ACTIVE

LUGUS STUDIOS

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Financial year 2025 · Closed on 30/06/2025

Net result838,7 k €+87,8 %over 1 year

Gross margin1,4 M €+46,6 %over 1 year

Equity1,1 M €+10,6 %over 1 year

Workforce6,8 ETP0,0 %over 1 year

Identity

Source · BCE/KBO

LUGUS STUDIOS is a Private limited company incorporated in 2011. Its main activity is: Publishing of computer games. Its registered office is in Hasselt. It employs on average 6,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0839.288.243
Incorporation: 12/09/2011
Legal form: Private limited company
Registered office: Aldestraat 48
3500 Hasselt · FlandreSee on map
Contributed capital: 10 400,00 €
Latest accounts: 30/06/2025
Average workforce: 6,8 ETP

Activities (NACE)

58210Publishing of computer games· main 58210Publishing of computer games 62010Computer programming activities 62100Computer programming, consultancy and related activities

Joint committees (2)

227
22700

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 13 filings

Trend over 10 financial years

	2025		2024		2023		2022		2018
Income statement
Gross margin	1,4 M €	+46.6%	982,5 k €	+29.7%	757,8 k €	+27.4%	594,9 k €	+120%	271 k €
EBITDA	1,1 M €	+67.2%	629,5 k €	+41.4%	445,3 k €	+62.1%	274,6 k €	+181%	97,7 k €
Operating result	1 M €	+66.8%	620,2 k €	+43.0%	433,8 k €	+68.6%	257,2 k €	+210%	82,9 k €
Net result	838,7 k €	+87.8%	446,6 k €	+43.4%	311,5 k €	+72.2%	180,9 k €	+212%	57,9 k €
Balance sheet
Equity	1,1 M €	+10.6%	1 M €	+49.9%	677,7 k €	+19.0%	569,6 k €	+412%	111,3 k €
Total assets	2,2 M €	+63.2%	1,4 M €	+22.7%	1,1 M €	+28.8%	862 k €	+254%	243,5 k €
Cash	1,4 M €	+66.5%	863,4 k €	-8.1%	939,2 k €	+49.5%	628,1 k €	+215%	199,7 k €
Debts	1 M €	+202%	334,9 k €	-15.5%	396,1 k €	+103%	194,7 k €	+48.4%	131,2 k €
Other
Workforce	6,8 ETP	0.0%	6,8 ETP	+7.9%	6,3 ETP		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/06/2025

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alvergreen1003.566.156Represented by Tom LISSENS	Directorsince 01/01/2024
Kevin Haelterman	Directorsince 12/09/2011Mandate01/11/2011 → 2014 accountsendedManager12/09/2011 → 2019 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Tom Lissens	Director12/11/2011 → 2020 accountsManager12/11/2011 → 2019 accountsMandate01/11/2011 → 2014 accounts
Robin Marx	Mandate01/11/2011 → 2014 accounts

Other companies at this address

Aldestraat 48 3500 Hasselt

Company	CBE no.
Alvergreen● Active	1003.566.156
Or & Sable● Active	1003.566.255
Ottotre● Active	1005.708.668

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/01/2026	17/12/2024	19/12/2023	22/12/2022	26/01/2022	30/12/2020
General meeting	31/12/2025	06/12/2024	01/12/2023	02/12/2022	03/12/2021	04/12/2020
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 13 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	31/12/2025	28/01/2026	Dutch	PDF
Abridged model	30/06/2024	06/12/2024	17/12/2024	Dutch	PDF
Abridged model	30/06/2023	01/12/2023	19/12/2023	Dutch	PDF
Micro model	30/06/2022	02/12/2022	22/12/2022	Dutch	PDF
Micro model	30/06/2021	03/12/2021	26/01/2022	Dutch	PDF
Micro model	30/06/2020	04/12/2020	30/12/2020	Dutch	PDF
Micro model	30/06/2019	06/12/2019	06/12/2019	Dutch	PDF
Micro model	30/06/2018	07/12/2018	19/12/2018	Dutch	PDF
Micro model	30/06/2017	01/12/2017	26/01/2018	Dutch	PDF
Abridged model	30/06/2016	02/12/2016	31/01/2017	Dutch	PDF
Abridged model	30/06/2015	04/12/2015	21/12/2015	Dutch	PDF
Abridged model	30/06/2014	05/12/2014	19/02/2015	Dutch	PDF
Abridged model	30/06/2013	20/12/2013	16/01/2014	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 30/06/2025

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alvergreen1003.566.156Represented by Tom LISSENS	Directorsince 01/01/2024
Kevin Haelterman	Directorsince 12/09/2011Mandate01/11/2011 → 2014 accountsendedManager12/09/2011 → 2019 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Tom Lissens	Director12/11/2011 → 2020 accountsManager12/11/2011 → 2019 accountsMandate01/11/2011 → 2014 accounts
Robin Marx	Mandate01/11/2011 → 2014 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Registered office27/05/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates26/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/03/2016
Uittreksel uit het besluit van het college van zaakvoerders dd 04.01.2016 -
PDF
Mandates20/10/2014
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Other26/09/2011
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings10 filings

Mandates

Alvergreen

Kevin Haelterman

Tom Lissens

Robin Marx

2011201220132014201520162017201820192020202120222023202420252026

LUGUS STUDIOS

Aldestraat 48, 3500 HasseltKoningin Astridlaan 35, 3500 Hasselt

Director

DirectorManager

Manager

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Aldestraat 48, 3500 HasseltCurrent	accounts 2024 → 2025	Accounts 2025 · 2026-00019919
Koningin Astridlaan 35, 3500 Hasselt	accounts 2022 → 2023	Accounts 2023 · 2023-00531699

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
LUGUS STUDIOSCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00019919

Events

2025
Annual accounts 2025838,7 k €↑
2024
Annual accounts 2024446,6 k €↑
2023
Annual accounts 2023311,5 k €↑
2022
Annual accounts 2022180,9 k €↑
2018
Annual accounts 201857,9 k €↑
2017
Annual accounts 201745,4 k €↑
2016
Annual accounts 201642,2 k €↑
2015
Annual accounts 20151,8 k €↓
2014
Annual accounts 201415 k €↑
2013
Annual accounts 2013-377,9 €
12/09/2011
IncorporationPrivate limited company

LUGUS STUDIOS

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events