Financials · financial year 2025, full format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 30 filings
Turnover
€1.3m▲ 20.1%
2024 · €1.0m
EBIT margin
20.6%▼ 0.8pp
2024 · 21.4%
Net result
€215,124▼ 22.9%
2024 · €279,042
Working capital
€663,403▲ 20.2%
2024 · €551,871
In the rankings
#2 company by equity in Meise, Transport and storage sector#3 company by total assets in Meise, Transport and storage sector#10 oldest company in Meise, Transport and storage sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€1.3m
▲ 20.1%
2025
20182025
Operating result
€258,342
▲ 15.6%
2025
20182025
Net result
€215,124
▼ 22.9%
2025
middle half of the sector
20182025
EBIT margin
20.6%
▼ 0.8pp
2025
20182025
Equity
€2.2m
▲ 5.4%
2025
middle half of the sector
20182025
Total assets
€2.6m
▲ 6.1%
2025
middle half of the sector
20182025
Debt
€406,956
▲ 9.6%
2025
20182025
Working capital
€663,403
▲ 20.2%
2025
middle half of the sector
20182025
Solvency
84.1%
▼ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
2.63
▲ 0.15
2025
highest quarter of the sector
20182025
Return on assets (ROA)
8.4%
▼ 3.1pp
2025
highest quarter of the sector
20182025
Staff (FTE)
1.7
▲ 70.0%
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
Turnover€0.9m-€0.8m▼ 2.7%€0.8m▼ 9.3%€0.8m▲ 10.6%€0.9m▲ 9.2%€0.9m▼ 7.6%€1.0m▲ 22.1%€1.3m▲ 20.1%
Operating result€0.1m-€0.1m▲ 2.9%€0.09m▼ 31.8%€0.1m▲ 16.4%€0.1m▼ 1.1%€0.1m▲ 18.0%€0.2m▲ 74.6%€0.3m▲ 15.6%
Net result€0.08m-€0.4m▲ 360%-€0.03mbelow the sector's middle half€0.09mwithin the sector's middle half€0.09mwithin the sector's middle half▼ 5.4%€0.1mwithin the sector's middle half▲ 14.9%€0.3mabove the sector's middle half▲ 177%€0.2mwithin the sector's middle half▼ 22.9%
EBIT margin15.5%-16.4%▲ 0.9pp12.3%▼ 4.1pp12.9%▲ 0.6pp11.7%▼ 1.2pp15.0%▲ 3.2pp21.4%▲ 6.4pp20.6%▼ 0.8pp
Equity€2.5m-€2.8m▲ 11.3%€2.6mabove the sector's middle half▼ 5.0%€2.6mabove the sector's middle half▼ 0.4%€1.9mabove the sector's middle half▼ 28.2%€1.9mwithin the sector's middle half▼ 0.2%€2.0mwithin the sector's middle half▲ 9.3%€2.2mwithin the sector's middle half▲ 5.4%
Total assets€2.9m-€3.1m▲ 8.0%€2.9mwithin the sector's middle half▼ 5.6%€2.9mwithin the sector's middle half▲ 0.9%€2.2mwithin the sector's middle half▼ 25.3%€2.2mwithin the sector's middle half▼ 1.2%€2.4mwithin the sector's middle half▲ 11.9%€2.6mwithin the sector's middle half▲ 6.1%
Debt€0.4m-€0.3m▼ 14.5%€0.3m▼ 11.1%€0.3m▲ 12.9%€0.3m▼ 1.7%€0.3m▼ 7.2%€0.4m▲ 28.1%€0.4m▲ 9.6%
Working capital€1.0m-€1.3m▲ 28.5%€1.1mabove the sector's middle half▼ 10.8%€1.1mabove the sector's middle half▼ 1.0%€0.4mwithin the sector's middle half▼ 66.0%€0.4mwithin the sector's middle half▼ 0.9%€0.6mwithin the sector's middle half▲ 46.5%€0.7mwithin the sector's middle half▲ 20.2%
Solvency87.0%-89.7%▲ 2.7pp90.3%above the sector's middle half▲ 0.6pp89.2%above the sector's middle half▼ 1.2pp85.7%above the sector's middle half▼ 3.4pp86.6%above the sector's middle half▲ 0.9pp84.7%above the sector's middle half▼ 1.9pp84.1%above the sector's middle half▼ 0.5pp
Current ratio3.66-5.00▲ 1.345.01above the sector's middle half▲ 0.014.52above the sector's middle half▼ 0.492.22above the sector's middle half▼ 2.302.30above the sector's middle half▲ 0.082.49above the sector's middle half▲ 0.192.63above the sector's middle half▲ 0.15
Return on assets (ROA)2.9%-12.5%▲ 9.6pp-1.1%below the sector's middle half▼ 13.7pp3.2%within the sector's middle half▲ 4.3pp4.0%within the sector's middle half▲ 0.8pp4.7%within the sector's middle half▲ 0.7pp11.5%above the sector's middle half▲ 6.9pp8.4%above the sector's middle half▼ 3.1pp
Staff (FTE)1-1=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1.7below the sector's middle half▲ 70.0%
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). 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 16% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€1.5m =
Current assets
€1.1m ▲ 15.9%
Equity and liabilities €2.6m
Equity
€2.2m ▲ 5.4%
Debt
€406,956 ▲ 9.6%
Debt's share of the balance-sheet total rises from 15.3% to 15.9%. Equity and debt are higher.
Key figures and ratios
ROE
10.0%▼
2024 · 13.6%
Debt ≤ 1 year
€406,548▲
2024 · €371,195
Income taxes
€72,864▼
2024 · €97,499
Staff costs
€114,665▲
2024 · €71,543
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 2 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1.6 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 | 1.7 |
| On a permanent contract | 1 | 1 | 1 | 1 | 2 |
| Joined | - | - | - | - | 1 |
| Left | - | - | - | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.8m | €0.9m | €0.9m | €1.0m | €1.3m | ▲ 20.1% |
| Turnover70 | €0.9m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | €1.3m | ▲ 20.1% |
| Other operating income74 | - | - | - | €62 | €62 | €0 | - | - | - |
| Operating charges60/66A | - | - | - | €0.7m | €0.8m | €0.7m | €0.8m | €1.0m | ▲ 21.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.7m | €0.7m | €0.6m | €0.7m | €0.9m | ▲ 17.6% |
| Purchases600/8 | - | - | - | €0.7m | €0.7m | €0.6m | €0.7m | €0.9m | ▲ 17.6% |
| Services and other goods61 | - | - | - | €0.004m | €0.007m | €0.005m | €0.005m | €0.006m | ▲ 30.0% |
| Remuneration, social security and pensions62 | - | - | - | €0.06m | €0.06m | €0.07m | €0.07m | €0.1m | ▲ 60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €395 | €395 | €395 | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.2% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 15.6% |
| Financial income75/76B | - | - | - | €0.01m | €0.009m | €0.007m | €0.2m | €0.03m | ▼ 80.0% |
| Recurring financial income75 | €0.02m | €0.3m | €0.03m | €0.01m | €0.009m | €0.007m | €0.2m | €0.03m | ▼ 80.0% |
| Income from financial fixed assets750 | - | - | - | €0.01m | - | - | €0.2m | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | - | €0.009m | €0.007m | €0.001m | €0.03m | ▲ 38× |
| Other financial income752/9 | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €215 | €473 | €0.001m | €0.001m | €0.001m | ▲ 100% |
| Recurring financial charges65 | €0.03m | -€0.007m | €0.1m | €215 | €473 | €0.001m | €0.001m | €0.001m | ▲ 100% |
| Debt charges650 | €0.007m | €0.006m | €118 | €191 | €449 | €0.001m | €493 | €215 | ▼ 56.3% |
| Other financial charges652/9 | - | - | - | €23 | €24 | €24 | €28 | €0.001m | ▲ 30× |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.4m | €0.007m | €0.1m | €0.1m | €0.1m | €0.4m | €0.3m | ▼ 23.5% |
| Income taxes67/77 | €0.04m | €0.06m | €0.04m | €0.03m | €0.03m | €0.03m | €0.1m | €0.07m | ▼ 25.3% |
| Taxes670/3 | - | - | - | €0.03m | €0.03m | €0.03m | €0.1m | €0.07m | ▼ 25.3% |
| Profit (loss) for the period9904 | €0.08m | €0.4m | -€0.03m | €0.09m | €0.09m | €0.1m | €0.3m | €0.2m | ▼ 22.9% |
| Profit (loss) for the period to be appropriated9905 | €0.08m | €0.4m | -€0.03m | €0.09m | €0.09m | €0.1m | €0.3m | €0.2m | ▼ 22.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.9m | €3.1m | €2.9m | €2.9m | €2.2m | €2.2m | €2.4m | €2.6m | ▲ 6.1% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Tangible fixed assets22/27 | - | €0.001m | €395 | €0 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Affiliated companies280/1 | - | - | - | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Participating interests280 | - | - | - | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Current assets29/58 | €1.4m | €1.6m | €1.4m | €1.4m | €0.7m | €0.7m | €0.9m | €1.1m | ▲ 15.9% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €0.6m | €0.6m | = |
| Other amounts receivable291 | - | - | - | - | - | - | €0.6m | €0.6m | = |
| Stocks and contracts in progress3 | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 13.7% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 13.7% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.04m | €0.01m | €0 | - | - |
| Current investments50/53 | €1.0m | €0.8m | €0.8m | €0.9m | €0.3m | €0.4m | €0.03m | €0.03m | = |
| Other investments51/53 | - | - | - | €0.9m | €0.3m | €0.4m | €0.03m | €0.03m | = |
| Cash at bank and in hand54/58 | €0.2m | €0.7m | €0.4m | €0.3m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 66.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €0.004m | €0.03m | ▲ 800% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.9m | €3.1m | €2.9m | €2.9m | €2.2m | €2.2m | €2.4m | €2.6m | ▲ 6.1% |
| Equity10/15 | €2.5m | €2.8m | €2.6m | €2.6m | €1.9m | €1.9m | €2.0m | €2.2m | ▲ 5.4% |
| Contributions10/11 | €0.8m | €0.8m | €0.8m | €0.8m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.8m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.8m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.7m | €2.0m | €1.8m | €1.8m | €1.8m | €1.8m | €2.0m | €2.1m | ▲ 5.7% |
| Non-distributable reserves130/1 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Legal reserve130 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Distributable reserves133 | - | - | - | €1.8m | €1.7m | €1.7m | €1.9m | €2.0m | ▲ 6.0% |
| Profit (loss) carried forward14 | €0.02m | €0.002m | €0.009m | €0.004m | €0.002m | €0.003m | €0.003m | €236 | ▼ 92.4% |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 9.6% |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 9.5% |
| Financial debts43 | - | - | - | €0.02m | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.02m | €0 | - | - | - | - |
| Trade debts44 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 11.5% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 11.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.01m | €0.07m | €0.09m | ▲ 24.8% |
| Taxes450/3 | - | - | - | €0.003m | €0.003m | €0.003m | €0.06m | €0.07m | ▲ 15.7% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 67.6% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 0.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €408 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,841 | €385,335 | -€33,129 | €92,635 | €87,629 | €100,677 | €279,042 | €215,124 | ▼ 22.9% |
| + Depreciation and write-downs630 | - | €395 | €395 | €395 | €0 | - | - | - | - |
| Operating cash flow (approximation) | €83,841 | €385,730 | -€32,734 | €93,029 | €87,629 | €100,677 | €279,042 | €215,124 | ▼ 22.9% |
| Investment in fixed assets (approximation) | - | -€1,184 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €454,561 | -€274,027 | -€59,790 | -€204,176 | -€25,164 | €18,013 | €88,147 | ▲ 389% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 06-07-2026 | 2026-00255725 | |
| 31-12-2024 | full format | 28-07-2025 | 2025-00313962 | |
| 31-12-2023 | full format | 26-07-2024 | 2024-00286682 | |
| 31-12-2022 | full format | 30-06-2023 | 2023-00207562 | |
| 31-12-2021 | full format | 29-07-2022 | 2022-20265382 | |
| 31-12-2020 | full format | 22-07-2021 | 2021-38000298 | |
| 31-12-2019 | full format | 17-08-2020 | 2020-41300591 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-55500269 | |
| 31-12-2017 | full format | 23-07-2018 | 2018-35600364 | |
| 31-12-2016 | full format | 07-08-2017 | 2017-41100420 |