ALPHA WORKS
InactiveInactive; last annual accounts for fiscal year 2025.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 05-01-2026, 115 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
115 d early
2024
37 d early
2023
41 d early
2022
23 d early
2021
25 d early
2020
35 d early
2019
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 45 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 24 March (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.8m▲ 56.3%
2024 · €1.1m
Total assets
€2.3m▼ 15.7%
2024 · €2.7m
Net result
€738,658▼ 16.4%
2024 · €883,818
Working capital
€1.8m▲ 198%
2024 · €596,358
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€691,032▲ 39.1%€1.1m▲ 60.0%€876,963▼ 20.7%€895,076▲ 2.1%€1.0m▲ 15.9%
Net result€641,476▲ 81.5%€957,538▲ 49.3%€851,446▼ 11.1%€883,818▲ 3.8%€738,658▼ 16.4%
Equity€515,932▲ 37.8%€973,469▲ 88.7%€1.1m▲ 13.0%€1.1m▲ 3.1%€1.8m▲ 56.3%
Total assets€1.2m▲ 122%€2.6m▲ 113%€2.9m▲ 9.1%€2.7m▼ 6.2%€2.3m▼ 15.7%
Debt€724,459▲ 295%€1.7m▲ 130%€1.8m▲ 6.9%€1.6m▼ 11.9%€503,947▼ 67.8%
Working capital€451,582▲ 44.3%€860,408▲ 90.5%€688,033▼ 20.0%€596,358▼ 13.3%€1.8m▲ 198%
Staff (FTE)5.3=6.2▲ 17.0%6.2=5.2▼ 16.1%1.4▼ 73.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 16% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €2.3m
Equity
€1.8m ▲ 56.3%
Debt
€503,947 ▼ 67.8%
Debt's share of the balance-sheet total falls from 58.0% to 22.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.0m▲
2024 · €961,049
Cash flow
€738,658▼
2024 · €949,790
Current ratio
4.54▲
2024 · 1.55
Debt to equity
0.28▼
2024 · 1.38
ROE
41.7%▼
2024 · 78.0%
ROA
32.4%▼
2024 · 32.7%
Interest coverage
127.08▼
2024 · 128.39
Debt ≤ 1 year
€501,602▼
2024 · €1.1m
Debt > 1 year
€0▼
2024 · €479,656
Income taxes
€299,579▲
2024 · €14,899
Staff costs
€111,898▼
2024 · €301,738
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €13,888 | €0 | €562,396 | - |
| Remuneration, social security and pensions62 | €259,860 | €328,025 | €371,335 | €301,738 | €111,898 | ▼ 62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,313 | €42,405 | €61,560 | €65,972 | €0 | ▼ 100% |
| Other operating charges640/8 | €4,622 | €42,627 | €5,705 | €11,445 | €9,805 | ▼ 14.3% |
| Non-recurring operating charges66A | - | - | €9,074 | €0 | €27,066 | - |
| Gross operating margin9900 | €998,827 | €1.5m | €1.3m | €1.3m | €1.2m | ▼ 6.9% |
| Operating profit (loss)9901 | €691,032 | €1.1m | €876,963 | €895,076 | €1.0m | ▲ 15.9% |
| Financial income75/76B | €1,531 | €519 | €9,103 | €11,126 | €9,224 | ▼ 17.1% |
| Recurring financial income75 | €1,531 | €519 | €9,103 | €11,126 | €9,224 | ▼ 17.1% |
| Financial charges65/66B | €2,987 | €8,908 | €8,384 | €7,486 | €8,161 | ▲ 9.0% |
| Recurring financial charges65 | €2,987 | €8,908 | €8,384 | €7,486 | €8,161 | ▲ 9.0% |
| Profit (loss) for the period before taxes9903 | €689,577 | €1.1m | €877,682 | €898,717 | €1.0m | ▲ 15.5% |
| Income taxes67/77 | €48,101 | €139,395 | €26,237 | €14,899 | €299,579 | ▲ 1,911% |
| Profit (loss) for the period9904 | €641,476 | €957,538 | €851,446 | €883,818 | €738,658 | ▼ 16.4% |
| Profit (loss) for the period to be appropriated9905 | €641,476 | €957,538 | €851,446 | €883,818 | €738,658 | ▼ 16.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €2.6m | €2.9m | €2.7m | €2.3m | ▼ 15.7% |
| Fixed assets21/28 | €89,590 | €713,748 | €965,141 | €1.0m | €0 | ▼ 100% |
| Intangible fixed assets21 | - | €2,359 | €1,881 | €1,403 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €89,590 | €711,389 | €963,260 | €1.0m | €0 | ▼ 100% |
| Land and buildings22 | - | €630,157 | €845,449 | €878,379 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €48,351 | €66,187 | €78,250 | €58,938 | €0 | ▼ 100% |
| Furniture and vehicles24 | €25,563 | €2,898 | €38,994 | €79,035 | €0 | ▼ 100% |
| Other tangible fixed assets26 | €15,675 | €12,147 | €568 | €0 | - | - |
| Current assets29/58 | €1.2m | €1.9m | €1.9m | €1.7m | €2.3m | ▲ 35.3% |
| Stocks and contracts in progress3 | €46,219 | €155,663 | €34,518 | €13,555 | €0 | ▼ 100% |
| Stocks30/36 | €28,770 | €29,079 | €34,518 | €13,555 | €0 | ▼ 100% |
| Contracts in progress37 | €17,449 | €126,584 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €140,659 | €391,020 | €369,593 | €314,639 | €149,709 | ▼ 52.4% |
| Trade receivables40 | €85,401 | €374,642 | €282,348 | €186,899 | €105,709 | ▼ 43.4% |
| Other amounts receivable41 | €55,258 | €16,377 | €87,244 | €127,739 | €44,000 | ▼ 65.6% |
| Cash at bank and in hand54/58 | €958,366 | €1.4m | €1.5m | €1.3m | €2.1m | ▲ 58.7% |
| Deferred charges and accrued income490/1 | €5,558 | €6,948 | €11,813 | €17,770 | €6,498 | ▼ 63.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €2.6m | €2.9m | €2.7m | €2.3m | ▼ 15.7% |
| Equity10/15 | €515,932 | €973,469 | €1.1m | €1.1m | €1.8m | ▲ 56.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €497,332 | €954,869 | €1.1m | €1.1m | €1.8m | ▲ 57.3% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €495,472 | €953,009 | €1.1m | €1.1m | €1.8m | ▲ 57.3% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €724,459 | €1.7m | €1.8m | €1.6m | €503,947 | ▼ 67.8% |
| Amounts payable after more than one year17 | €25,158 | €600,037 | €552,971 | €479,656 | €0 | ▼ 100% |
| Financial debts170/4 | €25,158 | €600,037 | €552,971 | €479,656 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €699,219 | €1.1m | €1.2m | €1.1m | €501,602 | ▼ 53.8% |
| Current portion of amounts payable after more than one year42 | €29,761 | €75,121 | €80,088 | €73,314 | €0 | ▼ 100% |
| Financial debts43 | €8,333 | €0 | - | - | - | - |
| Credit institutions430/8 | €8,333 | €0 | - | - | - | - |
| Trade debts44 | €71,328 | €319,562 | €258,618 | €141,746 | €79,114 | ▼ 44.2% |
| Suppliers440/4 | €71,328 | €319,562 | €258,618 | €141,746 | €79,114 | ▼ 44.2% |
| Advances received on contracts in progress46 | €61,500 | €111,552 | €120,360 | €0 | - | - |
| Taxes, remuneration and social security45 | €12,202 | €39,066 | €21,558 | €19,361 | €321,231 | ▲ 1,559% |
| Taxes450/3 | €108 | €17,992 | €0 | €1,650 | €319,981 | ▲ 19,295% |
| Remuneration and social security454/9 | €12,093 | €21,074 | €21,558 | €17,711 | €1,250 | ▼ 92.9% |
| Other amounts payable47/48 | €516,095 | €517,922 | €744,209 | €851,379 | €101,258 | ▼ 88.1% |
| Accrued charges and deferred income492/3 | €82 | €649 | €288 | €724 | €2,345 | ▲ 224% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €641,476 | €957,538 | €851,446 | €883,818 | €738,658 | ▼ 16.4% |
| + Depreciation and write-downs630 | €43,313 | €42,405 | €61,560 | €65,972 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €684,789 | €999,942 | €913,006 | €949,790 | €738,658 | ▼ 22.2% |
| Investment in fixed assets (approximation) | - | -€666,563 | -€312,953 | -€118,587 | €1.0m | ▲ 958% |
| Change in cash | - | €411,633 | €126,942 | -€160,746 | €783,937 | ▲ 588% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Liquidity triplescurrent ratio 4.54
Current ratio from 1.55 to 4.54; short-term debt falls from €1.1m to €501,602.
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €1mEq €1.1m ▲13%
6 profitable years in a row build equity to €1.1m.
07-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €957,538 ▲49.3%
Operating result €1.1m, net result €957,538, both a record.
05-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €500,000Eq €515,932 ▲37.8%
4 profitable years in a row build equity to €515,932.
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Liquidity doublescurrent ratio 2.75
Current ratio from 1.27 to 2.75; short-term debt falls from €452,012 to €262,139.
Show earlier events
30-09
Financial
Equity above €500,000Eq €533,077 ▲183%
2 profitable years in a row build equity to €533,077.
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 ownerOwners 1
-
33.33%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 211 EUR awarded · 168 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 168 EUR |
| 2022 | 1 | 211 EUR | 0 EUR |
Recognitions · licences · registrations
Dual-learning approval
3 endedMetselaar (so)
Metselaar (vwo)
Ruwbouw duaal (so)