25Frames
Annual accounts 2025
micro format, filed on 27-07-2026, 4 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 ≈ €270,000. Estimated: probably between €180,000 and €410,000.
Balance sheet
balance sheet total €1.3m on 31-12-2025in euro
in €m
Position in the sector
27.7%
Higher than 34% of 2,486 companies in 2025.
1.01
Higher than 28% of 2,349 companies in 2025.
-1.9%
Higher than 29% of 2,394 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
Staff
€56,967
Staff costs divided by the average number of full-time equivalents.
level
In 2025, 1 person joined and 1 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
1.3m | 259,949 | 255,015 | 260,436 | |
21/28 |
1.1m | 39,614 | 56,737 | 65,805 | |
21 |
0 | 710 | 1,543 | 2,377 | |
22/27 |
1.1m | 34,304 | 50,594 | 58,828 | |
22 |
1.0m | - | - | - | |
23 |
4,031 | 16,551 | 30,076 | 42,993 | |
24 |
10,616 | 11,646 | 13,650 | 11,571 | |
26 |
5,347 | 6,107 | 6,868 | 4,264 | |
28 |
0 | 4,600 | 4,600 | 4,600 | |
29/58 |
216,718 | 220,335 | 198,278 | 194,631 | |
40/41 |
201,153 | 186,937 | 131,958 | 171,300 | |
40 |
201,153 | 181,937 | 129,185 | 170,985 | |
41 |
0 | 5,000 | 2,773 | 315 | |
54/58 |
15,277 | 32,729 | 66,319 | 21,439 | |
490/1 |
288 | 669 | 0 | 1,892 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
1.3m | 259,949 | 255,015 | 260,436 | |
10/15 |
352,641 | 144,471 | 131,558 | 104,517 | |
10/11 |
10,000 | 10,000 | 5,000 | 5,000 | |
14 |
110,784 | 134,471 | 126,558 | 99,517 | |
15 |
231,857 | - | - | - | |
17/49 |
919,533 | 115,479 | 123,457 | 155,919 | |
17 |
703,704 | 8,193 | 15,340 | - | |
170/4 |
703,704 | 8,193 | 15,340 | - | |
42/48 |
213,579 | 107,036 | 107,854 | 155,807 | |
42 |
34,767 | 7,147 | 6,766 | - | |
44 |
43,716 | 21,075 | 58,632 | 107,646 | |
440/4 |
43,716 | 21,075 | 58,632 | 107,646 | |
45 |
33,839 | 23,439 | 32,456 | 27,929 | |
450/3 |
33,839 | 20,979 | 30,072 | 27,929 | |
454/9 |
0 | 2,460 | 2,384 | - | |
47/48 |
101,258 | 55,375 | 10,000 | 20,232 | |
492/3 |
2,250 | 250 | 263 | 113 | |
| Income statement | |||||
9900 |
106,671 | 82,829 | 58,055 | 124,799 | |
62 |
45,573 | 47,403 | 3,612 | - | |
630 |
40,347 | 19,639 | 18,272 | 2,131 | |
640/8 |
400 | - | - | - | |
9901 |
20,351 | 15,788 | 36,170 | 122,667 | |
75/76B |
3,798 | 0 | 5 | 20 | |
75 |
3,798 | 0 | 5 | 20 | |
65/66B |
47,836 | 4,239 | 1,911 | 322 | |
65 |
47,836 | 4,239 | 1,911 | 322 | |
9903 |
-23,686 | 11,549 | 34,265 | 122,366 | |
67/77 |
0 | 3,636 | 7,223 | 22,849 | |
9904 |
-23,686 | 7,912 | 27,042 | 99,517 | |
9905 |
-23,686 | 7,912 | 27,042 | 99,517 | |
| Appropriation of the result | |||||
9906 |
110,784 | 134,471 | 126,558 | 99,517 | |
14P |
134,471 | 126,558 | 99,517 | - | |
| Social balance sheet | |||||
9087 |
0.8 | 0.8 | 0.1 | - | |
Hours worked1013 |
1,524 | 1,463 | 76 | - | |
| Document | |||||
The notes to these accounts have 17 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 27-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 60,698 | 35,426 | 54,443 | 124,799 | ||
| 16,661 | 27,551 | 45,314 | 101,648 | ||
| 1.1m | 2,515 | 13,805 | 67,936 | ||
| -17,452 | -33,590 | 44,880 | - | ||
| 3,139 | 113,300 | 90,424 | 38,824 | ||
| 27.7% | 55.6% | 51.6% | 40.1% | ||
| 1.01 | 2.06 | 1.84 | 1.25 | ||
| 2.61 | 0.80 | 0.94 | 1.49 | ||
| -6.7% | 5.5% | 20.6% | 95.2% | ||
| -1.9% | 3.0% | 10.6% | 38.2% | ||
| 1.27 | 8.36 | 28.49 | over 100 |
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 |
| in full-time equivalents | 1 | 0 | 1 |
| 0.8 | 0.8 | 0.1 | |
| On a permanent contract | 0 | 1 | 1 |
| Joined | 1 | 1 | 1 |
| Left | 1 | 1 | 0 |
| Training hours | 0 | - | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €1.1m | €2,515 | €9,205 | €60,836 |
| Intangible fixed assets | - | - | - | €2,500 |
| Financial fixed assets | €0 | - | €4,600 | €4,600 |
| €40,347 | €19,639 | €18,272 | €2,131 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on 25Frames
The operating result for 2025 is 29% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 44.4% to 72.3%. Equity and debt are higher.