FALQA
Dissolved and wound upFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-03-2026 PDF all 9 filings
Equity
€389,000▼ 4.8%
2024 · €408,466
Total assets
€392,549▼ 4.9%
2024 · €412,728
Net result
-€19,466▼ 112%
2024 · -€9,194
Working capital
€389,491▼ 4.6%
2024 · €408,239
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€24,130
▼ 158%
2025
20182025
Net result
-€19,466
▼ 112%
2025
20182025
Equity
€389,000
▼ 4.8%
2025
20182025
Total assets
€392,549
▼ 4.9%
2025
20182025
Debt
€3,549
▼ 16.7%
2025
20182025
Working capital
€389,491
▼ 4.6%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€100,358-€145,945▲ 45.4%€120,277▼ 17.6%€81,875▼ 31.9%€112,780▲ 37.7%-€19,559-€9,351▲ 52.2%-€24,130▼ 158%
Net result€71,259-€100,176▲ 40.6%€84,758▼ 15.4%€57,966▼ 31.6%€79,554▲ 37.2%-€19,975-€9,194▲ 54.0%-€19,466▼ 112%
Equity€115,181-€215,356▲ 87.0%€300,115▲ 39.4%€358,081▲ 19.3%€437,634▲ 22.2%€417,660▼ 4.6%€408,466▼ 2.2%€389,000▼ 4.8%
Total assets€188,433-€276,996▲ 47.0%€379,497▲ 37.0%€388,914▲ 2.5%€471,555▲ 21.2%€429,225▼ 9.0%€412,728▼ 3.8%€392,549▼ 4.9%
Debt€73,252-€61,640▼ 15.9%€79,382▲ 28.8%€30,834▼ 61.2%€33,921▲ 10.0%€11,565▼ 65.9%€4,262▼ 63.2%€3,549▼ 16.7%
Working capital€79,559-€183,012▲ 130%€282,763▲ 54.5%€350,311▲ 23.9%€436,377▲ 24.6%€417,199▼ 4.4%€408,239▼ 2.1%€389,491▼ 4.6%
The operating result for 2025 is a loss of €24,130, larger than the loss of €9,351 in 2024. It is the lowest result since 2018.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €392,549
Equity
€389,000 ▼ 4.8%
Debt
€3,549 ▼ 16.7%
Debt's share of the balance-sheet total falls from 1.0% to 0.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€24,130▼
2024 · -€9,069
Cash flow
-€19,466▼
2024 · -€8,911
Debt to equity
0.01▼
2024 · 0.01
ROE
-5.0%▼
2024 · -2.3%
ROA
-5.0%▼
2024 · -2.2%
Interest coverage
-428.98▼
2024 · -173.50
Debt ≤ 1 year
€3,059▼
2024 · €4,262
Income taxes
€0▼
2024 · €223
A ratio outside any meaningful range has been withheld (balance sheet total €392,549, equity €389,000).
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 | €1,452 | €686 | - | - | - |
| Depreciation and write-downs of the year | €11,034 | €7,199 | €749 | €282 | €0 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €15,702 | €2,253 | ▼ 85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,136 | €17,883 | €15,322 | €11,034 | €7,199 | €749 | €282 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €402 | €405 | €448 | €451 | €669 | ▲ 48.3% |
| Gross operating margin9900 | €112,546 | €163,882 | €136,139 | €93,311 | €120,383 | -€18,362 | -€8,618 | -€23,461 | ▼ 172% |
| Operating profit (loss)9901 | €100,358 | €145,945 | €120,277 | €81,875 | €112,780 | -€19,559 | -€9,351 | -€24,130 | ▼ 158% |
| Financial income75/76B | - | - | - | - | €0 | €903 | €432 | €4,721 | ▲ 992% |
| Recurring financial income75 | - | - | - | - | €0 | €903 | €432 | €4,721 | ▲ 992% |
| Financial charges65/66B | - | - | - | €867 | €1,281 | €71 | €52 | €56 | ▲ 7.6% |
| Recurring financial charges65 | €1,311 | €986 | €956 | €867 | €1,281 | €71 | €52 | €56 | ▲ 7.6% |
| Profit (loss) for the period before taxes9903 | €99,047 | €144,959 | €119,321 | €81,008 | €111,499 | -€18,727 | -€8,971 | -€19,466 | ▼ 117% |
| Income taxes67/77 | €27,788 | €44,784 | €34,563 | €23,042 | €31,945 | €1,248 | €223 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €71,259 | €100,176 | €84,758 | €57,966 | €79,554 | -€19,975 | -€9,194 | -€19,466 | ▼ 112% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €5,000 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €71,259 | €100,176 | €84,758 | €57,966 | €79,554 | -€14,975 | -€9,194 | -€19,466 | ▼ 112% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €188,433 | €276,996 | €379,497 | €388,914 | €471,555 | €429,225 | €412,728 | €392,549 | ▼ 4.9% |
| Fixed assets21/28 | €35,622 | €32,344 | €17,352 | €7,770 | €1,258 | €509 | €227 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €35,622 | €32,344 | €17,352 | €7,770 | €1,258 | €509 | €227 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €1,167 | €1,258 | €509 | €227 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €6,603 | - | - | - | - | - |
| Current assets29/58 | €152,811 | €244,652 | €362,146 | €381,144 | €470,297 | €428,716 | €412,501 | €392,549 | ▼ 4.8% |
| Amounts receivable within one year40/41 | - | €2,239 | €12,682 | €1,958 | €34,810 | €1,115 | €20 | €4,400 | ▲ 225× |
| Trade receivables40 | - | - | - | - | €32,852 | €0 | - | €123 | - |
| Other amounts receivable41 | - | - | - | €1,958 | €1,958 | €1,115 | €20 | €4,276 | ▲ 219× |
| Cash at bank and in hand54/58 | €151,167 | €240,706 | €346,683 | €377,370 | €433,400 | €426,411 | €412,381 | €386,552 | ▼ 6.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1,816 | €2,088 | €1,190 | €100 | €1,597 | ▲ 16× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €188,433 | €276,996 | €379,497 | €388,914 | €471,555 | €429,225 | €412,728 | €392,549 | ▼ 4.9% |
| Equity10/15 | €115,181 | €215,356 | €300,115 | €358,081 | €437,634 | €417,660 | €408,466 | €389,000 | ▼ 4.8% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €96,581 | €196,756 | €281,515 | €339,481 | €419,034 | €414,034 | €414,034 | €414,034 | = |
| Tax-exempt reserves132 | - | - | - | €5,000 | €5,000 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €334,481 | €414,034 | €414,034 | €414,034 | €414,034 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | -€14,975 | -€24,168 | -€43,634 | ▼ 80.5% |
| Amounts payable17/49 | €73,252 | €61,640 | €79,382 | €30,834 | €33,921 | €11,565 | €4,262 | €3,549 | ▼ 16.7% |
| Amounts payable within one year42/48 | €73,252 | €61,640 | €79,382 | €30,834 | €33,921 | €11,517 | €4,262 | €3,059 | ▼ 28.2% |
| Trade debts44 | €2,956 | €3,787 | €1,173 | €218 | €1,788 | €110 | €331 | €3,059 | ▲ 825% |
| Suppliers440/4 | - | - | - | €218 | €1,788 | €110 | €331 | €3,059 | ▲ 825% |
| Taxes, remuneration and social security45 | - | - | - | €19,778 | €20,672 | €683 | €1,079 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €19,778 | €20,672 | €683 | €1,079 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €10,837 | €11,460 | €10,724 | €2,852 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €48 | €0 | €490 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,259 | €100,176 | €84,758 | €57,966 | €79,554 | -€19,975 | -€9,194 | -€19,466 | ▼ 112% |
| + Depreciation and write-downs630 | €12,136 | €17,883 | €15,322 | €11,034 | €7,199 | €749 | €282 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €83,394 | €118,059 | €100,081 | €68,999 | €86,752 | -€19,226 | -€8,911 | -€19,466 | ▼ 118% |
| Investment in fixed assets (approximation) | - | -€14,605 | -€330 | -€1,452 | -€686 | €0 | €0 | €227 | - |
| Change in cash | - | €89,539 | €105,977 | €30,687 | €56,029 | -€6,989 | -€14,029 | -€25,830 | ▼ 84.1% |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-03-2026 | 2026-00054600 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00284824 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00136856 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00138640 | |
| 31-12-2021 | micro format | 10-06-2022 | 2022-20057724 | |
| 31-12-2020 | micro format | 19-07-2021 | 2021-37900601 | |
| 31-12-2019 | micro format | 15-06-2020 | 2020-17200361 | |
| 31-12-2018 | micro format | 13-06-2019 | 2019-18500410 | |
| 31-12-2017 | micro format | 13-06-2018 | 2018-18000347 |