A&E
Annual accounts 2025
abbreviated format, filed on 22-04-2026, 100 days before the deadlineTurnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.2m. Estimated: probably between €1.1m and €1.6m.
Money flows
no detail for 2025Balance sheet
balance sheet total €4.6m on 31-12-2025in €m
in euro
Position in the sector
80.0%
Higher than 71% of 3,053 companies in 2025.
4.97
Higher than 70% of 2,997 companies in 2025.
13.8%
Higher than 49% of 3,009 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: 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 |
4.6m | 4.3m | 4.3m | 4.0m | 3.8m | 3.6m | 3.7m | 4.3m | 3.9m | 3.3m | 2.8m | 2.7m | 2.7m | 2.4m | 2.5m | 2.5m | 2.5m | 1.8m | 1.4m | 1.3m | |
21/28 |
14,497 | 34,998 | 53,289 | 68,125 | 84,658 | 1.1m | 1.1m | 1.2m | 1.3m | 1.3m | 1.4m | 1.4m | 1.5m | 1.6m | 1.6m | 1.6m | 1.7m | 666,435 | 666,459 | 381,685 | |
22/27 |
8,921 | 29,422 | 47,713 | 68,125 | 84,658 | 1.1m | 1.1m | 1.2m | 1.3m | 1.3m | 1.4m | 1.4m | 1.5m | 1.6m | 1.6m | 1.6m | 1.7m | 666,435 | 666,459 | 381,685 | |
22 |
- | - | - | - | 0 | 1.0m | 1.1m | 1.2m | 1.2m | 1.3m | 1.3m | 1.4m | 1.4m | 1.5m | 1.5m | 1.5m | 1.5m | 525,310 | 501,459 | 359,918 | |
23 |
- | - | - | 0 | 90 | 376 | 716 | 2,466 | 4,130 | 2,777 | 3,173 | 2,083 | 3,314 | 330 | 881 | 688 | 495 | - | - | 392 | |
24 |
8,921 | 29,422 | 47,713 | 68,125 | 78,665 | 95,407 | 198 | 486 | 7,762 | 15,038 | 33,713 | 55,385 | 42,872 | 92,509 | 106,186 | 123,332 | 148,671 | 141,125 | 165,000 | 21,375 | |
25 |
- | - | - | - | 5,903 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
26 |
- | - | - | - | - | - | - | - | - | - | - | 470 | 1,139 | 2,029 | 2,918 | 1,456 | 1,340 | - | - | - | |
28 |
5,576 | 5,576 | 5,576 | - | 0 | 50 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
4.5m | 4.3m | 4.2m | 4.0m | 3.8m | 2.5m | 2.6m | 3.1m | 2.6m | 2.0m | 1.5m | 1.3m | 1.2m | 873,142 | 922,655 | 851,095 | 827,445 | 1.1m | 778,715 | 876,166 | |
29 |
421,838 | 251,400 | - | - | - | - | - | - | - | - | - | 250,631 | - | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | - | - | - | - | - | - | 150,631 | - | - | - | - | - | - | - | - | |
291 |
421,838 | 251,400 | - | - | - | - | - | - | - | - | - | 100,000 | - | - | - | - | - | - | - | - | |
40/41 |
3.9m | 3.7m | 3.9m | 2.4m | 3.0m | 1.9m | 2.2m | 2.4m | 2.1m | 1.5m | 283,074 | 46,581 | 17,627 | 49,300 | 71,895 | 48,651 | 39,547 | 28,878 | 21,720 | 27,696 | |
40 |
179,247 | 42,015 | 63,226 | 114,686 | 25,000 | 7,027 | 279,869 | 289,980 | 300,127 | 343,041 | 283,074 | - | - | - | - | - | - | - | - | - | |
41 |
3.7m | 3.7m | 3.8m | 2.3m | 3.0m | 1.9m | 2.0m | 2.1m | 1.8m | 1.2m | - | 46,581 | 17,627 | 49,300 | 71,895 | 48,651 | 39,547 | 28,878 | 21,720 | 27,696 | |
50/53 |
- | 0 | 100,000 | - | - | - | - | - | - | - | - | 541,345 | 641,346 | 541,345 | 526,171 | 515,435 | 501,133 | 462,248 | 448,767 | 430,060 | |
54/58 |
158,407 | 135,093 | 126,567 | 1.4m | 536,745 | 439,094 | 322,074 | 715,648 | 527,994 | 526,343 | 1.2m | 414,535 | 295,371 | 7,924 | 9,722 | 36,339 | 18,019 | 521,520 | 280,958 | 390,232 | |
490/1 |
111,068 | 163,087 | 146,203 | 177,578 | 185,341 | 149,524 | 13,749 | 13,142 | - | - | - | - | 265,246 | 274,572 | 314,867 | 250,669 | 268,747 | 128,035 | 27,270 | 28,178 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
4.6m | 4.3m | 4.3m | 4.0m | 3.8m | 3.6m | 3.7m | 4.3m | 3.9m | 3.3m | 2.8m | 2.7m | 2.7m | 2.4m | 2.5m | 2.5m | 2.5m | 1.8m | 1.4m | 1.3m | |
10/15 |
3.6m | 3.8m | 3.5m | 3.4m | 3.1m | 2.9m | 2.6m | 4.1m | 3.5m | 3.0m | 2.6m | 2.2m | 1.9m | 2.4m | 2.2m | 2.0m | 1.8m | 1.7m | 1.4m | 1.2m | |
10/11 |
20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
100 |
- | - | - | - | - | - | 20,000 | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
13 |
3.6m | 3.7m | 3.4m | 3.3m | 3.0m | 2.8m | 2.6m | 2.1m | 1.4m | 992,728 | 491,130 | 31,271 | 1,855 | 2.4m | 2.2m | 2.0m | 1.8m | 1.6m | 1.4m | 1.2m | |
130/1 |
196,942 | 196,942 | 196,942 | 198,797 | 198,797 | 198,797 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 198,797 | 198,797 | 198,797 | 198,797 | 198,797 | 31,271 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | |
1311 |
196,942 | 196,942 | 196,942 | 198,797 | 198,797 | 198,797 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
3.4m | 3.5m | 3.2m | 3.1m | 2.8m | 2.6m | 2.4m | 1.9m | 1.2m | 793,931 | 292,333 | - | - | 2.4m | 2.2m | 2.0m | 1.8m | 1.6m | 1.4m | 1.2m | |
14 |
43,941 | 43,941 | 43,941 | 43,941 | 43,941 | 43,941 | 43,941 | 43,941 | 43,941 | 24,418 | 88,020 | 134,681 | -39,865 | 5,025 | 3,243 | 2,810 | 4,828 | 5,326 | 3,911 | 5,490 | |
17/49 |
913,688 | 558,067 | 823,065 | 617,052 | 783,049 | 762,005 | 1.1m | 180,298 | 455,566 | 329,876 | 258,240 | 533,391 | 740,082 | 52,086 | 300,002 | 417,036 | 662,576 | 156,384 | 30,858 | 26,957 | |
17 |
- | - | - | - | - | - | 1.1m | - | - | - | - | 229,997 | 262,255 | - | - | - | - | - | - | - | |
170/4 |
- | - | - | - | - | - | 1.1m | - | - | - | - | 229,997 | 262,255 | - | - | - | - | - | - | - | |
42/48 |
913,688 | 558,067 | 823,065 | 610,591 | 775,967 | 762,005 | 1,058 | 180,298 | 455,566 | 329,876 | 258,240 | 303,394 | 477,827 | 30,073 | 289,861 | 417,036 | 659,267 | 22,304 | 20,273 | 11,556 | |
42 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 350,000 | - | - | - | |
43 |
- | - | - | - | - | - | - | 255 | 316,543 | 70,975 | 45,607 | 300,000 | - | 4,581 | 265,000 | 400,000 | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 109,566 | 70,799 | - | 300,000 | - | 4,581 | 265,000 | 400,000 | - | - | - | - | |
439 |
- | - | - | - | - | - | - | 255 | 206,977 | 176 | 45,607 | - | - | - | - | - | - | - | - | - | |
44 |
32,001 | 44,816 | 42,035 | 92,084 | 32,555 | 94,007 | 1,058 | 1,228 | 12,960 | 5,864 | 1,580 | 453 | 477,827 | - | - | - | 279,566 | - | - | - | |
440/4 |
32,001 | 44,816 | 42,035 | 92,084 | 32,555 | 94,007 | 1,058 | 1,228 | 12,960 | 5,864 | 1,580 | 453 | 477,827 | - | - | - | 279,566 | - | - | - | |
45 |
168,663 | 88,560 | 125,160 | 112,861 | 27,364 | 29,153 | - | 178,815 | 126,063 | 253,037 | 211,053 | 2,941 | - | - | 24,861 | 17,036 | - | - | - | 11,556 | |
450/3 |
168,663 | 88,560 | 122,660 | 112,861 | 27,364 | 29,153 | - | 178,815 | 126,063 | 253,037 | 211,053 | 2,941 | - | - | 24,861 | 17,036 | - | - | - | 11,556 | |
454/9 |
- | 0 | 2,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
713,024 | 424,690 | 655,869 | 405,646 | 716,047 | 638,844 | - | - | - | - | - | - | - | 25,492 | - | - | 29,700 | 22,304 | 20,273 | - | |
492/3 |
- | - | 0 | 6,461 | 7,082 | - | - | - | - | - | - | - | - | 22,012 | 10,140 | - | 3,309 | 134,079 | 10,585 | 15,401 | |
| Income statement | |||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 590,628 | |
76A |
- | - | - | 0 | 330,483 | 476,732 | - | 141,380 | - | - | - | - | - | - | - | - | - | - | 5,000 | - | |
9900 |
781,629 | 986,977 | 1.1m | 1.1m | 958,773 | 1.1m | 721,674 | 968,998 | 779,891 | 793,723 | 676,518 | 305,119 | -50,683 | 306,925 | 332,039 | 400,522 | 291,733 | 395,848 | 314,396 | 403,621 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 187,554 | |
62 |
- | - | 324 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
630 |
21,906 | 21,638 | 21,798 | 20,675 | 40,122 | 19,757 | 36,460 | 45,130 | 51,103 | 65,169 | 68,857 | 71,450 | 64,921 | 62,998 | 86,122 | 74,489 | 60,498 | 75,486 | 77,657 | 33,144 | |
640/8 |
1,316 | 1,514 | 1,161 | 2,377 | 128,983 | 6,719 | 7,341 | 9,678 | 6,421 | 6,744 | 6,852 | 5,510 | 5,878 | 5,143 | 4,117 | 2,570 | 9,270 | 2,704 | 2,527 | 2,365 | |
66A |
- | - | - | - | 0 | 54 | - | - | - | - | 46,003 | - | - | - | - | - | - | - | - | - | |
9901 |
758,407 | 963,825 | 1.1m | 1.1m | 789,668 | 1.1m | 677,873 | 914,190 | 722,367 | 721,810 | 600,809 | 228,159 | -121,482 | 238,783 | 241,800 | 323,464 | 221,965 | 317,658 | 234,212 | 368,112 | |
75/76B |
176,113 | 127,808 | 71,923 | 24,910 | 19,125 | 18,919 | 18,722 | 159,743 | 15,070 | 1,613 | 1,461 | 2,436 | 1,357 | 15,223 | 14,831 | 14,448 | 16,646 | 23,217 | 26,103 | 23,128 | |
75 |
176,113 | 127,808 | 71,923 | 24,910 | 19,125 | 18,919 | 18,722 | 18,363 | 15,070 | 1,613 | 1,461 | 2,436 | 1,357 | 15,223 | 14,831 | 14,448 | 16,646 | 23,217 | 26,103 | 23,128 | |
76B |
- | - | - | - | - | - | - | 141,380 | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
305 | 3,219 | 2,004 | 17,913 | 10,901 | 16,695 | 574 | 2,671 | 7,842 | 1,025 | 6,796 | 224 | 1,467 | 4,841 | 8,909 | 7,871 | 6,115 | 127 | 867 | 2,236 | |
65 |
305 | 3,219 | 2,004 | 17,913 | 10,901 | 16,695 | 574 | 2,671 | 7,842 | 1,025 | 6,796 | 224 | 1,467 | 4,841 | 8,909 | 7,871 | 6,115 | 127 | 867 | 2,236 | |
9903 |
934,215 | 1.1m | 1.1m | 1.1m | 797,892 | 1.1m | 696,021 | 1.1m | 729,595 | 722,398 | 549,471 | 230,371 | -121,592 | 249,165 | 247,721 | 330,040 | 232,495 | 340,749 | 264,448 | 389,004 | |
67/77 |
303,702 | 351,991 | 376,677 | 353,058 | 203,650 | 346,373 | 248,979 | 380,873 | 283,076 | 284,402 | 136,273 | 26,409 | 95,055 | 72,383 | 82,289 | 112,058 | 57,993 | 104,334 | 81,026 | 127,335 | |
9904 |
630,513 | 736,423 | 763,465 | 742,332 | 594,242 | 750,551 | 447,042 | 690,389 | 446,519 | 437,996 | 413,198 | 203,962 | -216,647 | 176,782 | 165,433 | 217,982 | 174,502 | 236,415 | 183,422 | 261,669 | |
789 |
- | - | - | - | - | - | - | - | - | - | - | - | 2.4m | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | - | - | 426,996 | 88,020 | 145,334 | - | - | - | - | - | - | - | - | - | |
9905 |
630,513 | 736,423 | 763,465 | 742,332 | 594,242 | 750,551 | 447,042 | 690,389 | 19,523 | 349,976 | 267,864 | 203,962 | 2.1m | 176,782 | 165,433 | 217,982 | 174,502 | 236,415 | 183,422 | 261,669 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
674,454 | 780,363 | 807,406 | 786,273 | 638,183 | 794,492 | 490,983 | 734,330 | 43,941 | 437,996 | 402,545 | 164,097 | 2.1m | 180,025 | 168,243 | 222,810 | 179,828 | 240,326 | 188,911 | 265,490 | |
14P |
43,941 | 43,941 | 43,941 | 43,941 | 43,941 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
750,551 | 447,043 | 690,389 | 426,996 | 413,578 | 489,275 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
630,513 | 736,423 | 763,465 | 742,332 | 594,242 | 750,551 | 447,042 | 690,389 | - | 413,578 | 314,525 | 29,416 | - | 175,000 | 165,000 | 220,000 | 175,000 | 235,000 | 185,000 | 260,000 | |
6920 |
- | - | - | - | - | - | - | - | - | - | 22,192 | 29,416 | - | - | - | - | - | - | - | - | |
6921 |
630,513 | 736,423 | 763,465 | 742,332 | 594,242 | 750,551 | 447,042 | 690,389 | - | 413,578 | 292,333 | - | - | 175,000 | 165,000 | 220,000 | 175,000 | 235,000 | 185,000 | 260,000 | |
694/7 |
750,551 | 447,043 | 690,389 | 426,996 | 413,578 | 489,275 | - | - | - | - | - | - | 2.2m | - | - | - | - | - | - | - | |
694 |
750,551 | 447,043 | 690,389 | 426,996 | 413,578 | 489,275 | - | - | - | - | - | - | 2.2m | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 15 older financial years (1991-2005) were filed as documents without figures as data, scans for example.
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 filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 22-04-2026.
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 | abbreviated format | 22-04-2026 | 2026-00084906 | |
| 31-12-2024 | abbreviated format | 10-06-2025 | 2025-00130947 | |
| 31-12-2023 | abbreviated format | 26-06-2024 | 2024-00163273 | |
| 31-12-2022 | abbreviated format | 17-07-2023 | 2023-00247153 | |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20345104 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-64100419 | |
| 31-12-2019 | abbreviated format | 12-08-2020 | 2020-40400173 | |
| 31-12-2018 | abbreviated format | 21-08-2019 | 2019-47900229 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-53300052 | |
| 31-12-2016 | abbreviated format | 11-08-2017 | 2017-42600099 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-51400432 | |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-50500467 | |
| 31-12-2013 | abbreviated format | 29-09-2014 | 2014-60200288 | |
| 31-12-2012 | abbreviated format | 30-11-2013 | 2013-67800101 | |
| 31-12-2011 | abbreviated format | 31-10-2012 | 2012-63300498 | |
| 31-12-2010 | abbreviated format | 31-12-2011 | 2011-66100023 | |
| 31-12-2009 | abbreviated format | 15-11-2010 | 2010-60700127 | |
| 31-12-2008 | abbreviated format | 31-10-2009 | 2009-84700189 | |
| 31-12-2007 | abbreviated format | 30-12-2008 | 2008-87900024 | |
| 31-12-2006 | abbreviated format | 28-08-2007 | 2007-63600019 | |
| 31-12-2005 | abbreviated format | 30-08-2006 | 2006-73502705 | |
| 31-12-2004 | abbreviated format | 21-09-2005 | 2005-69401718 | |
| 31-12-2003 | abbreviated format | 05-11-2004 | 2004-78002655 | |
| 31-12-2002 | abbreviated format | 31-07-2003 | 2003-56201968 | |
| 31-12-2001 | abbreviated format | 17-09-2002 | 2002-56300336 | |
| 31-12-2000 | abbreviated format | 27-12-2001 | 2001-78403222 | |
| 31-12-1999 | abbreviated format | 20-10-2000 | 2000-66703000 | |
| 31-12-1998 | abbreviated format | 22-12-1999 | 1999-64200385 | |
| 31-12-1997 | abbreviated format | 07-10-1998 | 1998-51701165 | |
| 31-12-1996 | abbreviated format | 28-08-1997 | 1997-40103107 | |
| 31-12-1995 | abbreviated format | 11-09-1996 | 1996-43302640 | |
| 31-12-1994 | abbreviated format | 07-08-1995 | 1995-44503762 | |
| 31-12-1993 | abbreviated format | 27-03-1995 | 1995-04404339 | |
| 31-12-1992 | abbreviated format | 09-07-1993 | 1993-25500328 | |
| 31-12-1991 | abbreviated format | 23-09-1992 | 1992-32604618 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 780,313 | 985,463 | 1.1m | 1.1m | 829,790 | 1.1m | 714,333 | 959,320 | 773,470 | 786,979 | 669,666 | 299,609 | -56,561 | 301,782 | 327,922 | 397,952 | 282,463 | 393,144 | 311,869 | 401,256 | ||
| 652,419 | 758,061 | 785,262 | 763,007 | 634,364 | 770,308 | 483,502 | 735,519 | 497,622 | 503,165 | 482,055 | 275,412 | -151,726 | 239,781 | 251,555 | 292,471 | 234,999 | 311,901 | 261,078 | 294,813 | ||
| 1,405 | 3,347 | 6,961 | 4,142 | 9,051 | 96,452 | 0 | 451 | 4,335 | 2,353 | 4,060 | 35,219 | 54,748 | 41,377 | 62,961 | 23,282 | 1.0m | 75,462 | 362,431 | 33,337 | ||
| 23,313 | 8,526 | -1.2m | 815,637 | 97,651 | 117,020 | -393,574 | 187,654 | 1,651 | -646,519 | 758,327 | 119,164 | 287,447 | -1,798 | -26,617 | 18,320 | -503,501 | 240,562 | -109,275 | - | ||
| 3.6m | 3.7m | 3.4m | 3.3m | 3.0m | 1.8m | 2.6m | 3.0m | 2.2m | 1.7m | 1.2m | 949,698 | 741,763 | 843,069 | 632,793 | 434,058 | 168,179 | 1.1m | 758,443 | 864,611 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 62.3% | ||
| 80.0% | 87.1% | 80.8% | 84.6% | 79.6% | 79.1% | 70.4% | 95.8% | 88.3% | 90.1% | 90.9% | 80.2% | 72.5% | 97.9% | 88.0% | 83.0% | 73.4% | 91.3% | 97.9% | 97.9% | ||
| 4.97 | 7.68 | 5.16 | 6.47 | 4.85 | 3.32 | - | 17.42 | 5.81 | 6.15 | 5.64 | 4.13 | 2.55 | 29.03 | 3.18 | 2.04 | 1.26 | 51.14 | 38.41 | 75.82 | ||
| 0.25 | 0.15 | 0.24 | 0.18 | 0.26 | 0.26 | 0.42 | 0.04 | 0.13 | 0.11 | 0.10 | 0.25 | 0.38 | 0.02 | 0.14 | 0.20 | 0.36 | 0.09 | 0.02 | 0.02 | ||
| 17.3% | 19.6% | 22.0% | 21.8% | 19.4% | 26.0% | 17.1% | 16.7% | 12.9% | 14.6% | 16.1% | 9.5% | -11.1% | 7.4% | 7.5% | 10.7% | 9.6% | 14.3% | 13.0% | 21.3% | ||
| 13.8% | 17.0% | 17.8% | 18.5% | 15.5% | 20.6% | 12.0% | 16.0% | 11.4% | 13.1% | 14.6% | 7.6% | -8.1% | 7.3% | 6.6% | 8.9% | 7.0% | 13.1% | 12.7% | 20.8% | ||
| over 100 | over 100 | over 100 | 61.91 | 76.12 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 17 days |
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 | €1,405 | €3,347 | €1,385 | €4,142 | €9,051 |
| Financial fixed assets | €0 | - | €5,576 | - | - |
| €21,906 | €21,638 | €21,798 | €20,675 | €40,122 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on A&E
The operating result for 2025 is 21% lower than in 2024 and the lowest since 2019. It is the third fall in a row.
Debt's share of the balance-sheet total rises from 12.9% to 20.0%. Equity is lower and debt is higher.