DB² Value Creation
Annual accounts 2025
abbreviated format, filed on 15-07-2026, 16 days before the deadline-€98,973
▼ €476,818
-€1.8m
▼ €828,302
-€2.1m
▼ €172,704
-€31,225
▼ €24,376
-205.0%
▼ 95.8 percentage points
0.95
▼ 0.04
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance sheet
balance sheet total €2.4m on 31-12-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
-205.0%
Lower than 95% of 2,094 companies in 2025.
0.95
Higher than 28% of 2,010 companies in 2025.
-89.0%
Lower than 95% of 2,053 companies in 2025.
DB² Value Creation
Middle half of the sector
80% of the sector
Abbreviated accounts in advertising and market research (NACE 73)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter
Staff
€88,762
Staff costs divided by the average number of full-time equivalents.
+2 people
people who joined
people who left
In 2025, 21 people joined and 19 left. Training hours in 2025: 104.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
2.4m | 2.5m | 2.8m | 2.2m | 1.7m | 1.7m | 332,842 | 154,890 | 40,424 | 19,472 | |
20 |
0 | 2,244 | 4,488 | 12,960 | 25,409 | 24,120 | - | - | - | - | |
21/28 |
1.8m | 2.1m | 2.0m | 1.7m | 1.1m | 535,695 | 195,027 | 120,904 | 17,450 | - | |
21 |
1.8m | 2.1m | 1.9m | 1.6m | 1.1m | 516,433 | 182,734 | 119,343 | 16,450 | - | |
22/27 |
23,353 | 28,645 | 31,687 | 40,322 | 24,479 | 18,262 | 11,293 | 561 | - | - | |
23 |
1,189 | 2,155 | 3,120 | 4,131 | 784 | 418 | 604 | 561 | - | - | |
24 |
18,680 | 24,537 | 26,310 | 33,629 | 20,829 | 17,844 | 10,689 | - | - | - | |
26 |
3,484 | 1,953 | 2,257 | 2,561 | 2,866 | - | - | - | - | - | |
28 |
- | - | - | - | - | 1,000 | 1,000 | 1,000 | 1,000 | - | |
29/58 |
568,350 | 428,205 | 878,172 | 473,576 | 598,947 | 1.2m | 137,816 | 33,986 | 22,974 | 19,472 | |
29 |
- | 0 | 1,050 | 1,405 | - | - | - | - | - | - | |
291 |
- | 0 | 1,050 | 1,405 | - | - | - | - | - | - | |
40/41 |
439,621 | 312,017 | 847,559 | 348,328 | 470,846 | 309,278 | 53,638 | 33,986 | 22,974 | 18,063 | |
40 |
338,875 | 211,272 | 764,211 | 280,016 | 420,180 | 303,932 | 53,584 | 32,215 | 18,470 | 17,311 | |
41 |
100,745 | 100,745 | 83,348 | 68,311 | 50,666 | 5,346 | 55 | 1,771 | 4,504 | 752 | |
54/58 |
91,961 | 79,006 | 1,046 | 106,751 | 120,774 | 866,458 | 74,214 | - | - | 74 | |
490/1 |
36,769 | 37,183 | 28,516 | 17,092 | 7,327 | 304 | 9,964 | - | - | 1,335 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
2.4m | 2.5m | 2.8m | 2.2m | 1.7m | 1.7m | 332,842 | 154,890 | 40,424 | 19,472 | |
10/15 |
-4.8m | -2.7m | -1.3m | -476,252 | 94,226 | 325,318 | 38,765 | -22,318 | -82,447 | -24,524 | |
10/11 |
953,187 | 953,187 | 470,188 | 470,188 | 470,188 | 470,188 | 66,050 | 18,550 | 18,550 | 18,550 | |
100 |
- | - | - | - | - | - | 66,050 | 18,550 | 18,550 | 18,550 | |
13 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | |
130 |
- | - | - | - | - | - | 1,855 | 1,855 | - | - | |
133 |
1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | - | - | - | - | |
14 |
-5.8m | -3.7m | -1.8m | -948,295 | -377,817 | -146,725 | -29,140 | -42,723 | -100,997 | -43,074 | |
17/49 |
7.2m | 5.3m | 4.1m | 2.6m | 1.6m | 1.4m | 294,078 | 177,209 | 122,872 | 43,996 | |
17 |
5.4m | 4.2m | 2.5m | 1.8m | 777,257 | 775,153 | 32,500 | 46,250 | 43,750 | 29,375 | |
170/4 |
5.4m | 4.2m | 2.5m | 1.8m | 777,257 | 735,153 | - | - | - | - | |
178/9 |
- | - | - | - | - | 40,000 | 32,500 | 46,250 | 43,750 | 29,375 | |
42/48 |
599,576 | 435,054 | 1.0m | 452,028 | 632,907 | 504,810 | 261,578 | 128,250 | 79,122 | 14,621 | |
42 |
- | 0 | 24,581 | 2,434 | 4,896 | 164,150 | 165,728 | 27,000 | 15,000 | 625 | |
43 |
- | 0 | 1,838 | 0 | 150,000 | 1,441 | - | 39,443 | 39,970 | 6,049 | |
430/8 |
- | 0 | 1,838 | 0 | 150,000 | 1,441 | - | 39,443 | 39,970 | 6,049 | |
44 |
233,613 | 201,249 | 741,063 | 247,158 | 352,638 | 297,572 | 55,850 | 39,917 | 23,594 | 7,947 | |
440/4 |
233,613 | 201,249 | 741,063 | 247,158 | 352,638 | 297,572 | 55,850 | 39,917 | 23,594 | 7,947 | |
46 |
- | - | - | - | - | - | 238 | - | - | - | |
45 |
356,259 | 224,102 | 234,417 | 190,023 | 111,392 | 27,797 | 21,814 | 10,094 | 358 | - | |
450/3 |
82,263 | 23,033 | 60,065 | 609 | 5,308 | 2,490 | 8,834 | 1,469 | - | - | |
454/9 |
273,996 | 201,068 | 174,352 | 189,415 | 106,085 | 25,307 | 12,979 | 8,624 | 358 | - | |
47/48 |
9,703 | 9,703 | 9,132 | 12,413 | 13,980 | 13,850 | 17,948 | 11,797 | 200 | - | |
492/3 |
1.2m | 582,903 | 664,629 | 369,440 | 231,384 | 130,573 | - | 2,708 | - | - | |
| Income statement | |||||||||||
76A |
- | 0 | 7,077 | - | 30,636 | 25,527 | - | - | - | - | |
9900 |
-98,973 | 377,845 | 648,644 | 535,203 | 346,684 | 58,013 | 163,572 | 129,621 | -45,244 | -40,958 | |
62 |
1.4m | 1.1m | 1.1m | 900,967 | 518,797 | 120,611 | 84,289 | 31,783 | 2,999 | - | |
630 |
295,120 | 274,652 | 229,454 | 148,178 | 82,227 | 44,972 | 57,676 | 30,302 | 4,113 | - | |
631/4 |
- | 0 | -1,740 | 0 | 1,740 | - | - | - | - | - | |
640/8 |
209 | 368 | 2,668 | 3,702 | 940 | 1,705 | 580 | 578 | 760 | 623 | |
66A |
- | 0 | 78 | 63 | - | - | - | - | - | - | |
9901 |
-1.8m | -986,191 | -687,286 | -517,707 | -257,019 | -109,275 | 21,027 | 66,958 | -53,115 | -41,581 | |
75/76B |
1,208 | 0 | 45 | 621 | 2,446 | 1,158 | 250 | 170 | 3 | 9 | |
75 |
1,208 | 0 | 45 | 621 | 2,446 | 1,158 | 250 | 170 | 3 | 9 | |
65/66B |
290,335 | 964,690 | 151,372 | 73,850 | 8,372 | 9,468 | 7,511 | 7,000 | 4,812 | 1,501 | |
65 |
290,335 | 964,690 | 151,372 | 73,850 | 8,372 | 9,468 | 7,511 | 7,000 | 4,812 | 1,501 | |
9903 |
-2.1m | -2.0m | -838,613 | -590,936 | -262,945 | -117,585 | 13,766 | 60,129 | -57,923 | -43,072 | |
67/77 |
1,693 | -18,271 | -22,099 | -20,458 | -31,853 | - | 183 | - | 0 | 1 | |
9904 |
-2.1m | -1.9m | -816,514 | -570,478 | -231,092 | -117,585 | 13,583 | 60,129 | -57,924 | -43,074 | |
9905 |
-2.1m | -1.9m | -816,514 | -570,478 | -231,092 | -117,585 | 13,583 | 60,129 | -57,924 | -43,074 | |
| Appropriation of the result | |||||||||||
9906 |
-5.8m | -3.7m | -1.8m | -948,295 | -377,817 | -146,725 | -29,140 | -40,868 | -100,997 | -43,074 | |
14P |
-3.7m | -1.8m | -948,295 | -377,817 | -146,725 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 1,855 | - | - | |
6920 |
- | - | - | - | - | - | - | 1,855 | - | - | |
| Social balance sheet | |||||||||||
9087 |
16 | 13.6 | 14.8 | 13.8 | 9.6 | 3.2 | 2 | 1 | 1 | - | |
Hours worked1013 |
26,132 | 22,956 | 24,742 | 22,858 | 15,658 | 4,578 | 3,360 | 1,851 | 167 | - | |
| Document | |||||||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-07-2026 | 2026-00302359 | |
| 31-12-2024 | abbreviated format | 16-07-2025 | 2025-00273739 | |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00172260 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00298712 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20097219 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-27900017 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-33000571 | |
| 31-12-2018 | micro format | 29-03-2019 | 2019-08800487 | |
| 31-12-2017 | micro format | 16-08-2018 | 2018-46100183 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-33100183 |
Subsidies and aid
Flemish government 2022 to 2025, 5 entries, €19,775 awarded, €17,648 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €6,649 | €6,169 |
| 2024 | 2 | €5,880 | €4,233 |
| 2022 | 2 | €7,246 | €7,246 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -1.5m | -711,539 | -457,832 | -369,529 | -174,792 | -64,303 | 78,703 | 97,260 | -49,003 | - | ||
| -1.8m | -1.7m | -587,060 | -422,300 | -148,865 | -72,613 | 71,259 | 90,431 | -53,811 | - | ||
| 8,155 | 392,626 | 513,877 | 692,815 | 615,784 | 357,723 | 131,799 | 133,757 | 21,563 | - | ||
| 12,955 | 77,959 | -105,705 | -14,023 | -745,684 | 792,244 | - | - | - | - | ||
| -31,225 | -6,849 | -132,859 | 21,548 | -33,960 | 671,230 | -123,762 | -94,264 | -56,147 | 4,851 | ||
| -205.0% | -109.2% | -45.5% | -22.1% | 5.4% | 18.7% | 11.6% | -14.4% | -204.0% | -125.9% | ||
| 0.95 | 0.98 | 0.87 | 1.05 | 0.95 | 2.33 | 0.53 | 0.26 | 0.29 | 1.33 | ||
| - | - | - | - | 17.42 | 4.34 | 7.59 | - | - | - | ||
| - | - | - | - | -245.3% | -36.1% | 35.0% | - | - | - | ||
| -89.0% | -77.0% | -28.7% | -26.5% | -13.3% | -6.8% | 4.1% | 38.8% | -143.3% | -221.2% | ||
| -5.23 | -0.74 | -3.02 | -5.00 | -20.88 | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 18 | 16 | 13 | 16 | 14 |
| full-time | 14 | 12 | 10 | 12 | 10 |
| part-time | 4 | 4 | 3 | 4 | 4 |
| in full-time equivalents | 16.6 | 14.6 | 12.4 | 14.6 | 11.8 |
| 16 | 13.6 | 14.8 | 13.8 | 9.6 | |
| On a permanent contract | 17 | 15 | 13 | 15 | 12 |
| Joined | 21 | 16 | 23 | 33 | 19 |
| Left | 19 | 13 | 26 | 31 | 17 |
| Training hours | 104 | 38 | 48 | 28 | 12 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
tax and social security| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Overdue tax debts | €51,769 | €20,542 | - | - | - |
| Overdue social security (RSZ) debts | €22,496 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €5.4m | €4.2m | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,155 | €11,122 | €9,559 | €29,060 | €14,059 |
| Intangible fixed assets | - | €381,505 | €504,318 | €663,755 | €601,726 |
| €295,120 | €274,652 | €229,454 | €148,178 | €82,227 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on DB² Value Creation
The operating result for 2025 is a loss of €1.8m, larger than the loss of €986,191 in 2024. It is the lowest result since 2016.
Equity is negative. Debt (€7.2m) exceeds the balance-sheet total (€2.4m).
Large changes and their cause
- 2022 Net result -147% on 2021. The accounts now follow the abbreviated format, last year the micro format.