The invention concerns a method for preparing a lubricating composition, characterised in that it comprises mixing two previously prepared oil-in-water emulsions (A) and (B): the prior emulsion (A) comprises: (a) at least a non-reactive linear polyorganosiloxane oil comprising per molecule at least 2% in number of organic substituents bound to the silicon atoms which are aryl, alkylarylene and/or arylenealkyl radicals; (b) at least a polyorganosiloxane resin bearing hydroxyl groups and comprising at least two different siloxyl units selected among those formula (R.sup.1).sub.3SiO.sub.1/2(M), (R.sup.1).sub.2SiO.sub.2/2(D), R.sup.1SiO.sub.3/2(T) and SiO.sub.4/2(Q), one at least of said units being a unit T or Q, R.sup.1 representing an organic substituent; (c) at least a crosslinking agent soluble in the silicone phase comprising at least two functions capable of reacting with the polyorganosiloxane resin(s) (b); (d) a condensation catalyst capable of catalysing the reaction of the constituent (b) with the constituent (c); (e) a surfactant; and (f) water; the prior emulsion (B) comprises: (a') at least a reactive linear polyorganosiloxane oil comprising at least two OH groups per molecule, and the constituents (b), (c), (d), (e) and (f) mentioned above: each of the prior emulsions (A) and (B) comprises: 5 to 95 parts by weight of constituent (a) or (a'); 0.5 to 50 parts of constituent (b); 0.1 to 20 parts of constituent (c); 0.05 to 10 parts of constituent (d); for 100 parts of the sum (a)+(b)+(c)+(d) or (a')+(b)+(c)+(d); the amounts of surfactant and water being sufficient to obtain an oil-in-water emulsion; and the weight ratio emulsion (A)/emulsion (B) ranges between 1.5 and 4.