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ActiveFinancials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 5 November 2026.
Annual accounts 2023 filed on 23-09-2024 PDF all 3 filings
Turnover
≈ €230,000
Estimated: probably between €150,000 and €400,000
Total assets
€235,559▲ 114%
2022 · €110,050
Net result
€8,626
2022 · -€7,177
Working capital
-€6,245▲ 84.3%
2022 · -€39,843
Multi-year overview
2021 to 2023, 3 financial yearsOperating result
€10,075
2023
20212023
Net result
€8,626
2023
middle half of the sector
20212023
Equity
€6,257
2023
lowest quarter of the sector
20212023
Total assets
€235,559
▲ 114%
2023
middle half of the sector
20212023
Debt
€229,301
▲ 104%
2023
20212023
Working capital
-€6,245
▲ 84.3%
2023
lowest quarter of the sector
20212023
Solvency
2.7%
▲ 4.8pp
2023
lowest quarter of the sector
20212023
Current ratio
0.97
▲ 0.37
2023
lowest quarter of the sector
20212023
Return on assets (ROA)
3.7%
▲ 10.2pp
2023
middle half of the sector
20212023
Staff (FTE)
0.2
▼ 71.4%
2023
20212023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023
Operating result€3,526--€6,875€10,075
Net result€2,308within the sector's middle half--€7,177below the sector's middle half€8,626within the sector's middle half
Equity€4,808below the sector's middle half--€2,368below the sector's middle half€6,257below the sector's middle half
Total assets€84,719within the sector's middle half-€110,050within the sector's middle half▲ 29.9%€235,559within the sector's middle half▲ 114%
Debt€79,911-€112,418▲ 40.7%€229,301▲ 104%
Working capital-€29,557below the sector's middle half--€39,843below the sector's middle half▼ 34.8%-€6,245below the sector's middle half▲ 84.3%
Solvency5.7%below the sector's middle half--2.2%below the sector's middle half▼ 7.8pp2.7%below the sector's middle half▲ 4.8pp
Current ratio0.63below the sector's middle half-0.60below the sector's middle half▼ 0.030.97below the sector's middle half▲ 0.37
Return on assets (ROA)2.7%within the sector's middle half--6.5%below the sector's middle half▼ 9.2pp3.7%within the sector's middle half▲ 10.2pp
Staff (FTE)0.2-0.7▲ 250%0.2▼ 71.4%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2023 is a profit of €10,075, after a loss of €6,875 in 2022. It is the highest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €235,559
Fixed assets
€40,643 ▼ 20.7%
Current assets
€194,916 ▲ 232%
Equity and liabilities €235,559
Equity
€6,257
Debt
€229,301
Debt's share of the balance-sheet total is 97.3%.
Key figures and ratios
EBITDA
€23,242▲
2022 · €3,953
Cash flow
€21,794▲
2022 · €3,650
Debt to equity
36.64
ROE
137.8%
Interest coverage
29.00▲
2022 · 10.99
Debt ≤ 1 year
€201,161▲
2022 · €98,611
Income taxes
€653
Staff costs
€12,272▼
2022 · €27,928
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 |
|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | - |
| full-time | - | 1 | - |
| in full-time equivalents | - | 1 | - |
| Average over the year, in full-time equivalents | 0.2 | 0.7 | 0.2 |
| On a permanent contract | - | 1 | - |
| Joined | 1 | 1 | 0 |
| Left | 1 | 0 | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €36,621 | €27,744 | €2,529 |
| Financial fixed assets | €5,670 | - | - |
| Depreciation and write-downs of the year | €7,926 | €10,827 | €13,168 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 4 entries · €6,670 awarded · €6,670 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €99 | €99 |
| 2023 | 2 | €5,950 | €5,950 |
| 2022 | 1 | €621 | €621 |
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €7,754 | €27,928 | €12,272 | ▼ 56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,926 | €10,827 | €13,168 | ▲ 21.6% |
| Other operating charges640/8 | €3,006 | €512 | €1,537 | ▲ 200% |
| Gross operating margin9900 | €22,211 | €32,393 | €37,052 | ▲ 14.4% |
| Operating profit (loss)9901 | €3,526 | -€6,875 | €10,075 | - |
| Financial income75/76B | - | €57 | €6 | ▼ 90.3% |
| Recurring financial income75 | - | €57 | €6 | ▼ 90.3% |
| Financial charges65/66B | €372 | €360 | €801 | ▲ 123% |
| Recurring financial charges65 | €372 | €360 | €801 | ▲ 123% |
| Profit (loss) for the period before taxes9903 | €3,154 | -€7,177 | €9,279 | - |
| Income taxes67/77 | €845 | - | €653 | - |
| Profit (loss) for the period9904 | €2,308 | -€7,177 | €8,626 | - |
| Profit (loss) for the period to be appropriated9905 | €2,308 | -€7,177 | €8,626 | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €84,719 | €110,050 | €235,559 | ▲ 114% |
| Fixed assets21/28 | €34,365 | €51,282 | €40,643 | ▼ 20.7% |
| Tangible fixed assets22/27 | €28,695 | €45,612 | €34,973 | ▼ 23.3% |
| Plant, machinery and equipment23 | €21,014 | €31,755 | €22,381 | ▼ 29.5% |
| Furniture and vehicles24 | €7,682 | €6,559 | €6,113 | ▼ 6.8% |
| Other tangible fixed assets26 | - | €7,298 | €6,479 | ▼ 11.2% |
| Financial fixed assets28 | €5,670 | €5,670 | €5,670 | = |
| Current assets29/58 | €50,354 | €58,768 | €194,916 | ▲ 232% |
| Stocks and contracts in progress3 | €13,679 | €34,873 | - | - |
| Stocks30/36 | €13,679 | €34,873 | - | - |
| Amounts receivable within one year40/41 | €36,321 | €21,088 | €12,602 | ▼ 40.2% |
| Trade receivables40 | €29,744 | €20,569 | €12,300 | ▼ 40.2% |
| Other amounts receivable41 | €6,577 | €519 | €302 | ▼ 41.8% |
| Cash at bank and in hand54/58 | €354 | €2,043 | €6,031 | ▲ 195% |
| Deferred charges and accrued income490/1 | - | €765 | €176,282 | ▲ 230× |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €84,719 | €110,050 | €235,559 | ▲ 114% |
| Equity10/15 | €4,808 | -€2,368 | €6,257 | - |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €2,308 | -€4,868 | €3,757 | - |
| Amounts payable17/49 | €79,911 | €112,418 | €229,301 | ▲ 104% |
| Amounts payable within one year42/48 | €79,911 | €98,611 | €201,161 | ▲ 104% |
| Trade debts44 | €32,698 | €31,086 | €193,663 | ▲ 523% |
| Suppliers440/4 | €32,698 | €31,086 | €193,663 | ▲ 523% |
| Advances received on contracts in progress46 | €20,587 | €23,587 | - | - |
| Taxes, remuneration and social security45 | €845 | €14,666 | €7,323 | ▼ 50.1% |
| Taxes450/3 | €845 | €2,173 | - | - |
| Remuneration and social security454/9 | - | €12,493 | €7,323 | ▼ 41.4% |
| Other amounts payable47/48 | €25,781 | €29,272 | €175 | ▼ 99.4% |
| Accrued charges and deferred income492/3 | - | €13,807 | €28,140 | ▲ 104% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,308 | -€7,177 | €8,626 | - |
| + Depreciation and write-downs630 | €7,926 | €10,827 | €13,168 | ▲ 21.6% |
| Operating cash flow (approximation) | €10,234 | €3,650 | €21,794 | ▲ 497% |
| Investment in fixed assets (approximation) | - | -€27,744 | -€2,529 | ▲ 90.9% |
| Change in cash | - | €1,688 | €3,988 | ▲ 136% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.