FinCom Audit
Dissolution or liquidationFinancials · financial year 2025, full format
2025 annual accounts filed 35 days after the deadline Filed on 4 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00501354.
Annual accounts 2025 filed on 04-09-2026 at the NBB all 11 filings
Turnover
€22,505▼ 7.6%
2024 · €24,355
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€21,273▲ 990%
2024 · €1,952
Working capital
-€29,247▲ 41.7%
2024 · -€50,197
Multi-year overview
2018 to 2025, 4 financial yearsTurnover
€22,505
▼ 7.6%
2025
20182025
Operating result
€37,525
▲ 575%
2025
20182025
Net result
€21,273
▲ 990%
2025
middle half of the sector
20182025
Equity
-€8,724
▲ 70.9%
2025
lowest quarter of the sector
20182025
Total assets
€26,358
▼ 27.9%
2025
lowest quarter of the sector
20182025
Debt
€35,082
▼ 47.3%
2025
20182025
Working capital
-€29,247
▲ 41.7%
2025
middle half of the sector
20182025
Solvency
-33.1%
▲ 48.9pp
2025
lowest quarter of the sector
20182025
Current ratio
0.16
▼ 0.09
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
80.7%
▲ 75.4pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018202320242025
Turnover€17,310-€24,355▲ 40.7%€22,505▼ 7.6%
Operating result€10,410-€1,836-€5,560▲ 203%€37,525▲ 575%
Net result€6,741--€2,748within the sector's middle half-€1,952within the sector's middle half€21,273within the sector's middle half▲ 990%
Equity-€23,017--€31,949below the sector's middle half--€29,997below the sector's middle half▲ 6.1%-€8,724below the sector's middle half▲ 70.9%
Total assets€41,235-€24,293below the sector's middle half-€36,577below the sector's middle half▲ 50.6%€26,358below the sector's middle half▼ 27.9%
Debt€64,252-€56,242-€66,574▲ 18.4%€35,082▼ 47.3%
Working capital-€43,544--€52,149below the sector's middle half--€50,197within the sector's middle half▲ 3.7%-€29,247within the sector's middle half▲ 41.7%
Solvency-55.8%--131.5%below the sector's middle half--82.0%below the sector's middle half▲ 49.5pp-33.1%below the sector's middle half▲ 48.9pp
Current ratio0.32-0.07below the sector's middle half-0.25below the sector's middle half▲ 0.170.16below the sector's middle half▼ 0.09
Return on assets (ROA)16.3%--11.3%below the sector's middle half-5.3%within the sector's middle half▲ 16.6pp80.7%above the sector's middle half▲ 75.4pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is over 6.7 times that of 2024 and the highest since 2018. It is the second rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26,358
Fixed assets
€20,863 ▲ 3.3%
Current assets
€5,495 ▼ 66.4%
Equity and liabilities
Equity-€8,724
Debt€35,082
Equity is negative. Debt (€35,082) exceeds the balance-sheet total (€26,358).
Key figures and ratios
EBITDA
€37,856
Cash flow
€21,605
Interest coverage
6.66
Debt ≤ 1 year
€34,742▼
2024 · €66,574
Debt > 1 year
€340
Income taxes
€13,279
Customer credit
38 days▼
2024 · 69 days
Supplier credit
190 days▼
2024 · 696 days
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | - | €995 |
| Depreciation and write-downs of the year | - | - | €332 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €17,310 | €24,355 | €22,505 | ▼ 7.6% |
| Goods, raw materials, services and sundry goods60/61 | - | €15,474 | €18,727 | €27,009 | ▲ 44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €167 | - | - | €332 | - |
| Other operating charges640/8 | - | - | €68 | - | - |
| Gross operating margin9900 | €17,395 | €1,836 | €5,628 | €37,856 | ▲ 573% |
| Operating profit (loss)9901 | €10,410 | €1,836 | €5,560 | €37,525 | ▲ 575% |
| Financial income75/76B | - | - | €180 | €2,709 | ▲ 15× |
| Recurring financial income75 | €21 | - | €180 | €2,709 | ▲ 15× |
| Financial charges65/66B | - | €4,584 | €3,788 | €5,682 | ▲ 50.0% |
| Recurring financial charges65 | €3,690 | €4,584 | €3,788 | €5,682 | ▲ 50.0% |
| Profit (loss) for the period before taxes9903 | €6,741 | -€2,748 | €1,952 | €34,552 | ▲ 18× |
| Income taxes67/77 | - | - | - | €13,279 | - |
| Profit (loss) for the period9904 | €6,741 | -€2,748 | €1,952 | €21,273 | ▲ 990% |
| Profit (loss) for the period to be appropriated9905 | €6,741 | -€2,748 | €1,952 | €21,273 | ▲ 990% |
| Line | 2018 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €41,235 | €24,293 | €36,577 | €26,358 | ▼ 27.9% |
| Fixed assets21/28 | €20,867 | €20,200 | €20,200 | €20,863 | ▲ 3.3% |
| Tangible fixed assets22/27 | €667 | - | - | €663 | - |
| Furniture and vehicles24 | - | - | - | €663 | - |
| Financial fixed assets28 | €20,200 | €20,200 | €20,200 | €20,200 | = |
| Current assets29/58 | €20,368 | €4,093 | €16,377 | €5,495 | ▼ 66.4% |
| Amounts receivable within one year40/41 | €16,694 | €283 | €4,607 | €2,569 | ▼ 44.2% |
| Trade receivables40 | - | €283 | €4,607 | €2,319 | ▼ 49.7% |
| Other amounts receivable41 | - | - | - | €250 | - |
| Cash at bank and in hand54/58 | €577 | €2,819 | €10,779 | €1,789 | ▼ 83.4% |
| Deferred charges and accrued income490/1 | - | €991 | €991 | €1,137 | ▲ 14.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €41,235 | €24,293 | €36,577 | €26,358 | ▼ 27.9% |
| Equity10/15 | -€23,017 | -€31,949 | -€29,997 | -€8,724 | ▲ 70.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €242 | €242 | €242 | €242 | = |
| Non-distributable reserves130/1 | - | €242 | €242 | €242 | = |
| Legal reserve130 | - | €242 | €242 | €242 | = |
| Profit (loss) carried forward14 | -€41,859 | -€50,791 | -€48,839 | -€27,566 | ▲ 43.6% |
| Amounts payable17/49 | €64,252 | €56,242 | €66,574 | €35,082 | ▼ 47.3% |
| Amounts payable after more than one year17 | €340 | - | - | €340 | - |
| Financial debts170/4 | - | - | - | €340 | - |
| Amounts payable within one year42/48 | €63,912 | €56,242 | €66,574 | €34,742 | ▼ 47.8% |
| Financial debts43 | - | €2,102 | €2,102 | €2,000 | ▼ 4.8% |
| Credit institutions430/8 | - | €2,102 | €2,102 | €2,000 | ▼ 4.8% |
| Trade debts44 | €50,246 | €32,632 | €35,698 | €14,068 | ▼ 60.6% |
| Suppliers440/4 | - | €32,632 | €35,698 | €14,068 | ▼ 60.6% |
| Advances received on contracts in progress46 | - | €61 | €61 | - | - |
| Taxes, remuneration and social security45 | - | €670 | €6,186 | €2,116 | ▼ 65.8% |
| Taxes450/3 | - | - | - | €2,116 | - |
| Remuneration and social security454/9 | - | €670 | €6,186 | - | - |
| Other amounts payable47/48 | - | €20,776 | €22,526 | €16,557 | ▼ 26.5% |
| Line | 2018 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,741 | -€2,748 | €1,952 | €21,273 | ▲ 990% |
| + Depreciation and write-downs630 | €167 | - | - | €332 | - |
| Operating cash flow (approximation) | €6,907 | -€2,748 | €1,952 | €21,605 | ▲ 11× |
| Investment in fixed assets (approximation) | - | - | €0 | -€995 | - |
| Change in cash | - | - | €7,960 | -€8,989 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 04-09-2026 | 2026-00501354 | |
| 31-12-2024 | full format | 04-09-2026 | 2026-00501350 | |
| 31-12-2023 | full format | 04-09-2026 | 2026-00501345 | |
| 31-12-2018 | full format | 29-10-2019 | 2019-72700448 | |
| 31-12-2017 | full format | 08-03-2019 | 2019-06500422 | |
| 31-12-2016 | full format | 20-11-2018 | 2018-72500225 | |
| 31-12-2015 | full format | 19-07-2017 | 2017-34200175 | |
| 31-12-2014 | full format | 31-12-2015 | 2015-71200313 | |
| 31-12-2013 | full format | 26-11-2014 | 2014-68100361 | |
| 31-12-2012 | full format | 30-11-2013 | 2013-67900156 |