Capital knowledge
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 13 filings
Turnover
€956,224▲ 37.5%
2024 · €695,253
EBIT margin
-2.8%▲ 12.0pp
2024 · -14.8%
Net result
-€10,146
2024 · €599,166
Working capital
€818,363▼ 1.2%
2024 · €828,510
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€956,224
▲ 37.5%
2025
20182025
Operating result
-€26,321
▲ 74.4%
2025
20182025
Net result
-€10,146
2025
middle half of the sector
20182025
EBIT margin
-2.8%
▲ 12.0pp
2025
20182025
Equity
€1.9m
▼ 0.5%
2025
highest quarter of the sector
20182025
Total assets
€2.1m
▲ 2.5%
2025
middle half of the sector
20182025
Debt
€185,474
▲ 49.7%
2025
20182025
Working capital
€818,363
▼ 1.2%
2025
middle half of the sector
20182025
Solvency
91.3%
▼ 2.7pp
2025
highest quarter of the sector
20182025
Current ratio
5.41
▼ 2.27
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.5%
▼ 29.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m-€0.2m▲ 22.4%€0.2m▼ 5.1%€0.2m▲ 11.8%€0.2m▼ 22.6%€0.8m▲ 322%€0.7m▼ 10.4%€1.0m▲ 37.5%
Operating result€0.001m-€0.002m▲ 121%€0.007m▲ 227%-€0.001m-€0.04m▼ 4,658%-€0.03m▲ 16.2%-€0.1m▼ 243%-€0.03m▲ 74.4%
Net result€0.3m-€0.2m▼ 35.3%€0.001mwithin the sector's middle half▼ 99.6%€0.6mabove the sector's middle half▲ 708×€0.4mabove the sector's middle half▼ 30.4%€0.6mabove the sector's middle half▲ 53.1%€0.6mabove the sector's middle half▼ 5.4%-€0.01mwithin the sector's middle half
EBIT margin0.6%-1.0%▲ 0.4pp3.5%▲ 2.5pp-0.3%▼ 3.8pp-19.4%▼ 19.1pp-3.9%▲ 15.5pp-14.8%▼ 10.9pp-2.8%▲ 12.0pp
Equity€0.7m-€0.9m▲ 26.1%€0.9mabove the sector's middle half▲ 0.1%€1.2mabove the sector's middle half▲ 32.0%€1.3mabove the sector's middle half▲ 9.4%€1.7mabove the sector's middle half▲ 25.1%€2.0mabove the sector's middle half▲ 18.0%€1.9mabove the sector's middle half▼ 0.5%
Total assets€1.0m-€1.1m▲ 7.2%€1.4mabove the sector's middle half▲ 24.4%€1.3mwithin the sector's middle half▼ 3.0%€1.4mwithin the sector's middle half▲ 5.3%€1.8mabove the sector's middle half▲ 29.1%€2.1mabove the sector's middle half▲ 15.8%€2.1mwithin the sector's middle half▲ 2.5%
Debt€0.3m-€0.2m▼ 39.5%€0.4m▲ 150%€0.1m▼ 75.1%€0.07m▼ 39.8%€0.1m▲ 108%€0.1m▼ 10.7%€0.2m▲ 49.7%
Working capital-€0.2m--€0.08m▲ 64.0%-€0.3mbelow the sector's middle half▼ 287%-€0.02mbelow the sector's middle half▲ 94.4%€0.1mwithin the sector's middle half€0.5mabove the sector's middle half▲ 396%€0.8mabove the sector's middle half▲ 72.9%€0.8mwithin the sector's middle half▼ 1.2%
Solvency71.2%-83.8%▲ 12.5pp67.4%within the sector's middle half▼ 16.4pp91.6%above the sector's middle half▲ 24.3pp95.2%above the sector's middle half▲ 3.6pp92.3%above the sector's middle half▼ 2.9pp94.1%above the sector's middle half▲ 1.8pp91.3%above the sector's middle half▼ 2.7pp
Current ratio0.26-0.56▲ 0.300.31below the sector's middle half▼ 0.240.85below the sector's middle half▲ 0.532.45within the sector's middle half▲ 1.604.45above the sector's middle half▲ 2.007.69above the sector's middle half▲ 3.235.41above the sector's middle half▼ 2.27
Return on assets (ROA)28.7%-17.3%▼ 11.4pp0.1%within the sector's middle half▼ 17.3pp44.9%above the sector's middle half▲ 44.8pp29.7%above the sector's middle half▼ 15.2pp35.2%above the sector's middle half▲ 5.5pp28.8%above the sector's middle half▼ 6.4pp-0.5%within the sector's middle half▼ 29.2pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 €26,321, smaller than the loss of €102,715 in 2024.
Large changes and their cause
- 2023 Turnover +322%, Net result +53% on 2022. Merger absorbing Inforoad, effective 31-07-2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€1.1m =
Current assets
€1.0m ▲ 5.4%
Equity and liabilities €2.1m
Equity
€1.9m ▼ 0.5%
Debt
€185,474 ▲ 49.7%
Debt's share of the balance-sheet total rises from 5.9% to 8.7%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.10▲
2024 · 0.06
ROE
-0.5%▼
2024 · 30.6%
Debt ≤ 1 year
€185,474▲
2024 · €123,933
Customer credit
57 days▼
2024 · 68 days
Supplier credit
69 days▲
2024 · 55 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,073 | - | - |
| Financial fixed assets | €5,280 | - | €12,400 | - | - |
| Depreciation and write-downs of the year | - | - | €357 | €138 | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €182,960 | €224,022 | €212,701 | €237,700 | €183,972 | €775,705 | €695,253 | €956,224 | ▲ 37.5% |
| Non-recurring operating income76A | - | - | - | - | - | - | €30,590 | €3,419 | ▼ 88.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €239,336 | €218,305 | €800,470 | €828,843 | €984,773 | ▲ 18.8% |
| Remuneration, social security and pensions62 | - | - | - | €25 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €357 | €138 | - | - |
| Other operating charges640/8 | - | - | - | €1,284 | €1,346 | €6,038 | €1,437 | €1,191 | ▼ 17.1% |
| Gross operating margin9900 | - | - | €8,863 | €559 | -€34,333 | -€23,512 | -€101,140 | -€25,130 | ▲ 75.2% |
| Operating profit (loss)9901 | €1,018 | €2,253 | €7,363 | -€750 | -€35,679 | -€29,907 | -€102,715 | -€26,321 | ▲ 74.4% |
| Financial income75/76B | - | - | - | €600,000 | €450,074 | €663,126 | €702,508 | €16,805 | ▼ 97.6% |
| Recurring financial income75 | €315,090 | €197,000 | - | €600,000 | €450,074 | €463,694 | €502,508 | €16,805 | ▼ 96.7% |
| Non-recurring financial income76B | - | - | - | - | - | €199,432 | €200,000 | - | - |
| Financial charges65/66B | - | - | - | €4,946 | €744 | €955 | €627 | €630 | ▲ 0.5% |
| Recurring financial charges65 | €22,626 | €9,349 | €6,524 | €4,946 | €744 | €955 | €627 | €630 | ▲ 0.5% |
| Debt charges650 | €22,436 | €9,144 | - | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €293,481 | €189,904 | €839 | €594,304 | €413,650 | €632,264 | €599,166 | -€10,146 | - |
| Income taxes67/77 | - | - | - | - | €14 | -€889 | - | - | - |
| Profit (loss) for the period9904 | €293,481 | €189,904 | €839 | €594,304 | €413,636 | €633,153 | €599,166 | -€10,146 | - |
| Profit (loss) for the period to be appropriated9905 | €293,481 | €189,904 | €839 | €594,304 | €413,636 | €633,153 | €599,166 | -€10,146 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.1m | €1.4m | €1.3m | €1.4m | €1.8m | €2.1m | €2.1m | ▲ 2.5% |
| Fixed assets21/28 | €0.9m | €1.0m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | = |
| Tangible fixed assets22/27 | - | - | - | - | - | €138 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | - | - | €138 | - | - | - |
| Financial fixed assets28 | €0.9m | €1.0m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | = |
| Current assets29/58 | €0.08m | €0.1m | €0.1m | €0.09m | €0.2m | €0.6m | €1.0m | €1.0m | ▲ 5.4% |
| Amounts receivable within one year40/41 | €0.07m | €0.09m | €0.1m | €0.08m | €0.2m | €0.6m | €0.9m | €1.0m | ▲ 5.4% |
| Trade receivables40 | - | - | - | €0.08m | €0.01m | €0.2m | €0.1m | €0.1m | ▲ 16.1% |
| Other amounts receivable41 | - | - | - | €14 | €0.1m | €0.4m | €0.8m | €0.8m | ▲ 3.7% |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.01m | €0.01m | €0.005m | €0.008m | €0.005m | €0.005m | ▲ 0.3% |
| Deferred charges and accrued income490/1 | - | - | - | €36 | €36 | €36 | - | €52 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.1m | €1.4m | €1.3m | €1.4m | €1.8m | €2.1m | €2.1m | ▲ 2.5% |
| Equity10/15 | €0.7m | €0.9m | €0.9m | €1.2m | €1.3m | €1.7m | €2.0m | €1.9m | ▼ 0.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.7m | €0.9m | €0.9m | €1.2m | €1.3m | €1.6m | €1.9m | €1.9m | ▼ 0.6% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €1.1m | €1.3m | €1.6m | €1.9m | €1.9m | ▼ 0.6% |
| Profit (loss) carried forward14 | €0.002m | €0.001m | €0.002m | €0.002m | €0.001m | €345 | €0.001m | €0.001m | ▲ 167% |
| Amounts payable17/49 | €0.3m | €0.2m | €0.4m | €0.1m | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 49.7% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.4m | €0.1m | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 49.7% |
| Trade debts44 | €0.06m | €0.09m | €0.09m | €0.08m | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 49.7% |
| Suppliers440/4 | - | - | - | €0.08m | €0.07m | €0.1m | €0.1m | €0.2m | ▲ 49.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | - | €0.01m | - | - | - |
| Taxes450/3 | - | - | - | €0.001m | - | €0.01m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.03m | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €293,481 | €189,904 | €839 | €594,304 | €413,636 | €633,153 | €599,166 | -€10,146 | - |
| + Depreciation and write-downs630 | - | - | - | - | - | €357 | €138 | - | - |
| Operating cash flow (approximation) | €293,481 | €189,904 | €839 | €594,304 | €413,636 | €633,510 | €599,304 | -€10,146 | - |
| Investment in fixed assets (approximation) | - | -€49,600 | -€227,921 | -€5,280 | €0 | €49,104 | €50,000 | €0 | ▼ 100% |
| Change in cash | - | -€128 | €128 | €101 | -€5,000 | €2,695 | -€2,696 | €15 | - |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00350939 | |
| 31-12-2024 | abbreviated format | 22-08-2025 | 2025-00406844 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00259270 | |
| 31-12-2022 | abbreviated format | 07-09-2023 | 2023-00443864 | |
| 31-12-2021 | abbreviated format | 01-08-2022 | 2022-20267133 | |
| 31-12-2020 | abbreviated format | 29-07-2021 | 2021-43100196 | |
| 31-12-2019 | full format | 09-07-2020 | 2020-28000592 | |
| 31-12-2018 | full format | 20-06-2019 | 2019-20700400 | |
| 31-12-2017 | full format | 13-07-2018 | 2018-33200139 | |
| 31-12-2016 | full format | 03-07-2017 | 2017-26500339 |