DECODING
Annual accounts 2025
micro format, filed on 04-05-2026, 88 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €140,000. Estimated: probably between €110,000 and €190,000.
Balance sheet
balance sheet total €89,638 on 31-12-2025in euro
in euro
Position in the sector
42.1%
Higher than 35% of 21,208 companies in 2025.
1.38
Higher than 30% of 20,571 companies in 2025.
31.0%
Higher than 68% of 20,746 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
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 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
89,638 | 97,249 | 113,746 | 46,890 | 55,124 | 65,469 | 52,049 | 57,354 | 45,735 | 46,918 | 33,834 | 28,942 | 25,647 | 40,240 | |
21/28 |
18,084 | 20,659 | 18,234 | 13,427 | 14,419 | 15,043 | 19,411 | 17,968 | 11,476 | 1,733 | 3,670 | 1,137 | 1,563 | 6,406 | |
22/27 |
17,969 | 20,544 | 18,119 | 13,312 | 14,304 | 14,928 | 19,296 | 17,853 | 11,011 | 1,618 | 3,555 | 1,022 | 1,448 | 3,253 | |
22 |
9,553 | 10,431 | 9,937 | 10,688 | 11,039 | 13,074 | 16,864 | 14,377 | 9,830 | - | - | - | - | - | |
24 |
5,063 | 6,323 | 3,955 | 2,624 | 3,265 | 1,855 | 2,432 | 3,476 | 1,181 | 1,618 | 3,555 | 1,022 | 1,448 | 3,253 | |
26 |
3,353 | 3,790 | 4,227 | - | - | - | - | - | - | - | - | - | - | - | |
28 |
115 | 115 | 115 | 115 | 115 | 115 | 115 | 115 | 465 | 115 | 115 | 115 | 115 | 3,153 | |
29/58 |
71,554 | 76,590 | 95,512 | 33,463 | 40,705 | 50,426 | 32,639 | 39,386 | 34,259 | 45,184 | 30,164 | 27,804 | 24,084 | 33,834 | |
40/41 |
5,631 | 24,926 | 31,074 | 23,842 | 11,137 | 12,771 | 8,323 | 23,928 | 27,391 | 21,916 | 20,646 | 26,032 | 22,233 | 20,165 | |
40 |
4,159 | 24,926 | 30,948 | 23,716 | 11,011 | 12,645 | 7,079 | 23,898 | 27,391 | 21,916 | 20,646 | 21,372 | 18,943 | 20,165 | |
41 |
1,472 | - | 126 | 126 | 126 | 126 | 1,244 | 30 | - | - | - | 4,660 | 3,291 | - | |
54/58 |
64,479 | 49,794 | 62,092 | 7,323 | 29,530 | 37,618 | 24,280 | 15,212 | 5,465 | 21,794 | 9,087 | - | - | 12,024 | |
490/1 |
1,443 | 1,870 | 2,347 | 2,298 | 37 | 37 | 36 | 246 | 1,402 | 1,474 | 431 | 1,773 | 1,850 | 1,646 | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
89,638 | 97,249 | 113,746 | 46,890 | 55,124 | 65,469 | 52,049 | 57,354 | 45,735 | 46,918 | 33,834 | 28,942 | 25,647 | 40,240 | |
10/15 |
37,758 | 31,374 | 28,387 | 22,245 | 19,385 | 26,331 | 32,695 | 32,501 | 29,380 | 21,373 | 25,591 | 21,262 | 14,224 | 16,549 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
31,558 | 25,174 | 22,187 | 20,131 | 20,131 | 20,131 | 20,131 | 20,131 | 9,867 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
133 |
29,698 | 23,314 | 20,327 | 18,271 | 18,271 | 18,271 | 18,271 | 18,271 | 8,007 | - | - | - | - | - | |
14 |
- | - | - | -4,086 | -6,946 | - | 6,364 | 6,170 | 13,313 | 13,313 | 17,531 | 13,202 | 6,164 | 8,489 | |
17/49 |
51,879 | 65,876 | 85,360 | 24,645 | 35,738 | 39,138 | 19,355 | 24,853 | 16,355 | 25,545 | 8,244 | 7,680 | 11,423 | 23,691 | |
17 |
- | - | - | - | 6,920 | - | - | - | - | - | - | - | - | - | |
170/4 |
- | - | - | - | 6,920 | - | - | - | - | - | - | - | - | - | |
42/48 |
51,879 | 65,611 | 85,360 | 24,645 | 28,818 | 39,138 | 19,195 | 24,722 | 16,355 | 25,545 | 8,242 | 7,680 | 11,423 | 23,691 | |
42 |
3,361 | - | - | 6,920 | 7,462 | - | - | - | - | - | - | - | - | - | |
43 |
- | - | - | - | - | - | - | - | - | - | - | 817 | 259 | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | 817 | 259 | - | |
44 |
4,131 | 3,885 | 39,244 | 8,234 | 1,881 | 7,232 | 4,361 | 1,993 | 2,295 | 3,000 | 2,663 | 3,683 | 5,673 | 1,632 | |
440/4 |
4,131 | 3,885 | 39,244 | 8,234 | 1,881 | 7,232 | 4,361 | 1,993 | 2,295 | 3,000 | 2,663 | 3,683 | 5,673 | 1,632 | |
45 |
16,356 | 27,675 | 20,794 | 8,183 | 17,218 | 16,342 | 11,618 | 12,063 | 7,799 | 11,493 | 5,430 | 3,179 | 5,491 | 16,607 | |
450/3 |
16,356 | 27,675 | 20,794 | 1,935 | 10,697 | 11,415 | 9,731 | 11,475 | 7,799 | 11,493 | 5,430 | 3,179 | 2,813 | 16,607 | |
454/9 |
- | - | - | 6,248 | 6,521 | 4,927 | 1,887 | 587 | - | - | - | - | 2,678 | - | |
47/48 |
28,031 | 34,051 | 25,322 | 1,308 | 2,257 | 15,564 | 3,216 | 10,666 | 6,261 | 11,052 | 149 | - | - | 5,452 | |
492/3 |
- | 265 | - | - | - | - | 160 | 131 | - | - | 2 | - | - | - | |
| Income statement | |||||||||||||||
76A |
- | - | - | - | 3,801 | - | - | 5,500 | - | - | 50 | - | - | - | |
9900 |
40,699 | 46,008 | 37,188 | 8,217 | -877 | 15,303 | 10,056 | 22,347 | 18,582 | 9,026 | 10,705 | 12,777 | 1,078 | 35,239 | |
630 |
3,576 | 2,269 | 1,625 | 2,743 | 5,022 | 5,129 | 5,550 | 4,903 | 4,686 | 1,937 | 2,321 | 1,123 | 2,316 | 4,705 | |
640/8 |
400 | 387 | 384 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | 348 | - | 674 | |
66A |
- | 393 | - | - | - | - | - | - | - | - | 353 | 45 | - | - | |
9901 |
36,723 | 42,960 | 35,179 | 5,126 | -6,247 | 9,827 | 4,159 | 17,097 | 13,549 | 6,741 | 8,036 | 11,306 | -1,238 | 29,861 | |
75/76B |
- | - | - | - | - | - | 1 | 0 | - | 2 | - | 3 | 74 | 6 | |
75 |
- | - | - | - | - | - | 1 | 0 | - | 2 | - | 3 | 74 | 6 | |
65/66B |
305 | 258 | 300 | 734 | 256 | 22 | 182 | 318 | 21 | 135 | 128 | 281 | 252 | 145 | |
65 |
305 | 258 | 300 | 734 | 256 | 22 | 182 | 318 | 21 | 135 | 128 | 281 | 252 | 145 | |
9903 |
36,418 | 42,701 | 34,879 | 4,391 | -6,503 | 9,805 | 3,978 | 16,779 | 13,528 | 6,608 | 7,605 | 10,983 | -1,417 | 29,722 | |
67/77 |
8,605 | 11,143 | 10,466 | 1,532 | 442 | 3,871 | 2,972 | 6,515 | 5,521 | 3,683 | 3,276 | 3,945 | 909 | 12,672 | |
9904 |
27,813 | 31,558 | 24,413 | 2,859 | -6,946 | 5,933 | 1,006 | 10,264 | 8,007 | 2,925 | 4,329 | 7,038 | -2,326 | 17,049 | |
9905 |
27,813 | 31,558 | 24,413 | 2,859 | -6,946 | 5,933 | 1,006 | 10,264 | 8,007 | 2,925 | 4,329 | 7,038 | -2,326 | 17,049 | |
| Appropriation of the result | |||||||||||||||
9906 |
27,813 | 31,558 | 20,327 | -4,086 | -6,946 | 12,297 | 7,176 | 23,577 | 21,320 | 20,456 | 17,531 | 13,202 | 6,164 | 17,049 | |
14P |
- | - | -4,086 | -6,946 | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | 18,271 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
6,385 | 2,987 | 20,327 | - | - | - | - | 10,264 | 8,007 | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
6,385 | 2,987 | 20,327 | - | - | - | - | 10,264 | 8,007 | - | - | - | - | - | |
694/7 |
21,429 | 28,571 | 18,271 | - | - | 12,297 | 812 | 7,143 | - | 7,143 | - | - | - | 6,700 | |
694 |
21,429 | 28,571 | 18,271 | - | - | 12,297 | 812 | 7,143 | - | 7,143 | - | - | - | 6,700 | |
| Document | |||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 04-05-2026.
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 | micro format | 04-05-2026 | 2026-00100293 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00172746 | |
| 31-12-2023 | micro format | 31-05-2024 | 2024-00102338 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00367515 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20390098 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-56100021 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-46900164 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-23900295 | |
| 31-12-2017 | micro format | 23-08-2018 | 2018-48200089 | |
| 31-12-2016 | micro format | 24-08-2017 | 2017-46300377 | |
| 31-12-2015 | full format | 22-08-2016 | 2016-44300092 | |
| 31-12-2014 | full format | 06-08-2015 | 2015-39700273 | |
| 31-12-2013 | full format | 11-08-2014 | 2014-40600498 | |
| 31-12-2012 | full format | 02-07-2013 | 2013-24300405 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 40,299 | 45,228 | 36,804 | 7,869 | -1,225 | 14,956 | 9,709 | 22,000 | 18,235 | 8,678 | 10,358 | 12,430 | 1,078 | 34,565 | ||
| 31,389 | 33,827 | 26,038 | 5,603 | -1,923 | 11,063 | 6,556 | 15,167 | 12,693 | 4,862 | 6,650 | 8,162 | -10 | 21,754 | ||
| 1,000 | 5,087 | 6,432 | 1,752 | 30,604 | 762 | 6,992 | 11,745 | 14,428 | 0 | 5,207 | 743 | 511 | 10,161 | ||
| 14,685 | -12,298 | 54,769 | -22,207 | -8,088 | 13,338 | 9,068 | 9,747 | -16,329 | 12,707 | - | - | - | - | ||
| 19,674 | 10,979 | 10,153 | 8,817 | 11,887 | 11,287 | 13,444 | 14,664 | 17,904 | 19,639 | 21,922 | 20,124 | 12,660 | 10,143 | ||
| 42.1% | 32.3% | 25.0% | 47.4% | 35.2% | 40.2% | 62.8% | 56.7% | 64.2% | 45.6% | 75.6% | 73.5% | 55.5% | 41.1% | ||
| 1.38 | 1.17 | 1.12 | 1.36 | 1.41 | 1.29 | 1.70 | 1.59 | 2.09 | 1.77 | 3.66 | 3.62 | 2.11 | 1.43 | ||
| 1.37 | 2.10 | 3.01 | 1.11 | 1.84 | 1.49 | 0.59 | 0.76 | 0.56 | 1.20 | 0.32 | 0.36 | 0.80 | 1.43 | ||
| 73.7% | 100.6% | 86.0% | 12.9% | -35.8% | 22.5% | 3.1% | 31.6% | 27.3% | 13.7% | 16.9% | 33.1% | -16.4% | 103.0% | ||
| 31.0% | 32.5% | 21.5% | 6.1% | -12.6% | 9.1% | 1.9% | 17.9% | 17.5% | 6.2% | 12.8% | 24.3% | -9.1% | 42.4% | ||
| over 100 | over 100 | over 100 | 10.71 | -4.78 | - | - | - | - | - | - | - | - | - |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,000 | €5,087 | €6,432 | €1,752 | €30,604 |
| €3,576 | €2,269 | €1,625 | €2,743 | €5,022 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on DECODING
The operating result for 2025 is 15% lower than in 2024.
Debt's share of the balance-sheet total falls from 67.7% to 57.9%. Equity is higher and debt is lower.