ACTIVE

LSIM

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Financial year 2025 · closed on 31/12/2025

Net result

25,6 M €

+132.4% YoY

Gross margin

981,4 k €

+16.7% YoY

Equity

47,4 M €

+7.7% YoY

Workforce

1,8 ETP

+80.0% YoY

What does LSIM do?

LSIM is a Public limited company incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Uccle. It employs on average 1,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0865.250.985

Incorporation

11/05/2004

Legal form

Public limited company

Registered office

Avenue de la Floride 19
1180 Uccle · BruxellesSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

1,8 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 68201Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	981,4 k €	+16.7%	840,7 k €	+1.6%	827,6 k €	+30.7%	633,2 k €	-2.6%	650,1 k €	-3.6%	674,3 k €	-1.4%	684 k €	+13.5%	602,4 k €	+1.5%	593,5 k €	-0.4%	595,8 k €	+69.8%	350,8 k €	+2.2%	343,3 k €	+20.7%	284,4 k €	-9.0%	312,6 k €	+8.2%	288,9 k €	+9.7%	263,5 k €	+3.2%	255,3 k €	+32.4%	192,9 k €	-18.2%	235,9 k €	+48.8%	158,6 k €
EBITDA	916,7 k €	+14.8%	798,7 k €	+4.9%	761,2 k €	+29.9%	585,8 k €	-3.7%	608,4 k €	-9.1%	668,9 k €	-1.4%	678,3 k €	+13.5%	597,6 k €	+1.6%	588 k €	-0.6%	591,4 k €	+70.6%	346,6 k €	+5.3%	329,2 k €	+16.9%	281,7 k €	-9.1%	309,9 k €	+8.3%	286,2 k €	+9.9%	260,4 k €	+3.0%	252,9 k €	+32.2%	191,3 k €	-17.8%	232,8 k €	+49.7%	155,5 k €
Operating result	770,4 k €	+15.4%	667,5 k €	+6.6%	626,2 k €	+38.2%	453 k €	-1.5%	460 k €	+15.9%	396,8 k €	-4.6%	415,9 k €	+24.0%	335,5 k €	-30.6%	483,7 k €	+46.5%	330,3 k €	+22.6%	269,4 k €	-10.0%	299,2 k €	+50.6%	198,8 k €	-34.2%	302 k €	+7.7%	280,3 k €	+14.3%	245,3 k €	+3.2%	237,8 k €	+34.6%	176,6 k €	-19.3%	218,7 k €	+54.6%	141,5 k €
Net result	25,6 M €	+132%	11 M €	+361%	2,4 M €	-3.7%	2,5 M €	+90.8%	1,3 M €	+94.7%	668,9 k €	+116%	309,9 k €	+43.0%	216,8 k €	-75.5%	884,3 k €	-11.1%	994,2 k €	+2030%	46,7 k €	-76.1%	194,9 k €	+42.1%	137,1 k €	-37.6%	219,7 k €	+15.4%	190,3 k €	+14.4%	166,4 k €	+4.7%	158,9 k €	+29.9%	122,3 k €	-14.9%	143,7 k €	+49.0%	96,4 k €
Balance sheet
Equity	47,4 M €	+7.7%	44,1 M €	+308%	10,8 M €	+28.4%	8,4 M €	+41.9%	5,9 M €	+28.1%	4,6 M €	+16.9%	4 M €	+8.5%	3,6 M €	+6.3%	3,4 M €	+34.7%	2,5 M €	+5.7%	2,4 M €	+60.0%	1,5 M €	+14.9%	1,3 M €	+11.7%	1,2 M €	+23.0%	954,7 k €	+24.9%	764,4 k €	+27.8%	598 k €	+36.2%	439,1 k €	+38.6%	316,7 k €	+83.1%	173 k €
Total assets	57 M €	+8.1%	52,7 M €	+182%	18,7 M €	+13.2%	16,5 M €	+14.0%	14,5 M €	+39.1%	10,4 M €	+34.5%	7,7 M €	+19.8%	6,5 M €	+2.4%	6,3 M €	+13.9%	5,5 M €	+48.2%	3,7 M €	+58.2%	2,4 M €	+19.0%	2 M €	+53.8%	1,3 M €	+13.4%	1,1 M €	+9.2%	1 M €	+44.3%	722,6 k €	+10.2%	655,7 k €	+20.0%	546,3 k €	+39.7%	391,1 k €
Cash	185,3 k €	-62.8%	497,8 k €	+85.6%	268,2 k €	+226%	82,3 k €	-72.3%	297,4 k €	+10.0%	270,5 k €	-73.7%	1 M €	+217%	323,5 k €	-40.3%	542,4 k €	-32.7%	806,4 k €	+3830%	20,5 k €	-54.9%	45,5 k €	-91.6%	542,7 k €	+27.9%	424,4 k €	+341%	96,3 k €	-38.7%	157,1 k €	+506%	25,9 k €	-91.5%	305,7 k €	+349%	68,1 k €	-73.3%	254,8 k €
Debts	9,5 M €	+18.4%	8 M €	+5.2%	7,6 M €	-4.2%	8 M €	-6.9%	8,5 M €	+48.0%	5,8 M €	+52.7%	3,8 M €	+34.5%	2,8 M €	-2.2%	2,9 M €	-3.8%	3 M €	+125%	1,3 M €	+55.4%	853,8 k €	+27.5%	669,5 k €	+477%	116 k €	-36.2%	181,7 k €	-34.6%	277,9 k €	+126%	122,8 k €	-43.3%	216,6 k €	-5.4%	228,9 k €	+5.0%	218 k €
Other
Workforce	1,8 ETP	+80.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		–		0,0 ETP	-100%	0,2 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 · 1 active · 3 ended

Active mandates

Wolfgang DE LIMBURG STIRUM

Director

Active

Ended mandates

Martine Eykerman

Mandate

Ended

Wolfgang de Limburg Stirum

Mandate

Ended

Wolfgang de Limburg Stirum

Managing director

Ended

At this address

Other companies at this address

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Groupement Forestier du Vieux Château● Active	0830.766.594
MALISTI● Active	0670.800.035
MEJA● Active	0725.655.317
Unité Dewitte● Active	1001.859.154

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	30/07/2026	22/07/2025	08/08/2024	31/07/2023	30/06/2022	01/06/2021
General meeting	26/06/2026	11/07/2025	23/07/2024	28/07/2023	30/05/2022	31/05/2021
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	26/06/2026	30/07/2026	French	PDF
Abridged model	31/12/2024	11/07/2025	22/07/2025	French	PDF
Abridged model	31/12/2023	23/07/2024	08/08/2024	French	PDF
Abridged model	31/12/2022	28/07/2023	31/07/2023	French	PDF
Abridged model	31/12/2021	30/05/2022	30/06/2022	French	PDF
Abridged model	31/12/2020	31/05/2021	01/06/2021	French	PDF
Abridged model	31/12/2019	08/04/2020	15/04/2020	French	PDF
Abridged model	31/12/2018	30/05/2019	03/06/2019	French	PDF
Abridged model	31/12/2017	30/05/2018	10/07/2018	French	PDF
Abridged model	31/12/2016	30/05/2017	01/06/2017	French	PDF
Abridged model	31/12/2015	11/07/2016	13/07/2016	French	PDF
Abridged model	31/12/2014	23/05/2015	17/06/2015	French	PDF
Abridged model	31/12/2013	31/05/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	31/05/2013	08/06/2013	French	PDF
Abridged model	31/12/2011	31/05/2012	01/06/2012	French	PDF
Abridged model	31/12/2010	31/05/2011	30/06/2011	French	PDF
Abridged model	31/12/2009	31/05/2010	16/06/2010	French	PDF
Abridged model	31/12/2008	31/05/2009	04/06/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	11/06/2008	French	PDF
Abridged model	31/12/2006	31/05/2007	06/06/2007	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 · 1 active · 3 ended

Active mandates

Wolfgang DE LIMBURG STIRUM

Director

Active

Ended mandates

Martine Eykerman

Mandate

Ended

Wolfgang de Limburg Stirum

Mandate

Ended

Wolfgang de Limburg Stirum

Managing director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/09/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Other05/06/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office23/01/2018
SIEGE SOCIAL
PDF
Mandates28/10/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates16/08/2013
DEMISSIONS, NOMINATIONS
PDF
Capital / shares22/09/2006
ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other12/05/2005
MODIFICATION DE L'EXERCICE SOCIAL ET DE L'ASSEMBLEE ORDINAIRE
PDF
Other25/05/2004
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202525,6 M €↑
15/09/2025
nominationde LIMBURG STIRUM Wolfgang — président du conseil d’administration
01/09/2025
nominationde LIMBURG STIRUM Wolfgang — Administrateur A
01/09/2025
nominationde LIMBURG STIRUM Eve — Administrateur B
01/09/2025
nominationde LIMBURG STIRUM Jade — Administrateur B
01/09/2025
nominationEYKERMAN Martine — Administrateur B
2024
Annual accounts 202411 M €↑
2023
Annual accounts 20232,4 M €↓
2022
Annual accounts 20222,5 M €↑
2021
Annual accounts 20211,3 M €↑
2020
Annual accounts 2020668,9 k €↑
2019
Annual accounts 2019309,9 k €↑
2018
Annual accounts 2018216,8 k €↓
2017
Annual accounts 2017884,3 k €↓
2016
Annual accounts 2016994,2 k €↑
2015
Annual accounts 201546,7 k €↓
2014
Annual accounts 2014194,9 k €↑
2013
Annual accounts 2013137,1 k €↓
2012
Annual accounts 2012219,7 k €↑
2011
Annual accounts 2011190,3 k €↑
2010
Annual accounts 2010166,4 k €↑
2009
Annual accounts 2009158,9 k €↑
2008
Annual accounts 2008122,3 k €↓
2007
Annual accounts 2007143,7 k €↑
2006
Annual accounts 200696,4 k €
11/05/2004
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

LSIM

Overview

What does LSIM 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