FISCO-WIN
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 24 days after the deadline Filed on 24 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00431197.
Annual accounts 2025 filed on 24-08-2026 at the NBB all 8 filings
Turnover
€0
Total assets
€412,885▼ 3.1%
2024 · €425,994
Net result
€33,023▼ 12.5%
2024 · €37,726
Working capital
-€43,372▼ 108%
2024 · -€20,827
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€0
2025
20182025
Operating result
€47,231
▼ 0.5%
2025
20182025
Net result
€33,023
▼ 12.5%
2025
middle half of the sector
20182025
Equity
€140,235
▲ 17.4%
2025
middle half of the sector
20182025
Total assets
€412,885
▼ 3.1%
2025
middle half of the sector
20182025
Debt
€272,650
▼ 11.1%
2025
20182025
Working capital
-€43,372
▼ 108%
2025
lowest quarter of the sector
20182025
Solvency
34.0%
▲ 5.9pp
2025
middle half of the sector
20182025
Current ratio
0.59
▼ 0.19
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
8.0%
▼ 0.9pp
2025
middle half of the sector
20182025
Staff (FTE)
1.4
▼ 6.7%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0
Operating result€1,098-€3,892▲ 254%€6,809▲ 74.9%€3,058▼ 55.1%€56,605▲ 19×€44,797▼ 20.9%€47,464▲ 6.0%€47,231▼ 0.5%
Net result€636-€2,507▲ 294%€5,350below the sector's middle half▲ 113%€1,228below the sector's middle half▼ 77.1%€38,217within the sector's middle half▲ 31×€30,885within the sector's middle half▼ 19.2%€37,726within the sector's middle half▲ 22.2%€33,023within the sector's middle half▼ 12.5%
Equity€16,260-€17,767▲ 9.3%€23,117below the sector's middle half▲ 30.1%€24,344below the sector's middle half▲ 5.3%€62,561within the sector's middle half▲ 157%€93,446within the sector's middle half▲ 49.4%€119,407within the sector's middle half▲ 27.8%€140,235within the sector's middle half▲ 17.4%
Total assets€40,377-€40,647▲ 0.7%€44,112below the sector's middle half▲ 8.5%€360,848within the sector's middle half▲ 718%€409,575within the sector's middle half▲ 13.5%€415,741within the sector's middle half▲ 1.5%€425,994within the sector's middle half▲ 2.5%€412,885within the sector's middle half▼ 3.1%
Debt€24,117-€22,880▼ 5.1%€20,995▼ 8.2%€336,504▲ 16×€347,013▲ 3.1%€322,295▼ 7.1%€306,587▼ 4.9%€272,650▼ 11.1%
Working capital-€20,786--€18,522▲ 10.9%-€15,103below the sector's middle half▲ 18.5%-€40,923below the sector's middle half▼ 171%-€25,333below the sector's middle half▲ 38.1%-€20,292below the sector's middle half▲ 19.9%-€20,827below the sector's middle half▼ 2.6%-€43,372below the sector's middle half▼ 108%
Solvency40.3%-43.7%▲ 3.4pp52.4%within the sector's middle half▲ 8.7pp6.7%below the sector's middle half▼ 45.7pp15.3%below the sector's middle half▲ 8.5pp22.5%below the sector's middle half▲ 7.2pp28.0%below the sector's middle half▲ 5.6pp34.0%within the sector's middle half▲ 5.9pp
Current ratio0.14-0.18▲ 0.040.28below the sector's middle half▲ 0.100.13below the sector's middle half▼ 0.150.70below the sector's middle half▲ 0.560.76below the sector's middle half▲ 0.070.78below the sector's middle half▲ 0.020.59below the sector's middle half▼ 0.19
Return on assets (ROA)1.6%-6.2%▲ 4.6pp12.1%within the sector's middle half▲ 6.0pp0.3%below the sector's middle half▼ 11.8pp9.3%within the sector's middle half▲ 9.0pp7.4%within the sector's middle half▼ 1.9pp8.9%within the sector's middle half▲ 1.4pp8.0%within the sector's middle half▼ 0.9pp
Staff (FTE)0.31.5▲ 400%1.4▼ 6.7%
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 0% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €412,885
Fixed assets
€350,000 =
Current assets
€62,885 ▼ 17.3%
Equity and liabilities €412,885
Equity
€140,235 ▲ 17.4%
Debt
€272,650 ▼ 11.1%
Debt's share of the balance-sheet total falls from 72.0% to 66.0%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
1.94▼
2024 · 2.57
ROE
23.5%▼
2024 · 31.6%
Debt ≤ 1 year
€106,257▲
2024 · €96,821
Debt > 1 year
€166,301▼
2024 · €209,013
Income taxes
€9,980▲
2024 · €4,955
Staff costs
€51,127▼
2024 · €53,103
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 1 |
| full-time | 1 | 1 | 0 |
| part-time | - | 1 | 1 |
| in full-time equivalents | 1 | 1.8 | 0.8 |
| Average over the year, in full-time equivalents | 0.3 | 1.5 | 1.4 |
| On a permanent contract | 1 | 2 | 1 |
| Joined | 2 | 2 | 0 |
| Left | 1 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | €280,000 | €280,000 | €262,961 | €181,172 | €166,301 |
| Carrying value of the other pledged assets | €280,000 | €280,000 | €280,000 | €280,000 | €280,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,998 | - | - | - | - |
| Financial fixed assets | €315,000 | - | - | - | - |
| Depreciation and write-downs of the year | €2,736 | €3,366 | €486 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €0 | - |
| Non-recurring operating income76A | - | - | - | - | €3,589 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €39,479 | €75,696 | - | - | €0 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €0 | €9,579 | €53,103 | €51,127 | ▼ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €442 | €498 | €937 | €2,736 | €3,366 | €486 | - | - | - |
| Other operating charges640/8 | - | - | - | €593 | €596 | €1,016 | €759 | €594 | ▼ 21.7% |
| Gross operating margin9900 | €2,234 | €4,977 | €8,338 | €6,387 | €60,568 | €55,877 | €101,326 | €98,952 | ▼ 2.3% |
| Operating profit (loss)9901 | €1,098 | €3,892 | €6,809 | €3,058 | €56,605 | €44,797 | €47,464 | €47,231 | ▼ 0.5% |
| Financial income75/76B | - | - | - | €13 | €105 | €110 | €114 | €141 | ▲ 23.0% |
| Recurring financial income75 | €0 | €150 | €189 | €13 | €105 | €110 | €114 | €141 | ▲ 23.0% |
| Financial charges65/66B | - | - | - | €601 | €5,615 | €5,495 | €4,897 | €4,368 | ▼ 10.8% |
| Recurring financial charges65 | €177 | €163 | €95 | €601 | €5,615 | €5,495 | €4,897 | €4,368 | ▼ 10.8% |
| Profit (loss) for the period before taxes9903 | €922 | €3,879 | €6,903 | €2,469 | €51,095 | €39,412 | €42,681 | €43,004 | ▲ 0.8% |
| Income taxes67/77 | €286 | €1,372 | €1,553 | €1,242 | €12,878 | €8,528 | €4,955 | €9,980 | ▲ 101% |
| Profit (loss) for the period9904 | €636 | €2,507 | €5,350 | €1,228 | €38,217 | €30,885 | €37,726 | €33,023 | ▼ 12.5% |
| Profit (loss) for the period to be appropriated9905 | €636 | €2,507 | €5,350 | €1,228 | €38,217 | €30,885 | €37,726 | €33,023 | ▼ 12.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €40,377 | €40,647 | €44,112 | €360,848 | €409,575 | €415,741 | €425,994 | €412,885 | ▼ 3.1% |
| Formation expenses20 | €2,046 | €1,549 | €1,051 | €553 | €56 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €35,000 | €35,000 | €37,169 | €353,929 | €351,060 | €350,000 | €350,000 | €350,000 | = |
| Tangible fixed assets22/27 | - | - | €2,169 | €3,929 | €1,060 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €3,929 | €1,060 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €35,000 | €35,000 | €35,000 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Current assets29/58 | €3,331 | €4,098 | €5,892 | €6,366 | €58,459 | €65,741 | €75,994 | €62,885 | ▼ 17.3% |
| Amounts receivable within one year40/41 | €2,710 | €2,837 | €4,027 | €2,215 | €29,396 | €36,748 | €22,779 | €42,062 | ▲ 84.6% |
| Trade receivables40 | - | - | - | €2,215 | €29,396 | €36,748 | €20,215 | €42,000 | ▲ 108% |
| Other amounts receivable41 | - | - | - | - | €0 | - | €2,564 | €62 | ▼ 97.6% |
| Cash at bank and in hand54/58 | €620 | €1,261 | €1,865 | €4,102 | €29,064 | €27,341 | €45,793 | €17,746 | ▼ 61.2% |
| Deferred charges and accrued income490/1 | - | - | - | €50 | €0 | €1,652 | €7,421 | €3,077 | ▼ 58.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €40,377 | €40,647 | €44,112 | €360,848 | €409,575 | €415,741 | €425,994 | €412,885 | ▼ 3.1% |
| Equity10/15 | €16,260 | €17,767 | €23,117 | €24,344 | €62,561 | €93,446 | €119,407 | €140,235 | ▲ 17.4% |
| Contributions10/11 | €15,624 | €15,624 | - | €15,624 | €15,656 | €15,656 | €15,656 | €15,656 | = |
| Reserves13 | €32 | €32 | €32 | €32 | €5,000 | €10,000 | €10,000 | €10,000 | = |
| Non-distributable reserves130/1 | - | - | - | €32 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €32 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €5,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €604 | €2,111 | €7,461 | €8,688 | €41,906 | €67,790 | €93,751 | €114,580 | ▲ 22.2% |
| Amounts payable17/49 | €24,117 | €22,880 | €20,995 | €336,504 | €347,013 | €322,295 | €306,587 | €272,650 | ▼ 11.1% |
| Amounts payable after more than one year17 | - | - | - | €289,215 | €262,961 | €236,230 | €209,013 | €166,301 | ▼ 20.4% |
| Financial debts170/4 | - | - | - | €289,215 | €262,961 | €236,230 | €209,013 | €166,301 | ▼ 20.4% |
| Amounts payable within one year42/48 | €24,117 | €22,620 | €20,995 | €47,289 | €83,792 | €86,034 | €96,821 | €106,257 | ▲ 9.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,785 | €26,254 | €26,731 | €27,217 | €27,712 | ▲ 1.8% |
| Financial debts43 | - | - | - | €0 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Credit institutions430/8 | - | - | - | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Trade debts44 | €47 | €16 | €342 | €54 | €12,705 | €4 | €231 | €7,768 | ▲ 34× |
| Suppliers440/4 | - | - | - | €54 | €12,705 | €4 | €231 | €7,768 | ▲ 34× |
| Taxes, remuneration and social security45 | - | - | - | €7,686 | €27,759 | €37,388 | €35,553 | €27,146 | ▼ 23.6% |
| Taxes450/3 | - | - | - | €5,723 | €27,509 | €32,845 | €24,524 | €22,145 | ▼ 9.7% |
| Remuneration and social security454/9 | - | - | - | €1,963 | €250 | €4,542 | €11,029 | €5,001 | ▼ 54.7% |
| Other amounts payable47/48 | - | - | - | €13,763 | €9,575 | €14,411 | €26,320 | €36,132 | ▲ 37.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €260 | €32 | €753 | €91 | ▼ 87.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €636 | €2,507 | €5,350 | €1,228 | €38,217 | €30,885 | €37,726 | €33,023 | ▼ 12.5% |
| + Depreciation and write-downs630 | €442 | €498 | €937 | €2,736 | €3,366 | €486 | - | - | - |
| Operating cash flow (approximation) | €1,078 | €3,005 | €6,287 | €3,964 | €41,584 | €31,370 | €37,726 | €33,023 | ▼ 12.5% |
| Investment in fixed assets (approximation) | - | -€498 | -€3,106 | -€319,496 | -€498 | €574 | €0 | €0 | - |
| Change in cash | - | €641 | €604 | €2,237 | €24,962 | -€1,722 | €18,452 | -€28,047 | - |
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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-08-2026 | 2026-00431197 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00409762 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00408130 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00374677 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20333726 | |
| 31-12-2020 | micro format | 19-08-2021 | 2021-50500380 | |
| 31-12-2019 | micro format | 11-08-2020 | 2020-40500399 | |
| 31-12-2018 | micro format | 28-07-2019 | 2019-40100164 |