Result
From profit to loss in 2025, after a profit of €2.3m in 2024.
From profit to loss in 2025, after a profit of €2.3m in 2024.
Of this, €21.5m falls due within a year.
The last five annual accounts were filed 24 to 49 days before the end of the period.
Heads a group.
Lower net result than 95% of companies in head offices and management consultancy. Sector median €37,500 · 10,856 companies.
The dashed line is the sector median: 0.1% across 802 companies (NACE 70, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, medium-sized). It does better than 15% of them on solvency, 13% on liquidity, 7% on profitability and 16% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 137 companies had the same profile as LUCIMO has now. Each dot is one company, two years later.
The bankruptcy probability of LUCIMO itself is lower: < 0.1% within 12 months. It rests on far more data about LUCIMO than the profile alone.
The method was tested on the 497,447 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 137 companies, not a prediction for LUCIMO. 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.
Liquidity is tight, with a current ratio of 1.22 (1.43 in 2024), below the usual 1.5. Short-term debt is 52.6% and cash 3.2% of total assets. 83.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 47 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| LUCIMO Ixelles | €41.0m | -€117,589 | 16.7% | 0 |
| PNDB Sint-Gillis (bij-Brussel) | €55.8m | -€102,832 | 99.5% | 0 |
| PGHB Sint-Gillis (bij-Brussel) | €57.0m | -€112,718 | 99.4% | 0 |
| RE-tail Return Partners II Merchtem | €39.4m | -€114,675 | 27.6% | 0 |
| ARANVISE Tournai | €30.1m | -€44,177 | 99.1% | 0 |
| CMG INVEST Boortmeerbeek | €36.7m | -€308,426 | 64.8% | 0.5 |
| IM'HO Profondeville | €32.5m | -€40,903 | 99.8% | 0 |
These companies have the same main activity as LUCIMO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €30m and €57m, founded between 2012 and 2019.
LUCIMO files the abbreviated format. That format states no turnover. The gross margin fell from -€105,456 in 2016 to -€117,589 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 20% of 10,856 companies in 2025.
Higher than 44% of 10,478 companies in 2025.
Higher than 17% of 10,725 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
41.0m | 35.7m | 29.6m | 29.0m | 22.7m | 18.4m | 22.0m | 20.5m | 23.7m | 30.0m | |
20 |
- | - | - | - | - | - | - | 0 | - | - | |
21/28 |
14.7m | 13.1m | 8.6m | 8.6m | 5.5m | 4.7m | 2.3m | 0 | 3,500 | 3,500 | |
21 |
- | - | - | - | - | - | - | 0 | - | - | |
22/27 |
5,836 | 10,990 | 5,174 | 2,027 | 589 | 777 | - | 0 | - | - | |
22 |
- | - | - | - | - | - | - | 0 | - | - | |
23 |
- | - | - | - | - | - | - | 0 | - | - | |
24 |
1,999 | 6,700 | 5,174 | 2,027 | 589 | 777 | - | 0 | - | - | |
26 |
3,837 | 4,290 | - | - | - | - | - | 0 | - | - | |
27 |
- | - | - | - | - | - | - | 0 | - | - | |
28 |
14.7m | 13.1m | 8.6m | 8.6m | 5.5m | 4.7m | 2.3m | 0 | 3,500 | 3,500 | |
29/58 |
26.3m | 22.5m | 21.0m | 20.4m | 17.2m | 13.7m | 19.7m | 20.5m | 23.7m | 30.0m | |
29 |
2.7m | 3.2m | 3.1m | 3.1m | 3.0m | 1.6m | 1.6m | 0 | - | - | |
290 |
0 | 3.2m | 3.1m | 3.1m | - | - | - | 0 | - | - | |
291 |
2.7m | - | 0 | - | 3.0m | 1.6m | 1.6m | 0 | - | - | |
3 |
- | - | - | - | - | - | - | 0 | - | - | |
30/36 |
- | - | - | - | - | - | - | 0 | - | - | |
37 |
- | - | - | - | - | - | - | 0 | - | - | |
40/41 |
7.2m | 3.8m | 2.4m | 1.2m | 253,269 | 97,183 | 183,656 | 130,154 | 72,263 | 14,350 | |
40 |
5,857 | 16,951 | 263,676 | 60,657 | 3,227 | 29,760 | 0 | 680 | 680 | 4,720 | |
41 |
7.2m | 3.8m | 2.1m | 1.1m | 250,043 | 67,423 | 183,656 | 129,474 | 71,583 | 9,630 | |
50/53 |
14.6m | 14.3m | 14.8m | 13.2m | 12.9m | 11.4m | 12.5m | 19.7m | 17.1m | 21.0m | |
54/58 |
1.3m | 928,856 | 250,001 | 2.7m | 954,903 | 529,039 | 5.4m | 656,646 | 6.5m | 9.0m | |
490/1 |
471,295 | 338,824 | 348,660 | 210,872 | 95,509 | 67,070 | 22,294 | 0 | - | 4,414 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
41.0m | 35.7m | 29.6m | 29.0m | 22.7m | 18.4m | 22.0m | 20.5m | 23.7m | 30.0m | |
10/15 |
6.9m | 7.3m | 5.2m | 4.6m | 3.2m | 1.2m | 4.9m | 3.4m | 5.8m | 4.0m | |
10/11 |
1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | |
100 |
- | - | - | - | - | - | 1.0m | 1.0m | 1.0m | 1.0m | |
101 |
- | - | - | - | - | - | - | 0 | - | - | |
11 |
- | - | - | - | - | - | - | 0 | - | - | |
1100/10 |
- | - | - | - | - | - | - | 0 | - | - | |
12 |
- | - | - | - | - | - | - | 0 | - | - | |
13 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 790,170 | 790,170 | 790,170 | 790,170 | |
130/1 |
- | - | 0 | 100,000 | 100,000 | 100,000 | - | 0 | - | - | |
130 |
- | - | - | - | - | - | 100,000 | 100,000 | 100,000 | 100,000 | |
1311 |
- | - | 0 | 100,000 | 100,000 | 100,000 | - | - | - | - | |
1312 |
- | - | - | - | - | - | - | 0 | - | - | |
1319 |
- | - | - | - | - | - | - | 0 | - | - | |
132 |
- | - | - | - | - | - | - | 0 | - | 690,170 | |
133 |
100,000 | 100,000 | 100,000 | - | - | 0 | 690,170 | 690,170 | 690,170 | - | |
14 |
5.8m | 6.2m | 4.1m | 3.5m | 2.1m | 148,987 | 3.1m | 1.6m | 4.0m | 2.2m | |
15 |
- | - | - | - | - | - | - | 0 | - | - | |
19 |
- | - | - | - | - | - | - | 0 | - | - | |
16 |
- | - | - | - | - | - | - | 0 | - | - | |
160/5 |
- | - | - | - | - | - | - | 0 | - | - | |
160 |
- | - | - | - | - | - | - | 0 | - | - | |
161 |
- | - | - | - | - | - | - | 0 | - | - | |
162 |
- | - | - | - | - | - | - | 0 | - | - | |
163 |
- | - | - | - | - | - | - | 0 | - | - | |
164/5 |
- | - | - | - | - | - | - | 0 | - | - | |
168 |
- | - | - | - | - | - | - | 0 | - | - | |
17/49 |
34.1m | 28.3m | 24.4m | 24.4m | 19.6m | 17.2m | 17.1m | 17.1m | 17.9m | 26.0m | |
17 |
12.6m | 12.6m | 8.6m | 8.6m | 7.0m | 7.0m | - | 0 | - | - | |
170/4 |
1.6m | 1.6m | 1.6m | 1.6m | - | - | - | 0 | - | - | |
175 |
- | - | - | - | - | - | - | 0 | - | - | |
176 |
- | - | - | - | - | - | - | 0 | - | - | |
178/9 |
11.0m | 11.0m | 7.0m | 7.0m | 7.0m | 7.0m | - | 0 | - | - | |
42/48 |
21.5m | 15.8m | 15.8m | 15.9m | 12.6m | 10.1m | 17.1m | 17.1m | 17.9m | 26.0m | |
42 |
- | - | - | - | - | - | - | 0 | - | - | |
43 |
- | - | - | - | - | - | - | 0 | - | 2,629 | |
430/8 |
- | - | - | - | - | - | - | 0 | - | 2,629 | |
439 |
- | - | - | - | - | - | - | 0 | - | - | |
44 |
15,131 | 12,635 | 8,865 | 17,232 | 25,075 | 28,216 | 7,759 | 3,600 | 18,077 | 34,735 | |
440/4 |
15,131 | 12,635 | 8,865 | 17,232 | 25,075 | 28,216 | 7,759 | 3,600 | 18,077 | 34,735 | |
441 |
- | - | - | - | - | - | - | 0 | - | - | |
46 |
- | - | - | - | - | - | - | 0 | - | - | |
45 |
71,146 | 39,441 | 33,172 | 27,927 | 23,257 | 43,114 | 9,175 | 0 | - | 14,192 | |
450/3 |
46,116 | 8,287 | 8,710 | 6,129 | 5,935 | 22,457 | - | 0 | - | 9,692 | |
454/9 |
25,030 | 31,154 | 24,462 | 21,798 | 17,322 | 20,657 | 9,175 | 0 | - | 4,500 | |
47/48 |
21.5m | 15.7m | 15.8m | 15.8m | 12.5m | 10.1m | 17.1m | 17.1m | 17.9m | 26.0m | |
492/3 |
12,677 | 5,914 | 31,048 | 6,079 | 0 | 3,490 | 3,929 | 0 | - | - | |
| Income statement | |||||||||||
9900 |
-117,589 | 102,520 | -30,767 | 61,950 | -95,027 | 78,656 | -63,602 | -20,237 | -70,292 | -105,456 | |
60/61 |
- | - | - | - | - | - | - | - | 70,972 | 105,456 | |
62 |
210,284 | 192,997 | 178,811 | 157,840 | 143,699 | 143,931 | 86,157 | 0 | - | - | |
630 |
2,548 | 2,547 | 1,131 | 366 | 188 | 164 | - | 0 | - | - | |
631/4 |
- | - | - | - | - | - | - | 0 | - | - | |
635/8 |
- | - | - | - | - | - | - | 0 | - | - | |
640/8 |
21,949 | 19,859 | 22,137 | 20,561 | 20,557 | 1,138 | 993 | 201 | - | - | |
649 |
- | - | - | - | - | - | - | 0 | - | - | |
66A |
610,218 | - | - | - | - | - | - | 0 | - | - | |
9901 |
-962,588 | -112,884 | -232,846 | -116,816 | -259,472 | -66,577 | -150,752 | -20,439 | -70,292 | -105,456 | |
75/76B |
1.2m | 2.0m | 964,903 | 1.4m | 646,932 | 839,992 | 1.7m | 1.1m | 3.8m | 1.1m | |
75 |
1.2m | 2.0m | 964,903 | 1.4m | 637,932 | 839,992 | 1.7m | 1.1m | 3.8m | 1.1m | |
76B |
- | - | - | 0 | 9,000 | - | - | 0 | - | - | |
65/66B |
651,363 | -494,032 | -252,281 | -231,073 | -1.5m | 4.4m | -107,993 | 2.6m | 1.4m | -1.9m | |
65 |
551,363 | -494,032 | -252,281 | -231,073 | -1.5m | 4.4m | -107,993 | 2.6m | 1.4m | -1.9m | |
66B |
100,000 | - | - | - | - | - | - | 0 | - | - | |
9903 |
-430,781 | 2.3m | 984,338 | 1.5m | 1.9m | -3.6m | 1.6m | -1.5m | 2.3m | 2.9m | |
67/77 |
53,346 | 43,813 | 69,643 | 84,790 | -26,522 | -410 | 108,581 | 126,537 | 142,463 | 239,663 | |
9904 |
-484,127 | 2.3m | 914,695 | 1.4m | 1.9m | -3.6m | 1.5m | -1.6m | 2.2m | 2.7m | |
789 |
- | - | - | - | - | - | - | 0 | - | - | |
689 |
- | - | - | - | - | - | - | 0 | - | 690,170 | |
9905 |
-484,127 | 2.3m | 914,695 | 1.4m | 1.9m | -3.6m | 1.5m | -1.6m | 2.2m | 2.0m | |
| Appropriation of the result | |||||||||||
9906 |
5.8m | 6.4m | 4.4m | 3.5m | 2.1m | -493,184 | 3.2m | 1.9m | 4.4m | 2.5m | |
14P |
6.2m | 4.1m | 3.5m | 2.1m | 148,987 | - | - | - | - | - | |
791/2 |
- | - | - | - | 0 | 690,170 | - | 0 | - | - | |
691/2 |
- | - | - | - | - | - | - | 0 | - | 63,122 | |
691 |
- | - | - | - | - | - | - | 0 | - | - | |
6920 |
- | - | - | - | - | - | - | 0 | - | 63,122 | |
6921 |
- | - | - | - | - | - | - | 0 | - | - | |
694/7 |
0 | 150,000 | 300,000 | - | 0 | 48,000 | 48,000 | 248,000 | 348,000 | 200,000 | |
694 |
0 | 150,000 | 300,000 | - | - | - | 0 | 200,000 | 300,000 | 200,000 | |
695 |
- | - | - | - | 0 | 48,000 | 48,000 | 48,000 | 48,000 | - | |
696 |
- | - | - | - | - | - | - | 0 | - | - | |
| Social balance sheet | |||||||||||
9087 |
0 | 1 | 0 | 1 | 1 | 1 | 0.7 | - | - | - | |
Hours worked1013 |
- | 1,702 | - | 1,636 | 1,648 | 1,626 | 1,032 | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 25 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 12-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 12-06-2026 | 2026-00163788 | |
| 31-12-2024 | full format | 07-07-2025 | 2025-00242738 | |
| 31-12-2023 | full format | 12-06-2024 | 2024-00128821 | |
| 31-12-2022 | full format | 20-06-2023 | 2023-00143085 | |
| 31-12-2021 | full format | 29-06-2022 | 2022-20111687 | |
| 31-12-2020 | full format | 04-06-2021 | 2021-17000476 | |
| 31-12-2019 | full format | 15-05-2020 | 2020-12100423 | |
| 31-12-2018 | full format | 22-05-2019 | 2019-14500313 | |
| 31-12-2017 | full format | 08-06-2018 | 2018-16500449 | |
| 31-12-2016 | micro format | 29-06-2017 | 2017-22800138 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -960,040 | -110,336 | -231,715 | -116,450 | -259,284 | -66,413 | - | -20,439 | - | - | ||
| -481,579 | 2.3m | 915,825 | 1.4m | 1.9m | -3.6m | - | -1.6m | - | - | ||
| 1.7m | 4.5m | 4,278 | 3.1m | 809,291 | 2.4m | 2.3m | -3,500 | - | 3,500 | ||
| 394,990 | 678,854 | -2.5m | 1.8m | 425,863 | -4.8m | 4.7m | -5.9m | -2.4m | - | ||
| 4.7m | 6.8m | 5.1m | 4.6m | 4.7m | 3.6m | 2.6m | 3.4m | 5.8m | 4.0m | ||
| 16.7% | 20.6% | 17.5% | 15.8% | 13.9% | 6.8% | 22.3% | 16.7% | 24.6% | 13.3% | ||
| 1.22 | 1.43 | 1.33 | 1.29 | 1.37 | 1.35 | 1.15 | 1.20 | 1.33 | 1.15 | ||
| 4.98 | 3.86 | 4.70 | 5.34 | 6.19 | 13.73 | 3.48 | 4.98 | 3.07 | 6.52 | ||
| -7.1% | 31.4% | 17.6% | 30.8% | 60.5% | -289.5% | 31.2% | -48.0% | 37.4% | 66.5% | ||
| -1.2% | 6.5% | 3.1% | 4.9% | 8.4% | -19.7% | 7.0% | -8.0% | 9.2% | 8.8% | ||
| -1.74 | 0.22 | 0.92 | 0.50 | 0.17 | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | 93 days | 120 days |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 |
| 1 | 1 | 1 | |
| On a permanent contract | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,135 | €8,363 | €4,277 | €1,804 | - |
| Financial fixed assets | €1.7m | €4.5m | €1 | €3.1m | €809,291 |
| €2,548 | €2,547 | €1,131 | €366 | €188 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €962,588, larger than the loss of €112,884 in 2024. It is the lowest result since 2016.
Debt's share of the balance-sheet total rises from 79.4% to 83.3%. Equity is lower and debt is higher.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| HOUGOU
registered office since 23-05-2011 · founded in 2011 · accounts filed late |
total assets €413.9m (2024) 0836.469.897 |
| COHABS GROUP
registered office since 30-12-2019 · founded in 2019 |
total assets €411.5m (2025) 0740.596.186 |
| HOUGOU FINANCE
registered office since 04-01-2016 · founded in 2016 · group HOUGOU · accounts filed late |
total assets €285.7m (2024) 0645.521.736 |
| Alphastone
registered office since 21-05-2015 · founded in 2015 |
total assets €34.1m (2026) 0630.751.705 |
| MARNIX 21-22
registered office since 04-04-2017 · founded in 2017 |
total assets €27.0m (2025) 0673.816.339 |
| HEBIOSO
registered office since 28-03-2014 · founded in 2014 · negative equity (2025) · group HOUGOU |
total assets €25.0m (2025) 0548.998.026 |
| EUROPEAN CENTER FOR ELECTORAL SUPPORT/CENTRE EUROPEEN D’APPUI ELECTORAL/CENTRO EUROPEO DI ASSISTENZA ELETTORALE
registered office since 17-10-2012 · founded in 2010 · accounts filed late |
2.8 FTE (2024) 0829.998.514 |
| HJO Real Estate
registered office since 11-06-2019 · founded in 2019 · negative equity (2025) |
3 FTE (2025) 0727.904.331 |
| LOUISE 342 ET 344
registered office since 01-02-2013 · founded in 2013 · group HOUGOU |
total assets €13.0m (2025) 0502.972.615 |
| LASTLINK PROPERTIES
registered office since 29-04-2022 · founded in 2022 |
total assets €11.2m (2025) 0785.553.213 |
Source for every holding own accounts 2025
| Name | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| A.I.M. | 100% | ||||||
| ADVANCE BUILDING | 100% | ||||||
| LE CLOS DE L'ABBAYE | 100% | ||||||
| RAMNIX | 100% | ||||||
| Ruwet Immobilier | 100% | ||||||
| COBEVRI | 100% | ||||||
Source: list of holdings in its own accounts
The network starts from the directors of LUCIMO. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Louizalaan 222 registered office 1050 Ixelles 64210 Activities of holding companies | 05-10-2016 | 2.256.986.595 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21807G0121/00F008 | 1,034 m² | 1 · 815 m² | 35.9 m · 9 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
If something looks wrong or is missing, please tell us.