GATE55
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 10 filings
Turnover
≈ €76,000
Estimated: probably between €47,000 and €110,000
Total assets
€376,868▼ 9.4%
2024 · €415,754
Net result
€2,050▼ 93.9%
2024 · €33,529
Working capital
-€227,940▼ 1.9%
2024 · -€223,705
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€26,721
▼ 63.2%
2025
20182025
Net result
€2,050
▼ 93.9%
2025
middle half of the sector
20182025
Equity
-€22,459
▲ 8.4%
2025
lowest quarter of the sector
20182025
Total assets
€376,868
▼ 9.4%
2025
middle half of the sector
20182025
Debt
€399,327
▼ 9.3%
2025
20182025
Working capital
-€227,940
▼ 1.9%
2025
lowest quarter of the sector
20182025
Solvency
-6.0%
▼ 0.1pp
2025
lowest quarter of the sector
20182025
Current ratio
0.30
▼ 0.19
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.5%
▼ 7.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€16,556--€6,800▲ 58.9%€31,078€20,994▼ 32.4%-€12,681€94,409€72,695▼ 23.0%€26,721▼ 63.2%
Net result€21,413-€1,885▼ 91.2%€30,960within the sector's middle half▲ 16×€18,253within the sector's middle half▼ 41.0%-€12,932below the sector's middle half€55,655within the sector's middle half€33,529within the sector's middle half▼ 39.8%€2,050within the sector's middle half▼ 93.9%
Equity-€151,861--€149,976▲ 1.2%-€119,016below the sector's middle half▲ 20.6%-€100,762below the sector's middle half▲ 15.3%-€113,694below the sector's middle half▼ 12.8%-€58,039below the sector's middle half▲ 49.0%-€24,509below the sector's middle half▲ 57.8%-€22,459below the sector's middle half▲ 8.4%
Total assets€250,616-€252,900▲ 0.9%€341,756within the sector's middle half▲ 35.1%€314,183within the sector's middle half▼ 8.1%€298,599within the sector's middle half▼ 5.0%€320,411within the sector's middle half▲ 7.3%€415,754within the sector's middle half▲ 29.8%€376,868within the sector's middle half▼ 9.4%
Debt€402,476-€402,876▲ 0.1%€460,772▲ 14.4%€414,945▼ 9.9%€412,293▼ 0.6%€378,450▼ 8.2%€440,263▲ 16.3%€399,327▼ 9.3%
Working capital-€361,861--€359,976▲ 0.5%-€343,951below the sector's middle half▲ 4.5%-€318,089below the sector's middle half▲ 7.5%-€326,764below the sector's middle half▼ 2.7%-€267,272below the sector's middle half▲ 18.2%-€223,705below the sector's middle half▲ 16.3%-€227,940below the sector's middle half▼ 1.9%
Solvency-60.6%--59.3%▲ 1.3pp-34.8%below the sector's middle half▲ 24.5pp-32.1%below the sector's middle half▲ 2.8pp-38.1%below the sector's middle half▼ 6.0pp-18.1%below the sector's middle half▲ 20.0pp-5.9%below the sector's middle half▲ 12.2pp-6.0%below the sector's middle half▼ 0.1pp
Current ratio0.10-0.11▲ 0.010.25below the sector's middle half▲ 0.150.23below the sector's middle half▼ 0.020.21below the sector's middle half▼ 0.020.29below the sector's middle half▲ 0.090.49below the sector's middle half▲ 0.200.30below the sector's middle half▼ 0.19
Return on assets (ROA)8.5%-0.7%▼ 7.8pp9.1%within the sector's middle half▲ 8.3pp5.8%within the sector's middle half▼ 3.2pp-4.3%below the sector's middle half▼ 10.1pp17.4%within the sector's middle half▲ 21.7pp8.1%within the sector's middle half▼ 9.3pp0.5%within the sector's middle half▼ 7.5pp
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 63% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or 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 €376,868
Fixed assets
€277,657 ▲ 37.7%
Current assets
€99,211 ▼ 53.7%
Equity and liabilities
Equity-€22,459
Debt€399,327
Equity is negative. Debt (€399,327) exceeds the balance-sheet total (€376,868).
Key figures and ratios
EBITDA
€28,882▼
2024 · €73,840
Cash flow
€4,212▼
2024 · €34,674
Interest coverage
1.27▼
2024 · 2.79
Debt ≤ 1 year
€327,150▼
2024 · €437,890
Debt > 1 year
€56,739
Income taxes
€1,939▼
2024 · €12,712
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 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,715 | - | €78,250 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €5,846 | €6,020 | €6,135 | €1,145 | €2,162 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €565 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | €3,649 | €5,846 | €6,020 | €6,135 | €1,145 | €2,162 | ▲ 88.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €537 | €467 | €510 | €676 | €527 | ▼ 22.0% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | -€2,451 | -€6,216 | €35,761 | €27,377 | -€6,195 | €101,055 | €74,516 | €29,410 | ▼ 60.5% |
| Operating profit (loss)9901 | -€16,556 | -€6,800 | €31,078 | €20,994 | -€12,681 | €94,409 | €72,695 | €26,721 | ▼ 63.2% |
| Financial income75/76B | - | - | - | - | €0 | €0 | - | - | - |
| Recurring financial income75 | €38,029 | €8,770 | €0 | - | €0 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €240 | €633 | €21,647 | €26,454 | €22,732 | ▼ 14.1% |
| Recurring financial charges65 | €60 | €85 | €117 | €240 | €633 | €21,647 | €26,454 | €22,732 | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | €21,413 | €1,885 | €30,960 | €20,753 | -€13,313 | €72,762 | €46,241 | €3,989 | ▼ 91.4% |
| Income taxes67/77 | €0 | - | - | €2,500 | -€381 | €17,107 | €12,712 | €1,939 | ▼ 84.7% |
| Profit (loss) for the period9904 | €21,413 | €1,885 | €30,960 | €18,253 | -€12,932 | €55,655 | €33,529 | €2,050 | ▼ 93.9% |
| Profit (loss) for the period to be appropriated9905 | €21,413 | €1,885 | €30,960 | €18,253 | -€12,932 | €55,655 | €33,529 | €2,050 | ▼ 93.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 9.4% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 37.7% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0 | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.002m | €0.08m | ▲ 50× |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.01m | €0.01m | €0.002m | €0.08m | ▲ 50× |
| Financial fixed assets28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Current assets29/58 | €0.04m | €0.04m | €0.1m | €0.1m | €0.09m | €0.1m | €0.2m | €0.1m | ▼ 53.7% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0 | - | €0.02m | €0.002m | €0.05m | €0.09m | €0.04m | €0.05m | ▲ 16.9% |
| Trade receivables40 | - | - | - | €0 | €0.04m | €0.09m | €0.04m | €0.04m | ▲ 2.4% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.01m | €0 | €0.002m | €0.008m | ▲ 251% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.04m | €0.04m | €0.09m | €0.09m | €0.03m | €0.02m | €0.2m | €0.05m | ▼ 69.8% |
| Deferred charges and accrued income490/1 | - | - | - | €200 | €0.001m | €235 | €0.001m | €0.001m | ▼ 15.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 9.4% |
| Equity10/15 | -€0.2m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.06m | -€0.02m | -€0.02m | ▲ 8.4% |
| Contributions10/11 | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Capital10 | - | - | - | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Issued capital100 | - | - | - | €3.1m | €3.1m | €3.1m | €3.1m | €3.1m | = |
| Reserves13 | €0 | - | - | - | - | - | - | - | - |
| Profit (loss) carried forward14 | -€3.2m | -€3.2m | -€3.2m | -€3.2m | -€3.2m | -€3.1m | -€3.1m | -€3.1m | ▲ 0.1% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.4m | €0.4m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 9.3% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - | - | €0.06m | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €0.06m | - |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 25.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €0.01m | - |
| Trade debts44 | €0.002m | €0.003m | €0.003m | €228 | €0.01m | €0.003m | €0.003m | €0.006m | ▲ 93.6% |
| Suppliers440/4 | - | - | - | €228 | €0.01m | €0.003m | €0.003m | €0.006m | ▲ 93.6% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | €0.02m | €0.01m | €0.009m | ▼ 36.3% |
| Taxes450/3 | - | - | - | €0 | - | €0.02m | €0.01m | €0.009m | ▼ 36.3% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 28.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0 | €415 | €0.002m | €0.02m | ▲ 550% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,413 | €1,885 | €30,960 | €18,253 | -€12,932 | €55,655 | €33,529 | €2,050 | ▼ 93.9% |
| + Depreciation and write-downs630 | €0 | - | €3,649 | €5,846 | €6,020 | €6,135 | €1,145 | €2,162 | ▲ 88.8% |
| Operating cash flow (approximation) | €21,413 | €1,885 | €34,609 | €24,100 | -€6,912 | €61,791 | €34,674 | €4,212 | ▼ 87.9% |
| Investment in fixed assets (approximation) | - | €0 | -€18,584 | €0 | €0 | -€2,715 | €6,935 | -€78,250 | - |
| Change in cash | - | €2,479 | €47,418 | €2,152 | -€59,657 | -€11,471 | €152,730 | -€121,462 | - |
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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-07-2026 | 2026-00241475 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00143285 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00187783 | |
| 31-12-2022 | micro format | 17-08-2023 | 2023-00332297 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20397867 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55500384 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-38000110 | |
| 31-12-2018 | micro format | 27-09-2019 | 2019-66300253 | |
| 31-12-2017 | abbreviated format | 02-07-2018 | 2018-27700308 | |
| 31-12-2016 | abbreviated format | 11-08-2017 | 2017-43800422 |