FIRST ELEMENT
Annual accounts 2025
abbreviated format, filed on 14-07-2026, 17 days before the deadline-€88,945
▼ €300,226
-€182,743
▼ €316,685
-€236,115
▼ €353,970
€514,442
▼ 30.6%
49.5%
▼ 38.1 percentage points
2.02
▼ 7.37
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance sheet
balance sheet total €1.0m on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
49.5%
Higher than 57% of 9,886 companies in 2025.
2.02
Higher than 57% of 9,650 companies in 2025.
-22.6%
Higher than 6% of 9,765 companies in 2025.
FIRST ELEMENT
Middle half of the sector
80% of the sector
Abbreviated accounts in wholesale trade (NACE 46)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff
€61,928
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
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 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
1.0m | 859,493 | 975,272 | 573,774 | 1.5m | 2.0m | 357,244 | 306,574 | 439,489 | 519,904 | 344,467 | 624,717 | 4.0m | |
21/28 |
24,070 | 29,734 | 43,328 | 48,630 | 10,529 | 14,907 | 19,285 | 14,038 | 17,674 | 18,518 | 19,115 | 22,193 | - | |
22/27 |
10,342 | 16,006 | 29,600 | 38,102 | 1 | 4,379 | 8,757 | 3,510 | 7,146 | 7,990 | 11,067 | 10,645 | - | |
23 |
2,087 | 12,715 | 25,408 | 38,102 | 1 | 3,820 | 7,639 | 1,134 | 3,511 | 5,890 | 8,267 | 10,645 | - | |
24 |
8,255 | 3,292 | 4,192 | - | - | 559 | 1,118 | 2,376 | 3,635 | 2,100 | 2,800 | - | - | |
28 |
13,728 | 13,728 | 13,728 | 10,528 | 10,528 | 10,528 | 10,528 | 10,528 | 10,528 | 10,528 | 8,048 | 11,548 | - | |
29/58 |
1.0m | 829,759 | 931,944 | 525,145 | 1.5m | 1.9m | 337,959 | 292,536 | 421,815 | 501,386 | 325,352 | 602,524 | 4.0m | |
3 |
- | - | - | - | - | - | - | - | - | - | 2,758 | 2,758 | 242,367 | |
30/36 |
- | - | - | - | - | - | - | - | - | - | 2,758 | 2,758 | 242,367 | |
40/41 |
427,834 | 404,401 | 235,868 | 266,938 | 1.2m | 1.8m | 224,543 | 180,052 | 345,354 | 243,317 | 196,439 | 438,130 | 3.4m | |
40 |
- | 15,284 | 526 | 11,474 | 1.0m | 1.5m | - | 8,051 | 214 | 2,827 | - | 253,893 | 3.4m | |
41 |
427,834 | 389,117 | 235,343 | 255,464 | 178,767 | 295,352 | 224,543 | 172,001 | 345,140 | 240,490 | 196,439 | 184,238 | 6,692 | |
54/58 |
571,155 | 405,758 | 677,390 | 243,198 | 169,745 | 144,827 | 104,955 | 104,603 | 70,048 | 30,034 | 122,784 | 161,636 | 320,979 | |
490/1 |
20,300 | 19,600 | 18,685 | 15,009 | 133,457 | 4,561 | 8,461 | 7,881 | 6,413 | 228,035 | 3,371 | - | 27,784 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
1.0m | 859,493 | 975,272 | 573,774 | 1.5m | 2.0m | 357,244 | 306,574 | 439,489 | 519,904 | 344,467 | 624,717 | 4.0m | |
10/15 |
516,749 | 752,864 | 635,009 | 529,493 | 443,886 | 363,839 | 312,358 | 261,335 | 219,833 | 63,257 | 184,539 | 176,870 | 172,224 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
231,860 | 231,860 | 231,860 | 231,860 | 231,860 | 231,860 | 231,860 | 231,860 | 44,657 | 44,657 | 165,939 | 158,270 | 153,624 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
133 |
231,860 | 231,860 | 231,860 | 230,000 | 230,000 | 230,000 | 230,000 | 230,000 | 42,797 | 42,797 | 164,079 | 156,410 | 151,764 | |
14 |
266,289 | 502,404 | 384,549 | 279,033 | 193,426 | 113,379 | 61,898 | 10,875 | 156,576 | - | - | - | - | |
17/49 |
526,611 | 106,629 | 340,263 | 44,281 | 1.1m | 1.6m | 44,886 | 45,239 | 219,656 | 456,647 | 159,928 | 447,847 | 3.8m | |
42/48 |
504,847 | 88,365 | 320,432 | 37,957 | 1.1m | 1.6m | 43,541 | 41,459 | 211,198 | 455,913 | 157,638 | 447,847 | 3.8m | |
44 |
498,310 | 79,044 | 277,123 | 10,254 | 1.1m | 1.6m | 20,092 | 22,043 | 192,478 | 455,913 | 150,893 | 367,132 | 3.7m | |
440/4 |
498,310 | 79,044 | 277,123 | 10,254 | 1.1m | 1.6m | 20,092 | 22,043 | 192,478 | 455,913 | 150,893 | 367,132 | 3.7m | |
46 |
- | - | - | - | - | - | - | - | - | - | 4,736 | - | - | |
45 |
6,537 | 9,321 | 43,309 | 27,703 | 29,139 | 18,826 | 23,449 | 19,416 | 18,720 | - | 2,009 | 80,715 | 78,913 | |
450/3 |
- | 9,321 | 39,766 | 27,703 | 29,139 | 18,826 | 23,449 | 19,416 | 18,720 | - | 2,009 | 80,715 | 78,913 | |
454/9 |
6,537 | - | 3,543 | - | - | - | - | - | - | - | - | - | - | |
47/48 |
- | - | - | - | - | - | - | - | - | - | - | - | 23 | |
492/3 |
21,764 | 18,264 | 19,831 | 6,325 | 4,521 | 1,812 | 1,345 | 3,780 | 8,458 | 734 | 2,290 | - | - | |
| Income statement | ||||||||||||||
76A |
- | - | - | - | - | - | - | 34,857 | 1,082 | - | - | - | - | |
9900 |
-88,945 | 211,281 | 237,783 | 279,070 | 67,215 | 146,348 | 183,791 | 168,216 | 145,833 | -96,535 | 26,131 | 42,166 | 238,014 | |
62 |
74,314 | 57,234 | 38,106 | 29,170 | 18,571 | 40,636 | 79,494 | 76,010 | 64,114 | 5,648 | - | - | - | |
630 |
11,830 | 13,594 | 13,002 | 3,243 | 4,377 | 4,378 | 6,211 | 3,637 | 3,636 | 3,078 | 3,078 | 1,244 | - | |
631/4 |
- | - | 11,474 | - | - | - | 8,992 | - | - | - | - | - | - | |
640/8 |
7,655 | 6,511 | 13,873 | 8,812 | 7,503 | 16,672 | 6,201 | 8,384 | 5,627 | 2,865 | 4,152 | 6,967 | 324 | |
66A |
- | - | - | - | - | - | - | - | 20,292 | - | - | - | - | |
9901 |
-182,743 | 133,942 | 161,328 | 237,845 | 36,764 | 84,662 | 82,893 | 80,185 | 52,164 | -108,126 | 18,901 | 33,955 | 237,690 | |
75/76B |
14,905 | 58,221 | 26,912 | 8,188 | 87,876 | 10,382 | 19,000 | 9,512 | 152,640 | 8,319 | 6,229 | 1,160 | 457 | |
75 |
14,905 | 58,221 | 26,912 | 8,188 | 87,876 | 10,382 | 19,000 | 9,512 | 152,640 | 8,319 | 6,229 | 1,160 | 457 | |
65/66B |
68,276 | 34,987 | 40,200 | 132,723 | 15,454 | 24,737 | 27,544 | 28,779 | 29,508 | 21,176 | 15,452 | 30,362 | 5,610 | |
65 |
68,276 | 34,987 | 40,200 | 132,723 | 15,454 | 24,737 | 27,544 | 28,779 | 29,508 | 21,176 | 15,452 | 30,362 | 5,610 | |
9903 |
-236,115 | 157,176 | 148,040 | 113,310 | 109,186 | 70,307 | 74,349 | 60,918 | 175,296 | -120,983 | 9,678 | 4,754 | 232,537 | |
67/77 |
- | 39,321 | 42,524 | 27,703 | 29,139 | 18,826 | 23,326 | 19,416 | 18,720 | 300 | 2,009 | 107 | 78,913 | |
9904 |
-236,115 | 117,855 | 105,516 | 85,607 | 80,047 | 51,481 | 51,023 | 41,502 | 156,576 | -121,283 | 7,669 | 4,646 | 153,624 | |
9905 |
-236,115 | 117,855 | 105,516 | 85,607 | 80,047 | 51,481 | 51,023 | 41,502 | 156,576 | -121,283 | 7,669 | 4,646 | 153,624 | |
| Appropriation of the result | ||||||||||||||
9906 |
266,289 | 502,404 | 384,549 | 279,033 | 193,426 | 113,379 | 61,898 | 198,078 | 156,576 | -121,283 | 7,669 | 4,646 | 153,624 | |
14P |
502,404 | 384,549 | 279,033 | 193,427 | 113,379 | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | 121,283 | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 187,203 | - | - | 7,669 | 4,646 | 153,624 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | - | - | - | - | 187,203 | - | - | 7,669 | 4,646 | 151,764 | |
| Social balance sheet | ||||||||||||||
9087 |
1.2 | 1.1 | 0.8 | 0.6 | 0.4 | 0.9 | 1.8 | 1.9 | 1.4 | - | - | - | - | |
Hours worked1013 |
2,092 | 1,911 | 1,440 | 1,134 | 711 | 939 | 2,584 | 2,676 | 2,291 | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 6 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 14-07-2026.
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 | 14-07-2026 | 2026-00289618 | |
| 31-12-2024 | abbreviated format | 04-07-2025 | 2025-00228176 | |
| 31-12-2023 | abbreviated format | 15-07-2024 | 2024-00243707 | |
| 31-12-2022 | abbreviated format | 25-09-2023 | 2023-00452511 | |
| 31-12-2021 | abbreviated format | 20-09-2022 | 2022-20431578 | |
| 31-12-2020 | abbreviated format | 27-10-2021 | 2021-73600026 | |
| 31-12-2019 | abbreviated format | 21-07-2020 | 2020-33900036 | |
| 31-12-2018 | abbreviated format | 27-06-2019 | 2019-23100063 | |
| 31-12-2017 | abbreviated format | 16-07-2018 | 2018-32100456 | |
| 31-12-2016 | abbreviated format | 18-08-2017 | 2017-44100497 | |
| 31-12-2015 | abbreviated format | 30-08-2016 | 2016-49700017 | |
| 31-12-2014 | abbreviated format | 02-10-2015 | 2015-63500469 | |
| 31-12-2013 | abbreviated format | 21-11-2014 | 2014-67400454 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -170,913 | 147,535 | 174,330 | 241,088 | 41,141 | 89,040 | 89,104 | 83,822 | 55,800 | -105,048 | 21,979 | 35,199 | - | ||
| -224,285 | 131,448 | 118,518 | 88,850 | 84,424 | 55,859 | 57,234 | 45,139 | 160,212 | -118,205 | 10,747 | 5,891 | - | ||
| 6,166 | 0 | 7,700 | 41,344 | -1 | 0 | 11,459 | 1 | 2,792 | 2,480 | 3,500 | 23,437 | - | ||
| 165,397 | -271,632 | 434,192 | 73,453 | 24,918 | 39,872 | 352 | 34,555 | 40,014 | -92,750 | -38,852 | -159,343 | - | ||
| 514,442 | 741,393 | 611,512 | 487,188 | 437,878 | 350,744 | 294,418 | 251,077 | 210,617 | 45,473 | 167,714 | 154,677 | 172,224 | ||
| 49.5% | 87.6% | 65.1% | 92.3% | 28.8% | 18.6% | 87.4% | 85.2% | 50.0% | 12.2% | 53.6% | 28.3% | 4.4% | ||
| 2.02 | 9.39 | 2.91 | 13.84 | 1.40 | 1.22 | 7.76 | 7.06 | 2.00 | 1.10 | 2.06 | 1.35 | 1.05 | ||
| 2.02 | 9.39 | 2.91 | 13.84 | 1.40 | 1.22 | 7.76 | 7.06 | 2.00 | 1.10 | 2.05 | 1.34 | 0.98 | ||
| 1.02 | 0.14 | 0.54 | 0.08 | 2.47 | 4.38 | 0.14 | 0.17 | 1.00 | 7.22 | 0.87 | 2.53 | 21.95 | ||
| -45.7% | 15.7% | 16.6% | 16.2% | 18.0% | 14.1% | 16.3% | 15.9% | 71.2% | -191.7% | 4.2% | 2.6% | 89.2% | ||
| -22.6% | 13.7% | 10.8% | 14.9% | 5.2% | 2.6% | 14.3% | 13.5% | 35.6% | -23.3% | 2.2% | 0.7% | 3.9% | ||
| -2.50 | 4.22 | 4.34 | 1.82 | 2.66 | - | - | - | - | - | - | - | - |
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 2 | 2 | 1 |
| part-time | 3 | 3 | 2 | 2 | 1 |
| in full-time equivalents | 1.2 | 1.1 | 0.8 | 0.8 | 0.4 |
| 1.2 | 1.1 | 0.8 | 0.6 | 0.4 | |
| On a permanent contract | 3 | - | 2 | 2 | 1 |
| Joined | - | 1 | - | 1 | - |
| Left | - | 0 | - | 0 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,166 | - | €4,500 | €41,344 | - |
| Financial fixed assets | - | - | €3,200 | - | - |
| €11,830 | €13,594 | €13,002 | €3,243 | €4,377 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on FIRST ELEMENT
The operating result for 2025 is a loss of €182,743, after a profit of €133,942 in 2024. It is the lowest result since 2013.
Debt's share of the balance-sheet total rises from 12.4% to 50.5%. Equity is lower and debt is higher.