LVSM
ActiveLVSM has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5k and a net result of €33k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 17% of 3478 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency30▼-63
Growth58▲+6
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Seven 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Sector 74
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5%
Return on assets
33%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 3478 sector peers (2025).
NBB · sector comparisonPosition among 3478 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 04-04-2026, 26 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
26 d early
2024
76 d early
2023
27 d early
2022
6 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€136k
EBIT margin
32.3%
Net result
€33k▲ 10.9%
2024 · €30k
2022: €32k
2023: €20k
2024: €30k
2022 → 2025
Working capital
€-22k
2024 · €49k
2022: €16k
2023: €23k
2024: €49k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Turnover€136k
Equity€33k-€53k▲ 57.5%€82k▲ 56.3%€5k▼ 93.9%
Operating result€41k-€26k▼ 35.0%€38k▲ 42.4%€44k▲ 17.4%
Net result€32k-€20k▼ 37.5%€30k▲ 47.9%€33k▲ 10.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €99k
Fixed assets
€28k▼ 24.5%
Current assets
€71k▼ 13.8%
Equity and liabilities €99k
Equity
€5k▼ 93.9%
Debt
€94k▲ 150%
The debt ratio rises from 31.5% to 95.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€53k▲
2024 · €46k
Cash flow
€42k▲
2024 · €38k
Solvency
5.0%▼
2024 · 68.5%
Current ratio
0.76▼
2024 · 2.50
Quick ratio
0.76▼
2024 · 2.50
Debt / equity
18.88▲
2024 · 0.46
ROE
656.2%▲
2024 · 36.0%
ROA
33.0%▲
2024 · 24.7%
Interest coverage
24.72▼
2024 · 31.04
Debt
€94k▲
2024 · €38k
Debt ≤ 1 year
€93k▲
2024 · €33k
Debt > 1 year
€884▼
2024 · €5k
Income taxes
€10k▲
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€120k€99k▼
Fixed assets21/28€38k€28k▼
Intangible fixed assets21€12k€10k▼
Tangible fixed assets22/27€26k€18k▼
Plant, machinery and equipment23€819€242▼
Furniture and vehicles24€25k€18k▼
Current assets29/58€82k€71k▼
Amounts receivable within one year40/41€43k€45k▲
Trade receivables40€16k€43k▲
Other amounts receivable41€27k€3k▼
Cash at bank and in hand54/58€35k€24k▼
Deferred charges and accrued income490/1€5k€1k▼
Equity and liabilities
Total equity and liabilities10/49€120k€99k▼
Equity10/15€82k€5k▼
Contributions10/11€5k€5k=
Profit (loss) carried forward14€77k€0▼
Amounts payable17/49€38k€94k▲
Amounts payable after more than one year17€5k€884▼
Financial debts170/4€5k€884▼
Amounts payable within one year42/48€33k€93k▲
Current portion of amounts payable after more than one year42€10k€4k▼
Financial debts43€2k€2k▼
Credit institutions430/8€2k€2k▼
Trade debts44€5k€7k▲
Suppliers440/4€5k€7k▲
Taxes, remuneration and social security45€16k€13k▼
Taxes450/3€15k€12k▼
Remuneration and social security454/9€2k€1k▼
Other amounts payable47/48-€68k
Accrued charges and deferred income492/3€100€100=
Income statement
Code20242025
Turnover70-€136k
Non-recurring operating income76A-€0
Goods, raw materials, services and sundry goods60/61-€84k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€9k▲
Other operating charges640/8€1k€1k▲
Non-recurring operating charges66A-€499
Gross operating margin9900€47k€55k▲
Operating profit (loss)9901€38k€44k▲
Financial income75/76B€2k€575▼
Recurring financial income75€1k€575▼
Non-recurring financial income76B€793€0▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€38k€42k▲
Income taxes67/77€8k€10k▲
Profit (loss) for the period9904€30k€33k▲
Profit (loss) for the period to be appropriated9905€30k€33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€77k€110k▲
Profit (loss) brought forward from the previous period14P€48k€77k▲
Profit to be distributed694/7-€110k
Return on contributions (dividend)694-€110k
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2022net €33k ▲10.9%
Operating result €44k, net result €33k, both a record.
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet €20k ▼37.5%
Net result drops to €20k, the lowest in the series; recovery starts the following year.
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Harelbeke · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Overleiestraat 1308530 HarelbekeGround area
528 m²
Building footprint
84 m²
Volume, LiDAR
716 m³
Parcel 34323D0075/00Y010, Flanders · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
De Renderij
since 20212.311.801.493
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34323D0075/00Y010 | Flanders | 528 m² | 1 · 84 m² | 11.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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STUDIO D2A – Architectes Associés
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Beeldkracht
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Of 14,144 companies in sector 74201 we hold annual accounts for 2,612. 770 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-01-2021
Fiscal year end30-09
Activities, NACEBEL
74120Graphic design and visual communication
74201Photography, excluding press photography
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.Renderij.be
E-mail:lowie@lvsm.be