BCO-3
Annual accounts 2025
micro format, filed on 28-08-2026, 28 days lateTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €21,673 on 31-12-2025Change in equityin euro
Change in cashin euro
Position in the sector
Solvency60.5%
Higher than 72% of 5,712 companies in 2025.
Current ratio2.18
Higher than 67% of 5,573 companies in 2025.
Return on assets-56.9%
Lower than 95% of 5,599 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
Total assets20/58 |
21,673 | 36,374 | |
Fixed assets21/28 |
3,004 | 1,386 | |
Tangible fixed assets22/27 |
3,004 | 1,386 | |
Plant, machinery and equipment23 |
1,137 | 1,386 | |
Furniture and vehicles24 |
1,867 | - | |
Current assets29/58 |
18,670 | 34,987 | |
Amounts receivable within one year40/41 |
18,665 | 28,396 | |
Trade receivables40 |
9,406 | - | |
Other amounts receivable41 |
9,259 | 28,396 | |
Cash at bank and in hand54/58 |
4 | 6,592 | |
| Balance sheet: equity and liabilities | |||
Total equity and liabilities10/49 |
21,673 | 36,374 | |
Equity10/15 |
13,103 | 25,435 | |
Contributions10/11 |
2,000 | 2,000 | |
Profit (loss) carried forward14 |
11,103 | 23,435 | |
Amounts payable17/49 |
8,570 | 10,939 | |
Amounts payable within one year42/48 |
8,570 | 10,939 | |
Trade debts44 |
939 | 3,194 | |
Suppliers440/4 |
939 | 3,194 | |
Taxes, remuneration and social security45 |
7,632 | 7,745 | |
Taxes450/3 |
7,632 | 7,745 | |
| Income statement | |||
Gross operating margin9900 |
-11,136 | 29,846 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
990 | 321 | |
Operating profit (loss)9901 |
-12,126 | 29,525 | |
Financial charges65/66B |
205 | - | |
Recurring financial charges65 |
205 | - | |
Profit (loss) for the period before taxes9903 |
-12,331 | 29,525 | |
Income taxes67/77 |
- | 6,091 | |
Profit (loss) for the period9904 |
-12,331 | 23,435 | |
Profit (loss) for the period to be appropriated9905 |
-12,331 | 23,435 | |
| Appropriation of the result | |||
Profit (loss) to be appropriated9906 |
11,103 | 23,435 | |
Profit (loss) brought forward from the previous period14P |
23,435 | - | |
| 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 2025 at the NBB, filed on 28-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 28 days after the deadline. Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476908.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| EBITDA | -11,136 | 29,846 | |
| Cash flow | -11,342 | 23,756 | |
| Investment in fixed assets | 2,607 | 1,707 | |
| Change in cash | -6,587 | - | |
| Working capital | 10,099 | 24,048 | |
| Solvency | 60.5% | 69.9% | |
| Current ratio | 2.18 | 3.20 | |
| Debt to equity | 0.65 | 0.43 | |
| ROE | -94.1% | 92.1% | |
| ROA | -56.9% | 64.4% | |
| Interest coverage | -54.24 | - |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €2,607 | €1,707 |
| Depreciation and write-downs of the year | €990 | €321 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on BCO-3
The operating result for 2025 is a loss of €12,126, after a profit of €29,525 in 2024.
Debt's share of the balance-sheet total rises from 30.1% to 39.5%. Equity and debt are lower.