LUPHI
ActiveSummary
LUPHI has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-92k) and a net result of €7k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-6
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.16 against 0.21 in 2024; short-term debt: 77.9% and cash: 0.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
-51.9%
Return on assets
3.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 9234 sector peers (2025).
NBB · sector comparisonPosition among 9234 sector peers
Solvency
better than 5%
← weakest
strongest →
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
27 d early
2023
27 d late
2022
29 d late
2021
24 d late
2020
29 d late
2019
58 d late
← 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€7k▼ 57.8%
2024 · €16k
2018: €36khighest in 8 years
2019: €-99k▼ -374% vs 2018
2020: €5k▲ +105% vs 2019
2021: €-172k▼ -3292% vs 2020lowest in 8 years
2022: €-4k▲ +97.7% vs 2021
2023: €1k▲ +139% vs 2022
2024: €16k▲ +942% vs 2023
2025: €7k▼ -57.8% vs 2024
2018 → 2025
Working capital
€-116k▼ 23.1%
2024 · €-94k
2018: €-17k
2019: €-18k▼ -7.2% vs 2018
2020: €-19k▼ -5.2% vs 2019
2021: €36k▲ +285% vs 2020highest in 8 years
2022: €-67k▼ -288% vs 2021
2023: €-94k▼ -39.1% vs 2022
2024: €-94k▼ -0.1% vs 2023
2025: €-116k▼ -23.1% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-104k-€-115k▼ 10.9%€-114k▲ 1.3%€-98k▲ 13.7%€-92k▲ 6.7%
2021: €-104k
2022: €-115k▼ -10.9% vs 2021lowest in 5 years
2023: €-114k▲ +1.3% vs 2022
2024: €-98k▲ +13.7% vs 2023
2025: €-92k▲ +6.7% vs 2024highest in 5 years
Operating result€40k-€-2k€16k€21k▲ 29.3%€22k▲ 2.4%
2021: €40khighest in 5 years
2022: €-2k▼ -106% vs 2021lowest in 5 years
2023: €16k▲ +800% vs 2022
2024: €21k▲ +29.3% vs 2023
2025: €22k▲ +2.4% vs 2024
Net result€-172k-€-4k▲ 97.7%€1k€16k▲ 942%€7k▼ 57.8%
2021: €-172klowest in 5 years
2022: €-4k▲ +97.7% vs 2021
2023: €1k▲ +139% vs 2022
2024: €16k▲ +942% vs 2023highest in 5 years
2025: €7k▼ -57.8% vs 2024
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 2% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €176k
Fixed assets
€155k ▼ 5.1%
Current assets
€22k ▼ 10.9%
Key figures and ratios
EBITDA
€31k▲
2024 · €30k
Cash flow
€16k▼
2024 · €25k
Solvency
-51.9%▲
2024 · -52.4%
Current ratio
0.16▼
2024 · 0.21
Debt to equity
-2.86▼
2024 · -2.84
ROA
3.7%▼
2024 · 8.3%
Interest coverage
7.25▼
2024 · 8.03
Debt
€262k▼
2024 · €279k
Debt ≤ 1 year
€137k▲
2024 · €118k
Debt > 1 year
€124k▼
2024 · €154k
Income taxes
€12k▲
2024 · €2k
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 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€187k€176k▼
Formation expenses20-€0
Fixed assets21/28€163k€155k▼
Tangible fixed assets22/27€163k€155k▼
Land and buildings22€131k€129k▼
Plant, machinery and equipment23€25k€21k▼
Furniture and vehicles24€2k€2k▲
Leasing and similar rights25€6k€3k▼
Current assets29/58€24k€22k▼
Amounts receivable within one year40/41€17k€14k▼
Trade receivables40€17k€14k▼
Other amounts receivable41-€83
Cash at bank and in hand54/58€7k€2k▼
Deferred charges and accrued income490/1€247€6k▲
Equity and liabilities
Total equity and liabilities10/49€187k€176k▼
Equity10/15€-98k€-92k▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€27k€27k=
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Tax-exempt reserves132€21k€21k=
Profit (loss) carried forward14€-188k€-181k▲
Provisions and deferred taxes16€6k€6k▼
Deferred taxes168€6k€6k▼
Amounts payable17/49€279k€262k▼
Amounts payable after more than one year17€154k€124k▼
Financial debts170/4€154k€124k▼
Amounts payable within one year42/48€118k€137k▲
Current portion of amounts payable after more than one year42€30k€30k▲
Financial debts43-€78k
Credit institutions430/8-€78k
Trade debts44€12k€18k▲
Suppliers440/4€12k€18k▲
Taxes, remuneration and social security45€516€11k▲
Taxes450/3€516€11k▲
Other amounts payable47/48€76k-
Accrued charges and deferred income492/3€7k€908▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▼
Other operating charges640/8€8k€8k▼
Non-recurring operating charges66A-€513
Gross operating margin9900€39k€39k▲
Operating profit (loss)9901€21k€22k▲
Financial income75/76B€4€1k▲
Recurring financial income75€4€1k▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€17k€19k▲
Transfer from deferred taxes780€207€207▼
Income taxes67/77€2k€12k▲
Profit (loss) for the period9904€16k€7k▼
Profit (loss) for the period to be appropriated9905€16k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-188k€-181k▲
Profit (loss) brought forward from the previous period14P€-204k€-188k▲
The notes to these accounts (7 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 | €6k | €10k | €12k | €9k | €9k | ▼ 1.7% |
| Other operating charges640/8 | €2k | €11k | €12k | €8k | €8k | ▼ 9.8% |
| Non-recurring operating charges66A | - | - | - | - | €513 | - |
| Gross operating margin9900 | €47k | €19k | €41k | €39k | €39k | ▲ 0.1% |
| Operating profit (loss)9901 | €40k | €-2k | €16k | €21k | €22k | ▲ 2.4% |
| Financial income75/76B | €35k | €3k | - | €4 | €1k | ▲ 30,697% |
| Recurring financial income75 | €35k | €3k | - | €4 | €1k | ▲ 30,697% |
| Non-recurring financial income76B | €35k | €3k | - | - | - | - |
| Financial charges65/66B | €239k | €4k | €4k | €4k | €4k | ▲ 12.0% |
| Recurring financial charges65 | €4k | €4k | €4k | €4k | €4k | ▲ 12.0% |
| Non-recurring financial charges66B | €235k | €1 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €-164k | €-4k | €12k | €17k | €19k | ▲ 7.4% |
| Transfer from deferred taxes780 | - | €207 | €207 | €207 | €207 | ▼ 0.1% |
| Income taxes67/77 | €8k | - | €11k | €2k | €12k | ▲ 546% |
| Profit (loss) for the period9904 | €-172k | €-4k | €1k | €16k | €7k | ▼ 57.8% |
| Transfer from tax-exempt reserves789 | - | €7k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-172k | €3k | €1k | €16k | €7k | ▼ 57.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €137k | €198k | €194k | €187k | €176k | ▼ 5.8% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €68k | €173k | €171k | €163k | €155k | ▼ 5.1% |
| Tangible fixed assets22/27 | €68k | €173k | €171k | €163k | €155k | ▼ 5.1% |
| Land and buildings22 | €56k | €135k | €133k | €131k | €129k | ▼ 1.7% |
| Plant, machinery and equipment23 | €11k | €26k | €28k | €25k | €21k | ▼ 15.2% |
| Furniture and vehicles24 | €884 | €501 | €1k | €2k | €2k | ▲ 24.9% |
| Leasing and similar rights25 | - | €11k | €9k | €6k | €3k | ▼ 47.2% |
| Financial fixed assets28 | €1 | €0 | - | - | - | - |
| Current assets29/58 | €69k | €25k | €23k | €24k | €22k | ▼ 10.9% |
| Amounts receivable within one year40/41 | €23k | €20k | €20k | €17k | €14k | ▼ 17.5% |
| Trade receivables40 | €22k | €20k | €20k | €17k | €14k | ▼ 18.0% |
| Other amounts receivable41 | €863 | - | - | - | €83 | - |
| Cash at bank and in hand54/58 | €43k | €4k | €950 | €7k | €2k | ▼ 76.8% |
| Deferred charges and accrued income490/1 | €2k | €1k | €2k | €247 | €6k | ▲ 2,271% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €137k | €198k | €194k | €187k | €176k | ▼ 5.8% |
| Equity10/15 | €-104k | €-115k | €-114k | €-98k | €-92k | ▲ 6.7% |
| Contributions10/11 | €63k | €63k | €63k | €63k | €63k | = |
| Capital10 | €63k | €63k | €63k | €63k | €63k | = |
| Issued capital100 | €63k | €63k | €63k | €63k | €63k | = |
| Reserves13 | €7k | €27k | €27k | €27k | €27k | = |
| Non-distributable reserves130/1 | €7k | €7k | €7k | €7k | €7k | = |
| Legal reserve130 | €7k | €7k | €7k | €7k | €7k | = |
| Tax-exempt reserves132 | - | €21k | €21k | €21k | €21k | = |
| Profit (loss) carried forward14 | €-173k | €-205k | €-204k | €-188k | €-181k | ▲ 3.5% |
| Provisions and deferred taxes16 | - | €7k | €6k | €6k | €6k | ▼ 3.3% |
| Deferred taxes168 | - | €7k | €6k | €6k | €6k | ▼ 3.3% |
| Amounts payable17/49 | €241k | €307k | €301k | €279k | €262k | ▼ 6.2% |
| Amounts payable after more than one year17 | €165k | €214k | €184k | €154k | €124k | ▼ 19.8% |
| Financial debts170/4 | €165k | €214k | €184k | €154k | €124k | ▼ 19.8% |
| Other amounts payable178/9 | €200 | - | - | - | - | - |
| Amounts payable within one year42/48 | €33k | €93k | €117k | €118k | €137k | ▲ 16.1% |
| Current portion of amounts payable after more than one year42 | €24k | €29k | €30k | €30k | €30k | ▲ 1.7% |
| Financial debts43 | - | - | - | - | €78k | - |
| Credit institutions430/8 | - | - | - | - | €78k | - |
| Trade debts44 | €4k | €7k | €11k | €12k | €18k | ▲ 53.3% |
| Suppliers440/4 | €4k | €7k | €11k | €12k | €18k | ▲ 53.3% |
| Advances received on contracts in progress46 | - | €200 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €3k | €242 | €516 | €11k | ▲ 2,059% |
| Taxes450/3 | - | €3k | €242 | €516 | €11k | ▲ 2,059% |
| Other amounts payable47/48 | €5k | €53k | €76k | €76k | - | - |
| Accrued charges and deferred income492/3 | €43k | €373 | €389 | €7k | €908 | ▼ 86.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-172k | €-4k | €1k | €16k | €7k | ▼ 57.8% |
| + Depreciation and write-downs630 | €6k | €10k | €12k | €9k | €9k | ▼ 1.7% |
| Operating cash flow (approximation) | €-166k | €6k | €14k | €25k | €16k | ▼ 36.9% |
| Investment in fixed assets (approximation) | - | €-115k | €-10k | €-1k | €-853 | ▲ 28.5% |
| Change in cash | - | €-40k | €-3k | €6k | €-5k | ▼ 189% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
31-12
Financial
Weakest financial yearnet €-172k
Net result drops to €-172k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 2.09
Current ratio from 0.61 to 2.09; short-term debt falls from €50k to €33k.
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 29 days late
2020
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
31-12
Financial
Equity above €100kEq €105k ▲5.4%
Equity rises from €99k to €105k.
27-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 58 days late
Show earlier events
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Chaudfontaine · 1 establishment unit since 1991
Ground area
1,405 m²
Building footprint
179 m²
Volume, LiDAR
1,220 m³
Parcel 62030B0013/00C000, Wallonia · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
à la Corne du Pré 12, 4053 Chaudfontaine
since 19912.055.024.776
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62030B0013/00C000 | Wallonia | 1,405 m² | 1 · 179 m² | 8.1 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.
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,812 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
Founded27-07-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.