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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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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 47 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
39 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
LUGGER BAY INVESTMENTS from Etterbeek, company number BE0882810163, closed financial year 2025 with a result of € -22,077 after tax. For that financial year LUGGER BAY INVESTMENTS recorded a gross margin of € -21,229 and equity of € -390,490. Compared with financial year 2024, the result moved from € -27,392 to € -22,077. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ -390,490
▼ € 22,077 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -22,077
▲ 19 % less loss than in 2024
Profit after tax over the fiscal year.
€ 7,142
▼ 76% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -410,490.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 4,563
▼ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -58,679 | € -25,066 | € -26,534 | € -21,229 | ▲ € 5,305 |
| Profit after taxes | € -59,840 | € -25,925 | € -27,392 | € -22,077 | ▲ € 5,315 |
| Equity | € -315,095 | € -341,021 | € -368,412 | € -390,490 | ▼ € 22,077 |
| Total debts | € 742,719 | € 749,092 | € 747,760 | € 747,218 | |
| Cash | € 79,049 | € 58,549 | € 29,220 | € 7,142 | ▼ 76% |
| Retained profit | € -335,095 | € -361,021 | € -388,412 | € -410,490 | ▼ € 22,077 |
| Balance sheet total | € 427,624 | € 408,071 | € 379,347 | € 356,728 | ▼ 6% |
Key figures of LUGGER BAY INVESTMENTS, 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 LUGGER BAY INVESTMENTS?
What happened at LUGGER BAY INVESTMENTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 22,077. Source: NBB ↗
- NICOLLE MC CULLAGH became a director. NBB
- Tatyana Andreeva became a director. NBB
- New establishment in Etterbeek. KBO
- Start of the company according to the CBE. KBO
- Paul James MC CULLAGH became a director. NBB
In short
From € 59,840 loss in 2022 to € 22,077 loss in 2025.
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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
Behind LUGGER BAY INVESTMENTS are NICOLLE MC CULLAGH, Tatyana Andreeva and Paul James MC CULLAGH. It owns 99% of SCI Cap Ventoux and 99% of SCI LA LICORNE LUXE PROPERTIES itself.
Directors
According to the 2025 annual accounts
NICOLLE MC CULLAGH
Director
since 2021
Tatyana Andreeva
Director
Also active at: ABI PLACE, GEDECE, COFISAF HOLDING, ENMORE, MONOCOM, Mali Investment, Sante Angelo Equity Limited, Toucan Health Innovations +5 more
since 2019
Paul James MC CULLAGH
Director
since 2006
Establishments
Establishment units
Physical locations of this company
Louis Schmidtlaan 87
1040 Etterbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 39 companies are registered at this address.
All companies at this address →Organisatiebureel A.D.
FEDERATION EUROPEENNE DES ASSOCIATIONS DES ETABLISSEMENTS DE CREDIT EUROFINAS ASS INT
€ 462,531 gross margin · 2025
SEGRO BELGIUM
€ -35,308 gross margin · 2025
FEDERATION EUROPEENNE DES ASSOCIATIONS DES ETABLISSEMENTS DE LEASING - EUROPESE FEDERATIE VAN VERENIGINGEN VAN LEASINGONDERNEMINGEN - EUROPEAN FEDERATIONOF LEAS
€ 866,930 gross margin · 2025
IMMOBILIERE PARMA-IMMOBILIEN PARMA
€ -8,614 gross margin · 2025
+34 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
- 0882.810.163
- VAT number
- BE 0882.810.163
- Registered office
- Louis Schmidtlaan 87, 1040 Etterbeek
- Names & denominations
- LUGGER BAY INVESTMENTS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 August 2006
- Peppol
- Not registered