LUCAN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 11-05-2026 PDF all 48 filings
Turnover
€1.1m▲ 4.9%
2024 · €1.0m
EBIT margin
9.1%▲ 4.8pp
2024 · 4.3%
Net result
€76,813▲ 126%
2024 · €33,956
Working capital
€878,337▲ 15.9%
2024 · €758,147
In the rankings
#7 oldest company in Wommelgem, Construction sector#8 company by equity in Wommelgem, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€1.1m
▲ 4.9%
2025
20182025
Operating result
€99,721
▲ 122%
2025
20182025
Net result
€76,813
▲ 126%
2025
middle half of the sector
20182025
EBIT margin
9.1%
▲ 4.8pp
2025
20182025
Equity
€1.2m
▲ 6.9%
2025
highest quarter of the sector
20182025
Total assets
€1.2m
▲ 5.7%
2025
middle half of the sector
20182025
Debt
€49,666
▼ 17.1%
2025
20182025
Working capital
€878,337
▲ 15.9%
2025
highest quarter of the sector
20182025
Solvency
96.0%
▲ 1.1pp
2025
highest quarter of the sector
20182025
Current ratio
18.69
▲ 5.03
2025
highest quarter of the sector
20182025
Return on assets (ROA)
6.2%
▲ 3.3pp
2025
middle half of the sector
20182025
Staff (FTE)
10.9
▼ 7.6%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.2m€1.1m▼ 9.6%€1.0m▼ 6.6%€1.1m▲ 4.9%
Operating result€0.3m-€0.5m▲ 59.3%€0.2m▼ 53.2%€0.6m▲ 151%€0.3m▼ 44.3%€0.2m▼ 51.5%€0.04m▼ 70.4%€0.1m▲ 122%
Net result€0.2m-€0.3m▲ 61.4%€0.2mabove the sector's middle half▼ 50.2%€0.4mabove the sector's middle half▲ 162%€0.2mabove the sector's middle half▼ 45.0%€0.1mwithin the sector's middle half▼ 52.3%€0.03mwithin the sector's middle half▼ 69.4%€0.08mwithin the sector's middle half▲ 126%
EBIT margin25.4%13.7%▼ 11.8pp4.3%▼ 9.3pp9.1%▲ 4.8pp
Equity€1.3m-€1.6m▲ 25.9%€0.5mwithin the sector's middle half▼ 65.1%€0.7mabove the sector's middle half▲ 33.1%€1.0mabove the sector's middle half▲ 31.8%€1.1mabove the sector's middle half▲ 11.5%€1.1mabove the sector's middle half▲ 3.2%€1.2mabove the sector's middle half▲ 6.9%
Total assets€1.6m-€1.9m▲ 15.5%€1.9mabove the sector's middle half▲ 1.6%€0.8mwithin the sector's middle half▼ 57.1%€1.0mwithin the sector's middle half▲ 24.8%€1.1mwithin the sector's middle half▲ 12.7%€1.2mwithin the sector's middle half▲ 2.6%€1.2mwithin the sector's middle half▲ 5.7%
Debt€0.4m-€0.3m▼ 20.6%€1.3m▲ 370%€0.08m▼ 94.2%€0.05m▼ 40.5%€0.06m▲ 38.2%€0.06m▼ 6.2%€0.05m▼ 17.1%
Working capital€0.7m-€1.0m▲ 39.2%-€0.09mbelow the sector's middle half€0.3mwithin the sector's middle half€0.6mabove the sector's middle half▲ 101%€0.7mabove the sector's middle half▲ 14.5%€0.8mabove the sector's middle half▲ 12.5%€0.9mabove the sector's middle half▲ 15.9%
Solvency77.7%-84.7%▲ 7.0pp29.1%within the sector's middle half▼ 55.6pp90.4%above the sector's middle half▲ 61.3pp95.4%above the sector's middle half▲ 5.0pp94.4%above the sector's middle half▼ 1.0pp94.9%above the sector's middle half▲ 0.5pp96.0%above the sector's middle half▲ 1.1pp
Current ratio5.43-6.51▲ 1.090.93below the sector's middle half▼ 5.584.78above the sector's middle half▲ 3.8513.73above the sector's middle half▲ 8.9511.55above the sector's middle half▼ 2.1813.65above the sector's middle half▲ 2.1118.69above the sector's middle half▲ 5.03
Return on assets (ROA)12.5%-17.4%▲ 4.9pp8.5%within the sector's middle half▼ 8.9pp52.2%above the sector's middle half▲ 43.7pp23.0%above the sector's middle half▼ 29.2pp9.7%within the sector's middle half▼ 13.3pp2.9%within the sector's middle half▼ 6.8pp6.2%within the sector's middle half▲ 3.3pp
Staff (FTE)13.2-15.8▲ 19.7%15.2above the sector's middle half▼ 3.8%13.9above the sector's middle half▼ 8.6%10.9above the sector's middle half▼ 21.6%12.9above the sector's middle half▲ 18.3%11.8above the sector's middle half▼ 8.5%10.9above the sector's middle half▼ 7.6%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 122% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€307,870 ▼ 12.3%
Current assets
€928,002 ▲ 13.4%
Equity and liabilities €1.2m
Equity
€1.2m ▲ 6.9%
Debt
€49,666 ▼ 17.1%
Debt's share of the balance-sheet total falls from 5.1% to 4.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€147,341▲
2024 · €96,038
Cash flow
€124,433▲
2024 · €85,018
Quick ratio
18.53▲
2024 · 13.30
Debt to equity
0.04▼
2024 · 0.05
ROE
6.5%▲
2024 · 3.1%
Interest coverage
89.60▲
2024 · 59.74
Debt ≤ 1 year
€49,666▼
2024 · €59,927
Income taxes
€28,381▲
2024 · €13,855
Customer credit
116 days▲
2024 · 102 days
Supplier credit
34 days▼
2024 · 42 days
Staff costs
€724,656▼
2024 · €734,171
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 | 12 | 12 | 13 | 10 | 11 |
| full-time | 11 | 10 | 13 | 10 | 10 |
| part-time | 1 | 2 | - | - | 1 |
| in full-time equivalents | 11.6 | 11.4 | 13 | 10 | 10.8 |
| Average over the year, in full-time equivalents | 13.9 | 10.9 | 12.9 | 11.8 | 10.9 |
| On a permanent contract | 10 | 12 | 13 | 10 | 11 |
| Joined | 0 | 1 | 1 | 1 | 2 |
| Left | 6 | 1 | 0 | 4 | 1 |
| Training hours | - | 120 | 56 | 72 | 75 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €60,757 | €8,187 | €92,394 | €4,295 | €4,300 |
| Depreciation and write-downs of the year | €55,740 | €64,730 | €66,093 | €51,062 | €47,620 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €383 awarded · €383 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €1.2m | €1.1m | €1.0m | €1.1m | ▲ 4.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 8.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.6m | €0.7m | €0.7m | €0.7m | ▼ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.09m | €0.07m | €0.06m | €0.06m | €0.07m | €0.05m | €0.05m | ▼ 6.7% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.009m | €0.01m | €0.01m | €0.009m | ▼ 19.6% |
| Gross operating margin9900 | €1.1m | €1.5m | €1.0m | €1.4m | €1.0m | €0.9m | €0.8m | €0.9m | ▲ 4.7% |
| Operating profit (loss)9901 | €0.3m | €0.5m | €0.2m | €0.6m | €0.3m | €0.2m | €0.04m | €0.1m | ▲ 122% |
| Financial income75/76B | - | - | - | €11 | €26 | €0 | €0.004m | €0.007m | ▲ 60.3% |
| Recurring financial income75 | €169 | €71 | €129 | €11 | €26 | €0 | €0.004m | €0.007m | ▲ 60.3% |
| Financial charges65/66B | - | - | - | €0.003m | €0.002m | €0.002m | €0.002m | €0.002m | ▲ 2.3% |
| Recurring financial charges65 | €0.008m | €0.01m | €0.007m | €0.003m | €0.002m | €0.002m | €0.002m | €0.002m | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.5m | €0.2m | €0.6m | €0.3m | €0.2m | €0.05m | €0.1m | ▲ 120% |
| Income taxes67/77 | €0.09m | €0.1m | €0.06m | €0.1m | €0.08m | €0.04m | €0.01m | €0.03m | ▲ 105% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.2m | €0.4m | €0.2m | €0.1m | €0.03m | €0.08m | ▲ 126% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.2m | €0.4m | €0.2m | €0.1m | €0.03m | €0.08m | ▲ 126% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.9m | €1.9m | €0.8m | €1.0m | €1.1m | €1.2m | €1.2m | ▲ 5.7% |
| Fixed assets21/28 | €0.8m | €0.7m | €0.7m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 12.3% |
| Intangible fixed assets21 | €0.001m | €0.001m | €0.001m | €0.001m | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 12.3% |
| Land and buildings22 | - | - | - | €0.04m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 9.4% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.02m | €0.01m | €0.007m | €0.007m | ▲ 2.6% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.02m | €0.08m | €0.06m | €0.05m | ▼ 26.5% |
| Other tangible fixed assets26 | - | - | - | €0.3m | - | - | - | - | - |
| Financial fixed assets28 | €0.007m | €0.007m | €0.007m | €0.007m | €0.001m | - | - | - | - |
| Current assets29/58 | €0.9m | €1.1m | €1.2m | €0.4m | €0.6m | €0.7m | €0.8m | €0.9m | ▲ 13.4% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €0.02m | €0.008m | ▼ 63.3% |
| Contracts in progress37 | - | - | - | - | - | - | €0.02m | €0.008m | ▼ 63.3% |
| Amounts receivable within one year40/41 | €0.09m | €0.2m | €0.07m | €0.1m | €0.1m | €0.5m | €0.5m | €0.8m | ▲ 40.9% |
| Trade receivables40 | - | - | - | €0.09m | €0.09m | €0.4m | €0.3m | €0.3m | ▲ 19.4% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.05m | €0.04m | €0.2m | €0.4m | ▲ 66.1% |
| Cash at bank and in hand54/58 | €0.8m | €1.0m | €1.1m | €0.2m | €0.5m | €0.3m | €0.3m | €0.2m | ▼ 36.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.001m | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.9m | €1.9m | €0.8m | €1.0m | €1.1m | €1.2m | €1.2m | ▲ 5.7% |
| Equity10/15 | €1.3m | €1.6m | €0.5m | €0.7m | €1.0m | €1.1m | €1.1m | €1.2m | ▲ 6.9% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Reserves13 | €1.0m | €1.3m | €0.3m | €0.7m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.7m | - | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | - | €1.0m | €1.1m | €1.1m | €1.2m | ▲ 6.9% |
| Amounts payable17/49 | €0.4m | €0.3m | €1.3m | €0.08m | €0.05m | €0.06m | €0.06m | €0.05m | ▼ 17.1% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.05m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €1.3m | €0.08m | €0.05m | €0.06m | €0.06m | €0.05m | ▼ 17.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | - | - | - | - | - |
| Trade debts44 | €0.02m | €0.02m | €0.009m | €0.01m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 24.9% |
| Suppliers440/4 | - | - | - | €0.01m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 24.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.04m | €0.03m | €0.03m | ▼ 7.8% |
| Taxes450/3 | - | - | - | €0.002m | - | €49 | €334 | - | - |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.03m | €0.04m | €0.03m | €0.03m | ▼ 6.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €200,576 | €323,671 | €161,039 | €422,668 | €232,428 | €110,982 | €33,956 | €76,813 | ▲ 126% |
| + Depreciation and write-downs630 | €76,637 | €85,460 | €72,430 | €55,740 | €64,730 | €66,093 | €51,062 | €47,620 | ▼ 6.7% |
| Operating cash flow (approximation) | €277,213 | €409,131 | €233,469 | €478,408 | €297,157 | €177,075 | €85,018 | €124,433 | ▲ 46.4% |
| Investment in fixed assets (approximation) | - | -€43,362 | -€45,215 | €190,553 | -€1,937 | -€91,844 | -€708 | -€4,243 | ▼ 499% |
| Change in cash | - | €202,665 | €164,710 | -€877,476 | €249,191 | -€230,520 | -€4,263 | -€95,968 | ▼ 2,151% |
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, 20,136 companies had the same profile as LUCAN has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of LUCAN 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 20,136 companies, not a prediction for LUCAN. 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 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-05-2026 | 2026-00111294 | |
| 31-12-2024 | abbreviated format | 23-04-2025 | 2025-00077934 | |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00202841 | |
| 31-12-2022 | abbreviated format | 25-05-2023 | 2023-00100815 | |
| 31-12-2021 | abbreviated format | 10-06-2022 | 2022-20059811 | |
| 31-12-2020 | abbreviated format | 04-05-2021 | 2021-13100506 | |
| 31-12-2019 | abbreviated format | 12-06-2020 | 2020-17000332 | |
| 31-12-2018 | abbreviated format | 25-07-2019 | 2019-38300242 | |
| 31-12-2017 | abbreviated format | 02-07-2018 | 2018-27800092 | |
| 31-12-2016 | abbreviated format | 11-07-2017 | 2017-30000166 |