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ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 17 filings
Turnover
≈ €990,000
Estimated: probably between €760,000 and €1.5m
Total assets
€1.6m▲ 1.8%
2024 · €1.6m
Net result
€119,957▼ 24.2%
2024 · €158,161
Working capital
-€279,501▼ 50.9%
2024 · -€185,251
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€172,247
▼ 19.3%
2025
20182025
Net result
€119,957
▼ 24.2%
2025
highest quarter of the sector
20182025
Equity
€685,784
▲ 21.2%
2025
highest quarter of the sector
20182025
Total assets
€1.6m
▲ 1.8%
2025
highest quarter of the sector
20182025
Debt
€895,622
▼ 9.4%
2025
20182025
Working capital
-€279,501
▼ 50.9%
2025
lowest quarter of the sector
20182025
Solvency
43.4%
▲ 7.0pp
2025
middle half of the sector
20182025
Current ratio
0.29
▼ 0.04
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
7.6%
▼ 2.6pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.07m▲ 133%€0.01m▼ 81.8%€0.1m▲ 931%€0.5m▲ 260%€0.1m▼ 67.2%€0.2m▲ 44.5%€0.2m▼ 19.3%
Net result€0.02m-€0.06m▲ 195%€0.006mwithin the sector's middle half▼ 89.8%€0.07mabove the sector's middle half▲ 12×€0.4mabove the sector's middle half▲ 394%€0.1mwithin the sector's middle half▼ 71.5%€0.2mabove the sector's middle half▲ 57.6%€0.1mabove the sector's middle half▼ 24.2%
Equity€0.02m-€0.05m▲ 146%€0.07mwithin the sector's middle half▲ 47.0%€0.1mabove the sector's middle half▲ 96.2%€0.4mwithin the sector's middle half▲ 159%€0.4mwithin the sector's middle half▲ 18.7%€0.6mabove the sector's middle half▲ 26.4%€0.7mabove the sector's middle half▲ 21.2%
Total assets€0.6m-€0.6m▼ 2.0%€0.6mabove the sector's middle half▲ 3.8%€1.8mabove the sector's middle half▲ 182%€1.6mwithin the sector's middle half▼ 12.9%€1.6mwithin the sector's middle half▲ 0.9%€1.6mabove the sector's middle half▼ 2.4%€1.6mabove the sector's middle half▲ 1.8%
Debt€0.6m-€0.6m▼ 6.9%€0.6m▼ 0.1%€1.7m▲ 193%€1.2m▼ 27.9%€1.1m▼ 4.7%€1.0m▼ 13.6%€0.9m▼ 9.4%
Working capital€0.02m-€0.03m▲ 93.8%€0.08mwithin the sector's middle half▲ 132%-€0.3mbelow the sector's middle half-€0.2mbelow the sector's middle half▲ 32.7%-€0.2mbelow the sector's middle half▲ 7.4%-€0.2mbelow the sector's middle half▼ 6.7%-€0.3mbelow the sector's middle half▼ 50.9%
Solvency3.2%-8.1%▲ 4.9pp11.5%within the sector's middle half▲ 3.4pp8.0%within the sector's middle half▼ 3.5pp23.9%within the sector's middle half▲ 15.9pp28.1%within the sector's middle half▲ 4.2pp36.4%within the sector's middle half▲ 8.3pp43.4%within the sector's middle half▲ 7.0pp
Current ratio1.13-1.27▲ 0.141.70within the sector's middle half▲ 0.430.30below the sector's middle half▼ 1.400.38below the sector's middle half▲ 0.080.42below the sector's middle half▲ 0.050.33below the sector's middle half▼ 0.090.29below the sector's middle half▼ 0.04
Return on assets (ROA)3.2%-9.6%▲ 6.4pp0.9%within the sector's middle half▼ 8.7pp3.9%within the sector's middle half▲ 3.0pp22.3%above the sector's middle half▲ 18.4pp6.3%within the sector's middle half▼ 16.0pp10.2%within the sector's middle half▲ 3.9pp7.6%within the sector's middle half▼ 2.6pp
Staff (FTE)0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 19% lower than in 2024.
Large changes and their cause
- 2023 Net result -71% on 2022. The 2022 profit included a one-off income of €221,179.
- 2022 Net result +394% on 2021. The 2022 profit included a one-off income of €221,179.
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 €1.6m
Fixed assets
€1.5m ▲ 0.5%
Current assets
€111,480 ▲ 23.0%
Equity and liabilities €1.6m
Equity
€685,784 ▲ 21.2%
Debt
€895,622 ▼ 9.4%
Debt's share of the balance-sheet total falls from 63.6% to 56.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€173,331▼
2024 · €214,659
Cash flow
€121,041▼
2024 · €159,391
Debt to equity
1.31▼
2024 · 1.75
ROE
17.5%▼
2024 · 28.0%
Interest coverage
12.46▼
2024 · 13.53
Debt ≤ 1 year
€390,981▲
2024 · €275,877
Debt > 1 year
€504,641▼
2024 · €711,942
Income taxes
€40,137▲
2024 · €39,731
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €825,511 | - | - |
| Mortgages, amount registered | €25,000 | - | - | - | - |
| Mortgage mandates | €510,000 | - | - | - | - |
| Carrying value of the mortgaged assets | €425,905 | - | - | - | - |
| Pledge on other assets, amount secured | €906,250 | €1.5m | €1.5m | €1.5m | €1.5m |
| Carrying value of the other pledged assets | €1.3m | €1.5m | €1.5m | €1.5m | €1.5m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €7,790 |
| Intangible fixed assets | €2,940 | - | - | - | - |
| Financial fixed assets | €1.3m | €202,430 | €2,500 | €2,196 | - |
| Depreciation and write-downs of the year | €20,713 | €2,786 | €2,561 | €1,229 | €1,084 |
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 | - | - | - | €352 | €221,179 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,535 | €18,425 | €18,935 | €20,713 | €2,786 | €2,561 | €1,229 | €1,084 | ▼ 11.8% |
| Other operating charges640/8 | - | - | - | €1,510 | €3,842 | €622 | €1,415 | €1,933 | ▲ 36.6% |
| Gross operating margin9900 | €57,535 | €93,774 | €42,260 | €147,453 | €457,015 | €150,839 | €216,074 | €175,264 | ▼ 18.9% |
| Operating profit (loss)9901 | €28,611 | €66,797 | €12,146 | €125,230 | €450,387 | €147,655 | €213,429 | €172,247 | ▼ 19.3% |
| Financial income75/76B | - | - | - | €1,162 | €175 | €1,378 | €328 | €1,762 | ▲ 437% |
| Recurring financial income75 | €861 | €286 | €9 | €1,162 | €175 | €1,378 | €328 | €1,762 | ▲ 437% |
| Financial charges65/66B | - | - | - | €29,708 | €20,833 | €14,859 | €15,865 | €13,914 | ▼ 12.3% |
| Recurring financial charges65 | €9,249 | €7,414 | €5,570 | €29,708 | €20,833 | €14,859 | €15,865 | €13,914 | ▼ 12.3% |
| Profit (loss) for the period before taxes9903 | €20,223 | €59,669 | €6,584 | €96,685 | €429,728 | €134,173 | €197,892 | €160,094 | ▼ 19.1% |
| Income taxes67/77 | - | - | €502 | €25,387 | €77,866 | €33,802 | €39,731 | €40,137 | ▲ 1.0% |
| Profit (loss) for the period9904 | €20,223 | €59,669 | €6,082 | €71,298 | €351,862 | €100,371 | €158,161 | €119,957 | ▼ 24.2% |
| Profit (loss) for the period to be appropriated9905 | €20,223 | €59,669 | €6,082 | €71,298 | €351,862 | €100,371 | €158,161 | €119,957 | ▼ 24.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.6m | €0.6m | €0.6m | €1.8m | €1.6m | €1.6m | €1.6m | €1.6m | ▲ 1.8% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.5m | €1.7m | €1.5m | €1.5m | €1.5m | €1.5m | ▲ 0.5% |
| Intangible fixed assets21 | €0.001m | €390 | €110 | €0.002m | €0.001m | €188 | €0 | - | - |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.5m | €0.4m | €0.006m | €0.005m | €0.004m | €0.01m | ▲ 174% |
| Land and buildings22 | - | - | - | €0.4m | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.002m | €0.001m | €315 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0.005m | €0.004m | €0.003m | €0.003m | €0.01m | ▲ 247% |
| Other tangible fixed assets26 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 17.4% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.005m | €1.3m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Current assets29/58 | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | ▲ 23.0% |
| Stocks and contracts in progress3 | - | - | €0.009m | €0.004m | €0 | - | - | - | - |
| Stocks30/36 | - | - | - | €0.004m | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.06m | €0.09m | €0.06m | €0.07m | €0.07m | €0.09m | ▲ 33.8% |
| Trade receivables40 | - | - | - | €0.07m | €0.06m | €0.05m | €0.06m | €0.09m | ▲ 49.5% |
| Other amounts receivable41 | - | - | - | €0.01m | €0 | €0.01m | €0.007m | €269 | ▼ 96.2% |
| Cash at bank and in hand54/58 | €0.02m | €0.02m | €0.1m | €0.03m | €0.05m | €0.06m | €0.02m | €0.02m | ▼ 2.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €0.001m | €0 | €0.001m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.6m | €0.6m | €0.6m | €1.8m | €1.6m | €1.6m | €1.6m | €1.6m | ▲ 1.8% |
| Equity10/15 | €0.02m | €0.05m | €0.07m | €0.1m | €0.4m | €0.4m | €0.6m | €0.7m | ▲ 21.2% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €0.01m | €0.04m | €0.04m | €0.1m | €0.3m | €0.4m | €0.5m | €0.7m | ▲ 22.4% |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.1m | €0.3m | €0.4m | €0.5m | €0.7m | ▲ 22.4% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.6m | €0.6m | €0.6m | €1.7m | €1.2m | €1.1m | €1.0m | €0.9m | ▼ 9.4% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.4m | €1.3m | €0.9m | €0.8m | €0.7m | €0.5m | ▼ 29.1% |
| Financial debts170/4 | - | - | - | €1.1m | €0.8m | €0.7m | €0.6m | €0.4m | ▼ 36.9% |
| Other amounts payable178/9 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 41.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 57.1% |
| Financial debts43 | - | - | - | €0.2m | €0 | €0.01m | €0.01m | €0.01m | ▼ 0.5% |
| Credit institutions430/8 | - | - | - | €0.2m | €0 | €0.01m | €0.01m | €0.01m | ▼ 0.5% |
| Trade debts44 | €0.1m | €0.06m | €0.07m | €0.04m | €0.04m | €0.1m | €0.08m | €0.1m | ▲ 54.5% |
| Suppliers440/4 | - | - | - | €0.04m | €0.04m | €0.1m | €0.08m | €0.1m | ▲ 54.5% |
| Taxes, remuneration and social security45 | - | - | - | €0 | €0.005m | €0.004m | €0.001m | €0.04m | ▲ 25× |
| Taxes450/3 | - | - | - | €0 | €0.005m | €0.004m | €0.001m | €0.04m | ▲ 25× |
| Other amounts payable47/48 | - | - | - | €0 | €0.1m | €0.03m | €0.05m | €0.006m | ▼ 87.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | €200 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.06m | €0.006m | €0.07m | €0.4m | €0.1m | €0.2m | €0.1m | ▼ 24.2% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.003m | €0.003m | €0.001m | €0.001m | ▼ 11.8% |
| Operating cash flow (approximation) | €0.04m | €0.08m | €0.03m | €0.09m | €0.4m | €0.1m | €0.2m | €0.1m | ▼ 24.1% |
| Investment in fixed assets (approximation) | - | €16 | -€0.01m | -€1.3m | €0.2m | -€0.003m | €0.001m | -€0.008m | - |
| Change in cash | - | -€0.009m | €0.1m | -€0.09m | €0.03m | €0.007m | -€0.04m | -€0.001m | ▲ 98.5% |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-06-2026 | 2026-00167786 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00323493 | |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00151818 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00218098 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20112058 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43400355 | |
| 31-12-2019 | abbreviated format | 24-07-2020 | 2020-33600467 | |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-41600326 | |
| 31-12-2017 | abbreviated format | 14-06-2018 | 2018-18700289 | |
| 31-12-2016 | abbreviated format | 23-06-2017 | 2017-20300507 |