ENTRE 2
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 16 filings
Turnover
≈ €470,000
Estimated: probably between €390,000 and €830,000
EBIT margin
Not included in this filing
Net result
€139,829▲ 17×
2024 · €8,176
Working capital
€547,162▲ 30.9%
2024 · €417,894
In the rankings
#1 company by total assets in Limbourg, Professional and technical services sector#1 company by equity in Limbourg, Professional and technical services sector#6 oldest company in Limbourg, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€48,869
2025
20182025
Net result
€139,829
▲ 17×
2025
highest quarter of the sector
20182025
Equity
€2.8m
▲ 5.2%
2025
highest quarter of the sector
20182025
Total assets
€3.2m
▲ 1.3%
2025
highest quarter of the sector
20182025
Debt
€347,554
▼ 22.1%
2025
20182025
Working capital
€547,162
▲ 30.9%
2025
highest quarter of the sector
20182025
Solvency
89.1%
▲ 3.3pp
2025
highest quarter of the sector
20182025
Current ratio
2.63
▲ 0.67
2025
middle half of the sector
20182025
Return on assets (ROA)
4.4%
▲ 4.1pp
2025
middle half of the sector
20182025
Staff (FTE)
4
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.1m▼ 30.5%€0.1m▼ 8.6%€0.09m▼ 18.6%€0.08m▼ 12.7%-€0.02m-€0.006m▲ 67.6%€0.05m
Net result€0.3m-€1.3m▲ 375%€0.2mwithin the sector's middle half▼ 87.0%€0.1mwithin the sector's middle half▼ 24.3%-€0.1mbelow the sector's middle half€0.06mwithin the sector's middle half€0.008mwithin the sector's middle half▼ 86.2%€0.1mabove the sector's middle half▲ 17×
Equity€1.3m-€2.6m▲ 97.7%€2.7mabove the sector's middle half▲ 6.4%€2.9mabove the sector's middle half▲ 4.6%€2.7mabove the sector's middle half▼ 4.4%€2.8mabove the sector's middle half▲ 2.2%€2.7mabove the sector's middle half▼ 2.9%€2.8mabove the sector's middle half▲ 5.2%
Total assets€2.6m-€3.4m▲ 32.8%€3.5mwithin the sector's middle half▲ 2.4%€3.3mwithin the sector's middle half▼ 7.0%€3.1mabove the sector's middle half▼ 4.2%€3.0mabove the sector's middle half▼ 3.9%€3.2mabove the sector's middle half▲ 4.9%€3.2mabove the sector's middle half▲ 1.3%
Debt€1.3m-€0.9m▼ 32.8%€0.8m▼ 9.7%€0.4m▼ 47.6%€0.4m▼ 2.7%€0.2m▼ 45.5%€0.4m▲ 106%€0.3m▼ 22.1%
Working capital-€0.2m-€1.2m€1.3mabove the sector's middle half▲ 8.2%€1.1mabove the sector's middle half▼ 16.2%€1.3mabove the sector's middle half▲ 14.0%€1.3mabove the sector's middle half▲ 0.2%€0.4mabove the sector's middle half▼ 67.0%€0.5mabove the sector's middle half▲ 30.9%
Solvency50.2%-74.8%▲ 24.6pp77.8%above the sector's middle half▲ 3.0pp87.5%above the sector's middle half▲ 9.7pp87.3%above the sector's middle half▼ 0.2pp92.8%above the sector's middle half▲ 5.5pp85.8%above the sector's middle half▼ 6.9pp89.1%above the sector's middle half▲ 3.3pp
Current ratio0.57-6.47▲ 5.899.60above the sector's middle half▲ 3.138.48above the sector's middle half▼ 1.129.04above the sector's middle half▲ 0.567.99above the sector's middle half▼ 1.051.96within the sector's middle half▼ 6.032.63within the sector's middle half▲ 0.67
Return on assets (ROA)10.3%-37.0%▲ 26.6pp4.7%within the sector's middle half▼ 32.3pp3.8%within the sector's middle half▼ 0.9pp-4.0%below the sector's middle half▼ 7.8pp2.0%within the sector's middle half▲ 6.0pp0.3%below the sector's middle half▼ 1.7pp4.4%within the sector's middle half▲ 4.1pp
Staff (FTE)1-1=1below the sector's middle half=1below the sector's middle half=1.4▲ 40.0%4▲ 186%4=4=
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 a profit of €48,869, after a loss of €6,429 in 2024. It is the highest result since 2022.
Large changes and their cause
- 2025 Net result +1,610% on 2024. Merger absorbing QUADRA PARTNERS, Official Gazette 07-02-2024, in the previous financial year. That operation now counts for a full year for the first time.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.2m
Fixed assets
€2.3m ▲ 0.5%
Current assets
€882,220 ▲ 3.5%
Equity and liabilities €3.2m
Equity
€2.8m ▲ 5.2%
Debt
€347,554 ▼ 22.1%
Debt's share of the balance-sheet total falls from 14.2% to 10.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€82,387▲
2024 · €21,253
Cash flow
€173,347▲
2024 · €35,858
Debt to equity
0.12▼
2024 · 0.16
ROE
4.9%▲
2024 · 0.3%
Interest coverage
4.51▲
2024 · 3.49
Debt ≤ 1 year
€335,058▼
2024 · €434,106
Income taxes
€10,646▲
2024 · €5,210
Staff costs
€241,915▲
2024 · €225,308
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 | 3 | 4 | 4 | 4 |
| full-time | 1 | 3 | 4 | 4 | 4 |
| in full-time equivalents | 1 | 3 | 4 | 4 | 4 |
| Average over the year, in full-time equivalents | 1 | 1.4 | 4 | 4 | 4 |
| On a permanent contract | 1 | 3 | 4 | 4 | 4 |
| Joined | - | 2 | 1 | - | - |
| Left | - | 0 | 0 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €44,565 | - | €32,411 | €40,672 | €44,394 |
| Intangible fixed assets | - | - | €11,311 | - | - |
| Financial fixed assets | - | €1,460 | €867,697 | €750,000 | - |
| Depreciation and write-downs of the year | €48,965 | €35,576 | €35,663 | €27,682 | €33,518 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.004m | €0.001m | €0.007m | €0.001m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.04m | €0.07m | €0.2m | €0.2m | €0.2m | ▲ 7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.03m | €0.05m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 21.1% |
| Other operating charges640/8 | - | - | - | €0.005m | €0.004m | €0.006m | €0.005m | €0.008m | ▲ 45.2% |
| Gross operating margin9900 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 31.8% |
| Operating profit (loss)9901 | €0.2m | €0.1m | €0.1m | €0.09m | €0.08m | -€0.02m | -€0.006m | €0.05m | - |
| Financial income75/76B | - | - | - | €0.07m | €0.09m | €0.09m | €0.03m | €0.1m | ▲ 363% |
| Recurring financial income75 | €0.2m | €1.3m | €0.1m | €0.07m | €0.09m | €0.09m | €0.03m | €0.1m | ▲ 363% |
| Financial charges65/66B | - | - | - | €0.01m | €0.3m | €0.009m | €0.006m | €0.02m | ▲ 200% |
| Recurring financial charges65 | €0.06m | €0.08m | €0.02m | €0.01m | €0.3m | €0.009m | €0.006m | €0.02m | ▲ 200% |
| Profit (loss) for the period before taxes9903 | €0.3m | €1.3m | €0.2m | €0.1m | -€0.1m | €0.06m | €0.01m | €0.2m | ▲ 11× |
| Income taxes67/77 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.001m | €0.005m | €0.01m | ▲ 104% |
| Profit (loss) for the period9904 | €0.3m | €1.3m | €0.2m | €0.1m | -€0.1m | €0.06m | €0.008m | €0.1m | ▲ 17× |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €1.3m | €0.2m | €0.1m | -€0.1m | €0.06m | €0.008m | €0.1m | ▲ 17× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.6m | €3.4m | €3.5m | €3.3m | €3.1m | €3.0m | €3.2m | €3.2m | ▲ 1.3% |
| Fixed assets21/28 | €2.4m | €2.0m | €2.0m | €2.0m | €1.7m | €1.6m | €2.3m | €2.3m | ▲ 0.5% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 1.6% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 3.6% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.03m | €0.02m | €0.03m | €0.06m | ▲ 117% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.005m | - | - | - |
| Financial fixed assets28 | €1.6m | €1.3m | €1.3m | €1.3m | €1.0m | €0.9m | €1.6m | €1.6m | = |
| Current assets29/58 | €0.2m | €1.4m | €1.5m | €1.3m | €1.4m | €1.4m | €0.9m | €0.9m | ▲ 3.5% |
| Amounts receivable within one year40/41 | €0.04m | €0.04m | €0.05m | €0.1m | €0.1m | €0.2m | €0.5m | €0.6m | ▲ 17.6% |
| Trade receivables40 | - | - | - | €0.02m | €0.04m | €0.06m | €0.07m | €0.1m | ▲ 47.8% |
| Other amounts receivable41 | - | - | - | €0.08m | €0.1m | €0.2m | €0.4m | €0.5m | ▲ 12.8% |
| Cash at bank and in hand54/58 | €0.2m | €1.4m | €1.4m | €1.2m | €1.3m | €1.2m | €0.4m | €0.3m | ▼ 17.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.002m | €0.001m | €0.01m | ▲ 722% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.6m | €3.4m | €3.5m | €3.3m | €3.1m | €3.0m | €3.2m | €3.2m | ▲ 1.3% |
| Equity10/15 | €1.3m | €2.6m | €2.7m | €2.9m | €2.7m | €2.8m | €2.7m | €2.8m | ▲ 5.2% |
| Contributions10/11 | €0.3m | €0.3m | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.03m | €0.03m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.1m | €0.1m | €0.03m | €0.03m | = |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.1m | €0.1m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €0.09m | - | - | - | - | - |
| Profit (loss) carried forward14 | €0.9m | €2.2m | €2.3m | €2.5m | €2.3m | €2.4m | €2.4m | €2.6m | ▲ 5.8% |
| Amounts payable17/49 | €1.3m | €0.9m | €0.8m | €0.4m | €0.4m | €0.2m | €0.4m | €0.3m | ▼ 22.1% |
| Amounts payable after more than one year17 | €0.9m | €0.6m | €0.6m | €0.3m | €0.2m | €0.03m | €0.01m | - | - |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.03m | €0.01m | - | - |
| Amounts payable within one year42/48 | €0.4m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.4m | €0.3m | ▼ 22.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 58.5% |
| Trade debts44 | €0.07m | - | €0.002m | €0.002m | €0.008m | €0.003m | €0.05m | €0.003m | ▼ 93.0% |
| Suppliers440/4 | - | - | - | €0.002m | €0.008m | €0.003m | €0.05m | €0.003m | ▼ 93.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.05m | €0.07m | €0.07m | €0.07m | ▼ 5.6% |
| Taxes450/3 | - | - | - | €0.01m | €0.03m | €0.03m | €0.04m | €0.02m | ▼ 40.0% |
| Remuneration and social security454/9 | - | - | - | €0.009m | €0.02m | €0.04m | €0.03m | €0.05m | ▲ 32.9% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.08m | €0.08m | €0.3m | €0.3m | ▼ 13.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.002m | €0.003m | €0.002m | €0.01m | ▲ 409% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €1.3m | €0.2m | €0.1m | -€0.1m | €0.06m | €0.008m | €0.1m | ▲ 17× |
| + Depreciation and write-downs630 | €0.03m | €0.03m | €0.03m | €0.05m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 21.1% |
| Operating cash flow (approximation) | €0.3m | €1.3m | €0.2m | €0.2m | -€0.09m | €0.09m | €0.04m | €0.2m | ▲ 383% |
| Investment in fixed assets (approximation) | - | €0.4m | -€0.08m | -€0.02m | €0.3m | €0.1m | -€0.8m | -€0.04m | ▲ 94.2% |
| Change in cash | - | €1.2m | €0.02m | -€0.3m | €0.1m | -€0.07m | -€0.8m | -€0.06m | ▲ 92.3% |
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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-06-2026 | 2026-00204591 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00329602 | |
| 31-12-2023 | micro format | 20-06-2024 | 2024-00145553 | |
| 31-12-2022 | micro format | 16-02-2023 | 2023-00028785 | |
| 31-12-2021 | full format | 24-06-2022 | 2022-20089347 | |
| 31-12-2020 | full format | 08-06-2021 | 2021-18100033 | |
| 31-12-2019 | micro format | 25-05-2020 | 2020-12800451 | |
| 31-12-2018 | micro format | 29-04-2019 | 2019-11400137 | |
| 31-12-2017 | full format | 29-05-2018 | 2018-14600012 | |
| 31-12-2016 | full format | 30-05-2017 | 2017-13800059 |