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ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476893.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 7 filings
Amounts without an identifiable currency are taken as euros.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€78,089▲ 68.4%
2024 · -€247,503
Working capital
-€97,609
2024 · €171,497
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a loss of €57,566, larger than the loss of €14,047 in 2024.
Operating result-€0.06m
2025
Net result-€0.08m
2025
Total assets€1.5m
2025
Equity€1.2m
2025
Debt€0.3m
2025
Working capital-€0.1m
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.05m--€0.07m▼ 43.2%-€0.2m▼ 220%-€0.06m▲ 75.4%-€0.02m▲ 73.0%-€0.01m▲ 10.7%-€0.06m▼ 310%
Net result-€0.05m--€0.07m▼ 39.3%-€0.2m▼ 234%-€0.3m▼ 6.7%-€0.1m▲ 51.6%-€0.2m▼ 103%-€0.08m▲ 68.4%
Equity€0.2m-€0.9m▲ 341%€1.2m▲ 41.5%€1.5m▲ 17.6%€1.5m▲ 6.0%€1.3m▼ 16.0%€1.2m▼ 6.0%
Total assets€0.2m-€0.9m▲ 314%€1.3m▲ 36.9%€1.6m▲ 22.4%€1.6m▼ 2.1%€1.4m▼ 8.6%€1.5m▲ 5.6%
Debt€0.03m-€0.07m▲ 130%€0.05m▼ 22.9%€0.1m▲ 138%€0.003m▼ 97.6%€0.1m▲ 39×€0.3m▲ 135%
Working capital€0.03m-€0.3m▲ 657%€0.4m▲ 47.4%€0.3m▼ 33.8%€0.4m▲ 54.1%€0.2m▼ 56.7%-€0.1m
Large changes and their cause
- 2025 Net result +68% on 2024. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.3m ▲ 17.3%
Current assets
€177,179 ▼ 38.6%
Equity and liabilities €1.5m
Equity
€1.2m ▼ 6.0%
Debt
€274,788 ▲ 135%
Debt's share of the balance-sheet total rises from 8.2% to 18.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€54,235▼
2024 · -€9,753
Cash flow
-€74,758▲
2024 · -€243,210
Current ratio
0.64▼
2024 · 2.46
Debt to equity
0.22▲
2024 · 0.09
ROE
-6.4%▲
2024 · -19.0%
ROA
-5.2%▲
2024 · -17.4%
Interest coverage
-2.58▲
2024 · -15.42
Debt ≤ 1 year
€274,788▲
2024 · €117,069
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €233,684 | €505,450 | €51,413 | €214,909 | €194,347 |
| Depreciation and write-downs of the year | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €63,421 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,648 | €3,612 | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 | ▼ 22.4% |
| Other operating charges640/8 | - | - | €410 | €930 | €1,022 | €1,030 | €6,204 | ▲ 503% |
| Gross operating margin9900 | -€48,679 | -€69,975 | -€232,022 | -€50,769 | -€7,758 | -€8,724 | -€48,031 | ▼ 451% |
| Operating profit (loss)9901 | -€51,675 | -€73,996 | -€236,909 | -€58,305 | -€15,723 | -€14,047 | -€57,566 | ▼ 310% |
| Financial income75/76B | - | - | €5,897 | €24,222 | €5,041 | €673 | €479 | ▼ 28.8% |
| Recurring financial income75 | €1,264 | €4,027 | €5,897 | €24,222 | €5,041 | €673 | €479 | ▼ 28.8% |
| Financial charges65/66B | - | - | €4,635 | €217,410 | €111,002 | €234,129 | €21,002 | ▼ 91.0% |
| Recurring financial charges65 | €319 | €687 | €4,635 | €161,144 | €15,714 | €633 | €21,002 | ▲ 33× |
| Non-recurring financial charges66B | - | - | - | €56,266 | €95,288 | €233,497 | - | - |
| Profit (loss) for the period before taxes9903 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,684 | -€247,503 | -€78,089 | ▲ 68.4% |
| Income taxes67/77 | €0 | €0 | - | - | €28 | - | - | - |
| Profit (loss) for the period9904 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| Profit (loss) for the period to be appropriated9905 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.2m | €0.9m | €1.3m | €1.6m | €1.6m | €1.4m | €1.5m | ▲ 5.6% |
| Formation expenses20 | €0.01m | €0.02m | €0.02m | €0.02m | €0.01m | €0.006m | €0.003m | ▼ 54.3% |
| Fixed assets21/28 | €0.2m | €0.6m | €0.8m | €1.2m | €1.1m | €1.1m | €1.3m | ▲ 17.3% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - | - | - |
| Financial fixed assets28 | €0.2m | €0.6m | €0.8m | €1.2m | €1.1m | €1.1m | €1.3m | ▲ 17.3% |
| Current assets29/58 | €0.06m | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 38.6% |
| Amounts receivable after more than one year29 | - | - | €0.1m | €0.08m | - | - | - | - |
| Trade receivables290 | - | - | €0.1m | €0.08m | - | - | - | - |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.001m | €0.004m | €0.04m | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 30.9% |
| Trade receivables40 | - | - | €0.03m | €0.03m | €0.1m | €0.04m | €0.01m | ▼ 73.4% |
| Other amounts receivable41 | - | - | €0.003m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 20.6% |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.2m | €0.3m | €0.04m | €0.1m | €0.09m | €0.04m | ▼ 56.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.005m | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.2m | €0.9m | €1.3m | €1.6m | €1.6m | €1.4m | €1.5m | ▲ 5.6% |
| Equity10/15 | €0.2m | €0.9m | €1.2m | €1.5m | €1.5m | €1.3m | €1.2m | ▼ 6.0% |
| Contributions10/11 | €0.3m | €1.0m | €1.6m | €2.1m | €2.3m | €2.3m | €2.3m | = |
| Capital10 | - | - | €1.6m | €2.1m | €2.3m | €2.3m | €2.3m | = |
| Issued capital100 | - | - | €2.0m | €2.3m | €2.3m | €2.3m | €2.3m | = |
| Uncalled capital101 | - | - | €0.4m | €0.2m | - | - | - | - |
| Profit (loss) carried forward14 | -€0.05m | -€0.1m | -€0.4m | -€0.6m | -€0.7m | -€1.0m | -€1.1m | ▼ 8.0% |
| Amounts payable17/49 | €0.03m | €0.07m | €0.05m | €0.1m | €0.003m | €0.1m | €0.3m | ▲ 135% |
| Amounts payable within one year42/48 | €0.03m | €0.07m | €0.05m | €0.1m | €0.003m | €0.1m | €0.3m | ▲ 135% |
| Trade debts44 | €0.03m | €0.002m | €0.03m | €0.07m | - | €0.004m | €0.01m | ▲ 269% |
| Suppliers440/4 | - | - | €0.03m | €0.07m | - | €0.004m | €0.01m | ▲ 269% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.03m | - |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €0.004m | - |
| Taxes450/3 | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | €0.02m | €0.06m | €0.003m | €0.1m | €0.2m | ▲ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| + Depreciation and write-downs630 | €2,648 | €3,612 | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 | ▼ 22.4% |
| Operating cash flow (approximation) | -€48,081 | -€67,044 | -€231,168 | -€244,887 | -€114,770 | -€243,210 | -€74,758 | ▲ 69.3% |
| Investment in fixed assets (approximation) | - | -€451,573 | -€238,162 | -€360,790 | €36,933 | €14,294 | -€197,678 | - |
| Change in cash | - | €204,987 | €64,497 | -€243,748 | €70,114 | -€19,810 | -€49,644 | ▼ 151% |
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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00476893 | |
| 31-12-2024 | abbreviated format | 28-08-2025 | 2025-00425993 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00417652 | |
| 31-12-2022 | abbreviated format | 13-07-2023 | 2023-00233028 | |
| 31-12-2021 | abbreviated format | 12-07-2022 | 2022-20174889 | |
| 31-12-2020 | abbreviated format | 16-07-2021 | 2021-37300012 | |
| 31-12-2019 | abbreviated format | 14-07-2020 | 2020-30400399 |