FASE 3
Annual accounts 2025
abbreviated format, filed on 15-07-2026, 16 days before the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €50,000. Estimated: probably between €23,000 and €160,000.
Balance sheet
balance sheet total €31,664 on 31-12-2025in euro
in euro
Position in the sector
-130.1%
Higher than 5% of 3,405 companies in 2025.
1.73
Higher than 47% of 3,266 companies in 2025.
-15.0%
Higher than 13% of 3,314 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
31,664 | 33,897 | 55,242 | 91,039 | 85,165 | 46,343 | 45,982 | 37,346 | 30,835 | |
21/28 |
9,410 | 18,993 | 33,215 | 47,920 | 33,053 | 39,334 | 40,942 | 31,047 | 28,651 | |
21 |
9,410 | 18,993 | 33,215 | 47,920 | 33,053 | 39,334 | 40,942 | 31,047 | 28,651 | |
29/58 |
22,254 | 14,904 | 22,027 | 43,119 | 52,112 | 7,009 | 5,040 | 6,298 | 2,184 | |
40/41 |
16,737 | 2,224 | 2,433 | 3,711 | 129 | 1,491 | 3,845 | 4,069 | 1,933 | |
40 |
16,737 | 1,577 | 1,426 | 1,068 | 19 | - | - | 95 | - | |
41 |
- | 647 | 1,007 | 2,644 | 110 | 1,491 | 3,845 | 3,974 | 1,933 | |
54/58 |
5,517 | 12,680 | 19,294 | 38,958 | 51,983 | 5,518 | 1,195 | 1,230 | 251 | |
490/1 |
- | - | 300 | 450 | - | - | - | 1,000 | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
31,664 | 33,897 | 55,242 | 91,039 | 85,165 | 46,343 | 45,982 | 37,346 | 30,835 | |
10/15 |
-41,207 | -36,454 | -31,274 | -6,823 | 2,657 | -35,195 | -25,369 | -10,744 | 5,871 | |
10/11 |
90,000 | 90,000 | 78,000 | 78,000 | 78,000 | 30,000 | 30,000 | 30,000 | 30,000 | |
100 |
- | - | - | - | - | - | 30,000 | 30,000 | 30,000 | |
14 |
-131,207 | -126,454 | -109,274 | -84,823 | -75,343 | -65,195 | -55,369 | -40,744 | -24,129 | |
17/49 |
72,871 | 70,351 | 86,516 | 97,862 | 82,508 | 81,539 | 71,351 | 48,090 | 24,964 | |
17 |
60,000 | 62,845 | 76,798 | 82,233 | 79,070 | 77,394 | - | - | - | |
170/4 |
60,000 | 62,845 | 76,798 | 82,233 | 79,070 | 77,394 | - | - | - | |
42/48 |
12,871 | 7,244 | 9,718 | 15,629 | 3,438 | 4,145 | 71,351 | 48,090 | 24,964 | |
44 |
10,234 | 6,155 | 9,086 | 15,058 | 3,151 | 3,858 | 19,338 | 3,962 | 3,951 | |
440/4 |
10,234 | 6,155 | 9,086 | 15,058 | 3,151 | 3,858 | 19,338 | 3,962 | 3,951 | |
46 |
- | - | - | - | - | - | - | 115 | - | |
45 |
1,547 | - | - | - | - | - | - | - | - | |
450/3 |
1,547 | - | - | - | - | - | - | - | - | |
47/48 |
1,089 | 1,089 | 632 | 572 | 287 | 287 | 52,013 | 44,013 | 21,013 | |
492/3 |
- | 262 | - | - | - | - | - | - | - | |
| Income statement | ||||||||||
9900 |
7,259 | 1,384 | -4,409 | 8,602 | 5,490 | 6,551 | -2,702 | -5,397 | -11,482 | |
630 |
9,582 | 14,223 | 14,704 | 14,185 | 15,197 | 15,953 | 11,313 | 10,832 | 12,279 | |
640/8 |
120 | 141 | 132 | 122 | 120 | 119 | 285 | 130 | 127 | |
9901 |
-2,443 | -12,979 | -19,245 | -5,705 | -9,827 | -9,522 | -14,300 | -16,359 | -23,888 | |
75/76B |
- | - | - | - | 17 | - | 6 | - | 1 | |
75 |
- | - | - | - | 17 | - | 6 | - | 1 | |
65/66B |
2,309 | 4,201 | 5,206 | 3,775 | 337 | 305 | 331 | 256 | 242 | |
65 |
2,309 | 4,201 | 5,206 | 3,775 | 337 | 305 | 331 | 256 | 242 | |
9903 |
-4,753 | -17,180 | -24,451 | -9,480 | -10,148 | -9,826 | -14,625 | -16,615 | -24,129 | |
9904 |
-4,753 | -17,180 | -24,451 | -9,480 | -10,148 | -9,826 | -14,625 | -16,615 | -24,129 | |
9905 |
-4,753 | -17,180 | -24,451 | -9,480 | -10,148 | -9,826 | -14,625 | -16,615 | -24,129 | |
| Appropriation of the result | ||||||||||
9906 |
-131,207 | -126,454 | -109,274 | -84,823 | -75,343 | -65,195 | -55,369 | -40,744 | -24,129 | |
14P |
-126,454 | -109,274 | -84,823 | -75,343 | -65,195 | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 7 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 15-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-07-2026 | 2026-00301280 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00294218 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00214909 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00132260 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20070923 | |
| 31-12-2020 | micro format | 24-06-2021 | 2021-25200279 | |
| 31-12-2019 | micro format | 18-06-2020 | 2020-18200413 | |
| 31-12-2018 | micro format | 27-06-2019 | 2019-25300114 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-21300280 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 7,139 | 1,244 | -4,541 | 8,480 | 5,370 | 6,432 | -2,987 | -5,527 | -11,609 | ||
| 4,830 | -2,957 | -9,747 | 4,705 | 5,050 | 6,127 | -3,312 | -5,783 | -11,850 | ||
| 0 | 0 | 0 | 29,052 | 8,916 | 14,346 | 21,208 | 13,228 | 40,930 | ||
| -7,163 | -6,614 | -19,664 | -13,025 | 46,465 | 4,323 | -34 | 979 | - | ||
| 9,383 | 7,660 | 12,309 | 27,490 | 48,674 | 2,864 | -66,311 | -41,791 | -22,780 | ||
| -130.1% | -107.5% | -56.6% | -7.5% | 3.1% | -75.9% | -55.2% | -28.8% | 19.0% | ||
| 1.73 | 2.06 | 2.27 | 2.76 | 15.16 | 1.69 | 0.07 | 0.13 | 0.09 | ||
| - | - | - | - | 31.05 | - | - | - | 4.25 | ||
| - | - | - | - | -381.9% | - | - | - | -411.0% | ||
| -15.0% | -50.7% | -44.3% | -10.4% | -11.9% | -21.2% | -31.8% | -44.5% | -78.3% | ||
| 3.09 | 0.30 | -0.87 | 2.25 | 15.93 | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Intangible fixed assets | - | - | - | €29,052 | €8,916 |
| €9,582 | €14,223 | €14,704 | €14,185 | €15,197 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on FASE 3
The operating result for 2025 is a loss of €2,443, smaller than the loss of €12,979 in 2024.
Equity is negative. Debt (€72,871) exceeds the balance-sheet total (€31,664).