MARCEL LAMBERT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-04-2026 PDF all 23 filings
Turnover
≈ €390,000
Estimated: probably between €300,000 and €550,000
Total assets
€351,650▼ 21.7%
2024 · €449,133
Net result
€21,777▼ 54.4%
2024 · €47,794
Working capital
€34,054▲ 251%
2024 · €9,711
In the rankings
#7 company by equity in Clavier, Construction sector#8 company by total assets in Clavier, Construction sector#8 oldest company in Clavier, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€44,034
▼ 41.3%
2025
20182025
Net result
€21,777
▼ 54.4%
2025
middle half of the sector
20182025
Equity
€149,930
▼ 4.0%
2025
highest quarter of the sector
20182025
Total assets
€351,650
▼ 21.7%
2025
highest quarter of the sector
20182025
Debt
€197,510
▼ 30.1%
2025
20182025
Working capital
€34,054
▲ 251%
2025
middle half of the sector
20182025
Solvency
42.6%
▲ 7.9pp
2025
middle half of the sector
20182025
Current ratio
1.27
▲ 0.20
2025
middle half of the sector
20182025
Return on assets (ROA)
6.2%
▼ 4.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€7,429-€14,541▲ 95.7%€6,726▼ 53.7%€77,610▲ 12×€9,309▼ 88.0%€26,802▲ 188%€75,046▲ 180%€44,034▼ 41.3%
Net result€4,123-€7,771▲ 88.5%€3,951within the sector's middle half▼ 49.2%€62,772above the sector's middle half▲ 16×€6,282within the sector's middle half▼ 90.0%€12,205within the sector's middle half▲ 94.3%€47,794above the sector's middle half▲ 292%€21,777within the sector's middle half▼ 54.4%
Equity€72,866-€80,636▲ 10.7%€84,587within the sector's middle half▲ 4.9%€147,359above the sector's middle half▲ 74.2%€143,641above the sector's middle half▼ 2.5%€130,846within the sector's middle half▼ 8.9%€156,140above the sector's middle half▲ 19.3%€149,930above the sector's middle half▼ 4.0%
Total assets€292,891-€275,467▼ 5.9%€250,495within the sector's middle half▼ 9.1%€441,485above the sector's middle half▲ 76.2%€405,246above the sector's middle half▼ 8.2%€374,193above the sector's middle half▼ 7.7%€449,133above the sector's middle half▲ 20.0%€351,650above the sector's middle half▼ 21.7%
Debt€212,933-€187,294▼ 12.0%€162,208▼ 13.4%€279,620▲ 72.4%€251,579▼ 10.0%€237,233▼ 5.7%€282,473▲ 19.1%€197,510▼ 30.1%
Working capital€6,106-€10,668▲ 74.7%€43,278within the sector's middle half▲ 306%€7,966within the sector's middle half▼ 81.6%€5,393within the sector's middle half▼ 32.3%€22,088within the sector's middle half▲ 310%€9,711within the sector's middle half▼ 56.0%€34,054within the sector's middle half▲ 251%
Solvency24.9%-29.3%▲ 4.4pp33.8%within the sector's middle half▲ 4.5pp33.4%within the sector's middle half▼ 0.4pp35.4%within the sector's middle half▲ 2.1pp35.0%within the sector's middle half▼ 0.5pp34.8%within the sector's middle half▼ 0.2pp42.6%within the sector's middle half▲ 7.9pp
Current ratio1.07-1.12▲ 0.051.49within the sector's middle half▲ 0.371.07below the sector's middle half▼ 0.421.06below the sector's middle half▼ 0.011.20within the sector's middle half▲ 0.141.07below the sector's middle half▼ 0.131.27within the sector's middle half▲ 0.20
Return on assets (ROA)1.4%-2.8%▲ 1.4pp1.6%within the sector's middle half▼ 1.2pp14.2%within the sector's middle half▲ 12.6pp1.6%within the sector's middle half▼ 12.7pp3.3%within the sector's middle half▲ 1.7pp10.6%within the sector's middle half▲ 7.4pp6.2%within the sector's middle half▼ 4.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 41% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €351,650
Fixed assets
€191,462 ▼ 37.9%
Current assets
€160,188 ▲ 13.9%
Equity and liabilities €351,650
Equity
€149,930 ▼ 4.0%
Provisions
€4,210 ▼ 60.0%
Debt
€197,510 ▼ 30.1%
Debt's share of the balance-sheet total falls from 62.9% to 56.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€118,702▼
2024 · €172,797
Cash flow
€96,445▼
2024 · €145,545
Debt to equity
1.32▼
2024 · 1.81
ROE
14.5%▼
2024 · 30.6%
Interest coverage
20.44▼
2024 · 26.79
Debt ≤ 1 year
€126,134▼
2024 · €130,928
Debt > 1 year
€71,271▼
2024 · €151,539
Income taxes
€22,762▲
2024 · €16,424
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €97,094 | €40,779 | €193,630 | €72,305 |
| Depreciation and write-downs of the year | €101,813 | €103,488 | €97,751 | €74,669 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €70,223 | €82,495 | €74,179 | €67,382 | €101,813 | €103,488 | €97,751 | €74,669 | ▼ 23.6% |
| Other operating charges640/8 | - | - | - | - | €636 | €525 | €297 | €377 | ▲ 26.9% |
| Non-recurring operating charges66A | - | - | - | - | - | €57 | - | - | - |
| Gross operating margin9900 | €78,202 | €98,005 | €81,833 | €145,827 | €111,758 | €130,872 | €173,095 | €119,080 | ▼ 31.2% |
| Operating profit (loss)9901 | €7,429 | €14,541 | €6,726 | €77,610 | €9,309 | €26,802 | €75,046 | €44,034 | ▼ 41.3% |
| Financial income75/76B | - | - | - | - | €0 | €2 | €29 | €3 | ▼ 88.4% |
| Recurring financial income75 | €183 | €161 | €2,130 | €791 | €0 | €2 | €29 | €3 | ▼ 88.4% |
| Financial charges65/66B | - | - | - | - | €3,694 | €4,277 | €6,450 | €5,808 | ▼ 10.0% |
| Recurring financial charges65 | €3,484 | €3,409 | €2,798 | €2,870 | €3,694 | €4,277 | €6,450 | €5,808 | ▼ 10.0% |
| Profit (loss) for the period before taxes9903 | €4,128 | €11,294 | €6,058 | €75,531 | €5,615 | €22,526 | €68,624 | €38,229 | ▼ 44.3% |
| Transfer from deferred taxes780 | - | - | - | - | €4,479 | €3,913 | €2,994 | €6,310 | ▲ 111% |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €7,400 | - | - |
| Income taxes67/77 | €2,984 | €3,080 | €5,943 | €1,954 | €3,813 | €14,233 | €16,424 | €22,762 | ▲ 38.6% |
| Profit (loss) for the period9904 | €4,123 | €7,771 | €3,951 | €62,772 | €6,282 | €12,205 | €47,794 | €21,777 | ▼ 54.4% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €14,973 | €13,873 | €11,975 | €25,240 | ▲ 111% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €29,600 | - | - |
| Profit (loss) for the period to be appropriated9905 | €9,910 | €6,981 | €11,382 | €16,605 | €21,255 | €26,078 | €30,169 | €47,016 | ▲ 55.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €292,891 | €275,467 | €250,495 | €441,485 | €405,246 | €374,193 | €449,133 | €351,650 | ▼ 21.7% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €199,005 | €174,515 | €118,798 | €313,013 | €308,294 | €243,118 | €308,494 | €191,462 | ▼ 37.9% |
| Tangible fixed assets22/27 | €198,825 | €174,335 | €118,618 | €312,833 | €308,114 | €242,938 | €308,314 | €191,282 | ▼ 38.0% |
| Plant, machinery and equipment23 | - | - | - | - | €300,456 | €227,627 | €272,513 | €169,297 | ▼ 37.9% |
| Furniture and vehicles24 | - | - | - | - | €6,901 | €14,783 | €35,502 | €21,836 | ▼ 38.5% |
| Other tangible fixed assets26 | - | - | - | - | €757 | €528 | €299 | €150 | ▼ 50.0% |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €93,887 | €100,952 | €131,697 | €128,472 | €96,952 | €131,075 | €140,639 | €160,188 | ▲ 13.9% |
| Amounts receivable within one year40/41 | €69,956 | €61,006 | €57,734 | €75,062 | €40,035 | €74,035 | €85,347 | €82,370 | ▼ 3.5% |
| Trade receivables40 | - | - | - | - | €32,436 | €42,624 | €59,078 | €61,350 | ▲ 3.8% |
| Other amounts receivable41 | - | - | - | - | €7,599 | €31,412 | €26,269 | €21,020 | ▼ 20.0% |
| Cash at bank and in hand54/58 | €20,463 | €35,383 | €69,623 | €49,376 | €52,843 | €52,399 | €49,158 | €71,435 | ▲ 45.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €4,074 | €4,641 | €6,134 | €6,383 | ▲ 4.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €292,891 | €275,467 | €250,495 | €441,485 | €405,246 | €374,193 | €449,133 | €351,650 | ▼ 21.7% |
| Equity10/15 | €72,866 | €80,636 | €84,587 | €147,359 | €143,641 | €130,846 | €156,140 | €149,930 | ▼ 4.0% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €15,634 | €16,424 | €20,375 | €83,146 | €89,429 | €101,634 | €143,740 | €137,530 | ▼ 4.3% |
| Non-distributable reserves130/1 | - | - | - | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €38,327 | €24,454 | €42,079 | €16,840 | ▼ 60.0% |
| Distributable reserves133 | - | - | - | - | €51,101 | €77,180 | €101,661 | €120,691 | ▲ 18.7% |
| Profit (loss) carried forward14 | €44,832 | €51,812 | €51,812 | €51,812 | €41,812 | €16,812 | €0 | - | - |
| Provisions and deferred taxes16 | €7,093 | €7,536 | €3,700 | €14,506 | €10,026 | €6,114 | €10,520 | €4,210 | ▼ 60.0% |
| Deferred taxes168 | - | - | - | - | €10,026 | €6,114 | €10,520 | €4,210 | ▼ 60.0% |
| Amounts payable17/49 | €212,933 | €187,294 | €162,208 | €279,620 | €251,579 | €237,233 | €282,473 | €197,510 | ▼ 30.1% |
| Amounts payable after more than one year17 | €125,153 | €97,002 | €73,693 | €158,996 | €160,006 | €123,089 | €151,539 | €71,271 | ▼ 53.0% |
| Financial debts170/4 | - | - | - | - | €160,006 | €123,089 | €151,539 | €71,271 | ▼ 53.0% |
| Amounts payable within one year42/48 | €87,781 | €90,284 | €88,418 | €120,506 | €91,559 | €108,987 | €130,928 | €126,134 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €65,413 | €56,650 | €73,673 | €51,014 | ▼ 30.8% |
| Financial debts43 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Credit institutions430/8 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Trade debts44 | €27,178 | €30,367 | €19,638 | €38,484 | €14,898 | €14,212 | €29,684 | €18,197 | ▼ 38.7% |
| Suppliers440/4 | - | - | - | - | €14,898 | €14,212 | €29,684 | €18,197 | ▼ 38.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,248 | €13,126 | €5,071 | €28,937 | ▲ 471% |
| Taxes450/3 | - | - | - | - | €1,248 | €13,126 | €5,071 | €28,937 | ▲ 471% |
| Other amounts payable47/48 | - | - | - | - | €10,000 | €25,000 | €22,500 | €27,986 | ▲ 24.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €14 | €5,157 | €5 | €105 | ▲ 20× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,123 | €7,771 | €3,951 | €62,772 | €6,282 | €12,205 | €47,794 | €21,777 | ▼ 54.4% |
| + Depreciation and write-downs630 | €70,223 | €82,495 | €74,179 | €67,382 | €101,813 | €103,488 | €97,751 | €74,669 | ▼ 23.6% |
| Operating cash flow (approximation) | €74,346 | €90,266 | €78,130 | €130,153 | €108,095 | €115,694 | €145,545 | €96,445 | ▼ 33.7% |
| Investment in fixed assets (approximation) | - | -€58,005 | -€18,463 | -€261,597 | -€97,094 | -€38,312 | -€163,127 | €42,363 | - |
| Change in cash | - | €14,920 | €34,239 | -€20,246 | €3,467 | -€444 | -€3,241 | €22,277 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as MARCEL LAMBERT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MARCEL LAMBERT itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for MARCEL LAMBERT. 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.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-04-2026 | 2026-00081512 | |
| 31-12-2024 | micro format | 18-03-2025 | 2025-00049380 | |
| 31-12-2023 | micro format | 22-02-2024 | 2024-00032895 | |
| 31-12-2022 | micro format | 17-02-2023 | 2023-00028375 | |
| 31-12-2021 | micro format | 22-03-2022 | 2022-08100593 | |
| 31-12-2020 | micro format | 17-03-2021 | 2021-07700356 | |
| 31-12-2019 | micro format | 10-02-2020 | 2020-04700389 | |
| 31-12-2018 | micro format | 13-02-2019 | 2019-05000083 | |
| 31-12-2017 | micro format | 13-02-2018 | 2018-04900036 | |
| 31-12-2016 | micro format | 19-04-2017 | 2017-09500334 |