash | - | €157k | €-265k | €305k | €3k | ▼ 99.0% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €52k
Net result €52k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €246k ▲26.6%
Equity rises from €194k to €246k.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Liège · 1 establishment unit since 2020
Ground area
816 m²
Building footprint
308 m²
Volume, LiDAR
4,633 m³
Parcel 62063A0171/00B000, Wallonia · tallest building 36.4 m, ±5 floors. Linked by address, not a title deed.
38
companies at this address
See who is registered here
1 establishment unit
LSP1
since 20202.307.308.514
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62063A0171/00B000 ProtectedMonument |
Wallonia | 816 m² | 1 · 308 m² | 36.4 m · 5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,852 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded15-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Contact
E-mail
info@noshaq.be
Phone
+3242216234
Scores and ratios are computed by Checked and are not a credit decision.