ACTIVE

LMSA

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Financial year 2025 · closed on 31/12/2025

Net result

125,3 k €

+4.8% YoY

Gross margin

351,7 k €

-1.9% YoY

Equity

1,9 M €

+7.0% YoY

What does LMSA do?

LMSA is a Private limited company incorporated in 1986. Its main activity is: Management consultancy activities. Its registered office is in Tournai.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.666.646

Incorporation

20/10/1986

Legal form

Private limited company

Registered office

Rue des Crupes(MSA) 50
7542 Tournai · WallonieSee on map

Contributed capital

24 789,35 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 41102Development of building projects 68100Buying and selling of own real estate 68110Buying and selling of own real estate+12

Contacts

2 public details availableLog in to view

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	351,7 k €	-1.9%	358,7 k €	+11.2%	322,7 k €	-3.9%	335,7 k €	-75.6%	1,4 M €	+256%	387 k €	+42.4%	271,8 k €	-20.2%	340,6 k €	+14.0%	298,7 k €	+61.7%	184,7 k €	-25.5%	247,9 k €	+17.1%	211,8 k €	+15.9%	182,8 k €	-34.6%	279,7 k €	+80.9%	154,6 k €	-14.9%	181,6 k €	+11.2%	163,4 k €	+27.4%	128,2 k €	+46.4%	87,6 k €
EBITDA	344 k €	-2.0%	351,2 k €	+11.3%	315,4 k €	-4.2%	329,2 k €	-76.0%	1,4 M €	+261%	380,2 k €	+46.5%	259,6 k €	-21.4%	330,3 k €	+15.1%	286,9 k €	+63.3%	175,7 k €	-14.7%	206 k €	+21.4%	169,6 k €	+27.0%	133,6 k €	-42.2%	231,3 k €	+115%	107,6 k €	-21.5%	137,1 k €	+373%	-50,3 k €	-185%	58,9 k €	-22.0%	75,6 k €
Operating result	228,4 k €	-5.1%	240,8 k €	+16.4%	206,8 k €	-11.5%	233,6 k €	-81.9%	1,3 M €	+317%	309,4 k €	+62.7%	190,1 k €	-23.7%	249,3 k €	+83.4%	135,9 k €	+1549%	-9,4 k €	-145%	20,9 k €	+246%	-14,3 k €	+71.0%	-49,2 k €	-175%	65,3 k €	+223%	-53,1 k €	-258%	-14,8 k €	+92.2%	-190,7 k €	-170%	-70,6 k €	-313%	33,1 k €
Net result	125,3 k €	+4.8%	119,5 k €	-15.0%	140,6 k €	-9.2%	154,7 k €	-82.4%	881,6 k €	+347%	197 k €	+60.4%	122,9 k €	-40.7%	207,3 k €	+52.4%	136,1 k €	+1655%	-8,7 k €	-141%	21,2 k €	+249%	-14,2 k €	+71.1%	-49,1 k €	-175%	65,3 k €	+223%	-53,1 k €	-187%	-18,5 k €	+90.3%	-190,7 k €	-168%	-71,3 k €	-609%	-10,1 k €
Balance sheet
Equity	1,9 M €	+7.0%	1,8 M €	+7.2%	1,6 M €	+9.2%	1,5 M €	+11.3%	1,4 M €	+306%	333,4 k €	+145%	136,3 k €	+912%	13,5 k €	+107%	-193,9 k €	+41.2%	-329,9 k €	-2.7%	-321,2 k €	+6.2%	-342,4 k €	-4.3%	-328,2 k €	-17.6%	-279,1 k €	+19.0%	-344,4 k €	-18.2%	-291,2 k €	-6.8%	-272,7 k €	-232%	-82,1 k €	-661%	-10,8 k €
Total assets	9,7 M €	+20.5%	8 M €	+0.2%	8 M €	+8.5%	7,4 M €	+35.3%	5,4 M €	+211%	1,8 M €	+45.3%	1,2 M €	+62.0%	744,4 k €	+38.6%	537 k €	+1.9%	527 k €	-39.2%	867,5 k €	-7.6%	939,1 k €	-5.6%	994,7 k €	-8.9%	1,1 M €	-4.6%	1,1 M €	-5.0%	1,2 M €	-1.6%	1,2 M €	-2.0%	1,2 M €	+123%	560 k €
Cash	147,8 k €	+97.2%	75 k €	+420%	14,4 k €	-78.6%	67,3 k €	-73.8%	256,4 k €	+401%	51,2 k €	-51.9%	106,3 k €	-45.8%	196,1 k €	+238%	58 k €	-10.6%	64,9 k €	+50.0%	43,3 k €	+0.1%	43,2 k €	+751%	5,1 k €	-92.2%	65 k €	+2142%	2,9 k €	-70.8%	9,9 k €	-69.2%	32,3 k €	+59.7%	20,2 k €	-67.2%	61,5 k €
Debts	7,6 M €	+24.9%	6,1 M €	-2.3%	6,3 M €	+7.9%	5,8 M €	+42.5%	4,1 M €	+187%	1,4 M €	+32.7%	1,1 M €	+46.2%	730,9 k €	+0.0%	730,9 k €	-14.7%	856,9 k €	-27.9%	1,2 M €	-7.2%	1,3 M €	-3.1%	1,3 M €	-3.5%	1,4 M €	-7.9%	1,5 M €	-0.5%	1,5 M €	-0.0%	1,5 M €	+12.5%	1,3 M €	+133%	570,8 k €
Other
Workforce	–		0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 9 ended

Active mandates

Anne Dehecq

Director · since 06 janvier 2006

Active

Frédéric Gauchet

Director · since 06 janvier 2006

Active

Ended mandates

Anne Dehecq

Director · since 09 octobre 2020

Ended

Frédéric Gauchet

Director · since 09 octobre 2020

Ended

Anne Dehecq

Director · since 06 janvier 2006 · until 09 octobre 2020

Ended

Frédéric Gauchet

Director · since 06 janvier 2006 · until 09 octobre 2020

Ended

At this address

Other companies at this address

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Adgale● Active	0767.589.110
AGLAF FINANCES● Active	0699.765.621

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro 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	31/08/2026	29/08/2025	30/08/2024	31/08/2023	29/08/2022	09/08/2021
General meeting	27/08/2026	28/08/2025	29/08/2024	29/08/2023	25/06/2022	26/06/2021
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
Micro model	31/12/2025	27/08/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	28/08/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	29/08/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	29/08/2023	31/08/2023	French	PDF
Abridged model	31/12/2021	25/06/2022	29/08/2022	French	PDF
Abridged model	31/12/2020	26/06/2021	09/08/2021	French	PDF
Abridged model	31/12/2019	15/06/2020	29/10/2020	French	PDF
Micro model	31/12/2018	27/05/2019	05/08/2019	French	PDF
Micro model	31/12/2017	28/05/2018	03/07/2018	French	PDF
Micro model	31/12/2016	24/05/2017	26/07/2017	French	PDF
Abridged model	31/12/2015	23/05/2016	11/07/2016	French	PDF
Abridged model	31/12/2014	25/05/2015	06/07/2015	French	PDF
Abridged model	31/12/2013	26/05/2014	25/08/2014	French	PDF
Abridged model	31/12/2012	27/05/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	28/05/2012	27/08/2012	French	PDF
Abridged model	31/12/2010	30/05/2011	30/08/2011	French	PDF
Abridged model	31/12/2009	31/05/2010	27/08/2010	French	PDF
Abridged model	31/12/2008	25/05/2009	28/08/2009	French	PDF
Abridged modelCorrection	31/12/2007	26/05/2008	05/09/2008	French	PDF
Abridged model	31/12/2007	26/05/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	28/05/2007	27/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 2 active · 9 ended

Active mandates

Anne Dehecq

Director · since 06 janvier 2006

Active

Frédéric Gauchet

Director · since 06 janvier 2006

Active

Ended mandates

Anne Dehecq

Director · since 09 octobre 2020

Ended

Frédéric Gauchet

Director · since 09 octobre 2020

Ended

Anne Dehecq

Director · since 06 janvier 2006 · until 09 octobre 2020

Ended

Frédéric Gauchet

Director · since 06 janvier 2006 · until 09 octobre 2020

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/10/2020
MODIFICATION FORME JURIDIQUE - DENOMINATION - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates18/08/2017
DENOMINATION - SIEGE SOCIAL
PDF
Mandates08/02/2006
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - CAPITAL, ACTIONS
PDF
Other08/02/2006
ADAPTATION DES STATUTS AU CODE DES SOCIETES
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 2025125,3 k €↑
2024
Annual accounts 2024119,5 k €↓
2023
Annual accounts 2023140,6 k €↓
2022
Annual accounts 2022154,7 k €↓
2021
Annual accounts 2021881,6 k €↑
2019
Annual accounts 2019197 k €↑
2018
Annual accounts 2018122,9 k €↓
2017
Annual accounts 2017207,3 k €↑
2016
Annual accounts 2016136,1 k €↑
2015
Annual accounts 2015-8,7 k €↓
2014
Annual accounts 201421,2 k €↑
2013
Annual accounts 2013-14,2 k €↑
2012
Annual accounts 2012-49,1 k €↓
2011
Annual accounts 201165,3 k €↑
2010
Annual accounts 2010-53,1 k €↓
2009
Annual accounts 2009-18,5 k €↑
2008
Annual accounts 2008-190,7 k €↓
2007
Annual accounts 2007-71,3 k €↓
2006
Annual accounts 2006-10,1 k €
20/10/1986
IncorporationPrivate 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

LMSA

Overview

What does LMSA do?

Trend over 19 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