A2P
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-01-2026 PDF all 12 filings
Turnover
≈ €110,000
Estimated: probably between €65,000 and €150,000
Total assets
€556,235▼ 2.6%
2024 · €571,229
Net result
€141,453▲ 115%
2024 · €65,671
Working capital
-€104,145▲ 56.9%
2024 · -€241,857
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€21,141
2025
20192025
Net result
€141,453
▲ 115%
2025
highest quarter of the sector
20192025
Equity
€312,539
▲ 82.7%
2025
highest quarter of the sector
20192025
Total assets
€556,235
▼ 2.6%
2025
highest quarter of the sector
20192025
Debt
€243,697
▼ 39.1%
2025
20192025
Working capital
-€104,145
▲ 56.9%
2025
lowest quarter of the sector
20192025
Solvency
56.2%
▲ 26.2pp
2025
middle half of the sector
20192025
Current ratio
0.08
▲ 0.05
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
25.4%
▲ 13.9pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€23,431-€45,502-€7,328€3,217-€20,272-€22,813▼ 12.5%€21,141
Net result€6,328-€72,708above the sector's middle half▲ 11×-€183,067below the sector's middle half€21,172within the sector's middle half€18,971within the sector's middle half▼ 10.4%€65,671above the sector's middle half▲ 246%€141,453above the sector's middle half▲ 115%
Equity€502,996-€442,138above the sector's middle half▼ 12.1%€259,072above the sector's middle half▼ 41.4%€280,244above the sector's middle half▲ 8.2%€299,215above the sector's middle half▲ 6.8%€171,086within the sector's middle half▼ 42.8%€312,539above the sector's middle half▲ 82.7%
Total assets€665,921-€646,441above the sector's middle half▼ 2.9%€439,585within the sector's middle half▼ 32.0%€450,401within the sector's middle half▲ 2.5%€478,898within the sector's middle half▲ 6.3%€571,229above the sector's middle half▲ 19.3%€556,235above the sector's middle half▼ 2.6%
Debt€162,924-€204,303▲ 25.4%€180,513▼ 11.6%€170,157▼ 5.7%€179,683▲ 5.6%€400,144▲ 123%€243,697▼ 39.1%
Working capital-€3,072--€10,290below the sector's middle half▼ 235%€5,403within the sector's middle half€14,458within the sector's middle half▲ 168%€24,264within the sector's middle half▲ 67.8%-€241,857below the sector's middle half-€104,145below the sector's middle half▲ 56.9%
Solvency75.5%-68.4%within the sector's middle half▼ 7.1pp58.9%within the sector's middle half▼ 9.5pp62.2%within the sector's middle half▲ 3.3pp62.5%within the sector's middle half▲ 0.3pp30.0%within the sector's middle half▼ 32.5pp56.2%within the sector's middle half▲ 26.2pp
Current ratio0.83-0.60below the sector's middle half▼ 0.231.40within the sector's middle half▲ 0.801.98within the sector's middle half▲ 0.581.67within the sector's middle half▼ 0.310.04below the sector's middle half▼ 1.640.08below the sector's middle half▲ 0.05
Return on assets (ROA)1.0%-11.2%within the sector's middle half▲ 10.3pp-41.6%below the sector's middle half▼ 52.9pp4.7%within the sector's middle half▲ 46.3pp4.0%within the sector's middle half▼ 0.7pp11.5%within the sector's middle half▲ 7.5pp25.4%within the sector's middle half▲ 13.9pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €21,141, after a loss of €22,813 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €556,235
Fixed assets
€546,798 ▼ 2.7%
Current assets
€9,437 ▲ 4.3%
Equity and liabilities €556,235
Equity
€312,539 ▲ 82.7%
Debt
€243,697 ▼ 39.1%
Debt's share of the balance-sheet total falls from 70.0% to 43.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35,447▲
2024 · -€8,698
Cash flow
€155,759▲
2024 · €79,785
Debt to equity
0.78▼
2024 · 2.34
ROE
45.3%▲
2024 · 38.4%
Interest coverage
6.52▲
2024 · -1.75
Debt ≤ 1 year
€113,582▼
2024 · €250,908
Debt > 1 year
€130,114▼
2024 · €149,236
Income taxes
€14,286▲
2024 · €6,665
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €9,270 | €8,131 | €25,800 | €707 |
| Financial fixed assets | - | - | €132,000 | - |
| Depreciation and write-downs of the year | €8,855 | €10,850 | €14,114 | €14,306 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €2,581 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,329 | €29,576 | €7,827 | €8,855 | €10,850 | €14,114 | €14,306 | ▲ 1.4% |
| Other operating charges640/8 | - | - | - | €979 | €1,052 | €1,289 | €1,185 | ▼ 8.1% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €1,687 | - |
| Gross operating margin9900 | -€12,157 | €76,136 | €1,201 | €13,051 | -€8,370 | -€7,409 | €38,319 | - |
| Operating profit (loss)9901 | -€23,431 | €45,502 | -€7,328 | €3,217 | -€20,272 | -€22,813 | €21,141 | - |
| Financial income75/76B | - | - | - | €20,881 | €42,548 | €100,123 | €140,034 | ▲ 39.9% |
| Recurring financial income75 | €35,434 | €35,001 | €35,001 | €20,881 | €42,548 | €100,123 | €140,034 | ▲ 39.9% |
| Financial charges65/66B | - | - | - | €2,926 | €2,764 | €4,975 | €5,436 | ▲ 9.3% |
| Recurring financial charges65 | €5,674 | €7,795 | €210,740 | €2,926 | €2,764 | €4,975 | €5,436 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | €6,329 | €72,708 | -€183,067 | €21,172 | €19,513 | €72,336 | €155,739 | ▲ 115% |
| Income taxes67/77 | €0 | €0 | - | - | €542 | €6,665 | €14,286 | ▲ 114% |
| Profit (loss) for the period9904 | €6,328 | €72,708 | -€183,067 | €21,172 | €18,971 | €65,671 | €141,453 | ▲ 115% |
| Profit (loss) for the period to be appropriated9905 | €6,328 | €72,708 | -€183,067 | €21,172 | €18,971 | €65,671 | €141,453 | ▲ 115% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €665,921 | €646,441 | €439,585 | €450,401 | €478,898 | €571,229 | €556,235 | ▼ 2.6% |
| Fixed assets21/28 | €651,246 | €631,080 | €420,796 | €421,211 | €418,493 | €562,179 | €546,798 | ▼ 2.7% |
| Tangible fixed assets22/27 | €236,230 | €216,064 | €213,263 | €213,678 | €210,960 | €222,646 | €207,265 | ▼ 6.9% |
| Land and buildings22 | - | - | - | €202,943 | €195,801 | €188,660 | €180,092 | ▼ 4.5% |
| Plant, machinery and equipment23 | - | - | - | €4,035 | €2,549 | €1,063 | €612 | ▼ 42.4% |
| Furniture and vehicles24 | - | - | - | €6,700 | €8,485 | €28,799 | €22,436 | ▼ 22.1% |
| Other tangible fixed assets26 | - | - | - | - | €4,124 | €4,124 | €4,124 | = |
| Financial fixed assets28 | €415,016 | €415,016 | €207,533 | €207,533 | €207,533 | €339,533 | €339,533 | = |
| Current assets29/58 | €14,675 | €15,361 | €18,788 | €29,189 | €60,405 | €9,051 | €9,437 | ▲ 4.3% |
| Amounts receivable within one year40/41 | €10,996 | €11,162 | €15,263 | €26,103 | €55,871 | €1,422 | €3,139 | ▲ 121% |
| Trade receivables40 | - | - | - | €5,365 | €10,159 | €0 | €2,734 | - |
| Other amounts receivable41 | - | - | - | €20,738 | €45,712 | €1,422 | €405 | ▼ 71.5% |
| Cash at bank and in hand54/58 | €3,679 | €4,199 | €3,496 | €3,078 | €4,353 | €7,415 | €6,107 | ▼ 17.6% |
| Deferred charges and accrued income490/1 | - | - | - | €8 | €181 | €214 | €192 | ▼ 10.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €665,921 | €646,441 | €439,585 | €450,401 | €478,898 | €571,229 | €556,235 | ▼ 2.6% |
| Equity10/15 | €502,996 | €442,138 | €259,072 | €280,244 | €299,215 | €171,086 | €312,539 | ▲ 82.7% |
| Contributions10/11 | €427,366 | €0 | - | €293,800 | €293,800 | €100,000 | €100,000 | = |
| Reserves13 | €75,630 | €136,967 | €0 | - | €5,415 | €71,086 | €212,539 | ▲ 199% |
| Distributable reserves133 | - | - | - | - | €5,415 | €71,086 | €212,539 | ▲ 199% |
| Profit (loss) carried forward14 | - | - | -€34,728 | -€13,556 | €0 | - | - | - |
| Amounts payable17/49 | €162,924 | €204,303 | €180,513 | €170,157 | €179,683 | €400,144 | €243,697 | ▼ 39.1% |
| Amounts payable after more than one year17 | €145,177 | €178,652 | €167,128 | €155,426 | €143,542 | €149,236 | €130,114 | ▼ 12.8% |
| Financial debts170/4 | - | - | - | €155,426 | €143,542 | €149,236 | €130,114 | ▼ 12.8% |
| Amounts payable within one year42/48 | €17,747 | €25,651 | €13,385 | €14,731 | €36,141 | €250,908 | €113,582 | ▼ 54.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,703 | €11,884 | €18,632 | €19,122 | ▲ 2.6% |
| Financial debts43 | - | - | - | €1,183 | €1,183 | €1,183 | €1,183 | = |
| Credit institutions430/8 | - | - | - | €1,183 | €1,183 | €1,183 | €1,183 | = |
| Trade debts44 | €191 | €1,180 | €0 | €1,233 | €6,953 | €1,943 | €741 | ▼ 61.8% |
| Suppliers440/4 | - | - | - | €1,233 | €6,953 | €1,943 | €741 | ▼ 61.8% |
| Taxes, remuneration and social security45 | - | - | - | €613 | €1,121 | €7,711 | €14,673 | ▲ 90.3% |
| Taxes450/3 | - | - | - | €613 | €1,121 | €7,711 | €14,673 | ▲ 90.3% |
| Other amounts payable47/48 | - | - | - | - | €15,000 | €221,439 | €77,863 | ▼ 64.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,328 | €72,708 | -€183,067 | €21,172 | €18,971 | €65,671 | €141,453 | ▲ 115% |
| + Depreciation and write-downs630 | €9,329 | €29,576 | €7,827 | €8,855 | €10,850 | €14,114 | €14,306 | ▲ 1.4% |
| Operating cash flow (approximation) | €15,657 | €102,284 | -€175,240 | €30,027 | €29,821 | €79,785 | €155,759 | ▲ 95.2% |
| Investment in fixed assets (approximation) | - | -€9,410 | €202,457 | -€9,270 | -€8,131 | -€157,800 | €1,075 | - |
| Change in cash | - | €520 | -€703 | -€418 | €1,276 | €3,062 | -€1,309 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 27-01-2026 | 2026-00014718 | |
| 30-06-2024 | micro format | 17-01-2025 | 2025-00005971 | |
| 30-06-2023 | micro format | 17-01-2024 | 2024-00002535 | |
| 30-06-2022 | micro format | 04-01-2023 | 2023-20552248 | |
| 30-06-2021 | micro format | 02-02-2022 | 2022-04700201 | |
| 30-06-2020 | micro format | 12-01-2021 | 2021-00800369 | |
| 30-06-2019 | micro format | 09-12-2019 | 2019-75600114 | |
| 30-06-2018 | micro format | 04-12-2018 | 2018-73500573 | |
| 30-06-2017 | full format | 06-12-2017 | 2017-71200584 | |
| 30-06-2016 | full format | 04-01-2017 | 2017-00300532 |