KALUGRE
InactiveSignals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€19,109
neutral · Latest accounts filed on time
The financial year that closed on 24-09-2025 was due by 24-04-2026 and was filed on 24-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
30 d late
2022
3 d early
2021
26 d early
2020
11 d early
2019
100 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 16 days before 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 2025, abbreviated schema
Equity
€1.3m▼ 1.4%
2024 · €1.3m
Total assets
€2.4m▼ 0.3%
2024 · €2.4m
Net result
-€19,109▲ 69.1%
2024 · -€61,939
Working capital
-€160,546▲ 1.6%
2024 · -€163,142
Trend over the years
In euros
In euros
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
Line20212022202320242025
Operating result-€16,562▼ 589%-€31,763▼ 91.8%-€7,552▲ 76.2%-€42,847▼ 467%-€8,128▲ 81.0%
Net result-€13,818-€29,674▼ 115%-€17,346▲ 41.5%-€61,939▼ 257%-€19,109▲ 69.1%
Equity€1.4m▲ 144%€1.4m▼ 2.0%€1.4m▼ 1.2%€1.3m▼ 4.4%€1.3m▼ 1.4%
Total assets€1.6m▲ 99.0%€1.5m▼ 0.9%€2.1m▲ 36.2%€2.4m▲ 13.4%€2.4m▼ 0.3%
Debt€8,605▼ 90.5%€26,353▲ 206%€603,563▲ 2,190%€950,229▲ 57.4%€964,356▲ 1.5%
Working capital€707▼ 99.7%-€20,323-€120,564▼ 493%-€163,142▼ 35.3%-€160,546▲ 1.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8,128 in 2025 against €42,847 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€1.8m ▼ 0.7%
Current assets
€620,552 ▲ 1.0%
Equity and liabilities €2.4m
Equity
€1.3m ▼ 1.4%
Provisions
€85,419 ▼ 1.8%
Debt
€964,356 ▲ 1.5%
Debt's share of the balance-sheet total rises from 40.0% to 40.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,551▲
2024 · -€17,488
Cash flow
-€6,430▲
2024 · -€36,581
Current ratio
0.79▲
2024 · 0.79
Debt to equity
0.73▲
2024 · 0.71
ROE
-1.4%▲
2024 · -4.6%
ROA
-0.8%▲
2024 · -2.6%
Interest coverage
0.19▲
2024 · -0.55
Debt ≤ 1 year
€781,098▲
2024 · €777,548
Debt > 1 year
€161,092▲
2024 · €159,972
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,486 | €10,758 | €15,624 | €25,359 | €12,679 | ▼ 50.0% |
| Other operating charges640/8 | €435 | €3,003 | €4,726 | €4,806 | €2,295 | ▼ 52.3% |
| Gross operating margin9900 | -€8,641 | -€18,003 | €12,798 | -€12,682 | €6,846 | ▲ 154% |
| Operating profit (loss)9901 | -€16,562 | -€31,763 | -€7,552 | -€42,847 | -€8,128 | ▲ 81.0% |
| Financial income75/76B | €670 | - | €101 | €9,568 | €10,948 | ▲ 14.4% |
| Recurring financial income75 | €670 | - | €101 | €9,568 | €10,948 | ▲ 14.4% |
| Financial charges65/66B | €23 | €24 | €12,899 | €31,765 | €23,480 | ▼ 26.1% |
| Recurring financial charges65 | €23 | €24 | €12,899 | €31,765 | €23,480 | ▼ 26.1% |
| Profit (loss) for the period before taxes9903 | -€15,916 | -€31,787 | -€20,350 | -€65,043 | -€20,661 | ▲ 68.2% |
| Transfer from deferred taxes780 | €2,051 | €2,114 | €3,004 | €3,104 | €1,552 | ▼ 50.0% |
| Income taxes67/77 | -€47 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€13,818 | -€29,674 | -€17,346 | -€61,939 | -€19,109 | ▲ 69.1% |
| Transfer from tax-exempt reserves789 | €6,152 | €6,341 | €9,010 | €9,312 | €4,656 | ▼ 50.0% |
| Profit (loss) for the period to be appropriated9905 | -€7,666 | -€23,332 | -€8,337 | -€52,627 | -€14,453 | ▲ 72.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.5m | €2.1m | €2.4m | €2.4m | ▼ 0.3% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.8m | €1.8m | €1.8m | ▼ 0.7% |
| Tangible fixed assets22/27 | €587,514 | €576,756 | €832,221 | €806,863 | €794,183 | ▼ 1.6% |
| Land and buildings22 | €587,514 | €576,756 | €793,452 | €773,551 | €763,600 | ▼ 1.3% |
| Plant, machinery and equipment23 | - | - | €24,122 | €21,807 | €20,649 | ▼ 5.3% |
| Furniture and vehicles24 | - | - | €14,648 | €11,506 | €9,935 | ▼ 13.7% |
| Financial fixed assets28 | €956,000 | €956,000 | €954,915 | €956,000 | €956,000 | = |
| Current assets29/58 | €9,311 | €6,030 | €308,510 | €614,406 | €620,552 | ▲ 1.0% |
| Amounts receivable after more than one year29 | - | - | €71,360 | €579,108 | €586,901 | ▲ 1.3% |
| Other amounts receivable291 | - | - | €71,360 | €579,108 | €586,901 | ▲ 1.3% |
| Amounts receivable within one year40/41 | - | - | €224,512 | €3,630 | €3,630 | = |
| Trade receivables40 | - | - | - | €3,630 | €3,630 | = |
| Other amounts receivable41 | - | - | €224,512 | - | - | - |
| Cash at bank and in hand54/58 | €8,642 | €5,360 | €12,639 | €22,099 | €19,073 | ▼ 13.7% |
| Deferred charges and accrued income490/1 | €670 | €670 | - | €9,568 | €10,948 | ▲ 14.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.5m | €2.1m | €2.4m | €2.4m | ▼ 0.3% |
| Equity10/15 | €1.4m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 1.4% |
| Contributions10/11 | €898,282 | €898,282 | €898,282 | €898,282 | €898,282 | = |
| Reserves13 | €550,746 | €521,072 | €503,726 | €441,787 | €422,678 | ▼ 4.3% |
| Tax-exempt reserves132 | €285,578 | €279,236 | €270,227 | €260,915 | €256,259 | ▼ 1.8% |
| Distributable reserves133 | €265,168 | €241,836 | €233,500 | €180,872 | €166,419 | ▼ 8.0% |
| Provisions and deferred taxes16 | €95,193 | €93,079 | €90,075 | €86,971 | €85,419 | ▼ 1.8% |
| Deferred taxes168 | €95,193 | €93,079 | €90,075 | €86,971 | €85,419 | ▼ 1.8% |
| Amounts payable17/49 | €8,605 | €26,353 | €603,563 | €950,229 | €964,356 | ▲ 1.5% |
| Amounts payable after more than one year17 | - | - | €174,489 | €159,972 | €161,092 | ▲ 0.7% |
| Financial debts170/4 | - | - | €174,489 | €156,682 | €156,682 | = |
| Other amounts payable178/9 | - | - | - | €3,290 | €4,410 | ▲ 34.0% |
| Amounts payable within one year42/48 | €8,605 | €26,353 | €429,074 | €777,548 | €781,098 | ▲ 0.5% |
| Current portion of amounts payable after more than one year42 | - | - | €17,163 | €204,262 | €193,986 | ▼ 5.0% |
| Financial debts43 | - | - | €260,000 | - | - | - |
| Credit institutions430/8 | - | - | €260,000 | - | - | - |
| Trade debts44 | €1,445 | €19,946 | €4,626 | €1,520 | €6,178 | ▲ 306% |
| Suppliers440/4 | €1,445 | €19,946 | €4,626 | €1,520 | €6,178 | ▲ 306% |
| Taxes, remuneration and social security45 | €753 | - | - | - | - | - |
| Taxes450/3 | €753 | - | - | - | - | - |
| Other amounts payable47/48 | €6,407 | €6,407 | €147,285 | €571,766 | €580,934 | ▲ 1.6% |
| Accrued charges and deferred income492/3 | - | - | - | €12,709 | €22,166 | ▲ 74.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,818 | -€29,674 | -€17,346 | -€61,939 | -€19,109 | ▲ 69.1% |
| + Depreciation and write-downs630 | €7,486 | €10,758 | €15,624 | €25,359 | €12,679 | ▼ 50.0% |
| Operating cash flow (approximation) | -€6,332 | -€18,916 | -€1,722 | -€36,581 | -€6,430 | ▲ 82.4% |
| Investment in fixed assets (approximation) | - | €0 | -€270,004 | -€1,085 | €0 | ▲ 100% |
| Change in cash | - | -€3,282 | €7,279 | €9,461 | -€3,027 | ▼ 132% |
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
2026
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€61,939
Net result drops to -€61,939, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1mEq €1.4m ▲144%
Equity rises from €592,846 to €1.4m.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €314,450 ▲2,272%
Operating result €428,318, net result €314,450, both a record.
31-12
Financial
Liquidity triplescurrent ratio 6.37
Current ratio from 2.23 to 6.37.
31-12
Financial
Equity above €500,000Eq €590,574 ▲66.4%
2 profitable years in a row build equity to €590,574.
Show earlier events
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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 owner · 1 holdingChain of control
- mediAVentures Remote-OR
- APW-IMMO
- KALUGRE
Highest known parent: mediAVentures Remote-OR. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
- PROJACTIVESsubsidiaryEquity €1.2mResult -€1,10677.13%
According to the annual accounts to 24-09-2025 of KALUGRE and those 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.