EAGLE
InactiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-04-2026 PDF all 16 filings
Turnover
€1.7m
EBIT margin
4.3%
Net result
€49,679▲ 848%
2024 · €5,239
Working capital
€31,373
2024 · -€21,424
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€79,103
▲ 146%
2025
20182025
Net result
€49,679
▲ 848%
2025
20182025
EBIT margin
no figure
2025
20182025
Equity
€109,861
▲ 82.5%
2025
20182025
Total assets
€428,890
▼ 1.1%
2025
20182025
Debt
€319,029
▼ 14.6%
2025
20182025
Working capital
€31,373
2025
20182025
Staff (FTE)
24.7
▼ 22.3%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.7m
Operating result€0.04m-€0.009m▼ 79.2%-€0.06m€0.02m€0.07m▲ 213%€0.05m▼ 33.7%€0.03m▼ 34.8%€0.08m▲ 146%
Net result€0.03m-€0.002m▼ 93.2%-€0.06m€0.02m€0.05m▲ 139%€0.03m▼ 39.9%€0.005m▼ 83.2%€0.05m▲ 848%
EBIT margin4.3%
Equity€0.1m-€0.1m▲ 1.3%€0.06m▼ 50.8%€0.08m▲ 34.7%€0.1m▲ 46.6%€0.05m▼ 55.4%€0.06m▲ 9.5%€0.1m▲ 82.5%
Total assets€0.3m-€0.3m▲ 5.1%€0.3m▼ 23.4%€0.3m▲ 7.0%€0.4m▲ 53.0%€0.5m▲ 23.2%€0.4m▼ 18.6%€0.4m▼ 1.1%
Debt€0.2m-€0.2m▲ 7.5%€0.2m▼ 7.5%€0.2m▼ 1.6%€0.3m▲ 55.8%€0.5m▲ 54.5%€0.4m▼ 21.8%€0.3m▼ 14.6%
Working capital€0.02m-€0.003m▼ 82.1%-€0.06m-€0.03m▲ 47.6%€0.02m-€0.03m-€0.02m▲ 36.0%€0.03m
Staff (FTE)15.7-19▲ 21.0%21.8▲ 14.7%28.2▲ 29.4%31.4▲ 11.3%28.2▼ 10.2%31.8▲ 12.8%24.7▼ 22.3%
The operating result for 2025 is 146% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €428,890
Fixed assets
€104,247 ▼ 20.9%
Current assets
€324,644 ▲ 7.4%
Equity and liabilities €428,890
Equity
€109,861 ▲ 82.5%
Debt
€319,029 ▼ 14.6%
Debt's share of the balance-sheet total falls from 86.1% to 74.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€127,759▲
2024 · €83,121
Cash flow
€98,335▲
2024 · €56,269
Current ratio
1.11▲
2024 · 0.93
Debt to equity
2.90▼
2024 · 6.21
ROE
45.2%▲
2024 · 8.7%
ROA
11.6%▲
2024 · 1.2%
Interest coverage
11.92▲
2024 · 7.33
Debt ≤ 1 year
€293,270▼
2024 · €323,587
Debt > 1 year
€21,356▼
2024 · €47,250
Income taxes
€20,184▲
2024 · €18,897
Staff costs
€768,956▼
2024 · €1.3m
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 | 30-09-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 35 | 33 | 31 | 34 | 25 |
| full-time | 5 | 1 | 1 | 1 | 0 |
| part-time | 30 | 32 | 30 | 33 | 25 |
| in full-time equivalents | 31.4 | 30.5 | 28.4 | 31.2 | 21.7 |
| Average over the year, in full-time equivalents | 28.2 | 31.4 | 28.2 | 30.4 | 24.7 |
| On a permanent contract | 35 | 33 | 30 | 29 | 21 |
| Joined | 27 | 22 | 9 | 17 | 9 |
| Left | 22 | 24 | 11 | 14 | 12 |
| Training hours | - | - | - | 244 | 231 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Mandates to pledge the business | - | - | - | €70,000 | €70,000 |
| Pledge on other assets, amount secured | - | - | - | €50,000 | €50,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €24,879 | €116,548 | €22,049 | €52,234 | €21,186 |
| Financial fixed assets | - | - | €8 | - | - |
| Depreciation and write-downs of the year | €34,204 | €38,556 | €45,206 | €51,030 | €48,655 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €30,601 awarded · €30,601 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €116 | €116 |
| 2024 | 1 | €5,114 | €5,114 |
| 2023 | 1 | €11,772 | €11,772 |
| 2022 | 1 | €13,599 | €13,599 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €1.7m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €0.02m | €0 | €0.02m | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €0.4m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.0m | €1.2m | €1.2m | €1.3m | €0.8m | ▼ 38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | €0.05m | €0.05m | €0.05m | ▼ 4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | -€0.002m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.005m | €0.01m | €0.004m | €0.003m | €0.003m | ▼ 22.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.002m | €485 | €0 | ▼ 100% |
| Gross operating margin9900 | €0.7m | €0.8m | €0.7m | €1.1m | €1.4m | €1.3m | €1.3m | €0.9m | ▼ 33.1% |
| Operating profit (loss)9901 | €0.04m | €0.009m | -€0.06m | €0.02m | €0.07m | €0.05m | €0.03m | €0.08m | ▲ 146% |
| Financial income75/76B | - | - | - | €6 | €2 | €0.002m | €0.003m | €0.001m | ▼ 56.4% |
| Recurring financial income75 | €0 | €11 | €193 | €6 | €2 | €0.002m | €0.003m | €0.001m | ▼ 56.4% |
| Financial charges65/66B | - | - | - | €0.002m | €0.006m | €0.008m | €0.01m | €0.01m | ▼ 5.5% |
| Recurring financial charges65 | €0.003m | €0.002m | €0.001m | €0.002m | €0.006m | €0.008m | €0.01m | €0.01m | ▼ 5.5% |
| Profit (loss) for the period before taxes9903 | €0.04m | €0.007m | -€0.06m | €0.02m | €0.07m | €0.04m | €0.02m | €0.07m | ▲ 189% |
| Income taxes67/77 | €0.02m | €0.006m | -€306 | €146 | €0.02m | €0.01m | €0.02m | €0.02m | ▲ 6.8% |
| Profit (loss) for the period9904 | €0.03m | €0.002m | -€0.06m | €0.02m | €0.05m | €0.03m | €0.005m | €0.05m | ▲ 848% |
| Profit (loss) for the period to be appropriated9905 | €0.03m | €0.002m | -€0.06m | €0.02m | €0.05m | €0.03m | €0.005m | €0.05m | ▲ 848% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €328,215 | €345,064 | €264,215 | €282,702 | €432,628 | €533,084 | €433,878 | €428,890 | ▼ 1.1% |
| Fixed assets21/28 | €143,074 | €123,721 | €126,146 | €116,299 | €154,145 | €130,996 | €131,716 | €104,247 | ▼ 20.9% |
| Intangible fixed assets21 | €133,100 | €110,700 | €88,300 | €65,900 | €50,500 | €35,100 | €19,700 | €8,150 | ▼ 58.6% |
| Tangible fixed assets22/27 | €6,239 | €9,285 | €34,825 | €47,378 | €100,624 | €92,867 | €108,987 | €93,068 | ▼ 14.6% |
| Plant, machinery and equipment23 | - | - | - | €14,526 | €11,953 | €8,358 | €51,971 | €55,478 | ▲ 6.7% |
| Furniture and vehicles24 | - | - | - | €18,795 | €14,555 | €26,299 | €14,711 | €7,215 | ▼ 51.0% |
| Leasing and similar rights25 | - | - | - | - | €61,496 | €47,026 | €32,557 | €21,705 | ▼ 33.3% |
| Other tangible fixed assets26 | - | - | - | €14,057 | €12,621 | €11,184 | €9,748 | €8,671 | ▼ 11.1% |
| Financial fixed assets28 | €3,735 | €3,735 | €3,020 | €3,020 | €3,020 | €3,028 | €3,028 | €3,028 | = |
| Current assets29/58 | €185,141 | €221,343 | €138,070 | €166,403 | €278,483 | €402,088 | €302,162 | €324,644 | ▲ 7.4% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €13,495 | €0 | - | - |
| Other amounts receivable291 | - | - | - | - | - | €13,495 | €0 | - | - |
| Amounts receivable within one year40/41 | €127,238 | €177,524 | €113,308 | €150,769 | €175,498 | €227,846 | €250,892 | €258,169 | ▲ 2.9% |
| Trade receivables40 | - | - | - | €150,024 | €170,958 | €199,692 | €184,311 | €189,022 | ▲ 2.6% |
| Other amounts receivable41 | - | - | - | €745 | €4,540 | €28,154 | €66,580 | €69,147 | ▲ 3.9% |
| Cash at bank and in hand54/58 | €57,903 | €43,819 | €21,539 | €156 | €84,567 | €150,921 | €36,250 | €45,821 | ▲ 26.4% |
| Deferred charges and accrued income490/1 | - | - | - | €15,478 | €18,418 | €9,825 | €15,021 | €20,654 | ▲ 37.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €328,215 | €345,064 | €264,215 | €282,702 | €432,628 | €533,084 | €433,878 | €428,890 | ▼ 1.1% |
| Equity10/15 | €125,261 | €126,950 | €62,412 | €84,073 | €123,235 | €54,943 | €60,182 | €109,861 | ▲ 82.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €117,551 | €117,551 | €90,551 | €90,551 | €77,919 | €29,033 | €29,033 | €29,033 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €2,600 | €2,600 | €2,600 | €2,600 | €2,600 | = |
| Distributable reserves133 | - | - | - | €86,091 | €73,459 | €24,573 | €24,573 | €24,573 | = |
| Profit (loss) carried forward14 | €1,510 | €3,199 | -€34,339 | -€12,678 | €39,116 | €19,710 | €24,949 | €74,628 | ▲ 199% |
| Amounts payable17/49 | €202,955 | €218,114 | €201,803 | €198,628 | €309,393 | €478,141 | €373,696 | €319,029 | ▼ 14.6% |
| Amounts payable after more than one year17 | €35,874 | - | €2,286 | - | €47,777 | €41,232 | €47,250 | €21,356 | ▼ 54.8% |
| Financial debts170/4 | - | - | - | - | €47,777 | €41,232 | €47,250 | €21,356 | ▼ 54.8% |
| Amounts payable within one year42/48 | €167,081 | €218,114 | €199,517 | €198,628 | €261,616 | €435,549 | €323,587 | €293,270 | ▼ 9.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,286 | €13,527 | €18,970 | €38,327 | €36,995 | ▼ 3.5% |
| Financial debts43 | - | - | - | €19,009 | €51,878 | €32,136 | €27,585 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €19,009 | €51,878 | €32,136 | €27,585 | €0 | ▼ 100% |
| Trade debts44 | €90,660 | €106,325 | €102,348 | €87,301 | €37,160 | €105,161 | €54,256 | €60,408 | ▲ 11.3% |
| Suppliers440/4 | - | - | - | €87,301 | €37,160 | €105,161 | €54,256 | €60,408 | ▲ 11.3% |
| Taxes, remuneration and social security45 | - | - | - | €90,006 | €159,024 | €194,779 | €203,157 | €152,482 | ▼ 24.9% |
| Taxes450/3 | - | - | - | €238 | €18,824 | €19,785 | €42,204 | €46,364 | ▲ 9.9% |
| Remuneration and social security454/9 | - | - | - | €89,768 | €140,200 | €174,994 | €160,953 | €106,118 | ▼ 34.1% |
| Other amounts payable47/48 | - | - | - | €27 | €27 | €84,504 | €261 | €43,386 | ▲ 166× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €1,360 | €2,860 | €4,403 | ▲ 54.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,000 | €1,689 | -€64,538 | €21,661 | €51,793 | €31,113 | €5,239 | €49,679 | ▲ 848% |
| + Depreciation and write-downs630 | €25,414 | €27,727 | €31,151 | €34,204 | €38,556 | €45,206 | €51,030 | €48,655 | ▼ 4.7% |
| Operating cash flow (approximation) | €50,414 | €29,416 | -€33,386 | €55,865 | €90,349 | €76,319 | €56,269 | €98,335 | ▲ 74.8% |
| Investment in fixed assets (approximation) | - | -€8,374 | -€33,576 | -€24,357 | -€76,402 | -€22,057 | -€51,750 | -€21,186 | ▲ 59.1% |
| Change in cash | - | -€14,084 | -€22,280 | -€21,383 | €84,411 | €66,354 | -€114,671 | €9,571 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 29-04-2026 | 2026-00098614 | |
| 31-12-2024 | abbreviated format | 12-06-2025 | 2025-00138523 | |
| 31-12-2023 | abbreviated format | 05-04-2024 | 2024-00058066 | |
| 31-12-2022 | abbreviated format | 22-08-2023 | 2023-00341736 | |
| 31-12-2021 | abbreviated format | 16-08-2022 | 2022-20292689 | |
| 31-12-2020 | abbreviated format | 23-08-2021 | 2021-52000199 | |
| 31-12-2019 | abbreviated format | 26-10-2020 | 2020-63400535 | |
| 31-12-2018 | abbreviated format | 19-08-2019 | 2019-47500376 | |
| 31-12-2017 | abbreviated format | 14-05-2018 | 2018-13000541 | |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-28000348 |