ACTIVE

LMF

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Financial year 2025 · closed on 31/12/2025

Net result

8,7 k €

-84.9% YoY

Gross margin

603,5 k €

-16.6% YoY

Equity

726,3 k €

-25.6% YoY

Workforce

7,4 ETP

-5.1% YoY

What does LMF do?

LMF is a Public limited company incorporated in 1985. Its registered office is in Herk-de-Stad. It employs on average 7,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.674.681

Incorporation

22/08/1985

Legal form

Public limited company

Registered office

Industrieweg 1132
3540 Herk-de-Stad · FlandreSee on map

Contributed capital

223 298,36 €

Latest accounts

31/12/2025

Average workforce

7,4 ETP

Joint committees (2)

14904
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	603,5 k €	-16.6%	723,6 k €	+10.4%	655,2 k €	-11.8%	742,8 k €	+19.9%	619,3 k €	+19.7%	517,6 k €	-37.7%	830,9 k €	+17.8%	705,5 k €	+14.7%	615 k €	+7.8%	570,3 k €	+20.1%	475 k €	+14.0%	416,6 k €	+1.6%	410,1 k €	-11.3%	462,1 k €	+4.5%	442,2 k €	+9.3%	404,7 k €	-3.7%	420,1 k €	-9.6%	464,6 k €	+7.7%	431,3 k €	+12.8%	382,4 k €
EBITDA	34,3 k €	-74.7%	135,2 k €	-19.5%	168 k €	-38.0%	270,9 k €	+62.9%	166,3 k €	+157%	64,6 k €	-59.0%	157,5 k €	+3.8%	151,7 k €	-0.2%	152 k €	-8.9%	166,9 k €	+53.4%	108,8 k €	+21.6%	89,5 k €	-20.0%	111,8 k €	-25.5%	150,1 k €	-18.6%	184,5 k €	+183%	65,2 k €	+373%	13,8 k €	-84.7%	90,2 k €	+0.8%	89,5 k €	+998%	8,1 k €
Operating result	7,3 k €	-90.6%	77,6 k €	+66.7%	46,5 k €	-75.1%	186,9 k €	+133%	80,1 k €	+41434%	192,9 €	-99.8%	80 k €	+6.5%	75,1 k €	-2.2%	76,8 k €	-19.4%	95,2 k €	+285%	24,7 k €	+110%	11,8 k €	-80.4%	60,2 k €	-40.0%	100,3 k €	-30.5%	144,4 k €	+775%	16,5 k €	+142%	-39,4 k €	-201%	39,1 k €	-29.0%	55 k €	+327%	-24,2 k €
Net result	8,7 k €	-84.9%	57,5 k €	+150%	23 k €	-81.8%	126,4 k €	+118%	57,9 k €	+565%	-12,5 k €	-124%	52,9 k €	+17.3%	45,1 k €	+5.4%	42,8 k €	-14.7%	50,2 k €	+1103%	4,2 k €	-70.9%	14,3 k €	-59.3%	35,2 k €	-45.5%	64,7 k €	-37.8%	103,9 k €	+2156%	4,6 k €	+109%	-50,8 k €	-475%	13,5 k €	-59.1%	33,1 k €	+162%	-53,1 k €
Balance sheet
Equity	726,3 k €	-25.6%	976 k €	-0.3%	978,5 k €	-0.9%	987,4 k €	+14.7%	861,1 k €	+6.6%	808,1 k €	-1.5%	820,6 k €	+6.9%	767,7 k €	+6.2%	722,6 k €	+6.3%	679,8 k €	+8.0%	629,6 k €	+0.7%	625,5 k €	+2.3%	611,1 k €	+1.6%	601,4 k €	+12.0%	536,8 k €	+24.0%	432,9 k €	+1.1%	428,3 k €	-10.6%	479 k €	+2.9%	465,5 k €	+7.7%	432,4 k €
Total assets	1,2 M €	-17.0%	1,5 M €	+0.3%	1,5 M €	-5.0%	1,6 M €	+2.8%	1,5 M €	+6.5%	1,4 M €	-7.9%	1,6 M €	-3.7%	1,6 M €	-8.7%	1,8 M €	+12.8%	1,6 M €	+4.5%	1,5 M €	+25.3%	1,2 M €	+2.9%	1,2 M €	+8.4%	1,1 M €	+2.4%	1,1 M €	+1.9%	1 M €	+1.4%	1 M €	-1.1%	1 M €	+9.3%	944,8 k €	-8.0%	1 M €
Cash	79,5 k €	-31.8%	116,7 k €	+62.6%	71,8 k €	-38.2%	116,1 k €	+121%	52,4 k €	-26.1%	70,9 k €	-40.1%	118,4 k €	-17.3%	143,2 k €	-18.6%	175,8 k €	+79.2%	98,1 k €	+45.6%	67,4 k €	-28.8%	94,7 k €	+26.6%	74,8 k €	+44.8%	51,6 k €	-54.7%	113,9 k €	+113%	53,4 k €	-43.0%	93,7 k €	-15.3%	110,6 k €	+38.1%	80,1 k €	+209%	26 k €
Debts	419,3 k €	-20.5%	527,3 k €	+8.7%	485,3 k €	-17.8%	590,2 k €	-12.5%	674,5 k €	+6.5%	633,1 k €	-15.0%	744,7 k €	-13.2%	857,9 k €	-18.9%	1,1 M €	+17.7%	898,8 k €	+2.1%	880,3 k €	+51.9%	579,4 k €	+3.5%	559,6 k €	+17.0%	478,5 k €	-7.6%	517,8 k €	-14.0%	602 k €	+1.7%	592,1 k €	+7.1%	552,8 k €	+15.5%	478,5 k €	-19.2%	591,9 k €
Other
Workforce	7,4 ETP	-5.1%	7,8 ETP	+6.8%	7,3 ETP	-1.4%	7,4 ETP	-2.6%	7,6 ETP	-10.6%	8,5 ETP	-29.2%	12,0 ETP	+11.1%	10,8 ETP	+21.3%	8,9 ETP	+2.3%	8,7 ETP	+8.7%	8,0 ETP	+15.9%	6,9 ETP	-4.2%	7,2 ETP	+4.3%	6,9 ETP	+3.0%	6,7 ETP	-16.2%	8,0 ETP	-5.9%	8,5 ETP	-6.6%	9,1 ETP	+16.7%	7,8 ETP	-12.4%	8,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 18 ended

Active mandates

Ludo Michiels

Director · since 25 mai 2016

Active

Marc Forier

Director · since 25 mai 2016

Active

Sven Michiels

Director · since 25 mai 2016

Active

Ended mandates

Ludo Michiels

Managing director · since 25 mai 2022 · until 25 mai 2028

Ended

Marc Forier

Managing director · since 25 mai 2022 · until 25 mai 2028

Ended

Sven Michiels

Director · since 25 mai 2022 · until 25 mai 2028

Ended

Ludo Michiels

Managing director · since 25 mai 2016 · until 25 mai 2022

Ended

At this address

Other companies at this address

Company	CBE no.
LMF Eenheid● Active	1037.726.487
LMF IMMO● Active	1031.112.968

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	26/06/2026	01/04/2025	01/07/2024	10/07/2023	20/07/2022	20/08/2021
General meeting	25/06/2026	13/03/2025	29/05/2024	31/05/2023	31/05/2022	26/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	25/06/2026	26/06/2026	Dutch	PDF
Abridged model	31/12/2024	13/03/2025	01/04/2025	Dutch	PDF
Abridged model	31/12/2023	29/05/2024	01/07/2024	Dutch	PDF
Abridged model	31/12/2022	31/05/2023	10/07/2023	Dutch	PDF
Abridged model	31/12/2021	31/05/2022	20/07/2022	Dutch	PDF
Abridged model	31/12/2020	26/05/2021	20/08/2021	Dutch	PDF
Abridged model	31/12/2019	27/05/2020	03/07/2020	Dutch	PDF
Abridged model	31/12/2018	29/05/2019	05/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/05/2018	10/07/2018	Dutch	PDF
Abridged model	31/12/2016	31/05/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	25/05/2016	06/07/2016	Dutch	PDF
Abridged model	31/12/2014	27/05/2015	10/07/2015	Dutch	PDF
Abridged model	31/12/2013	28/05/2014	04/07/2014	Dutch	PDF
Abridged model	31/12/2012	29/05/2013	11/07/2013	Dutch	PDF
Abridged model	31/12/2011	23/05/2012	10/07/2012	Dutch	PDF
Abridged model	31/12/2010	25/05/2011	27/07/2011	Dutch	PDF
Abridged model	31/12/2009	26/05/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	27/05/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	28/05/2008	11/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/05/2007	11/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 3 active · 18 ended

Active mandates

Ludo Michiels

Director · since 25 mai 2016

Active

Marc Forier

Director · since 25 mai 2016

Active

Sven Michiels

Director · since 25 mai 2016

Active

Ended mandates

Ludo Michiels

Managing director · since 25 mai 2022 · until 25 mai 2028

Ended

Marc Forier

Managing director · since 25 mai 2022 · until 25 mai 2028

Ended

Sven Michiels

Director · since 25 mai 2022 · until 25 mai 2028

Ended

Ludo Michiels

Managing director · since 25 mai 2016 · until 25 mai 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring27/08/2024
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates14/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/09/2016
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares19/02/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares23/04/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/01/2010
ONTSLAGEN - BENOEMINGEN
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 20258,7 k €↓
2024
Annual accounts 202457,5 k €↑
2023
Annual accounts 202323 k €↓
2023
Name changeLMF
2022
Annual accounts 2022126,4 k €↑
2021
Annual accounts 202157,9 k €↑
2021
Name changeAuto LMF
2020
Annual accounts 2020-12,5 k €↓
2019
Annual accounts 201952,9 k €↑
2018
Annual accounts 201845,1 k €↑
2017
Annual accounts 201742,8 k €↓
2016
Annual accounts 201650,2 k €↑
2015
Annual accounts 20154,2 k €↓
2014
Annual accounts 201414,3 k €↓
2013
Annual accounts 201335,2 k €↓
2012
Annual accounts 201264,7 k €↓
2011
Annual accounts 2011103,9 k €↑
2010
Annual accounts 20104,6 k €↑
2009
Annual accounts 2009-50,8 k €↓
2008
Annual accounts 200813,5 k €↓
2007
Annual accounts 200733,1 k €↑
2006
Annual accounts 2006-53,1 k €
2006
Name changeAUTO-ELECTRO LMF
22/08/1985
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

LMF

Overview

What does LMF do?

Trend over 20 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