A2
Annual accounts 2025
micro format, filed on 22-07-2026, 9 days before the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €390,000. Estimated: probably between €330,000 and €690,000.
Balance sheet
balance sheet total €11.4m on 31-12-2025in €m
in €m
Position in the sector
52.1%
Higher than 47% of 39,368 companies in 2025.
1.33
Higher than 35% of 38,051 companies in 2025.
37.3%
Higher than 78% of 38,523 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff
Staff costs divided by the average number of full-time equivalents.
Blue and white collar
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
11.4m | 7.5m | 7.4m | 7.4m | 4.7m | 4.2m | 4.0m | 4.2m | 4.1m | 2.1m | 2.1m | 1.6m | 1.7m | 1.7m | 2.0m | 367,451 | 13,004 | |
21/28 |
7.0m | 7.2m | 6.9m | 6.9m | 3.8m | 3.3m | 3.7m | 3.1m | 3.7m | 2.0m | 2.0m | 1.6m | 1.7m | 1.7m | 1.5m | 99,182 | 1,965 | |
22/27 |
3.0m | 3.0m | 3.0m | 3.0m | 140,352 | 149,910 | 810,864 | 836,700 | 2.1m | 2.0m | 2.0m | 1.6m | 1.7m | 1.7m | 1.4m | 99,182 | 1,965 | |
22 |
3.0m | 3.0m | 3.0m | 3.0m | 129,594 | 135,575 | 794,059 | 815,204 | 2.1m | 2.0m | 2.0m | 1.6m | 1.6m | 1.6m | 1.3m | - | - | |
23 |
- | - | - | 229 | 1,602 | 2,976 | 248 | 495 | - | - | - | - | - | - | 653 | 1,936 | 1,469 | |
24 |
1,558 | 2,548 | 4,750 | 6,953 | 9,156 | 11,359 | 16,558 | 21,000 | 2,000 | 7,750 | 7,750 | 9,700 | 34,371 | 59,141 | 83,944 | 97,245 | 496 | |
26 |
- | - | - | - | - | - | - | - | - | - | - | 1,539 | 2,601 | 3,662 | 2,334 | - | - | |
28 |
4.0m | 4.2m | 4.0m | 3.9m | 3.7m | 3.2m | 2.9m | 2.2m | 1.6m | 60,000 | - | - | - | 160 | 50,160 | - | - | |
29/58 |
4.3m | 339,376 | 434,357 | 528,651 | 853,372 | 892,995 | 281,557 | 1.1m | 411,569 | 38,142 | 70,291 | 6,872 | 9,749 | 35,540 | 566,667 | 268,269 | 11,040 | |
29 |
- | - | - | - | 35,430 | 53,144 | 70,859 | 413,260 | - | - | - | - | - | - | - | - | - | |
291 |
- | - | - | - | 35,430 | 53,144 | 70,859 | 413,260 | - | - | - | - | - | - | - | - | - | |
40/41 |
10,000 | 129,450 | 10,000 | 151,740 | 78,720 | 140,449 | 78,177 | 168,402 | 206,615 | 33,983 | 3,674 | 5,430 | 5,175 | 34,614 | 51,126 | 57,770 | 10,061 | |
40 |
10,000 | 129,450 | 10,000 | 134,025 | 78,650 | 113,650 | 2,173 | 90,312 | 187,925 | 32,000 | - | - | - | - | 44,616 | 56,540 | 9,995 | |
41 |
- | - | - | 17,715 | 70 | 26,799 | 76,004 | 78,090 | 18,689 | 1,983 | 3,674 | 5,430 | 5,175 | 34,614 | 6,510 | 1,230 | 66 | |
50/53 |
60,000 | 60,000 | 136,334 | 136,334 | 60,000 | 554,087 | 60,000 | 60,000 | 60,000 | - | - | - | - | - | 21,750 | - | - | |
54/58 |
4.3m | 149,926 | 288,023 | 240,577 | 679,223 | 145,314 | 37,341 | 472,527 | 144,954 | 4,159 | 66,617 | 1,442 | 4,574 | 926 | 493,790 | 210,500 | 978 | |
490/1 |
- | - | - | - | - | - | 35,179 | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
11.4m | 7.5m | 7.4m | 7.4m | 4.7m | 4.2m | 4.0m | 4.2m | 4.1m | 2.1m | 2.1m | 1.6m | 1.7m | 1.7m | 2.0m | 367,451 | 13,004 | |
10/15 |
5.9m | 1.7m | 1.8m | 1.8m | -1.0m | -1.2m | -1.5m | -1.6m | 131,607 | -53,760 | -89,313 | -100,217 | -70,122 | -68,997 | 14,995 | 13,143 | 10,679 | |
10/11 |
2.9m | 2.9m | 2.9m | 2.9m | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 12,400 | 12,400 | |
13 |
- | - | - | - | 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 | |
130/1 |
- | - | - | - | 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 | |
1311 |
- | - | - | - | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
14 |
3.1m | -1.2m | -1.1m | -1.1m | -1.0m | -1.2m | -1.5m | -1.6m | 117,347 | -68,020 | -103,573 | -114,477 | -84,382 | -83,257 | 735 | 5,083 | 2,619 | |
16 |
2.2m | 4.2m | 4.2m | 4.2m | 4.3m | 4.3m | 4.3m | 4.3m | 2.1m | 2.1m | - | - | - | - | - | - | - | |
160/5 |
2.2m | 4.2m | 4.2m | 4.2m | 4.3m | 4.3m | 4.3m | 4.3m | 2.1m | 2.1m | - | - | - | - | - | - | - | |
164/5 |
2.2m | 4.2m | 4.2m | 4.2m | 4.3m | 4.3m | 4.3m | 4.3m | 2.1m | 2.1m | - | - | - | - | - | - | - | |
17/49 |
3.3m | 1.7m | 1.4m | 1.4m | 1.4m | 1.1m | 1.2m | 1.5m | 1.9m | 26,294 | 2.1m | 1.7m | 1.8m | 1.8m | 2.0m | 354,308 | 2,325 | |
17 |
1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | - | - | - | - | - | - | - | - | - | |
178/9 |
1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | 1,120 | - | - | - | - | - | - | - | - | - | |
42/48 |
3.3m | 1.7m | 1.4m | 1.4m | 1.4m | 1.1m | 1.2m | 1.4m | 1.9m | 26,294 | 2.1m | 1.7m | 1.8m | 1.8m | 2.0m | 353,533 | 2,325 | |
43 |
2.5m | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 1.1m | 500,000 | 1.2m | - | - | - | - | 1.8m | 1.4m | - | - | |
430/8 |
- | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 1.1m | 500,000 | 1.2m | - | - | - | - | 1.8m | 1.4m | - | - | |
439 |
2.5m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
6,268 | 4,361 | 991 | 2,316 | 7,885 | 7,675 | 12,625 | 24,687 | 6,076 | 16,606 | 1,384 | - | 5,200 | - | 1,495 | 2,921 | - | |
440/4 |
6,268 | 4,361 | 991 | 2,316 | 7,885 | 7,675 | 12,625 | 24,687 | 6,076 | 16,606 | 1,384 | - | 5,200 | - | 1,495 | 2,921 | - | |
45 |
469,168 | 14,268 | 25,741 | 18,632 | 8,116 | 21,184 | 34,967 | 87,847 | 85,376 | 2,143 | 40,073 | 915 | 1,100 | 567 | 281,153 | 132,064 | 2,325 | |
450/3 |
469,168 | 14,268 | 25,741 | 18,632 | 8,116 | 21,184 | 29,279 | 83,258 | 85,376 | 2,143 | 40,073 | 915 | 1,100 | 567 | 281,153 | 132,064 | 2,325 | |
454/9 |
- | - | - | - | - | - | 5,688 | 4,590 | - | - | - | - | - | - | - | - | - | |
47/48 |
294,754 | 1.1m | 836,315 | 859,687 | 887,288 | 572,717 | 7,270 | 835,651 | 629,030 | 7,545 | 2.1m | 1.7m | 1.7m | 53,478 | 371,317 | 218,547 | - | |
492/3 |
- | - | - | - | - | - | - | 4,851 | - | - | - | - | - | 775 | - | 775 | - | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | 31,665 | - | - | - | - | - | - | |
9900 |
273,581 | 200,195 | 248,867 | 286,838 | 248,410 | 542,227 | 437,207 | 641,050 | 510,089 | 212,525 | 137,103 | 10,447 | 40,052 | 36,725 | 617,981 | 394,110 | 8,467 | |
62 |
- | - | - | - | - | -4,843 | 38,596 | 36,380 | 19,291 | - | - | - | - | 23,743 | 11,468 | - | - | |
630 |
6,971 | 8,184 | 8,413 | 9,557 | 9,557 | 8,586 | 29,803 | 178,662 | 44,985 | 22,054 | 24,004 | 36,287 | 36,386 | 37,073 | 160,972 | 24,345 | 1,214 | |
631/4 |
- | - | - | - | - | - | -3,573 | - | - | - | - | - | - | - | - | - | - | |
640/8 |
5,269 | 5,206 | 21,370 | 4,927 | 14,711 | 6,824 | 30,364 | 21,727 | 7,894 | 6,354 | 130,960 | 3,257 | 3,328 | 2,964 | 5,629 | 7,671 | 437 | |
66A |
- | - | - | - | - | - | - | 1.6m | - | - | 1,539 | - | - | - | - | - | - | |
9901 |
261,341 | 186,804 | 219,084 | 272,353 | 224,142 | 531,660 | 342,017 | 404,280 | 437,919 | 184,117 | -17,861 | -29,098 | 338 | -27,054 | 439,911 | 362,094 | 6,816 | |
75/76B |
6.3m | 22,941 | 113,625 | 14,454 | 309,135 | 166,889 | 128,857 | 5 | - | 27 | 1 | 13 | 116 | 3,084 | 2,050 | 21 | 40 | |
75 |
6.3m | 22,941 | 113,625 | 14,454 | 309,135 | 166,889 | 128,857 | 5 | - | 27 | 1 | 13 | 116 | 3,084 | 2,050 | 21 | 40 | |
65/66B |
858,553 | 331,020 | 320,731 | 309,376 | 307,820 | 308,661 | 312,837 | 2.1m | 149,319 | 146,449 | 91 | 92 | 589 | 58,961 | 18,715 | 148 | 46 | |
65 |
858,553 | 331,020 | 320,731 | 309,376 | 307,820 | 308,661 | 312,837 | 498,388 | 149,319 | 146,449 | 91 | 92 | 589 | 58,961 | 18,715 | 148 | 46 | |
66B |
- | - | - | - | - | - | - | 1.6m | - | - | - | - | - | - | - | - | - | |
9903 |
5.7m | -121,275 | 11,978 | -22,569 | 225,456 | 389,887 | 158,037 | -1.7m | 288,600 | 37,696 | 12,174 | -29,177 | -135 | -82,931 | 423,246 | 361,967 | 6,810 | |
67/77 |
1.5m | 2,876 | 15,665 | 9,453 | 60,485 | 103,201 | 37,321 | 2,756 | 103,233 | 2,143 | 1,270 | 918 | 990 | 1,061 | 151,595 | 129,503 | 2,331 | |
9904 |
4.2m | -124,151 | -3,687 | -32,022 | 164,972 | 286,687 | 120,716 | -1.7m | 185,367 | 35,553 | 10,904 | -30,095 | -1,125 | -83,992 | 271,651 | 232,464 | 4,479 | |
9905 |
4.2m | -124,151 | -3,687 | -32,022 | 164,972 | 286,687 | 120,716 | -1.7m | 185,367 | 35,553 | 10,904 | -30,095 | -1,125 | -83,992 | 271,651 | 232,464 | 4,479 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
3.1m | -1.2m | -1.1m | -1.1m | -1.0m | -1.2m | -1.5m | -1.6m | 117,347 | -68,020 | -103,573 | -114,477 | -84,382 | -83,257 | 276,735 | 235,083 | 4,479 | |
14P |
-1.2m | -1.1m | -1.1m | -1.0m | -1.2m | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 276,000 | 230,000 | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 276,000 | 230,000 | - | |
| Social balance sheet | ||||||||||||||||||
9087 |
- | - | - | - | - | - | 1.4 | 1.4 | 0.9 | - | - | - | - | 1 | 0.4 | - | - | |
Hours worked1013 |
- | - | - | - | - | - | 2,087 | 2,304 | 1,547 | - | - | - | - | 1,731 | 794 | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 8 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 22-07-2026.
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 | 22-07-2026 | 2026-00316089 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00206538 | |
| 31-12-2023 | micro format | 01-10-2024 | 2024-00484030 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00151323 | |
| 31-12-2021 | abbreviated format | 31-05-2022 | 2022-20038114 | |
| 31-12-2020 | abbreviated format | 31-05-2021 | 2021-15800043 | |
| 31-12-2019 | abbreviated format | 04-09-2020 | 2020-50500543 | |
| 31-12-2018 | abbreviated format | 23-08-2019 | 2019-49000340 | |
| 31-12-2017 | abbreviated format | 05-07-2018 | 2018-28400071 | |
| 31-12-2016 | abbreviated format | 11-07-2017 | 2017-29200274 | |
| 31-12-2015 | abbreviated format | 22-06-2016 | 2016-20400039 | |
| 31-12-2014 | abbreviated format | 09-07-2015 | 2015-29100398 | |
| 31-12-2013 | abbreviated format | 30-06-2014 | 2014-22800284 | |
| 31-12-2012 | abbreviated format | 28-06-2013 | 2013-22600156 | |
| 31-12-2011 | abbreviated format | 06-07-2012 | 2012-26100098 | |
| 31-12-2010 | abbreviated format | 26-07-2011 | 2011-32200538 | |
| 31-12-2009 | abbreviated format | 15-07-2010 | 2010-30100422 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 268,312 | 194,988 | 227,497 | 281,910 | 233,699 | 540,246 | 371,820 | 582,942 | 482,904 | 206,171 | 6,143 | 7,189 | 36,724 | 10,018 | 600,884 | 386,439 | 8,031 | ||
| 4.2m | -115,967 | 4,727 | -22,465 | 174,529 | 295,273 | 150,519 | -1.5m | 230,352 | 57,607 | 34,908 | 6,192 | 35,261 | -46,919 | 432,624 | 256,809 | 5,694 | ||
| 417,627 | 251,108 | 45,849 | 3.1m | 494,816 | 250,628 | 700,712 | 3.1m | 1.8m | 60,000 | 344,968 | 0 | -160 | 319,036 | 1.5m | 121,562 | 3,179 | ||
| 4.1m | -138,097 | 47,447 | -438,646 | 533,908 | 107,973 | -435,186 | 327,573 | 140,795 | -62,458 | 65,175 | -3,132 | 3,648 | -492,864 | 283,291 | 209,521 | - | ||
| 1.1m | -1.3m | -928,690 | -851,984 | -549,916 | -208,581 | -903,305 | -333,997 | -1.5m | 11,848 | -2.1m | -1.7m | -1.7m | -1.8m | -1.5m | -85,263 | 8,715 | ||
| 52.1% | 22.3% | 24.5% | 24.3% | -21.6% | -27.9% | -36.3% | -37.8% | 3.2% | -2.6% | -4.3% | -6.1% | -4.2% | -3.9% | 0.7% | 3.6% | 82.1% | ||
| 1.33 | 0.20 | 0.32 | 0.38 | 0.61 | 0.81 | 0.24 | 0.77 | 0.22 | 1.45 | 0.03 | 0.00 | 0.01 | 0.02 | 0.28 | 0.76 | 4.75 | ||
| 0.55 | 0.99 | 0.76 | 0.76 | - | - | - | - | 14.46 | - | - | - | - | - | - | 26.96 | 0.22 | ||
| 71.6% | -7.4% | -0.2% | -1.8% | - | - | - | - | 140.8% | - | - | - | - | - | - | - | 41.9% | ||
| 37.3% | -1.7% | -0.1% | -0.4% | 3.5% | 6.8% | 3.0% | -40.9% | 4.5% | 1.7% | 0.5% | -1.8% | -0.1% | -4.8% | 13.3% | 63.3% | 34.4% | ||
| 0.31 | 0.59 | 0.71 | 0.91 | 0.76 | - | - | - | - | - | - | - | - | - | - | - | - |
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 | €58,200 | - | - | €2.8m | - |
| Financial fixed assets | €359,427 | €251,108 | €45,849 | €261,247 | €494,816 |
| €6,971 | €8,184 | €8,413 | €9,557 | €9,557 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on A2
The operating result for 2025 is 40% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 22.2% to 28.7%. Equity and debt are higher.
- 2022 Total assets +59% on 2021. Capital increase of €2,840,000 (Official Gazette 23-12-2022).