2 WAYS
Annual accounts 2025
micro format, filed on 07-07-2026, 24 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €82,000 and €160,000.
Balance sheet
balance sheet total €218,508 on 31-12-2025in euro
Position in the sector
28.2%
Higher than 33% of 9,696 companies in 2025.
0.91
Higher than 24% of 9,314 companies in 2025.
4.4%
Higher than 36% of 9,438 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
218,508 | 168,330 | 191,084 | 229,446 | 255,019 | 168,830 | 184,268 | 216,342 | 176,799 | 208,415 | 245,121 | 274,100 | 231,707 | 224,951 | 251,171 | 271,641 | 287,856 | 205,735 | 189,263 | 205,549 | |
20 |
- | - | 251 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
21/28 |
181,298 | 144,349 | 170,897 | 207,255 | 218,079 | 140,914 | 166,914 | 191,897 | 173,976 | 207,716 | 241,035 | 274,100 | 216,230 | 199,027 | 232,168 | 263,320 | 258,638 | 203,417 | 179,328 | 198,572 | |
22/27 |
180,773 | 143,824 | 170,372 | 206,730 | 217,554 | 140,389 | 166,914 | 191,897 | 173,976 | 207,716 | 241,035 | 274,100 | 216,230 | 199,027 | 232,168 | 263,320 | 258,638 | 203,417 | 179,328 | 198,572 | |
22 |
174,696 | 140,358 | 164,040 | 196,967 | 211,271 | 140,389 | 165,580 | 189,228 | 170,515 | 201,918 | 233,322 | 262,518 | 201,362 | 182,749 | 204,050 | 232,261 | 217,557 | 157,666 | 171,822 | 191,059 | |
23 |
94 | 391 | 689 | 986 | 1,284 | - | - | - | - | - | - | - | - | 217 | 671 | 1,124 | 1,644 | 1,081 | 298 | 1,802 | |
24 |
5,983 | 3,075 | 5,643 | 8,777 | 4,999 | - | 398 | 797 | 653 | 1,651 | 1,933 | 3,350 | 4,185 | 4,486 | 5,412 | 9,482 | 10,354 | 6,957 | 4,560 | 5,711 | |
26 |
- | - | - | - | - | - | 936 | 1,872 | 2,808 | 4,147 | 5,780 | 7,413 | 9,047 | 10,680 | 12,314 | 4,588 | 5,286 | 5,984 | 2,648 | - | |
28 |
525 | 525 | 525 | 525 | 525 | 525 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
37,210 | 23,981 | 19,936 | 22,191 | 36,940 | 27,916 | 17,354 | 24,445 | 2,823 | 699 | 4,086 | - | 15,477 | 25,924 | 19,003 | 8,321 | 29,218 | 2,318 | 9,935 | 6,977 | |
40/41 |
25,520 | 21,061 | 17,130 | 19,489 | 22,352 | 9,908 | 16,678 | 23,792 | 2,101 | - | 4,086 | - | 7,545 | 23,825 | 5,569 | 8,321 | 616 | - | - | - | |
40 |
19,723 | 21,061 | 17,130 | 19,489 | 16,334 | 9,908 | 16,678 | 23,792 | 671 | - | - | - | 3,156 | 11,067 | - | - | - | - | - | - | |
41 |
5,797 | - | - | - | 6,018 | - | - | - | 1,430 | - | 4,086 | - | 4,389 | 12,758 | 5,569 | 8,321 | 616 | - | - | - | |
54/58 |
8,281 | - | - | - | 11,960 | 17,306 | - | - | - | - | - | - | 7,932 | 2,099 | 13,434 | - | 28,602 | 2,318 | 9,935 | 6,977 | |
490/1 |
3,409 | 2,920 | 2,806 | 2,702 | 2,628 | 702 | 676 | 653 | 722 | 699 | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
218,508 | 168,330 | 191,084 | 229,446 | 255,019 | 168,830 | 184,268 | 216,342 | 176,799 | 208,415 | 245,121 | 274,100 | 231,707 | 224,951 | 251,171 | 271,641 | 287,856 | 205,735 | 189,263 | 205,549 | |
10/15 |
61,578 | 66,066 | 78,601 | 93,856 | 91,879 | 86,529 | 62,959 | 47,083 | 63,470 | 58,980 | 44,878 | 42,260 | 24,336 | 5,940 | 3,524 | 9,681 | 8,881 | 2,852 | -3,001 | -3,691 | |
10/11 |
20,460 | 20,460 | 20,460 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
40,411 | 40,411 | 40,411 | 42,271 | 36,008 | 36,008 | 36,008 | 36,008 | 36,008 | 33,710 | 26,710 | 25,410 | 16,460 | 7,360 | 7,360 | 7,360 | 7,360 | 4,360 | 1,860 | 1,860 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
34,148 | 34,148 | 34,148 | 34,148 | 34,148 | 34,148 | 34,148 | 34,148 | 34,148 | 31,850 | 24,850 | 23,550 | 14,600 | 5,500 | 5,500 | 5,500 | 5,500 | 2,500 | - | - | |
133 |
6,263 | 6,263 | 6,263 | 6,263 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
707 | 5,195 | 17,730 | 32,985 | 37,271 | 31,921 | 8,351 | -7,525 | 8,862 | 6,670 | -432 | -1,750 | -10,724 | -20,020 | -22,436 | -16,279 | -17,079 | -20,108 | -23,461 | -24,151 | |
16 |
- | - | - | - | - | - | - | - | - | - | 12,163 | 12,163 | 12,163 | - | - | - | - | - | - | - | |
160/5 |
- | - | - | - | - | - | - | - | - | - | 12,163 | 12,163 | 12,163 | - | - | - | - | - | - | - | |
17/49 |
156,930 | 102,264 | 112,483 | 135,590 | 163,140 | 82,301 | 121,309 | 169,259 | 113,329 | 149,435 | 188,080 | 219,677 | 195,208 | 219,011 | 247,647 | 261,960 | 278,975 | 202,883 | 192,264 | 209,240 | |
17 |
116,041 | 66,913 | 78,764 | 90,463 | 103,267 | 16,125 | 30,706 | 45,003 | 65,474 | 92,656 | 127,183 | 139,189 | 162,458 | 182,146 | 206,989 | 225,669 | 251,114 | 178,761 | 164,129 | 172,997 | |
170/4 |
116,041 | 66,913 | 78,764 | 90,463 | 103,267 | 16,125 | 30,706 | 45,003 | 65,474 | 92,656 | 127,183 | 139,189 | 162,458 | 182,146 | 206,989 | 225,669 | 251,114 | 178,761 | 164,129 | 172,997 | |
42/48 |
40,889 | 35,351 | 33,719 | 45,127 | 59,873 | 66,176 | 90,603 | 124,256 | 47,646 | 56,779 | 60,897 | 80,488 | 32,750 | 36,865 | 40,658 | 36,291 | 27,861 | 24,122 | 28,135 | 36,243 | |
42 |
17,972 | 11,851 | 11,700 | 19,965 | 33,422 | 21,730 | 14,297 | 20,471 | 26,982 | 34,527 | 33,091 | 23,269 | 21,993 | 20,618 | 20,693 | 25,444 | 23,878 | 14,968 | 8,908 | 11,957 | |
43 |
- | 10,034 | 9,996 | 4,660 | - | - | 9,988 | 9,671 | 11,674 | 972 | 10,304 | 12,744 | - | - | - | 962 | - | - | - | - | |
430/8 |
- | 10,034 | 9,996 | 4,660 | - | - | 9,988 | 9,671 | 11,674 | 972 | 10,304 | 12,744 | - | - | - | 962 | - | - | - | - | |
44 |
4,206 | 5,290 | 2,629 | 4,838 | 8,002 | - | 4,337 | 22,595 | 1,557 | 3,324 | 1,165 | 12,884 | 4,312 | 11,810 | 16,237 | 8,885 | 1,959 | 2,414 | 338 | 204 | |
440/4 |
4,206 | 5,290 | 2,629 | 4,838 | 8,002 | - | 4,337 | 22,595 | 1,557 | 3,324 | 1,165 | 12,884 | 4,312 | 11,810 | 16,237 | 8,885 | 1,959 | 2,414 | 338 | 204 | |
45 |
18,711 | 8,116 | 9,072 | 14,814 | 18,449 | 16,992 | 14,133 | 3,927 | 7,433 | 7,876 | 16,337 | 10,178 | 6,445 | 4,437 | 3,728 | 1,000 | 2,024 | 1,493 | 2,103 | 3,219 | |
450/3 |
18,711 | 8,116 | 9,072 | 14,814 | 18,449 | 16,992 | 14,133 | 3,927 | 7,433 | 7,876 | 16,337 | 10,178 | 6,445 | 4,437 | 3,728 | 1,000 | 2,024 | 1,493 | 2,103 | 3,219 | |
47/48 |
- | 60 | 322 | 850 | - | 27,454 | 47,848 | 67,592 | - | 10,080 | - | 21,413 | - | - | - | - | - | 5,247 | 16,786 | 20,863 | |
492/3 |
- | - | - | - | - | - | - | - | 209 | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||||||
9900 |
49,759 | 28,086 | 39,008 | 57,285 | 43,942 | 62,845 | 59,127 | 37,107 | 49,462 | 73,523 | 60,985 | 68,243 | 81,447 | 56,449 | 58,253 | 61,383 | 62,766 | 51,068 | 40,859 | 33,561 | |
630 |
27,660 | 26,799 | 37,081 | 39,501 | 31,610 | 26,525 | 30,645 | 38,959 | 33,740 | 41,635 | 35,272 | 36,075 | 30,856 | 33,850 | 42,605 | 40,772 | 37,685 | 26,860 | 25,428 | 24,914 | |
635/8 |
- | - | - | - | - | - | - | - | - | - | - | - | 12,163 | - | - | - | - | - | - | - | |
640/8 |
2,132 | 1,978 | 1,987 | 1,468 | 1,573 | 1,974 | 1,932 | 2,829 | 2,867 | 4,017 | 3,139 | 3,046 | 4,110 | 2,940 | 3,245 | 3,228 | 3,698 | 5,496 | 2,554 | 1,725 | |
9901 |
19,967 | -691 | -60 | 16,316 | 10,759 | 34,346 | 26,550 | -4,681 | 12,855 | 27,871 | 22,574 | 29,122 | 34,318 | 19,659 | 12,403 | 17,383 | 21,383 | 18,712 | 12,877 | 6,922 | |
75/76B |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25 | 33 | 1 | 9 | 7 | |
75 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25 | 33 | 1 | 9 | 7 | |
65/66B |
6,257 | 5,849 | 6,330 | 6,616 | 3,341 | 3,517 | 4,277 | 5,786 | 8,365 | 8,844 | 10,324 | 11,198 | 12,668 | 13,753 | 15,967 | 16,604 | 15,197 | 12,860 | 12,186 | 11,724 | |
65 |
6,257 | 5,849 | 6,330 | 6,616 | 3,341 | 3,517 | 4,277 | 5,786 | 8,365 | 8,844 | 10,324 | 11,198 | 12,668 | 13,753 | 15,967 | 16,604 | 15,197 | 12,860 | 12,186 | 11,724 | |
9903 |
13,710 | -6,540 | -6,390 | 9,700 | 7,418 | 30,829 | 22,273 | -10,467 | 4,490 | 19,027 | 12,250 | 17,924 | 21,650 | 5,906 | -3,564 | 804 | 6,219 | 5,853 | 700 | -4,795 | |
67/77 |
4,198 | 281 | 294 | 3,437 | 2,068 | 7,259 | 6,397 | 5,920 | - | 4,925 | 9,632 | - | 3,254 | 3,490 | 2,593 | 4 | 190 | - | 10 | 1 | |
9904 |
9,512 | -6,821 | -6,684 | 6,263 | 5,350 | 23,570 | 15,876 | -16,387 | 4,490 | 14,102 | 2,618 | 17,924 | 18,396 | 2,416 | -6,157 | 800 | 6,029 | 5,853 | 690 | -4,796 | |
689 |
- | - | - | - | - | - | - | - | 2,298 | 7,000 | 1,300 | 8,950 | 9,100 | - | - | - | 3,000 | 2,500 | - | - | |
9905 |
9,512 | -6,821 | -6,684 | 6,263 | 5,350 | 23,570 | 15,876 | -16,387 | 2,192 | 7,102 | 1,318 | 8,974 | 9,296 | 2,416 | -6,157 | 800 | 3,029 | 3,353 | 690 | -4,796 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
14,707 | 10,909 | 26,301 | 43,534 | 37,271 | 31,921 | 8,351 | -7,525 | 8,862 | 6,670 | -432 | -1,750 | -10,724 | -20,020 | -22,436 | -16,279 | -17,079 | -20,108 | -23,461 | -24,151 | |
14P |
5,195 | 17,730 | 32,985 | 37,271 | 31,921 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | 6,263 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
- | - | - | 6,263 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
14,000 | 5,714 | 8,571 | 4,286 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
14,000 | 5,714 | 8,571 | 4,286 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 3 older financial years (2003-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00262291 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00336466 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00193110 | |
| 31-12-2022 | micro format | 07-08-2023 | 2023-00315700 | |
| 31-12-2021 | micro format | 18-08-2022 | 2022-20295851 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43400004 | |
| 31-12-2019 | micro format | 20-08-2020 | 2020-43400379 | |
| 31-12-2018 | micro format | 01-08-2019 | 2019-42400536 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-38500275 | |
| 31-12-2016 | micro format | 06-08-2017 | 2017-41100322 | |
| 31-12-2015 | full format | 30-08-2016 | 2016-56800014 | |
| 31-12-2014 | full format | 31-08-2015 | 2015-55700190 | |
| 31-12-2013 | full format | 13-08-2014 | 2014-42300243 | |
| 31-12-2012 | full format | 30-08-2013 | 2013-50800109 | |
| 31-12-2011 | full format | 29-08-2012 | 2012-46800102 | |
| 31-12-2010 | full format | 30-08-2011 | 2011-46000451 | |
| 31-12-2009 | full format | 26-08-2010 | 2010-48200590 | |
| 31-12-2008 | full format | 31-08-2009 | 2009-67600135 | |
| 31-12-2007 | full format | 25-08-2008 | 2008-64300042 | |
| 31-12-2006 | full format | 10-08-2007 | 2007-55100077 | |
| 31-12-2005 | full format | 22-08-2006 | 2006-64602179 | |
| 31-12-2004 | full format | 03-10-2005 | 2005-79300149 | |
| 31-12-2003 | full format | 27-09-2004 | 2004-66801158 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 47,627 | 26,108 | 37,021 | 55,817 | 42,369 | 60,871 | 57,195 | 34,278 | 46,595 | 69,506 | 57,846 | 65,197 | 65,174 | 53,509 | 55,008 | 58,155 | 59,068 | 45,572 | 38,305 | 31,836 | ||
| 37,172 | 19,978 | 30,397 | 45,764 | 36,960 | 50,095 | 46,521 | 22,572 | 38,230 | 55,737 | 37,890 | 53,999 | 49,252 | 36,266 | 36,448 | 41,572 | 43,714 | 32,713 | 26,118 | 20,118 | ||
| 64,609 | 251 | 723 | 28,677 | 108,775 | 525 | 5,662 | 56,880 | 0 | 8,316 | 2,207 | 93,945 | 48,059 | 12,608 | 11,453 | 45,454 | 92,906 | 50,949 | 9,489 | 888 | ||
| - | - | - | - | -5,346 | - | - | - | - | - | - | - | 5,833 | -11,335 | - | - | 26,284 | -7,617 | 2,958 | - | ||
| -3,679 | -11,370 | -13,783 | -22,936 | -22,933 | -38,260 | -73,249 | -99,811 | -44,823 | -56,080 | -56,811 | - | -17,273 | -10,941 | -21,655 | -27,970 | 1,357 | -21,804 | -18,200 | -29,266 | ||
| 28.2% | 39.2% | 41.1% | 40.9% | 36.0% | 51.3% | 34.2% | 21.8% | 35.9% | 28.3% | 18.3% | 15.4% | 10.5% | 2.6% | 1.4% | 3.6% | 3.1% | 1.4% | -1.6% | -1.8% | ||
| 0.91 | 0.68 | 0.59 | 0.49 | 0.62 | 0.42 | 0.19 | 0.20 | 0.06 | 0.01 | 0.07 | - | 0.47 | 0.70 | 0.47 | 0.23 | 1.05 | 0.10 | 0.35 | 0.19 | ||
| 2.55 | 1.55 | 1.43 | 1.44 | 1.78 | 0.95 | 1.93 | 3.59 | 1.79 | 2.53 | 4.19 | 5.20 | 8.02 | 36.87 | 70.27 | 27.06 | 31.41 | 71.14 | - | - | ||
| 15.4% | -10.3% | -8.5% | 6.7% | 5.8% | 27.2% | 25.2% | -34.8% | 7.1% | 23.9% | 5.8% | 42.4% | 75.6% | 40.7% | -174.7% | 8.3% | 67.9% | 205.2% | - | - | ||
| 4.4% | -4.1% | -3.5% | 2.7% | 2.1% | 14.0% | 8.6% | -7.6% | 2.5% | 6.8% | 1.1% | 6.5% | 7.9% | 1.1% | -2.5% | 0.3% | 2.1% | 2.8% | 0.4% | -2.3% | ||
| 7.61 | 4.46 | 5.85 | 8.44 | 12.68 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €64,609 | - | - | €28,677 | €108,775 |
| €27,660 | €26,799 | €37,081 | €39,501 | €31,610 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on 2 WAYS
The operating result for 2025 is a profit of €19,967, after a loss of €691 in 2024. It is the highest result since 2020.
Debt's share of the balance-sheet total rises from 60.8% to 71.8%. Equity is lower and debt is higher.