LVO SERVICES
ActiveSummary
LVO SERVICES has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13.95M and a net result of €1.86M. Equity is growing by ~18.5% per year across the filed fiscal years. Its solvency ranks better than 52% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76=
Solvency66▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.05M at 30 days acceptable
Liquidity ample (current ratio 1.53 against 0.75 in 2024; short-term debt: 5.8% and cash: 7.1% of total assets), but 59.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
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
40.9%
Return on assets
5.5%
Age of the figures
9 mo
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
83 d early
2023
14 d early
2022
18 d early
2021
31 d early
2020
17 d early
2019
95 d early
← 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1.86M▲ 3.8%
2024 · €1.80M
2018: €1.06M
2018: €-7klowest value
2019: €1.52M▲ +22804% vs 2018
2020: €1.06M▼ -30.3% vs 2019
2021: €1.17M▲ +10.0% vs 2020
2022: €1.25M▲ +7.1% vs 2021
2023: €1.42M▲ +13.9% vs 2022
2024: €1.80M▲ +26.3% vs 2023
2025: €1.86M▲ +3.8% vs 2024highest value
2018 → 2025
Working capital
€1.05M
2024 · €-610k
2018: €-652k
2018: €-1.08M
2019: €-824k▲ +24.0% vs 2018
2020: €-8.06M▼ -878% vs 2019lowest value
2021: €-2.54M▲ +68.5% vs 2020
2022: €-1.45M▲ +43.1% vs 2021
2023: €-1.26M▲ +12.7% vs 2022
2024: €-610k▲ +51.7% vs 2023
2025: €1.05M▲ +272% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€7.13M-€8.38M▲ 17.5%€9.80M▲ 17.0%€11.59M▲ 18.3%€13.95M▲ 20.3%
2021: €7.13Mlowest in 5 years
2022: €8.38M▲ +17.5% vs 2021
2023: €9.80M▲ +17.0% vs 2022
2024: €11.59M▲ +18.3% vs 2023
2025: €13.95M▲ +20.3% vs 2024highest in 5 years
Operating result€191k-€819k▲ 328%€894k▲ 9.1%€1.05M▲ 17.4%€1.74M▲ 65.8%
2021: €191klowest in 5 years
2022: €819k▲ +328% vs 2021
2023: €894k▲ +9.1% vs 2022
2024: €1.05M▲ +17.4% vs 2023
2025: €1.74M▲ +65.8% vs 2024highest in 5 years
Net result€1.17M-€1.25M▲ 7.1%€1.42M▲ 13.9%€1.80M▲ 26.3%€1.86M▲ 3.8%
2021: €1.17Mlowest in 5 years
2022: €1.25M▲ +7.1% vs 2021
2023: €1.42M▲ +13.9% vs 2022
2024: €1.80M▲ +26.3% vs 2023
2025: €1.86M▲ +3.8% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 66% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €34.07M
Fixed assets
€31.03M ▲ 0.8%
Current assets
€3.04M ▲ 64.0%
Equity and liabilities €34.07M
Equity
€13.95M ▲ 20.3%
Debt
€20.12M ▼ 4.3%
Debt's share of the balance-sheet total falls from 64.5% to 59.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.28M▲
2024 · €2.64M
Cash flow
€3.40M▲
2024 · €3.38M
Current ratio
1.53▲
2024 · 0.75
Debt to equity
1.44▼
2024 · 1.81
ROE
13.4%▼
2024 · 15.5%
ROA
5.5%▼
2024 · 5.5%
Interest coverage
8.55▲
2024 · 6.81
Debt ≤ 1 year
€1.99M▼
2024 · €2.46M
Debt > 1 year
€18.11M▼
2024 · €18.55M
Income taxes
€326k▲
2024 · €166k
Staff costs
€202k▼
2024 · €367k
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 · 62 lines
Balance sheet
Code20242025
Assets
Total assets20/58€32.63M€34.07M▲
Fixed assets21/28€30.77M€31.03M▲
Tangible fixed assets22/27€29.78M€31.03M▲
Land and buildings22€26.30M€28.87M▲
Plant, machinery and equipment23€2.30M€17k▼
Furniture and vehicles24€1.05M€300k▼
Assets under construction and advance payments27€132k€1.84M▲
Financial fixed assets28€996k€400▼
Current assets29/58€1.85M€3.04M▲
Amounts receivable within one year40/41€357k€619k▲
Trade receivables40€336k€342k▲
Other amounts receivable41€21k€277k▲
Cash at bank and in hand54/58€1.47M€2.40M▲
Deferred charges and accrued income490/1€31k€19k▼
Equity and liabilities
Total equity and liabilities10/49€32.63M€34.07M▲
Equity10/15€11.59M€13.95M▲
Contributions10/11€309k€273k▼
Capital10€309k€273k▼
Issued capital100€309k€273k▼
Reserves13€11.28M€13.67M▲
Non-distributable reserves130/1€31k€27k▼
Legal reserve130€31k€27k▼
Tax-exempt reserves132-€20k
Distributable reserves133€11.25M€13.62M▲
Profit (loss) carried forward14€2k€6k▲
Amounts payable17/49€21.03M€20.12M▼
Amounts payable after more than one year17€18.55M€18.11M▼
Financial debts170/4€18.54M€18.10M▼
Other amounts payable178/9€11k€11k=
Amounts payable within one year42/48€2.46M€1.99M▼
Current portion of amounts payable after more than one year42€2.26M€1.68M▼
Financial debts43€30k€50k▲
Credit institutions430/8€30k€50k▲
Trade debts44€109k€152k▲
Suppliers440/4€109k€152k▲
Taxes, remuneration and social security45€60k€109k▲
Taxes450/3€27k€109k▲
Remuneration and social security454/9€33k€152▼
Other amounts payable47/48€7k€0▼
Accrued charges and deferred income492/3€12k€22k▲
Income statement
Code20242025
Non-recurring operating income76A-€114k
Remuneration, social security and pensions62€367k€202k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.59M€1.54M▼
Other operating charges640/8€151k€223k▲
Non-recurring operating charges66A-€52k
Gross operating margin9900€3.15M€3.75M▲
Operating profit (loss)9901€1.05M€1.74M▲
Financial income75/76B€1.30M€834k▼
Recurring financial income75€1.30M€834k▼
Financial charges65/66B€387k€383k▼
Recurring financial charges65€387k€383k▼
Profit (loss) for the period before taxes9903€1.96M€2.19M▲
Income taxes67/77€166k€326k▲
Profit (loss) for the period9904€1.80M€1.86M▲
Transfer from tax-exempt reserves789-€267
Profit (loss) for the period to be appropriated9905€1.80M€1.86M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.80M€1.87M▲
Profit (loss) brought forward from the previous period14P€1k€6k▲
Transfer to equity691/2€1.80M€1.86M▲
To the legal reserve6920-€215
To other reserves6921€1.80M€1.86M▲
Social balance
Average headcount (FTE)90875.46.8▲
The notes to these accounts (28 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €114k | - |
| Remuneration, social security and pensions62 | €282k | €297k | €407k | €367k | €202k | ▼ 44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €928k | €1.43M | €1.61M | €1.59M | €1.54M | ▼ 3.2% |
| Other operating charges640/8 | €30k | €110k | €133k | €151k | €223k | ▲ 48.0% |
| Non-recurring operating charges66A | - | - | - | - | €52k | - |
| Gross operating margin9900 | €1.43M | €2.66M | €3.04M | €3.15M | €3.75M | ▲ 19.0% |
| Operating profit (loss)9901 | €191k | €819k | €894k | €1.05M | €1.74M | ▲ 65.8% |
| Financial income75/76B | €1.21M | €791k | €969k | €1.30M | €834k | ▼ 35.9% |
| Recurring financial income75 | €1.21M | €791k | €969k | €1.30M | €834k | ▼ 35.9% |
| Financial charges65/66B | €233k | €244k | €308k | €387k | €383k | ▼ 1.0% |
| Recurring financial charges65 | €233k | €244k | €308k | €387k | €383k | ▼ 1.0% |
| Profit (loss) for the period before taxes9903 | €1.17M | €1.37M | €1.55M | €1.96M | €2.19M | ▲ 11.6% |
| Income taxes67/77 | €365 | €117k | €133k | €166k | €326k | ▲ 96.0% |
| Profit (loss) for the period9904 | €1.17M | €1.25M | €1.42M | €1.80M | €1.86M | ▲ 3.8% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €267 | - |
| Profit (loss) for the period to be appropriated9905 | €1.17M | €1.25M | €1.42M | €1.80M | €1.86M | ▲ 3.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28.32M | €30.46M | €31.44M | €32.63M | €34.07M | ▲ 4.4% |
| Fixed assets21/28 | €26.35M | €29.26M | €30.26M | €30.77M | €31.03M | ▲ 0.8% |
| Tangible fixed assets22/27 | €25.36M | €28.27M | €29.27M | €29.78M | €31.03M | ▲ 4.2% |
| Land and buildings22 | €22.00M | €24.46M | €25.33M | €26.30M | €28.87M | ▲ 9.8% |
| Plant, machinery and equipment23 | €2.25M | €2.55M | €2.70M | €2.30M | €17k | ▼ 99.3% |
| Furniture and vehicles24 | €1.10M | €1.26M | €1.22M | €1.05M | €300k | ▼ 71.3% |
| Assets under construction and advance payments27 | - | - | €20k | €132k | €1.84M | ▲ 1,300% |
| Financial fixed assets28 | €989k | €988k | €988k | €996k | €400 | ▼ 100.0% |
| Current assets29/58 | €1.97M | €1.21M | €1.18M | €1.85M | €3.04M | ▲ 64.0% |
| Amounts receivable within one year40/41 | €290k | €199k | €408k | €357k | €619k | ▲ 73.2% |
| Trade receivables40 | €271k | €128k | €324k | €336k | €342k | ▲ 1.8% |
| Other amounts receivable41 | €19k | €71k | €84k | €21k | €277k | ▲ 1,195% |
| Cash at bank and in hand54/58 | €1.68M | €995k | €737k | €1.47M | €2.40M | ▲ 63.9% |
| Deferred charges and accrued income490/1 | €80 | €13k | €32k | €31k | €19k | ▼ 39.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28.32M | €30.46M | €31.44M | €32.63M | €34.07M | ▲ 4.4% |
| Equity10/15 | €7.13M | €8.38M | €9.80M | €11.59M | €13.95M | ▲ 20.3% |
| Contributions10/11 | €309k | €309k | €309k | €309k | €273k | ▼ 11.8% |
| Capital10 | €309k | €309k | €309k | €309k | €273k | ▼ 11.8% |
| Issued capital100 | €309k | €309k | €309k | €309k | €273k | ▼ 11.8% |
| Reserves13 | €6.82M | €8.07M | €9.49M | €11.28M | €13.67M | ▲ 21.1% |
| Non-distributable reserves130/1 | €31k | €31k | €31k | €31k | €27k | ▼ 11.8% |
| Legal reserve130 | €31k | €31k | €31k | €31k | €27k | ▼ 11.8% |
| Tax-exempt reserves132 | - | - | - | - | €20k | - |
| Distributable reserves133 | €6.79M | €8.04M | €9.46M | €11.25M | €13.62M | ▲ 21.0% |
| Profit (loss) carried forward14 | €386 | €192 | €1k | €2k | €6k | ▲ 242% |
| Amounts payable17/49 | €21.19M | €22.09M | €21.64M | €21.03M | €20.12M | ▼ 4.3% |
| Amounts payable after more than one year17 | €16.67M | €19.43M | €19.20M | €18.55M | €18.11M | ▼ 2.4% |
| Financial debts170/4 | €16.67M | €19.43M | €19.20M | €18.54M | €18.10M | ▼ 2.4% |
| Other amounts payable178/9 | - | - | - | €11k | €11k | = |
| Amounts payable within one year42/48 | €4.51M | €2.65M | €2.44M | €2.46M | €1.99M | ▼ 19.3% |
| Current portion of amounts payable after more than one year42 | €4.26M | €2.55M | €2.31M | €2.26M | €1.68M | ▼ 25.7% |
| Financial debts43 | - | - | - | €30k | €50k | ▲ 65.8% |
| Credit institutions430/8 | - | - | - | €30k | €50k | ▲ 65.8% |
| Trade debts44 | €211k | €69k | €83k | €109k | €152k | ▲ 39.8% |
| Suppliers440/4 | €211k | €69k | €83k | €109k | €152k | ▲ 39.8% |
| Taxes, remuneration and social security45 | €33k | €35k | €40k | €60k | €109k | ▲ 82.1% |
| Taxes450/3 | - | - | €3k | €27k | €109k | ▲ 301% |
| Remuneration and social security454/9 | €33k | €35k | €37k | €33k | €152 | ▼ 99.5% |
| Other amounts payable47/48 | €255 | €255 | €4k | €7k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €8k | €0 | - | €12k | €22k | ▲ 90.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.17M | €1.25M | €1.42M | €1.80M | €1.86M | ▲ 3.8% |
| + Depreciation and write-downs630 | €928k | €1.43M | €1.61M | €1.59M | €1.54M | ▼ 3.2% |
| Operating cash flow (approximation) | €2.09M | €2.68M | €3.03M | €3.38M | €3.40M | ▲ 0.5% |
| Investment in fixed assets (approximation) | - | €-4.34M | €-2.61M | €-2.10M | €-1.79M | ▲ 14.5% |
| Change in cash | - | €-684k | €-258k | €729k | €937k | ▲ 28.5% |
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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
05-02
State Gazette act
Capital & shares · Purpose · Statutes amendment · Resignations & appointments · RestructuringAppointments: MACHIELSEN Sven, VAN OIRSCHOT Ann and Ludovicus Van Oirschot · Demerger · Accounting effect11 facts ▸
State Gazette act
Capital & shares · Purpose · Statutes amendment · Resignations & appointments · Restructuring
Appointments: MACHIELSEN Sven, VAN OIRSCHOT Ann and Ludovicus Van Oirschot · Demerger · Accounting effect11 facts ▸
- General meeting, 31-12-2025
- Demerger, partial split by absorption, 30-06-2025
- Accounting effect, 01-07-2025
- Capital decrease, €42.260,23
- Capital, €272.508,74
- Purpose change, Het aan- en verkopen van onroerende goederen. Het beheren en oordeelkundig uitbreiden in de ruimste zin van het woord van een patrimonium, grotendeels bestaande…
- Statutes amendment
- Director appointment, MACHIELSEN Sven (class A director)
- Director appointment, VAN OIRSCHOT Ann (class A director)
- Director appointment, Ludovicus Van Oirschot (class B director)
- Power of attorney, V VH & P
2025
31-12
Financial
Highest result since 2018net €1.86M ▲3.8%
Operating result €1.74M, net result €1.86M, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.53
Current ratio from 0.75 to 1.53; short-term debt falls from €2.46M to €1.99M.
09-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €10MEq €11.59M ▲18.3%
6 profitable years in a row build equity to €11.59M.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €5MEq €5.96M ▲21.6%
2 profitable years in a row build equity to €5.96M.
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €1.52M
Net result €1.52M after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
29-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 16 acts read
About the unread acts
Of the 16 Belgian State Gazette acts we know for this company, 1 has been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2025
This board is reconstructed from a single act (26018690). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Ludovicus Van Oirschot
CurrentClass B director · since 31-12-2025
Sven Machielsen
CurrentClass A director · since 31-12-2025
VAN OIRSCHOT Ann
CurrentClass A director · since 31-12-2025
31-12-2025
Ludovicus Van Oirschot: Appointed as Class B director
31-12-2025
Sven Machielsen: Appointed as Class A director
31-12-2025
VAN OIRSCHOT Ann: Appointed as Class A director
Not every act has been read: a resignation may be missing here
15 of this company's 16 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Herentals · 2 establishment units since 1991
Ground area
5.1 ha
Building footprint
2.3 ha
Volume, LiDAR
226,836 m³
2 parcels, Flanders · tallest building 23.7 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
LVO Services nv
since 19912.055.279.748
Zavelheide(HRT) 2, 2200 Herentals
since 20212.319.833.291
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13302C0392/00B000 | Flanders | 3.6 ha | 1 · 1.4 ha | 23.7 m · 5 fl. |
| 13302C0358/00B000 | Flanders | 1.5 ha | 1 · 8,689 m² | 9.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
2 connected companiesLinked via shared directors
via Sven Machielsen · Chair
→
via Sven Machielsen · Vice-chair
→
Acquisitions and mergers
1 transactionSplit off to:VAN OIRSCHOT VERWARMINGSGROOTHANDEL
Capital and shareholders
Capital over the years
- 05-02-2026 Capital reduction of 42,260.23 EUR · to 272,508.74 EUR · reduction of fractional value of existing shares
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 14,015 EUR awarded · 14,015 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 4,755 EUR | 4,755 EUR |
| 2023 | 1 | 9,260 EUR | 9,260 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
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Identification & contact
Identification
Legal formPublic limited company
Founded14-11-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
70100Activities of head offices
Scores and ratios are computed by Checked and are not a credit decision.