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LEMA

Active
Private limited companyfounded 20224 yrs activeNelemeersstraat 55, 9830 Sint-Martens-Latem, BelgiumKBO/BCE: BE 0784.820.862
Summary

LEMA has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62.45M and a net result of €13.13M. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 85% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).

Checked score

Score 2025
71 / 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability46▲+1
Solvency100▲+1
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 4.9 against 3.95 in 2024; short-term debt: 14.7% and cash: 1.7% of total assets), and 20% of the assets are financed with debt.
Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.
lowers risk+raises riskneutral
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 date
Age against the risk zone
highest failure risk from 2 to 8 years 4 years 0 10 y
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
Sector 68
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 2025
Solvency, return and age of the figures
Solvency
80%
Return on assets
16.8%
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 22-07-2026, 9 days ahead of the deadline.
NBB · 4 filings
Deviation from the deadline
2025
9 d early
2024
18 d late
2023
28 d late
2022
7 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 months
Position in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Equity
€62.45M▲ 14.8%
2024 · €54.40M
2022: €44.55M 2023: €49.82M 2024: €54.40M
2022 → 2025
Total assets
€78.02M▲ 5.4%
2024 · €73.99M
2022: €59.27M 2023: €69.88M 2024: €73.99M
2022 → 2025
Net result
€13.13M▲ 41.9%
2024 · €9.26M
2022: €7.56M 2023: €6.42M 2024: €9.26M
2022 → 2025
Working capital
€44.69M▲ 15.1%
2024 · €38.81M
2022: €28.03M 2023: €35.41M 2024: €38.81M
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line2022202320242025Trend
Equity€44.55M-€49.82M▲ 11.8%€54.40M▲ 9.2%€62.45M▲ 14.8%
Operating result€176k-€53k▼ 69.7%€-47k€150k
Net result€7.56M-€6.42M▼ 15.2%€9.26M▲ 44.3%€13.13M▲ 41.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€-5.00M€0€5.00M€10.00M€15.00MOperating result 2022: €176k€176kNet result 2022: €7.56M€7.56MOperating result 2023: €53k€53kNet result 2023: €6.42M€6.42MOperating result 2024: €-47k€-47kNet result 2024: €9.26M€9.26MOperating result 2025: €150k€150kNet result 2025: €13.13M€13.13M2022202320242025€-5M€0€5M€10M€15MOperating result 2023: €53k€53kNet result 2023: €6.42M€6.4MOperating result 2024: €-47k€-47kNet result 2024: €9.26M€9.3MOperating result 2025: €150k€150kNet result 2025: €13.13M€13M202320242025
The operating result returns to profit in 2025: €150k after a loss of €47k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €78.02M
Fixed assets €21.88M ▼ 0.7%
Current assets €56.15M ▲ 8.1%
Equity and liabilities €78.02M
Equity €62.45M ▲ 14.8%
Provisions €15k ▼ 25.0%
Debt €15.55M ▼ 20.5%
Debt's share of the balance-sheet total falls from 26.5% to 19.9%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€609k
2024 · €414k
Cash flow
€13.59M
2024 · €9.72M
Current ratio
4.90
2024 · 3.95
Quick ratio
4.90
2024 · 3.95
Debt to equity
0.25
2024 · 0.36
ROE
21.0%
2024 · 17.0%
ROA
16.8%
2024 · 12.5%
Interest coverage
0.71
2024 · 1.30
Debt ≤ 1 year
€11.46M
2024 · €13.15M
Debt > 1 year
€3.83M
2024 · €6.23M
Income taxes
€779k
2024 · €1.27M
Staff costs
€408k
2024 · €245k
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 · 63 lines
Balance sheet Code20242025
Assets
Total assets20/58€73.99M€78.02M
Fixed assets21/28€22.03M€21.88M
Tangible fixed assets22/27€18.47M€18.31M
Land and buildings22€10.39M€9.95M
Furniture and vehicles24€8.08M€8.36M
Financial fixed assets28€3.56M€3.56M=
Current assets29/58€51.96M€56.15M
Stocks and contracts in progress3€18k€15k
Stocks30/36€18k€15k
Amounts receivable within one year40/41€25.51M€19.91M
Trade receivables40€118k€363k
Other amounts receivable41€25.39M€19.54M
Current investments50/53€24.83M€34.79M
Cash at bank and in hand54/58€1.50M€1.33M
Deferred charges and accrued income490/1€97k€108k
Equity and liabilities
Total equity and liabilities10/49€73.99M€78.02M
Equity10/15€54.40M€62.45M
Contributions10/11€3.82M€3.82M=
Reserves13€38.50M€39.41M
Non-distributable reserves130/1€174k€174k=
Other1319€174k€174k=
Tax-exempt reserves132€35k€26k
Distributable reserves133€38.29M€39.21M
Profit (loss) carried forward14€12.08M€19.22M
Provisions and deferred taxes16€20k€15k
Deferred taxes168€20k€15k
Amounts payable17/49€19.57M€15.55M
Amounts payable after more than one year17€6.23M€3.83M
Financial debts170/4€6.23M€3.83M
Amounts payable within one year42/48€13.15M€11.46M
Current portion of amounts payable after more than one year42€1.14M€1.39M
Trade debts44€82k€63k
Suppliers440/4€82k€63k
Taxes, remuneration and social security45€1.61M€1.87M
Taxes450/3€1.59M€1.84M
Remuneration and social security454/9€21k€29k
Other amounts payable47/48€10.31M€8.14M
Accrued charges and deferred income492/3€201k€264k
Income statement Code20242025
Non-recurring operating income76A€14k-
Remuneration, social security and pensions62€245k€408k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€461k€459k
Other operating charges640/8€86k€81k
Gross operating margin9900€745k€1.10M
Operating profit (loss)9901€-47k€150k
Financial income75/76B€10.89M€14.62M
Recurring financial income75€10.89M€14.62M
Financial charges65/66B€319k€862k
Recurring financial charges65€319k€862k
Profit (loss) for the period before taxes9903€10.53M€13.91M
Transfer from deferred taxes780€5k€5k=
Income taxes67/77€1.27M€779k
Profit (loss) for the period9904€9.26M€13.13M
Transfer from tax-exempt reserves789€9k€9k=
Profit (loss) for the period to be appropriated9905€9.27M€13.14M
Appropriation of the result
Profit (loss) to be appropriated9906€21.34M€25.22M
Profit (loss) brought forward from the previous period14P€12.08M€12.08M=
Transfer from equity791/2€4.62M€5.08M
Transfer to equity691/2€9.20M€6.00M
To other reserves6921€9.20M€6.00M
Profit to be distributed694/7€4.68M€5.08M
Return on contributions (dividend)694€4.62M€5.08M
Directors or managers695€62k-
Social balance
Average headcount (FTE)90872.33.5

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
22-07
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial Highest result since 2022net €13.13M ▲41.9%
Net result €13.13M, the highest in the series.
18-08
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
31-12
Financial Equity above €50MEq €54.40M ▲9.2%
3 profitable years in a row build equity to €54.40M.
28-08
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
31-12
Financial Weakest financial yearnet €6.42M ▼15.2%
Net result drops to €6.42M, the lowest in the series; recovery starts the following year.
24-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
State Gazette act Capital & shares · Restructuring
Demerger · Dissolution · Accounting effect15 facts ▸
  • General meeting, 08/06/2022
  • Demerger, LEMA NV
  • Demerger, LEMA NV
  • Dissolution, zonder vereffening
  • Accounting effect, 01/01/2022
  • Share issue, 761, 52.751,89 EUR
  • Capital increase, €40.144.188,75
  • Statutes amendment
  • Power of attorney, Tiberghien BV
  • Shareholder, LEMA
  • Shareholder, LEMA
  • Exchange ratio, 1:1:1
  • +3 further facts in this act
27-04
State Gazette act Restructuring · Miscellaneous
Demerger · Accounting effect · Real estate19 facts ▸
  • Demerger, LEMA NV
  • Demerger, LEMA NV
  • Accounting effect, 01/01/2022
  • Real estate, Elsene, Emile Duraylaan 2/4, appartement 'parties privatives 3' en garage 'Garage A'
  • Real estate, Antwerpen, Franklin Rooseveltplaats 8/18, kantoren op tweede verdieping
  • Real estate, Antwerpen, Franklin Rooseveltplaats 12, 'President Building', bureellokalen eerste verdieping en 7 autostaanplaatsen
  • Real estate, Gent, Kleine Vismarkt 3, handelspand
  • Real estate, Antwerpen, Graaf van Hoornestraat 2, commerciële ruimte gelijkvloers
  • Real estate, Gent, Zandberg 11/12, Residentie 'SANDHILL', garagebox 8 en parkeerplaatsen 1 en 2
  • Real estate, Brussel, Olivetenhof 3/7, handelspand
  • Real estate, Brussel, Kolenmarkt 93, investeringspand met bijgebouwen
  • Real estate, Brussel, Kolenmarkt 91, handelspand
  • +7 further facts in this act
15-04
State Gazette act Incorporation
Appointments: Michel Moortgat (non-statutory director) and Hotel Vanden Meersche (non-statutory director) · Permanent representative: Stéphanie Donck · Founder13 facts ▸
  • Incorporation, 13 april 2022
  • Founder, Michel Moortgat
  • Founder, Stéphanie Donck
  • Founding capital, €2.503,69
  • Capital, €2.503,69
  • Director appointment, Michel Moortgat (non-statutory director)
  • Director appointment, Hotel Vanden Meersche (non-statutory director)
  • Permanent representative, Stéphanie Donck
  • Director appointment, Michel Moortgat (managing director)
  • Mandate compensation, Michel Moortgat
  • Mandate compensation, Hotel Vanden Meersche
  • Capital contribution, €2.497,11
  • +1 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
2 directors, no change since 2022
DADA CHAPEL DISTILLERY
Non-statutory director · since 13-04-2022 · Public limited company · perm. rep.: Stéphanie Donck
Current
Michel Moortgat
Non-statutory director · since 13-04-2022
Current
13-04-2022 DADA CHAPEL DISTILLERY: Appointed as Non-statutory director
13-04-2022 Michel Moortgat: Appointed as Non-statutory director
13-04-2022 Michel Moortgat: Appointed as Managing director
Location & real-estate footprint
Registered office, Sint-Martens-Latem · 1 establishment unit since 2022
establishment The establishment unit on the map
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.

Nelemeersstraat 559830 Sint-Martens-Latem
Ground area
4,924 m²
Building footprint
355 m²
Volume, LiDAR
1,796 m³
Parcel 44064A0195/00E000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LEMA
Nelemeersstraat 55, 9830 Sint-Martens-LatemReal estate activities
since 20222.331.080.343
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44064A0195/00E000 Flanders 4,924 m² 1 · 355 m² 9.4 m · 2 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.

Articles of association

Purpose
De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, zowel in eigen naam en/of voor eigen rekening als in naam en/of voor rekening van derden, alleen of in…
Full purpose

De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, zowel in eigen naam en/of voor eigen rekening als in naam en/of voor rekening van derden, alleen of in samenwerking met derden: 1. Het bij wijze van inschrijving, inbreng, fusie, samenwerking, financiële tussenkomst of anderszins verwerven van een belang of deelneming in alle bestaande of nog op te richten vennootschappen, ondernemingen, bedrijvigheden of verenigingen, zonder onderscheid in België of in het buitenland. 2. Administratie, consultancy, IT diensten, begeleiden van bedrijven en managementactiviteiten. 3. Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals onder meer erfpacht- en opstalrechten , het aankopen en verkopen zowel in volle eigendom als in vruchtgebruik en/of blote eigendom, ruilen, doen bouwen, doen verbouwen, onderhouden, verhuren, huren, verkavelen, prospecteren en uitbaten van onroerende goederen, de aan- en verkoop, huur en verhuur van roerende goederen betreffende de inrichting en uitrusting van onroerende goederen, alsmede alle handelingen die rechtstreeks of onrechtstreeks betrekking hebben op het commercieel, technisch en/of administratief beheer, de valorisering voor zichzelf of voor derden van alle onroerende bebouwde en niet-bebouwde eigendommen, alle onderzoeken en schattingen verrichten, alle administratieve toelatingen vragen, alle lastenkohieren opstellen, alle architecten- en/of aannemingscontracten sluiten en alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en van die aard zijn dat ze de opbrengsten van de roerende en onroerende goederen bevorderen. 4. Het aanleggen, het oordeelkundig uitbouwen en beheren van een roerend patrimonium (zo onder meer kunst en andere waardevolle objecten), alle verrichtingen met betrekking tot roerende goederen en rechten, van welke aard ook, zoals het verwerven door inschrijving of aankoop en het beheren van aandelen, obligaties, kasbons of andere roerende waarden, van welke vorm ook, van Belgische of buitenlandse, bestaande of nog op te richten rechtspersonen en ondernemingen. Het voeren van onderzoek, uitbouwen van expertise en het verlenen van advies in dit verband. 5. Alle verrichtingen die betrekking hebben op de groot- en kleinhandel, export en import, de commissionering van schoenen, leder- en textielwaren en andere consumptiegoederen. 6. Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren, onder om het even welke vorm; in dit kader kan zij alle handels- en financiële operaties verrichten behalve deze die wettelijk voorbehouden zijn aan depositobanken, houders van deposito’s op korte termijn, spaarkassen, hypotheekmaatschappijen en kapitalisatieondernemingen. Ter verwezenlijking van bovenstaande activiteiten is het de vennootschap eveneens toegestaan om alle activiteiten waaronder begrepen aangaande cashmanagement en factoring en activiteiten die er rechtstreeks of onrechtstreeks mee verband houden uit te oefenen zowel ten voordele van zichzelf, van rechtspersonen waarvan de vennootschap aandelen aanhoudt en van alle particulieren, rechtspersonen en ondernemingen die rechtstreeks of onrechtstreeks worden gecontroleerd door dezelfde aandeelhouder als degene die de vennootschap direct of indirect controleert, alsook ten voordele van andere rechtspersonen en ondernemingen. Aangaande al het voorgaande handelt de vennootschap voor eigen rekening, in commissie, als tussenpersoon of als vertegenwoordiger. Zij mag haar onroerende goederen in hypotheek stellen en al haar andere goederen, met inbegrip van het handelsfonds, in pand stellen, zij mag zich borgstellen en aval verlenen voor alle leningen, kredietopeningen en andere verbintenissen zowel voor haarzelf als voor alle derden op voorwaarde dat zij er zelf belang bij heeft. De vennootschap kan alle opdrachten waarnemen met betrekking tot het bestuur, het beheer, de directie, de controle en de vereffening van alle vennootschappen en ondernemingen. Bovenvermelde opsomming is niet beperkend, zodat de vennootschap alle commerciële, industriële, financiële, onroerende en roerende activiteiten kan verrichten, die rechtstreeks of onrechtstreeks verband houden met haar voorwerp of die van aard zijn haar ontwikkeling te bevorderen, met uitzondering van de verrichtingen op roerend en onroerende waarden door de wet voorbehouden aan de banken en de beursvennootschappen.

Structure & network

Connections & network

9 connected companies

Ownership & control

4 board mandates
Board mandates of this companythis company sits on their board4

Acquisitions and mergers

1 transaction
Received in a demerger part of:LEMA NV
BE 0463.212.513State Gazette act of 08-07-2022 (2 acts)

Capital and shareholders

Shareholders according to the acts
At incorporation act of 15-04-2022 ↗
  • Michel Moortgat 759 shares · 2,497.11 EUR
  • Stéphanie Donck 2 shares · 6.58 EUR

The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years
  1. 08-07-2022 Capital increase of 40,144,188.75 EUR · to 40,146,692.44 EUR
  2. 15-04-2022 Incorporation · 2,503.69 EUR · 761 shares

Recognitions · licences · registrations

Legal Entity Identifier

699400R7I14PLWXLUM24
live in the LEI register

Similar companies · same sector, comparable size

Of 7,320 companies in sector 68110 we hold annual accounts for 5,381. 267 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification
Legal formPrivate limited company
Founded13-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.