FARMASTEF
ActiveSummary
FARMASTEF has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €575,014 and a net result of €42,676. Equity is growing by about 6.7% per year across the filed financial years. Its solvency ranks better than 81% of 10,603 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (3 days) Filed on 3 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00563881.
Equity
€575,014▲ 8.0%
2024 · €532,338
Total assets
€677,098▲ 6.8%
2024 · €634,239
Net result
€42,676▼ 33.8%
2024 · €64,447
Working capital
€43,683▼ 2.5%
2024 · €44,800
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 36% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€58,312
2025
Net result€42,676
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€677,098
2025
Equity€575,014
2025
Debt€102,084
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€43,683
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)6.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency84.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.56
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€54,120-€43,774▼ 19.1%€39,878▼ 8.9%€79,246▲ 98.7%€36,638▼ 53.8%€90,408▲ 147%€58,312▼ 35.5%
Net result€34,464-€25,597within the sector's middle half▼ 25.7%€27,842within the sector's middle half▲ 8.8%€54,407within the sector's middle half▲ 95.4%€28,348within the sector's middle half▼ 47.9%€64,447within the sector's middle half▲ 127%€42,676within the sector's middle half▼ 33.8%
Equity€387,948-€413,545within the sector's middle half▲ 6.6%€441,387within the sector's middle half▲ 6.7%€480,543within the sector's middle half▲ 8.9%€508,891within the sector's middle half▲ 5.9%€532,338within the sector's middle half▲ 4.6%€575,014within the sector's middle half▲ 8.0%
Total assets€646,085-€625,788within the sector's middle half▼ 3.1%€637,763within the sector's middle half▲ 1.9%€624,379within the sector's middle half▼ 2.1%€608,438within the sector's middle half▼ 2.6%€634,239within the sector's middle half▲ 4.2%€677,098within the sector's middle half▲ 6.8%
Debt€258,137-€212,243▼ 17.8%€196,376▼ 7.5%€143,836▼ 26.8%€99,547▼ 30.8%€101,901▲ 2.4%€102,084▲ 0.2%
Working capital€32,393-€32,236within the sector's middle half▼ 0.5%€38,613within the sector's middle half▲ 19.8%€47,049within the sector's middle half▲ 21.8%€48,781within the sector's middle half▲ 3.7%€44,800within the sector's middle half▼ 8.2%€43,683within the sector's middle half▼ 2.5%
Solvency60.0%-66.1%within the sector's middle half▲ 6.0pp69.2%within the sector's middle half▲ 3.1pp77.0%within the sector's middle half▲ 7.8pp83.6%above the sector's middle half▲ 6.7pp83.9%above the sector's middle half▲ 0.3pp84.9%above the sector's middle half▲ 1.0pp
Current ratio1.48-1.49within the sector's middle half▲ 0.021.46within the sector's middle half▼ 0.031.63within the sector's middle half▲ 0.171.71within the sector's middle half▲ 0.081.45within the sector's middle half▼ 0.261.56within the sector's middle half▲ 0.11
Return on assets (ROA)5.3%-4.1%within the sector's middle half▼ 1.2pp4.4%within the sector's middle half▲ 0.3pp8.7%within the sector's middle half▲ 4.3pp4.7%within the sector's middle half▼ 4.1pp10.2%within the sector's middle half▲ 5.5pp6.3%within the sector's middle half▼ 3.9pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €677,098
Fixed assets
€555,828 ▲ 13.3%
Current assets
€121,270 ▼ 15.7%
Equity and liabilities €677,098
Equity
€575,014 ▲ 8.0%
Debt
€102,084 ▲ 0.2%
Debt's share of the balance-sheet total falls from 16.1% to 15.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€65,915▼
2024 · €90,788
Cash flow
€50,279▼
2024 · €64,826
Debt to equity
0.18▼
2024 · 0.19
ROE
7.4%▼
2024 · 12.1%
Interest coverage
60.77▼
2024 · 68.05
Debt ≤ 1 year
€77,587▼
2024 · €99,048
Debt > 1 year
€20,559
Income taxes
€16,771▼
2024 · €25,509
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €2,677 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,441 | €19,506 | €13,169 | €12,855 | €13,076 | €379 | €7,603 | ▲ 1,906% |
| Other operating charges640/8 | - | - | - | €1,641 | €1,411 | €1,634 | €1,386 | ▼ 15.2% |
| Gross operating margin9900 | €75,415 | €65,677 | €54,817 | €93,742 | €51,124 | €92,422 | €67,300 | ▼ 27.2% |
| Operating profit (loss)9901 | €54,120 | €43,774 | €39,878 | €79,246 | €36,638 | €90,408 | €58,312 | ▼ 35.5% |
| Financial income75/76B | - | - | - | €2,651 | €7,097 | €882 | €2,220 | ▲ 152% |
| Recurring financial income75 | €192 | €1,898 | €438 | €2,651 | €897 | €882 | €2,220 | ▲ 152% |
| Non-recurring financial income76B | - | - | - | - | €6,200 | - | - | - |
| Financial charges65/66B | - | - | - | €4,782 | €2,859 | €1,334 | €1,085 | ▼ 18.7% |
| Recurring financial charges65 | €4,052 | €5,270 | €2,861 | €4,782 | €2,859 | €1,334 | €1,085 | ▼ 18.7% |
| Profit (loss) for the period before taxes9903 | €50,756 | €38,237 | €39,620 | €77,116 | €40,876 | €89,956 | €59,447 | ▼ 33.9% |
| Income taxes67/77 | €16,292 | €12,640 | €11,778 | €22,709 | €12,529 | €25,509 | €16,771 | ▼ 34.3% |
| Profit (loss) for the period9904 | €34,464 | €25,597 | €27,842 | €54,407 | €28,348 | €64,447 | €42,676 | ▼ 33.8% |
| Profit (loss) for the period to be appropriated9905 | €34,464 | €25,597 | €27,842 | €54,407 | €28,348 | €64,447 | €42,676 | ▼ 33.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €646,085 | €625,788 | €637,763 | €624,379 | €608,438 | €634,239 | €677,098 | ▲ 6.8% |
| Fixed assets21/28 | €545,914 | €528,261 | €515,092 | €502,237 | €490,770 | €490,391 | €555,828 | ▲ 13.3% |
| Tangible fixed assets22/27 | €56,467 | €38,814 | €25,645 | €12,790 | €1,323 | €944 | €66,381 | ▲ 6,930% |
| Plant, machinery and equipment23 | - | - | - | €553 | €1,323 | €944 | €565 | ▼ 40.1% |
| Furniture and vehicles24 | - | - | - | €12,237 | - | - | €65,816 | - |
| Financial fixed assets28 | €489,447 | €489,447 | €489,447 | €489,447 | €489,447 | €489,447 | €489,447 | = |
| Current assets29/58 | €100,172 | €97,528 | €122,671 | €122,142 | €117,668 | €143,848 | €121,270 | ▼ 15.7% |
| Amounts receivable within one year40/41 | €54,300 | €48,847 | €53,794 | €74,010 | €62,659 | €84,622 | €14,691 | ▼ 82.6% |
| Trade receivables40 | - | - | - | - | - | €436 | - | - |
| Other amounts receivable41 | - | - | - | €74,010 | €62,659 | €84,186 | €14,691 | ▼ 82.5% |
| Current investments50/53 | €37,128 | €33,963 | €36,197 | €30,462 | €34,083 | €34,083 | €29,157 | ▼ 14.5% |
| Cash at bank and in hand54/58 | €3,036 | €11,839 | €25,102 | €13,899 | €16,647 | €22,064 | €73,305 | ▲ 232% |
| Deferred charges and accrued income490/1 | - | - | - | €3,770 | €4,279 | €3,079 | €4,117 | ▲ 33.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €646,085 | €625,788 | €637,763 | €624,379 | €608,438 | €634,239 | €677,098 | ▲ 6.8% |
| Equity10/15 | €387,948 | €413,545 | €441,387 | €480,543 | €508,891 | €532,338 | €575,014 | ▲ 8.0% |
| Contributions10/11 | €212,400 | - | - | €212,400 | €212,400 | €212,400 | €212,400 | = |
| Reserves13 | €135,000 | €160,000 | €185,600 | €224,750 | €253,050 | €276,450 | €319,126 | ▲ 15.4% |
| Non-distributable reserves130/1 | - | - | - | €14,450 | €15,950 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €14,450 | €15,950 | - | - | - |
| Distributable reserves133 | - | - | - | €210,300 | €237,100 | €276,450 | €319,126 | ▲ 15.4% |
| Profit (loss) carried forward14 | €40,548 | €41,145 | €43,387 | €43,393 | €43,441 | €43,488 | €43,488 | = |
| Amounts payable17/49 | €258,137 | €212,243 | €196,376 | €143,836 | €99,547 | €101,901 | €102,084 | ▲ 0.2% |
| Amounts payable after more than one year17 | €188,359 | €144,699 | €105,221 | €65,173 | €27,359 | - | €20,559 | - |
| Financial debts170/4 | - | - | - | €65,173 | €27,359 | - | €20,559 | - |
| Amounts payable within one year42/48 | €67,778 | €65,292 | €84,058 | €75,093 | €68,887 | €99,048 | €77,587 | ▼ 21.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €40,047 | €37,814 | €27,359 | €10,693 | ▼ 60.9% |
| Financial debts43 | - | - | - | €15,022 | €15,062 | €11,296 | €18,822 | ▲ 66.6% |
| Credit institutions430/8 | - | - | - | €15,022 | €15,062 | €11,296 | €18,822 | ▲ 66.6% |
| Trade debts44 | €778 | €212 | €2,466 | €2,242 | €2,533 | €762 | €1,685 | ▲ 121% |
| Suppliers440/4 | - | - | - | €2,242 | €2,533 | €762 | €1,685 | ▲ 121% |
| Taxes, remuneration and social security45 | - | - | - | €6,038 | €5,220 | €13,033 | €0 | ▼ 100.0% |
| Taxes450/3 | - | - | - | €3,470 | €2,104 | €12,604 | €0 | ▼ 100.0% |
| Remuneration and social security454/9 | - | - | - | €2,568 | €3,116 | €430 | - | - |
| Other amounts payable47/48 | - | - | - | €11,744 | €8,259 | €46,596 | €46,386 | ▼ 0.5% |
| Accrued charges and deferred income492/3 | - | - | - | €3,570 | €3,301 | €2,854 | €3,938 | ▲ 38.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,464 | €25,597 | €27,842 | €54,407 | €28,348 | €64,447 | €42,676 | ▼ 33.8% |
| + Depreciation and write-downs630 | €19,441 | €19,506 | €13,169 | €12,855 | €13,076 | €379 | €7,603 | ▲ 1,906% |
| Operating cash flow (approximation) | €53,905 | €45,103 | €41,010 | €67,261 | €41,423 | €64,826 | €50,279 | ▼ 22.4% |
| Investment in fixed assets (approximation) | - | -€1,853 | €0 | €0 | -€1,609 | €0 | -€73,040 | - |
| Change in cash | - | €8,802 | €13,264 | -€11,203 | €2,747 | €5,418 | €51,241 | ▲ 846% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2025 | abbreviated format | 03-11-2025 | 2025-00563881 |
| 31-03-2024 | abbreviated format | 29-10-2024 | 2024-00517665 |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00499489 |
| 31-03-2022 | abbreviated format | 29-11-2022 | 2022-20527117 |
| 31-03-2021 | abbreviated format | 30-11-2021 | 2021-78800037 |
| 31-03-2020 | abbreviated format | 30-11-2020 | 2020-74300598 |
| 31-03-2019 | abbreviated format | 25-10-2019 | 2019-71400169 |
| 31-03-2018 | abbreviated format | 12-10-2018 | 2018-69300197 |
| 31-03-2017 | micro format | 28-09-2017 | 2017-64600152 |
| 31-03-2016 | abbreviated format | 20-10-2016 | 2016-65900495 |
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Of the 82,226 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 53,855. 33,869 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.