ACTIVE

LCEBE

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Financial year 2025 · closed on 31/12/2025

Net result

496,4 k €

+302.0% YoY

Gross margin

6,7 M €

+25.1% YoY

Equity

68,6 M €

-0.0% YoY

Workforce

4,8 ETP

+11.6% YoY

What does LCEBE do?

LCEBE is a Public limited company incorporated in 1980. Its main activity is: Development of building projects. Its registered office is in Auderghem. It employs on average 4,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0420.832.520

Incorporation

09/07/1980

Legal form

Public limited company

Registered office

Drève du Prieuré 25
1160 Auderghem · BruxellesSee on map

Contributed capital

17 382 930,00 €

Latest accounts

31/12/2025

Average workforce

4,8 ETP

Activities (NACE)

41102Development of building projects· main 68122Buying and selling of own real estate 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate 70112Activities of head offices 70203Management consultancy activities

Joint committees (1)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	6,7 M €	+25.1%	5,4 M €	+12.2%	4,8 M €	-77.5%	21,3 M €	+374%	4,5 M €	+7.0%	4,2 M €	-5.0%	4,4 M €	+12.9%	3,9 M €	-11.2%	4,4 M €	+3.4%	4,3 M €	+40.6%	3 M €	-2.6%	3,1 M €	+2.7%	3 M €	+0.3%	3 M €	-3.4%	3,1 M €	-26.1%	4,2 M €	-25.7%	5,7 M €	+53.8%	3,7 M €
EBITDA	4,8 M €	+31.5%	3,6 M €	+23.1%	2,9 M €	-85.1%	19,8 M €	+545%	3,1 M €	+5.2%	2,9 M €	-8.5%	3,2 M €	+17.8%	2,7 M €	-7.7%	2,9 M €	+38.0%	2,1 M €	+21.3%	1,8 M €	-4.5%	1,8 M €	-3.4%	1,9 M €	-1.2%	1,9 M €	+9.6%	1,8 M €	-51.1%	3,6 M €	-27.5%	4,9 M €	+66.5%	3 M €
Operating result	993,2 k €	+1869%	50,5 k €	+107%	-688,7 k €	-104%	16,9 M €	+19266%	87,2 k €	-86.7%	655,6 k €	-32.2%	967,3 k €	+81.5%	532,8 k €	-42.3%	924 k €	+402%	184 k €	+32.9%	138,5 k €	-56.2%	316,4 k €	-44.1%	565,8 k €	+2.1%	554,2 k €	-9.6%	612,8 k €	-75.0%	2,5 M €	-31.6%	3,6 M €	+112%	1,7 M €
Net result	496,4 k €	+302%	123,5 k €	+125%	-486,4 k €	-104%	12,7 M €	+7380%	170 k €	-31.7%	248,8 k €	-77.8%	1,1 M €	+164%	424,9 k €	-53.3%	909,5 k €	-81.4%	4,9 M €	+580%	719,7 k €	-35.7%	1,1 M €	-5.8%	1,2 M €	+11.3%	1,1 M €	-10.5%	1,2 M €	-51.0%	2,4 M €	-23.7%	3,2 M €	+39.4%	2,3 M €
Balance sheet
Equity	68,6 M €	-0.0%	68,6 M €	+0.4%	68,4 M €	-0.6%	68,8 M €	+22.5%	56,1 M €	+0.1%	56,1 M €	+0.2%	55,9 M €	+1.8%	54,9 M €	+0.6%	54,6 M €	+1.7%	53,7 M €	+10.0%	48,8 M €	+1.3%	48,2 M €	+2.1%	47,2 M €	+2.3%	46,1 M €	+2.1%	45,2 M €	+2.7%	44 M €	+5.9%	41,5 M €	+8.3%	38,4 M €
Total assets	103,3 M €	+4.1%	99,2 M €	+1.5%	97,7 M €	+12.4%	87 M €	+20.1%	72,4 M €	-19.8%	90,3 M €	+9.1%	82,8 M €	+4.2%	79,4 M €	+13.2%	70,2 M €	+12.4%	62,4 M €	+24.5%	50,1 M €	+0.6%	49,8 M €	+3.4%	48,2 M €	+2.1%	47,2 M €	+1.4%	46,6 M €	+2.5%	45,4 M €	+5.8%	43 M €	+8.7%	39,5 M €
Cash	134,1 k €	+23.7%	108,5 k €	+101%	53,9 k €	-98.6%	3,9 M €	+719%	477,4 k €	-84.8%	3,1 M €	+3654%	83,8 k €	-53.7%	181 k €	-54.5%	398,3 k €	+42.2%	280 k €	-23.3%	365,2 k €	+29.9%	281,1 k €	-68.5%	891 k €	+251%	253,7 k €	-49.1%	498,7 k €	-90.2%	5,1 M €	+1035%	449,7 k €	-6.2%	479,7 k €
Debts	30,6 M €	+15.7%	26,5 M €	+5.5%	25,1 M €	+82.5%	13,8 M €	-14.1%	16 M €	-52.9%	34 M €	+28.6%	26,4 M €	+10.1%	24 M €	+58.5%	15,1 M €	+85.5%	8,2 M €	+962%	768,8 k €	-22.0%	985,3 k €	+161%	377,5 k €	-9.1%	415,4 k €	-31.0%	601,6 k €	+33.6%	450,2 k €	+161%	172,7 k €	-69.6%	568,2 k €
Other
Workforce	4,8 ETP	+11.6%	4,3 ETP	+7.5%	4,0 ETP	+100%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	-13.0%	2,3 ETP	-20.7%	2,9 ETP	+45.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	+186%	0,7 ETP	+75.0%	0,4 ETP	0.0%	0,4 ETP	-33.3%	0,6 ETP	-40.0%	1,0 ETP	0.0%	1,0 ETP	-16.7%	1,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 9 active · 36 ended

Active mandates

Baudouin Paquot

Director · since 30 juin 2025 · until 26 juin 2031 · 0840.859.940

Represented by Baudouin Paquot

Active

Deux L

Director · since 30 juin 2025 · until 26 juin 2031 · 0838.177.295

Represented by Yaël Lloret

Active

LPB

Director · since 30 juin 2025 · until 26 juin 2031 · 0890.097.635

Represented by Laurent Puissant

Active

Mathilde ZURSTRASSEN

Director · since 30 juin 2025 · until 26 juin 2031

Active

Vincent Doumier

Director · since 30 juin 2025 · until 26 juin 2031 · 0502.670.529

Represented by Vincent Doumier

Active

Gaël CRUYSMANS

Director · since 04 septembre 2023 · until 28 juin 2029

Active

Clémence de BELLEFROID

Director · since 30 juin 2021 · until 30 juin 2025

Active

Juliette de BELLEFROID

Director · since 30 juin 2021 · until 30 juin 2025

Active

Sophie LE CLERCQ

Managing director · since 30 juin 2021 · until 24 juin 2027

Active

Ended mandates

Gaël CRUYSMANS

Director · since 04 septembre 2023 · until 30 juin 2025

Ended

Clémence de BELLEFROID

Director · since 30 juin 2021 · until 24 juin 2027

Ended

Juliette de BELLEFROID

Director · since 30 juin 2021 · until 24 juin 2027

Ended

Mathilde Zurstrassen

Director · since 29 juillet 2019 · until 17 avril 2025

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/07/2026	22/07/2025	18/07/2024	27/07/2023	18/07/2022	28/07/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	06/07/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	22/07/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	18/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	27/07/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	18/07/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	28/07/2021	French	PDF
Abridged model	31/12/2019	08/10/2020	02/11/2020	French	PDF
Abridged modelCorrection	31/12/2018	29/07/2019	20/12/2019	French	PDF
Abridged model	31/12/2018	29/07/2019	31/07/2019	French	PDF
Abridged model	31/12/2017	22/10/2018	31/10/2018	French	PDF
Abridged model	31/12/2016	12/12/2017	12/12/2017	French	PDF
Abridged model	31/12/2015	05/10/2016	05/10/2016	French	PDF
Abridged model	31/12/2014	29/05/2015	08/06/2015	French	PDF
Abridged model	31/12/2013	03/06/2014	12/06/2014	French	PDF
Abridged model	31/12/2012	02/09/2013	04/09/2013	French	PDF
Abridged model	31/12/2011	25/09/2012	25/09/2012	French	PDF
Abridged model	31/12/2010	07/11/2011	07/11/2011	French	PDF
Abridged model	31/12/2009	15/11/2010	24/11/2010	French	PDF
Abridged model	31/12/2008	14/05/2009	30/07/2009	French	PDF
Abridged model	31/12/2007	24/04/2008	18/08/2008	French	PDF
Abridged model	31/12/2006	26/04/2007	20/09/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 9 active · 36 ended

Active mandates

Baudouin Paquot

Director · since 30 juin 2025 · until 26 juin 2031 · 0840.859.940

Represented by Baudouin Paquot

Active

Deux L

Director · since 30 juin 2025 · until 26 juin 2031 · 0838.177.295

Represented by Yaël Lloret

Active

LPB

Director · since 30 juin 2025 · until 26 juin 2031 · 0890.097.635

Represented by Laurent Puissant

Active

Mathilde ZURSTRASSEN

Director · since 30 juin 2025 · until 26 juin 2031

Active

Vincent Doumier

Director · since 30 juin 2025 · until 26 juin 2031 · 0502.670.529

Represented by Vincent Doumier

Active

Gaël CRUYSMANS

Director · since 04 septembre 2023 · until 28 juin 2029

Active

Clémence de BELLEFROID

Director · since 30 juin 2021 · until 30 juin 2025

Active

Juliette de BELLEFROID

Director · since 30 juin 2021 · until 30 juin 2025

Active

Sophie LE CLERCQ

Managing director · since 30 juin 2021 · until 24 juin 2027

Active

Ended mandates

Gaël CRUYSMANS

Director · since 04 septembre 2023 · until 30 juin 2025

Ended

Clémence de BELLEFROID

Director · since 30 juin 2021 · until 24 juin 2027

Ended

Juliette de BELLEFROID

Director · since 30 juin 2021 · until 24 juin 2027

Ended

Mathilde Zurstrassen

Director · since 29 juillet 2019 · until 17 avril 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring17/08/2026
OPERATION ASSIMILEE A UNE FUSION PAR ABSORPTION DE LA
PDF
Restructuring29/05/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates24/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates14/10/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring13/01/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring06/11/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other21/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
PDF
Mandates07/12/2023
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025496,4 k €↑
13/11/2025
nominationGaël Cruysmans — administrateur
30/06/2025
reconductionMathilde Zurstrassen — administrateur
30/06/2025
nominationVincent Doumier srl — administrateur
30/06/2025
nominationDeux L srt — administrateur
30/06/2025
nominationLPM srl — administrateur
30/06/2025
nominationBaudouin Paquot srl — administrateur
2024
Annual accounts 2024123,5 k €↑
2023
Annual accounts 2023-486,4 k €↓
04/09/2023
nominationGaël Cruysmans — administrateur
2022
Annual accounts 202212,7 M €↑
2021
Annual accounts 2021170 k €↓
2020
Annual accounts 2020248,8 k €↓
2019
Annual accounts 20191,1 M €↑
2018
Annual accounts 2018424,9 k €↓
2017
Annual accounts 2017909,5 k €↓
2016
Annual accounts 20164,9 M €↑
2015
Annual accounts 2015719,7 k €↓
2014
Annual accounts 20141,1 M €↓
2013
Annual accounts 20131,2 M €↑
2012
Annual accounts 20121,1 M €↓
2011
Annual accounts 20111,2 M €↓
2010
Annual accounts 20102,4 M €↓
2009
Annual accounts 20093,2 M €↑
2008
Annual accounts 20082,3 M €
09/07/1980
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

LCEBE

Overview

What does LCEBE do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline