CREATRENDS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 35 filings
Turnover
≈ €130,000
Estimated: probably between €71,000 and €220,000
EBIT margin
Not included in this filing
Net result
-€62,108▲ 87.4%
2024 · -€491,016
Working capital
€505,461▼ 48.6%
2024 · €984,252
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€15,590
▼ 96.9%
2025
20192025
Net result
-€62,108
▲ 87.4%
2025
lowest quarter of the sector
20192025
Equity
€318,133
▼ 16.3%
2025
middle half of the sector
20192025
Total assets
€1.5m
▼ 3.2%
2025
middle half of the sector
20192025
Debt
€180,772
▲ 19.5%
2025
20192025
Working capital
€505,461
▼ 48.6%
2025
middle half of the sector
20192025
Solvency
21.7%
▼ 3.4pp
2025
middle half of the sector
20192025
Current ratio
4.29
▼ 4.64
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-4.2%
▲ 28.2pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.001m-€0.008m▲ 11×-€0.03m-€0.05m▼ 44.5%-€0.04m▲ 27.6%€0.5m€0.02m▼ 96.9%
Net result-€0.008m--€0.003mbelow the sector's middle half▲ 64.5%-€0.05mbelow the sector's middle half▼ 1,580%-€0.1mbelow the sector's middle half▼ 124%-€0.1mbelow the sector's middle half▼ 20.5%-€0.5mbelow the sector's middle half▼ 282%-€0.06mbelow the sector's middle half▲ 87.4%
Equity€1.2m-€1.2mabove the sector's middle half▼ 0.2%€1.1mabove the sector's middle half▼ 4.1%€1.0mabove the sector's middle half▼ 9.6%€0.9mabove the sector's middle half▼ 12.9%€0.4mwithin the sector's middle half▼ 56.4%€0.3mwithin the sector's middle half▼ 16.3%
Total assets€2.6m-€2.6mabove the sector's middle half▲ 0.5%€2.5mabove the sector's middle half▼ 4.8%€2.5mabove the sector's middle half▲ 1.2%€2.6mabove the sector's middle half▲ 5.4%€1.5mwithin the sector's middle half▼ 42.2%€1.5mwithin the sector's middle half▼ 3.2%
Debt€0.5m-€0.4m▼ 7.7%€0.3m▼ 29.9%€0.5m▲ 51.9%€0.7m▲ 58.8%€0.2m▼ 79.8%€0.2m▲ 19.5%
Working capital€1.7m-€1.8mabove the sector's middle half▲ 4.0%€1.8mabove the sector's middle half▲ 1.9%-€0.3mbelow the sector's middle half-€0.3mbelow the sector's middle half▲ 18.3%€1.0mabove the sector's middle half€0.5mwithin the sector's middle half▼ 48.6%
Solvency45.2%-44.9%within the sector's middle half▼ 0.4pp45.2%within the sector's middle half▲ 0.3pp40.3%within the sector's middle half▼ 4.8pp33.3%within the sector's middle half▼ 7.0pp25.2%within the sector's middle half▼ 8.2pp21.7%within the sector's middle half▼ 3.4pp
Current ratio5.01-5.61above the sector's middle half▲ 0.608.26above the sector's middle half▲ 2.650.27below the sector's middle half▼ 7.990.63below the sector's middle half▲ 0.368.93above the sector's middle half▲ 8.294.29above the sector's middle half▼ 4.64
Return on assets (ROA)-0.3%--0.1%below the sector's middle half▲ 0.2pp-1.9%below the sector's middle half▼ 1.8pp-4.3%below the sector's middle half▼ 2.4pp-4.9%below the sector's middle half▼ 0.6pp-32.5%below the sector's middle half▼ 27.6pp-4.2%below the sector's middle half▲ 28.2pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 97% lower than in 2024.
Large changes and their cause
- 2025 Net result +87% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€803,701 ▲ 99.4%
Current assets
€659,125 ▼ 40.5%
Equity and liabilities €1.5m
Equity
€318,133 ▼ 16.3%
Provisions
€963,921 ▼ 1.6%
Debt
€180,772 ▲ 19.5%
Debt's share of the balance-sheet total rises from 10.0% to 12.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€16,535▼
2024 · €496,257
Cash flow
-€61,163▲
2024 · -€490,159
Debt to equity
0.57▲
2024 · 0.40
ROE
-19.5%▲
2024 · -129.1%
Interest coverage
0.18▼
2024 · 5.99
Debt ≤ 1 year
€153,664▲
2024 · €124,186
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3,345 | - | - | €1,671 |
| Financial fixed assets | €2.0m | - | - | €400,000 |
| Depreciation and write-downs of the year | €16,591 | €2,425 | €857 | €945 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.002m | €0.001m | €0.001m | ▲ 10.3% |
| Other operating charges640/8 | - | - | - | €0.004m | €0.001m | €0.001m | €0.001m | ▲ 2.6% |
| Gross operating margin9900 | €0.03m | €0.03m | -€0.01m | -€0.03m | -€0.03m | €0.5m | €0.02m | ▼ 96.4% |
| Operating profit (loss)9901 | €0.001m | €0.008m | -€0.03m | -€0.05m | -€0.04m | €0.5m | €0.02m | ▼ 96.9% |
| Financial income75/76B | - | - | - | €0.07m | €0.006m | €0.3m | €0.02m | ▼ 95.0% |
| Recurring financial income75 | €0.06m | €0.07m | €0.07m | €0.07m | €0.006m | €0.3m | €0.02m | ▼ 95.0% |
| Financial charges65/66B | - | - | - | €0.1m | €0.1m | €1.3m | €0.09m | ▼ 92.7% |
| Recurring financial charges65 | €0.07m | €0.08m | €0.08m | €0.1m | €0.1m | €0.08m | €0.09m | ▲ 12.9% |
| Non-recurring financial charges66B | - | - | - | - | - | €1.2m | - | - |
| Profit (loss) for the period before taxes9903 | -€0.008m | -€0.003m | -€0.05m | -€0.1m | -€0.1m | -€0.5m | -€0.06m | ▲ 86.8% |
| Income taxes67/77 | - | - | - | - | - | €0.02m | - | - |
| Profit (loss) for the period9904 | -€0.008m | -€0.003m | -€0.05m | -€0.1m | -€0.1m | -€0.5m | -€0.06m | ▲ 87.4% |
| Profit (loss) for the period to be appropriated9905 | -€0.008m | -€0.003m | -€0.05m | -€0.1m | -€0.1m | -€0.5m | -€0.06m | ▲ 87.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.6m | €2.6m | €2.5m | €2.5m | €2.6m | €1.5m | €1.5m | ▼ 3.2% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €2.4m | €2.2m | €0.4m | €0.8m | ▲ 99.4% |
| Tangible fixed assets22/27 | €0.05m | €0.04m | €0.02m | €0.006m | €0.004m | €0.003m | €0.004m | ▲ 24.5% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.004m | €0.003m | €0.004m | ▲ 24.5% |
| Financial fixed assets28 | €0.4m | €0.4m | €0.4m | €2.4m | €2.2m | €0.4m | €0.8m | ▲ 100.0% |
| Current assets29/58 | €2.2m | €2.2m | €2.1m | €0.1m | €0.5m | €1.1m | €0.7m | ▼ 40.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.3m | €0.3m | €0.4m | ▲ 16.7% |
| Other amounts receivable291 | - | - | - | - | €0.3m | €0.3m | €0.4m | ▲ 16.7% |
| Amounts receivable within one year40/41 | €0.07m | €0.03m | €0.05m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 54.1% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 79.3% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.008m | €0.03m | €0.01m | ▼ 60.2% |
| Current investments50/53 | - | - | - | - | - | €0.5m | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.04m | €0.03m | €0.005m | €0.02m | €0.1m | €0.005m | ▼ 95.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.008m | €0.03m | €0.03m | ▼ 8.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.6m | €2.6m | €2.5m | €2.5m | €2.6m | €1.5m | €1.5m | ▼ 3.2% |
| Equity10/15 | €1.2m | €1.2m | €1.1m | €1.0m | €0.9m | €0.4m | €0.3m | ▼ 16.3% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €1.1m | €1.1m | €1.0m | €0.9m | €0.8m | €0.3m | €0.2m | ▼ 20.9% |
| Provisions and deferred taxes16 | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 1.6% |
| Provisions for liabilities and charges160/5 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 1.6% |
| Other liabilities and charges164/5 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 1.6% |
| Amounts payable17/49 | €0.5m | €0.4m | €0.3m | €0.5m | €0.7m | €0.2m | €0.2m | ▲ 19.5% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.3m | €0.4m | €0.7m | €0.1m | €0.2m | ▲ 23.7% |
| Trade debts44 | €0.02m | €0.03m | €0.03m | €0.03m | €0.06m | €0.1m | €0.03m | ▼ 71.6% |
| Suppliers440/4 | - | - | - | €0.03m | €0.06m | €0.1m | €0.03m | ▼ 71.6% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.01m | €0.01m | ▲ 0.4% |
| Taxes450/3 | - | - | - | - | - | €0.01m | €0.01m | ▲ 0.4% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.7m | - | €0.1m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 0.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.008m | -€0.003m | -€0.05m | -€0.1m | -€0.1m | -€0.5m | -€0.06m | ▲ 87.4% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.002m | €0.001m | €0.001m | ▲ 10.3% |
| Operating cash flow (approximation) | €0.01m | €0.02m | -€0.03m | -€0.09m | -€0.1m | -€0.5m | -€0.06m | ▲ 87.5% |
| Investment in fixed assets (approximation) | - | -€0.01m | -€0.002m | -€2.0m | €0.2m | €1.8m | -€0.4m | - |
| Change in cash | - | €0.01m | -€0.01m | -€0.03m | €0.01m | €0.08m | -€0.1m | - |
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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-07-2026 | 2026-00277392 | |
| 31-12-2024 | abbreviated format | 29-09-2025 | 2025-00509494 | |
| 31-12-2023 | abbreviated format | 30-07-2024 | 2024-00300838 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00307177 | |
| 30-06-2021 | abbreviated format | 31-01-2022 | 2022-04000105 | |
| 30-06-2020 | abbreviated format | 28-01-2021 | 2021-02100292 | |
| 30-06-2019 | abbreviated format | 14-01-2020 | 2020-00900273 | |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-03200075 | |
| 30-06-2017 | abbreviated format | 31-01-2018 | 2018-03100278 | |
| 30-06-2016 | abbreviated format | 31-01-2017 | 2017-02600358 |