HARMONIZE IT
Absorbed by DYNAMATEFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 08-05-2026 PDF all 16 filings
Turnover
≈ €4.6m
Estimated: probably between €3.1m and €7.5m
Total assets
€1.7m▲ 1.6%
2024 · €1.7m
Net result
€728,947▲ 10.0%
2024 · €662,520
Working capital
€911,007▲ 498%
2024 · €152,414
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€994,685
▲ 11.9%
2025
20192025
Net result
€728,947
▲ 10.0%
2025
20192025
Equity
€1.1m
▲ 227%
2025
20192025
Total assets
€1.7m
▲ 1.6%
2025
20192025
Debt
€656,188
▼ 51.7%
2025
20192025
Working capital
€911,007
▲ 498%
2025
20192025
Staff (FTE)
14.5
▼ 1.4%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.6m-€0.6m▼ 6.1%€0.7m▲ 21.6%€1.1m▲ 57.9%€0.9m▼ 19.2%€0.9m▼ 0.4%€1.0m▲ 11.9%
Net result€0.5m-€0.5m▼ 5.1%€0.5m▲ 10.6%€0.8m▲ 53.2%€0.7m▼ 17.8%€0.7m▼ 1.4%€0.7m▲ 10.0%
Equity€0.5m-€0.5m▲ 3.6%€0.6m▲ 26.8%€0.8m▲ 34.4%€0.3m▼ 62.3%€0.3m▲ 0.8%€1.1m▲ 227%
Total assets€1.3m-€1.3m▲ 1.7%€1.5m▲ 15.8%€1.9m▲ 26.7%€2.1m▲ 12.1%€1.7m▼ 20.0%€1.7m▲ 1.6%
Debt€0.8m-€0.8m▲ 0.5%€0.8m▲ 8.7%€1.0m▲ 21.0%€1.8m▲ 73.4%€1.4m▼ 23.8%€0.7m▼ 51.7%
Working capital€0.4m-€0.4m▲ 3.0%€0.5m▲ 23.3%€0.8m▲ 42.0%€0.2m▼ 78.1%€0.2m▼ 8.8%€0.9m▲ 498%
Staff (FTE)7-8.2▲ 17.1%8.6▲ 4.9%9.4▲ 9.3%11.4▲ 21.3%14.7▲ 28.9%14.5▼ 1.4%
The operating result for 2025 is 12% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Large changes and their cause
- 2022 Net result +53% on 2021. This financial year ran 18 months, the previous one 12.
Turnover and EBIT margin are not published. The abbreviated 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 €1.7m
Fixed assets
€222,552 ▼ 3.3%
Current assets
€1.5m ▲ 2.3%
Equity and liabilities €1.7m
Equity
€1.1m ▲ 227%
Debt
€656,188 ▼ 51.7%
Debt's share of the balance-sheet total falls from 80.9% to 38.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.1m▲
2024 · €956,640
Cash flow
€800,979▲
2024 · €730,063
Current ratio
2.59▲
2024 · 1.12
Debt to equity
0.62▼
2024 · 4.22
ROE
69.4%▼
2024 · 205.9%
ROA
42.7%▲
2024 · 39.4%
Interest coverage
90.62▼
2024 · over 100
Debt ≤ 1 year
€573,388▼
2024 · €1.3m
Income taxes
€257,697▲
2024 · €239,960
Staff costs
€1.4m▼
2024 · €1.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 13 | 15 | 14 |
| full-time | 7 | 11 | 13 | 13 |
| part-time | 3 | 2 | 2 | 1 |
| in full-time equivalents | 9.4 | 12.6 | 14.6 | 13.8 |
| Average over the year, in full-time equivalents | 9.4 | 11.4 | 14.7 | 14.5 |
| On a permanent contract | 10 | 13 | 15 | 14 |
| Joined | 4 | 3 | 5 | 1 |
| Left | 3 | 0 | 3 | 2 |
| Training hours | - | - | - | 4 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €49,441 | €118,058 | €122,660 | €72,611 |
| Intangible fixed assets | - | - | €29,424 | - |
| Depreciation and write-downs of the year | €59,696 | €51,004 | €67,542 | €72,031 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €1,286 awarded · €1,286 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €836 | €836 |
| 2023 | 1 | €450 | €450 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.4m | €1.2m | €1.5m | €1.4m | ▼ 1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.04m | €0.05m | €0.06m | €0.05m | €0.07m | €0.07m | ▲ 6.6% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.009m | €0.009m | €0.006m | ▼ 30.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.1m | - |
| Gross operating margin9900 | €1.2m | €1.3m | €1.5m | €2.5m | €2.2m | €2.4m | €2.6m | ▲ 9.3% |
| Operating profit (loss)9901 | €0.6m | €0.6m | €0.7m | €1.1m | €0.9m | €0.9m | €1.0m | ▲ 11.9% |
| Financial income75/76B | - | - | - | €0.02m | €0.03m | €0.03m | €0.004m | ▼ 86.2% |
| Recurring financial income75 | €0.001m | €0.001m | €0.01m | €0.004m | €0.03m | €0.01m | €0.004m | ▼ 73.7% |
| Non-recurring financial income76B | - | - | - | €0.01m | €0.005m | €0.01m | - | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.006m | €0.01m | €0.01m | ▼ 13.2% |
| Recurring financial charges65 | €0.005m | €0.004m | €0.003m | €0.004m | €0.004m | €0.007m | €0.01m | ▲ 59.7% |
| Non-recurring financial charges66B | - | - | - | €0.009m | €0.002m | €0.006m | - | - |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.6m | €0.7m | €1.1m | €0.9m | €0.9m | €1.0m | ▲ 9.3% |
| Income taxes67/77 | €0.1m | €0.09m | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 7.4% |
| Profit (loss) for the period9904 | €0.5m | €0.5m | €0.5m | €0.8m | €0.7m | €0.7m | €0.7m | ▲ 10.0% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.5m | €0.5m | €0.8m | €0.7m | €0.7m | €0.7m | ▲ 10.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €1.3m | €1.5m | €1.9m | €2.1m | €1.7m | €1.7m | ▲ 1.6% |
| Fixed assets21/28 | €0.1m | €0.07m | €0.1m | €0.09m | €0.2m | €0.2m | €0.2m | ▼ 3.3% |
| Intangible fixed assets21 | €0.001m | €0.003m | €0.002m | - | - | €0.03m | €0.02m | ▼ 35.7% |
| Tangible fixed assets22/27 | €0.1m | €0.06m | €0.09m | €0.08m | €0.1m | €0.2m | €0.2m | ▲ 5.3% |
| Plant, machinery and equipment23 | - | - | - | €0.007m | €0.01m | €0.003m | €0.003m | ▼ 22.2% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.1m | €0.1m | €0.1m | ▲ 17.0% |
| Other tangible fixed assets26 | - | - | - | - | - | €0.07m | €0.07m | ▼ 11.9% |
| Financial fixed assets28 | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | - | - |
| Current assets29/58 | €1.2m | €1.2m | €1.4m | €1.8m | €1.9m | €1.5m | €1.5m | ▲ 2.3% |
| Amounts receivable within one year40/41 | €0.5m | €0.4m | €0.5m | €1.3m | €1.7m | €1.1m | €1.0m | ▼ 11.7% |
| Trade receivables40 | - | - | - | €0.7m | €0.8m | €0.9m | €1.0m | ▲ 7.5% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.9m | €0.2m | €0.02m | ▼ 90.1% |
| Current investments50/53 | - | €0.09m | €0.2m | €0.07m | - | - | - | - |
| Cash at bank and in hand54/58 | €0.7m | €0.7m | €0.7m | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 44.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.04m | €0.07m | ▲ 98.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.5m | €1.9m | €2.1m | €1.7m | €1.7m | ▲ 1.6% |
| Equity10/15 | €0.5m | €0.5m | €0.6m | €0.8m | €0.3m | €0.3m | €1.1m | ▲ 227% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €0.4m | €0.4m | €0.6m | €0.8m | €0.3m | €0.3m | €0.3m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0.7m | - |
| Amounts payable17/49 | €0.8m | €0.8m | €0.8m | €1.0m | €1.8m | €1.4m | €0.7m | ▼ 51.7% |
| Amounts payable within one year42/48 | €0.7m | €0.8m | €0.8m | €1.0m | €1.8m | €1.3m | €0.6m | ▼ 55.8% |
| Trade debts44 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▼ 4.6% |
| Suppliers440/4 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | ▼ 4.6% |
| Advances received on contracts in progress46 | - | - | - | - | €0.05m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 16.2% |
| Taxes450/3 | - | - | - | €0.07m | €0.1m | €0.1m | €0.05m | ▼ 60.7% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 12.5% |
| Other amounts payable47/48 | - | - | - | €0.6m | €1.2m | €0.7m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | - | €0.06m | €0.08m | ▲ 36.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €508,401 | €482,361 | €533,368 | €816,935 | €671,890 | €662,520 | €728,947 | ▲ 10.0% |
| + Depreciation and write-downs630 | €47,281 | €44,427 | €47,833 | €59,696 | €51,004 | €67,542 | €72,031 | ▲ 6.6% |
| Operating cash flow (approximation) | €555,682 | €526,788 | €581,202 | €876,631 | €722,894 | €730,063 | €800,979 | ▲ 9.7% |
| Investment in fixed assets (approximation) | - | -€12,624 | -€69,955 | -€49,441 | -€118,058 | -€145,389 | -€64,551 | ▲ 55.6% |
| Change in cash | - | -€5,947 | €2,735 | -€234,942 | -€185,363 | €42,699 | €130,168 | ▲ 205% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 08-05-2026 | 2026-00113162 | |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00218499 | |
| 31-12-2023 | abbreviated format | 24-04-2024 | 2024-00067996 | |
| 31-12-2022 | abbreviated format | 16-06-2023 | 2023-00152018 | |
| 30-06-2021 | abbreviated format | 12-01-2022 | 2022-00700322 | |
| 30-06-2020 | abbreviated format | 30-12-2020 | 2020-77400100 | |
| 30-06-2019 | abbreviated format | 28-12-2019 | 2019-78100268 | |
| 30-06-2018 | abbreviated format | 19-10-2018 | 2018-69700523 | |
| 30-06-2017 | abbreviated format | 21-12-2017 | 2017-72800307 | |
| 30-06-2016 | abbreviated format | 16-11-2016 | 2016-67900567 |