2EXCELERATE
Dissolved and wound up on 31-03-2026Financials · financial year 2026, micro format
Annual accounts 2026 filed on 15-07-2026 at the NBB all 6 filings
Equity
€15,609▼ 71.9%
2025 · €55,569
Total assets
€15,609▼ 90.1%
2025 · €157,192
Net result
-€39,961▼ 71.3%
2025 · -€23,327
Working capital
€15,609▼ 26.2%
2025 · €21,151
Multi-year overview
2021 to 2026, 6 financial yearsOperating result
-€38,752
▼ 92.9%
2026
20212026
Net result
-€39,961
▼ 71.3%
2026
20212026
Equity
€15,609
▼ 71.9%
2026
20212026
Total assets
€15,609
▼ 90.1%
2026
20212026
Debt
€0
▼ 100%
2026
20212026
Working capital
€15,609
▼ 26.2%
2026
20212026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023202420252026
Operating result€12,292-€6,026▼ 51.0%€5,255▼ 12.8%€5,365▲ 2.1%-€20,085-€38,752▼ 92.9%
Net result€10,233-€4,809▼ 53.0%€1,379▼ 71.3%€3,182▲ 131%-€23,327-€39,961▼ 71.3%
Equity€69,527-€74,335▲ 6.9%€75,714▲ 1.9%€78,896▲ 4.2%€55,569▼ 29.6%€15,609▼ 71.9%
Total assets€190,741-€176,297▼ 7.6%€144,723▼ 17.9%€198,024▲ 36.8%€157,192▼ 20.6%€15,609▼ 90.1%
Debt€121,215-€101,962▼ 15.9%€69,009▼ 32.3%€119,128▲ 72.6%€98,551▼ 17.3%€0▼ 100%
Working capital€56,267-€52,705▼ 6.3%€83,424▲ 58.3%€55,401▼ 33.6%€21,151▼ 61.8%€15,609▼ 26.2%
The operating result for 2026 is a loss of €38,752, larger than the loss of €20,085 in 2025. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
EBITDA
-€38,752▼
2025 · -€5,243
Cash flow
-€39,961▼
2025 · -€8,485
Solvency
100.0%▲
2025 · 35.4%
Debt to equity
0.00▼
2025 · 1.77
ROE
-256.0%▼
2025 · -42.0%
ROA
-256.0%▼
2025 · -14.8%
Interest coverage
-32.06▼
2025 · -1.62
Debt ≤ 1 year
€0▼
2025 · €98,551
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €17,713 | - | €42,552 | - | - |
| Intangible fixed assets | - | €830 | - | €1,033 | - |
| Financial fixed assets | - | - | - | €0 | €0 |
| Depreciation and write-downs of the year | €3,427 | €6,738 | €12,194 | €14,842 | €0 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · €2,105 awarded · €2,105 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €71 | €71 |
| 2022 | 1 | €2,034 | €2,034 |
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,776 | €3,427 | €6,738 | €12,194 | €14,842 | €0 | ▼ 100% |
| Other operating charges640/8 | €1,597 | €576 | €900 | €755 | €1,079 | €67 | ▼ 93.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €36,740 | - |
| Gross operating margin9900 | €17,665 | €10,029 | €12,893 | €18,313 | -€4,164 | -€1,945 | ▲ 53.3% |
| Operating profit (loss)9901 | €12,292 | €6,026 | €5,255 | €5,365 | -€20,085 | -€38,752 | ▼ 92.9% |
| Financial income75/76B | €0 | - | €13 | €21 | €0 | - | - |
| Recurring financial income75 | €0 | - | €13 | €21 | €0 | - | - |
| Financial charges65/66B | €310 | €750 | €3,087 | €1,748 | €3,242 | €1,209 | ▼ 62.7% |
| Recurring financial charges65 | €310 | €750 | €3,087 | €1,748 | €3,242 | €1,209 | ▼ 62.7% |
| Profit (loss) for the period before taxes9903 | €11,982 | €5,276 | €2,181 | €3,637 | -€23,327 | -€39,961 | ▼ 71.3% |
| Income taxes67/77 | €1,750 | €468 | €802 | €456 | €0 | - | - |
| Profit (loss) for the period9904 | €10,233 | €4,809 | €1,379 | €3,182 | -€23,327 | -€39,961 | ▼ 71.3% |
| Profit (loss) for the period to be appropriated9905 | €10,233 | €4,809 | €1,379 | €3,182 | -€23,327 | -€39,961 | ▼ 71.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €190,741 | €176,297 | €144,723 | €198,024 | €157,192 | €15,609 | ▼ 90.1% |
| Fixed assets21/28 | €13,259 | €27,545 | €21,637 | €51,996 | €37,490 | €0 | ▼ 100% |
| Intangible fixed assets21 | €11,813 | €8,695 | €6,330 | €3,047 | €1,290 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | €17,404 | €13,861 | €47,503 | €35,450 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €17,404 | €13,861 | €47,503 | €35,450 | €0 | ▼ 100% |
| Financial fixed assets28 | €1,446 | €1,446 | €1,446 | €1,446 | €750 | €0 | ▼ 100% |
| Current assets29/58 | €177,482 | €148,752 | €123,086 | €146,028 | €119,702 | €15,609 | ▼ 87.0% |
| Amounts receivable within one year40/41 | €105,492 | €119,776 | €67,224 | €119,542 | €63,509 | €0 | ▼ 100% |
| Trade receivables40 | €100,691 | €102,868 | €57,497 | €116,522 | €59,370 | €0 | ▼ 100% |
| Other amounts receivable41 | €4,801 | €16,908 | €9,726 | €3,019 | €4,138 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €71,990 | €28,337 | €55,181 | €24,334 | €55,997 | €15,609 | ▼ 72.1% |
| Deferred charges and accrued income490/1 | - | €639 | €681 | €2,153 | €195 | €0 | ▼ 100% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €190,741 | €176,297 | €144,723 | €198,024 | €157,192 | €15,609 | ▼ 90.1% |
| Equity10/15 | €69,527 | €74,335 | €75,714 | €78,896 | €55,569 | €15,609 | ▼ 71.9% |
| Contributions10/11 | €59,294 | €59,294 | €59,294 | €59,294 | €59,294 | €59,294 | = |
| Reserves13 | €10,233 | €15,041 | €16,420 | €19,602 | €0 | - | - |
| Distributable reserves133 | €10,233 | €15,041 | €16,420 | €19,602 | €0 | - | - |
| Profit (loss) carried forward14 | - | - | - | - | -€3,725 | -€43,686 | ▼ 1,073% |
| Provisions and deferred taxes16 | - | - | - | - | €3,071 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | - | €3,071 | €0 | ▼ 100% |
| Other liabilities and charges164/5 | - | - | - | - | €3,071 | €0 | ▼ 100% |
| Amounts payable17/49 | €121,215 | €101,962 | €69,009 | €119,128 | €98,551 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €121,215 | €96,047 | €39,662 | €90,628 | €98,551 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | €25,000 | €25,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €25,000 | €25,000 | €0 | ▼ 100% |
| Trade debts44 | €119,496 | €95,083 | €38,392 | €64,370 | €73,551 | €0 | ▼ 100% |
| Suppliers440/4 | €119,496 | €95,083 | €38,392 | €64,370 | €73,551 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €1,718 | €964 | €1,270 | €1,258 | €0 | - | - |
| Taxes450/3 | €1,718 | €964 | €1,270 | €1,258 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €5,915 | €29,348 | €28,500 | €1 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,233 | €4,809 | €1,379 | €3,182 | -€23,327 | -€39,961 | ▼ 71.3% |
| + Depreciation and write-downs630 | €3,776 | €3,427 | €6,738 | €12,194 | €14,842 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €14,008 | €8,235 | €8,117 | €15,375 | -€8,485 | -€39,961 | ▼ 371% |
| Investment in fixed assets (approximation) | - | -€17,713 | -€830 | -€42,552 | -€337 | €37,490 | - |
| Change in cash | - | -€43,653 | €26,844 | -€30,847 | €31,663 | -€40,389 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 15-07-2026 | 2026-00304095 | |
| 31-12-2025 | micro format | 23-03-2026 | 2026-00059181 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00215329 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00175973 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00244911 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20104400 |