ADMIN START
Annual accounts 2025
micro format, filed on 30-08-2026, 30 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €92,000 and €160,000.
Balance sheet
balance sheet total €127,265 on 31-12-2025in euro
in euro
Position in the sector
55.3%
Higher than 54% of 9,696 companies in 2025.
1.73
Higher than 47% of 9,314 companies in 2025.
30.4%
Higher than 75% of 9,438 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
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 |
127,265 | 97,235 | 81,865 | 61,564 | |
21/28 |
28,817 | 7,174 | 150 | 150 | |
22/27 |
28,667 | 7,024 | - | - | |
24 |
28,667 | 7,024 | - | - | |
28 |
150 | 150 | 150 | 150 | |
29/58 |
98,448 | 90,062 | 81,715 | 61,414 | |
40/41 |
16,940 | 6,050 | 6,050 | - | |
40 |
16,940 | 6,050 | 6,050 | - | |
54/58 |
81,508 | 84,012 | 75,665 | 61,414 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
127,265 | 97,235 | 81,865 | 61,564 | |
10/15 |
70,413 | 31,684 | 72,335 | 51,674 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
14 |
67,413 | 28,684 | 69,335 | 48,674 | |
17/49 |
56,852 | 65,551 | 9,530 | 9,890 | |
42/48 |
56,852 | 65,551 | 9,530 | 9,890 | |
44 |
5,290 | 2,023 | 344 | 3,639 | |
440/4 |
5,290 | 2,023 | 344 | 3,639 | |
45 |
2,058 | 13,089 | 7,241 | 6,240 | |
450/3 |
2,058 | 13,089 | 2,986 | 3,513 | |
454/9 |
- | - | 4,254 | 2,727 | |
47/48 |
49,504 | 50,438 | 1,945 | 11 | |
| Income statement | |||||
9900 |
55,709 | 39,876 | 53,394 | 62,972 | |
62 |
- | - | 23,529 | 13,105 | |
630 |
6,207 | 1,676 | - | 910 | |
640/8 |
920 | 689 | 64 | 283 | |
9901 |
48,583 | 37,510 | 29,801 | 48,674 | |
65/66B |
357 | 153 | 141 | - | |
65 |
357 | 153 | 141 | - | |
9903 |
48,226 | 37,357 | 29,661 | 48,674 | |
67/77 |
9,498 | 19,185 | 9,000 | - | |
9904 |
38,728 | 18,173 | 20,661 | 48,674 | |
9905 |
38,728 | 18,173 | 20,661 | 48,674 | |
| Appropriation of the result | |||||
9906 |
67,413 | 87,508 | 69,335 | 48,674 | |
14P |
28,684 | 69,335 | 48,674 | - | |
694/7 |
- | 58,824 | - | - | |
694 |
- | 58,824 | - | - | |
| Social balance sheet | |||||
9087 |
- | - | 1 | 0.6 | |
Hours worked1013 |
- | - | 1,024 | 636 | |
| Document | |||||
The notes to these accounts have 6 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 30-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 30 days after the deadline. Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00454478.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 54,790 | 39,187 | - | 49,584 | ||
| 44,935 | 19,849 | - | 49,584 | ||
| 27,850 | 8,700 | - | 150 | ||
| -2,503 | 8,347 | 14,251 | - | ||
| 41,596 | 24,511 | 72,185 | 51,524 | ||
| 55.3% | 32.6% | 88.4% | 83.9% | ||
| 1.73 | 1.37 | 8.57 | 6.21 | ||
| 0.81 | 2.07 | 0.13 | 0.19 | ||
| 55.0% | 57.4% | 28.6% | 94.2% | ||
| 30.4% | 18.7% | 25.2% | 79.1% | ||
| over 100 | 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 | 31-12-2023 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | - | 1 |
| part-time | - | 1 |
| in full-time equivalents | - | 0.6 |
| 0.6 | 0.4 | |
| On a permanent contract | - | 1 |
| Joined | 0 | - |
| Left | 1 | - |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €27,850 | €8,700 | - | - |
| Financial fixed assets | - | - | - | €150 |
| €6,207 | €1,676 | - | €910 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on ADMIN START
The operating result for 2025 is 30% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 67.4% to 44.7%. Equity is higher and debt is lower.