DE FORMULERING (0878.005.693): financials and annual accounts

DE FORMULERING

Ghent ·KBO/BCE: BE 0878.005.693

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	13,855	10,381	11,967	7,873	18,365	17,081	25,016	18,553	27,174	26,747	30,574	39,033	48,845	51,573	55,750	23,344	24,685
Fixed assets`21/28`	2,176	1,697	2,197	3,383	5,326	5,524	6,232	366	1,007	2,228	1,130	359	1,054	672	214	1,680	5,298
Tangible fixed assets`22/27`	2,026	1,547	2,047	3,233	5,176	5,374	6,232	366	1,007	2,228	1,130	359	1,054	672	214	1,680	5,298
Plant, machinery and equipment`23`	2,026	1,547	2,047	3,233	5,176	5,374	6,232	366	234	351	469	-	336	672	214	706	1,412
Furniture and vehicles`24`	0	-	-	-	-	-	-	-	773	1,877	661	359	718	-	-	974	3,886
Financial fixed assets`28`	150	150	150	150	150	150	-	-	-	-	-	-	-	-	-	-	-
Current assets`29/58`	11,679	8,684	9,770	4,490	13,039	11,557	18,784	18,187	26,167	24,519	29,444	38,674	47,791	50,901	55,536	21,664	19,387
Amounts receivable within one year`40/41`	3,207	2,207	424	517	2,321	7,111	11,082	2,801	7,725	7,776	8,147	7,382	5,528	14,945	6,097	6,798	4,001
Trade receivables`40`	3,207	424	424	424	697	7,111	7,690	2,801	7,725	7,776	8,147	7,382	5,528	14,945	6,097	6,798	3,963
Other amounts receivable`41`	-	1,783	-	93	1,624	-	3,392	-	-	-	-	-	-	-	-	-	38
Cash at bank and in hand`54/58`	8,424	6,428	8,755	3,452	10,357	4,089	7,658	15,384	18,441	16,742	21,297	31,291	42,263	35,888	49,439	14,853	15,264
Deferred charges and accrued income`490/1`	49	49	591	521	361	357	44	2	1	1	-	1	-	68	-	13	122
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	13,855	10,381	11,967	7,873	18,365	17,081	25,016	18,553	27,174	26,747	30,574	39,033	48,845	51,573	55,750	23,344	24,685
Equity`10/15`	-13,910	-11,014	2,544	-130	3,751	-6,006	-6,715	3,016	10,025	10,903	13,952	16,528	14,294	28,245	24,788	5,994	967
Contributions`10/11`	12,400	12,400	12,400	12,400	12,400	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Contributions outside capital`11`	-	-	-	-	-	12,400	-	-	-	-	-	-	-	-	-	-	-
Share premium`1100/10`	-	-	-	-	-	12,400	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Non-distributable reserves`130/1`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-
Other`1319`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-28,170	-25,274	-11,716	-14,390	-10,509	-20,266	-20,975	-11,244	-4,235	-3,357	-308	2,268	34	13,985	10,528	-8,266	-13,293
Amounts payable`17/49`	27,765	21,395	9,423	8,003	14,614	23,087	31,731	15,537	17,149	15,844	16,622	22,505	34,551	23,328	30,962	17,350	23,718
Amounts payable after more than one year`17`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,097
Financial debts`170/4`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,097
Amounts payable within one year`42/48`	27,765	21,395	9,089	6,903	13,481	21,954	28,003	12,082	13,749	12,444	13,222	20,142	32,215	21,050	28,752	15,181	20,534
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,097	2,634
Trade debts`44`	500	7,418	348	348	347	1,160	8,250	5,010	5,744	5,416	5,000	12,006	11,136	13,509	14,478	8,279	12,161
Suppliers`440/4`	500	7,418	348	348	347	1,160	8,250	5,010	5,744	5,416	5,000	12,006	11,136	13,509	14,478	8,279	12,161
Taxes, remuneration and social security`45`	1,676	1,385	2,788	1,369	1,948	3,918	5,110	6,838	8,005	6,752	7,487	8,136	8,079	7,541	9,387	5,805	5,739
Taxes`450/3`	426	135	1,538	119	698	2,668	3,860	5,588	6,693	5,442	6,175	6,824	6,769	6,233	8,137	4,505	4,439
Remuneration and social security`454/9`	1,250	1,250	1,250	1,250	1,250	1,250	1,250	1,250	1,312	1,310	1,312	1,312	1,310	1,308	1,250	1,300	1,300
Other amounts payable`47/48`	25,590	12,592	5,953	5,186	11,186	16,876	14,643	234	-	276	735	-	13,000	-	4,887	-	-
Accrued charges and deferred income`492/3`	-	-	334	1,100	1,133	1,133	3,728	3,455	3,400	3,400	3,400	2,363	2,336	2,278	2,210	2,169	2,087
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,123	-	-
Gross operating margin`9900`	-1,776	-12,218	6,005	-1,122	13,771	4,130	-6,616	-4,640	2,007	207	409	6,647	1,936	7,504	28,379	9,847	-12,440
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	451	500	1,746	1,943	2,684	2,523	2,284	1,014	1,220	1,220	806	695	695	550	937	3,617	3,969
Other operating charges`640/8`	584	638	605	656	587	782	728	1,226	777	1,845	1,933	2,492	1,595	1,560	1,875	1,212	1,179
Operating profit (loss)`9901`	-2,810	-13,356	3,654	-3,721	10,500	825	-9,628	-6,880	10	-2,858	-2,330	3,460	-354	5,394	25,567	5,018	-17,588
Financial income`75/76B`	0	2	-	3	-	12	23	41	3	38	99	358	56	35	13	11	254
Recurring financial income`75`	0	2	-	3	-	12	23	41	3	38	99	358	56	35	13	11	254
Financial charges`65/66B`	66	69	46	44	45	10	10	40	285	15	29	-	18	28	8	-	-
Recurring financial charges`65`	66	69	46	44	45	10	10	40	285	15	29	-	18	28	8	-	-
Profit (loss) for the period before taxes`9903`	-2,876	-13,423	3,608	-3,762	10,455	827	-9,615	-6,879	-272	-2,835	-2,260	3,818	-316	5,401	26,695	5,029	-17,334
Income taxes`67/77`	20	135	934	119	698	118	116	130	606	214	316	1,584	635	1,944	4,151	2	-
Profit (loss) for the period`9904`	-2,896	-13,558	2,674	-3,881	9,757	709	-9,731	-7,009	-878	-3,049	-2,576	2,234	-951	3,457	22,544	5,027	-17,334
Profit (loss) for the period to be appropriated`9905`	-2,896	-13,558	2,674	-3,881	9,757	709	-9,731	-7,009	-878	-3,049	-2,576	2,234	-951	3,457	22,544	5,027	-17,334
Appropriation of the result
Profit (loss) to be appropriated`9906`	-28,170	-25,274	-11,716	-14,390	-10,509	-20,266	-20,975	-11,244	-4,235	-3,357	-308	2,268	13,034	13,985	14,278	-8,266	-13,293
Profit (loss) brought forward from the previous period`14P`	-25,274	-11,716	-14,390	-10,509	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-
To other reserves`6921`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-
Profit to be distributed`694/7`	-	-	-	-	-	-	-	-	-	-	-	-	13,000	-	3,750	-	-
Return on contributions (dividend)`694`	-	-	-	-	-	-	-	-	-	-	-	-	13,000	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,750	-	-
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Financial year	Type	Filed	Reference	Document
30-09-2025	abbreviated format	27-11-2025	2025-00571768	PDF
30-09-2024	abbreviated format	07-01-2025	2025-00000688	PDF
30-09-2023	abbreviated format	21-12-2023	2023-00534055	PDF
30-09-2022	abbreviated format	22-12-2022	2022-20543817	PDF
30-09-2021	abbreviated format	17-01-2022	2022-01100477	PDF
30-09-2020	abbreviated format	16-12-2020	2020-75700501	PDF
30-09-2019	abbreviated format	30-12-2019	2019-77700420	PDF
30-09-2018	abbreviated format	05-12-2018	2018-73700367	PDF
30-09-2017	abbreviated format	30-11-2017	2017-70800280	PDF
30-09-2016	abbreviated format	28-11-2016	2016-68700058	PDF
30-09-2015	abbreviated format	19-11-2015	2015-67000420	PDF
30-09-2014	abbreviated format	04-12-2014	2014-68400030	PDF
30-09-2013	abbreviated format	24-12-2013	2013-69800463	PDF
30-09-2012	abbreviated format	05-11-2012	2012-63200592	PDF
30-09-2011	abbreviated format	16-11-2011	2011-61000106	PDF
30-09-2010	abbreviated format	03-11-2010	2010-60100065	PDF
30-09-2009	abbreviated format	09-12-2009	2009-88300094	PDF
30-09-2008	abbreviated format	26-11-2008	2008-81800159	PDF
30-09-2007	abbreviated format	04-01-2008	2008-00200057	PDF
30-09-2006	abbreviated format	18-12-2006	2006-90800188	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	-2,359	-12,856	5,400	-1,778	13,184	3,348	-7,344	-5,866	1,230	-1,638	-1,524	4,155	341	5,944	26,504	8,635	-13,619
Cash flow	-2,445	-13,058	4,420	-1,938	12,441	3,232	-7,447	-5,995	342	-1,829	-1,770	2,929	-256	4,007	23,481	8,644	-13,365
Investment in fixed assets (approximation)	929	0	560	0	2,485	1,665	8,150	373	-1	2,320	1,577	0	1,077	1,007	-529	-1	-
Change in cash	1,996	-2,327	5,303	-6,905	6,268	-3,569	-7,726	-3,057	1,699	-4,555	-9,994	-10,972	6,375	-13,551	34,586	-411	-
Working capital	-16,086	-12,711	681	-2,413	-442	-10,397	-9,219	6,105	12,418	12,075	16,222	18,532	15,576	29,851	26,784	6,483	-1,147
Solvency	-100.4%	-106.1%	21.3%	-1.7%	20.4%	-35.2%	-26.8%	16.3%	36.9%	40.8%	45.6%	42.3%	29.3%	54.8%	44.5%	25.7%	3.9%
Current ratio	0.42	0.41	1.07	0.65	0.97	0.53	0.67	1.51	1.90	1.97	2.23	1.92	1.48	2.42	1.93	1.43	0.94
Debt to equity	-	-	3.70	-	3.90	-	-	5.15	1.71	1.45	1.19	1.36	2.42	0.83	1.25	2.89	-
ROE	-	-	105.1%	-	260.1%	-	-	-232.4%	-8.8%	-28.0%	-18.5%	13.5%	-6.7%	12.2%	90.9%	83.9%	-
ROA	-20.9%	-130.6%	22.3%	-49.3%	53.1%	4.2%	-38.9%	-37.8%	-3.2%	-11.4%	-8.4%	5.7%	-1.9%	6.7%	40.4%	21.5%	-70.2%
Interest coverage	-35.61	-186.32	over 100	-40.41	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	30-09-2025	30-09-2024	30-09-2023	30-09-2022
Tangible fixed assets	€929	-	€560	-
Depreciation and write-downs of the year	€451	€500	€1,746	€1,943

DE FORMULERING

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency-100.4%

Current ratio0.42

Return on assets-20.9%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on DE FORMULERING

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