FDAC
Dissolved and wound upFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-04-2026 PDF all 10 filings
Turnover
≈ €170,000
Estimated: probably between €110,000 and €290,000
Total assets
€111,057▲ 15.2%
2024 · €96,412
Net result
€29,314▲ 311%
2024 · €7,128
Working capital
€77,145▲ 22.8%
2024 · €62,828
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€45,095
▲ 212%
2025
20192025
Net result
€29,314
▲ 311%
2025
20192025
Equity
€92,362
▲ 46.5%
2025
20192025
Total assets
€111,057
▲ 15.2%
2025
20192025
Debt
€18,695
▼ 44.0%
2025
20192025
Working capital
€77,145
▲ 22.8%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€5,668-€22,834▲ 303%€54,064▲ 137%-€749€1,153€14,456▲ 13×€45,095▲ 212%
Net result€3,704-€13,731▲ 271%€35,801▲ 161%-€1,511-€2,006▼ 32.8%€7,128€29,314▲ 311%
Equity€38,130-€51,862▲ 36.0%€87,663▲ 69.0%€69,757▼ 20.4%€55,920▼ 19.8%€63,048▲ 12.7%€92,362▲ 46.5%
Total assets€46,431-€72,191▲ 55.5%€125,128▲ 73.3%€120,797▼ 3.5%€83,954▼ 30.5%€96,412▲ 14.8%€111,057▲ 15.2%
Debt€8,301-€20,329▲ 145%€37,465▲ 84.3%€51,040▲ 36.2%€28,034▼ 45.1%€33,364▲ 19.0%€18,695▼ 44.0%
Working capital€38,110-€48,002▲ 26.0%€77,654▲ 61.8%€57,728▼ 25.7%€50,115▼ 13.2%€62,828▲ 25.4%€77,145▲ 22.8%
The operating result for 2025 is over 3.1 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €111,057
Fixed assets
€15,258 ▲ 860%
Current assets
€95,799 ▲ 1.0%
Equity and liabilities €111,057
Equity
€92,362 ▲ 46.5%
Debt
€18,695 ▼ 44.0%
Debt's share of the balance-sheet total falls from 34.6% to 16.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55,409▲
2024 · €18,670
Cash flow
€39,628▲
2024 · €11,343
Current ratio
5.14▲
2024 · 2.96
Debt to equity
0.20▼
2024 · 0.53
ROE
31.7%▲
2024 · 11.3%
ROA
26.4%▲
2024 · 7.4%
Interest coverage
98.87▲
2024 · 6.97
Debt ≤ 1 year
€18,654▼
2024 · €31,993
Income taxes
€14,936▲
2024 · €4,652
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 | €12,000 | €7,556 | - | - | €24,265 |
| Intangible fixed assets | €0 | - | - | - | - |
| Financial fixed assets | €0 | - | - | - | €0 |
| Depreciation and write-downs of the year | €1,998 | €5,537 | €6,224 | €4,214 | €10,314 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €13 | €1,998 | €5,537 | €6,224 | €4,214 | €10,314 | ▲ 145% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €7,878 | -€4,837 | -€14,215 | €0 | - | - |
| Other operating charges640/8 | - | - | €112 | €235 | €144 | €131 | €194 | ▲ 47.7% |
| Gross operating margin9900 | €11,349 | €23,533 | €64,052 | €186 | -€6,695 | €18,801 | €55,602 | ▲ 196% |
| Operating profit (loss)9901 | €5,668 | €22,834 | €54,064 | -€749 | €1,153 | €14,456 | €45,095 | ▲ 212% |
| Financial income75/76B | - | - | €30 | €1,016 | €1 | €2 | €0 | ▼ 100% |
| Recurring financial income75 | €29 | €14 | €30 | €1,016 | €1 | €2 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €1,335 | €1,184 | €1,264 | €2,678 | €844 | ▼ 68.5% |
| Recurring financial charges65 | €743 | €881 | €1,335 | €1,184 | €1,264 | €2,678 | €560 | ▼ 79.1% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €284 | - |
| Profit (loss) for the period before taxes9903 | €4,954 | €21,967 | €52,760 | -€917 | -€111 | €11,780 | €44,251 | ▲ 276% |
| Income taxes67/77 | €1,250 | €8,235 | €16,958 | €594 | €1,895 | €4,652 | €14,936 | ▲ 221% |
| Profit (loss) for the period9904 | €3,704 | €13,731 | €35,801 | -€1,511 | -€2,006 | €7,128 | €29,314 | ▲ 311% |
| Profit (loss) for the period to be appropriated9905 | €3,704 | €13,731 | €35,801 | -€1,511 | -€2,006 | €7,128 | €29,314 | ▲ 311% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €46,431 | €72,191 | €125,128 | €120,797 | €83,954 | €96,412 | €111,057 | ▲ 15.2% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €20 | €4,207 | €10,009 | €12,029 | €5,805 | €1,590 | €15,258 | ▲ 860% |
| Tangible fixed assets22/27 | - | €4,187 | €9,989 | €12,009 | €5,785 | €1,570 | €15,238 | ▲ 870% |
| Furniture and vehicles24 | - | - | €9,989 | €12,009 | €5,785 | €1,570 | €15,238 | ▲ 870% |
| Other tangible fixed assets26 | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €20 | €20 | €20 | €20 | €20 | €20 | €20 | = |
| Current assets29/58 | €46,411 | €67,984 | €115,119 | €108,768 | €78,150 | €94,822 | €95,799 | ▲ 1.0% |
| Stocks and contracts in progress3 | €10,599 | €11,174 | €19,052 | €21,323 | €25,500 | €17,422 | €0 | ▼ 100% |
| Stocks30/36 | - | - | €19,052 | €21,323 | €25,500 | €17,422 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €824 | €6,913 | €21,355 | €16,580 | €9,812 | €3,686 | €5,732 | ▲ 55.5% |
| Trade receivables40 | - | - | €19,455 | €187 | €8,694 | €2,490 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | €1,900 | €16,393 | €1,118 | €1,196 | €5,732 | ▲ 379% |
| Cash at bank and in hand54/58 | €34,989 | €49,835 | €73,988 | €58,318 | €42,465 | €73,166 | €88,259 | ▲ 20.6% |
| Deferred charges and accrued income490/1 | - | - | €723 | €12,548 | €372 | €547 | €1,808 | ▲ 230% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €46,431 | €72,191 | €125,128 | €120,797 | €83,954 | €96,412 | €111,057 | ▲ 15.2% |
| Equity10/15 | €38,130 | €51,862 | €87,663 | €69,757 | €55,920 | €63,048 | €92,362 | ▲ 46.5% |
| Contributions10/11 | €6,200 | €0 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €28,226 | €41,958 | €77,759 | €61,364 | €49,532 | €56,661 | €66,774 | ▲ 17.8% |
| Non-distributable reserves130/1 | - | - | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | €75,899 | €61,364 | €49,532 | €56,661 | €66,774 | ▲ 17.8% |
| Profit (loss) carried forward14 | €3,704 | €3,704 | €3,704 | €2,193 | €188 | €188 | €19,388 | ▲ 103× |
| Amounts payable17/49 | €8,301 | €20,329 | €37,465 | €51,040 | €28,034 | €33,364 | €18,695 | ▼ 44.0% |
| Amounts payable within one year42/48 | €8,301 | €19,981 | €37,465 | €51,040 | €28,034 | €31,993 | €18,654 | ▼ 41.7% |
| Trade debts44 | €3,349 | €210 | €7,737 | €6,095 | €10,011 | €5,389 | €4,663 | ▼ 13.5% |
| Suppliers440/4 | - | - | €7,737 | €6,095 | €10,011 | €5,389 | €4,663 | ▼ 13.5% |
| Advances received on contracts in progress46 | - | - | €25,170 | €26,630 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €823 | €3,591 | €2,740 | €7,709 | €4,712 | ▼ 38.9% |
| Taxes450/3 | - | - | €823 | €2,391 | €2,740 | €7,709 | €4,712 | ▼ 38.9% |
| Remuneration and social security454/9 | - | - | - | €1,200 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | €3,735 | €14,723 | €15,283 | €18,896 | €9,279 | ▼ 50.9% |
| Accrued charges and deferred income492/3 | - | - | €0 | - | - | €1,371 | €41 | ▼ 97.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,704 | €13,731 | €35,801 | -€1,511 | -€2,006 | €7,128 | €29,314 | ▲ 311% |
| + Depreciation and write-downs630 | - | €13 | €1,998 | €5,537 | €6,224 | €4,214 | €10,314 | ▲ 145% |
| Operating cash flow (approximation) | €3,704 | €13,745 | €37,799 | €4,026 | €4,218 | €11,343 | €39,628 | ▲ 249% |
| Investment in fixed assets (approximation) | - | -€4,200 | -€7,800 | -€7,556 | €0 | €0 | -€23,982 | - |
| Change in cash | - | €14,846 | €24,154 | -€15,671 | -€15,852 | €30,701 | €15,093 | ▼ 50.8% |
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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-04-2026 | 2026-00088116 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00205432 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00169842 | |
| 31-12-2022 | micro format | 18-07-2023 | 2023-00243442 | |
| 31-12-2021 | micro format | 14-07-2022 | 2022-20183911 | |
| 30-06-2020 | micro format | 15-01-2021 | 2021-01000554 | |
| 30-06-2019 | micro format | 23-01-2020 | 2020-02000535 | |
| 30-06-2018 | micro format | 16-01-2019 | 2019-01700107 | |
| 30-06-2017 | micro format | 13-12-2017 | 2017-71800318 | |
| 30-06-2016 | full format | 16-01-2017 | 2017-01500363 |