Active BE 0894.883.693Private limited company

LES LACS

Place de l'Hôtel de Ville(Wal) 13 ·5650 Walcourt, Belgium· 18 yrs active

Sector: Renting and operating of own or leased non-residential real estate, excluding land (68203)

Conclusion Checked

LES LACS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €562k and a net result of €46k. Equity is growing by ~35.7% per year across the filed fiscal years. Its solvency ranks better than 68% of 781 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).

Based on the State Gazette, CBE and 7 annual accounts.

Key figures

Equity	€562k
Net result	€46k
Better than sector	68%
Active	18 yrs

Financial profile 5 of 5 axes measured · computed by Checked

71 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 79

Profitability 41

Solvency 85

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.3% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2008, 18 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

79 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€45k

estimate, not credit advice

Score history

53 2018

73 2019

88 2020

68 2021

53 2022

94 2023

79 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 5.09 (≥ 1.5) +10

Quick ratio Quick ratio 5.09 (≥ 1.0) +5

Leverage Debt/equity 1.28 (< 2.0) +3

Profitability ROE 8% +3

Interest coverage Interest coverage 5.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview16 NBB filings

Annual accounts filed on 05-11-2025 with the NBB · fiscal year 2024 · full schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~35.7%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 68, Real estate activities · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	39.1%	16.4%	better than 68% of 781 sector peers
Net result	€46k	€-2k	better than 74% of 779 sector peers
Equity	€562k	€136k	better than 66% of 781 sector peers
Gross operating margin	€128k	€45k	better than 68% of 613 sector peers
Total assets	€1.44M	€1.71M	better than 47% of 781 sector peers

EBITDA

€121k

-83.0% 18-24

Net profit

€46k

-90.7% 18-24

Cash flow

€86k

-83.8% 18-24

Total assets

€1.44M

-2.1% 18-24

Equity

€562k

+8.9% 18-24

Working capital

€387k

+6.8% 18-24

Employees (FTE)

3

-45.7% 18-24

Staff costs

€73k

-53.2% 18-24

Income taxes

€13k

+21.3% 18-24

Dividends

€180k

+28.6% 18-24

Debt

€720k

-9.5% 18-24

Debt ≤ 1y

€95k

-14.6% 18-24

Debt > 1y

€626k

-8.7% 18-24

Current ratio

5.09

+19.2% 18-24

Quick ratio

5.09

+19.2% 18-24

Solvency

39.1%

+11.2% 18-24

Debt / equity

1.28

-16.9% 18-24

ROE

8.2%

-91.5% 18-24

ROA

3.2%

-90.5% 18-24

Interest coverage

5.20

-87.0% 18-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022	2021	2020
Deposit	full schema	full schema	full schema	full schema	full schema
Revenue	-	-	-	-	-
EBITDA	€121k	€709k	€179k	€147k	€140k
Net profit	€46k	€495k	€100k	€71k	€106k
Cash flow	€86k	€528k	€145k	€112k	€151k
Staff costs	-	€73k	€155k	€185k	-
Income taxes	€13k	€11k	€29k	€32k	€29k
Dividends	-	€180k	€140k	-	-
Total assets	€1.44M	€1.47M	€1.17M	€1.17M	€792k
Equity	€562k	€516k	€201k	€241k	€170k
Debt	€720k	€796k	€970k	€933k	€622k
of which ≤ 1y	€95k	€111k	€744k	€738k	€462k
of which > 1y	€626k	€685k	€226k	€195k	€160k
Working capital	€387k	€362k	€-56k	€22k	€16k
Employees (FTE)	-	2.5	4.6	6.0	6.7

Ratios (computed)

	2024	2023	2022	2021	2020
Current ratio	5.09	4.27	0.92	1.03	1.03
Quick ratio	5.09	4.27	0.92	1.03	1.03
Working capital ratio	26.9%	24.6%	-4.8%	1.9%	2.0%
Solvency	39.1%	35.1%	17.1%	20.5%	21.5%
Debt / equity	1.28	1.54	4.83	3.87	0.94
Long-term debt ratio	1.11	1.33	1.13	0.81	0.94
Interest coverage	5.20	40.09	35.40	46.04	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	3.2%	33.7%	8.5%	6.0%	13.3%
ROE	8.2%	96.0%	49.6%	29.4%	62.0%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €958k · 66.6% Current assets €481k · 33.4%

Equity & liabilities

Equity €562k · 39.1% Provisions €157k · 10.9% Debt €720k · 50.0%

Full annual accounts (27 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022	2021	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.44M	€1.47M	€1.17M	€1.17M	€792k
Fixed assets	21/28	€958k	€998k	€483k	€414k	€314k
Formation expenses	20	-	-	€1	-	-
Intangible fixed assets	21	-	-	€38k	€46k	€53k
Tangible fixed assets	22/27	€958k	€998k	€442k	€363k	€256k
Financial fixed assets	28	€168	€168	€2k	€5k	€5k
Current assets	29/58	€481k	€473k	€688k	€760k	€478k
Amounts receivable within one year	40/41	€363k	€322k	€49k	€65k	€89k
Investments	50/53	€118k	€150k	€638k	€695k	€389k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.44M	€1.47M	€1.17M	€1.17M	€792k
Equity	10/15	€562k	€516k	€201k	€241k	€170k
Contributions / capital	10/11	€19k	€19k	€19k	€19k	-
Reserves	13	€494k	€497k	€180k	€180k	€109k
Accumulated profits (losses)	14	€50k	€266	€2k	€43k	€43k
Provisions & deferred taxes	16	€157k	€158k	-	-	-
Amounts payable	17/49	€720k	€796k	€970k	€933k	€622k
Amounts payable after one year	17	€626k	€685k	€226k	€195k	€160k
Amounts payable within one year	42/48	€95k	€111k	€744k	€738k	€462k
Trade debts payable within one year	44	€4k	€15k	€60k	€91k	€39k
Income statement
Gross operating margin	9900	€128k	€799k	€347k	€338k	€309k
Operating result	9901	€81k	€676k	€134k	€106k	€95k
Financial income	75	€224	€7k	€1	€0	€773
Financial charges	65	€23k	€18k	€5k	€3k	€3k
Result before taxes	9903	€58k	€665k	€128k	€102k	€92k
Income taxes	67/77	€13k	€11k	€29k	€32k	€29k
Net result for the period	9904	€46k	€495k	€100k	€71k	€63k
Result to be appropriated	9905	€50k	€21k	€100k	€71k	€63k

Legal Structure

NACE primary	Renting and operating of own or leased non-residential real estate, excluding land(68203)
Legal form	Private limited company(610)
Incorporation	14-01-2008
Status	Active
Postal code	5650

Establishment units 1 location

LES LACS

Place de l'Hôtel de Ville(Wal) 13, 5650 WalcourtReal estate development

since 20082.169.749.349

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
93088C0537/00A000	Wallonia	244 m²	1 · 120 m²	-

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.

Updates 10 events

All 17Financial 7Filings 10

2025

05-11

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 97 days late

2024

31-12

Financial Weakest financial yearnet €46k ▼90.7%

Net result drops to €46k, the lowest in the series.

08-10

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 69 days late

2023

31-12

Financial Highest result since 2018net €495k ▲397%

Operating result €676k, net result €495k, both a record.

31-12

Financial Liquidity times 5current ratio 4.27

Current ratio from 0.92 to 4.27; short-term debt falls from €744k to €111k.

31-12

Financial Equity above €500kEq €516k ▲157%

6 profitable years in a row build equity to €516k.

30-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 30 days late

2022

26-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 26 days late

2021

31-12

Financial Equity above €200kEq €241k ▲41.6%

4 profitable years in a row build equity to €241k.

09-09

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 40 days late

2020

31-12

Financial Equity above €150kEq €170k ▲58.8%

3 profitable years in a row build equity to €170k.

30-10

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 91 days late

2019

31-12

Financial Equity above €100kEq €107k ▲11.3%

2 profitable years in a row build equity to €107k.

31-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 31 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 29 days late

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 31 days late

2016

31-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 31 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 5 acts read

We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Renting and operating of own or leased non-residential real estate, excluding land68203Buying and selling of own real estate68110Renting and operating of own or leased residential real estate, excluding social housing68201Activities of head offices70100Other business support services82990

Names & trade names

Legal nameFR

LES LACS

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