Skip to content

BGD

Active
Private limited companyfounded 2022active for 4 yearsAduatukersstraat 37, 1040 Etterbeek, BelgiumKBO/BCE: BE 0789.754.303

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 13-04-2026 PDF all 4 filings

Turnover
≈ €130,000
Estimated: probably between €82,000 and €160,000
Total assets
€925,248▲ 12.8%
2024 · €820,313
Net result
€63,266
2024 · -€1,101
Working capital
-€88,639▼ 1,711%
2024 · -€4,896
Trend over the years

2022 to 2025, 4 financial years

The operating result for 2025 is 182% higher than in 2024. It is a recovery after the fall in 2024.

Operating result€25,285 2025 Net result€63,266 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 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line2022202320242025
Operating result€31,399-€60,502▲ 92.7%€8,965▼ 85.2%€25,285▲ 182%
Net result€20,544within the sector's middle half-€42,831within the sector's middle half▲ 108%-€1,101below the sector's middle half€63,266above the sector's middle half
Equity€23,044within the sector's middle half-€65,876within the sector's middle half▲ 186%€64,775within the sector's middle half▼ 1.7%€95,478within the sector's middle half▲ 47.4%
Total assets€139,697within the sector's middle half-€167,946within the sector's middle half▲ 20.2%€820,313above the sector's middle half▲ 388%€925,248above the sector's middle half▲ 12.8%
Debt€116,653-€102,070▼ 12.5%€755,538▲ 640%€829,770▲ 9.8%
Working capital-€63,812below the sector's middle half-€2,307within the sector's middle half-€4,896below the sector's middle half-€88,639below the sector's middle half▼ 1,711%
Solvency16.5%below the sector's middle half-39.2%within the sector's middle half▲ 22.7pp7.9%below the sector's middle half▼ 31.3pp10.3%below the sector's middle half▲ 2.4pp
Current ratio0.45below the sector's middle half-1.02below the sector's middle half▲ 0.570.96below the sector's middle half▼ 0.060.71below the sector's middle half▼ 0.25
Return on assets (ROA)14.7%within the sector's middle half-25.5%within the sector's middle half▲ 10.8pp-0.1%below the sector's middle half▼ 25.6pp6.8%within the sector's middle half▲ 7.0pp
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.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €925,248
Fixed assets €709,263 ▲ 2.8%
Current assets €215,984 ▲ 65.7%
Equity and liabilities €925,248
Equity €95,478 ▲ 47.4%
Debt €829,770 ▲ 9.8%
Debt's share of the balance-sheet total falls from 92.1% to 89.7%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€43,396▲
2024 · €26,989
Cash flow
€81,377▲
2024 · €16,923
Debt to equity
8.69▼
2024 · 11.66
ROE
66.3%▲
2024 · -1.7%
Interest coverage
1.98▼
2024 · 3.04
Debt ≤ 1 year
€304,624▲
2024 · €135,222
Debt > 1 year
€524,690▼
2024 · €620,316
Income taxes
€5,477▲
2024 · €1,186
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item2022202320242025
Tangible fixed assets€93,926€16,761€9,434€10,969
Financial fixed assets--€635,000€26,420
Depreciation and write-downs of the year€7,069€14,175€18,024€18,111

Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet Code20242025
Assets
Total assets20/58€820,313€925,248▲
Fixed assets21/28€689,986€709,263▲
Tangible fixed assets22/27€54,986€47,843▼
Land and buildings22-€10,882
Furniture and vehicles24€45,760€30,162▼
Other tangible fixed assets26€9,226€6,800▼
Financial fixed assets28€635,000€661,420▲
Current assets29/58€130,327€215,984▲
Amounts receivable within one year40/41€97,190€205,787▲
Trade receivables40€52,190€127,207▲
Other amounts receivable41€45,000€78,580▲
Cash at bank and in hand54/58€29,075€7,357▼
Deferred charges and accrued income490/1€4,061€2,841▼
Equity and liabilities
Total equity and liabilities10/49€820,313€925,248▲
Equity10/15€64,775€95,478▲
Contributions10/11€2,500€2,500=
Reserves13€63,376€92,978▲
Distributable reserves133€63,376€92,978▲
Profit (loss) carried forward14-€1,101€0▲
Amounts payable17/49€755,538€829,770▲
Amounts payable after more than one year17€620,316€524,690▼
Financial debts170/4€620,316€524,690▼
Amounts payable within one year42/48€135,222€304,624▲
Current portion of amounts payable after more than one year42€29,684€89,556▲
Trade debts44€4,603€131,404▲
Suppliers440/4€4,603€131,404▲
Taxes, remuneration and social security45€9,555€9,565▲
Taxes450/3€9,555€9,565▲
Other amounts payable47/48€91,380€74,099▼
Accrued charges and deferred income492/3-€456
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18,024€18,111▲
Other operating charges640/8€64€472▲
Gross operating margin9900€27,053€43,868▲
Operating profit (loss)9901€8,965€25,285▲
Financial income75/76B€0€65,374▲
Recurring financial income75€0€65,374▲
Financial charges65/66B€8,880€21,918▲
Recurring financial charges65€8,880€21,918▲
Profit (loss) for the period before taxes9903€85€68,742▲
Income taxes67/77€1,186€5,477▲
Profit (loss) for the period9904-€1,101€63,266▲
Profit (loss) for the period to be appropriated9905-€1,101€63,266▲
Appropriation of the result
Profit (loss) to be appropriated9906-€1,101€62,165▲
Profit (loss) brought forward from the previous period14P--€1,101
Transfer to equity691/2-€29,602
To other reserves6921-€29,602
Profit to be distributed694/7-€32,562
Return on contributions (dividend)694-€32,562

The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 13-04-2026.

Line2022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,069€14,175€18,024€18,111▲ 0.5%
Other operating charges640/8-€8,050€64€472▲ 639%
Gross operating margin9900€38,468€82,727€27,053€43,868▲ 62.2%
Operating profit (loss)9901€31,399€60,502€8,965€25,285▲ 182%
Financial income75/76B€40€16€0€65,374▲ 3,268,722×
Recurring financial income75€40€16€0€65,374▲ 3,268,722×
Financial charges65/66B€49€96€8,880€21,918▲ 147%
Recurring financial charges65€49€96€8,880€21,918▲ 147%
Profit (loss) for the period before taxes9903€31,390€60,423€85€68,742▲ 805×
Income taxes67/77€10,846€17,591€1,186€5,477▲ 362%
Profit (loss) for the period9904€20,544€42,831-€1,101€63,266-
Profit (loss) for the period to be appropriated9905€20,544€42,831-€1,101€63,266-
Line2022202320242025Change
Assets
Total assets20/58€139,697€167,946€820,313€925,248▲ 12.8%
Fixed assets21/28€86,856€63,576€689,986€709,263▲ 2.8%
Tangible fixed assets22/27€86,856€63,576€54,986€47,843▼ 13.0%
Land and buildings22---€10,882-
Furniture and vehicles24€86,856€61,357€45,760€30,162▼ 34.1%
Other tangible fixed assets26-€2,219€9,226€6,800▼ 26.3%
Financial fixed assets28--€635,000€661,420▲ 4.2%
Current assets29/58€52,841€104,370€130,327€215,984▲ 65.7%
Amounts receivable within one year40/41€28,112€36,759€97,190€205,787▲ 112%
Trade receivables40€28,112€36,759€52,190€127,207▲ 144%
Other amounts receivable41--€45,000€78,580▲ 74.6%
Cash at bank and in hand54/58€22,403€64,115€29,075€7,357▼ 74.7%
Deferred charges and accrued income490/1€2,326€3,496€4,061€2,841▼ 30.1%
Equity and liabilities
Total equity and liabilities10/49€139,697€167,946€820,313€925,248▲ 12.8%
Equity10/15€23,044€65,876€64,775€95,478▲ 47.4%
Contributions10/11€2,500€2,500€2,500€2,500=
Reserves13€20,544€63,376€63,376€92,978▲ 46.7%
Distributable reserves133€20,544€63,376€63,376€92,978▲ 46.7%
Profit (loss) carried forward14---€1,101€0-
Amounts payable17/49€116,653€102,070€755,538€829,770▲ 9.8%
Amounts payable after more than one year17--€620,316€524,690▼ 15.4%
Financial debts170/4--€620,316€524,690▼ 15.4%
Amounts payable within one year42/48€116,653€102,062€135,222€304,624▲ 125%
Current portion of amounts payable after more than one year42--€29,684€89,556▲ 202%
Trade debts44€30,450€11,269€4,603€131,404▲ 29×
Suppliers440/4€30,450€11,269€4,603€131,404▲ 29×
Taxes, remuneration and social security45€17,991€38,683€9,555€9,565▲ 0.1%
Taxes450/3€17,991€38,683€9,555€9,565▲ 0.1%
Other amounts payable47/48€68,212€52,110€91,380€74,099▼ 18.9%
Accrued charges and deferred income492/3-€8-€456-
Line2022202320242025Change
Profit (loss) for the period9904€20,544€42,831-€1,101€63,266-
+ Depreciation and write-downs630€7,069€14,175€18,024€18,111▲ 0.5%
Operating cash flow (approximation)€27,613€57,006€16,923€81,377▲ 381%
Investment in fixed assets (approximation)-€9,105-€644,434-€37,389▲ 94.2%
Change in cash-€41,712-€35,040-€21,719▲ 38.0%

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

Download as CSV

Filings with the National Bank (4)
Financial year Type Filed Reference Document
31-12-2025 micro format 13-04-2026 2026-00078122 PDF
31-12-2024 micro format 13-06-2025 2025-00142752 PDF
31-12-2023 micro format 24-06-2024 2024-00160345 PDF
31-12-2022 micro format 19-09-2023 2023-00449930 PDF

Next steps