Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 26 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
LESAGE GROUPE from Houffalize, company number BE0438701405, closed financial year 2025 with a result of € 144,089 after tax. For that financial year LESAGE GROUPE recorded a gross margin of € 355,270 and equity of € 456,408. Compared with financial year 2024, the result moved from € 113,392 to € 144,089. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 15, 2026.
€ 456,408
▲ 46% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 144,089
▲ 27% vs 2024
Profit after tax over the fiscal year.
€ 78,950
▲ 285% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 377,083.
People and assets in 2025
2
▼ 0.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 131,458
▼ 3% vs 2024
€ 65,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 120,590
▲ 161% vs 2024
Of which on lease € 120,590.
Debts at end 2025
€ 258,139
▲ 75% vs 2024
€ 50,494 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 324,007
▲ € 294,810 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 34,143
▲ € 31,010 vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 77,852 | € 166,715 | € 329,998 | € 355,270 | ▲ 8% |
| Profit after taxes | € -129,428 | € -20,094 | € 113,392 | € 144,089 | ▲ 27% |
| Equity | € 219,021 | € 198,927 | € 312,319 | € 456,408 | ▲ 46% |
| Total debts | € 73,580 | € 304,484 | € 310,096 | € 1,642,341 | ▲ € 1.3 million |
| Cash | € 33,981 | € 11,651 | € 20,519 | € 78,950 | ▲ 285% |
| Land & buildings | € 27,592 | € 227,442 | € 170,000 | € 298,509 | ▲ 76% |
| Retained profit | € 31,695 | € 11,601 | € 232,994 | € 377,083 | ▲ 62% |
| Bank debt | € 6,085 | € 150,515 | € 147,876 | € 258,139 | ▲ 75% |
| Balance sheet total | € 292,601 | € 503,411 | € 622,415 | € 2,098,749 | ▲ 237% |
| Employees (FTE) | - | - | 2.9 | 2 | ▼ 0.9 |
Key figures of LESAGE GROUPE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to LESAGE GROUPE?
What happened at LESAGE GROUPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 144,089 (▲ 27% vs 2024). filed late Source: NBB ↗
- TTH Invest SRL became a director. NBB
- JTH Invest SRL became a director. NBB
- New establishment in Houffalize. KBO
- Start of the company according to the CBE. KBO
In short
From € 129,428 loss in 2022 to € 144,089 profit in 2025.
Paid € 30,319 in corporate taxes since 2022.
Best year ever: 2025, with € 144,089 profit.
On average € 177,600 of value added per employee in 2025.
Management
The stake of TTH INVEST, JTH INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
LESAGE GROUPEBehind LESAGE GROUPE are TTH Invest SRL and JTH Invest SRL. The shares are held by TTH INVEST (50%) and JTH INVEST (50%). It owns 100% of Wallonie Recyclage itself.
Directors
According to the 2025 annual accounts
Director · represented by Thomas Theis
Also active at: THEIS Marcel, WALLONIE RECYCLAGE, TPrécup, Ardennes Finances, JTJ REAL ESTATE, BELCYCO MINERALS, ARDENNE CONTAINER
since 2024
Director · represented by Jencôme Theis
Also active at: THEIS Marcel, WALLONIE RECYCLAGE, TPrécup, Ardennes Finances, JTJ REAL ESTATE, BELCYCO MINERALS, ARDENNE CONTAINER
since 2024
Shareholders
50%
50%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Cetturu 9
6662 Houffalize
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0438.701.405
- VAT number
- BE 0438.701.405
- Registered office
- Cetturu 9, 6662 Houffalize
- Names & denominations
- LESAGE GROUPE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 October 1989
- Peppol
- Active · Active since 13 Jan 2026
- Activities · NACE
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