Financials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00434169.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 22 filings
Turnover
€23,806▲ 0.8%
2020 · €23,613
EBIT margin
-80.4%▲ 81.2pp
2020 · -161.5%
Net result
-€3,053▲ 81.1%
2021 · -€16,137
Working capital
€12,743=
2024 · €12,743
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
no figure
2025
20182025
Net result
no figure
2025
20182025
EBIT margin
no figure
2025
20182025
Equity
€12,753
=
2025
middle half of the sector
20182025
Total assets
€26,965
=
2025
lowest quarter of the sector
20182025
Debt
€14,212
=
2025
20182025
Working capital
€12,743
=
2025
middle half of the sector
20182025
Solvency
47.3%
=
2025
middle half of the sector
20182025
Current ratio
1.90
=
2025
middle half of the sector
20182025
Return on assets (ROA)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€79,224-€50,146▼ 36.7%€23,613▼ 52.9%€23,806▲ 0.8%
Operating result-€6,817--€30,508▼ 348%-€38,145▼ 25.0%-€19,137▲ 49.8%-€3,053▲ 84.0%
Net result-€18,772--€30,508▼ 62.5%-€44,145below the sector's middle half▼ 44.7%-€16,137below the sector's middle half▲ 63.4%-€3,053within the sector's middle half▲ 81.1%
EBIT margin-8.6%--60.8%▼ 52.2pp-161.5%▼ 100.7pp-80.4%▲ 81.2pp
Equity€106,596-€76,088▼ 28.6%€31,943within the sector's middle half▼ 58.0%€15,806within the sector's middle half▼ 50.5%€12,753below the sector's middle half▼ 19.3%€12,753within the sector's middle half=€12,753within the sector's middle half=€12,753within the sector's middle half=
Total assets€145,611-€94,945▼ 34.8%€48,171below the sector's middle half▼ 49.3%€35,161below the sector's middle half▼ 27.0%€26,965below the sector's middle half▼ 23.3%€26,965below the sector's middle half=€26,965below the sector's middle half=€26,965below the sector's middle half=
Debt€39,015-€18,857▼ 51.7%€16,228▼ 13.9%€19,355▲ 19.3%€14,212▼ 26.6%€14,212=€14,212=€14,212=
Working capital€89,890-€68,701▼ 23.6%€28,302within the sector's middle half▼ 58.8%€15,222within the sector's middle half▼ 46.2%€12,743within the sector's middle half▼ 16.3%€12,743within the sector's middle half=€12,743within the sector's middle half=€12,743within the sector's middle half=
Solvency73.2%-80.1%▲ 6.9pp66.3%above the sector's middle half▼ 13.8pp45.0%within the sector's middle half▼ 21.4pp47.3%within the sector's middle half▲ 2.3pp47.3%within the sector's middle half=47.3%within the sector's middle half=47.3%within the sector's middle half=
Current ratio3.30-4.64▲ 1.342.74above the sector's middle half▼ 1.901.79within the sector's middle half▼ 0.961.90within the sector's middle half▲ 0.111.90within the sector's middle half=1.90within the sector's middle half=1.90within the sector's middle half=
Return on assets (ROA)-12.9%--32.1%▼ 19.2pp-91.6%below the sector's middle half▼ 59.5pp-45.9%below the sector's middle half▲ 45.7pp-11.3%below the sector's middle half▲ 34.6pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 2022 is a loss of €3,053, smaller than the loss of €19,137 in 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26,965
Fixed assets
€10 =
Current assets
€26,955 =
Equity and liabilities €26,965
Equity
€12,753 =
Debt
€14,212 =
Debt's share of the balance-sheet total stays at 52.7%.
Key figures and ratios
Debt to equity
1.11=
2024 · 1.11
Debt ≤ 1 year
€14,212=
2024 · €14,212
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €79,224 | €50,146 | €23,613 | €23,806 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €25,620 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €39,012 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,019 | €9,319 | €3,746 | €3,057 | €574 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €874 | €469 | - | - | - | - |
| Gross operating margin9900 | €5,838 | -€19,415 | -€32,685 | -€15,206 | -€2,010 | - | - | - | - |
| Operating profit (loss)9901 | -€6,817 | -€30,508 | -€38,145 | -€19,137 | -€3,053 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€6,317 | -€30,508 | -€38,145 | -€19,137 | -€3,053 | - | - | - | - |
| Income taxes67/77 | €12,455 | - | €6,000 | -€3,000 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€18,772 | -€30,508 | -€44,145 | -€16,137 | -€3,053 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€18,772 | -€30,508 | -€44,145 | -€16,137 | -€3,053 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €145,611 | €94,945 | €48,171 | €35,161 | €26,965 | €26,965 | €26,965 | €26,965 | = |
| Fixed assets21/28 | €16,706 | €7,387 | €3,641 | €584 | €10 | €10 | €10 | €10 | = |
| Tangible fixed assets22/27 | €16,696 | €7,377 | €3,631 | €574 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €574 | - | - | - | - | - |
| Financial fixed assets28 | €10 | €10 | €10 | €10 | €10 | €10 | €10 | €10 | = |
| Current assets29/58 | €128,905 | €87,558 | €44,530 | €34,577 | €26,955 | €26,955 | €26,955 | €26,955 | = |
| Amounts receivable within one year40/41 | €20,129 | €9,455 | €3,849 | €4,957 | €226 | €226 | €226 | €226 | = |
| Trade receivables40 | - | - | - | €3,270 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €1,687 | €226 | €226 | €226 | €226 | = |
| Current investments50/53 | - | €78,103 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €108,776 | - | €40,681 | €29,620 | €26,729 | €26,729 | €26,729 | €26,729 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €145,611 | €94,945 | €48,171 | €35,161 | €26,965 | €26,965 | €26,965 | €26,965 | = |
| Equity10/15 | €106,596 | €76,088 | €31,943 | €15,806 | €12,753 | €12,753 | €12,753 | €12,753 | = |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €87,996 | €57,488 | €13,343 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | - | - | - | -€4,654 | -€7,707 | -€7,707 | -€7,707 | -€7,707 | = |
| Amounts payable17/49 | €39,015 | €18,857 | €16,228 | €19,355 | €14,212 | €14,212 | €14,212 | €14,212 | = |
| Amounts payable within one year42/48 | €39,015 | €18,857 | €16,228 | €19,355 | €14,212 | €14,212 | €14,212 | €14,212 | = |
| Trade debts44 | €9,232 | €4,075 | €6,049 | €2,510 | €2,479 | €2,479 | €2,479 | €2,479 | = |
| Suppliers440/4 | - | - | - | €2,510 | €2,479 | €2,479 | €2,479 | €2,479 | = |
| Taxes, remuneration and social security45 | - | - | - | €3,910 | €4,146 | €4,146 | €4,146 | €4,146 | = |
| Taxes450/3 | - | - | - | €3,910 | €4,146 | €4,146 | €4,146 | €4,146 | = |
| Other amounts payable47/48 | - | - | - | €12,935 | €7,587 | €7,587 | €7,587 | €7,587 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,772 | -€30,508 | -€44,145 | -€16,137 | -€3,053 | - | - | - | - |
| + Depreciation and write-downs630 | €11,019 | €9,319 | €3,746 | €3,057 | €574 | - | - | - | - |
| Operating cash flow (approximation) | -€7,753 | -€21,189 | -€40,399 | -€13,080 | -€2,479 | - | - | - | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | - | -€11,061 | -€2,891 | €0 | €0 | €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.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00434169 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00186391 | |
| 31-12-2023 | micro format | 07-10-2024 | 2024-00496609 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00189736 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20367894 | |
| 31-12-2020 | micro format | 01-07-2021 | 2021-28900197 | |
| 31-12-2019 | micro format | 30-06-2020 | 2020-23300546 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-53100518 | |
| 31-12-2017 | micro format | 01-07-2018 | 2018-26900566 | |
| 31-12-2016 | micro format | 21-06-2017 | 2017-19300428 |