BOULDER
InactiveFinancials · financial year 2025, micro format
Equity
€14▼ 99.9%
2024 · €24,826
Total assets
€304,550▼ 6.6%
2024 · €326,068
Net result
-€24,812▼ 65.4%
2024 · -€15,003
Working capital
-€166,279▼ 15.9%
2024 · -€143,445
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €13,506 in 2025 against €583 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€13,506
2025
Net result-€24,812
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€304,550
2025
Equity€14
2025
Debt€304,536
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€166,279
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1.9
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,086-€22,901▲ 998%€2,896▼ 87.4%€17,101▲ 491%-€4,945€9,284-€583-€13,506▼ 2,218%
Net result€282-€14,262▲ 51×€1,824▼ 87.2%€15,597▲ 755%-€5,601€2,865-€15,003-€24,812▼ 65.4%
Equity€10,881-€25,143▲ 131%€26,968▲ 7.3%€42,565▲ 57.8%€36,964▼ 13.2%€39,829▲ 7.8%€24,826▼ 37.7%€14▼ 99.9%
Total assets€117,595-€108,790▼ 7.5%€90,157▼ 17.1%€99,928▲ 10.8%€70,109▼ 29.8%€398,237▲ 468%€326,068▼ 18.1%€304,550▼ 6.6%
Debt€106,714-€83,647▼ 21.6%€63,189▼ 24.5%€57,363▼ 9.2%€33,145▼ 42.2%€358,408▲ 981%€301,242▼ 15.9%€304,536▲ 1.1%
Working capital-€34,509--€12,347▲ 64.2%-€20,126▼ 63.0%-€8,662▲ 57.0%-€19,025▼ 120%-€126,390▼ 564%-€143,445▼ 13.5%-€166,279▼ 15.9%
Staff (FTE)2-2.1▲ 5.0%2.1=2.3▲ 9.5%2.3=1.7▼ 26.1%2▲ 17.6%1.9▼ 5.0%
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €304,550
Fixed assets
€284,602 ▼ 8.1%
Current assets
€19,948 ▲ 22.6%
Equity and liabilities €304,550
Equity
€14 ▼ 99.9%
Debt
€304,536 ▲ 1.1%
Debt's share of the balance-sheet total rises from 92.4% to 100.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€21,611▼
2024 · €32,588
Cash flow
€10,305▼
2024 · €18,167
Current ratio
0.11▲
2024 · 0.10
Quick ratio
0.10▲
2024 · 0.09
ROA
-8.1%▼
2024 · -4.6%
Interest coverage
1.87▼
2024 · 2.26
Debt ≤ 1 year
€186,227▲
2024 · €159,712
Debt > 1 year
€118,309▼
2024 · €138,796
Staff costs
€57,650▼
2024 · €61,923
Equity ratios withheld: equity of €14 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €41,112 | €103,671 | €70,139 | €61,923 | €57,650 | ▼ 6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,425 | €8,424 | €7,698 | €7,698 | €7,812 | €12,532 | €33,170 | €35,117 | ▲ 5.9% |
| Other operating charges640/8 | - | - | - | €606 | €617 | €3,992 | €852 | €787 | ▼ 7.7% |
| Gross operating margin9900 | €74,548 | €94,472 | €51,773 | €66,518 | €107,155 | €95,948 | €95,363 | €80,048 | ▼ 16.1% |
| Operating profit (loss)9901 | €2,086 | €22,901 | €2,896 | €17,101 | -€4,945 | €9,284 | -€583 | -€13,506 | ▼ 2,218% |
| Financial income75/76B | - | - | - | €277 | €130 | €0 | €0 | €278 | ▲ 1,462× |
| Recurring financial income75 | €277 | €271 | €276 | €277 | €130 | €0 | €0 | €278 | ▲ 1,462× |
| Financial charges65/66B | - | - | - | €1,109 | €785 | €6,419 | €14,421 | €11,584 | ▼ 19.7% |
| Recurring financial charges65 | €2,081 | €1,677 | €1,348 | €1,109 | €785 | €6,419 | €14,421 | €11,584 | ▼ 19.7% |
| Profit (loss) for the period before taxes9903 | €282 | €21,495 | €1,824 | €16,269 | -€5,601 | €2,865 | -€15,003 | -€24,812 | ▼ 65.4% |
| Income taxes67/77 | - | €7,233 | - | €672 | - | - | - | - | - |
| Profit (loss) for the period9904 | €282 | €14,262 | €1,824 | €15,597 | -€5,601 | €2,865 | -€15,003 | -€24,812 | ▼ 65.4% |
| Profit (loss) for the period to be appropriated9905 | €282 | €14,262 | €1,824 | €15,597 | -€5,601 | €2,865 | -€15,003 | -€24,812 | ▼ 65.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €117,595 | €108,790 | €90,157 | €99,928 | €70,109 | €398,237 | €326,068 | €304,550 | ▼ 6.6% |
| Fixed assets21/28 | €87,679 | €79,255 | €71,557 | €63,859 | €56,990 | €325,688 | €309,801 | €284,602 | ▼ 8.1% |
| Tangible fixed assets22/27 | €82,679 | €74,255 | €66,557 | €58,859 | €56,990 | €325,688 | €309,801 | €284,602 | ▼ 8.1% |
| Plant, machinery and equipment23 | - | - | - | €58,724 | €56,990 | €63,802 | €59,215 | €59,579 | ▲ 0.6% |
| Furniture and vehicles24 | - | - | - | - | - | €632 | €1,436 | €566 | ▼ 60.6% |
| Leasing and similar rights25 | - | - | - | - | - | €227,430 | €212,136 | €196,843 | ▼ 7.2% |
| Other tangible fixed assets26 | - | - | - | €135 | - | €33,824 | €37,014 | €27,614 | ▼ 25.4% |
| Financial fixed assets28 | €5,000 | €5,000 | €5,000 | €5,000 | - | - | - | - | - |
| Current assets29/58 | €29,916 | €29,535 | €18,600 | €36,069 | €13,119 | €72,549 | €16,267 | €19,948 | ▲ 22.6% |
| Amounts receivable after more than one year29 | - | - | - | €5,385 | €246 | €246 | €246 | €246 | = |
| Other amounts receivable291 | - | - | - | €5,385 | €246 | €246 | €246 | €246 | = |
| Stocks and contracts in progress3 | - | €472 | €726 | €978 | €577 | €527 | €1,152 | €1,647 | ▲ 43.0% |
| Stocks30/36 | - | - | - | €978 | €577 | €527 | €1,152 | €1,647 | ▲ 43.0% |
| Amounts receivable within one year40/41 | €4,664 | €7,099 | €2,457 | €5,526 | €6,555 | €66,154 | €2,802 | €7,634 | ▲ 172% |
| Trade receivables40 | - | - | - | €5,254 | €5,574 | €53,526 | - | €3,261 | - |
| Other amounts receivable41 | - | - | - | €272 | €981 | €12,627 | €2,802 | €4,373 | ▲ 56.1% |
| Cash at bank and in hand54/58 | €19,444 | €16,407 | €9,759 | €24,180 | €5,742 | €5,623 | €12,054 | €10,189 | ▼ 15.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €14 | €232 | ▲ 17× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €117,595 | €108,790 | €90,157 | €99,928 | €70,109 | €398,237 | €326,068 | €304,550 | ▼ 6.6% |
| Equity10/15 | €10,881 | €25,143 | €26,968 | €42,565 | €36,964 | €39,829 | €24,826 | €14 | ▼ 99.9% |
| Contributions10/11 | €24,789 | €24,789 | - | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Reserves13 | €11,627 | €11,627 | €11,627 | €17,775 | €12,175 | €15,040 | €37 | - | - |
| Non-distributable reserves130/1 | - | - | - | €2,479 | €2,479 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,479 | €2,479 | - | - | - | - |
| Distributable reserves133 | - | - | - | €15,296 | €9,696 | €15,040 | €37 | - | - |
| Profit (loss) carried forward14 | -€25,535 | -€11,273 | -€9,449 | - | - | - | - | -€24,775 | - |
| Amounts payable17/49 | €106,714 | €83,647 | €63,189 | €57,363 | €33,145 | €358,408 | €301,242 | €304,536 | ▲ 1.1% |
| Amounts payable after more than one year17 | €41,289 | €26,165 | €18,443 | €2,672 | - | €159,469 | €138,796 | €118,309 | ▼ 14.8% |
| Financial debts170/4 | - | - | - | €2,672 | - | €159,469 | €138,796 | €118,309 | ▼ 14.8% |
| Amounts payable within one year42/48 | €64,425 | €41,882 | €38,726 | €44,731 | €32,145 | €198,939 | €159,712 | €186,227 | ▲ 16.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,772 | €2,672 | €19,033 | €20,673 | €22,255 | ▲ 7.7% |
| Financial debts43 | - | - | - | - | €310 | - | - | - | - |
| Credit institutions430/8 | - | - | - | - | €310 | - | - | - | - |
| Trade debts44 | €41,230 | €10,970 | €12,615 | €20,563 | €12,932 | €28,416 | €28,676 | €44,470 | ▲ 55.1% |
| Suppliers440/4 | - | - | - | €20,563 | €12,932 | €28,416 | €28,676 | €44,470 | ▲ 55.1% |
| Advances received on contracts in progress46 | - | - | - | - | €195 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €8,396 | €16,036 | €9,323 | €10,078 | €8,900 | ▼ 11.7% |
| Taxes450/3 | - | - | - | €744 | €72 | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | €7,653 | €15,965 | €9,323 | €10,078 | €8,900 | ▼ 11.7% |
| Other amounts payable47/48 | - | - | - | - | - | €142,167 | €100,285 | €110,602 | ▲ 10.3% |
| Accrued charges and deferred income492/3 | - | - | - | €9,960 | €1,000 | - | €2,734 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €282 | €14,262 | €1,824 | €15,597 | -€5,601 | €2,865 | -€15,003 | -€24,812 | ▼ 65.4% |
| + Depreciation and write-downs630 | €8,425 | €8,424 | €7,698 | €7,698 | €7,812 | €12,532 | €33,170 | €35,117 | ▲ 5.9% |
| Operating cash flow (approximation) | €8,707 | €22,686 | €9,522 | €23,295 | €2,212 | €15,397 | €18,167 | €10,305 | ▼ 43.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€943 | -€281,230 | -€17,283 | -€9,918 | ▲ 42.6% |
| Change in cash | - | -€3,037 | -€6,648 | €14,421 | -€18,438 | -€119 | €6,431 | -€1,865 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-06-2026 | 2026-00165300 |
| 31-12-2024 | micro format | 05-06-2025 | 2025-00124655 |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00209475 |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00212915 |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20358646 |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-60000215 |
| 31-12-2019 | abbreviated format | 31-08-2020 | 2020-48200118 |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-42400158 |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-56200250 |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-53900350 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.