APPLICATION SOFTWARE ENGINEERING BELGIUM
Open bankruptcyFinancials · financial year 2025, micro format
2025 annual accounts filed late (3 days) Filed on 3 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00037571.
Equity
€285,872▲ 9.0%
2024 · €262,308
Total assets
€342,852▲ 0.9%
2024 · €339,825
Net result
€23,564▼ 20.7%
2024 · €29,727
Working capital
€272,813▲ 52.2%
2024 · €179,292
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has risen four years in a row; 2025 is 6% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€31,634
2025
Net result€23,564
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€342,852
2025
Equity€285,872
2025
Debt€56,980
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€272,813
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€34,299-€20,819▼ 39.3%€19,740▼ 5.2%€26,404▲ 33.8%€27,899▲ 5.7%€29,972▲ 7.4%€31,634▲ 5.5%
Net result€16,843--€9,710€40,683€16,866▼ 58.5%€19,211▲ 13.9%€29,727▲ 54.7%€23,564▼ 20.7%
Equity€165,531-€155,821▼ 5.9%€196,504▲ 26.1%€213,370▲ 8.6%€232,581▲ 9.0%€262,308▲ 12.8%€285,872▲ 9.0%
Total assets€340,261-€288,028▼ 15.4%€292,699▲ 1.6%€303,007▲ 3.5%€327,963▲ 8.2%€339,825▲ 3.6%€342,852▲ 0.9%
Debt€174,730-€132,207▼ 24.3%€96,195▼ 27.2%€89,637▼ 6.8%€95,382▲ 6.4%€77,517▼ 18.7%€56,980▼ 26.5%
Working capital€37,793-€51,113▲ 35.2%€122,143▲ 139%€134,255▲ 9.9%€152,417▲ 13.5%€179,292▲ 17.6%€272,813▲ 52.2%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €342,852
Fixed assets
€66,859 ▼ 19.5%
Current assets
€275,993 ▲ 7.5%
Equity and liabilities €342,852
Equity
€285,872 ▲ 9.0%
Debt
€56,980 ▼ 26.5%
Debt's share of the balance-sheet total falls from 22.8% to 16.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,791▲
2024 · €45,670
Cash flow
€39,721▼
2024 · €45,425
Current ratio
86.79▲
2024 · 3.31
Debt to equity
0.20▼
2024 · 0.30
ROE
8.2%▼
2024 · 11.3%
ROA
6.9%▼
2024 · 8.7%
Interest coverage
over 100▲
2024 · 12.08
Debt ≤ 1 year
€3,180▼
2024 · €77,517
Income taxes
€8,179▼
2024 · €13,156
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,029 | €23,030 | €23,082 | €23,967 | €23,518 | €15,698 | €16,157 | ▲ 2.9% |
| Other operating charges640/8 | - | - | - | €62 | €62 | €212 | €138 | ▼ 34.9% |
| Gross operating margin9900 | €57,390 | €43,849 | €43,134 | €50,433 | €51,479 | €45,882 | €47,929 | ▲ 4.5% |
| Operating profit (loss)9901 | €34,299 | €20,819 | €19,740 | €26,404 | €27,899 | €29,972 | €31,634 | ▲ 5.5% |
| Financial income75/76B | - | - | - | €4,929 | €1,549 | €16,693 | €221 | ▼ 98.7% |
| Recurring financial income75 | €26 | €26 | €29,739 | €4,929 | €1,549 | €16,693 | €221 | ▼ 98.7% |
| Financial charges65/66B | - | - | - | €2,895 | €3,476 | €3,782 | €112 | ▼ 97.0% |
| Recurring financial charges65 | €16,065 | €22,503 | €4,236 | €2,895 | €3,476 | €3,782 | €112 | ▼ 97.0% |
| Profit (loss) for the period before taxes9903 | €18,260 | -€1,658 | €45,243 | €28,438 | €25,972 | €42,883 | €31,743 | ▼ 26.0% |
| Income taxes67/77 | €1,417 | €8,052 | €4,560 | €11,572 | €6,761 | €13,156 | €8,179 | ▼ 37.8% |
| Profit (loss) for the period9904 | €16,843 | -€9,710 | €40,683 | €16,866 | €19,211 | €29,727 | €23,564 | ▼ 20.7% |
| Profit (loss) for the period to be appropriated9905 | €16,843 | -€9,710 | €40,683 | €16,866 | €19,211 | €29,727 | €23,564 | ▼ 20.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €340,261 | €288,028 | €292,699 | €303,007 | €327,963 | €339,825 | €342,852 | ▲ 0.9% |
| Fixed assets21/28 | €127,738 | €104,708 | €84,361 | €87,115 | €80,164 | €83,016 | €66,859 | ▼ 19.5% |
| Tangible fixed assets22/27 | €125,878 | €102,848 | €82,501 | €85,255 | €78,304 | €81,156 | €64,999 | ▼ 19.9% |
| Land and buildings22 | - | - | - | €85,255 | €78,304 | €81,156 | €64,999 | ▼ 19.9% |
| Financial fixed assets28 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Current assets29/58 | €212,523 | €183,320 | €208,338 | €215,892 | €247,799 | €256,809 | €275,993 | ▲ 7.5% |
| Amounts receivable within one year40/41 | - | - | - | €4,658 | €39,665 | €6,953 | €3,000 | ▼ 56.9% |
| Other amounts receivable41 | - | - | - | €4,658 | €39,665 | €6,953 | €3,000 | ▼ 56.9% |
| Current investments50/53 | €160,594 | €150,947 | €180,412 | €185,317 | €184,632 | - | €200,000 | - |
| Cash at bank and in hand54/58 | €33,367 | €23,373 | €27,926 | €25,917 | €23,502 | €249,856 | €72,993 | ▼ 70.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €340,261 | €288,028 | €292,699 | €303,007 | €327,963 | €339,825 | €342,852 | ▲ 0.9% |
| Equity10/15 | €165,531 | €155,821 | €196,504 | €213,370 | €232,581 | €262,308 | €285,872 | ▲ 9.0% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €6,886 | €6,886 | €6,886 | €6,886 | €6,886 | €6,886 | €6,886 | = |
| Non-distributable reserves130/1 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Reserves not available under the articles1311 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Distributable reserves133 | - | - | - | €5,011 | €5,011 | €5,011 | €5,011 | = |
| Profit (loss) carried forward14 | €140,045 | €130,335 | €171,018 | €187,884 | €207,095 | €236,822 | €260,386 | ▲ 10.0% |
| Amounts payable17/49 | €174,730 | €132,207 | €96,195 | €89,637 | €95,382 | €77,517 | €56,980 | ▼ 26.5% |
| Amounts payable within one year42/48 | €174,730 | €132,207 | €86,195 | €81,637 | €95,382 | €77,517 | €3,180 | ▼ 95.9% |
| Trade debts44 | €62 | - | - | €7,439 | €21,069 | - | - | - |
| Suppliers440/4 | - | - | - | €7,439 | €21,069 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,503 | €6,761 | €11,052 | €3,180 | ▼ 71.2% |
| Taxes450/3 | - | - | - | €4,503 | €6,761 | €11,052 | €3,180 | ▼ 71.2% |
| Other amounts payable47/48 | - | - | - | €69,695 | €67,552 | €66,465 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €8,000 | - | - | €53,800 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,843 | -€9,710 | €40,683 | €16,866 | €19,211 | €29,727 | €23,564 | ▼ 20.7% |
| + Depreciation and write-downs630 | €23,029 | €23,030 | €23,082 | €23,967 | €23,518 | €15,698 | €16,157 | ▲ 2.9% |
| Operating cash flow (approximation) | €39,872 | €13,320 | €63,765 | €40,833 | €42,729 | €45,425 | €39,721 | ▼ 12.6% |
| Investment in fixed assets (approximation) | - | €0 | -€2,735 | -€26,721 | -€16,567 | -€18,550 | €0 | - |
| Change in cash | - | -€9,994 | €4,553 | -€2,009 | -€2,415 | €226,354 | -€176,863 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 03-02-2026 | 2026-00037571 |
| 30-06-2024 | micro format | 12-02-2025 | 2025-00036015 |
| 30-06-2023 | micro format | 19-02-2024 | 2024-00033303 |
| 30-06-2022 | micro format | 06-02-2023 | 2023-00025501 |
| 30-06-2021 | micro format | 01-02-2022 | 2022-04400334 |
| 30-06-2020 | micro format | 02-02-2021 | 2021-05000198 |
| 30-06-2019 | micro format | 08-12-2020 | 2020-74900519 |
| 30-06-2018 | micro format | 13-11-2018 | 2018-72400442 |
| 30-06-2017 | micro format | 16-11-2017 | 2017-69700337 |
| 30-06-2016 | abbreviated format | 15-11-2017 | 2017-69700399 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.