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EQUATION

Active Private limited companyfounded 2013active for 13 yearsSint-Pankraasstraat 14, 3700 Tongeren-BorgloonKBO/BCE: BE 0537.240.735
EQUATION
Financial year 2025
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Annual accounts 2025

micro format, filed on 03-07-2026, 28 days before the deadline
€70,250
▲ 46.3%
€68,292
▲ 47.8%
€53,686
▲ 38.1%
€54,655
▼ 39.5%
49.9%
▼ 44.9 percentage points
1.83
▼ 15.17

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €130,000. Estimated: probably between €120,000 and €180,000.

Balance sheet

balance sheet total €132,051 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

49.9%

Higher than 41% of 21,208 companies in 2025.

1.83

Higher than 40% of 20,571 companies in 2025.

40.7%

Higher than 78% of 20,746 companies in 2025.

EQUATION Middle half of the sector 80% of the sector Micro accounts in computer programming and consultancy (NACE 62)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020201920182017201620152014
Balance sheet: assets
20/58 132,051109,102114,33592,39185,30993,53656,73760,665150,400126,07298,16870,366
21/28 11,25113,1471,4711,6381,7091,9221244482,8692,5832,7582,992
22/27 11,24113,1371,4711,6381,7091,922124448468182357591
23 -76191307422538------
24 11,24113,0621,2801,3321,2871,384124448468182357591
28 1010------2,4012,4012,4012,401
29/58 120,80095,955112,86490,75283,60091,61456,61460,216147,531123,48995,41067,374
29 -----------461
290 -----------461
40/41 38,45850,49330,66229,25236,08137,99035,16034,76638,89435,65627,96435,456
40 35,41648,77330,66228,79833,03335,39327,53628,64729,49426,74125,16828,314
41 3,0411,720-4543,0482,5977,6246,1199,4018,9152,7967,142
54/58 81,19244,31281,05244,11343,72249,84920,28224,300108,33687,53367,14631,157
490/1 1,1501,1501,15017,3873,7973,7751,1721,150300300300300
Balance sheet: equity and liabilities
10/49 132,051109,102114,33592,39185,30993,53656,73760,665150,400126,07298,16870,366
10/15 65,907103,45698,59178,35354,28725,62639,04723,391140,991115,21388,99155,268
10/11 12,18612,18618,60018,60018,60018,60018,60018,6006,2006,2006,2006,200
100 ------18,60018,60018,60018,60018,60018,600
101 --------12,40012,40012,40012,400
13 53,72191,27079,99159,75335,6877,02620,4474,791134,791109,01382,7912,453
130/1 ---1,8601,8601,860------
130 ------1,8602,4532,4532,4532,4532,453
1311 ---1,8601,8601,860------
133 53,72191,27079,99157,89333,8275,16618,5872,338132,338106,55980,337-
14 -----------46,615
17/49 66,1455,64615,74414,03831,02167,91017,69137,2749,40910,8609,17715,098
42/48 66,1455,64615,74414,03831,02167,91017,69137,2749,40910,8609,17714,766
44 2,05714,5794,3855,1682,8912,9405,5994,0524,8844,726-
440/4 2,05714,5794,3855,1682,8912,9405,5994,0524,8844,726-
45 8,6614,2487,9626,5705,84812,3173,4087,1541,7723,1343,1553,266
450/3 8,6614,2487,9626,5705,84812,3173,4087,1541,7723,1343,1553,266
47/48 55,4271,3973,2033,08420,00652,70111,34324,5203,5842,8421,29711,500
492/3 -----------332
Income statement
76A ---235--------
9900 70,25048,02735,07239,38837,96734,63033,92432,20437,61937,86948,70583,774
630 1,8961,756892986766632325391316175234342
640/8 6262139139139139138136135196182100
9901 68,29246,20934,04138,26337,06333,85933,46231,67737,16837,49848,28983,333
75/76B 1821811030---2741675932
75 1821811030---2741675932
65/66B 55545054527738-562691670933
65 55545054527738-562691670933
9903 68,41946,33634,09538,20937,01133,78233,42431,70436,64736,87447,67782,431
67/77 14,7337,47113,8569,1448,3507,2037,3567,12010,86910,65213,95521,863
9904 53,68638,86520,23829,06528,66126,58026,06824,58425,77826,22233,72360,568
9905 53,68638,86520,23829,06528,66126,58026,06824,58425,77826,22233,72360,568
Appropriation of the result
9906 53,68638,86520,23829,06528,66126,58026,06824,58425,77826,22280,33760,568
791/2 91,23527,586-5,000-18,5871,000130,000----
691/2 53,68638,86520,23829,06528,6615,16616,656-25,77826,22280,3372,453
6920 -----5,166-----2,453
6921 53,68638,86520,23829,06528,661-16,656-25,77826,22280,337-
694/7 91,23527,586-5,000-40,00010,412154,584---11,500
694 91,23527,586-5,000-40,00010,412154,584----
695 -----------11,500
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The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 03-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 03-07-2026 2026-00245704 PDF
31-12-2024 micro format 29-08-2025 2025-00463343 PDF
31-12-2023 micro format 15-07-2024 2024-00259820 PDF
31-12-2022 micro format 28-08-2023 2023-00371974 PDF
31-12-2021 micro format 30-06-2022 2022-20128945 PDF
31-12-2020 micro format 29-10-2021 2021-74700549 PDF
31-12-2019 micro format 26-08-2020 2020-45300094 PDF
31-12-2018 micro format 18-07-2019 2019-34900397 PDF
31-12-2017 micro format 26-06-2018 2018-22800288 PDF
31-12-2016 micro format 11-08-2017 2017-43200060 PDF
31-12-2015 abbreviated format 31-08-2016 2016-53400074 PDF
31-12-2014 abbreviated format 30-06-2015 2015-25200377 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020201920182017201620152014
70,18847,96534,93339,24937,82834,49133,78632,06837,48437,67348,52383,674
55,58240,62121,13030,05129,42727,21126,39224,97626,09526,39733,95660,910
013,4327259155532,4290371602003,333
36,881-36,74036,940390-6,12729,568-4,019-84,03620,80320,38735,988-
54,65590,30997,12076,71452,57823,70538,92322,943138,122112,62986,23352,609
49.9%94.8%86.2%84.8%63.6%27.4%68.8%38.6%93.7%91.4%90.7%78.5%
1.8317.007.176.462.691.353.201.6215.6811.3710.404.56
1.000.050.160.180.572.650.451.590.070.090.100.27
81.5%37.6%20.5%37.1%52.8%103.7%66.8%105.1%18.3%22.8%37.9%109.6%
40.7%35.6%17.7%31.5%33.6%28.4%45.9%40.5%17.1%20.8%34.4%86.1%
over 100over 100over 100over 100over 100-------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets-€13,422€725€915€553
Financial fixed assets-€10---
€1,896€1,756€892€986€766

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on EQUATION

The operating result for 2025 is 48% higher than in 2024 and the highest since 2014. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total rises from 5.2% to 50.1%. Equity is lower and debt is higher.

Next steps

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