Lupa
ActiveSummary
Lupa has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €180,742 and a net result of -€130,138. Equity is growing by ~18% per year across the filed fiscal years. Its solvency ranks better than 24% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-74
Solvency46▼-14
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.7 against 1.5 in 2024; short-term debt: 31.3% and cash: 5.9% of total assets), and 78.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
21.3%
Return on assets
-15.3%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 31896 sector peers (2025).
NBB · sector comparisonPosition among 31896 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 21-01-2026, 10 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
10 d early
2024
3 d early
2023
28 d early
2022
on the day
2021
1 d late
2013
14 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 4 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€180,742▼ 41.9%
2024 · €310,880
Total assets
€849,390▼ 4.1%
2024 · €885,988
Net result
-€130,138
2024 · €38,736
Working capital
-€80,422
2024 · €60,610
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
Operating result€104,013-€116,237▲ 11.8%€79,144▼ 31.9%€76,153▼ 3.8%-€106,050
Net result€68,927-€66,360▼ 3.7%€46,615▼ 29.8%€38,736▼ 16.9%-€130,138
Equity€159,168-€225,528▲ 41.7%€272,144▲ 20.7%€310,880▲ 14.2%€180,742▼ 41.9%
Total assets€975,260-€996,768▲ 2.2%€1.1m▲ 5.4%€885,988▼ 15.7%€849,390▼ 4.1%
Debt€816,092-€771,239▼ 5.5%€778,722▲ 1.0%€575,108▼ 26.1%€668,648▲ 16.3%
Working capital-€53,017--€11,560▲ 78.2%€26,428€60,610▲ 129%-€80,422
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €106,050 after €76,153 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €849,390
Fixed assets
€663,867 ▼ 5.8%
Current assets
€185,523 ▲ 2.6%
Equity and liabilities €849,390
Equity
€180,742 ▼ 41.9%
Debt
€668,648 ▲ 16.3%
Debt's share of the balance-sheet total rises from 64.9% to 78.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€46,919▼
2024 · €133,995
Cash flow
-€71,008▼
2024 · €96,578
Current ratio
0.70▼
2024 · 1.50
Debt to equity
3.70▲
2024 · 1.85
ROE
-72.0%▼
2024 · 12.5%
ROA
-15.3%▼
2024 · 4.4%
Interest coverage
-2.46▼
2024 · 6.74
Debt ≤ 1 year
€265,944▲
2024 · €120,297
Debt > 1 year
€402,704▼
2024 · €454,811
Income taxes
€4,996▼
2024 · €21,763
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 180 companies that looked in July 2024 the way this one looks now, 5.6% went bankrupt within 24 months and 91% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
5.6%
went bankrupt
2.8%
stopped otherwise
91%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 180 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,688 | €54,089 | €56,917 | €57,842 | €59,130 | ▲ 2.2% |
| Other operating charges640/8 | - | €1,791 | €1,892 | €10,829 | €21,862 | ▲ 102% |
| Gross operating margin9900 | €151,249 | €172,117 | €137,953 | €144,824 | -€25,057 | ▼ 117% |
| Operating profit (loss)9901 | €104,013 | €116,237 | €79,144 | €76,153 | -€106,050 | ▼ 239% |
| Financial income75/76B | - | €0 | €2,845 | €4,235 | €14 | ▼ 99.7% |
| Recurring financial income75 | €2,503 | €0 | €2,845 | €4,235 | €14 | ▼ 99.7% |
| Financial charges65/66B | - | €13,446 | €12,958 | €19,889 | €19,107 | ▼ 3.9% |
| Recurring financial charges65 | €13,967 | €13,446 | €12,958 | €19,889 | €19,107 | ▼ 3.9% |
| Profit (loss) for the period before taxes9903 | €92,549 | €102,791 | €69,032 | €60,500 | -€125,142 | ▼ 307% |
| Income taxes67/77 | €23,622 | €36,430 | €22,416 | €21,763 | €4,996 | ▼ 77.0% |
| Profit (loss) for the period9904 | €68,927 | €66,360 | €46,615 | €38,736 | -€130,138 | ▼ 436% |
| Profit (loss) for the period to be appropriated9905 | €68,927 | €66,360 | €46,615 | €38,736 | -€130,138 | ▼ 436% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €975,260 | €996,768 | €1.1m | €885,988 | €849,390 | ▼ 4.1% |
| Fixed assets21/28 | €819,214 | €794,053 | €751,944 | €705,081 | €663,867 | ▼ 5.8% |
| Tangible fixed assets22/27 | €819,214 | €794,053 | €751,944 | €705,081 | €663,867 | ▼ 5.8% |
| Land and buildings22 | - | €572,678 | €547,678 | €522,678 | €497,678 | ▼ 4.8% |
| Plant, machinery and equipment23 | - | €213,398 | €195,315 | €167,681 | €138,494 | ▼ 17.4% |
| Furniture and vehicles24 | - | €5,365 | €4,239 | €10,010 | €19,983 | ▲ 99.6% |
| Other tangible fixed assets26 | - | €2,613 | €4,713 | €4,713 | €7,713 | ▲ 63.7% |
| Current assets29/58 | €156,046 | €202,714 | €298,921 | €180,907 | €185,523 | ▲ 2.6% |
| Amounts receivable within one year40/41 | €105,976 | €149,989 | €248,913 | €75,691 | €122,696 | ▲ 62.1% |
| Trade receivables40 | - | €149,989 | €164,178 | €0 | €103,117 | - |
| Other amounts receivable41 | - | €0 | €84,735 | €75,691 | €19,579 | ▼ 74.1% |
| Cash at bank and in hand54/58 | €50,070 | €52,725 | €50,008 | €87,036 | €50,000 | ▼ 42.6% |
| Deferred charges and accrued income490/1 | - | - | - | €18,180 | €12,826 | ▼ 29.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €975,260 | €996,768 | €1.1m | €885,988 | €849,390 | ▼ 4.1% |
| Equity10/15 | €159,168 | €225,528 | €272,144 | €310,880 | €180,742 | ▼ 41.9% |
| Contributions10/11 | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €158,168 | €224,528 | €271,144 | €309,880 | €300,494 | ▼ 3.0% |
| Distributable reserves133 | - | €224,528 | €271,144 | €309,880 | €300,494 | ▼ 3.0% |
| Profit (loss) carried forward14 | - | - | - | - | -€120,752 | - |
| Amounts payable17/49 | €816,092 | €771,239 | €778,722 | €575,108 | €668,648 | ▲ 16.3% |
| Amounts payable after more than one year17 | €607,029 | €556,965 | €506,228 | €454,811 | €402,704 | ▼ 11.5% |
| Financial debts170/4 | - | €556,965 | €506,228 | €454,811 | €402,704 | ▼ 11.5% |
| Amounts payable within one year42/48 | €209,063 | €214,275 | €272,493 | €120,297 | €265,944 | ▲ 121% |
| Current portion of amounts payable after more than one year42 | - | €50,064 | €103,885 | €57,741 | €61,697 | ▲ 6.8% |
| Financial debts43 | - | €25,000 | €75,075 | €0 | €102,223 | - |
| Credit institutions430/8 | - | €25,000 | €75,075 | €0 | €102,223 | - |
| Trade debts44 | €13,213 | €24,995 | €12,493 | €8,591 | €5,120 | ▼ 40.4% |
| Suppliers440/4 | - | €24,995 | €12,493 | €8,591 | €5,120 | ▼ 40.4% |
| Advances received on contracts in progress46 | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €79,534 | €10,905 | €43,830 | €4,345 | ▼ 90.1% |
| Taxes450/3 | - | €79,534 | €10,905 | €43,830 | €4,345 | ▼ 90.1% |
| Other amounts payable47/48 | - | €34,682 | €70,134 | €10,134 | €92,559 | ▲ 813% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68,927 | €66,360 | €46,615 | €38,736 | -€130,138 | ▼ 436% |
| + Depreciation and write-downs630 | €46,688 | €54,089 | €56,917 | €57,842 | €59,130 | ▲ 2.2% |
| Operating cash flow (approximation) | €115,614 | €120,449 | €103,532 | €96,578 | -€71,008 | ▼ 174% |
| Investment in fixed assets (approximation) | - | -€28,928 | -€14,807 | -€10,979 | -€17,916 | ▼ 63.2% |
| Change in cash | - | €2,655 | -€2,717 | €37,027 | -€37,036 | ▼ 200% |
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
21-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet -€130,138
Net result drops to -€130,138, the lowest in the series.
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Equity above €200,000Eq €225,528 ▲41.7%
2 profitable years in a row build equity to €225,528.
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2014
14-02
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Antwerpen · 1 establishment unit since 2010
Ground area
122 m²
Building footprint
99 m²
Volume, LiDAR
1,205 m³
Parcel 11806F1318/00W003, Flanders · tallest building 16.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Lupa
since 20102.218.119.586
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11806F1318/00W003 | Flanders | 122 m² | 1 · 99 m² | 16.3 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 40,609 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-05-2010
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0825790791
Also
9925:BE0825790791
Registered
19-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.