INFODES
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00479812.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 27 filings
Turnover
≈ €2.1m
Estimated: probably between €1.6m and €3.0m
EBIT margin
Not included in this filing
Net result
€577,137▲ 160%
2024 · €221,786
Working capital
€1.3m▲ 3.5%
2024 · €1.3m
In the rankings
#3 company by total assets in Seraing, Administrative and support services sector#5 company by equity in Seraing, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€519,984
▲ 94.0%
2025
20182025
Net result
€577,137
▲ 160%
2025
highest quarter of the sector
20182025
Equity
€2.6m
▲ 28.7%
2025
middle half of the sector
20182025
Total assets
€6.8m
▲ 1.3%
2025
middle half of the sector
20182025
Debt
€4.2m
▼ 10.4%
2025
20182025
Working capital
€1.3m
▲ 3.5%
2025
middle half of the sector
20182025
Solvency
38.1%
▲ 8.1pp
2025
middle half of the sector
20182025
Current ratio
2.84
▲ 0.08
2025
middle half of the sector
20182025
Return on assets (ROA)
8.5%
▲ 5.2pp
2025
middle half of the sector
20182025
Staff (FTE)
11.7
▲ 11.4%
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€0.3m-€0.1m▼ 48.0%-€0.3m€0.3m€0.3m▲ 12.1%€0.4m▲ 46.4%€0.3m▼ 36.2%€0.5m▲ 94.0%
Net result€0.2m-€0.2m▼ 14.5%-€0.4mbelow the sector's middle half€0.2mabove the sector's middle half€0.2mabove the sector's middle half▲ 19.5%€0.4mabove the sector's middle half▲ 59.0%€0.2mwithin the sector's middle half▼ 37.4%€0.6mabove the sector's middle half▲ 160%
Equity€2.0m-€2.2m▲ 7.5%€1.8mabove the sector's middle half▼ 16.3%€2.0mabove the sector's middle half▲ 10.2%€2.2mwithin the sector's middle half▲ 11.0%€1.8mwithin the sector's middle half▼ 20.3%€2.0mwithin the sector's middle half▲ 12.4%€2.6mwithin the sector's middle half▲ 28.7%
Total assets€2.5m-€2.6m▲ 5.9%€2.1mwithin the sector's middle half▼ 19.8%€2.2mwithin the sector's middle half▲ 4.3%€2.4mwithin the sector's middle half▲ 8.6%€2.8mwithin the sector's middle half▲ 18.1%€6.7mwithin the sector's middle half▲ 138%€6.8mwithin the sector's middle half▲ 1.3%
Debt€0.4m-€0.4m▼ 1.4%€0.3m▼ 37.4%€0.2m▼ 35.0%€0.1m▼ 18.5%€1.0m▲ 610%€4.7m▲ 354%€4.2m▼ 10.4%
Working capital€2.1m-€2.2m▲ 8.1%€1.8mabove the sector's middle half▼ 20.2%€1.9mabove the sector's middle half▲ 5.6%€2.0mabove the sector's middle half▲ 6.4%€1.6mabove the sector's middle half▼ 22.5%€1.3mabove the sector's middle half▼ 17.4%€1.3mwithin the sector's middle half▲ 3.5%
Solvency82.1%-83.3%▲ 1.2pp87.0%above the sector's middle half▲ 3.7pp91.9%above the sector's middle half▲ 4.9pp93.9%above the sector's middle half▲ 2.0pp63.4%within the sector's middle half▼ 30.5pp30.0%within the sector's middle half▼ 33.4pp38.1%within the sector's middle half▲ 8.1pp
Current ratio16.06-15.54▼ 0.5220.54above the sector's middle half▲ 4.9915.27above the sector's middle half▼ 5.2624.73above the sector's middle half▲ 9.462.66within the sector's middle half▼ 22.072.76within the sector's middle half▲ 0.102.84within the sector's middle half▲ 0.08
Return on assets (ROA)7.2%-5.8%▼ 1.4pp-17.0%below the sector's middle half▼ 22.8pp8.5%within the sector's middle half▲ 25.4pp9.3%within the sector's middle half▲ 0.8pp12.5%above the sector's middle half▲ 3.2pp3.3%within the sector's middle half▼ 9.2pp8.5%within the sector's middle half▲ 5.2pp
Staff (FTE)4.6-4.1▼ 10.9%4.5within the sector's middle half▲ 9.8%5.2within the sector's middle half▲ 15.6%7.2within the sector's middle half▲ 38.5%9.1within the sector's middle half▲ 26.4%10.5within the sector's middle half▲ 15.4%11.7within the sector's middle half▲ 11.4%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 94% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.8m
Fixed assets
€4.7m ▲ 1.0%
Current assets
€2.1m ▲ 1.8%
Equity and liabilities €6.8m
Equity
€2.6m ▲ 28.7%
Debt
€4.2m ▼ 10.4%
Debt's share of the balance-sheet total falls from 70.0% to 61.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€564,005▲
2024 · €309,909
Cash flow
€621,158▲
2024 · €263,607
Debt to equity
1.63▼
2024 · 2.34
ROE
22.3%▲
2024 · 11.0%
Interest coverage
3.36▼
2024 · 7.28
Debt ≤ 1 year
€722,833▼
2024 · €730,500
Debt > 1 year
€3.5m▼
2024 · €4.0m
Income taxes
€90,855▲
2024 · €56,334
Staff costs
€773,585▲
2024 · €669,756
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 8 | 11 | 11 | 12 |
| full-time | 6 | 8 | 11 | 11 | 12 |
| in full-time equivalents | 6 | 8 | 11 | 11 | 12 |
| Average over the year, in full-time equivalents | 5.2 | 7.2 | 9.1 | 10.5 | 11.7 |
| On a permanent contract | 6 | 7 | 11 | 11 | 12 |
| Joined | 3 | 4 | 5 | 1 | 2 |
| Left | 2 | 2 | 2 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,194 | €58,328 | €74,031 | €43,174 | €108,330 |
| Financial fixed assets | - | €122,500 | - | €4.4m | - |
| Depreciation and write-downs of the year | €64,764 | €63,650 | €36,108 | €41,821 | €44,021 |
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 | - | - | - | - | €0.01m | - | €0.002m | €0.008m | ▲ 422% |
| Remuneration, social security and pensions62 | - | - | - | €0.2m | €0.5m | €0.6m | €0.7m | €0.8m | ▲ 15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.05m | €0.06m | €0.06m | €0.06m | €0.04m | €0.04m | €0.04m | ▲ 5.3% |
| Other operating charges640/8 | - | - | - | €0.005m | €0.009m | €0.008m | €0.006m | €0.007m | ▲ 13.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €346 | - | €0.002m | - |
| Gross operating margin9900 | €0.6m | €0.4m | €0.4m | €0.5m | €0.8m | €1.0m | €1.0m | €1.3m | ▲ 36.6% |
| Operating profit (loss)9901 | €0.3m | €0.1m | -€0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.5m | ▲ 94.0% |
| Financial income75/76B | - | - | - | €0.003m | €0.001m | €0.04m | €0.05m | €0.3m | ▲ 500% |
| Recurring financial income75 | €0.003m | €0.07m | €0.009m | €0.003m | €0.001m | €0.04m | €0.05m | €0.3m | ▲ 500% |
| Non-recurring financial income76B | - | - | - | €0.003m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.006m | €0.004m | €0.006m | €0.04m | €0.2m | ▲ 294% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.01m | €0.006m | €0.004m | €0.006m | €0.04m | €0.2m | ▲ 294% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | -€0.3m | €0.3m | €0.3m | €0.5m | €0.3m | €0.7m | ▲ 140% |
| Income taxes67/77 | €0.07m | €0.03m | €0.02m | €0.07m | €0.06m | €0.1m | €0.06m | €0.09m | ▲ 61.3% |
| Profit (loss) for the period9904 | €0.2m | €0.2m | -€0.4m | €0.2m | €0.2m | €0.4m | €0.2m | €0.6m | ▲ 160% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.2m | -€0.4m | €0.2m | €0.2m | €0.4m | €0.2m | €0.6m | ▲ 160% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.5m | €2.6m | €2.1m | €2.2m | €2.4m | €2.8m | €6.7m | €6.8m | ▲ 1.3% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €4.7m | €4.7m | ▲ 1.0% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 37.9% |
| Land and buildings22 | - | - | - | €0.001m | - | €0.002m | €0.005m | €0.004m | ▼ 22.0% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 40.3% |
| Financial fixed assets28 | €0.08m | €0.08m | €0.08m | €0.08m | €0.2m | €0.2m | €4.6m | €4.6m | = |
| Current assets29/58 | €2.2m | €2.4m | €1.9m | €2.0m | €2.1m | €2.5m | €2.0m | €2.1m | ▲ 1.8% |
| Amounts receivable after more than one year29 | - | - | - | €0.9m | €0.9m | €0.9m | €0.4m | €0.04m | ▼ 91.3% |
| Trade receivables290 | - | - | - | €0.9m | €0.9m | €0.9m | €0.4m | €0.04m | ▼ 91.3% |
| Amounts receivable within one year40/41 | €1.9m | €0.9m | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | €0.9m | ▲ 156% |
| Trade receivables40 | - | - | - | €0.1m | €0.08m | €0.1m | €0.1m | €0.1m | ▲ 21.7% |
| Other amounts receivable41 | - | - | - | €0.08m | €0.09m | €0.06m | €0.2m | €0.7m | ▲ 222% |
| Current investments50/53 | - | - | - | €0.2m | €0.4m | €1.0m | €1.1m | €0.5m | ▼ 50.9% |
| Cash at bank and in hand54/58 | €0.3m | €0.7m | €0.7m | €0.7m | €0.6m | €0.5m | €0.1m | €0.6m | ▲ 350% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.001m | €0.008m | €0.009m | €0.005m | ▼ 42.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.5m | €2.6m | €2.1m | €2.2m | €2.4m | €2.8m | €6.7m | €6.8m | ▲ 1.3% |
| Equity10/15 | €2.0m | €2.2m | €1.8m | €2.0m | €2.2m | €1.8m | €2.0m | €2.6m | ▲ 28.7% |
| Contributions10/11 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.9m | €0.9m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.9m | €0.9m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Non-distributable reserves130/1 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Legal reserve130 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Distributable reserves133 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Profit (loss) carried forward14 | €1.1m | €1.2m | €0.9m | €1.1m | €1.3m | €1.6m | €1.9m | €2.4m | ▲ 31.0% |
| Amounts payable17/49 | €0.4m | €0.4m | €0.3m | €0.2m | €0.1m | €1.0m | €4.7m | €4.2m | ▼ 10.4% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.2m | €0.05m | €0.06m | €0.1m | €4.0m | €3.5m | ▼ 12.2% |
| Financial debts170/4 | - | - | - | - | - | - | €3.1m | €2.6m | ▼ 16.7% |
| Other amounts payable178/9 | - | - | - | €0.05m | €0.06m | €0.1m | €0.8m | €0.9m | ▲ 4.4% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.09m | €0.1m | €0.08m | €0.9m | €0.7m | €0.7m | ▼ 1.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0.5m | €0.5m | = |
| Financial debts43 | - | - | - | €65 | €8 | - | €0.06m | - | - |
| Credit institutions430/8 | - | - | - | €65 | €8 | - | €0.06m | - | - |
| Trade debts44 | €417 | €0.02m | €0.007m | €0.04m | €0.04m | €0.06m | €0.02m | €0.02m | ▲ 21.0% |
| Suppliers440/4 | - | - | - | €0.04m | €0.04m | €0.06m | €0.02m | €0.02m | ▲ 21.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.05m | €0.06m | €0.1m | €0.2m | ▲ 38.4% |
| Taxes450/3 | - | - | - | €0.05m | €0.002m | €0.002m | €0.03m | €0.04m | ▲ 26.8% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.05m | €0.06m | €0.09m | €0.1m | ▲ 42.7% |
| Other amounts payable47/48 | - | - | - | - | - | €0.8m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.2m | -€0.4m | €0.2m | €0.2m | €0.4m | €0.2m | €0.6m | ▲ 160% |
| + Depreciation and write-downs630 | €0.06m | €0.05m | €0.06m | €0.06m | €0.06m | €0.04m | €0.04m | €0.04m | ▲ 5.3% |
| Operating cash flow (approximation) | €0.2m | €0.2m | -€0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.6m | ▲ 136% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.05m | -€0.02m | -€0.2m | -€0.07m | -€4.4m | -€0.09m | ▲ 97.9% |
| Change in cash | - | €0.4m | €0.05m | €0.006m | -€0.1m | -€0.1m | -€0.4m | €0.5m | - |
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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-08-2026 | 2026-00479812 | |
| 31-12-2024 | full format | 17-07-2025 | 2025-00278469 | |
| 31-12-2023 | full format | 06-06-2024 | 2024-00112018 | |
| 31-12-2022 | full format | 29-08-2023 | 2023-00366359 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20363690 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-63000430 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49600141 | |
| 31-12-2018 | micro format | 29-11-2019 | 2019-75200295 | |
| 31-12-2017 | micro format | 28-10-2018 | 2018-71400325 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59400248 |