déFORM
Annual accounts 2025
micro format, filed on 29-06-2026, 32 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €290,777 on 31-12-2025in euro
in euro
Position in the sector
-7.1%
Higher than 14% of 17,190 companies in 2025.
0.06
Higher than 8% of 16,487 companies in 2025.
-6.0%
Higher than 14% of 16,866 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
290,777 | 308,094 | 302,392 | |
21/28 |
271,180 | 275,773 | 258,506 | |
22/27 |
271,180 | 275,773 | 258,506 | |
22 |
262,015 | 270,249 | 252,908 | |
23 |
8,599 | 4,771 | 5,598 | |
24 |
566 | 753 | - | |
29/58 |
19,596 | 32,322 | 43,886 | |
40/41 |
1,400 | 600 | 984 | |
40 |
1,400 | 600 | 984 | |
54/58 |
17,986 | 31,521 | 42,713 | |
490/1 |
210 | 200 | 189 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
290,777 | 308,094 | 302,392 | |
10/15 |
-20,711 | -3,224 | 2,296 | |
10/11 |
5,000 | 5,000 | 5,000 | |
14 |
-25,711 | -8,224 | -2,704 | |
17/49 |
311,488 | 311,318 | 300,095 | |
42/48 |
311,488 | 311,318 | 300,095 | |
44 |
141 | - | - | |
440/4 |
141 | - | - | |
45 |
- | 0 | 27 | |
450/3 |
- | 0 | 27 | |
47/48 |
311,347 | 311,318 | 300,068 | |
| Income statement | ||||
9900 |
-7,277 | 8,538 | 2,464 | |
630 |
10,045 | 8,588 | 4,748 | |
640/8 |
120 | 4,992 | 384 | |
9901 |
-17,443 | -5,042 | -2,669 | |
75/76B |
- | 0 | 0 | |
75 |
- | 0 | 0 | |
65/66B |
45 | 478 | 35 | |
65 |
45 | 478 | 35 | |
9903 |
-17,488 | -5,520 | -2,704 | |
9904 |
-17,488 | -5,520 | -2,704 | |
9905 |
-17,488 | -5,520 | -2,704 | |
| Appropriation of the result | ||||
9906 |
-25,711 | -8,224 | -2,704 | |
14P |
-8,224 | -2,704 | - | |
| Document | ||||
The notes to these accounts have 9 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 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| -7,397 | 3,546 | 2,080 | ||
| -7,442 | 3,068 | 2,045 | ||
| 5,453 | 25,855 | 263,254 | ||
| -13,535 | -11,192 | - | ||
| -291,892 | -278,997 | -256,209 | ||
| -7.1% | -1.0% | 0.8% | ||
| 0.06 | 0.10 | 0.15 | ||
| - | - | -117.7% | ||
| -6.0% | -1.8% | -0.9% | ||
| -164.31 | 7.41 | 59.48 |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €5,453 | €25,855 | €263,254 |
| Financial fixed assets | €0 | - | - |
| €10,045 | €8,588 | €4,748 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on déFORM
The operating result for 2025 is a loss of €17,443, larger than the loss of €5,042 in 2024. It is the lowest result since 2023.
Equity is negative. Debt (€311,488) exceeds the balance-sheet total (€290,777).