FRICTIONLESS
InactiveFrom the official registers: KBO 9 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2025, micro format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 09-04-2026
- Format
- micro format
- Reference
- 2026-00075580
Equity
€27,941▼ 70.8%
2024 · €95,657
Total assets
€35,121▼ 66.5%
2024 · €104,799
Net result
-€67,716▲ 87.0%
2024 · -€520,190
Working capital
€28,176▼ 70.6%
2024 · €95,922
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €67,203 in 2025 against €57,703 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.07m
2025
Net result-€0.07m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.04m
2025
Equity€0.03m
2025
Debt€0.007m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.03m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.03m▼ 17.3%€0.02m▼ 14.5%€0.006m▼ 72.1%€0.007m▲ 16.4%-€0.04m-€0.06m▼ 42.4%-€0.07m▼ 16.5%
Net result€0.1m-€0.09m▼ 2.5%€0.09m▼ 1.8%€0.08m▼ 12.1%€0.08m▲ 3.3%€0.04m▼ 53.5%-€0.5m-€0.07m▲ 87.0%
Equity€0.3m-€0.4m▲ 28.2%€0.5m▲ 21.6%€0.6m▲ 15.6%€0.7m▲ 13.9%€0.7m▲ 5.7%€0.1m▼ 86.6%€0.03m▼ 70.8%
Total assets€1.0m-€1.0m▼ 0.2%€1.0m▲ 0.4%€1.0m▼ 1.0%€1.0m▲ 0.2%€1.0m▼ 5.1%€0.1m▼ 89.0%€0.04m▼ 66.5%
Debt€0.7m-€0.6m▼ 14.0%€0.5m▼ 14.9%€0.4m▼ 18.1%€0.3m▼ 19.7%€0.2m▼ 27.3%€0.009m▼ 96.2%€0.007m▼ 21.5%
Working capital-€0.04m--€0.03m▲ 20.0%-€0.02m▲ 43.3%-€0.03m▼ 62.5%-€0.03m▲ 1.4%€0.01m€0.1m▲ 569%€0.03m▼ 70.6%
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,121
Fixed assets
€2,263 ▲ 81.7%
Current assets
€32,858 ▼ 68.3%
Equity and liabilities €35,121
Equity
€27,941 ▼ 70.8%
Debt
€7,180 ▼ 21.5%
Debt's share of the balance-sheet total rises from 8.7% to 20.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€65,573▼
2024 · -€55,937
Cash flow
-€66,085▲
2024 · -€518,424
Current ratio
7.02▼
2024 · 13.57
Quick ratio
6.21▼
2024 · 13.57
Debt to equity
0.26▲
2024 · 0.10
ROE
-242.4%▲
2024 · -543.8%
ROA
-192.8%▲
2024 · -496.4%
Interest coverage
-214.00▼
2024 · -0.12
Debt ≤ 1 year
€4,682▼
2024 · €7,632
Income taxes
€208▲
2024 · €165
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,870 | €1,818 | €1,773 | €1,950 | €2,749 | €3,480 | €1,766 | €1,631 | ▼ 7.6% |
| Other operating charges640/8 | - | - | - | €1,350 | €1,399 | €1,394 | €1,198 | €1,749 | ▲ 46.1% |
| Non-recurring operating charges66A | - | - | - | €4,556 | €0 | - | €302 | €0 | ▼ 100% |
| Gross operating margin9900 | €41,077 | €29,762 | €25,622 | €14,089 | €11,402 | -€35,652 | -€54,437 | -€63,823 | ▼ 17.2% |
| Operating profit (loss)9901 | €31,594 | €26,127 | €22,340 | €6,234 | €7,254 | -€40,526 | -€57,703 | -€67,203 | ▼ 16.5% |
| Financial income75/76B | - | - | - | €85,003 | €85,069 | €85,460 | €0 | €1 | ▲ 450% |
| Recurring financial income75 | €85,000 | €85,000 | €85,000 | €85,003 | €85,069 | €85,460 | €0 | €1 | ▲ 450% |
| Financial charges65/66B | - | - | - | €10,229 | €9,034 | €6,211 | €462,323 | €306 | ▼ 99.9% |
| Recurring financial charges65 | €14,936 | €13,110 | €11,680 | €10,229 | €9,034 | €6,211 | €462,323 | €306 | ▼ 99.9% |
| Profit (loss) for the period before taxes9903 | €101,658 | €98,017 | €95,661 | €81,009 | €83,290 | €38,723 | -€520,025 | -€67,508 | ▲ 87.0% |
| Income taxes67/77 | €6,302 | €5,020 | €4,382 | €801 | €435 | €194 | €165 | €208 | ▲ 25.9% |
| Profit (loss) for the period9904 | €95,356 | €92,997 | €91,279 | €80,208 | €82,855 | €38,529 | -€520,190 | -€67,716 | ▲ 87.0% |
| Profit (loss) for the period to be appropriated9905 | €95,356 | €92,997 | €91,279 | €80,208 | €82,855 | €38,529 | -€520,190 | -€67,716 | ▲ 87.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.1m | €0.04m | ▼ 66.5% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.001m | €0.002m | ▲ 81.7% |
| Tangible fixed assets22/27 | €0.01m | €0.005m | €0.006m | €0.005m | €0.006m | €0.003m | €0.001m | €0.002m | ▲ 81.7% |
| Furniture and vehicles24 | - | - | - | €0.005m | €0.006m | €0.003m | €0.001m | €0.002m | ▲ 81.7% |
| Financial fixed assets28 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0 | - | - |
| Current assets29/58 | €0.06m | €0.07m | €0.07m | €0.06m | €0.06m | €0.02m | €0.1m | €0.03m | ▼ 68.3% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | - | €0.004m | - |
| Stocks30/36 | - | - | - | - | - | - | - | €0.004m | - |
| Amounts receivable within one year40/41 | €0.05m | €0.05m | €0.04m | €0.01m | €0.01m | €0.004m | €0.004m | €0.003m | ▼ 16.4% |
| Trade receivables40 | - | - | - | €0.01m | €0.002m | €0 | €0.003m | €0.003m | ▼ 14.1% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.01m | €0.004m | €97 | €0 | ▼ 100% |
| Current investments50/53 | - | - | - | - | €0.006m | €0 | - | - | - |
| Cash at bank and in hand54/58 | €0.006m | €0.02m | €0.03m | €0.05m | €0.05m | €0.01m | €0.1m | €0.02m | ▼ 77.0% |
| Deferred charges and accrued income490/1 | - | - | - | €129 | €364 | €0.001m | €0.005m | €0.004m | ▼ 10.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.1m | €0.04m | ▼ 66.5% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | €0.7m | €0.1m | €0.03m | ▼ 70.8% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | €0.7m | €0.08m | €0.009m | ▼ 87.9% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | €0.7m | €0.08m | €0.009m | ▼ 87.9% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | €0.009m | €0.007m | ▼ 21.5% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | €0 | - | - |
| Financial debts170/4 | - | - | - | €0.3m | €0.2m | €0.2m | €0 | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.09m | €0.09m | €0.09m | €0.002m | €0.008m | €0.005m | ▼ 38.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.08m | €0 | - | - | - |
| Trade debts44 | €352 | €0.001m | €0.001m | €214 | €0.003m | €0.001m | €0.004m | €0.002m | ▼ 50.2% |
| Suppliers440/4 | - | - | - | €214 | €0.003m | €0.001m | €0.004m | €0.002m | ▼ 50.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.005m | €188 | €0.002m | €0.001m | ▼ 36.2% |
| Taxes450/3 | - | - | - | €0.007m | €0.005m | €188 | €0.002m | €0.001m | ▼ 36.2% |
| Other amounts payable47/48 | - | - | - | €109 | €0 | €0.001m | €0.002m | €0.002m | ▼ 17.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | ▲ 65.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €95,356 | €92,997 | €91,279 | €80,208 | €82,855 | €38,529 | -€520,190 | -€67,716 | ▲ 87.0% |
| + Depreciation and write-downs630 | €7,870 | €1,818 | €1,773 | €1,950 | €2,749 | €3,480 | €1,766 | €1,631 | ▼ 7.6% |
| Operating cash flow (approximation) | €103,226 | €94,816 | €93,052 | €82,158 | €85,604 | €42,009 | -€518,424 | -€66,085 | ▲ 87.3% |
| Investment in fixed assets (approximation) | - | €7,685 | -€2,435 | -€1,503 | -€3,938 | €0 | €935,000 | -€2,649 | - |
| Change in cash | - | €17,702 | €9,336 | €15,655 | -€3,222 | -€33,845 | €83,873 | -€73,378 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-04-2026 | 2026-00075580 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00164999 | |
| 31-12-2023 | micro format | 12-04-2024 | 2024-00061973 | |
| 31-12-2022 | micro format | 08-08-2023 | 2023-00318419 | |
| 31-12-2021 | micro format | 13-06-2022 | 2022-20059201 | |
| 31-12-2020 | abbreviated format | 17-08-2021 | 2021-49300408 | |
| 31-12-2019 | abbreviated format | 27-07-2020 | 2020-34400265 | |
| 31-12-2018 | abbreviated format | 19-07-2019 | 2019-35600123 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41800019 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.