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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 11 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
11 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
LA BORGUEUSE HE from Malmedy, company number BE0753707123, closed financial year 2025 with a result of € -15,012 after tax. For that financial year LA BORGUEUSE HE recorded a gross margin of € 11,758 and equity of € 520,740. Compared with financial year 2024, the result moved from € -16,355 to € -15,012. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 520,740
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -15,012
▲ 8 % less loss than in 2024
Profit after tax over the fiscal year.
€ 43
▼ 99% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -99,260.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 506
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 10,497 | € 11,800 | € 10,864 | € 11,758 | ▲ 8% |
| Profit after taxes | € -17,413 | € -15,359 | € -16,355 | € -15,012 | ▲ € 1,342 |
| Equity | € 567,466 | € 552,107 | € 535,752 | € 520,740 | ▼ 3% |
| Total debts | € 95,744 | € 189,960 | € 229,135 | € 261,241 | ▲ 14% |
| Cash | € 18,434 | € 2,330 | € 3,094 | € 43 | ▼ 99% |
| Land & buildings | € 454,907 | € 436,181 | € 417,455 | € 398,730 | ▼ 4% |
| Retained profit | € -52,534 | € -67,893 | € -84,248 | € -99,260 | ▼ € 15,012 |
| Balance sheet total | € 663,210 | € 742,067 | € 764,887 | € 781,981 | ▲ 2% |
Key figures of LA BORGUEUSE HE, 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 LA BORGUEUSE HE?
What happened at LA BORGUEUSE HE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 15,012. Source: NBB ↗
- Michel BODARWE stepped down as director. NBB
- Michel HORN stepped down as director. NBB
- Vincent LEMAIRE stepped down as director. NBB
- New establishment in Malmedy. KBO
- Start of the company according to the CBE. KBO
- Michel BODARWE became a director. NBB
- Michel HORN became a director. NBB
In short
From € 17,413 loss in 2022 to € 15,012 loss in 2025.
Management
The stake of ENTREPRISE ANDRE LEMAIRE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
LA BORGUEUSE HEThe shares are held by ENTREPRISE ANDRE LEMAIRE (18.3%).
Directors
According to the 2025 annual accounts
Michel BODARWE
Managing director
Also active at: Boreta, A. DETHIER, BODARWE CARRIERES, BODARWE, PROBEMAL, SOGIMAL, PIERRE DE WAIMES, CARRIERES SCHAUSS +8 more
since 2020 · until 2026
since 2020 · until 2026
Vincent LEMAIRE
Director
since 2020 · until 2026
Shareholders
18.3%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Baugnez-Route de Luxembourg 16
4960 Malmedy
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 11 companies are registered at this address.
All companies at this address →Boreta same network
€ 2.2 million gross margin · 2025
A. DETHIER same network
€ 13,774 gross margin · 2025
BODARWE CARRIERES same network
€ 1.9 million gross margin · 2025
PROBEMAL same network
€ 1.5 million gross margin · 2025
PIERRE DE WAIMES same network
€ 269,828 gross margin · 2025
+6 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
- 0753.707.123
- VAT number
- BE 0753.707.123
- Registered office
- Baugnez-Route de Luxembourg 16, 4960 Malmedy
- Names & denominations
- LA BORGUEUSE HE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 4 September 2020
- Peppol
- Not registered