Summary
INTERSTATE BELGIUM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €359,843 and a net result of €15,094, of which €209,084 non-recurring income. Equity is growing by about 23% per year across the filed financial years. Its solvency ranks better than 52% of 6,680 sector peers (NACE 64, financial year 2025). The company has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€359,843▲ 4.4%
2024 · €344,750
Net result
€15,094
2024 · -€140,220
Total assets
€674,396▼ 31.2%
2024 · €980,499
Solvency
53.4%▲ 18.2pp
2024 · 35.2%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €37,397 after a loss of €97,798 in 2024, the highest 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€0.04m
2025
Net result€0.02m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.7m
2025
Equity€0.4m
2025
Debt€0.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.07m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency53.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.24
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.002m-€0.008m▲ 364%-€0.02m€0.006m€0.02m▲ 169%€0.03m▲ 61.1%-€0.1m€0.04m
Net result€0.001m-€0.003m▲ 273%-€0.03mbelow the sector's middle half-€0.02mbelow the sector's middle half▲ 35.2%€0.008mwithin the sector's middle half-€0.02mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 605%€0.02mwithin the sector's middle half
Equity€0.03m-€0.03m▲ 10.8%€0.2mwithin the sector's middle half▲ 620%€0.2mwithin the sector's middle half▼ 8.5%€0.2mwithin the sector's middle half▲ 4.0%€0.2mwithin the sector's middle half▼ 9.7%€0.3mwithin the sector's middle half▲ 86.4%€0.4mwithin the sector's middle half▲ 4.4%
Total assets€0.2m-€0.8m▲ 285%€0.8mwithin the sector's middle half▼ 1.1%€1.0mwithin the sector's middle half▲ 23.0%€1.2mwithin the sector's middle half▲ 22.8%€0.7mwithin the sector's middle half▼ 39.2%€1.0mwithin the sector's middle half▲ 31.0%€0.7mwithin the sector's middle half▼ 31.2%
Debt€0.2m-€0.8m▲ 325%€0.6m▼ 24.5%€0.8m▲ 34.3%€1.0m▲ 27.5%€0.6m▼ 45.1%€0.6m▲ 12.8%€0.3m▼ 50.5%
Working capital-€0.02m--€0.2m▼ 986%-€0.02mwithin the sector's middle half▲ 91.6%-€0.01mwithin the sector's middle half▲ 23.9%€0.02mwithin the sector's middle half€0.02mwithin the sector's middle half▲ 18.8%-€0.04mwithin the sector's middle half€0.07mwithin the sector's middle half
Solvency12.6%-3.6%▼ 9.0pp26.4%within the sector's middle half▲ 22.8pp19.7%below the sector's middle half▼ 6.8pp16.6%below the sector's middle half▼ 3.0pp24.7%below the sector's middle half▲ 8.1pp35.2%within the sector's middle half▲ 10.4pp53.4%within the sector's middle half▲ 18.2pp
Current ratio0.89-0.71▼ 0.170.97within the sector's middle half▲ 0.250.98within the sector's middle half▲ 0.011.01within the sector's middle half▲ 0.031.03within the sector's middle half▲ 0.020.93within the sector's middle half▼ 0.101.24within the sector's middle half▲ 0.31
Return on assets (ROA)0.4%-0.4%=-3.5%below the sector's middle half▼ 3.8pp-1.8%below the sector's middle half▲ 1.6pp0.6%within the sector's middle half▲ 2.5pp-2.7%below the sector's middle half▼ 3.3pp-14.3%below the sector's middle half▼ 11.6pp2.2%within the sector's middle half▲ 16.5pp
Staff (FTE)1-1=0.3below the sector's middle half▼ 70.0%0below the sector's middle half▼ 100%0.3within the sector's middle half1within the sector's middle half▲ 233%1.7above the sector's middle half▲ 70.0%1within the sector's middle half▼ 41.2%
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin 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 €674,396
Fixed assets
€341,172 ▼ 12.2%
Current assets
€333,224 ▼ 43.7%
Equity and liabilities €674,396
Equity
€359,843 ▲ 4.4%
Debt
€314,553 ▼ 50.5%
Debt's share of the balance-sheet total falls from 64.8% to 46.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
4.2%▲
2024 · -40.7%
Debt ≤ 1 year
€267,938▼
2024 · €635,750
Income taxes
€430▼
2024 · €699
Staff costs
€189,359▼
2024 · €276,006
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €209,084 | - |
| Remuneration, social security and pensions62 | - | - | - | -€1,312 | €38,730 | €154,268 | €276,006 | €189,359 | ▼ 31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €458 | €4,346 | €22,830 | €22,851 | €22,978 | €22,720 | €16,603 | €39,399 | ▲ 137% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €14,127 | €50,571 | €108,261 | €127,488 | -€300,324 | - |
| Other operating charges640/8 | - | - | - | €1,044 | €68,214 | €53,093 | €67,852 | €73,644 | ▲ 8.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €26,991 | €150,955 | €7,983 | ▼ 94.7% |
| Gross operating margin9900 | €488,354 | €603,632 | €725,319 | €42,947 | €197,245 | €392,312 | €541,105 | €47,458 | ▼ 91.2% |
| Operating profit (loss)9901 | €1,658 | €7,700 | -€18,865 | €6,238 | €16,751 | €26,979 | -€97,798 | €37,397 | - |
| Financial income75/76B | - | - | - | €0 | €5,225 | €0 | - | €1,211 | - |
| Recurring financial income75 | - | - | €6,268 | €0 | €5,225 | €0 | - | €1,211 | - |
| Financial charges65/66B | - | - | - | €24,537 | €3,109 | €10,971 | €41,723 | €23,085 | ▼ 44.7% |
| Recurring financial charges65 | €872 | €4,773 | €3,463 | €24,537 | €3,109 | €10,971 | €41,723 | €23,085 | ▼ 44.7% |
| Non-recurring financial charges66B | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €786 | €2,927 | -€28,245 | -€18,300 | €18,867 | €16,009 | -€139,521 | €15,524 | - |
| Income taxes67/77 | - | - | - | - | €11,000 | €35,897 | €699 | €430 | ▼ 38.5% |
| Profit (loss) for the period9904 | €786 | €2,927 | -€28,245 | -€18,300 | €7,867 | -€19,889 | -€140,220 | €15,094 | - |
| Profit (loss) for the period to be appropriated9905 | €786 | €2,927 | -€28,245 | -€18,300 | €7,867 | -€19,889 | -€140,220 | €15,094 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.8m | €0.8m | €1.0m | €1.2m | €0.7m | €1.0m | €0.7m | ▼ 31.2% |
| Fixed assets21/28 | €0.05m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.3m | ▼ 12.2% |
| Intangible fixed assets21 | €0.05m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.3m | ▼ 12.1% |
| Tangible fixed assets22/27 | - | - | - | - | €0.001m | €0.001m | €252 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.001m | €252 | €0 | ▼ 100% |
| Current assets29/58 | €0.2m | €0.6m | €0.6m | €0.8m | €1.0m | €0.6m | €0.6m | €0.3m | ▼ 43.7% |
| Amounts receivable within one year40/41 | €0.2m | €0.5m | €0.6m | €0.8m | €0.9m | €0.5m | €0.6m | €0.1m | ▼ 79.2% |
| Trade receivables40 | - | - | - | €0.1m | €0.3m | €0.4m | €0.5m | €0.08m | ▼ 84.0% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.6m | €0.1m | €0.07m | €0.04m | ▼ 43.5% |
| Cash at bank and in hand54/58 | €0.02m | €0.1m | €0.02m | €0.03m | €0.1m | €0.04m | €0.007m | €0.2m | ▲ 31× |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.001m | €0 | €0.001m | €0.001m | ▼ 15.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.8m | €0.8m | €1.0m | €1.2m | €0.7m | €1.0m | €0.7m | ▼ 31.2% |
| Equity10/15 | €0.03m | €0.03m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | ▲ 4.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.2m | €0.2m | €0.2m | €0.5m | €0.5m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.007m | €0.009m | -€0.02m | -€0.04m | -€0.03m | -€0.05m | -€0.2m | -€0.2m | ▲ 8.0% |
| Amounts payable17/49 | €0.2m | €0.8m | €0.6m | €0.8m | €1.0m | €0.6m | €0.6m | €0.3m | ▼ 50.5% |
| Amounts payable within one year42/48 | €0.2m | €0.8m | €0.6m | €0.8m | €1.0m | €0.6m | €0.6m | €0.3m | ▼ 57.9% |
| Trade debts44 | €0.1m | €0.4m | €0 | €0.001m | €0.003m | €0.007m | €0.001m | €0.02m | ▲ 29× |
| Suppliers440/4 | - | - | - | €0.001m | €0.003m | €0.007m | €0.001m | €0.02m | ▲ 29× |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.02m | €0.07m | €0.03m | €0.05m | ▲ 95.4% |
| Taxes450/3 | - | - | - | €0.1m | €0.02m | €0.05m | €0 | €0.02m | - |
| Remuneration and social security454/9 | - | - | - | - | €0.005m | €0.03m | €0.03m | €0.03m | ▲ 32.8% |
| Other amounts payable47/48 | - | - | - | €0.7m | €1.0m | €0.5m | €0.6m | €0.2m | ▼ 67.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0.05m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €786 | €2,927 | -€28,245 | -€18,300 | €7,867 | -€19,889 | -€140,220 | €15,094 | - |
| + Depreciation and write-downs630 | €458 | €4,346 | €22,830 | €22,851 | €22,978 | €22,720 | €16,603 | €39,399 | ▲ 137% |
| Operating cash flow (approximation) | €1,244 | €7,273 | -€5,415 | €4,551 | €30,846 | €2,831 | -€123,617 | €54,493 | - |
| Investment in fixed assets (approximation) | - | -€213,625 | €0 | €0 | -€1,293 | €0 | -€238,061 | €7,983 | - |
| Change in cash | - | €85,015 | -€81,188 | €12,786 | €102,279 | -€95,821 | -€31,324 | €204,143 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-06-2026 | 2026-00206810 |
| 31-12-2024 | abbreviated format | 28-07-2025 | 2025-00324141 |
| 31-12-2023 | abbreviated format | 19-07-2024 | 2024-00269525 |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00304726 |
| 31-12-2021 | abbreviated format | 04-07-2022 | 2022-20140667 |
| 31-12-2020 | abbreviated format | 06-07-2021 | 2021-31300185 |
| 31-12-2019 | micro format | 16-07-2020 | 2020-31100300 |
| 31-12-2018 | abbreviated format | 19-06-2019 | 2019-20100197 |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-24700004 |
| 31-12-2016 | abbreviated format | 05-07-2017 | 2017-28800117 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,128. 13,963 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.