AS DEVELOP
Annual accounts 2023
micro format, filed on 13-08-2026, 743 days late2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 6 November 2026.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €200,000. Estimated: probably between €120,000 and €330,000.
Balance sheet
balance sheet total €47,209 on 31-12-2023Change in equityin euro
Change in cashin euro
Position in the sector
Solvency-17.2%
Higher than 22% of 17,629 companies in 2023.
Current ratio0.42
Higher than 21% of 17,026 companies in 2023.
Return on assets-90.4%
Lower than 95% of 17,112 companies in 2023.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Staff
Staff cost per FTE€37,088
Staff costs divided by the average number of full-time equivalents.
Joined and left+0
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2023 | 2022 |
|---|---|---|---|
| Balance sheet: assets | |||
Total assets20/58 |
47,209 | 104,857 | |
Fixed assets21/28 |
23,890 | 27,106 | |
Tangible fixed assets22/27 |
23,890 | 27,106 | |
Plant, machinery and equipment23 |
10,306 | 14,399 | |
Furniture and vehicles24 |
13,584 | 12,708 | |
Current assets29/58 |
23,319 | 77,751 | |
Amounts receivable within one year40/41 |
12,449 | 63,657 | |
Trade receivables40 |
0 | 62,439 | |
Other amounts receivable41 |
12,449 | 1,218 | |
Cash at bank and in hand54/58 |
10,870 | 14,094 | |
| Balance sheet: equity and liabilities | |||
Total equity and liabilities10/49 |
47,209 | 104,857 | |
Equity10/15 |
-8,139 | 34,542 | |
Contributions10/11 |
15,000 | 15,000 | |
Profit (loss) carried forward14 |
-23,139 | 19,542 | |
Amounts payable17/49 |
55,348 | 70,315 | |
Other amounts payable178/9 |
- | 0 | |
Amounts payable within one year42/48 |
55,348 | 70,315 | |
Trade debts44 |
36,235 | 53,577 | |
Suppliers440/4 |
36,235 | 53,577 | |
Taxes, remuneration and social security45 |
4,492 | 4,120 | |
Taxes450/3 |
192 | 0 | |
Remuneration and social security454/9 |
4,300 | 4,120 | |
Other amounts payable47/48 |
14,621 | 12,617 | |
| Income statement | |||
Gross operating margin9900 |
17,418 | 41,667 | |
Remuneration, social security and pensions62 |
48,214 | 20,118 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
11,049 | 1,769 | |
Other operating charges640/8 |
- | 206 | |
Operating profit (loss)9901 |
-41,845 | 19,575 | |
Financial income75/76B |
1 | 1 | |
Recurring financial income75 |
1 | 1 | |
Financial charges65/66B |
838 | 33 | |
Recurring financial charges65 |
838 | 33 | |
Profit (loss) for the period before taxes9903 |
-42,681 | 19,542 | |
Profit (loss) for the period9904 |
-42,681 | 19,542 | |
Profit (loss) for the period to be appropriated9905 |
-42,681 | 19,542 | |
| Appropriation of the result | |||
Profit (loss) to be appropriated9906 |
-23,139 | 19,542 | |
Profit (loss) brought forward from the previous period14P |
19,542 | - | |
| Social balance sheet | |||
Average staff (FTE)9087 |
1.3 | 1.3 | |
Hours worked1013 |
1,426 | - | |
| Document | |||
The notes to these accounts have 5 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 2023 at the NBB, filed on 13-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2023 | 2022 |
|---|---|---|---|
| EBITDA | -30,796 | 21,344 | |
| Cash flow | -31,632 | 21,311 | |
| Investment in fixed assets | 7,833 | 28,875 | |
| Change in cash | -3,225 | - | |
| Working capital | -32,029 | 7,436 | |
| Solvency | -17.2% | 32.9% | |
| Current ratio | 0.42 | 1.11 | |
| Debt to equity | - | 2.04 | |
| ROE | - | 56.6% | |
| ROA | -90.4% | 18.6% | |
| Interest coverage | -36.77 | over 100 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 3 | - |
| part-time | 3 | - |
| in full-time equivalents | 1.3 | - |
| Average over the year, in full-time equivalents | 1.3 | 1.3 |
| Joined | 10 | 10 |
| Left | 10 | 10 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
fixed assets acquired| Item | 2023 | 2022 |
|---|---|---|
| Tangible fixed assets | €7,833 | €28,875 |
| Depreciation and write-downs of the year | €11,049 | €1,769 |
Source: notes to the 2022 to 2023 annual accounts (statement of fixed assets)
Insights on AS DEVELOP
The operating result for 2023 is a loss of €41,845, after a profit of €19,575 in 2022.
Equity is negative. Debt (€55,348) exceeds the balance-sheet total (€47,209).