EXCELLENT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 36 filings
Turnover
≈ €1.2m
Estimated: probably between €740,000 and €2.1m
Total assets
€4.4m▲ 9.5%
2024 · €4.0m
Net result
€485,907
2024 · -€57,492
Working capital
-€1.4m▲ 6.4%
2024 · -€1.5m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€504,602
2025
20182025
Net result
€485,907
2025
20182025
Equity
€2.9m
▲ 20.1%
2025
20182025
Total assets
€4.4m
▲ 9.5%
2025
20182025
Debt
€1.5m
▼ 6.5%
2025
20182025
Working capital
-€1.4m
▲ 6.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.07m-€0.3m▲ 304%€0.02m▼ 92.5%-€0.1m-€0.2m▼ 81.0%-€0.2m▼ 10.0%-€0.04m▲ 83.8%€0.5m
Net result€0.3m-€0.4m▲ 59.9%€0.02m▼ 94.9%-€0.1m-€0.2m▼ 94.7%-€0.2m▼ 19.2%-€0.06m▲ 75.1%€0.5m
Equity€3.3m-€3.7m▲ 13.5%€3.0m▼ 20.3%€2.9m▼ 3.4%€2.7m▼ 6.8%€2.4m▼ 8.6%€2.4m▼ 0.9%€2.9m▲ 20.1%
Total assets€3.4m-€3.8m▲ 14.3%€3.5m▼ 8.8%€3.4m▼ 3.5%€3.2m▼ 5.2%€3.9m▲ 20.8%€4.0m▲ 3.9%€4.4m▲ 9.5%
Debt€0.08m-€0.1m▲ 45.1%€0.5m▲ 344%€0.5m▼ 4.4%€0.5m▲ 3.3%€1.4m▲ 169%€1.6m▲ 12.2%€1.5m▼ 6.5%
Working capital€1.8m-€3.0m▲ 65.6%€2.5m▼ 15.9%€2.4m▼ 3.8%€2.2m▼ 11.1%-€1.2m-€1.5m▼ 21.3%-€1.4m▲ 6.4%
The operating result for 2025 is a profit of €504,602, after a loss of €35,595 in 2024. It is the highest result since 2021.
Large changes and their cause
- 2024 Net result +75% on 2023. Merger absorbing MIKPUNT PROMOTIES, effective 03-07-2024.
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 €4.4m
Fixed assets
€4.3m ▲ 10.1%
Current assets
€94,699 ▼ 14.4%
Equity and liabilities €4.4m
Equity
€2.9m ▲ 20.1%
Debt
€1.5m ▼ 6.5%
Debt's share of the balance-sheet total falls from 39.8% to 34.0%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.06▼
2024 · 0.07
Debt to equity
0.52▼
2024 · 0.66
ROE
16.7%▲
2024 · -2.4%
ROA
11.0%▲
2024 · -1.4%
Debt ≤ 1 year
€1.5m▼
2024 · €1.6m
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 | €1,886 | €18,931 | €3.2m | €158,884 | - |
| Financial fixed assets | - | €63,775 | - | €250,766 | €2.1m |
| Depreciation and write-downs of the year | €21,676 | €21,666 | €27,634 | €105,522 | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,027 | €6,407 | €21,286 | €21,676 | €21,666 | €27,634 | €105,522 | - | - |
| Other operating charges640/8 | - | - | - | €126,459 | €207,511 | €221,117 | €21,565 | €15,299 | ▼ 29.1% |
| Gross operating margin9900 | €73,168 | €285,557 | €93,535 | €37,702 | €29,270 | €28,945 | €91,492 | €519,901 | ▲ 468% |
| Operating profit (loss)9901 | €67,943 | €274,593 | €20,533 | -€110,434 | -€199,907 | -€219,806 | -€35,595 | €504,602 | - |
| Financial income75/76B | - | - | - | €12,754 | €7,254 | €5,462 | €6,013 | €2 | ▼ 100.0% |
| Recurring financial income75 | €262,286 | €212,391 | €13,362 | €12,754 | €7,254 | €5,462 | €6,013 | €2 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €1,734 | €1,238 | €16,717 | €27,910 | €18,697 | ▼ 33.0% |
| Recurring financial charges65 | €14,819 | -€7,230 | €2,624 | €1,734 | €1,238 | €16,717 | €27,910 | €18,697 | ▼ 33.0% |
| Profit (loss) for the period before taxes9903 | €315,409 | €494,213 | €31,270 | -€99,414 | -€193,891 | -€231,061 | -€57,492 | €485,907 | - |
| Income taxes67/77 | €38,795 | €51,894 | €8,930 | €184 | - | - | - | - | - |
| Profit (loss) for the period9904 | €276,614 | €442,319 | €22,340 | -€99,599 | -€193,891 | -€231,061 | -€57,492 | €485,907 | - |
| Profit (loss) for the period to be appropriated9905 | €276,614 | €442,319 | €22,340 | -€99,599 | -€193,891 | -€231,061 | -€57,492 | €485,907 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.4m | €3.8m | €3.5m | €3.4m | €3.2m | €3.9m | €4.0m | €4.4m | ▲ 9.5% |
| Fixed assets21/28 | €1.5m | €0.8m | €0.5m | €0.5m | €0.5m | €3.7m | €3.9m | €4.3m | ▲ 10.1% |
| Tangible fixed assets22/27 | €0.3m | €0.4m | €0.09m | €0.07m | €0.07m | €3.2m | €3.3m | €1.5m | ▼ 53.2% |
| Land and buildings22 | - | - | - | - | - | €3.2m | €3.2m | €1.5m | ▼ 52.7% |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.001m | €0.001m | - | - |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.07m | €0.05m | €0.04m | - | - |
| Other tangible fixed assets26 | - | - | - | - | €0 | - | - | - | - |
| Financial fixed assets28 | €1.2m | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.7m | €2.8m | ▲ 328% |
| Current assets29/58 | €1.9m | €3.1m | €3.0m | €2.9m | €2.7m | €0.2m | €0.1m | €0.09m | ▼ 14.4% |
| Stocks and contracts in progress3 | - | €0.01m | €0.5m | €1.1m | €2.1m | - | - | - | - |
| Stocks30/36 | - | - | - | €1.1m | €2.1m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.4m | €1.0m | €0.9m | €0.9m | €0.3m | €0.2m | €0.1m | €0.09m | ▼ 6.2% |
| Trade receivables40 | - | - | - | €0.01m | - | €0.01m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.9m | €0.3m | €0.2m | €0.1m | €0.09m | ▼ 6.2% |
| Cash at bank and in hand54/58 | €1.5m | €2.0m | €1.6m | €0.9m | €0.2m | €0.03m | €0.001m | €0.001m | ▲ 40.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.03m | €0.01m | €0.01m | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.4m | €3.8m | €3.5m | €3.4m | €3.2m | €3.9m | €4.0m | €4.4m | ▲ 9.5% |
| Equity10/15 | €3.3m | €3.7m | €3.0m | €2.9m | €2.7m | €2.4m | €2.4m | €2.9m | ▲ 20.1% |
| Contributions10/11 | €0.7m | €0.7m | - | - | - | - | €0.008m | €0.008m | = |
| Reserves13 | €2.6m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Non-distributable reserves130/1 | - | - | - | - | - | - | €498 | €498 | = |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €498 | €498 | = |
| Distributable reserves133 | - | - | - | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Profit (loss) carried forward14 | - | - | - | -€0.1m | -€0.3m | -€0.5m | -€0.6m | -€0.07m | ▲ 87.6% |
| Amounts payable17/49 | €0.08m | €0.1m | €0.5m | €0.5m | €0.5m | €1.4m | €1.6m | €1.5m | ▼ 6.5% |
| Amounts payable after more than one year17 | €0.001m | €0.06m | €0.05m | €0.03m | €0.02m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.03m | €0.02m | - | - | - | - |
| Amounts payable within one year42/48 | €0.08m | €0.06m | €0.5m | €0.5m | €0.5m | €1.4m | €1.6m | €1.5m | ▼ 6.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.02m | - | - | - |
| Financial debts43 | - | - | - | - | €0.05m | €0.5m | €0.5m | €0.5m | = |
| Credit institutions430/8 | - | - | - | - | €0.05m | €0.5m | €0.5m | €0.5m | = |
| Trade debts44 | €0.002m | €0.002m | €0.001m | €0.003m | €0.004m | €0.006m | €0.008m | - | - |
| Suppliers440/4 | - | - | - | €0.003m | €0.004m | €0.006m | €0.008m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.03m | €0.04m | €0.006m | - | - |
| Taxes450/3 | - | - | - | €0.05m | €0.03m | €0.04m | €0.006m | - | - |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.4m | €0.9m | €1.1m | €1.0m | ▼ 8.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0.006m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.4m | €0.02m | -€0.1m | -€0.2m | -€0.2m | -€0.06m | €0.5m | - |
| + Depreciation and write-downs630 | €0.001m | €0.006m | €0.02m | €0.02m | €0.02m | €0.03m | €0.1m | - | - |
| Operating cash flow (approximation) | €0.3m | €0.4m | €0.04m | -€0.08m | -€0.2m | -€0.2m | €0.05m | €0.5m | ▲ 912% |
| Investment in fixed assets (approximation) | - | €0.7m | €0.3m | -€0.002m | -€0.08m | -€3.2m | -€0.3m | -€0.4m | ▼ 15.0% |
| Change in cash | - | €0.6m | -€0.5m | -€0.7m | -€0.6m | -€0.2m | -€0.03m | €260 | - |
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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00229221 | |
| 31-12-2024 | abbreviated format | 02-06-2025 | 2025-00128973 | |
| 31-12-2023 | abbreviated format | 26-06-2024 | 2024-00197901 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00136409 | |
| 31-12-2021 | micro format | 08-06-2022 | 2022-20062955 | |
| 31-12-2020 | micro format | 11-05-2021 | 2021-14100452 | |
| 31-12-2019 | abbreviated format | 05-05-2020 | 2020-11500143 | |
| 31-12-2018 | abbreviated format | 15-05-2019 | 2019-13400438 | |
| 31-12-2017 | abbreviated format | 24-05-2018 | 2018-13900203 | |
| 31-12-2016 | abbreviated format | 11-08-2017 | 2017-43200431 |