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ANTICIMEX

Active
Public limited companyfounded 1968active for 58 yearsJaargetijdenlaan 100-102, 1050 Elsene, BelgiumKBO/BCE: BE 0402.272.064

Financials · financial year 2025, full format

Annual accounts 2025 filed on 27-07-2026 at the NBB all 49 filings

Turnover
€41.1m▲ 9.1%
2024 · €37.7m
EBIT margin
8.7%▲ 1.0pp
2024 · 7.7%
Net result
€1.6m▲ 104%
2024 · €777,122
Working capital
€6.1m▲ 34.8%
2024 · €4.5m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 23% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.

Turnover€41.1m 2025 Operating result€3.6m 2025 Net result€1.6m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€15.1m-€16.6m▲ 9.9%€25.3m▲ 52.1%€28.3m▲ 12.1%€31.8m▲ 12.2%€34.1m▲ 7.4%€37.7m▲ 10.3%€41.1m▲ 9.1%
Operating result€1.8m-€1.3m▼ 26.6%-€0.5m€0.4m€1.1m▲ 175%€1.5m▲ 34.0%€2.9m▲ 93.9%€3.6m▲ 23.2%
Net result€1.2m-€0.8m▼ 31.7%-€1.5mbelow the sector's middle half-€1.1mbelow the sector's middle half▲ 28.2%€0.07mwithin the sector's middle half-€0.4mbelow the sector's middle half€0.8mabove the sector's middle half€1.6mabove the sector's middle half▲ 104%
EBIT margin12.0%-8.0%▼ 4.0pp-2.1%▼ 10.1pp1.4%▲ 3.5pp3.5%▲ 2.1pp4.4%▲ 0.9pp7.7%▲ 3.3pp8.7%▲ 1.0pp
Equity€6.6m-€7.4m▲ 12.7%€5.9mabove the sector's middle half▼ 20.6%€4.8mabove the sector's middle half▼ 18.7%€4.9mabove the sector's middle half▲ 1.4%€4.5mabove the sector's middle half▼ 8.1%€5.2mabove the sector's middle half▲ 17.4%€6.8mabove the sector's middle half▲ 30.3%
Total assets€12.4m-€13.7m▲ 10.3%€50.1mabove the sector's middle half▲ 267%€45.5mabove the sector's middle half▼ 9.3%€41.9mabove the sector's middle half▼ 7.9%€38.5mabove the sector's middle half▼ 8.0%€35.4mabove the sector's middle half▼ 8.2%€32.8mabove the sector's middle half▼ 7.4%
Debt€5.8m-€6.2m▲ 7.2%€43.9m▲ 612%€40.4m▼ 8.1%€36.8m▼ 9.0%€33.8m▼ 8.1%€29.8m▼ 11.6%€25.5m▼ 14.6%
Working capital€4.9m-€4.7m▼ 2.4%€7.2mabove the sector's middle half▲ 50.9%€4.0mabove the sector's middle half▼ 44.2%€4.1mabove the sector's middle half▲ 2.0%€4.3mabove the sector's middle half▲ 5.2%€4.5mabove the sector's middle half▲ 5.8%€6.1mabove the sector's middle half▲ 34.8%
Solvency53.1%-54.3%▲ 1.1pp11.7%below the sector's middle half▼ 42.5pp10.5%below the sector's middle half▼ 1.2pp11.6%below the sector's middle half▲ 1.1pp11.6%below the sector's middle half=14.8%below the sector's middle half▲ 3.2pp20.8%within the sector's middle half▲ 6.0pp
Current ratio3.49-3.49=2.86above the sector's middle half▼ 0.631.94within the sector's middle half▼ 0.921.93within the sector's middle half▼ 0.011.84within the sector's middle half▼ 0.091.81within the sector's middle half▼ 0.031.93within the sector's middle half▲ 0.12
Return on assets (ROA)9.9%-6.1%▼ 3.8pp-3.1%below the sector's middle half▼ 9.2pp-2.4%below the sector's middle half▲ 0.6pp0.2%within the sector's middle half▲ 2.6pp-1.0%below the sector's middle half▼ 1.2pp2.2%within the sector's middle half▲ 3.2pp4.8%within the sector's middle half▲ 2.6pp
Staff (FTE)155.9-159.6▲ 2.4%223.1above the sector's middle half▲ 39.8%229.8above the sector's middle half▲ 3.0%246.4above the sector's middle half▲ 7.2%257.2above the sector's middle half▲ 4.4%275.8above the sector's middle half▲ 7.2%297above the sector's middle half▲ 7.7%
above within below The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.8m
Fixed assets €20.1m ▼ 20.4%
Current assets €12.7m ▲ 25.3%
Equity and liabilities €32.8m
Equity €6.8m ▲ 30.3%
Provisions €452,173 ▲ 60.2%
Debt €25.5m ▼ 14.6%
Debt's share of the balance-sheet total falls from 84.4% to 77.8%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€9.1m▲
2024 · €8.3m
Cash flow
€7.1m▲
2024 · €6.2m
Quick ratio
1.69▲
2024 · 1.56
Debt to equity
3.74▼
2024 · 5.70
ROE
23.2%▲
2024 · 14.8%
Interest coverage
9.77▲
2024 · 5.16
Debt ≤ 1 year
€6.6m▲
2024 · €5.6m
Debt > 1 year
€11.0m▼
2024 · €16.0m
Income taxes
€1.0m▲
2024 · €636,256
Customer credit
56 days▼
2024 · 59 days
Supplier credit
132 days▼
2024 · 180 days
Staff costs
€20.9m▲
2024 · €19.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date243262269292315
full-time215225233252268
part-time2837364047
in full-time equivalents236.2253.9261.3284306
Average over the year, in full-time equivalents229.8246.4257.2275.8297
On a permanent contract242261268290315
Joined3354455758
Left2735383435
Agency workers, average number17.415.49.87.19.4
Training hours12,42030,98018,94313,98416,578

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€1.1m€1.5m€1.0m€1.4m€1.7m
Intangible fixed assets€2.5m€272,954€233,017€91,814€163,870
Depreciation and write-downs of the year€5.4m€5.6m€5.5m€5.4m€5.6m

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees
Item20212022202320242025
Fee for the audit€28,750€31,695€33,550€38,000€41,730
Other work by the auditor----€4,000

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Subsidies and aid

Flemish government

2022 to 2025 · 10 entries · €234,874 awarded · €234,874 paid
Year Entries AwardedPaid
2025 2 €49,113€49,113
2024 2 €55,026€55,026
2023 3 €73,107€83,107
2022 3 €57,628€47,628
Schemes
4 entries · €215,332 · €215,332 paid · Departement Werk en Sociale Economie
2 entries · €10,000 · €10,000 paid · Departement Werk en Sociale Economie
4 entries · €9,542 · €9,542 paid · Departement Werk en Sociale Economie

Public contracts

15 awards · 2024 to 2026
Accord-cadre pluriannuel pour les prestations de traitement et de protection contre les animaux nuisibles dans les bâtiments de l’Université de Liège – Campus de Liège, d’Arlon et de Gembloux: Restaurants et Cafétérias universitaires des Campus de Liège (Sart Tilman et Centre-Ville)
buyer: Université de LiègeSewage, refuse, cleaning and environmental servicesawarded 14-09-2026€18,6243 tendersTED 708203-2026
Accord-cadre pluriannuel pour les prestations de traitement et de protection contre les animaux nuisibles dans les bâtiments de l’Université de Liège – Campus de Liège, d’Arlon et de Gembloux: Chaufferie centrale et réseau de chaleur (Feeder) sur le Campus de Liège (Sart Tilman)
buyer: Université de LiègeSewage, refuse, cleaning and environmental servicesawarded 14-09-2026€8,7602 tendersTED 708203-2026
la lutte contre les nuisibles dans les centres d’accueil gérés par Fedasil et l’Office des étrangers (OE): FED 2026 0054 - 1
buyer: FEDASIL_Federaal agentschap voor de opvang van asielzoekersSewage, refuse, cleaning and environmental servicesawarded 18-08-2026€3.1m2 tendersTED 576493-2026
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 1
buyer: Provincie West-VlaanderenSewage, refuse, cleaning and environmental servicesawarded 15-06-2026€60,5006 tendersTED 488512-2026
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 3
buyer: Provincie West-VlaanderenSewage, refuse, cleaning and environmental servicesawarded 15-06-2026€60,5007 tendersTED 488512-2026
Show 10 more contracts
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 5
buyer: Provincie West-VlaanderenSewage, refuse, cleaning and environmental servicesawarded 15-06-2026€102,8503 tendersTED 488512-2026
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 9
buyer: Provincie West-VlaanderenSewage, refuse, cleaning and environmental servicesawarded 15-06-2026€102,8504 tendersTED 488512-2026
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 10
buyer: Provincie West-VlaanderenSewage, refuse, cleaning and environmental servicesawarded 15-06-2026€102,8505 tendersTED 488512-2026
QMMO25-3621- Raamovereenkomst ongediertebestrijding voor de leden van de Associatie KU Leuven vzw, Centrum voor Levende Talen vzw, Z.org KU Leuven: QMMO25-3621 - 1
buyer: Associatie KU Leuven - Centrum voor Levende Talen - Z.org KU LeuvenSewage, refuse, cleaning and environmental servicesawarded 14-04-2026€28,8261 tenderTED 258608-2026
Groepsaankoop raamovereenkomst voor plaagdierenbestrijding: IOK_2509PLADI_MP - 1
buyer: Intercommunale Ontwikkelingsorganisatie voor de KempenSewage, refuse, cleaning and environmental servicesawarded 23-02-2026€1.2m2 tendersTED 142915-2026
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 1
buyer: VivaquaSewage, refuse, cleaning and environmental servicesawarded 18-11-2025€568,0001 tenderTED 810335-2025
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 2
buyer: VivaquaSewage, refuse, cleaning and environmental servicesawarded 18-11-2025€710,0001 tenderTED 810335-2025
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 3
buyer: VivaquaSewage, refuse, cleaning and environmental servicesawarded 18-11-2025€640,0001 tenderTED 810335-2025
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 4
buyer: VivaquaSewage, refuse, cleaning and environmental servicesawarded 18-11-2025€536,0002 tendersTED 810335-2025
ONGEDIERTEBEHEERSING EN -BESTRIJDING
buyer: KOOPKOEPEL VZWSewage, refuse, cleaning and environmental servicesawarded 10-10-2024€1.3m3 tendersTED 436571-2025

Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.

Comparable companies

These companies have the same main activity as ANTICIMEX: other building cleaning and industrial cleaning (NACE 81220). They are comparable in size and age: total assets between €21m and €64m, founded between 1967 and 1992.

CompanyFoundedTotal assetsEquityTurnoverNet resultFTEFinancial year
ANTICIMEX Elsene1968€32.8m€6.8m€41.1m€1.6m2972025
RENTOKIL Schelle1970€21.5m€2.9m€34.8m€6.5m217.62025
HYDRO CLEANING INTERNATIONAL Antwerpen1987€27.0m€2.4m€36.7m-€4.0m227.32025
JETTE CLEAN Jette1992€34.5m€26.3m€59.1m€4.0m553.42025
VICTOR PEETERS, OPENBARE EN INDUSTRIELE WERKEN Herentals1970€63.6m€20.4m€92.8m€2.2m474.42025
Vebego Cleaning & Services Antwerpen1974€21.7m€10.2m€60.8m€2.8m943.42024
PELSIS BELGIUM Bornem1967€29.8m€11.4m€35.7m-€0.5m67.32024

They were chosen from the 2,272 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 168 companies had the same profile as ANTICIMEX has now. Two years later, 1.2% had gone bankrupt and 98.2% were still going.

  • Large
  • 20 years or older
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.2% went bankrupt
0.6% stopped otherwise
98.2% was still going

That fits the bankruptcy probability of ANTICIMEX itself: 0.4% within 12 months.

Test of the method

The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 168 companies, not a prediction for ANTICIMEX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 88 lines

Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€35.4m€32.8m▼
Fixed assets21/28€25.3m€20.1m▼
Intangible fixed assets21€21.2m€17.2m▼
Tangible fixed assets22/27€2.5m€2.8m▲
Plant, machinery and equipment23€2.4m€2.6m▲
Furniture and vehicles24€0.07m€0.1m▲
Other tangible fixed assets26€0.1m€0.1m▲
Financial fixed assets28€1.5m€0.07m▼
Affiliated companies280/1€1.5m-
Participating interests280€1.5m-
Other financial fixed assets284/8€0.05m€0.07m▲
Amounts receivable and cash guarantees285/8€0.05m€0.07m▲
Current assets29/58€10.1m€12.7m▲
Stocks and contracts in progress3€1.4m€1.5m▲
Stocks30/36€1.4m€1.5m▲
Goods purchased for resale34€1.4m€1.5m▲
Amounts receivable within one year40/41€6.0m€6.3m▲
Trade receivables40€6.0m€6.3m▲
Other amounts receivable41€0.002m-
Current investments50/53-€0.1m
Other investments51/53-€0.1m
Cash at bank and in hand54/58€2.4m€4.5m▲
Deferred charges and accrued income490/1€0.2m€0.2m▼
Equity and liabilities
Total equity and liabilities10/49€35.4m€32.8m▼
Equity10/15€5.2m€6.8m▲
Contributions10/11€8.7m€8.7m=
Capital10€8.7m€8.7m=
Issued capital100€8.7m€8.7m=
Reserves13€0.3m€0.3m=
Non-distributable reserves130/1€0.2m€0.3m▲
Legal reserve130€0.2m€0.3m▲
Reserves not available under the articles1311€0.04m-
Tax-exempt reserves132€0.1m-
Profit (loss) carried forward14-€3.8m-€2.2m▲
Provisions and deferred taxes16€0.3m€0.5m▲
Provisions for liabilities and charges160/5€0.3m€0.5m▲
Other liabilities and charges164/5€0.3m€0.5m▲
Amounts payable17/49€29.8m€25.5m▼
Amounts payable after more than one year17€16.0m€11.0m▼
Financial debts170/4€16.0m€11.0m▼
Other loans174€16.0m€11.0m▼
Amounts payable within one year42/48€5.6m€6.6m▲
Trade debts44€1.5m€1.4m▼
Suppliers440/4€1.5m€1.4m▼
Taxes, remuneration and social security45€4.0m€5.2m▲
Taxes450/3€0.9m€1.7m▲
Remuneration and social security454/9€3.1m€3.5m▲
Other amounts payable47/48€0.003m-
Accrued charges and deferred income492/3€8.3m€7.9m▼
Income statement Code20242025
Operating income70/76A€38.4m€41.8m▲
Turnover70€37.7m€41.1m▲
Other operating income74€0.7m€0.7m▲
Non-recurring operating income76A€0.02m€0.004m▼
Operating charges60/66A€35.5m€38.3m▲
Goods for resale, raw materials and consumables60€3.1m€3.8m▲
Purchases600/8€3.3m€3.9m▲
Change in stocks: decrease (increase)609-€0.2m-€0.1m▲
Services and other goods61€7.1m€7.7m▲
Remuneration, social security and pensions62€19.5m€20.9m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5.4m€5.6m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.07m€0.08m▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€0.003m€0.2m▲
Other operating charges640/8€0.2m€0.06m▼
Non-recurring operating charges66A-€0.001m
Operating profit (loss)9901€2.9m€3.6m▲
Financial income75/76B€0.1m€0.3m▲
Recurring financial income75€0.1m€0.3m▲
Income from current assets751€0.03m€0.05m▲
Other financial income752/9€0.1m€0.2m▲
Financial charges65/66B€1.6m€1.2m▼
Recurring financial charges65€1.6m€0.9m▼
Debt charges650€1.6m€0.9m▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€0.001m€175▼
Other financial charges652/9€0.01m€0.01m▲
Non-recurring financial charges66B-€0.3m
Profit (loss) for the period before taxes9903€1.4m€2.6m▲
Income taxes67/77€0.6m€1.0m▲
Taxes670/3€0.6m€1.0m▲
Profit (loss) for the period9904€0.8m€1.6m▲
Transfer from tax-exempt reserves789-€0.1m
Profit (loss) for the period to be appropriated9905€0.8m€1.7m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€3.8m-€2.1m▲
Profit (loss) brought forward from the previous period14P-€4.6m-€3.8m▲
Transfer from equity791/2-€0.04m
From reserves792-€0.04m
Transfer to equity691/2-€0.2m
To the legal reserve6920-€0.2m
Social balance sheet
Average headcount (FTE)9087275.8297.0▲

The notes to these accounts have 76 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.

Line20182019202020212022202320242025Change
Operating income70/76A---€28.7m€32.2m€34.7m€38.4m€41.8m▲ 9.1%
Turnover70€15.1m€16.6m€25.3m€28.3m€31.8m€34.1m€37.7m€41.1m▲ 9.1%
Other operating income74---€0.3m€0.4m€0.6m€0.7m€0.7m▲ 8.4%
Non-recurring operating income76A---€0.008m€0.005m€0.001m€0.02m€0.004m▼ 71.9%
Operating charges60/66A---€28.3m€31.1m€33.2m€35.5m€38.3m▲ 7.9%
Goods for resale, raw materials and consumables60---€3.0m€3.2m€3.0m€3.1m€3.8m▲ 20.9%
Purchases600/8---€2.9m€3.3m€3.0m€3.3m€3.9m▲ 18.6%
Change in stocks: decrease (increase)609---€0.03m-€0.03m-€0.005m-€0.2m-€0.1m▲ 27.0%
Services and other goods61---€6.2m€6.7m€7.0m€7.1m€7.7m▲ 8.1%
Remuneration, social security and pensions62---€13.6m€15.4m€17.6m€19.5m€20.9m▲ 7.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.7m€1.0m€4.8m€5.4m€5.6m€5.5m€5.4m€5.6m▲ 2.4%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€0.1m€0.03m€0.05m€0.07m€0.08m▲ 17.0%
Provisions for liabilities and charges: additions (uses and reversals)635/8---€0.02m-€0.05m€0.009m€0.003m€0.2m▲ 60×
Other operating charges640/8---€0.1m€0.1m€0.09m€0.2m€0.06m▼ 70.6%
Non-recurring operating charges66A-------€0.001m-
Operating profit (loss)9901€1.8m€1.3m-€0.5m€0.4m€1.1m€1.5m€2.9m€3.6m▲ 23.2%
Financial income75/76B---€0.1m€0.7m€0.2m€0.1m€0.3m▲ 80.6%
Recurring financial income75€0.09m€0.2m€0.1m€0.1m€0.7m€0.2m€0.1m€0.3m▲ 80.6%
Income from financial fixed assets750----€0.5m----
Income from current assets751---€0.02m€0.05m€0.05m€0.03m€0.05m▲ 57.6%
Other financial income752/9---€0.08m€0.1m€0.1m€0.1m€0.2m▲ 86.6%
Financial charges65/66B---€1.4m€1.4m€1.9m€1.6m€1.2m▼ 24.1%
Recurring financial charges65€0.07m€0.07m€1.3m€1.4m€1.4m€1.8m€1.6m€0.9m▼ 41.6%
Debt charges650€0.05m€0.06m€1.3m€1.4m€1.4m€1.8m€1.6m€0.9m▼ 42.1%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651------€0.001m€175▼ 69.3%
Other financial charges652/9---€0.02m€0.01m€0.01m€0.01m€0.01m▲ 43.0%
Non-recurring financial charges66B-----€0.02m-€0.3m-
Profit (loss) for the period before taxes9903€1.8m€1.4m-€1.7m-€0.9m€0.3m-€0.2m€1.4m€2.6m▲ 83.4%
Income taxes67/77€0.6m€0.6m-€0.2m€0.2m€0.3m€0.2m€0.6m€1.0m▲ 58.1%
Taxes670/3---€0.2m€0.3m€0.2m€0.6m€1.0m▲ 58.1%
Profit (loss) for the period9904€1.2m€0.8m-€1.5m-€1.1m€0.07m-€0.4m€0.8m€1.6m▲ 104%
Transfer from tax-exempt reserves789-------€0.1m-
Profit (loss) for the period to be appropriated9905€1.2m€0.8m-€1.5m-€1.1m€0.07m-€0.4m€0.8m€1.7m▲ 119%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€12.4m€13.7m€50.1m€45.5m€41.9m€38.5m€35.4m€32.8m▼ 7.4%
Fixed assets21/28€5.6m€7.0m€39.1m€37.2m€33.4m€29.2m€25.3m€20.1m▼ 20.4%
Intangible fixed assets21€1.5m€2.4m€36.2m€34.0m€29.6m€25.4m€21.2m€17.2m▼ 18.8%
Tangible fixed assets22/27€1.0m€1.0m€1.5m€1.8m€2.3m€2.3m€2.5m€2.8m▲ 10.3%
Plant, machinery and equipment23---€1.6m€2.2m€2.1m€2.4m€2.6m▲ 10.0%
Furniture and vehicles24---€0.1m€0.1m€0.09m€0.07m€0.1m▲ 35.5%
Other tangible fixed assets26---€0.04m€0.04m€0.1m€0.1m€0.1m▲ 1.9%
Financial fixed assets28€3.1m€3.7m€1.5m€1.5m€1.5m€1.5m€1.5m€0.07m▼ 95.2%
Affiliated companies280/1---€1.5m€1.5m€1.5m€1.5m--
Participating interests280---€1.5m€1.5m€1.5m€1.5m--
Other financial fixed assets284/8---€0.03m€0.06m€0.05m€0.05m€0.07m▲ 51.2%
Amounts receivable and cash guarantees285/8---€0.03m€0.06m€0.05m€0.05m€0.07m▲ 51.2%
Current assets29/58€6.8m€6.6m€11.0m€8.2m€8.5m€9.4m€10.1m€12.7m▲ 25.3%
Stocks and contracts in progress3€0.9m€0.9m€1.3m€1.2m€1.3m€1.3m€1.4m€1.5m▲ 8.1%
Stocks30/36---€1.2m€1.3m€1.3m€1.4m€1.5m▲ 8.1%
Goods purchased for resale34---€1.2m€1.3m€1.3m€1.4m€1.5m▲ 8.1%
Amounts receivable within one year40/41€3.4m€3.4m€4.6m€4.9m€4.8m€5.4m€6.0m€6.3m▲ 3.8%
Trade receivables40---€4.8m€4.7m€5.4m€6.0m€6.3m▲ 3.9%
Other amounts receivable41---€0.09m€0.09m€0.001m€0.002m--
Current investments50/53-------€0.1m-
Other investments51/53-------€0.1m-
Cash at bank and in hand54/58€2.5m€2.2m€4.9m€1.9m€2.2m€2.6m€2.4m€4.5m▲ 88.6%
Deferred charges and accrued income490/1---€0.1m€0.1m€0.1m€0.2m€0.2m▼ 12.7%
Equity and liabilities
Total equity and liabilities10/49€12.4m€13.7m€50.1m€45.5m€41.9m€38.5m€35.4m€32.8m▼ 7.4%
Equity10/15€6.6m€7.4m€5.9m€4.8m€4.9m€4.5m€5.2m€6.8m▲ 30.3%
Contributions10/11€8.7m€8.7m€8.7m€8.7m€8.7m€8.7m€8.7m€8.7m=
Capital10---€8.7m€8.7m€8.7m€8.7m€8.7m=
Issued capital100---€8.7m€8.7m€8.7m€8.7m€8.7m=
Reserves13€0.3m€0.3m€0.3m€0.3m€0.3m€0.3m€0.3m€0.3m=
Non-distributable reserves130/1---€0.2m€0.2m€0.2m€0.2m€0.3m▲ 54.7%
Legal reserve130---€0.2m€0.2m€0.2m€0.2m€0.3m▲ 95.3%
Reserves not available under the articles1311------€0.04m--
Other1319---€0.04m€0.04m€0.04m---
Tax-exempt reserves132---€0.1m€0.1m€0.1m€0.1m--
Profit (loss) carried forward14-€2.5m-€1.6m-€3.2m-€4.3m-€4.2m-€4.6m-€3.8m-€2.2m▲ 41.7%
Provisions and deferred taxes16€0.05m€0.08m€0.3m€0.3m€0.3m€0.3m€0.3m€0.5m▲ 60.2%
Provisions for liabilities and charges160/5---€0.3m€0.3m€0.3m€0.3m€0.5m▲ 60.2%
Other liabilities and charges164/5---€0.3m€0.3m€0.3m€0.3m€0.5m▲ 60.2%
Amounts payable17/49€5.8m€6.2m€43.9m€40.4m€36.8m€33.8m€29.8m€25.5m▼ 14.6%
Amounts payable after more than one year17--€34.3m€30.0m€25.5m€21.0m€16.0m€11.0m▼ 31.3%
Financial debts170/4---€30.0m€25.5m€21.0m€16.0m€11.0m▼ 31.3%
Other loans174---€30.0m€25.5m€21.0m€16.0m€11.0m▼ 31.3%
Amounts payable within one year42/48€2.0m€1.9m€3.8m€4.2m€4.4m€5.1m€5.6m€6.6m▲ 17.6%
Trade debts44€0.7m€0.7m€1.1m€1.4m€1.4m€1.4m€1.5m€1.4m▼ 11.5%
Suppliers440/4---€1.4m€1.4m€1.4m€1.5m€1.4m▼ 11.5%
Taxes, remuneration and social security45---€2.9m€3.0m€3.6m€4.0m€5.2m▲ 28.7%
Taxes450/3---€0.9m€0.8m€1.0m€0.9m€1.7m▲ 85.3%
Remuneration and social security454/9---€2.0m€2.2m€2.7m€3.1m€3.5m▲ 12.1%
Other amounts payable47/48---€0.005m€0.005m€0.005m€0.003m--
Accrued charges and deferred income492/3---€6.1m€6.9m€7.7m€8.3m€7.9m▼ 4.1%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€1.2m€0.8m-€1.5m-€1.1m€0.07m-€0.4m€0.8m€1.6m▲ 104%
+ Depreciation and write-downs630€0.7m€1.0m€4.8m€5.4m€5.6m€5.5m€5.4m€5.6m▲ 2.4%
Operating cash flow (approximation)€1.9m€1.9m€3.3m€4.3m€5.7m€5.1m€6.2m€7.1m▲ 15.2%
Investment in fixed assets (approximation)--€2.5m-€36.9m-€3.5m-€1.8m-€1.3m-€1.5m-€0.4m▲ 73.9%
Change in cash--€0.3m€2.7m-€3.0m€0.3m€0.3m-€0.2m€2.1m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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31-12-2025 full format 27-07-2026 2026-00341456 NBB
31-12-2024 full format 30-06-2025 2025-00195602 PDF
31-12-2023 full format 24-06-2024 2024-00159668 PDF
31-12-2022 full format 27-06-2023 2023-00175513 PDF
31-12-2021 full format 28-06-2022 2022-20158028 PDF
31-12-2020 full format 29-06-2021 2021-26600270 PDF
31-12-2019 full format 31-07-2020 2020-38000274 PDF
31-12-2018 full format 08-08-2019 2019-44900092 PDF
31-12-2017 full format 26-06-2018 2018-23300116 PDF
31-12-2016 full format 30-06-2017 2017-26900139 PDF

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