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 42 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
LCL from Machelen (Brab.), company number BE0457116458, closed financial year 2025 with a result of € 2.4 million after tax. For that financial year LCL recorded revenue of € 35.4 million and equity of € 13.8 million. Compared with financial year 2024, the result moved from € -427,572 to € 2.4 million. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 11, 2026.
€ 13.8 million
▲ 25% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.4 million
▲ still € 427,572 loss in 2024
Profit after tax over the fiscal year.
€ 6.1 million
▼ 15% 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 € 8.1 million.
People and assets in 2025
43
▲ 3.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.5 million
▲ 23% vs 2024
€ 128,900 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.
€ 599,988
▼ 25% vs 2024
Of which on lease € 261,615.
Debts at end 2025
€ 176.1 million
▲ 27% vs 2024
€ 13.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 13 years.
€ 9 million
▼ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 250 days on average.
€ 2.3 million
▲ 69% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 13,007,881 | € 24,752,370 | € 24,944,161 | € 35,432,891 | ▲ 42% |
| Profit after taxes | € -901,509 | € 1,124,540 | € -427,572 | € 2,434,647 | ▲ € 2.9 million |
| Equity | € 7,462,507 | € 11,468,988 | € 11,040,597 | € 13,807,567 | ▲ 25% |
| Total debts | € 88,830,595 | € 111,669,683 | € 154,651,167 | € 191,563,088 | ▲ 24% |
| Cash | € 4,905,852 | € 11,390,843 | € 7,191,175 | € 6,111,360 | ▼ 15% |
| Land & buildings | € 25,777,832 | € 64,544,309 | € 60,819,260 | € 127,989,814 | ▲ 110% |
| Retained profit | € 5,006,644 | € 6,131,185 | € 5,703,613 | € 8,138,260 | ▲ 43% |
| Bank debt | € 77,324,487 | € 98,544,503 | € 138,164,887 | € 176,080,693 | ▲ 27% |
| Balance sheet total | € 96,381,216 | € 123,213,957 | € 165,754,221 | € 205,420,284 | ▲ 24% |
| Employees (FTE) | 27 | 32.9 | 39.2 | 43 | ▲ 3.8 |
Key figures of LCL, 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 LCL?
What happened at LCL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- DATACLOUD BV stepped down as director. NBB
- Infra4Be Management NV stepped down as director. NBB
- True Colors Consulting stepped down as director. NBB
- Béla Waldhauser stepped down as director. NBB
- Danielle Devogelaer stepped down as director. NBB
- CASSIOPEIA BV stepped down as director. NBB
- Ingrid Daerden stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.4 million. Source: NBB ↗
In short
From € 901,509 loss in 2022 to € 2.4 million profit in 2025.
Paid € 663,541 in corporate taxes since 2022.
Best year ever: 2025, with € 2.4 million profit.
Management
The stake of I4B - THE BELGIAN INFRASTRUCTURE FUND comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
LCLThe shares are held by I4B - THE BELGIAN INFRASTRUCTURE FUND (10%). It owns 100% of LCL Solar Energy, 100% of LCL Wallonia One and 100% of LCL Energy itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2027
Danielle Devogelaer
Director
since 2024 · until 2028
since 2025 · until 2029
Chairman of the board · represented by Els Demeester
Also active at: Rf TECHNOLOGIES, THE BELGIAN, ENIVEON
since 2023 · until 2027
Béla Waldhauser
Director
since 2025 · until 2029
Director · represented by Laurens van Reijen
since 2023 · until 2029
Director · represented by Samuel de Lhoneux
Also active at: BESS Navagne, STORM 90, STORM 91, Luminus Storage, Green Neon
since 2023 · until 2029
Shareholders
Participations
Establishments
Establishment units
Physical locations of this company
Kouterveldstraat 13
1831 Machelen (Brab.)
Noorderlaan 133
2030 Antwerpen
Active since 1 January 2008
Industrielaan 3
9320 Aalst
Active since 1 January 2012
Molenstraat 46
1651 Beersel
Active since 31 October 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0457.116.458
- VAT number
- BE 0457.116.458
- Registered office
- Kouterveldstraat 13, 1831 Machelen (Brab.)
- Names & denominations
- LCL · LCL BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 January 1996
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
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