DEVLOPMENT & SEMINARS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 PDF all 27 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€662▲ 71.6%
2024 · -€2,329
Working capital
€15,904=
2024 · €15,903
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€523
▲ 77.9%
2025
20182025
Net result
-€662
▲ 71.6%
2025
lowest quarter of the sector
20182025
Equity
€11,998
▼ 5.2%
2025
lowest quarter of the sector
20182025
Total assets
€16,861
▲ 1.2%
2025
lowest quarter of the sector
20182025
Debt
€4,863
▲ 21.4%
2025
20182025
Working capital
€15,904
=
2025
middle half of the sector
20182025
Solvency
71.2%
▼ 4.8pp
2025
middle half of the sector
20182025
Current ratio
17.61
▼ 4.28
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-3.9%
▲ 10.0pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€11,230-€14,735€16,479▲ 11.8%€22,944▲ 39.2%€17,199▼ 25.0%€20,636▲ 20.0%-€2,370-€523▲ 77.9%
Net result-€11,457-€14,420€16,456within the sector's middle half▲ 14.1%€23,716within the sector's middle half▲ 44.1%€17,245within the sector's middle half▼ 27.3%€13,929within the sector's middle half▼ 19.2%-€2,329below the sector's middle half-€662below the sector's middle half▲ 71.6%
Equity-€12,278-€2,142€18,598within the sector's middle half▲ 768%€42,314within the sector's middle half▲ 128%€59,560within the sector's middle half▲ 40.8%€14,988within the sector's middle half▼ 74.8%€12,660below the sector's middle half▼ 15.5%€11,998below the sector's middle half▼ 5.2%
Total assets€8,706-€13,847▲ 59.1%€22,253below the sector's middle half▲ 60.7%€48,013below the sector's middle half▲ 116%€65,864within the sector's middle half▲ 37.2%€22,496below the sector's middle half▼ 65.8%€16,665below the sector's middle half▼ 25.9%€16,861below the sector's middle half▲ 1.2%
Debt€20,984-€11,706▼ 44.2%€3,655▼ 68.8%€5,699▲ 55.9%€6,305▲ 10.6%€7,508▲ 19.1%€4,005▼ 46.7%€4,863▲ 21.4%
Working capital-€10,278-€2,142€18,598within the sector's middle half▲ 768%€42,314within the sector's middle half▲ 128%€59,560within the sector's middle half▲ 40.8%€14,988within the sector's middle half▼ 74.8%€15,903within the sector's middle half▲ 6.1%€15,904within the sector's middle half=
Solvency-141.0%-15.5%▲ 156.5pp83.6%above the sector's middle half▲ 68.1pp88.1%above the sector's middle half▲ 4.6pp90.4%above the sector's middle half▲ 2.3pp66.6%within the sector's middle half▼ 23.8pp76.0%above the sector's middle half▲ 9.3pp71.2%within the sector's middle half▼ 4.8pp
Current ratio0.46-1.18▲ 0.726.09above the sector's middle half▲ 4.918.43above the sector's middle half▲ 2.3410.45above the sector's middle half▲ 2.023.00within the sector's middle half▼ 7.4521.89above the sector's middle half▲ 18.8917.61above the sector's middle half▼ 4.28
Return on assets (ROA)-131.6%-104.1%▲ 235.7pp74.0%above the sector's middle half▼ 30.2pp49.4%above the sector's middle half▼ 24.6pp26.2%above the sector's middle half▼ 23.2pp61.9%above the sector's middle half▲ 35.7pp-14.0%below the sector's middle half▼ 75.9pp-3.9%below the sector's middle half▲ 10.0pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 a loss of €523, smaller than the loss of €2,370 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €16,861
Equity
€11,998 ▼ 5.2%
Debt
€4,863 ▲ 21.4%
Debt's share of the balance-sheet total rises from 24.0% to 28.8%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.41▲
2024 · 0.32
ROE
-5.5%▲
2024 · -18.4%
Debt ≤ 1 year
€958▲
2024 · €761
Debt > 1 year
€3,905▲
2024 · €3,244
Income taxes
€0▲
2024 · -€203
Staff costs
€0▼
2024 · €3
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €24,315 | €28,587 | €21,939 | €3 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €0 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €880 | €0 | - | - | - |
| Gross operating margin9900 | €53,156 | €57,660 | €59,311 | €47,607 | €47,014 | €42,959 | -€1,979 | -€124 | ▲ 93.8% |
| Operating profit (loss)9901 | -€11,230 | €14,735 | €16,479 | €22,944 | €17,199 | €20,636 | -€2,370 | -€523 | ▲ 77.9% |
| Financial income75/76B | - | - | - | €893 | €2,321 | €0 | - | - | - |
| Recurring financial income75 | - | €0 | €65 | €893 | €2,321 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €120 | €160 | €159 | €162 | €138 | ▼ 14.7% |
| Recurring financial charges65 | €227 | €315 | €88 | €120 | €160 | €159 | €162 | €138 | ▼ 14.7% |
| Profit (loss) for the period before taxes9903 | -€11,457 | €14,420 | €16,456 | €23,716 | €19,361 | €20,476 | -€2,531 | -€662 | ▲ 73.9% |
| Income taxes67/77 | - | - | - | - | €2,115 | €6,548 | -€203 | €0 | - |
| Profit (loss) for the period9904 | -€11,457 | €14,420 | €16,456 | €23,716 | €17,245 | €13,929 | -€2,329 | -€662 | ▲ 71.6% |
| Profit (loss) for the period to be appropriated9905 | -€11,457 | €14,420 | €16,456 | €23,716 | €17,245 | €13,929 | -€2,329 | -€662 | ▲ 71.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8,706 | €13,847 | €22,253 | €48,013 | €65,864 | €22,496 | €16,665 | €16,861 | ▲ 1.2% |
| Fixed assets21/28 | - | €0 | €0 | €0 | €0 | €0 | - | - | - |
| Intangible fixed assets21 | - | €0 | €0 | €0 | €0 | €0 | - | - | - |
| Current assets29/58 | €8,706 | €13,847 | €22,253 | €48,013 | €65,864 | €22,496 | €16,665 | €16,861 | ▲ 1.2% |
| Amounts receivable within one year40/41 | €8,706 | €8,460 | €6,772 | €46,481 | €64,679 | €531 | €0 | €6,000 | - |
| Trade receivables40 | - | - | - | €9,117 | €5,943 | €531 | €0 | €6,000 | - |
| Other amounts receivable41 | - | - | - | €37,364 | €58,736 | €0 | - | - | - |
| Cash at bank and in hand54/58 | - | €5,388 | €15,480 | €1,532 | €1,186 | €21,965 | €16,665 | €10,861 | ▼ 34.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8,706 | €13,847 | €22,253 | €48,013 | €65,864 | €22,496 | €16,665 | €16,861 | ▲ 1.2% |
| Equity10/15 | -€12,278 | €2,142 | €18,598 | €42,314 | €59,560 | €14,988 | €12,660 | €11,998 | ▼ 5.2% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €3,000 | €3,000 | €3,000 | = |
| Capital10 | - | - | - | €61,500 | €61,500 | - | - | - | - |
| Issued capital100 | - | - | - | €61,500 | €61,500 | - | - | - | - |
| Reserves13 | €1,424 | €1,424 | €1,424 | €1,424 | €1,424 | €1,424 | €1,424 | €1,424 | = |
| Non-distributable reserves130/1 | - | - | - | €1,424 | €1,424 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,424 | €1,424 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,424 | €1,424 | €1,424 | = |
| Profit (loss) carried forward14 | -€75,202 | -€60,782 | -€44,326 | -€20,610 | -€3,364 | €10,564 | €8,236 | €7,574 | ▼ 8.0% |
| Amounts payable17/49 | €20,984 | €11,706 | €3,655 | €5,699 | €6,305 | €7,508 | €4,005 | €4,863 | ▲ 21.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €3,244 | €3,905 | ▲ 20.4% |
| Other amounts payable178/9 | - | - | - | - | - | - | €3,244 | €3,905 | ▲ 20.4% |
| Amounts payable within one year42/48 | €18,984 | €11,706 | €3,655 | €5,699 | €6,305 | €7,508 | €761 | €958 | ▲ 25.8% |
| Trade debts44 | - | - | - | - | €192 | €1,703 | €0 | - | - |
| Suppliers440/4 | - | - | - | - | €192 | €1,703 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €5,699 | €6,113 | €4,169 | €761 | €958 | ▲ 25.8% |
| Taxes450/3 | - | - | - | €2,729 | €3,007 | €4,169 | €761 | €958 | ▲ 25.8% |
| Remuneration and social security454/9 | - | - | - | €2,969 | €3,106 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €1,636 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,457 | €14,420 | €16,456 | €23,716 | €17,245 | €13,929 | -€2,329 | -€662 | ▲ 71.6% |
| + Depreciation and write-downs630 | - | - | - | - | - | €0 | €0 | - | - |
| Operating cash flow (approximation) | -€11,457 | €14,420 | €16,456 | €23,716 | €17,245 | €13,929 | -€2,329 | -€662 | ▲ 71.6% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | €0 | - | - | - |
| Change in cash | - | - | €10,093 | -€13,948 | -€347 | €20,780 | -€5,301 | -€5,804 | ▼ 9.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as DEVLOPMENT & SEMINARS has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEVLOPMENT & SEMINARS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for DEVLOPMENT & SEMINARS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00159831 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00143560 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00223296 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00274817 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20249200 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38800424 | |
| 31-12-2019 | micro format | 27-08-2020 | 2020-45900563 | |
| 31-12-2018 | full format | 19-08-2019 | 2019-49100378 | |
| 31-12-2017 | full format | 21-08-2018 | 2018-47900062 | |
| 31-12-2016 | full format | 28-07-2017 | 2017-38900523 |