EXPANSION TEAM
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation on 01-01-2026.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
12 d early
2023
100 d late
2022
59 d late
2021
76 d late
2020
3 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€5k▼ 51.0%
2024 · €10k
Working capital
€8k▼ 36.1%
2024 · €12k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3k€-14k€14k€15k▲ 2.0%€12k▼ 17.5%
Net result€3k€-17k€8k€10k▲ 29.6%€5k▼ 51.0%
Equity€26k▲ 12.0%€10k▼ 63.7%€17k▲ 83.2%€28k▲ 58.9%€33k▲ 18.1%
Total assets€49k▲ 5.9%€283k▲ 478%€281k▼ 0.8%€334k▲ 18.9%€344k▲ 3.1%
Debt€23k▼ 0.3%€273k▲ 1,098%€263k▼ 3.7%€306k▲ 16.3%€311k▲ 1.7%
Working capital€-565▲ 89.7%€-10k▼ 1,588%€2k€12k▲ 648%€8k▼ 36.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 18% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €344k
Fixed assets
€315k ▲ 2.6%
Current assets
€29k ▲ 8.8%
Equity and liabilities €344k
Equity
€33k ▲ 18.1%
Debt
€311k ▲ 1.7%
Debt's share of the balance-sheet total falls from 91.7% to 90.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€28k▲
2024 · €28k
Cash flow
€21k▼
2024 · €23k
Current ratio
1.36▼
2024 · 1.83
Debt to equity
9.52▼
2024 · 11.06
ROE
15.4%▼
2024 · 37.1%
ROA
1.5%▼
2024 · 3.1%
Interest coverage
3.98▼
2024 · 6.27
Debt ≤ 1 year
€21k▲
2024 · €14k
Debt > 1 year
€289k▼
2024 · €291k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €11k | €9k | €13k | €16k | ▲ 23.7% |
| Other operating charges640/8 | €9k | €10k | €7k | €7k | €7k | ▼ 11.4% |
| Non-recurring operating charges66A | €4k | - | - | - | - | - |
| Gross operating margin9900 | €19k | €7k | €30k | €35k | €35k | ▼ 0.8% |
| Operating profit (loss)9901 | €3k | €-14k | €14k | €15k | €12k | ▼ 17.5% |
| Financial income75/76B | - | €37 | €127 | €154 | €154 | = |
| Recurring financial income75 | - | €37 | €127 | €154 | €154 | = |
| Financial charges65/66B | €363 | €2k | €6k | €4k | €7k | ▲ 60.9% |
| Recurring financial charges65 | €363 | €2k | €6k | €4k | €7k | ▲ 60.9% |
| Profit (loss) for the period before taxes9903 | €3k | €-17k | €8k | €10k | €5k | ▼ 51.0% |
| Profit (loss) for the period9904 | €3k | €-17k | €8k | €10k | €5k | ▼ 51.0% |
| Profit (loss) for the period to be appropriated9905 | €3k | €-17k | €8k | €10k | €5k | ▼ 51.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €49k | €283k | €281k | €334k | €344k | ▲ 3.1% |
| Fixed assets21/28 | €28k | €267k | €263k | €308k | €315k | ▲ 2.6% |
| Tangible fixed assets22/27 | €28k | €267k | €263k | €308k | €315k | ▲ 2.6% |
| Land and buildings22 | €23k | €229k | €224k | €219k | €213k | ▼ 2.5% |
| Plant, machinery and equipment23 | - | €34k | €36k | €88k | €102k | ▲ 16.2% |
| Other tangible fixed assets26 | €5k | €4k | €2k | €1k | - | - |
| Current assets29/58 | €21k | €16k | €18k | €26k | €29k | ▲ 8.8% |
| Amounts receivable within one year40/41 | €58 | €5k | €3k | €3k | €3k | ▲ 3.7% |
| Trade receivables40 | €58 | €2k | - | - | - | - |
| Other amounts receivable41 | - | €2k | €3k | €3k | €3k | ▲ 3.7% |
| Cash at bank and in hand54/58 | €19k | €9k | €13k | €21k | €23k | ▲ 10.1% |
| Deferred charges and accrued income490/1 | €2k | €3k | €2k | €2k | €2k | ▲ 3.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €49k | €283k | €281k | €334k | €344k | ▲ 3.1% |
| Equity10/15 | €26k | €10k | €17k | €28k | €33k | ▲ 18.1% |
| Contributions10/11 | €50k | €50k | €50k | €50k | €50k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €5k | = |
| Non-distributable reserves130/1 | €5k | €5k | €5k | - | - | - |
| Reserves not available under the articles1311 | €5k | €5k | €5k | - | - | - |
| Distributable reserves133 | - | - | - | €5k | €5k | = |
| Profit (loss) carried forward14 | €-29k | €-46k | €-38k | €-28k | €-23k | ▲ 18.3% |
| Amounts payable17/49 | €23k | €273k | €263k | €306k | €311k | ▲ 1.7% |
| Amounts payable after more than one year17 | €2k | €248k | €247k | €291k | €289k | ▼ 0.8% |
| Financial debts170/4 | - | €140k | €132k | €124k | €115k | ▼ 7.2% |
| Other amounts payable178/9 | €2k | €107k | €115k | €167k | €174k | ▲ 3.9% |
| Amounts payable within one year42/48 | €21k | €26k | €17k | €14k | €21k | ▲ 46.0% |
| Current portion of amounts payable after more than one year42 | - | €11k | €12k | €9k | €9k | ▲ 2.8% |
| Trade debts44 | €383 | €9k | €2k | €4k | €8k | ▲ 87.7% |
| Suppliers440/4 | €383 | €9k | €2k | €4k | €8k | ▲ 87.7% |
| Other amounts payable47/48 | €21k | €5k | €4k | €2k | €5k | ▲ 162% |
| Accrued charges and deferred income492/3 | - | - | - | €495 | €1k | ▲ 195% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €-17k | €8k | €10k | €5k | ▼ 51.0% |
| + Depreciation and write-downs630 | €3k | €11k | €9k | €13k | €16k | ▲ 23.7% |
| Operating cash flow (approximation) | €6k | €-6k | €17k | €23k | €21k | ▼ 9.0% |
| Investment in fixed assets (approximation) | - | €-250k | €-5k | €-58k | €-24k | ▲ 58.5% |
| Change in cash | - | €-10k | €5k | €8k | €2k | ▼ 73.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
19-01
State Gazette act
Resignations & appointments · Restructuring · End & cessationMerger · Dissolution · Accounting effect8 facts ▸
State Gazette act
Resignations & appointments · Restructuring · End & cessation
Merger · Dissolution · Accounting effect8 facts ▸
- General meeting, 23-12-2025
- Merger, opération assimilée à une fusion par absorption, comptes au 31 décembre 2025
- Dissolution, 01-01-2026
- Accounting effect, 01-01-2026
- Power of attorney, Mikael GOSSIAUX
- Power of attorney, Frédéric Lepoutre Accounting
- Shareholding, 100%
- Discharge, l'approbation des comptes annuels de l'exercice en cours par l'assemblée générale des actionnaires de la Société Absorbante vaudra décharge à l'administrateur u…
2025
19-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €10k ▲29.6%
Operating result €15k, net result €10k, both a record.
08-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 100 days late
2023
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 59 days late
2022
15-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 76 days late
2021
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
Show earlier events
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 60 days late
2017
21-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:SMIL
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 19-01-2026 ↗
- SMIL 100%
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.