Equity
Equity fell by 87% in 18 years.
Equity fell by 87% in 18 years.
Every financial year from 2022 to 2025 closed with a loss. 2022 was the heaviest.
Of this, €94,077 falls due within a year.
In 2025, 2 people joined and 2 left.
Three of the last ten came late. The 2023 accounts came latest: 58 days after the end of the period.
Less equity than 86% of companies in retail trade. Sector median €315,153 · 13,237 companies.
In July 2024, 2,451 companies had the same profile as EXCEPTION has now. Each dot stands for 7 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,451 companies, not a prediction for EXCEPTION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
These companies have the same main activity as EXCEPTION: retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716). They are comparable in size and age: total assets between €79,300 and €211,000, founded between 1990 and 2003.
EXCEPTION files the abbreviated format. That format states no turnover. The gross margin rose from €130,479 in 2006 to €209,524 in 2025.
The balance sheet grew most from 2008 to 2009 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €980,000. Estimated: probably between €660,000 and €1.9m.
Higher than 19% of 13,234 companies in 2025.
Higher than 31% of 13,093 companies in 2025.
Higher than 23% of 13,156 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 2 people joined and 2 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
109,973 | 135,606 | 168,899 | 179,699 | 164,823 | 129,226 | 123,275 | 131,012 | 180,129 | 197,119 | 189,316 | 137,793 | 148,001 | 194,638 | 256,379 | 315,409 | 350,550 | 265,624 | 176,551 | 194,213 | |
21/28 |
3,782 | 15,286 | 26,790 | 38,295 | 49,799 | - | - | 14,469 | 29,879 | 45,289 | 62,265 | 7,815 | 19,733 | 77,114 | 126,664 | 185,105 | 181,278 | 26,110 | 46,845 | 32,218 | |
22/27 |
3,782 | 15,286 | 26,790 | 38,295 | 49,799 | - | - | 14,469 | 29,879 | 45,289 | 62,265 | 7,815 | 19,733 | 77,114 | 126,664 | 185,105 | 181,278 | 26,110 | 46,845 | 32,218 | |
23 |
- | - | - | - | - | - | - | 3,876 | 7,752 | 11,628 | 17,070 | 3,236 | 7,708 | 53,843 | 95,496 | 143,433 | 181,126 | 26,110 | 37,747 | 14,024 | |
24 |
3,782 | 15,286 | 26,790 | 38,295 | 49,799 | - | - | 10,593 | 22,127 | 33,661 | 45,195 | 4,579 | 12,025 | 23,271 | 31,169 | 41,672 | 152 | - | 9,097 | 18,194 | |
29/58 |
106,191 | 120,320 | 142,109 | 141,404 | 115,024 | 129,226 | 123,275 | 116,542 | 150,250 | 151,830 | 127,052 | 129,978 | 128,268 | 117,524 | 129,715 | 130,304 | 169,272 | 239,514 | 129,706 | 161,995 | |
3 |
48,124 | 48,124 | 94,584 | 83,405 | 38,755 | 60,805 | 46,485 | 67,281 | 105,067 | 93,832 | 86,367 | 87,852 | 87,238 | 66,023 | 61,945 | 60,627 | 40,877 | 80,103 | 75,953 | 105,798 | |
30/36 |
48,124 | 48,124 | 94,584 | 83,405 | 38,755 | 60,805 | 46,485 | 67,281 | 105,067 | 93,832 | 86,367 | 87,852 | 87,238 | 66,023 | 61,945 | 60,627 | 40,877 | 80,103 | 75,953 | 105,798 | |
40/41 |
5,112 | 3,416 | 16,288 | 12,755 | 8,128 | 16,493 | 11,401 | 10,366 | 4,007 | 1,140 | 11,534 | 4,601 | 10,845 | 6,883 | 36,177 | 36,155 | 20,757 | 33,110 | 15,682 | 20,874 | |
40 |
- | - | - | - | - | - | - | 180 | - | - | 316 | 3,253 | 5,064 | 1,682 | 172 | 5,203 | 5,118 | 1,032 | 4,870 | 8,778 | |
41 |
5,112 | 3,416 | 16,288 | 12,755 | 8,128 | 16,493 | 11,401 | 10,186 | 4,007 | 1,140 | 11,219 | 1,348 | 5,781 | 5,201 | 36,005 | 30,952 | 15,639 | 32,078 | 10,812 | 12,096 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 49,995 | 106,995 | - | - | |
54/58 |
38,657 | 57,363 | 23,612 | 37,861 | 61,547 | 49,431 | 65,389 | 38,896 | 41,177 | 56,859 | 29,150 | 37,525 | 26,818 | 33,831 | 22,426 | 23,530 | 48,476 | 14,875 | 29,600 | 20,391 | |
490/1 |
14,299 | 11,417 | 7,625 | 7,384 | 6,594 | 2,497 | - | - | - | - | - | - | 3,367 | 10,787 | 9,167 | 9,993 | 9,167 | 4,431 | 8,471 | 14,932 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
109,973 | 135,606 | 168,899 | 179,699 | 164,823 | 129,226 | 123,275 | 131,012 | 180,129 | 197,119 | 189,316 | 137,793 | 148,001 | 194,638 | 256,379 | 315,409 | 350,550 | 265,624 | 176,551 | 194,213 | |
10/15 |
11,457 | 11,673 | 15,284 | 18,783 | 33,466 | 23,270 | 23,548 | 37,642 | 38,270 | 37,244 | 34,670 | 29,083 | 20,627 | 43,684 | 38,688 | 44,137 | 39,062 | 61,661 | 91,504 | 60,437 | |
10/11 |
18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
100 |
- | - | - | - | - | - | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
13 |
25,337 | 25,337 | 25,337 | 25,337 | 25,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 15,337 | 40,337 | 40,337 | 40,337 | |
130/1 |
1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | |
1311 |
1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
23,478 | 23,478 | 23,478 | 23,478 | 23,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 13,478 | 38,478 | 38,478 | 38,478 | |
14 |
-32,473 | -32,257 | -28,645 | -25,146 | -10,463 | -10,660 | -10,381 | 3,712 | 4,341 | 3,315 | 741 | -4,846 | -13,302 | 9,755 | 4,759 | 10,207 | 5,133 | 2,732 | 32,575 | 1,508 | |
17/49 |
98,517 | 123,933 | 153,615 | 160,915 | 131,356 | 105,956 | 99,727 | 93,370 | 141,860 | 159,875 | 154,646 | 108,710 | 127,374 | 150,954 | 217,691 | 271,272 | 311,488 | 203,962 | 85,046 | 133,776 | |
17 |
4,440 | 8,190 | 17,190 | 26,190 | 35,190 | - | 725 | 9,362 | 17,873 | 26,261 | - | - | - | 13,254 | 46,452 | 78,274 | 70,883 | 834 | 7,500 | 22,500 | |
170/4 |
- | 3,750 | 12,750 | 21,750 | 30,750 | - | 725 | 9,362 | 17,873 | 26,261 | - | - | - | 13,254 | 46,452 | 78,274 | 70,883 | 834 | 7,500 | 22,500 | |
178/9 |
4,440 | 4,440 | 4,440 | 4,440 | 4,440 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
94,077 | 115,743 | 136,425 | 134,725 | 96,166 | 105,956 | 98,872 | 84,008 | 123,986 | 133,614 | 142,546 | 108,710 | 127,374 | 137,700 | 168,519 | 192,998 | 240,605 | 203,128 | 77,546 | 111,276 | |
42 |
3,750 | 9,000 | 8,999 | 9,000 | 9,000 | 7,203 | 8,636 | 8,511 | 31,305 | 31,183 | 22,917 | 22,917 | 36,170 | 44,198 | 42,834 | 30,505 | 19,479 | 6,666 | 17,083 | 22,813 | |
43 |
- | - | - | - | - | - | - | 8,161 | 1,000 | 1,000 | 5,241 | 1,397 | - | - | - | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | 8,161 | 1,000 | 1,000 | 5,241 | 1,397 | - | - | - | - | - | - | - | - | |
44 |
36,401 | 44,631 | 63,788 | 51,273 | 37,555 | 20,143 | 27,467 | 16,873 | 46,959 | 66,185 | 84,422 | 50,137 | 69,754 | 65,041 | 90,381 | 121,766 | 165,777 | 125,547 | 44,622 | 63,507 | |
440/4 |
36,401 | 44,631 | 63,788 | 51,273 | 37,555 | 20,143 | 27,467 | 16,873 | 46,959 | 66,185 | 84,422 | 50,137 | 69,754 | 65,041 | 90,381 | 121,766 | 165,777 | 125,547 | 44,622 | 63,507 | |
45 |
52,895 | 62,113 | 58,638 | 69,452 | 44,612 | 58,610 | 57,769 | 50,463 | 44,723 | 35,246 | 29,967 | 34,260 | 20,983 | 28,461 | 34,556 | 40,727 | 30,349 | 30,915 | 14,377 | 22,094 | |
450/3 |
23,633 | 22,849 | 21,623 | 32,070 | 21,168 | 14,785 | 16,524 | 17,462 | 11,695 | 9,000 | 10,244 | 10,456 | 3,419 | 10,171 | 12,517 | 12,226 | 7,695 | 10,152 | 4,596 | 3,594 | |
454/9 |
29,262 | 39,263 | 37,015 | 37,382 | 23,444 | 43,826 | 41,245 | 33,000 | 33,028 | 26,245 | 19,723 | 23,804 | 17,565 | 18,291 | 22,039 | 28,501 | 22,654 | 20,763 | 9,781 | 18,500 | |
47/48 |
1,031 | - | 5,000 | 5,000 | 5,000 | 20,000 | 5,000 | - | - | - | - | - | 467 | - | 748 | - | 25,000 | 40,000 | 1,464 | 2,862 | |
492/3 |
- | - | - | - | - | - | 129 | - | - | - | 12,100 | - | - | - | 2,720 | - | - | - | - | - | |
| Income statement | |||||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | 12,976 | - | - | - | - | - | - | - | |
9900 |
209,524 | 171,803 | 179,893 | 167,204 | 94,262 | 58,841 | 122,348 | 129,260 | 131,761 | 140,218 | 148,905 | 162,698 | 153,430 | 194,572 | 189,223 | 202,971 | 182,286 | 138,836 | 151,216 | 130,479 | |
62 |
200,189 | 164,008 | 182,950 | 170,292 | 74,928 | 63,987 | 123,862 | 123,359 | 120,659 | 116,159 | 126,909 | 127,002 | 125,224 | 124,882 | 128,502 | 137,899 | 130,378 | 97,265 | 93,360 | 116,692 | |
630 |
11,504 | 11,504 | 11,504 | 11,504 | 7,722 | - | 14,469 | 15,410 | 15,410 | 16,976 | 17,898 | 16,619 | 57,381 | 57,381 | 63,051 | 62,129 | 53,339 | 20,735 | 21,553 | 19,212 | |
640/8 |
804 | 775 | 765 | 938 | 3,327 | 952 | 956 | 1,279 | 1,275 | 1,640 | 1,558 | 842 | 1,021 | 988 | 657 | 3,165 | 905 | 3,105 | 3,256 | 4,739 | |
9901 |
-2,974 | -4,485 | -15,326 | -15,530 | 8,285 | -6,099 | -16,939 | -10,787 | -5,583 | 5,443 | 2,541 | 18,235 | -30,196 | 11,322 | -2,986 | -220 | -2,337 | 17,731 | 33,047 | -10,164 | |
75/76B |
13,058 | 11,135 | 13,859 | 7,069 | 11,172 | 10,413 | 18,370 | 16,131 | 14,862 | 13,294 | 13,554 | 8,322 | 9,921 | 6,200 | 7,665 | 20,323 | 20,906 | 6,716 | 5,227 | 3,163 | |
75 |
13,058 | 11,135 | 13,859 | 7,069 | 11,172 | 10,413 | 18,370 | 16,131 | 14,862 | 13,294 | 13,554 | 8,322 | 9,921 | 6,200 | 7,665 | 20,323 | 20,906 | 6,716 | 5,227 | 3,163 | |
65/66B |
5,600 | 6,896 | 2,881 | 5,935 | 2,415 | 4,593 | 6,540 | 5,972 | 4,175 | 6,996 | 10,256 | 11,101 | 13,706 | 7,266 | 10,127 | 10,737 | 11,724 | 6,481 | 7,212 | 8,429 | |
65 |
5,600 | 6,896 | 2,881 | 5,935 | 2,415 | 4,593 | 6,540 | 5,972 | 4,175 | 6,996 | 10,256 | 11,101 | 13,706 | 7,266 | 10,127 | 10,737 | 11,724 | 6,481 | 7,212 | 8,429 | |
9903 |
4,484 | -246 | -4,349 | -14,396 | 17,041 | -279 | -5,110 | -628 | 5,104 | 11,741 | 5,839 | 15,456 | -21,005 | 10,256 | -5,448 | 9,366 | 6,846 | 17,966 | 31,062 | -15,430 | |
67/77 |
4,700 | 3,365 | -849 | 287 | 6,844 | - | 8,983 | - | 4,079 | 9,167 | 252 | 7,000 | 2,053 | 5,260 | 1 | 4,291 | 4,445 | 7,809 | -5 | 1 | |
9904 |
-216 | -3,611 | -3,500 | -14,683 | 10,197 | -279 | -14,093 | -628 | 1,026 | 2,574 | 5,587 | 8,456 | -23,057 | 4,996 | -5,448 | 5,074 | 2,401 | 10,157 | 31,067 | -15,431 | |
9905 |
-216 | -3,611 | -3,500 | -14,683 | 10,197 | -279 | -14,093 | -628 | 1,026 | 2,574 | 5,587 | 8,456 | -23,057 | 4,996 | -5,448 | 5,074 | 2,401 | 10,157 | 31,067 | -15,431 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
-32,473 | -32,257 | -28,645 | -25,146 | -463 | -10,660 | -10,381 | 3,712 | 4,341 | 3,315 | 741 | -4,846 | -13,302 | 9,755 | 4,759 | 10,207 | 5,133 | 42,732 | 32,575 | 1,508 | |
14P |
-32,257 | -28,645 | -25,146 | -10,463 | -10,660 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25,000 | - | - | - | |
691/2 |
- | - | - | - | 10,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
- | - | - | - | 10,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25,000 | 40,000 | - | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25,000 | 40,000 | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
4 | 3.7 | 4 | 4 | 3.7 | 3 | 3.1 | 3.1 | 3.2 | 3 | 3.3 | 3.3 | 3.5 | 3.4 | 3.8 | 3.8 | 3.7 | 3 | 3.1 | 4.1 | |
Hours worked1013 |
7,258 | 6,062 | 7,151 | 6,680 | 3,564 | 2,533 | 5,382 | 5,396 | 5,508 | 5,358 | 6,060 | 6,087 | 5,937 | 5,824 | 6,520 | 6,899 | 6,773 | 5,868 | 6,445 | 8,166 | |
| Document | |||||||||||||||||||||
The accounts for 22 older financial years (1984-2005) were filed as documents without figures as data, scans for example.
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 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00477959.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00477959 | |
| 31-12-2024 | full format | 28-08-2025 | 2025-00442295 | |
| 31-12-2023 | full format | 27-09-2024 | 2024-00483171 | |
| 31-12-2022 | full format | 07-06-2023 | 2023-00110865 | |
| 31-12-2021 | full format | 06-07-2022 | 2022-20160391 | |
| 31-12-2020 | full format | 16-06-2021 | 2021-20400190 | |
| 31-12-2019 | full format | 09-07-2020 | 2020-28500098 | |
| 31-12-2018 | full format | 03-07-2019 | 2019-28400325 | |
| 31-12-2017 | full format | 05-07-2018 | 2018-28900459 | |
| 31-12-2016 | full format | 07-07-2017 | 2017-28600055 | |
| 31-12-2015 | full format | 06-07-2016 | 2016-28200020 | |
| 31-12-2014 | full format | 10-06-2015 | 2015-16100558 | |
| 31-12-2013 | full format | 11-07-2014 | 2014-29800351 | |
| 31-12-2012 | full format | 12-07-2013 | 2013-29700143 | |
| 31-12-2011 | full format | 16-07-2012 | 2012-30200244 | |
| 31-12-2010 | full format | 01-07-2011 | 2011-24700344 | |
| 31-12-2009 | full format | 28-07-2010 | 2010-36900098 | |
| 31-12-2008 | full format | 29-07-2009 | 2009-51000030 | |
| 31-12-2007 | full format | 01-07-2008 | 2008-34300083 | |
| 31-12-2006 | full format | 01-06-2007 | 2007-17800357 | |
| 31-12-2005 | full format | 23-06-2006 | 2006-33800674 | |
| 31-12-2004 | full format | 30-06-2005 | 2005-36403389 | |
| 31-12-2003 | full format | 26-05-2004 | 2004-16705242 | |
| 31-12-2002 | full format | 28-05-2003 | 2003-17303026 | |
| 31-12-2001 | full format | 12-07-2002 | 2002-37200648 | |
| 31-12-2000 | full format | 11-07-2001 | 2001-36602093 | |
| 31-12-1999 | full format | 21-06-2000 | 2000-25402604 | |
| 31-12-1998 | full format | 20-07-1999 | 1999-35402707 | |
| 31-12-1997 | full format | 10-06-1998 | 1998-15600592 | |
| 31-12-1996 | full format | 11-07-1997 | 1997-29404979 | |
| 31-12-1995 | full format | 02-07-1996 | 1996-29702526 | |
| 31-12-1994 | full format | 01-09-1995 | 1995-47605062 | |
| 31-12-1993 | full format | 19-08-1994 | 1994-36404217 | |
| 31-12-1992 | full format | 19-08-1993 | 1993-32205196 | |
| 31-12-1991 | full format | 24-07-1992 | 1992-24600966 | |
| 31-12-1990 | full format | 02-09-1991 | 1991-23902458 | |
| 31-12-1989 | full format | 03-09-1990 | 1990-22900858 | |
| 31-12-1988 | full format | 22-06-1989 | 1989-10100303 | |
| 31-12-1987 | full format | 26-07-1988 | 1988-16900367 | |
| 31-12-1986 | full format | 12-11-1987 | 1987-24400474 | |
| 31-12-1985 | full format | 29-09-1986 | 1986-39801163 | |
| 31-12-1984 | full format | 29-08-1985 | 1985-31900723 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,531 | 7,019 | -3,822 | -4,025 | 16,006 | - | -2,470 | 4,622 | 9,827 | 22,419 | 20,439 | 34,854 | 27,185 | 68,703 | 60,065 | 61,908 | 51,002 | 38,465 | 54,600 | 9,048 | ||
| 11,288 | 7,893 | 8,005 | -3,179 | 17,919 | - | 376 | 14,781 | 16,436 | 19,550 | 23,485 | 25,075 | 34,323 | 62,377 | 57,602 | 67,203 | 55,740 | 30,892 | 52,621 | 3,781 | ||
| 0 | 0 | 0 | 0 | 57,521 | - | 0 | 0 | 0 | 0 | 72,347 | 4,702 | 0 | 7,830 | 4,610 | 65,955 | 208,508 | 0 | 36,180 | - | ||
| -18,706 | 33,751 | -14,248 | -23,686 | 12,116 | -15,958 | 26,493 | -2,281 | -15,682 | 27,708 | -8,374 | 10,706 | -7,013 | 11,405 | -1,103 | -24,946 | 33,601 | -14,726 | 9,209 | - | ||
| 12,114 | 4,576 | 5,683 | 6,679 | 18,858 | 23,270 | 24,403 | 32,534 | 26,264 | 18,216 | -15,495 | 21,268 | 894 | -20,176 | -38,805 | -62,694 | -71,333 | 36,386 | 52,160 | 50,719 | ||
| 10.4% | 8.6% | 9.0% | 10.5% | 20.3% | 18.0% | 19.1% | 28.7% | 21.2% | 18.9% | 18.3% | 21.1% | 13.9% | 22.4% | 15.1% | 14.0% | 11.1% | 23.2% | 51.8% | 31.1% | ||
| 1.13 | 1.04 | 1.04 | 1.05 | 1.20 | 1.22 | 1.25 | 1.39 | 1.21 | 1.14 | 0.89 | 1.20 | 1.01 | 0.85 | 0.77 | 0.68 | 0.70 | 1.18 | 1.67 | 1.46 | ||
| 0.62 | 0.62 | 0.35 | 0.43 | 0.79 | 0.65 | 0.78 | 0.59 | 0.36 | 0.43 | 0.29 | 0.39 | 0.32 | 0.37 | 0.40 | 0.36 | 0.53 | 0.78 | 0.69 | 0.51 | ||
| 8.60 | 10.62 | 10.05 | 8.57 | 3.93 | 4.55 | 4.24 | 2.48 | 3.71 | 4.29 | 4.46 | 3.74 | 6.18 | 3.46 | 5.63 | 6.15 | 7.97 | 3.31 | 0.93 | 2.21 | ||
| -1.9% | -30.9% | -22.9% | -78.2% | 30.5% | -1.2% | -59.8% | -1.7% | 2.7% | 6.9% | 16.1% | 29.1% | -111.8% | 11.4% | -14.1% | 11.5% | 6.1% | 16.5% | 34.0% | -25.5% | ||
| -0.2% | -2.7% | -2.1% | -8.2% | 6.2% | -0.2% | -11.4% | -0.5% | 0.6% | 1.3% | 3.0% | 6.1% | -15.6% | 2.6% | -2.1% | 1.6% | 0.7% | 3.8% | 17.6% | -7.9% | ||
| 1.52 | 1.02 | -1.33 | -0.68 | 6.63 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 4 | 4 | 4 |
| full-time | 4 | 3 | 4 | 4 | 4 |
| part-time | - | 1 | - | - | - |
| in full-time equivalents | 4 | 3.5 | 4 | 4 | 4 |
| 4 | 3.7 | 4 | 4 | 3.7 | |
| On a permanent contract | 4 | 4 | 4 | 4 | 4 |
| Joined | 2 | 1 | 1 | 1 | 7 |
| Left | 2 | 1 | 1 | 1 | 6 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €57,521 |
| €11,504 | €11,504 | €11,504 | €11,504 | €7,722 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €2,974, smaller than the loss of €4,485 in 2024.
Debt's share of the balance-sheet total falls from 91.4% to 89.6%. Equity and debt are lower.
EXCEPTION has no parent and no holdings in its annual accounts. EXCEPTION shares no director with another company.
| Association européenne des Actionnaires Salariés, pour le Développement de l'Actionnariat salarié
registered office since 06-05-1999 |
founded in 1999 0467.260.183 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Tongerenstraat 45 registered office 1040 Etterbeek | 08-05-1984 | 2.155.498.069 |
| Baljuwstraat 104 1050 Ixelles | 16-02-2019 | 2.285.361.174 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21447B0216/00K005 | 283 m² | 1 · 195 m² | 20.7 m · 3 |
| 21005A0574/00W000 | 239 m² | 1 · 180 m² | 18.6 m · 1 |
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