Luminus Cities
ActiveSummary
The computed 12-month bankruptcy probability of Luminus Cities is 3.2% (moderate). The 2025 annual accounts show negative equity (-€22.7m) and a net result of -€2.7m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 2062 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth52▼-3
Track record100
Bankruptcy probability, 12 months
3.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.32 against 1.42 in 2024; short-term debt: 74.7% and cash: 4% of total assets), and equity is negative.
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Signals
Eight 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-150.2%
Return on assets
-17.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€22.7m
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 01-07-2026, 30 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
30 d early
2024
20 d late
2023
84 d late
2022
on the day
2021
37 d early
2020
23 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
Go further with this company
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Fleurus, Construction sector#4 employer in Fleurus, Construction sector
Turnover
€6.6m▼ 20.6%
2024 · €8.3m
EBIT margin
-37.3%▲ 132.7pp
2024 · -170.0%
Net result
-€2.7m▲ 80.7%
2024 · -€13.9m
Working capital
€3.6m▼ 56.6%
2024 · €8.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€36.1m▲ 12.1%€35.9m▼ 0.7%€8.9m▼ 75.3%€8.3m▼ 6.9%€6.6m▼ 20.6%
Operating result€149,442▼ 86.7%-€7.4m-€10.5m▼ 42.6%-€14.0m▼ 33.3%-€2.4m▲ 82.6%
Net result€34,571▼ 95.0%-€7.7m-€10.6m▼ 37.4%-€13.9m▼ 31.4%-€2.7m▲ 80.7%
EBIT margin0.4%▼ 3.1pp-20.6%▼ 21.0pp-118.8%▼ 98.2pp-170.0%▼ 51.2pp-37.3%▲ 132.7pp
Equity€1.1m▲ 3.1%-€6.6m-€6.1m▲ 6.3%-€20.1m▼ 227%-€22.7m▼ 13.4%
Total assets€20.4m▲ 29.8%€19.4m▼ 4.7%€26.3m▲ 35.3%€27.9m▲ 6.3%€15.1m▼ 45.8%
Debt€19.2m▲ 34.5%€21.6m▲ 12.2%€26.2m▲ 21.4%€26.9m▲ 2.5%€17.7m▼ 34.3%
Working capital€7.2m▲ 91.7%€6.1m▼ 14.1%€9.8m▲ 58.9%€8.3m▼ 15.5%€3.6m▼ 56.6%
Staff (FTE)39.2▲ 26.5%40.1▲ 2.3%39.1▼ 2.5%41.7▲ 6.6%38.8▼ 7.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.4m in 2025 against €14.0m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.1m
Fixed assets
€249,228 ▲ 4.5%
Current assets
€14.9m ▼ 46.2%
Key figures and ratios
EBITDA
-€2.3m▲
2024 · -€13.9m
Cash flow
-€2.6m▲
2024 · -€13.8m
Solvency
-150.2%▼
2024 · -71.8%
Current ratio
1.32▼
2024 · 1.42
Quick ratio
1.31▼
2024 · 1.42
Debt to equity
-0.78▲
2024 · -1.34
ROA
-17.7%▲
2024 · -49.8%
Interest coverage
-9.63▲
2024 · -443.84
Debt ≤ 1 year
€11.3m▼
2024 · €19.4m
Income taxes
€25,125▲
2024 · €4,000
Staff costs
€3.1m▼
2024 · €3.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 561 companies that looked in July 2024 the way this one looks now, 6.1% went bankrupt within 24 months and 86% are still going.
- Small
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
6.1%
went bankrupt
4.6%
stopped otherwise
86%
still going
A further 2.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.2% 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 561 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €37.6m | €36.5m | €9.1m | €13.6m | €8.4m | ▼ 38.1% |
| Turnover70 | €36.1m | €35.9m | €8.9m | €8.3m | €6.6m | ▼ 20.6% |
| Other operating income74 | €1.4m | €604,625 | €220,741 | €5.4m | €1.9m | ▼ 64.9% |
| Operating charges60/66A | €37.4m | €43.9m | €19.6m | €27.7m | €10.9m | ▼ 60.6% |
| Goods for resale, raw materials and consumables60 | €25.9m | €22.1m | €5.1m | €4.6m | €4.1m | ▼ 11.9% |
| Purchases600/8 | €25.2m | €21.9m | €5.1m | €4.6m | €4.1m | ▼ 11.9% |
| Change in stocks: decrease (increase)609 | €694,678 | €176,397 | €35,527 | €3,779 | €6,180 | ▲ 63.5% |
| Services and other goods61 | €7.9m | €10.9m | €8.6m | €4.6m | €4.5m | ▼ 1.4% |
| Remuneration, social security and pensions62 | €2.8m | €2.8m | €3.3m | €3.3m | €3.1m | ▼ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66,116 | €92,926 | €95,095 | €101,425 | €102,488 | ▲ 1.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€281,500 | €4.4m | €1.8m | €14.9m | -€885,839 | ▼ 106% |
| Other operating charges640/8 | €1.0m | €3.6m | €617,258 | €159,554 | €28,674 | ▼ 82.0% |
| Operating profit (loss)9901 | €149,442 | -€7.4m | -€10.5m | -€14.0m | -€2.4m | ▲ 82.6% |
| Financial income75/76B | - | €2,158 | €74,047 | €224,943 | €96,899 | ▼ 56.9% |
| Recurring financial income75 | - | €2,158 | €74,047 | €224,943 | €96,899 | ▼ 56.9% |
| Income from current assets751 | - | - | €74,047 | €224,943 | €96,899 | ▼ 56.9% |
| Other financial income752/9 | - | €2,158 | - | - | - | - |
| Financial charges65/66B | €65,326 | €255,028 | €139,022 | €112,315 | €308,897 | ▲ 175% |
| Recurring financial charges65 | €65,326 | €255,028 | €139,022 | €112,315 | €308,897 | ▲ 175% |
| Debt charges650 | €64,179 | €185,368 | €73,712 | €31,373 | €243,144 | ▲ 675% |
| Other financial charges652/9 | €1,148 | €69,660 | €65,310 | €80,942 | €65,753 | ▼ 18.8% |
| Profit (loss) for the period before taxes9903 | €84,116 | -€7.6m | -€10.6m | -€13.9m | -€2.7m | ▲ 80.9% |
| Income taxes67/77 | €49,545 | €71,310 | €3,781 | €4,000 | €25,125 | ▲ 528% |
| Taxes670/3 | €49,545 | €118,375 | €3,866 | €4,000 | €25,125 | ▲ 528% |
| Tax adjustments and reversals of tax provisions77 | - | €47,065 | €85 | - | - | - |
| Profit (loss) for the period9904 | €34,571 | -€7.7m | -€10.6m | -€13.9m | -€2.7m | ▲ 80.7% |
| Profit (loss) for the period to be appropriated9905 | €34,571 | -€7.7m | -€10.6m | -€13.9m | -€2.7m | ▲ 80.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20.4m | €19.4m | €26.3m | €27.9m | €15.1m | ▼ 45.8% |
| Fixed assets21/28 | €220,124 | €209,124 | €200,327 | €238,531 | €249,228 | ▲ 4.5% |
| Intangible fixed assets21 | - | €19,345 | €10,695 | €3,373 | €12,270 | ▲ 264% |
| Tangible fixed assets22/27 | €199,613 | €170,047 | €159,137 | €204,663 | €206,463 | ▲ 0.9% |
| Plant, machinery and equipment23 | €814 | €2,844 | €11,673 | €21,760 | €28,263 | ▲ 29.9% |
| Furniture and vehicles24 | €100,888 | €94,476 | €88,373 | €137,819 | €144,418 | ▲ 4.8% |
| Leasing and similar rights25 | €69,070 | €47,430 | €25,790 | €4,150 | - | - |
| Other tangible fixed assets26 | €28,841 | €25,298 | €33,301 | €40,933 | €33,782 | ▼ 17.5% |
| Financial fixed assets28 | €20,511 | €19,731 | €30,495 | €30,495 | €30,495 | = |
| Affiliated companies280/1 | €15,500 | €15,500 | €15,500 | €15,500 | €15,500 | = |
| Participating interests280 | €15,500 | €15,500 | €15,500 | €15,500 | €15,500 | = |
| Other financial fixed assets284/8 | €5,011 | €4,231 | €14,995 | €14,995 | €14,995 | = |
| Amounts receivable and cash guarantees285/8 | €5,011 | €4,231 | €14,995 | €14,995 | €14,995 | = |
| Current assets29/58 | €20.2m | €19.2m | €26.1m | €27.7m | €14.9m | ▼ 46.2% |
| Stocks and contracts in progress3 | €263,346 | €86,949 | €51,422 | €47,642 | €41,462 | ▼ 13.0% |
| Stocks30/36 | €263,346 | €86,949 | €51,422 | €47,642 | €41,462 | ▼ 13.0% |
| Goods purchased for resale34 | €263,346 | €86,949 | €51,422 | €47,642 | €41,462 | ▼ 13.0% |
| Amounts receivable within one year40/41 | €13.1m | €12.5m | €23.6m | €26.3m | €13.8m | ▼ 47.4% |
| Trade receivables40 | €12.5m | €9.2m | €14.7m | €17.6m | €10.9m | ▼ 37.7% |
| Other amounts receivable41 | €602,688 | €3.3m | €8.9m | €8.7m | €2.9m | ▼ 67.0% |
| Cash at bank and in hand54/58 | €6.8m | €5.9m | €2.2m | €715,498 | €602,045 | ▼ 15.9% |
| Deferred charges and accrued income490/1 | - | €764,807 | €217,828 | €673,089 | €437,646 | ▼ 35.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20.4m | €19.4m | €26.3m | €27.9m | €15.1m | ▼ 45.8% |
| Equity10/15 | €1.1m | -€6.6m | -€6.1m | -€20.1m | -€22.7m | ▼ 13.4% |
| Contributions10/11 | €61,500 | €61,500 | €11.1m | €11.1m | €11.1m | = |
| Capital10 | €61,500 | €61,500 | €11.1m | €11.1m | €11.1m | = |
| Issued capital100 | €61,500 | €61,500 | €11.1m | €11.1m | €11.1m | = |
| Reserves13 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | €1.1m | -€6.6m | -€17.2m | -€31.1m | -€33.8m | ▼ 8.6% |
| Provisions and deferred taxes16 | - | €4.4m | €6.2m | €21.1m | €20.2m | ▼ 4.2% |
| Provisions for liabilities and charges160/5 | - | €4.4m | €6.2m | €21.1m | €20.2m | ▼ 4.2% |
| Other liabilities and charges164/5 | - | €4.4m | €6.2m | €21.1m | €20.2m | ▼ 4.2% |
| Amounts payable17/49 | €19.2m | €21.6m | €26.2m | €26.9m | €17.7m | ▼ 34.3% |
| Amounts payable after more than one year17 | €45,736 | €24,577 | €3,246 | - | - | - |
| Financial debts170/4 | €45,736 | €24,577 | €3,246 | - | - | - |
| Leasing and similar obligations172 | €45,736 | €24,577 | €3,246 | - | - | - |
| Amounts payable within one year42/48 | €13.0m | €13.1m | €16.3m | €19.4m | €11.3m | ▼ 41.8% |
| Current portion of amounts payable after more than one year42 | €20,989 | €21,159 | €21,331 | €3,246 | €3,246 | = |
| Financial debts43 | - | - | - | €3.0m | €3.0m | = |
| Other loans439 | - | - | - | €3.0m | €3.0m | = |
| Trade debts44 | €12.5m | €12.8m | €16.0m | €16.1m | €7.9m | ▼ 51.2% |
| Suppliers440/4 | €12.5m | €12.8m | €16.0m | €16.1m | €7.9m | ▼ 51.2% |
| Taxes, remuneration and social security45 | €490,842 | €242,305 | €240,757 | €224,126 | €329,762 | ▲ 47.1% |
| Taxes450/3 | €265,546 | - | €444 | - | €89,190 | - |
| Remuneration and social security454/9 | €225,296 | €242,305 | €240,314 | €224,126 | €240,573 | ▲ 7.3% |
| Other amounts payable47/48 | - | - | - | €59,568 | €109,529 | ▲ 83.9% |
| Accrued charges and deferred income492/3 | €6.2m | €8.5m | €9.9m | €7.4m | €6.3m | ▼ 14.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,571 | -€7.7m | -€10.6m | -€13.9m | -€2.7m | ▲ 80.7% |
| + Depreciation and write-downs630 | €66,116 | €92,926 | €95,095 | €101,425 | €102,488 | ▲ 1.0% |
| Operating cash flow (approximation) | €100,687 | -€7.6m | -€10.5m | -€13.8m | -€2.6m | ▲ 81.3% |
| Investment in fixed assets (approximation) | - | -€81,926 | -€86,298 | -€139,629 | -€113,186 | ▲ 18.9% |
| Change in cash | - | -€937,757 | -€3.7m | -€1.5m | -€113,453 | ▲ 92.5% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet -€13.9m
Net result drops to -€13.9m, the lowest in the series; recovery starts the following year.
23-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 84 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2019net €694,696 ▲93.5%
Operating result €1.1m, net result €694,696, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲165%
2 profitable years in a row build equity to €1.1m.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Fleurus · 2 establishment units since 2019
Ground area
7,629 m²
Building footprint
1,734 m²
Volume, LiDAR
11,636 m³
2 parcels, Flanders, Wallonia · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Luminus Cities
since 20192.290.339.749
Luminus Cities - dépôt
since 20242.365.200.389
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52332B0459/00G003 | Wallonia | 7,436 m² | 1 · 1,541 m² | 12.0 m · 2 fl. |
| 11602E0023/00N002indicative | Flanders | 193 m² | 1 · 193 m² | 11.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
ELECTRICITE DE FRANCE
66 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
- EDF BELGIUM
- Luminus
- Luminus Cities
Highest known parent: EDF BELGIUM. The sources do not say who stands above it.
Owners 1
- LuminusparentSourceaccounts Luminus 2025100%
Holdings 1
- Equity €597,730Result €178,34625%
According to the 2021 annual accounts of Luminus Cities and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Recognised contractor
6 categoriesLuminus Cities SA43405
Legal Entity Identifier
875500INSLL4200B1V11
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 4,259 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
Founded14-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43212Electrical installation work in industrial facilities
62200Computer consultancy and computer facilities management
71121Engineering and related technical consultancy, excluding land surveyors
Contact
E-mail
info@luminuscities.be
Phone
+3271496000
E-invoicing
Reachable via Peppol
Peppol ID
0208:0715825752
Also
9925:BE0715825752
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.