KEY CHALLENGE
Annual accounts 2025
micro format, filed on 11-05-2026, 81 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €310,000. Estimated: probably between €250,000 and €470,000.
Balance sheet
balance sheet total €118,404 on 31-12-2025in euro
in euro
Position in the sector
1.7%
Higher than 22% of 19,803 companies in 2025.
0.96
Higher than 44% of 18,977 companies in 2025.
114.3%
Higher than 95% of 19,446 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
118,404 | 96,519 | 57,420 | 98,509 | 113,366 | 74,381 | |
21/28 |
6,499 | 7,600 | 9,781 | 12,044 | 373 | 662 | |
22/27 |
6,499 | 7,600 | 9,781 | 12,044 | 373 | 662 | |
24 |
0 | 115 | 1,308 | 2,585 | 373 | 662 | |
26 |
6,499 | 7,486 | 8,473 | 9,460 | - | - | |
29/58 |
111,905 | 88,918 | 47,639 | 86,465 | 112,993 | 73,719 | |
40/41 |
25,391 | 2,960 | 5,881 | 288 | 5,912 | 3,778 | |
40 |
24,142 | 1,948 | 5,881 | 124 | 2,200 | 66 | |
41 |
1,249 | 1,012 | - | 164 | 3,712 | 3,712 | |
50/53 |
40,000 | - | - | - | - | - | |
54/58 |
43,942 | 82,229 | 36,751 | 79,347 | 105,491 | 68,588 | |
490/1 |
2,572 | 3,729 | 5,008 | 6,830 | 1,590 | 1,353 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
118,404 | 96,519 | 57,420 | 98,509 | 113,366 | 74,381 | |
10/15 |
2,000 | 26,721 | 25,343 | 64,793 | 76,489 | 63,852 | |
10/11 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
14 |
- | 24,721 | 23,343 | 62,793 | 74,489 | 61,852 | |
17/49 |
116,404 | 69,798 | 32,077 | 33,716 | 36,877 | 10,529 | |
42/48 |
116,404 | 69,773 | 32,077 | 33,716 | 36,877 | 10,529 | |
43 |
890 | - | 570 | 511 | 809 | - | |
430/8 |
890 | - | 570 | 511 | 809 | - | |
44 |
1,963 | 1,990 | 118 | 2,206 | 117 | 908 | |
440/4 |
1,963 | 1,990 | 118 | 2,206 | 117 | 908 | |
45 |
23,824 | 7,972 | 11,456 | 17,486 | 18,946 | 2,156 | |
450/3 |
23,824 | 7,972 | 11,456 | 17,486 | 18,946 | 2,156 | |
47/48 |
89,726 | 59,811 | 19,933 | 13,513 | 17,005 | 7,466 | |
492/3 |
- | 25 | - | - | - | - | |
| Income statement | |||||||
76A |
- | - | - | 6,967 | - | - | |
9900 |
177,236 | 54,313 | -34,052 | -6,895 | 19,906 | 79,276 | |
630 |
1,102 | 2,180 | 2,264 | 1,779 | 290 | 207 | |
640/8 |
935 | 873 | 738 | 1,049 | 775 | 511 | |
9901 |
175,199 | 51,260 | -37,054 | -9,722 | 18,842 | 78,559 | |
75/76B |
978 | 221 | 127 | - | - | - | |
75 |
978 | 221 | 127 | - | - | - | |
65/66B |
760 | 2,205 | 1,548 | 1,041 | 807 | 418 | |
65 |
760 | 2,205 | 1,548 | 1,041 | 807 | 418 | |
9903 |
175,417 | 49,275 | -38,475 | -10,763 | 18,035 | 78,140 | |
67/77 |
40,056 | 1,555 | 143 | 133 | 4,598 | 16,288 | |
9904 |
135,361 | 47,721 | -38,618 | -10,896 | 13,437 | 61,852 | |
9905 |
135,361 | 47,721 | -38,618 | -10,896 | 13,437 | 61,852 | |
| Appropriation of the result | |||||||
9906 |
160,082 | 71,064 | 24,176 | 63,593 | 75,289 | 61,852 | |
14P |
24,721 | 23,343 | 62,793 | 74,489 | 61,852 | - | |
694/7 |
160,082 | 46,343 | 833 | 800 | 800 | - | |
694 |
160,082 | 46,343 | 833 | 800 | 800 | - | |
| Document | |||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 11-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-05-2026 | 2026-00108756 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00211087 | |
| 31-12-2023 | micro format | 17-05-2024 | 2024-00089728 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00303429 | |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20074514 | |
| 31-12-2020 | micro format | 18-06-2021 | 2021-21800066 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 176,301 | 53,440 | -34,790 | -7,943 | 19,132 | 78,765 | ||
| 136,463 | 49,901 | -36,354 | -9,116 | 13,727 | 62,058 | ||
| 0 | 0 | 0 | 13,451 | 0 | 869 | ||
| -38,287 | 45,478 | -42,596 | -26,144 | 36,903 | - | ||
| -4,499 | 19,145 | 15,562 | 52,749 | 76,116 | 63,189 | ||
| 1.7% | 27.7% | 44.1% | 65.8% | 67.5% | 85.8% | ||
| 0.96 | 1.27 | 1.49 | 2.56 | 3.06 | 7.00 | ||
| 58.20 | 2.61 | 1.27 | 0.52 | 0.48 | 0.16 | ||
| - | 178.6% | -152.4% | -16.8% | 17.6% | 96.9% | ||
| 114.3% | 49.4% | -67.3% | -11.1% | 11.9% | 83.2% | ||
| over 100 | 24.23 | -22.47 | -7.63 | 23.72 | - |
A ratio outside any meaningful range has been withheld (balance sheet total €118,404, equity €2,000).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €13,451 | - |
| €1,102 | €2,180 | €2,264 | €1,779 | €290 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on KEY CHALLENGE
The operating result for 2025 is over 3.4 times that of 2024 and the highest since 2020. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 72.3% to 98.3%. Equity is lower and debt is higher.