Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
48 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
LOTHIAN DEVELOPMENTS III from Brussel, company number BE0463648617, closed financial year 2025 with a result of € -959,234 after tax. For that financial year LOTHIAN DEVELOPMENTS III recorded a gross margin of € 1.1 million and equity of € 3.1 million. Compared with financial year 2024, the result moved from € -228,194 to € -959,234. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 7, 2026.
€ 3.1 million
▼ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -959,234
▼ 320 % more loss than in 2024
Profit after tax over the fiscal year.
€ 681,801
▼ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -2.9 million.
Debts at end 2025
€ 6.6 million
▼ 44% vs 2024
Loans from banks and other lenders, long and short.
€ 34,660
▼ 64% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 178,136
▲ € 168,399 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,042,940 | € 2,587,778 | € 1,868,043 | € 1,119,148 | ▼ 40% |
| Profit after taxes | € 144,410 | € 302,975 | € -228,194 | € -959,234 | ▼ € 731,040 |
| Equity | € 4,006,693 | € 4,309,668 | € 4,081,474 | € 3,122,239 | ▼ 24% |
| Total debts | € 12,947,927 | € 12,373,362 | € 12,200,107 | € 8,012,060 | ▼ 34% |
| Cash | € 1,087,881 | € 835,924 | € 1,101,350 | € 681,801 | ▼ 38% |
| Land & buildings | € 10,848,074 | € 10,103,089 | € 9,372,212 | € 8,722,824 | ▼ 7% |
| Retained profit | € -1,987,878 | € -1,684,903 | € -1,913,097 | € -2,872,332 | ▼ € 959,235 |
| Bank debt | € 12,144,000 | € 11,880,000 | € 11,748,000 | € 6,600,000 | ▼ 44% |
| Balance sheet total | € 16,954,620 | € 16,683,030 | € 16,281,581 | € 11,134,299 | ▼ 32% |
Key figures of LOTHIAN DEVELOPMENTS III, 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 LOTHIAN DEVELOPMENTS III?
What happened at LOTHIAN DEVELOPMENTS III in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Fabio GASPERONI stepped down as director. NBB
- Dimitry UGOLKOV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 959,234. filed late Source: NBB ↗
- Fabio GASPERONI became a director. NBB
- Dimitry UGOLKOV became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 144,410 profit in 2022 to € 959,234 loss in 2025.
Best year ever: 2023, with € 302,975 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by FFF REAL ESTATE (100%).
Directors
According to the 2025 annual accounts
Fabio GASPERONI
Director
since 2024 · until 2027
Dimitry UGOLKOV
Director
since 2024 · until 2027
Shareholders
FFF REAL ESTATE
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 120
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 48 companies are registered at this address.
All companies at this address →Herman Miller
Belgian Multihull Association
Nisard-Invest
SOCIETE FINANCIERE CODIC
€ -16,090 gross margin · 2024
CODIC INTERNATIONAL
€ 3.7 million revenue · 2024
+43 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0463.648.617
- VAT number
- BE 0463.648.617
- Registered office
- Terhulpsesteenweg 120, 1000 Brussel
- Names & denominations
- LOTHIAN DEVELOPMENTS III
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 25 June 1998
- Peppol
- Active · Active since 4 Jun 2026
- Activities · NACE
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