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ESFE

Active
Private limited companyfounded 1995active for 31 yearsKleimoer 1, 9030 Gent, BelgiumKBO/BCE: BE 0454.832.109

Financials · financial year 2025, abbreviated format

2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00535184.

Annual accounts 2025 filed on 30-09-2026 at the NBB all 31 filings

Turnover
≈ €490,000
Estimated: probably between €210,000 and €1.3m
Total assets
€1.0m▲ 1.0%
2024 · €1.0m
Net result
€12,685▲ 28.3%
2024 · €9,887
Working capital
-€132,153▲ 12.3%
2024 · -€150,606
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 5% higher than in 2024. It is the second rise in a row, after the fall in 2023.

Operating result€0.01m 2025 Net result€0.01m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.008m-€0.002m▼ 69.9%€0.01m▲ 339%€0.02m▲ 63.0%€0.02m▼ 0.1%€0.002m▼ 86.2%€0.01m▲ 300%€0.01m▲ 4.8%
Net result€0.01m-€0.003m▼ 71.2%€0.01mwithin the sector's middle half▲ 258%€0.02mwithin the sector's middle half▲ 68.1%€0.02mwithin the sector's middle half▼ 1.1%€0.002mwithin the sector's middle half▼ 85.8%€0.01mwithin the sector's middle half▲ 314%€0.01mwithin the sector's middle half▲ 28.3%
Equity€0.4m-€0.4m▲ 0.6%€0.5mabove the sector's middle half▲ 2.2%€0.5mabove the sector's middle half▲ 3.7%€0.5mabove the sector's middle half▲ 3.5%€0.5mabove the sector's middle half▲ 0.5%€0.5mabove the sector's middle half▲ 2.0%€0.5mwithin the sector's middle half▲ 2.5%
Total assets€1.0m-€1.0m▲ 3.7%€1.0mabove the sector's middle half▼ 0.9%€1.0mabove the sector's middle half▼ 1.9%€1.0mabove the sector's middle half▲ 3.7%€1.0mabove the sector's middle half▼ 0.2%€1.0mabove the sector's middle half▲ 0.3%€1.0mwithin the sector's middle half▲ 1.0%
Debt€0.5m-€0.5m▲ 6.4%€0.5m▼ 3.4%€0.5m▼ 6.8%€0.5m▲ 3.9%€0.5m▼ 0.9%€0.5m▼ 1.4%€0.5m▼ 0.5%
Working capital-€0.2m--€0.2m▼ 14.5%-€0.2mbelow the sector's middle half▲ 4.7%-€0.2mbelow the sector's middle half▲ 10.9%-€0.2mbelow the sector's middle half▼ 0.1%-€0.2mbelow the sector's middle half▲ 2.6%-€0.2mbelow the sector's middle half▲ 7.1%-€0.1mbelow the sector's middle half▲ 12.3%
Solvency46.4%-45.0%▼ 1.4pp46.4%within the sector's middle half▲ 1.4pp49.1%within the sector's middle half▲ 2.7pp49.0%within the sector's middle half▼ 0.1pp49.3%within the sector's middle half▲ 0.3pp50.2%within the sector's middle half▲ 0.8pp50.9%within the sector's middle half▲ 0.7pp
Current ratio0.67-0.62▼ 0.050.63below the sector's middle half▲ 0.010.66below the sector's middle half▲ 0.030.67below the sector's middle half▲ 0.010.68below the sector's middle half▲ 0.010.70below the sector's middle half▲ 0.020.74below the sector's middle half▲ 0.04
Return on assets (ROA)1.0%-0.3%▼ 0.7pp1.0%within the sector's middle half▲ 0.7pp1.7%within the sector's middle half▲ 0.7pp1.7%within the sector's middle half▼ 0.1pp0.2%within the sector's middle half▼ 1.4pp1.0%within the sector's middle half▲ 0.7pp1.2%within the sector's middle half▲ 0.3pp
Staff (FTE)0.91▲ 11.1%1=1within the sector's middle half=
above within below The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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.
Turnover and EBIT margin are not published. The abbreviated or 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 €1.0m
Fixed assets €649,907 ▼ 1.0%
Current assets €367,053 ▲ 4.8%
Equity and liabilities €1.0m
Equity €517,753 ▲ 2.5%
Debt €499,207 ▼ 0.5%
Debt's share of the balance-sheet total falls from 49.8% to 49.1%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€16,419▲
2024 · €15,855
Cash flow
€19,090▲
2024 · €16,189
Debt to equity
0.96▼
2024 · 0.99
ROE
2.5%▲
2024 · 2.0%
Interest coverage
46.61
Debt ≤ 1 year
€499,207▼
2024 · €500,958
Income taxes
€233▲
2024 · -€334
Staff costs
€79,464▲
2024 · €76,509
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1111
full-time1111
in full-time equivalents1111
Average over the year, in full-time equivalents0.9111
On a permanent contract1111
Joined1---
Left0---

Source: social balance sheet in the 2022 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets-€30,463€528€826-
Depreciation and write-downs of the year-€5,408€6,196€6,301€6,405

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

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet Code20242025
Assets
Total assets20/58€1.0m€1.0m▲
Fixed assets21/28€0.7m€0.6m▼
Tangible fixed assets22/27€0.01m€0.008m▼
Furniture and vehicles24€0.01m€0.008m▼
Financial fixed assets28€0.6m€0.6m=
Current assets29/58€0.4m€0.4m▲
Amounts receivable after more than one year29€0.07m€0.07m=
Other amounts receivable291€0.07m€0.07m=
Amounts receivable within one year40/41€0.1m€0.1m▼
Trade receivables40€0.1m€0.1m▼
Other amounts receivable41€0.005m€0.006m▲
Current investments50/53€0.1m€0.2m▲
Cash at bank and in hand54/58€0.06m€0.02m▼
Equity and liabilities
Total equity and liabilities10/49€1.0m€1.0m▲
Equity10/15€0.5m€0.5m▲
Contributions10/11€1.1m€1.1m=
Contributions outside capital11€1.1m-
Other1109/19€1.1m-
Profit (loss) carried forward14-€0.6m-€0.5m▲
Amounts payable17/49€0.5m€0.5m▼
Amounts payable after more than one year17€0.001m-
Financial debts170/4€0.001m-
Amounts payable within one year42/48€0.5m€0.5m▼
Current portion of amounts payable after more than one year42€0.004m€0.001m▼
Trade debts44€0.002m€0.002m▲
Suppliers440/4€0.002m€0.002m▲
Taxes, remuneration and social security45€0.005m€0.006m▲
Taxes450/3€0.005m€0.006m▲
Other amounts payable47/48€0.5m€0.5m=
Income statement Code20242025
Remuneration, social security and pensions62€0.08m€0.08m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.006m€0.006m▲
Other operating charges640/8€0.001m€0.001m▲
Gross operating margin9900€0.09m€0.1m▲
Operating profit (loss)9901€0.01m€0.01m▲
Financial income75/76B-€0.003m
Recurring financial income75-€0.003m
Financial charges65/66B-€352
Recurring financial charges65-€352
Profit (loss) for the period before taxes9903€0.01m€0.01m▲
Income taxes67/77-€334€233▲
Profit (loss) for the period9904€0.01m€0.01m▲
Profit (loss) for the period to be appropriated9905€0.01m€0.01m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.6m-€0.5m▲
Profit (loss) brought forward from the previous period14P-€0.6m-€0.6m▲
Social balance sheet
Average headcount (FTE)9087-1.0

The notes to these accounts have 5 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 30-09-2026.

Line20182019202020212022202320242025Change
Non-recurring operating income76A---€1,382€452----
Remuneration, social security and pensions62----€57,260€75,430€76,509€79,464▲ 3.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€8,438€8,438-€5,408€6,196€6,301€6,405▲ 1.6%
Other operating charges640/8---€988€990€1,092€1,108€1,143▲ 3.1%
Gross operating margin9900€9,061€11,865€20,084€18,365€81,009€85,105€93,472€97,026▲ 3.8%
Operating profit (loss)9901€8,062€2,426€10,659€17,377€17,351€2,388€9,553€10,015▲ 4.8%
Financial income75/76B---€83€0€384-€3,255-
Recurring financial income75€1,442€865-€83€0€384-€3,255-
Non-recurring financial income76B---€83-----
Financial charges65/66B---€547€581€384-€352-
Recurring financial charges65€212€472€574€547€581€384-€352-
Profit (loss) for the period before taxes9903€9,793€2,819€10,085€16,913€16,771€2,387€9,553€12,918▲ 35.2%
Income taxes67/77----€43---€334€233-
Profit (loss) for the period9904€9,793€2,819€10,085€16,956€16,771€2,387€9,887€12,685▲ 28.3%
Profit (loss) for the period to be appropriated9905€9,793€2,819€10,085€16,956€16,771€2,387€9,887€12,685▲ 28.3%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m▲ 1.0%
Fixed assets21/28€0.6m€0.7m€0.7m€0.6m€0.7m€0.7m€0.7m€0.6m▼ 1.0%
Tangible fixed assets22/27-€0.03m€0.03m-€0.03m€0.02m€0.01m€0.008m▼ 46.0%
Furniture and vehicles24----€0.03m€0.02m€0.01m€0.008m▼ 46.0%
Financial fixed assets28€0.6m€0.6m€0.6m€0.6m€0.6m€0.6m€0.6m€0.6m=
Current assets29/58€0.3m€0.3m€0.3m€0.3m€0.3m€0.3m€0.4m€0.4m▲ 4.8%
Amounts receivable after more than one year29---€0.07m€0.07m€0.07m€0.07m€0.07m=
Other amounts receivable291---€0.07m€0.07m€0.07m€0.07m€0.07m=
Amounts receivable within one year40/41€0.1m€0.1m€0.1m€0.1m€0.09m€0.1m€0.1m€0.1m▼ 12.9%
Trade receivables40---€0.09m€0.08m€0.1m€0.1m€0.1m▼ 14.0%
Other amounts receivable41---€0.005m€0.005m€0.005m€0.005m€0.006m▲ 10.5%
Current investments50/53€0.2m€0.1m€0.1m€0.09m€0.06m€0.1m€0.1m€0.2m▲ 68.8%
Cash at bank and in hand54/58€0.04m€0.04m€0.05m€0.06m€0.1m€0.06m€0.06m€0.02m▼ 62.2%
Equity and liabilities
Total equity and liabilities10/49€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m▲ 1.0%
Equity10/15€0.4m€0.4m€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m▲ 2.5%
Contributions10/11€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m=
Capital10---€1.1m-----
Issued capital100---€1.1m-----
Contributions outside capital11----€1.1m€1.1m€1.1m--
Other1109/19----€1.1m€1.1m€1.1m--
Profit (loss) carried forward14-€0.6m-€0.6m-€0.6m-€0.6m-€0.6m-€0.6m-€0.6m-€0.5m▲ 2.3%
Amounts payable17/49€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m▼ 0.5%
Amounts payable after more than one year17-€0.03m€0.02m-€0.008m€0.004m€0.001m--
Financial debts170/4----€0.008m€0.004m€0.001m--
Amounts payable within one year42/48€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m€0.5m▼ 0.3%
Current portion of amounts payable after more than one year42----€0.004m€0.004m€0.004m€0.001m▼ 83.2%
Trade debts44€0.001m-€460€0.003m€0.006m€0.005m€0.002m€0.002m▲ 14.6%
Suppliers440/4---€0.003m€0.006m€0.005m€0.002m€0.002m▲ 14.6%
Taxes, remuneration and social security45---€0.001m€0.004m€0.005m€0.005m€0.006m▲ 27.2%
Taxes450/3---€0.001m€0.004m€0.005m€0.005m€0.006m▲ 27.2%
Other amounts payable47/48---€0.5m€0.5m€0.5m€0.5m€0.5m=
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€9,793€2,819€10,085€16,956€16,771€2,387€9,887€12,685▲ 28.3%
+ Depreciation and write-downs630-€8,438€8,438-€5,408€6,196€6,301€6,405▲ 1.6%
Operating cash flow (approximation)€9,793€11,257€18,523€16,956€22,179€8,583€16,189€19,090▲ 17.9%
Investment in fixed assets (approximation)--€67,191€0€25,315-€30,463-€528-€826€0-
Change in cash--€7,285€18,303€9,442€59,188-€59,758-€4,424-€36,935▼ 735%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 31 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 30-09-2026 2026-00535184 PDF
31-12-2024 micro format 23-05-2025 2025-00103951 PDF
31-12-2023 micro format 30-09-2024 2024-00481209 PDF
31-12-2022 micro format 24-08-2023 2023-00348608 PDF
31-12-2021 micro format 25-10-2022 2022-20471528 PDF
31-12-2020 micro format 23-11-2021 2021-78000308 PDF
31-12-2019 micro format 13-11-2020 2020-70300076 PDF
31-12-2018 micro format 24-06-2019 2019-22000340 PDF
31-12-2017 micro format 01-10-2018 2018-67000485 PDF
31-12-2016 micro format 02-10-2017 2017-65600483 PDF

Show all 31 filings

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