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ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 30 April 2026 The financial year closed on 30 September 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 02-06-2025 PDF all 13 filings
Turnover
≈ €98,000
Estimated: probably between €57,000 and €130,000
Total assets
€268,879▼ 14.9%
2023 · €316,012
Net result
€6,149▲ 219%
2023 · €1,926
Working capital
€10,688▲ 656%
2023 · €1,413
Multi-year overview
2019 to 2024, 6 financial yearsOperating result
€11,543
▲ 63.8%
2024
20192024
Net result
€6,149
▲ 219%
2024
middle half of the sector
20192024
Equity
€86,088
▲ 7.7%
2024
middle half of the sector
20192024
Total assets
€268,879
▼ 14.9%
2024
middle half of the sector
20192024
Debt
€182,791
▼ 22.6%
2024
20192024
Working capital
€10,688
▲ 656%
2024
middle half of the sector
20192024
Solvency
32.0%
▲ 6.7pp
2024
middle half of the sector
20192024
Current ratio
1.08
▲ 0.08
2024
middle half of the sector
20192024
Return on assets (ROA)
2.3%
▲ 1.7pp
2024
middle half of the sector
20192024
Staff (FTE)
no figure
2024
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€9,839-€3,183▼ 67.6%€5,566▲ 74.8%€5,269▼ 5.3%€7,047▲ 33.7%€11,543▲ 63.8%
Net result€130-€252below the sector's middle half▲ 94.3%€337below the sector's middle half▲ 33.9%€901below the sector's middle half▲ 167%€1,926below the sector's middle half▲ 114%€6,149within the sector's middle half▲ 219%
Equity€76,524-€76,776within the sector's middle half▲ 0.3%€77,113within the sector's middle half▲ 0.4%€78,014within the sector's middle half▲ 1.2%€79,939within the sector's middle half▲ 2.5%€86,088within the sector's middle half▲ 7.7%
Total assets€329,577-€317,444within the sector's middle half▼ 3.7%€291,820within the sector's middle half▼ 8.1%€307,592within the sector's middle half▲ 5.4%€316,012within the sector's middle half▲ 2.7%€268,879within the sector's middle half▼ 14.9%
Debt€253,053-€240,668▼ 4.9%€214,707▼ 10.8%€229,579▲ 6.9%€236,073▲ 2.8%€182,791▼ 22.6%
Working capital-€6,635--€9,972below the sector's middle half▼ 50.3%-€3,619below the sector's middle half▲ 63.7%-€5,768below the sector's middle half▼ 59.4%€1,413within the sector's middle half€10,688within the sector's middle half▲ 656%
Solvency23.2%-24.2%within the sector's middle half▲ 1.0pp26.4%within the sector's middle half▲ 2.2pp25.4%below the sector's middle half▼ 1.1pp25.3%below the sector's middle half▼ 0.1pp32.0%within the sector's middle half▲ 6.7pp
Current ratio0.94-0.92below the sector's middle half▼ 0.020.97below the sector's middle half▲ 0.050.96below the sector's middle half▼ 0.011.01below the sector's middle half▲ 0.051.08within the sector's middle half▲ 0.08
Return on assets (ROA)0.0%-0.1%below the sector's middle half=0.1%below the sector's middle half=0.3%below the sector's middle half▲ 0.2pp0.6%below the sector's middle half▲ 0.3pp2.3%within the sector's middle half▲ 1.7pp
Staff (FTE)0.5-0.5below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 2024 is 64% higher than in 2023 and the highest since 2020. It is the second rise in a row, after the fall in 2022.
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
2024 in colour, 2023 as the grey bar beneath
Assets €268,879
Fixed assets
€131,114 ▼ 11.0%
Current assets
€137,765 ▼ 18.4%
Equity and liabilities €268,879
Equity
€86,088 ▲ 7.7%
Debt
€182,791 ▼ 22.6%
Debt's share of the balance-sheet total falls from 74.7% to 68.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30,082▲
2023 · €25,303
Cash flow
€24,688▲
2023 · €20,181
Debt to equity
2.12▼
2023 · 2.95
ROE
7.1%▲
2023 · 2.4%
Interest coverage
11.05▲
2023 · 7.69
Debt ≤ 1 year
€127,078▼
2023 · €167,318
Debt > 1 year
€55,713▼
2023 · €68,755
Income taxes
€2,681▲
2023 · €1,831
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | €1,381 | - | €2,372 |
| Depreciation and write-downs of the year | €17,891 | €18,256 | €18,256 | €18,539 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €85 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,945 | €23,871 | €17,891 | €18,256 | €18,256 | €18,539 | ▲ 1.6% |
| Other operating charges640/8 | - | - | €2,985 | €3,252 | €3,976 | €3,409 | ▼ 14.3% |
| Gross operating margin9900 | €50,493 | €44,617 | €26,527 | €26,776 | €29,279 | €33,492 | ▲ 14.4% |
| Operating profit (loss)9901 | €9,839 | €3,183 | €5,566 | €5,269 | €7,047 | €11,543 | ▲ 63.8% |
| Financial income75/76B | - | - | - | - | - | €9 | - |
| Recurring financial income75 | - | €2,573 | - | - | - | €9 | - |
| Financial charges65/66B | - | - | €4,415 | €3,225 | €3,291 | €2,722 | ▼ 17.3% |
| Recurring financial charges65 | €7,924 | €4,049 | €4,415 | €3,225 | €3,291 | €2,722 | ▼ 17.3% |
| Profit (loss) for the period before taxes9903 | €1,916 | €1,427 | €1,151 | €2,044 | €3,756 | €8,830 | ▲ 135% |
| Income taxes67/77 | €1,786 | €1,175 | €814 | €1,143 | €1,831 | €2,681 | ▲ 46.4% |
| Profit (loss) for the period9904 | €130 | €252 | €337 | €901 | €1,926 | €6,149 | ▲ 219% |
| Profit (loss) for the period to be appropriated9905 | €130 | €252 | €337 | €901 | €1,926 | €6,149 | ▲ 219% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €329,577 | €317,444 | €291,820 | €307,592 | €316,012 | €268,879 | ▼ 14.9% |
| Fixed assets21/28 | €224,373 | €200,503 | €182,612 | €165,537 | €147,281 | €131,114 | ▼ 11.0% |
| Tangible fixed assets22/27 | €224,173 | €200,303 | €182,412 | €165,537 | €147,281 | €131,114 | ▼ 11.0% |
| Land and buildings22 | - | - | €182,412 | €164,616 | €146,821 | €129,025 | ▼ 12.1% |
| Furniture and vehicles24 | - | - | - | €920 | €460 | €2,088 | ▲ 354% |
| Financial fixed assets28 | €200 | €200 | €200 | - | - | - | - |
| Current assets29/58 | €105,204 | €116,942 | €109,209 | €142,056 | €168,732 | €137,765 | ▼ 18.4% |
| Stocks and contracts in progress3 | €10,000 | €16,000 | - | €7,000 | - | - | - |
| Contracts in progress37 | - | - | - | €7,000 | - | - | - |
| Amounts receivable within one year40/41 | €78,165 | €81,113 | €91,095 | €110,965 | €137,325 | €94,545 | ▼ 31.2% |
| Trade receivables40 | - | - | €89,956 | €110,723 | €137,083 | €93,488 | ▼ 31.8% |
| Other amounts receivable41 | - | - | €1,139 | €242 | €242 | €1,057 | ▲ 336% |
| Cash at bank and in hand54/58 | €3,011 | €6,456 | €4,741 | €10,718 | €18,034 | €43,221 | ▲ 140% |
| Deferred charges and accrued income490/1 | - | - | €13,373 | €13,373 | €13,373 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €329,577 | €317,444 | €291,820 | €307,592 | €316,012 | €268,879 | ▼ 14.9% |
| Equity10/15 | €76,524 | €76,776 | €77,113 | €78,014 | €79,939 | €86,088 | ▲ 7.7% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €70,195 | €70,195 | €70,576 | €70,913 | €70,913 | €70,913 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €16,200 | €16,200 | €16,200 | €16,200 | = |
| Distributable reserves133 | - | - | €52,516 | €52,853 | €52,853 | €52,853 | = |
| Profit (loss) carried forward14 | €130 | €381 | €337 | €901 | €2,826 | €8,976 | ▲ 218% |
| Amounts payable17/49 | €253,053 | €240,668 | €214,707 | €229,579 | €236,073 | €182,791 | ▼ 22.6% |
| Amounts payable after more than one year17 | €140,254 | €113,754 | €101,880 | €81,755 | €68,755 | €55,713 | ▼ 19.0% |
| Financial debts170/4 | - | - | €101,880 | €81,755 | €68,755 | €55,713 | ▼ 19.0% |
| Amounts payable within one year42/48 | €111,838 | €126,914 | €112,828 | €147,824 | €167,318 | €127,078 | ▼ 24.1% |
| Current portion of amounts payable after more than one year42 | - | - | €11,875 | €13,000 | €12,437 | €12,479 | ▲ 0.3% |
| Trade debts44 | €2,685 | €6,550 | €3,342 | €9,749 | €20,258 | €21,713 | ▲ 7.2% |
| Suppliers440/4 | - | - | €3,342 | €9,749 | €20,258 | €21,713 | ▲ 7.2% |
| Taxes, remuneration and social security45 | - | - | €1,989 | €5,544 | €11,900 | €12,177 | ▲ 2.3% |
| Taxes450/3 | - | - | €1,989 | €5,544 | €11,900 | €12,177 | ▲ 2.3% |
| Other amounts payable47/48 | - | - | €95,621 | €119,530 | €122,723 | €80,708 | ▼ 34.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €130 | €252 | €337 | €901 | €1,926 | €6,149 | ▲ 219% |
| + Depreciation and write-downs630 | €23,945 | €23,871 | €17,891 | €18,256 | €18,256 | €18,539 | ▲ 1.6% |
| Operating cash flow (approximation) | €24,074 | €24,122 | €18,228 | €19,157 | €20,181 | €24,688 | ▲ 22.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,181 | €0 | -€2,372 | - |
| Change in cash | - | €3,445 | -€1,716 | €5,977 | €7,316 | €25,187 | ▲ 244% |
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 |
|---|---|---|---|---|
| 30-09-2024 | micro format | 02-06-2025 | 2025-00113047 | |
| 30-09-2023 | micro format | 23-05-2024 | 2024-00093804 | |
| 30-09-2022 | micro format | 30-05-2023 | 2023-00097477 | |
| 30-09-2021 | micro format | 23-05-2022 | 2022-20031848 | |
| 30-09-2020 | micro format | 30-06-2021 | 2021-27000030 | |
| 30-09-2019 | micro format | 29-05-2020 | 2020-13400469 | |
| 30-09-2018 | micro format | 31-05-2019 | 2019-15200065 | |
| 30-09-2017 | micro format | 31-05-2018 | 2018-14500104 | |
| 30-09-2016 | abbreviated format | 02-05-2017 | 2017-10500270 | |
| 30-09-2015 | abbreviated format | 19-04-2016 | 2016-10100214 |