Financials · financial year 2025, full format
Annual accounts 2025 filed on 21-07-2026 at the NBB all 53 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€291,830▼ 26.7%
2024 · €398,399
Working capital
€5.0m▼ 27.4%
2024 · €6.9m
In the rankings
#1 company by total assets in Kluisbergen, Professional and technical services sector#1 company by equity in Kluisbergen, Professional and technical services sector#1 oldest company in Kluisbergen, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€139,836
▼ 242%
2025
20182025
Net result
€291,830
▼ 26.7%
2025
highest quarter of the sector
20182025
Equity
€16.0m
▲ 1.9%
2025
highest quarter of the sector
20182025
Total assets
€16.4m
▲ 3.7%
2025
highest quarter of the sector
20182025
Debt
€403,140
▲ 239%
2025
20182025
Working capital
€5.0m
▼ 27.4%
2025
highest quarter of the sector
20182025
Solvency
97.5%
▼ 1.7pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
1.8%
▼ 0.7pp
2025
middle half of the sector
20182025
Staff (FTE)
0.8
=
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.1m-€0.1m-€0.02m-€0.03m▼ 2.8%-€0.02m▲ 36.7%-€0.09m▼ 458%-€0.04m▲ 54.2%-€0.1m▼ 242%
Net result€0.2m-€0.5m▲ 126%-€0.3mbelow the sector's middle half€0.4mabove the sector's middle half€0.4mabove the sector's middle half▲ 0.3%€0.3mabove the sector's middle half▼ 31.2%€0.4mabove the sector's middle half▲ 47.6%€0.3mabove the sector's middle half▼ 26.7%
Equity€14.0m-€14.5m▲ 3.3%€14.2mabove the sector's middle half▼ 1.9%€14.6mabove the sector's middle half▲ 2.8%€15.0mabove the sector's middle half▲ 2.7%€15.3mabove the sector's middle half▲ 1.8%€15.7mabove the sector's middle half▲ 2.6%€16.0mabove the sector's middle half▲ 1.9%
Total assets€16.6m-€15.3m▼ 8.0%€14.9mabove the sector's middle half▼ 2.6%€15.0mabove the sector's middle half▲ 0.2%€15.2mabove the sector's middle half▲ 1.7%€18.4mabove the sector's middle half▲ 20.9%€15.8mabove the sector's middle half▼ 14.2%€16.4mabove the sector's middle half▲ 3.7%
Debt€2.6m-€0.8m▼ 68.3%€0.7m▼ 13.7%€0.4m▼ 49.7%€0.2m▼ 36.5%€3.1m▲ 14×€0.1m▼ 96.2%€0.4m▲ 239%
Working capital€1.1m-€1.6m▲ 43.0%€1.7mabove the sector's middle half▲ 7.4%€3.4mabove the sector's middle half▲ 91.9%€2.2mabove the sector's middle half▼ 34.3%-€2.2mbelow the sector's middle half€6.9mabove the sector's middle half€5.0mabove the sector's middle half▼ 27.4%
Solvency84.3%-94.6%▲ 10.3pp95.2%above the sector's middle half▲ 0.6pp97.6%above the sector's middle half▲ 2.4pp98.5%above the sector's middle half▲ 0.9pp82.9%above the sector's middle half▼ 15.6pp99.2%above the sector's middle half▲ 16.3pp97.5%above the sector's middle half▼ 1.7pp
Current ratio1.43-2.96▲ 1.533.45above the sector's middle half▲ 0.4810.34above the sector's middle half▲ 6.8910.65above the sector's middle half▲ 0.310.30below the sector's middle half▼ 10.3558.68above the sector's middle half▲ 58.38
Return on assets (ROA)1.2%-3.0%▲ 1.8pp-1.9%below the sector's middle half▼ 4.9pp2.6%within the sector's middle half▲ 4.5pp2.6%within the sector's middle half=1.5%within the sector's middle half▼ 1.1pp2.5%within the sector's middle half▲ 1.1pp1.8%within the sector's middle half▼ 0.7pp
Staff (FTE)1-1=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=0.8within the sector's middle half▼ 20.0%0.8within the sector's middle half=0.8below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 operating result for 2025 is a loss of €139,836, larger than the loss of €40,943 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.4m
Fixed assets
€11.3m ▲ 28.7%
Current assets
€5.0m ▼ 27.9%
Equity and liabilities €16.4m
Equity
€16.0m ▲ 1.9%
Debt
€403,140 ▲ 239%
Debt's share of the balance-sheet total rises from 0.8% to 2.5%. Equity and debt are higher.
Key figures and ratios
ROE
1.8%▼
2024 · 2.5%
Debt ≤ 1 year
€49,808▼
2024 · €118,911
Debt > 1 year
€353,332
Income taxes
€3,348▲
2024 · €276
Staff costs
€73,227▲
2024 · €56,642
A ratio outside any meaningful range has been withheld (balance sheet total €16.4m, equity €16.0m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | - | - | - |
| part-time | - | - | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 0.8 | 0.8 | 0.8 |
| Average over the year, in full-time equivalents | 1 | 1 | 0.8 | 0.8 | 0.8 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €630,000 |
| Financial fixed assets | €3,750 | €1.8m | €5.8m | €1.3m | €1.9m |
| Depreciation and write-downs of the year | - | - | - | - | €24,641 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €57 | - |
| Remuneration, social security and pensions62 | - | - | - | €0.06m | €0.07m | €0.08m | €0.06m | €0.07m | ▲ 29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | - | - | - | - | - | - | €0.02m | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.001m | €0.001m | €0.001m | €0.004m | ▲ 218% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.03m | - | - | - |
| Gross operating margin9900 | -€0.03m | €0.2m | €0.04m | €0.04m | €0.05m | €0.02m | €0.02m | -€0.04m | - |
| Operating profit (loss)9901 | -€0.1m | €0.1m | -€0.02m | -€0.03m | -€0.02m | -€0.09m | -€0.04m | -€0.1m | ▼ 242% |
| Financial income75/76B | - | - | - | €1.1m | €0.5m | €0.6m | €0.5m | €0.5m | ▼ 0.1% |
| Recurring financial income75 | €0.8m | €0.7m | €0.6m | €1.0m | €0.5m | €0.6m | €0.3m | €0.5m | ▲ 40.2% |
| Non-recurring financial income76B | - | - | - | €0.06m | - | - | €0.1m | - | - |
| Financial charges65/66B | - | - | - | €0.6m | €0.005m | €0.1m | €0.01m | €0.02m | ▲ 31.6% |
| Recurring financial charges65 | €0.1m | €0.07m | €0.7m | €0.1m | €0.005m | €0.1m | €0.01m | €0.02m | ▲ 31.6% |
| Non-recurring financial charges66B | - | - | - | €0.5m | - | €0.001m | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.7m | -€0.3m | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 26.0% |
| Income taxes67/77 | €0.07m | €0.3m | - | €0.1m | €0.1m | €0.1m | €276 | €0.003m | ▲ 12× |
| Profit (loss) for the period9904 | €0.2m | €0.5m | -€0.3m | €0.4m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 26.7% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.5m | -€0.3m | €0.4m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 26.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €16.6m | €15.3m | €14.9m | €15.0m | €15.2m | €18.4m | €15.8m | €16.4m | ▲ 3.7% |
| Fixed assets21/28 | €12.9m | €12.9m | €12.5m | €11.2m | €12.8m | €17.5m | €8.8m | €11.3m | ▲ 28.7% |
| Tangible fixed assets22/27 | - | - | - | - | - | - | - | €0.6m | - |
| Land and buildings22 | - | - | - | - | - | - | - | €0.6m | - |
| Financial fixed assets28 | €12.9m | €12.9m | €12.5m | €11.2m | €12.8m | €17.5m | €8.8m | €10.7m | ▲ 21.8% |
| Current assets29/58 | €3.8m | €2.5m | €2.5m | €3.7m | €2.4m | €0.9m | €7.0m | €5.0m | ▼ 27.9% |
| Amounts receivable within one year40/41 | €3.7m | €2.3m | €2.4m | €2.1m | €2.1m | €0.9m | €6.4m | €4.9m | ▼ 23.6% |
| Trade receivables40 | - | - | - | - | - | - | €0.5m | - | - |
| Other amounts receivable41 | - | - | - | €2.1m | €2.1m | €0.9m | €5.9m | €4.9m | ▼ 17.2% |
| Current investments50/53 | €0.05m | €0.05m | €0.05m | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.02m | €0.1m | €0.06m | €1.7m | €0.3m | €0.02m | €0.6m | €0.1m | ▼ 74.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.02m | €0.001m | ▼ 95.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €16.6m | €15.3m | €14.9m | €15.0m | €15.2m | €18.4m | €15.8m | €16.4m | ▲ 3.7% |
| Equity10/15 | €14.0m | €14.5m | €14.2m | €14.6m | €15.0m | €15.3m | €15.7m | €16.0m | ▲ 1.9% |
| Contributions10/11 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Capital10 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Issued capital100 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Profit (loss) carried forward14 | €12.7m | €13.1m | €12.9m | €13.2m | €13.6m | €13.9m | €14.3m | €14.6m | ▲ 2.0% |
| Amounts payable17/49 | €2.6m | €0.8m | €0.7m | €0.4m | €0.2m | €3.1m | €0.1m | €0.4m | ▲ 239% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | - | €0.4m | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €0.4m | - |
| Amounts payable within one year42/48 | €2.6m | €0.8m | €0.7m | €0.4m | €0.2m | €3.1m | €0.1m | €0.05m | ▼ 58.1% |
| Financial debts43 | - | - | - | €0.3m | - | - | - | €0.03m | - |
| Credit institutions430/8 | - | - | - | €0.3m | - | - | - | €0.03m | - |
| Trade debts44 | €0.002m | €0.001m | €0.006m | €0.001m | €0.001m | €198 | €467 | €0.007m | ▲ 16× |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €198 | €467 | €0.007m | ▲ 16× |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.2m | €0.3m | €0.1m | €0.02m | ▼ 86.6% |
| Taxes450/3 | - | - | - | €0.1m | €0.2m | €0.2m | €0.1m | €0.005m | ▼ 94.9% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.02m | €0.01m | €0.01m | ▼ 9.7% |
| Other amounts payable47/48 | - | - | - | - | €0.001m | €2.9m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €137 | - | €77 | €62 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.5m | -€0.3m | €0.4m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 26.7% |
| + Depreciation and write-downs630 | €0.01m | - | - | - | - | - | - | €0.02m | - |
| Operating cash flow (approximation) | €0.2m | €0.5m | -€0.3m | €0.4m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 20.6% |
| Investment in fixed assets (approximation) | - | €0.03m | €0.4m | €1.2m | -€1.5m | -€4.7m | €8.7m | -€2.5m | - |
| Change in cash | - | €0.1m | -€0.08m | €1.6m | -€1.4m | -€0.3m | €0.5m | -€0.4m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 53 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 21-07-2026 | 2026-00323489 | |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00231552 | |
| 31-12-2023 | abbreviated format | 09-07-2024 | 2024-00240421 | |
| 31-12-2022 | abbreviated format | 05-07-2023 | 2023-00215187 | |
| 31-12-2021 | abbreviated format | 08-08-2022 | 2022-20279313 | |
| 31-12-2020 | abbreviated format | 15-07-2021 | 2021-35800019 | |
| 31-12-2019 | abbreviated format | 07-07-2020 | 2020-27400435 | |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-31400516 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-31800226 | |
| 31-12-2016 | abbreviated format | 25-07-2017 | 2017-35700440 |