FAROS
InactiveSignals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€16,148
neutral · Latest accounts filed on time
The financial year that closed on 27-03-2025 was due by 27-10-2025 and was filed on 30-09-2025, 27 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
27 d early
2024
61 d late
2023
2 d early
2022
3 d early
2021
6 d early
2020
1 d early
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 8 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Turnover
€26,565▼ 77.8%
2024 · €119,547
EBIT margin
-153.9%▼ 157.0pp
2024 · 3.2%
Net result
-€40,873
2024 · €12,746
Working capital
-€16,148
2024 · €23,907
Trend over the years
In euros
In per cent
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€224,146€373,344▲ 66.6%€119,547▼ 68.0%€26,565▼ 77.8%
Operating result-€43,911▼ 521%-€108,235▼ 146%-€88,859▲ 17.9%€3,801-€40,873
Net result-€44,314▼ 519%-€108,333▼ 144%-€88,976▲ 17.9%€12,746-€40,873
EBIT margin-48.3%-23.8%▲ 24.5pp3.2%▲ 27.0pp-153.9%▼ 157.0pp
Equity€209,289▼ 17.5%€100,956▼ 51.8%€11,980▼ 88.1%€24,725▲ 106%-€16,148
Total assets€231,313▼ 12.1%€138,512▼ 40.1%€170,404▲ 23.0%€64,661▼ 62.1%€4,674▼ 92.8%
Debt€22,024▲ 132%€37,556▲ 70.5%€158,424▲ 322%€39,936▼ 74.8%€20,822▼ 47.9%
Working capital€187,572▼ 24.5%€84,243▼ 55.1%€7,446▼ 91.2%€23,907▲ 221%-€16,148
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €40,873 after €3,801 in 2024.
Key figures and ratios
Debt ≤ 1 year
€20,822▼
2024 · €39,936
Ratios withheld: a balance sheet total of €4,674 is too small for a meaningful ratio.
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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €224,146 | €373,344 | €119,547 | €26,565 | ▼ 77.8% |
| Goods, raw materials, services and sundry goods60/61 | - | €319,752 | €424,408 | €122,639 | €5,567 | ▼ 95.5% |
| Remuneration, social security and pensions62 | €0 | €234 | €473 | €33 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,477 | €11,379 | €12,179 | €2,796 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €24,156 | -€18,931 | €7,432 | ▲ 139% |
| Other operating charges640/8 | €1,779 | €1,015 | €987 | €9,210 | €492 | ▼ 94.7% |
| Non-recurring operating charges66A | - | - | - | - | €818 | - |
| Gross operating margin9900 | -€33,656 | -€95,606 | -€51,064 | -€3,092 | -€32,131 | ▼ 939% |
| Operating profit (loss)9901 | -€43,911 | -€108,235 | -€88,859 | €3,801 | -€40,873 | ▼ 1,175% |
| Financial income75/76B | - | - | - | €9,081 | - | - |
| Recurring financial income75 | - | - | - | €9,081 | - | - |
| Non-recurring financial income76B | - | - | - | €9,081 | - | - |
| Financial charges65/66B | €402 | €98 | €117 | €135 | - | - |
| Recurring financial charges65 | €402 | €98 | €117 | €135 | - | - |
| Profit (loss) for the period before taxes9903 | -€44,314 | -€108,333 | -€88,976 | €12,746 | -€40,873 | ▼ 421% |
| Profit (loss) for the period9904 | -€44,314 | -€108,333 | -€88,976 | €12,746 | -€40,873 | ▼ 421% |
| Profit (loss) for the period to be appropriated9905 | -€44,314 | -€108,333 | -€88,976 | €12,746 | -€40,873 | ▼ 421% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €231,313 | €138,512 | €170,404 | €64,661 | €4,674 | ▼ 92.8% |
| Fixed assets21/28 | €21,717 | €16,713 | €4,534 | €818 | - | - |
| Intangible fixed assets21 | - | €5,061 | €2,943 | €818 | - | - |
| Tangible fixed assets22/27 | €21,717 | €11,652 | €1,591 | - | - | - |
| Plant, machinery and equipment23 | €6,425 | €3,509 | €592 | - | - | - |
| Furniture and vehicles24 | €15,292 | €8,144 | €999 | - | - | - |
| Current assets29/58 | €209,596 | €121,799 | €165,870 | €63,843 | €4,674 | ▼ 92.7% |
| Amounts receivable within one year40/41 | €59,318 | €99,631 | €102,222 | €61,937 | €4,674 | ▼ 92.5% |
| Trade receivables40 | €48,406 | €68,780 | €98,428 | €61,137 | - | - |
| Other amounts receivable41 | €10,912 | €30,850 | €3,794 | €799 | €4,674 | ▲ 485% |
| Cash at bank and in hand54/58 | €150,212 | €21,752 | €63,168 | €1,849 | - | - |
| Deferred charges and accrued income490/1 | €65 | €417 | €480 | €58 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €231,313 | €138,512 | €170,404 | €64,661 | €4,674 | ▼ 92.8% |
| Equity10/15 | €209,289 | €100,956 | €11,980 | €24,725 | -€16,148 | ▼ 165% |
| Contributions10/11 | €262,400 | €262,400 | €262,400 | €262,400 | €262,400 | = |
| Profit (loss) carried forward14 | -€53,111 | -€161,444 | -€250,420 | -€237,675 | -€278,548 | ▼ 17.2% |
| Amounts payable17/49 | €22,024 | €37,556 | €158,424 | €39,936 | €20,822 | ▼ 47.9% |
| Amounts payable within one year42/48 | €22,024 | €37,556 | €158,424 | €39,936 | €20,822 | ▼ 47.9% |
| Trade debts44 | €22,024 | €37,556 | €28,424 | €12,936 | - | - |
| Suppliers440/4 | €22,024 | €37,556 | €28,424 | €12,936 | - | - |
| Other amounts payable47/48 | - | - | €130,000 | €27,000 | €20,822 | ▼ 22.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€44,314 | -€108,333 | -€88,976 | €12,746 | -€40,873 | ▼ 421% |
| + Depreciation and write-downs630 | €8,477 | €11,379 | €12,179 | €2,796 | - | - |
| Operating cash flow (approximation) | -€35,837 | -€96,954 | -€76,797 | €15,542 | -€40,873 | ▼ 363% |
| Investment in fixed assets (approximation) | - | -€6,375 | €0 | €920 | - | - |
| Change in cash | - | -€128,460 | €41,415 | -€61,318 | - | - |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Back to profitnet €12,746
Net result €12,746 after 5 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€108,333
Net result drops to -€108,333, the lowest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity quadruplescurrent ratio 27.16
Current ratio from 7.70 to 27.16.
31-12
Financial
Equity above €200,000Eq €253,603 ▲2,257%
Equity rises from €10,761 to €253,603.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 ownerOwners 1
- Sourceaccounts INVESS 202430%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.