ESQUIRE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-09-2026 at the NBB all 6 filings
Turnover
≈ €120,000
Estimated: probably between €90,000 and €160,000
Total assets
€583,941▼ 12.4%
2024 · €666,790
Net result
€9,101▼ 79.3%
2024 · €43,968
Working capital
€35,944▼ 33.8%
2024 · €54,303
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€16,502
▼ 70.4%
2025
20202025
Net result
€9,101
▼ 79.3%
2025
lowest quarter of the sector
20202025
Equity
€327,747
=
2025
highest quarter of the sector
20202025
Total assets
€583,941
▼ 12.4%
2025
highest quarter of the sector
20202025
Debt
€256,194
▼ 24.4%
2025
20202025
Working capital
€35,944
▼ 33.8%
2025
middle half of the sector
20202025
Solvency
56.1%
▲ 7.0pp
2025
middle half of the sector
20202025
Current ratio
1.70
▲ 0.24
2025
middle half of the sector
20202025
Return on assets (ROA)
1.6%
▼ 5.0pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€203,752-€33,672▼ 83.5%-€48,069€48,329€55,795▲ 15.4%€16,502▼ 70.4%
Net result€157,881above the sector's middle half-€326,747above the sector's middle half▲ 107%-€61,516below the sector's middle half€269,813above the sector's middle half€43,968within the sector's middle half▼ 83.7%€9,101below the sector's middle half▼ 79.3%
Equity€1,000below the sector's middle half-€327,747above the sector's middle half▲ 328×€266,231above the sector's middle half▼ 18.8%€327,747above the sector's middle half▲ 23.1%€327,747above the sector's middle half=€327,747above the sector's middle half=
Total assets€211,779within the sector's middle half-€586,360above the sector's middle half▲ 177%€461,523within the sector's middle half▼ 21.3%€662,419above the sector's middle half▲ 43.5%€666,790above the sector's middle half▲ 0.7%€583,941above the sector's middle half▼ 12.4%
Debt€210,779-€258,613▲ 22.7%€195,292▼ 24.5%€334,672▲ 71.4%€339,043▲ 1.3%€256,194▼ 24.4%
Working capital-€12,598below the sector's middle half-€3,847below the sector's middle half€83,313within the sector's middle half▲ 22×€31,390within the sector's middle half▼ 62.3%€54,303within the sector's middle half▲ 73.0%€35,944within the sector's middle half▼ 33.8%
Solvency0.5%below the sector's middle half-55.9%within the sector's middle half▲ 55.4pp57.7%within the sector's middle half▲ 1.8pp49.5%within the sector's middle half▼ 8.2pp49.2%within the sector's middle half▼ 0.3pp56.1%within the sector's middle half▲ 7.0pp
Current ratio0.94below the sector's middle half-1.05below the sector's middle half▲ 0.113.53within the sector's middle half▲ 2.471.12below the sector's middle half▼ 2.401.45within the sector's middle half▲ 0.331.70within the sector's middle half▲ 0.24
Return on assets (ROA)74.5%above the sector's middle half-55.7%above the sector's middle half▼ 18.8pp-13.3%below the sector's middle half▼ 69.1pp40.7%above the sector's middle half▲ 54.1pp6.6%within the sector's middle half▼ 34.1pp1.6%below the sector's middle half▼ 5.0pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 70% lower than in 2024.
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 €583,941
Fixed assets
€496,542 ▲ 0.7%
Current assets
€87,400 ▼ 49.7%
Equity and liabilities €583,941
Equity
€327,747 =
Debt
€256,194 ▼ 24.4%
Debt's share of the balance-sheet total falls from 50.8% to 43.9%. Debt is lower.
Key figures and ratios
EBITDA
€51,037▼
2024 · €78,075
Cash flow
€43,636▼
2024 · €66,248
Debt to equity
0.78▼
2024 · 1.03
ROE
2.8%▼
2024 · 13.4%
Interest coverage
10.21▼
2024 · over 100
Debt ≤ 1 year
€51,456▼
2024 · €119,563
Debt > 1 year
€204,738▼
2024 · €219,480
Income taxes
€3,000▼
2024 · €17,050
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €85,123 | €2,127 | €23,044 | €94,701 | €38,153 |
| Financial fixed assets | €430,000 | - | €30,000 | €41,000 | - |
| Depreciation and write-downs of the year | €17,238 | €18,467 | €18,615 | €22,279 | €34,535 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €150 awarded · €150 paidAnnual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €454 | €17,238 | €18,467 | €18,615 | €22,279 | €34,535 | ▲ 55.0% |
| Other operating charges640/8 | - | €226 | €569 | €1,044 | €474 | €835 | ▲ 76.2% |
| Non-recurring operating charges66A | - | - | €77,500 | - | - | - | - |
| Gross operating margin9900 | €204,315 | €51,136 | €48,467 | €67,988 | €78,549 | €51,872 | ▼ 34.0% |
| Operating profit (loss)9901 | €203,752 | €33,672 | -€48,069 | €48,329 | €55,795 | €16,502 | ▼ 70.4% |
| Financial income75/76B | - | €303,056 | €1 | €241,240 | €5,742 | €600 | ▼ 89.5% |
| Recurring financial income75 | €15 | €303,056 | €1 | €241,240 | €5,742 | €600 | ▼ 89.5% |
| Financial charges65/66B | - | €657 | €610 | €480 | €520 | €5,001 | ▲ 863% |
| Recurring financial charges65 | €21 | €657 | €610 | €480 | €520 | €5,001 | ▲ 863% |
| Profit (loss) for the period before taxes9903 | €203,746 | €336,072 | -€48,679 | €289,089 | €61,018 | €12,101 | ▼ 80.2% |
| Income taxes67/77 | €45,865 | €9,325 | €12,837 | €19,276 | €17,050 | €3,000 | ▼ 82.4% |
| Profit (loss) for the period9904 | €157,881 | €326,747 | -€61,516 | €269,813 | €43,968 | €9,101 | ▼ 79.3% |
| Profit (loss) for the period to be appropriated9905 | €157,881 | €326,747 | -€61,516 | €269,813 | €43,968 | €9,101 | ▼ 79.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €211,779 | €586,360 | €461,523 | €662,419 | €666,790 | €583,941 | ▼ 12.4% |
| Fixed assets21/28 | €13,723 | €511,608 | €345,268 | €379,698 | €492,924 | €496,542 | ▲ 0.7% |
| Tangible fixed assets22/27 | €4,228 | €72,113 | €55,773 | €60,203 | €132,624 | €136,242 | ▲ 2.7% |
| Plant, machinery and equipment23 | - | €5,183 | €4,086 | €25,449 | €114,574 | €134,477 | ▲ 17.4% |
| Furniture and vehicles24 | - | €66,930 | €51,688 | €34,753 | €18,050 | €1,765 | ▼ 90.2% |
| Financial fixed assets28 | €9,495 | €439,495 | €289,495 | €319,495 | €360,300 | €360,300 | = |
| Current assets29/58 | €198,056 | €74,752 | €116,255 | €282,721 | €173,866 | €87,400 | ▼ 49.7% |
| Amounts receivable after more than one year29 | - | - | €72,500 | - | €117,000 | €35,500 | ▼ 69.7% |
| Other amounts receivable291 | - | - | €72,500 | - | €117,000 | €35,500 | ▼ 69.7% |
| Amounts receivable within one year40/41 | €12,100 | €12,100 | €15,000 | €16,449 | €41,751 | €18,314 | ▼ 56.1% |
| Trade receivables40 | - | €12,100 | - | - | €25,410 | - | - |
| Other amounts receivable41 | - | - | €15,000 | €16,449 | €16,341 | €18,314 | ▲ 12.1% |
| Current investments50/53 | - | - | - | €200,000 | - | - | - |
| Cash at bank and in hand54/58 | €45,255 | €60,492 | €28,608 | €64,469 | €12,960 | €24,848 | ▲ 91.7% |
| Deferred charges and accrued income490/1 | - | €2,159 | €147 | €1,804 | €2,154 | €8,738 | ▲ 306% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €211,779 | €586,360 | €461,523 | €662,419 | €666,790 | €583,941 | ▼ 12.4% |
| Equity10/15 | €1,000 | €327,747 | €266,231 | €327,747 | €327,747 | €327,747 | = |
| Contributions10/11 | - | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | - | €326,747 | €326,747 | €326,747 | €326,747 | €326,747 | = |
| Distributable reserves133 | - | €326,747 | €326,747 | €326,747 | €326,747 | €326,747 | = |
| Profit (loss) carried forward14 | - | - | -€61,516 | - | - | - | - |
| Amounts payable17/49 | €210,779 | €258,613 | €195,292 | €334,672 | €339,043 | €256,194 | ▼ 24.4% |
| Amounts payable after more than one year17 | - | €187,708 | €162,350 | €83,340 | €219,480 | €204,738 | ▼ 6.7% |
| Financial debts170/4 | - | €37,352 | €25,363 | €13,254 | €129,352 | €107,610 | ▼ 16.8% |
| Other amounts payable178/9 | - | €150,357 | €136,987 | €70,086 | €90,128 | €97,128 | ▲ 7.8% |
| Amounts payable within one year42/48 | €210,654 | €70,905 | €32,942 | €251,331 | €119,563 | €51,456 | ▼ 57.0% |
| Current portion of amounts payable after more than one year42 | - | €11,870 | €11,989 | €12,108 | €32,331 | €21,742 | ▼ 32.8% |
| Trade debts44 | €74 | €336 | €5,759 | €23,576 | €36,728 | €7,974 | ▼ 78.3% |
| Suppliers440/4 | - | €336 | €5,759 | €23,576 | €36,728 | €7,974 | ▼ 78.3% |
| Advances received on contracts in progress46 | - | - | €320 | €320 | €320 | €2,743 | ▲ 757% |
| Taxes, remuneration and social security45 | - | €58,698 | €14,875 | €7,030 | €6,215 | €9,897 | ▲ 59.2% |
| Taxes450/3 | - | €58,698 | €14,875 | €7,030 | €6,215 | €6,748 | ▲ 8.6% |
| Remuneration and social security454/9 | - | - | - | - | - | €3,149 | - |
| Other amounts payable47/48 | - | - | - | €208,297 | €43,968 | €9,101 | ▼ 79.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €157,881 | €326,747 | -€61,516 | €269,813 | €43,968 | €9,101 | ▼ 79.3% |
| + Depreciation and write-downs630 | €454 | €17,238 | €18,467 | €18,615 | €22,279 | €34,535 | ▲ 55.0% |
| Operating cash flow (approximation) | €158,335 | €343,985 | -€43,049 | €288,428 | €66,248 | €43,636 | ▼ 34.1% |
| Investment in fixed assets (approximation) | - | -€515,123 | €147,873 | -€53,044 | -€135,506 | -€38,153 | ▲ 71.8% |
| Change in cash | - | €15,237 | -€31,885 | €35,861 | -€51,508 | €11,887 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-09-2026 | 2026-00509583 | |
| 31-12-2024 | micro format | 16-06-2025 | 2025-00142069 | |
| 31-12-2023 | micro format | 08-03-2024 | 2024-00040883 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00119665 | |
| 31-12-2021 | micro format | 06-05-2022 | 2022-20023032 | |
| 31-12-2020 | micro format | 05-07-2021 | 2021-31200104 |