DOUTRY WOUTER
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00438229.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 4 filings
Turnover
≈ €150,000
Estimated: probably between €110,000 and €190,000
Total assets
€276,493▲ 20.9%
2024 · €228,686
Net result
€52,393▲ 52.5%
2024 · €34,356
Working capital
€15,632
2024 · -€18,210
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€56,979
▲ 15.5%
2025
20222025
Net result
€52,393
▲ 52.5%
2025
middle half of the sector
20222025
Equity
€213,099
▲ 32.6%
2025
middle half of the sector
20222025
Total assets
€276,493
▲ 20.9%
2025
middle half of the sector
20222025
Debt
€63,394
▼ 6.7%
2025
20222025
Working capital
€15,632
2025
middle half of the sector
20222025
Solvency
77.1%
▲ 6.8pp
2025
middle half of the sector
20222025
Current ratio
1.25
▲ 0.59
2025
middle half of the sector
20222025
Return on assets (ROA)
18.9%
▲ 3.9pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€59,998-€44,217▼ 26.3%€49,343▲ 11.6%€56,979▲ 15.5%
Net result€77,432above the sector's middle half-€31,318within the sector's middle half▼ 59.6%€34,356within the sector's middle half▲ 9.7%€52,393within the sector's middle half▲ 52.5%
Equity€96,632within the sector's middle half-€127,150within the sector's middle half▲ 31.6%€160,706within the sector's middle half▲ 26.4%€213,099within the sector's middle half▲ 32.6%
Total assets€183,302within the sector's middle half-€218,946within the sector's middle half▲ 19.4%€228,686within the sector's middle half▲ 4.4%€276,493within the sector's middle half▲ 20.9%
Debt€86,670-€91,796▲ 5.9%€67,980▼ 25.9%€63,394▼ 6.7%
Working capital€6,267within the sector's middle half--€19,042below the sector's middle half-€18,210below the sector's middle half▲ 4.4%€15,632within the sector's middle half
Solvency52.7%within the sector's middle half-58.1%within the sector's middle half▲ 5.4pp70.3%within the sector's middle half▲ 12.2pp77.1%within the sector's middle half▲ 6.8pp
Current ratio1.20within the sector's middle half-0.66below the sector's middle half▼ 0.540.65below the sector's middle half▼ 0.011.25within the sector's middle half▲ 0.59
Return on assets (ROA)42.2%above the sector's middle half-14.3%within the sector's middle half▼ 27.9pp15.0%within the sector's middle half▲ 0.7pp18.9%within the sector's middle half▲ 3.9pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 15% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €276,493
Fixed assets
€197,467 ▲ 1.6%
Current assets
€79,026 ▲ 130%
Equity and liabilities €276,493
Equity
€213,099 ▲ 32.6%
Debt
€63,394 ▼ 6.7%
Debt's share of the balance-sheet total falls from 29.7% to 22.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€72,875▲
2024 · €61,386
Cash flow
€68,289▲
2024 · €46,399
Debt to equity
0.30▼
2024 · 0.42
ROE
24.6%▲
2024 · 21.4%
Interest coverage
35.39▲
2024 · 33.45
Debt ≤ 1 year
€63,394▲
2024 · €52,598
Income taxes
€19,027▲
2024 · €13,152
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €10,000 | €43,867 | €24,470 | €2,565 |
| Financial fixed assets | €138,500 | - | - | €16,500 |
| Depreciation and write-downs of the year | €2,400 | €8,096 | €12,043 | €15,896 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,400 | €8,096 | €12,043 | €15,896 | ▲ 32.0% |
| Gross operating margin9900 | €62,398 | €52,313 | €61,386 | €72,875 | ▲ 18.7% |
| Operating profit (loss)9901 | €59,998 | €44,217 | €49,343 | €56,979 | ▲ 15.5% |
| Financial income75/76B | €38,500 | - | - | €16,500 | - |
| Recurring financial income75 | €38,500 | - | - | €16,500 | - |
| Financial charges65/66B | €1,403 | €906 | €1,835 | €2,059 | ▲ 12.2% |
| Recurring financial charges65 | €1,403 | €906 | €1,835 | €2,059 | ▲ 12.2% |
| Profit (loss) for the period before taxes9903 | €97,095 | €43,311 | €47,508 | €71,420 | ▲ 50.3% |
| Income taxes67/77 | €19,663 | €11,993 | €13,152 | €19,027 | ▲ 44.7% |
| Profit (loss) for the period9904 | €77,432 | €31,318 | €34,356 | €52,393 | ▲ 52.5% |
| Profit (loss) for the period to be appropriated9905 | €77,432 | €31,318 | €34,356 | €52,393 | ▲ 52.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €183,302 | €218,946 | €228,686 | €276,493 | ▲ 20.9% |
| Fixed assets21/28 | €146,100 | €181,871 | €194,298 | €197,467 | ▲ 1.6% |
| Tangible fixed assets22/27 | €7,600 | €43,371 | €55,798 | €42,467 | ▼ 23.9% |
| Furniture and vehicles24 | €7,600 | €43,371 | €55,798 | €42,467 | ▼ 23.9% |
| Financial fixed assets28 | €138,500 | €138,500 | €138,500 | €155,000 | ▲ 11.9% |
| Current assets29/58 | €37,202 | €37,075 | €34,388 | €79,026 | ▲ 130% |
| Amounts receivable within one year40/41 | €43 | €1 | €6 | - | - |
| Other amounts receivable41 | €43 | €1 | €6 | - | - |
| Cash at bank and in hand54/58 | €37,011 | €37,074 | €34,382 | €78,867 | ▲ 129% |
| Deferred charges and accrued income490/1 | €148 | - | - | €159 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €183,302 | €218,946 | €228,686 | €276,493 | ▲ 20.9% |
| Equity10/15 | €96,632 | €127,150 | €160,706 | €213,099 | ▲ 32.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €76,632 | €107,150 | €140,706 | €193,099 | ▲ 37.2% |
| Distributable reserves133 | €76,632 | €107,150 | €140,706 | €193,099 | ▲ 37.2% |
| Amounts payable17/49 | €86,670 | €91,796 | €67,980 | €63,394 | ▼ 6.7% |
| Amounts payable after more than one year17 | €55,735 | €35,679 | €15,382 | - | - |
| Financial debts170/4 | €55,735 | €35,679 | €15,382 | - | - |
| Amounts payable within one year42/48 | €30,935 | €56,117 | €52,598 | €63,394 | ▲ 20.5% |
| Current portion of amounts payable after more than one year42 | €19,820 | €20,056 | €20,297 | €15,382 | ▼ 24.2% |
| Trade debts44 | €149 | €7,644 | €4,012 | €9,749 | ▲ 143% |
| Suppliers440/4 | €149 | €7,644 | €4,012 | €9,749 | ▲ 143% |
| Taxes, remuneration and social security45 | €9,701 | €28,417 | €7,024 | €18,278 | ▲ 160% |
| Taxes450/3 | €9,701 | €7,152 | €7,024 | €15,978 | ▲ 127% |
| Remuneration and social security454/9 | - | €21,265 | - | €2,300 | - |
| Other amounts payable47/48 | €1,265 | - | €21,265 | €19,985 | ▼ 6.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €77,432 | €31,318 | €34,356 | €52,393 | ▲ 52.5% |
| + Depreciation and write-downs630 | €2,400 | €8,096 | €12,043 | €15,896 | ▲ 32.0% |
| Operating cash flow (approximation) | €79,832 | €39,414 | €46,399 | €68,289 | ▲ 47.2% |
| Investment in fixed assets (approximation) | - | -€43,867 | -€24,470 | -€19,065 | ▲ 22.1% |
| Change in cash | - | €63 | -€2,692 | €44,485 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.