Financials · financial year 2025, micro format
2025 annual accounts filed 60 days after the deadline Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00543304.
Annual accounts 2025 filed on 29-09-2026 at the NBB all 3 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €21,000
Estimated: probably between €10,000 and €43,000
Total assets
€68,873▼ 6.0%
2024 · €73,287
Net result
€1,367▼ 70.5%
2024 · €4,642
Working capital
-€8,829▲ 13.4%
2024 · -€10,196
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€3,822
▼ 52.1%
2025
20232025
Net result
€1,367
▼ 70.5%
2025
lowest quarter of the sector
20232025
Equity
€26,171
▲ 5.5%
2025
middle half of the sector
20232025
Total assets
€68,873
▼ 6.0%
2025
lowest quarter of the sector
20232025
Debt
€42,702
▼ 11.9%
2025
20232025
Working capital
-€8,829
▲ 13.4%
2025
lowest quarter of the sector
20232025
Solvency
38.0%
▲ 4.2pp
2025
middle half of the sector
20232025
Current ratio
0.79
=
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
2.0%
▼ 4.3pp
2025
lowest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€3,633-€7,978▲ 120%€3,822▼ 52.1%
Net result€1,880below the sector's middle half-€4,642within the sector's middle half▲ 147%€1,367below the sector's middle half▼ 70.5%
Equity€21,880below the sector's middle half-€24,804below the sector's middle half▲ 13.4%€26,171within the sector's middle half▲ 5.5%
Total assets€96,806within the sector's middle half-€73,287below the sector's middle half▼ 24.3%€68,873below the sector's middle half▼ 6.0%
Debt€74,927-€48,483▼ 35.3%€42,702▼ 11.9%
Working capital-€28,120below the sector's middle half--€10,196below the sector's middle half▲ 63.7%-€8,829below the sector's middle half▲ 13.4%
Solvency22.6%below the sector's middle half-33.8%within the sector's middle half▲ 11.2pp38.0%within the sector's middle half▲ 4.2pp
Current ratio0.62below the sector's middle half-0.79below the sector's middle half▲ 0.160.79below the sector's middle half=
Return on assets (ROA)1.9%within the sector's middle half-6.3%within the sector's middle half▲ 4.4pp2.0%below the sector's middle half▼ 4.3pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 52% lower than in 2024.
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 €68,873
Fixed assets
€35,000 =
Current assets
€33,873 ▼ 11.5%
Equity and liabilities €68,873
Equity
€26,171 ▲ 5.5%
Debt
€42,702 ▼ 11.9%
Debt's share of the balance-sheet total falls from 66.2% to 62.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.2%▼
2024 · 18.7%
Debt ≤ 1 year
€42,702▼
2024 · €48,483
Income taxes
€1,199▼
2024 · €2,832
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Financial fixed assets | €50,000 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | - | €1,373 | €733 | ▼ 46.6% |
| Non-recurring operating charges66A | - | €14,999 | - | - |
| Gross operating margin9900 | €3,633 | €24,351 | €4,556 | ▼ 81.3% |
| Operating profit (loss)9901 | €3,633 | €7,978 | €3,822 | ▼ 52.1% |
| Financial income75/76B | - | - | €127 | - |
| Recurring financial income75 | - | - | €127 | - |
| Financial charges65/66B | €30 | €505 | €1,383 | ▲ 174% |
| Recurring financial charges65 | €30 | €505 | €1,383 | ▲ 174% |
| Profit (loss) for the period before taxes9903 | €3,603 | €7,473 | €2,566 | ▼ 65.7% |
| Income taxes67/77 | €1,723 | €2,832 | €1,199 | ▼ 57.7% |
| Profit (loss) for the period9904 | €1,880 | €4,642 | €1,367 | ▼ 70.5% |
| Profit (loss) for the period to be appropriated9905 | €1,880 | €4,642 | €1,367 | ▼ 70.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €96,806 | €73,287 | €68,873 | ▼ 6.0% |
| Fixed assets21/28 | €50,000 | €35,000 | €35,000 | = |
| Financial fixed assets28 | €50,000 | €35,000 | €35,000 | = |
| Current assets29/58 | €46,806 | €38,287 | €33,873 | ▼ 11.5% |
| Amounts receivable within one year40/41 | €43,018 | €34,398 | €30,797 | ▼ 10.5% |
| Trade receivables40 | €43,018 | €34,398 | €26,495 | ▼ 23.0% |
| Other amounts receivable41 | - | - | €4,302 | - |
| Cash at bank and in hand54/58 | €2,970 | €2,961 | €2,186 | ▼ 26.2% |
| Deferred charges and accrued income490/1 | €819 | €928 | €890 | ▼ 4.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €96,806 | €73,287 | €68,873 | ▼ 6.0% |
| Equity10/15 | €21,880 | €24,804 | €26,171 | ▲ 5.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €1,880 | €4,804 | €6,171 | ▲ 28.5% |
| Distributable reserves133 | €1,880 | €4,804 | €6,171 | ▲ 28.5% |
| Amounts payable17/49 | €74,927 | €48,483 | €42,702 | ▼ 11.9% |
| Amounts payable within one year42/48 | €74,927 | €48,483 | €42,702 | ▼ 11.9% |
| Trade debts44 | €27,115 | €14,528 | €21,300 | ▲ 46.6% |
| Suppliers440/4 | €27,115 | €14,528 | €21,300 | ▲ 46.6% |
| Taxes, remuneration and social security45 | €33,444 | €25,283 | €4,030 | ▼ 84.1% |
| Taxes450/3 | €32,694 | €25,283 | €4,030 | ▼ 84.1% |
| Remuneration and social security454/9 | €750 | - | - | - |
| Other amounts payable47/48 | €14,368 | €8,671 | €17,372 | ▲ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,880 | €4,642 | €1,367 | ▼ 70.5% |
| Operating cash flow (approximation) | €1,880 | €4,642 | €1,367 | ▼ 70.5% |
| Investment in fixed assets (approximation) | - | €15,000 | €0 | ▼ 100% |
| Change in cash | - | -€9 | -€775 | ▼ 8,832% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.