LSR
ActiveSummary
LSR has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €583k and a net result of €48k. Equity is growing by ~5.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▲+11
Solvency58▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity short (current ratio 0.09 against 0.08 in 2024; short-term debt: 51.2% and cash: 0.6% of total assets), and 66.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
33.2%
Return on assets
2.8%
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
31 d early
2023
1 d early
2022
54 d early
2021
39 d early
2020
53 d early
2019
51 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, abbreviated schema
Equity
€583k▲ 9.1%
2024 · €534k
2018: €494k
2019: €483k▼ -2.2% vs 2018
2020: €404k▼ -16.3% vs 2019lowest in 8 years
2021: €424k▲ +4.9% vs 2020
2022: €461k▲ +8.8% vs 2021
2023: €491k▲ +6.3% vs 2022
2024: €534k▲ +8.9% vs 2023
2025: €583k▲ +9.1% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.75M▼ 3.5%
2024 · €1.82M
2018: €1.27Mlowest in 8 years
2019: €1.36M▲ +7.1% vs 2018
2020: €2.07M▲ +52.7% vs 2019highest in 8 years
2021: €2.01M▼ -2.9% vs 2020
2022: €1.97M▼ -1.9% vs 2021
2023: €1.88M▼ -5.0% vs 2022
2024: €1.82M▼ -3.1% vs 2023
2025: €1.75M▼ -3.5% vs 2024
2018 → 2025
Net result
€48k▲ 11.4%
2024 · €43k
2018: €13k
2019: €-11k▼ -181% vs 2018
2020: €-79k▼ -640% vs 2019lowest in 8 years
2021: €20k▲ +125% vs 2020
2022: €37k▲ +87.1% vs 2021
2023: €29k▼ -21.4% vs 2022
2024: €43k▲ +48.9% vs 2023
2025: €48k▲ +11.4% vs 2024highest in 8 years
2018 → 2025
Working capital
€-815k▲ 6.3%
2024 · €-870k
2018: €-79khighest in 8 years
2019: €-180k▼ -127% vs 2018
2020: €-1.06M▼ -491% vs 2019lowest in 8 years
2021: €-1.01M▲ +4.6% vs 2020
2022: €-938k▲ +7.4% vs 2021
2023: €-972k▼ -3.6% vs 2022
2024: €-870k▲ +10.5% vs 2023
2025: €-815k▲ +6.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€424k-€461k▲ 8.8%€491k▲ 6.3%€534k▲ 8.9%€583k▲ 9.1%
2021: €424klowest in 5 years
2022: €461k▲ +8.8% vs 2021
2023: €491k▲ +6.3% vs 2022
2024: €534k▲ +8.9% vs 2023
2025: €583k▲ +9.1% vs 2024highest in 5 years
Operating result€68k-€83k▲ 22.2%€73k▼ 12.8%€85k▲ 16.2%€78k▼ 7.7%
2021: €68klowest in 5 years
2022: €83k▲ +22.2% vs 2021
2023: €73k▼ -12.8% vs 2022
2024: €85k▲ +16.2% vs 2023highest in 5 years
2025: €78k▼ -7.7% vs 2024
Net result€20k-€37k▲ 87.1%€29k▼ 21.4%€43k▲ 48.9%€48k▲ 11.4%
2021: €20klowest in 5 years
2022: €37k▲ +87.1% vs 2021
2023: €29k▼ -21.4% vs 2022
2024: €43k▲ +48.9% vs 2023
2025: €48k▲ +11.4% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.75M
Fixed assets
€1.67M ▼ 4.2%
Current assets
€83k ▲ 13.1%
Equity and liabilities €1.75M
Equity
€583k ▲ 9.1%
Debt
€1.17M ▼ 8.7%
Debt's share of the balance-sheet total falls from 70.6% to 66.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€158k▼
2024 · €164k
Cash flow
€129k▲
2024 · €122k
Current ratio
0.09▲
2024 · 0.08
Debt to equity
2.01▼
2024 · 2.40
ROE
8.3%▲
2024 · 8.1%
ROA
2.8%▲
2024 · 2.4%
Interest coverage
5.18▲
2024 · 3.90
Debt ≤ 1 year
€898k▼
2024 · €944k
Debt > 1 year
€183k▼
2024 · €228k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.82M€1.75M▼
Fixed assets21/28€1.74M€1.67M▼
Tangible fixed assets22/27€1.74M€1.67M▼
Land and buildings22€1.11M€1.06M▼
Furniture and vehicles24€2k€1k▼
Leasing and similar rights25€636k€606k▼
Current assets29/58€74k€83k▲
Amounts receivable within one year40/41€61k€66k▲
Other amounts receivable41€61k€66k▲
Cash at bank and in hand54/58€6k€11k▲
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.82M€1.75M▼
Equity10/15€534k€583k▲
Contributions10/11€502k€502k=
Capital10€501k€501k=
Issued capital100€501k€501k=
Outside capital11€977€977=
Share premium1100/10€977€977=
Reserves13€2k€4k▲
Non-distributable reserves130/1€2k€4k▲
Legal reserve130€2k€4k▲
Profit (loss) carried forward14€30k€76k▲
Amounts payable17/49€1.28M€1.17M▼
Amounts payable after more than one year17€228k€183k▼
Financial debts170/4€228k€183k▼
Amounts payable within one year42/48€944k€898k▼
Current portion of amounts payable after more than one year42€44k€46k▲
Trade debts44-€998
Suppliers440/4-€998
Other amounts payable47/48€899k€852k▼
Accrued charges and deferred income492/3€112k€91k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€79k€80k▲
Other operating charges640/8€12k€13k▲
Gross operating margin9900€176k€171k▼
Operating profit (loss)9901€85k€78k▼
Financial income75/76B€881€946▲
Recurring financial income75€881€946▲
Financial charges65/66B€42k€31k▼
Recurring financial charges65€42k€31k▼
Profit (loss) for the period before taxes9903€43k€48k▲
Profit (loss) for the period9904€43k€48k▲
Profit (loss) for the period to be appropriated9905€43k€48k▲
Appropriation of the result
Profit (loss) to be appropriated9906€32k€79k▲
Profit (loss) brought forward from the previous period14P€-12k€30k▲
Transfer to equity691/2€2k€2k▲
To the legal reserve6920€2k€2k▲
The notes to these accounts (10 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 | €75k | €77k | €78k | €79k | €80k | ▲ 1.4% |
| Other operating charges640/8 | €10k | €11k | €12k | €12k | €13k | ▲ 3.1% |
| Gross operating margin9900 | €154k | €171k | €163k | €176k | €171k | ▼ 2.8% |
| Operating profit (loss)9901 | €68k | €83k | €73k | €85k | €78k | ▼ 7.7% |
| Financial income75/76B | €2k | €737 | €809 | €881 | €946 | ▲ 7.5% |
| Recurring financial income75 | €2k | €737 | €809 | €881 | €946 | ▲ 7.5% |
| Financial charges65/66B | €51k | €47k | €44k | €42k | €31k | ▼ 27.2% |
| Recurring financial charges65 | €51k | €47k | €44k | €42k | €31k | ▼ 27.2% |
| Profit (loss) for the period before taxes9903 | €20k | €37k | €29k | €43k | €48k | ▲ 11.4% |
| Profit (loss) for the period9904 | €20k | €37k | €29k | €43k | €48k | ▲ 11.4% |
| Profit (loss) for the period to be appropriated9905 | €20k | €37k | €29k | €43k | €48k | ▲ 11.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.01M | €1.97M | €1.88M | €1.82M | €1.75M | ▼ 3.5% |
| Fixed assets21/28 | €1.95M | €1.88M | €1.81M | €1.74M | €1.67M | ▼ 4.2% |
| Tangible fixed assets22/27 | €1.95M | €1.88M | €1.81M | €1.74M | €1.67M | ▼ 4.2% |
| Land and buildings22 | €1.22M | €1.18M | €1.14M | €1.11M | €1.06M | ▼ 3.8% |
| Furniture and vehicles24 | - | - | €2k | €2k | €1k | ▼ 25.8% |
| Leasing and similar rights25 | €728k | €697k | €667k | €636k | €606k | ▼ 4.8% |
| Current assets29/58 | €66k | €96k | €64k | €74k | €83k | ▲ 13.1% |
| Amounts receivable within one year40/41 | €48k | €51k | €57k | €61k | €66k | ▲ 8.1% |
| Other amounts receivable41 | €48k | €51k | €57k | €61k | €66k | ▲ 8.1% |
| Cash at bank and in hand54/58 | €13k | €39k | €325 | €6k | €11k | ▲ 71.2% |
| Deferred charges and accrued income490/1 | €5k | €6k | €6k | €6k | €7k | ▲ 3.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.01M | €1.97M | €1.88M | €1.82M | €1.75M | ▼ 3.5% |
| Equity10/15 | €424k | €461k | €491k | €534k | €583k | ▲ 9.1% |
| Contributions10/11 | €502k | €502k | €502k | €502k | €502k | = |
| Capital10 | €501k | €501k | €501k | €501k | €501k | = |
| Issued capital100 | €501k | €501k | €501k | €501k | €501k | = |
| Outside capital11 | €977 | €977 | €977 | €977 | €977 | = |
| Share premium1100/10 | €977 | €977 | €977 | €977 | €977 | = |
| Reserves13 | €344 | €344 | €344 | €2k | €4k | ▲ 125% |
| Non-distributable reserves130/1 | €344 | €344 | €344 | €2k | €4k | ▲ 125% |
| Legal reserve130 | €344 | €344 | €344 | €2k | €4k | ▲ 125% |
| Profit (loss) carried forward14 | €-78k | €-41k | €-12k | €30k | €76k | ▲ 152% |
| Amounts payable17/49 | €1.59M | €1.51M | €1.38M | €1.28M | €1.17M | ▼ 8.7% |
| Amounts payable after more than one year17 | €382k | €317k | €272k | €228k | €183k | ▼ 19.9% |
| Financial debts170/4 | €382k | €317k | €272k | €228k | €183k | ▼ 19.9% |
| Amounts payable within one year42/48 | €1.08M | €1.03M | €1.04M | €944k | €898k | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | €68k | €65k | €45k | €44k | €46k | ▲ 2.7% |
| Trade debts44 | - | €23 | €0 | - | €998 | - |
| Suppliers440/4 | - | €23 | €0 | - | €998 | - |
| Other amounts payable47/48 | €1.01M | €970k | €990k | €899k | €852k | ▼ 5.3% |
| Accrued charges and deferred income492/3 | €128k | €160k | €77k | €112k | €91k | ▼ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20k | €37k | €29k | €43k | €48k | ▲ 11.4% |
| + Depreciation and write-downs630 | €75k | €77k | €78k | €79k | €80k | ▲ 1.4% |
| Operating cash flow (approximation) | €95k | €114k | €107k | €122k | €129k | ▲ 5.0% |
| Investment in fixed assets (approximation) | - | €-7k | €-13k | €-11k | €-7k | ▲ 35.4% |
| Change in cash | - | €26k | €-39k | €6k | €4k | ▼ 24.9% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €48k ▲11.4%
Net result €48k, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €500kEq €534k ▲8.9%
4 profitable years in a row build equity to €534k.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €20k
Net result €20k after 2 loss-making years.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-79k
Net result drops to €-79k, the lowest in the series; recovery starts the following year.
10-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Grimbergen · 1 establishment unit since 2004
Ground area
933 m²
Building footprint
176 m²
Volume, LiDAR
839 m³
Parcel 23402E0053/00P003, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Wezelstraat 32, 1850 Grimbergen
since 20042.318.580.706
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23402E0053/00P003 | Flanders | 933 m² | 1 · 176 m² | 9.2 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500CFWGT45XTPCA02
Identification & contact
Identification
Legal formPrivate limited company
Founded09-04-2004
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.