BLAVIER
InactiveFinancials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00044465.
Annual accounts 2025 filed on 25-02-2026 PDF all 6 filings
Turnover
≈ €170,000
Estimated: probably between €100,000 and €310,000
Total assets
€135,599▼ 10.7%
2024 · €151,845
Net result
€26,264▲ 173%
2024 · €9,613
Working capital
€109,575▲ 134%
2024 · €46,817
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€33,103
▲ 74.2%
2025
20202025
Net result
€26,264
▲ 173%
2025
20202025
Equity
€102,629
▲ 34.4%
2025
20202025
Total assets
€135,599
▼ 10.7%
2025
20202025
Debt
€32,970
▼ 56.3%
2025
20202025
Working capital
€109,575
▲ 134%
2025
20202025
Staff (FTE)
0.5
▼ 50.0%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€5,283-€18,989▲ 259%€25,454▲ 34.0%€48,643▲ 91.1%€19,000▼ 60.9%€33,103▲ 74.2%
Net result€3,223-€15,216▲ 372%€15,630▲ 2.7%€30,183▲ 93.1%€9,613▼ 68.2%€26,264▲ 173%
Equity€5,723-€20,939▲ 266%€36,569▲ 74.6%€66,752▲ 82.5%€76,365▲ 14.4%€102,629▲ 34.4%
Total assets€82,812-€68,413▼ 17.4%€111,924▲ 63.6%€135,632▲ 21.2%€151,845▲ 12.0%€135,599▼ 10.7%
Debt€77,090-€47,474▼ 38.4%€75,355▲ 58.7%€68,880▼ 8.6%€75,481▲ 9.6%€32,970▼ 56.3%
Working capital-€26,125--€3,827▲ 85.4%€30,545€27,835▼ 8.9%€46,817▲ 68.2%€109,575▲ 134%
Staff (FTE)0.4-0.3▼ 25.0%6▲ 20×5▼ 16.7%1▼ 80.0%0.5▼ 50.0%
The operating result for 2025 is 74% higher than in 2024. It is a recovery after the fall in 2024.
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 €135,599
Fixed assets
€142 ▼ 99.6%
Current assets
€135,457 ▲ 14.0%
Equity and liabilities €135,599
Equity
€102,629 ▲ 34.4%
Debt
€32,970 ▼ 56.3%
Debt's share of the balance-sheet total falls from 49.7% to 24.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,305▲
2024 · €31,848
Cash flow
€26,466▲
2024 · €22,461
Current ratio
5.23▲
2024 · 1.65
Debt to equity
0.32▼
2024 · 0.99
ROE
25.6%▲
2024 · 12.6%
ROA
19.4%▲
2024 · 6.3%
Interest coverage
10.78▼
2024 · 12.68
Debt ≤ 1 year
€25,882▼
2024 · €72,000
Income taxes
€16,438▲
2024 · €6,875
Staff costs
€4,658▼
2024 · €14,730
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | - | 4 | 1 | - |
| full-time | - | 1 | 1 | - |
| part-time | - | 3 | - | - |
| in full-time equivalents | - | 1.3 | 1 | - |
| Average over the year, in full-time equivalents | 1.2 | 1.3 | 1 | 0.5 |
| On a permanent contract | - | 1 | 1 | - |
| Joined | 15 | 10 | 101 | 14 |
| Left | 16 | 6 | 101 | 14 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €450 | €22,980 | - | - |
| Depreciation and write-downs of the year | €8,393 | €9,051 | €12,848 | €202 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €35,555 | €58,688 | €14,730 | €4,658 | ▼ 68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,263 | €9,340 | €8,393 | €9,051 | €12,848 | €202 | ▼ 98.4% |
| Other operating charges640/8 | - | - | €2,552 | €4,062 | €3,940 | €4,894 | ▲ 24.2% |
| Gross operating margin9900 | €34,317 | €46,420 | €71,955 | €120,444 | €50,518 | €42,856 | ▼ 15.2% |
| Operating profit (loss)9901 | €5,283 | €18,989 | €25,454 | €48,643 | €19,000 | €33,103 | ▲ 74.2% |
| Financial income75/76B | - | - | €0 | €0 | €0 | €13,240 | ▲ 330,999× |
| Recurring financial income75 | €0 | €245 | €0 | €0 | €0 | €0 | ▲ 900% |
| Non-recurring financial income76B | - | - | - | - | - | €13,240 | - |
| Financial charges65/66B | - | - | €2,484 | €3,337 | €2,512 | €3,640 | ▲ 44.9% |
| Recurring financial charges65 | €1,738 | €2,233 | €2,484 | €3,337 | €2,512 | €3,088 | ▲ 23.0% |
| Non-recurring financial charges66B | - | - | - | - | - | €551 | - |
| Profit (loss) for the period before taxes9903 | €3,545 | €17,002 | €22,970 | €45,306 | €16,488 | €42,703 | ▲ 159% |
| Income taxes67/77 | €322 | €1,786 | €7,340 | €15,123 | €6,875 | €16,438 | ▲ 139% |
| Profit (loss) for the period9904 | €3,223 | €15,216 | €15,630 | €30,183 | €9,613 | €26,264 | ▲ 173% |
| Profit (loss) for the period to be appropriated9905 | €3,223 | €15,216 | €15,630 | €30,183 | €9,613 | €26,264 | ▲ 173% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €82,812 | €68,413 | €111,924 | €135,632 | €151,845 | €135,599 | ▼ 10.7% |
| Fixed assets21/28 | €45,975 | €39,890 | €31,947 | €45,876 | €33,028 | €142 | ▼ 99.6% |
| Intangible fixed assets21 | €8,750 | €7,750 | €6,750 | €5,750 | €4,750 | - | - |
| Tangible fixed assets22/27 | €37,225 | €32,140 | €25,197 | €40,126 | €28,278 | €142 | ▼ 99.5% |
| Land and buildings22 | - | - | €23,255 | €27,895 | €20,908 | - | - |
| Plant, machinery and equipment23 | - | - | €940 | €1,929 | €1,102 | - | - |
| Furniture and vehicles24 | - | - | €1,002 | €10,303 | €6,268 | €142 | ▼ 97.7% |
| Current assets29/58 | €36,837 | €28,523 | €79,978 | €89,756 | €118,817 | €135,457 | ▲ 14.0% |
| Stocks and contracts in progress3 | €5,185 | €4,408 | €2,065 | €1,022 | €239 | - | - |
| Stocks30/36 | - | - | €2,065 | €1,022 | €239 | - | - |
| Amounts receivable within one year40/41 | €1,863 | €8,203 | €30,026 | €67,613 | €58,304 | €56,297 | ▼ 3.4% |
| Trade receivables40 | - | - | €1,032 | €1,474 | €3,150 | €30,366 | ▲ 864% |
| Other amounts receivable41 | - | - | €28,994 | €66,139 | €55,153 | €25,932 | ▼ 53.0% |
| Cash at bank and in hand54/58 | €29,518 | €15,236 | €46,938 | €12,877 | €54,042 | €79,159 | ▲ 46.5% |
| Deferred charges and accrued income490/1 | - | - | €949 | €8,244 | €6,233 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €82,812 | €68,413 | €111,924 | €135,632 | €151,845 | €135,599 | ▼ 10.7% |
| Equity10/15 | €5,723 | €20,939 | €36,569 | €66,752 | €76,365 | €102,629 | ▲ 34.4% |
| Contributions10/11 | - | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €3,223 | €18,439 | €34,069 | €64,252 | €73,865 | €100,129 | ▲ 35.6% |
| Distributable reserves133 | - | - | €34,069 | €64,252 | €73,865 | €100,129 | ▲ 35.6% |
| Amounts payable17/49 | €77,090 | €47,474 | €75,355 | €68,880 | €75,481 | €32,970 | ▼ 56.3% |
| Amounts payable after more than one year17 | €14,055 | €10,157 | €4,930 | - | - | - | - |
| Financial debts170/4 | - | - | €4,930 | - | - | - | - |
| Amounts payable within one year42/48 | €62,962 | €32,350 | €49,433 | €61,922 | €72,000 | €25,882 | ▼ 64.1% |
| Current portion of amounts payable after more than one year42 | - | - | €5,227 | €4,930 | - | - | - |
| Trade debts44 | €33,358 | €7,823 | €13,677 | €31,311 | €25,784 | €7,348 | ▼ 71.5% |
| Suppliers440/4 | - | - | €13,677 | €31,311 | €25,784 | €7,348 | ▼ 71.5% |
| Taxes, remuneration and social security45 | - | - | €30,529 | €24,854 | €45,070 | €18,533 | ▼ 58.9% |
| Taxes450/3 | - | - | €28,216 | €21,981 | €44,984 | €18,533 | ▼ 58.8% |
| Remuneration and social security454/9 | - | - | €2,313 | €2,873 | €87 | - | - |
| Other amounts payable47/48 | - | - | - | €826 | €1,146 | - | - |
| Accrued charges and deferred income492/3 | - | - | €20,992 | €6,959 | €3,481 | €7,088 | ▲ 104% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,223 | €15,216 | €15,630 | €30,183 | €9,613 | €26,264 | ▲ 173% |
| + Depreciation and write-downs630 | €9,263 | €9,340 | €8,393 | €9,051 | €12,848 | €202 | ▼ 98.4% |
| Operating cash flow (approximation) | €12,485 | €24,556 | €24,024 | €39,233 | €22,461 | €26,466 | ▲ 17.8% |
| Investment in fixed assets (approximation) | - | -€3,254 | -€450 | -€22,980 | €0 | €32,684 | - |
| Change in cash | - | -€14,282 | €31,701 | -€34,061 | €41,165 | €25,117 | ▼ 39.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 25-02-2026 | 2026-00044465 | |
| 30-06-2024 | micro format | 06-02-2025 | 2025-00031360 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00019401 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00015622 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03500060 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02900580 |