ISTART
InactiveInactive; last annual accounts for fiscal year 2024.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 30 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€35,974▲ 37.8%
2023 · €26,103
Total assets
€276,319▲ 20.4%
2023 · €229,432
Net result
€9,871
2023 · -€85,401
Working capital
-€68,257▲ 10.9%
2023 · -€76,619
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20232024
Operating result-€83,625-€16,253
Net result-€85,401-€9,871
Equity€26,103-€35,974▲ 37.8%
Total assets€229,432-€276,319▲ 20.4%
Debt€203,328-€240,345▲ 18.2%
Working capital-€76,619--€68,257▲ 10.9%
Staff (FTE)0.5-2.5▲ 400%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €16,253 after a loss of €83,625 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €276,319
Fixed assets
€104,231 ▲ 1.5%
Current assets
€172,088 ▲ 35.8%
Equity and liabilities €276,319
Equity
€35,974 ▲ 37.8%
Debt
€240,345 ▲ 18.2%
Debt's share of the balance-sheet total falls from 88.6% to 87.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45,381▲
2023 · -€58,989
Cash flow
€38,999▲
2023 · -€60,765
Current ratio
0.72▲
2023 · 0.62
Debt to equity
6.68▼
2023 · 7.79
ROE
27.4%▲
2023 · -327.2%
ROA
3.6%▲
2023 · -37.2%
Interest coverage
6.96▲
2023 · -34.26
Debt ≤ 1 year
€240,345▲
2023 · €203,328
Income taxes
€0▼
2023 · €62
Staff costs
€186,338▲
2023 · €37,118
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €37,118 | €186,338 | ▲ 402% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,636 | €29,128 | ▲ 18.2% |
| Other operating charges640/8 | €1,016 | €578 | ▼ 43.1% |
| Gross operating margin9900 | -€20,855 | €232,297 | ▲ 1,214% |
| Operating profit (loss)9901 | -€83,625 | €16,253 | ▲ 119% |
| Financial income75/76B | €8 | €135 | ▲ 1,574% |
| Recurring financial income75 | €8 | €135 | ▲ 1,574% |
| Financial charges65/66B | €1,722 | €6,518 | ▲ 279% |
| Recurring financial charges65 | €1,722 | €6,518 | ▲ 279% |
| Profit (loss) for the period before taxes9903 | -€85,339 | €9,871 | ▲ 112% |
| Income taxes67/77 | €62 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€85,401 | €9,871 | ▲ 112% |
| Profit (loss) for the period to be appropriated9905 | -€85,401 | €9,871 | ▲ 112% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €229,432 | €276,319 | ▲ 20.4% |
| Fixed assets21/28 | €102,723 | €104,231 | ▲ 1.5% |
| Intangible fixed assets21 | €102,629 | €104,138 | ▲ 1.5% |
| Financial fixed assets28 | €94 | €94 | = |
| Current assets29/58 | €126,709 | €172,088 | ▲ 35.8% |
| Amounts receivable within one year40/41 | €50,271 | €44,868 | ▼ 10.7% |
| Trade receivables40 | €41,226 | €41,699 | ▲ 1.1% |
| Other amounts receivable41 | €9,045 | €3,170 | ▼ 65.0% |
| Cash at bank and in hand54/58 | €76,134 | €102,219 | ▲ 34.3% |
| Deferred charges and accrued income490/1 | €304 | €25,000 | ▲ 8,119% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €229,432 | €276,319 | ▲ 20.4% |
| Equity10/15 | €26,103 | €35,974 | ▲ 37.8% |
| Contributions10/11 | €100,000 | €100,000 | = |
| Reserves13 | €0 | - | - |
| Distributable reserves133 | €0 | - | - |
| Profit (loss) carried forward14 | -€73,897 | -€64,026 | ▲ 13.4% |
| Amounts payable17/49 | €203,328 | €240,345 | ▲ 18.2% |
| Amounts payable within one year42/48 | €203,328 | €240,345 | ▲ 18.2% |
| Financial debts43 | €3,421 | €3,664 | ▲ 7.1% |
| Credit institutions430/8 | €3,421 | €3,664 | ▲ 7.1% |
| Trade debts44 | €192,474 | €184,150 | ▼ 4.3% |
| Suppliers440/4 | €192,474 | €184,150 | ▼ 4.3% |
| Taxes, remuneration and social security45 | €4,327 | €49,425 | ▲ 1,042% |
| Taxes450/3 | €62 | €18,526 | ▲ 29,728% |
| Remuneration and social security454/9 | €4,265 | €30,899 | ▲ 625% |
| Other amounts payable47/48 | €3,106 | €3,106 | = |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€85,401 | €9,871 | ▲ 112% |
| + Depreciation and write-downs630 | €24,636 | €29,128 | ▲ 18.2% |
| Operating cash flow (approximation) | -€60,765 | €38,999 | ▲ 164% |
| Investment in fixed assets (approximation) | - | -€30,636 | - |
| Change in cash | - | €26,085 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €9,871
Net result €9,871 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 ownerOwners 1
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 930 EUR awarded · 930 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | -25,000 EUR | 0 EUR |
| 2024 | 2 | 25,450 EUR | 450 EUR |
| 2022 | 1 | 480 EUR | 480 EUR |