Correct Construct
ActiveFinancials · financial year 2025, micro 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, 2026-00461632.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 6 filings
Equity
-€41,513▼ 22.3%
2024 · -€33,950
Net result
-€7,562▼ 83.3%
2024 · -€4,126
Total assets
€106,039▲ 11.4%
2024 · €95,170
Solvency
-39.1%▼ 3.5pp
2024 · -35.7%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€7,374
▼ 82.0%
2025
20202025
Net result
-€7,562
▼ 83.3%
2025
lowest quarter of the sector
20202025
Equity
-€41,513
▼ 22.3%
2025
lowest quarter of the sector
20202025
Total assets
€106,039
▲ 11.4%
2025
lowest quarter of the sector
20202025
Debt
€147,551
▲ 14.3%
2025
20202025
Working capital
-€41,513
▼ 22.3%
2025
lowest quarter of the sector
20202025
Solvency
-39.1%
▼ 3.5pp
2025
lowest quarter of the sector
20202025
Current ratio
0.72
▼ 0.02
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-7.1%
▼ 2.8pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€23,421-€7,667▼ 67.3%€13,007▲ 69.6%-€64,171-€4,052▲ 93.7%-€7,374▼ 82.0%
Net result€13,108within the sector's middle half-€1,669below the sector's middle half▼ 87.3%€8,476within the sector's middle half▲ 408%-€63,077below the sector's middle half-€4,126below the sector's middle half▲ 93.5%-€7,562below the sector's middle half▼ 83.3%
Equity€23,108below the sector's middle half-€24,777below the sector's middle half▲ 7.2%€33,253below the sector's middle half▲ 34.2%-€29,824below the sector's middle half-€33,950below the sector's middle half▼ 13.8%-€41,513below the sector's middle half▼ 22.3%
Total assets€384,125within the sector's middle half-€293,567within the sector's middle half▼ 23.6%€161,930within the sector's middle half▼ 44.8%€130,208within the sector's middle half▼ 19.6%€95,170below the sector's middle half▼ 26.9%€106,039below the sector's middle half▲ 11.4%
Debt€361,017-€268,790▼ 25.5%€128,677▼ 52.1%€160,032▲ 24.4%€129,120▼ 19.3%€147,551▲ 14.3%
Working capital€23,108within the sector's middle half-€24,777within the sector's middle half▲ 7.2%€33,253within the sector's middle half▲ 34.2%-€29,824below the sector's middle half-€33,950below the sector's middle half▼ 13.8%-€41,513below the sector's middle half▼ 22.3%
Solvency6.0%below the sector's middle half-8.4%below the sector's middle half▲ 2.4pp20.5%below the sector's middle half▲ 12.1pp-22.9%below the sector's middle half▼ 43.4pp-35.7%below the sector's middle half▼ 12.8pp-39.1%below the sector's middle half▼ 3.5pp
Current ratio1.06within the sector's middle half-1.09within the sector's middle half▲ 0.031.26within the sector's middle half▲ 0.170.81within the sector's middle half▼ 0.440.74within the sector's middle half▼ 0.080.72below the sector's middle half▼ 0.02
Return on assets (ROA)3.4%within the sector's middle half-0.6%below the sector's middle half▼ 2.8pp5.2%within the sector's middle half▲ 4.7pp-48.4%below the sector's middle half▼ 53.7pp-4.3%below the sector's middle half▲ 44.1pp-7.1%below the sector's middle half▼ 2.8pp
Staff (FTE)11=0.7▼ 30.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 €7,374, larger than the loss of €4,052 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Debt ≤ 1 year
€147,551▲
2024 · €129,120
Income taxes
€61
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 1 | 1 | 0.7 |
| On a permanent contract | 1 | 1 | - |
| Joined | - | - | 0 |
| Left | - | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €40,332 | €48,163 | €40,039 | - | - | - |
| Other operating charges640/8 | - | €2,081 | €460 | €80 | €2,803 | €1,282 | ▼ 54.3% |
| Gross operating margin9900 | €24,412 | €50,080 | €61,630 | -€24,051 | -€1,249 | -€6,092 | ▼ 388% |
| Operating profit (loss)9901 | €23,421 | €7,667 | €13,007 | -€64,171 | -€4,052 | -€7,374 | ▼ 82.0% |
| Financial income75/76B | - | €2 | €147 | €2,639 | - | €27 | - |
| Recurring financial income75 | - | €2 | €147 | €2,639 | - | €27 | - |
| Financial charges65/66B | - | €5,292 | €2,196 | €1,545 | €74 | €155 | ▲ 108% |
| Recurring financial charges65 | €6,943 | €5,292 | €2,196 | €1,545 | €74 | €155 | ▲ 108% |
| Profit (loss) for the period before taxes9903 | €16,479 | €2,377 | €10,958 | -€63,077 | -€4,126 | -€7,501 | ▼ 81.8% |
| Income taxes67/77 | €3,371 | €708 | €2,482 | - | - | €61 | - |
| Profit (loss) for the period9904 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Profit (loss) for the period to be appropriated9905 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Current assets29/58 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Stocks and contracts in progress3 | €96,937 | €148,937 | - | - | - | - | - |
| Stocks30/36 | - | €148,937 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €101,217 | €111,956 | €157,031 | €128,400 | €94,919 | €99,297 | ▲ 4.6% |
| Trade receivables40 | - | €110,621 | €67,031 | €111,894 | €94,919 | €96,506 | ▲ 1.7% |
| Other amounts receivable41 | - | €1,334 | €90,000 | €16,506 | - | €2,791 | - |
| Cash at bank and in hand54/58 | €179,189 | €32,674 | €4,718 | €1,807 | €251 | €6,734 | ▲ 27× |
| Deferred charges and accrued income490/1 | - | - | €182 | - | - | €7 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €384,125 | €293,567 | €161,930 | €130,208 | €95,170 | €106,039 | ▲ 11.4% |
| Equity10/15 | €23,108 | €24,777 | €33,253 | -€29,824 | -€33,950 | -€41,513 | ▼ 22.3% |
| Contributions10/11 | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €10,000 | €10,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Distributable reserves133 | - | €10,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €3,108 | €4,777 | €3,253 | -€59,824 | -€63,950 | -€71,513 | ▼ 11.8% |
| Amounts payable17/49 | €361,017 | €268,790 | €128,677 | €160,032 | €129,120 | €147,551 | ▲ 14.3% |
| Amounts payable within one year42/48 | €361,017 | €268,790 | €128,677 | €160,032 | €129,120 | €147,551 | ▲ 14.3% |
| Trade debts44 | €89,012 | €5,625 | €7,975 | €53,695 | €11,983 | €11,862 | ▼ 1.0% |
| Suppliers440/4 | - | €5,625 | €7,975 | €53,695 | €11,983 | €11,862 | ▼ 1.0% |
| Taxes, remuneration and social security45 | - | €8,768 | €7,126 | €13 | - | - | - |
| Taxes450/3 | - | €4,956 | €4,017 | €13 | - | - | - |
| Remuneration and social security454/9 | - | €3,812 | €3,109 | - | - | - | - |
| Other amounts payable47/48 | - | €254,398 | €113,577 | €106,324 | €117,137 | €135,689 | ▲ 15.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Operating cash flow (approximation) | €13,108 | €1,669 | €8,476 | -€63,077 | -€4,126 | -€7,562 | ▼ 83.3% |
| Change in cash | - | -€146,514 | -€27,957 | -€2,910 | -€1,557 | €6,484 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00461632 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00410079 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00391916 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00275559 | |
| 31-12-2021 | micro format | 16-09-2022 | 2022-20430107 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-54100562 |