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ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00483279.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 7 filings
Equity
-€23,139
2024 · €17,735
Net result
-€40,875▼ 392%
2024 · -€8,314
Total assets
€1.1m▲ 0.4%
2024 · €1.1m
Solvency
-2.1%▼ 3.8pp
2024 · 1.6%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€26,840
2025
20192025
Net result
-€40,875
▼ 392%
2025
lowest quarter of the sector
20192025
Equity
-€23,139
2025
lowest quarter of the sector
20192025
Total assets
€1.1m
▲ 0.4%
2025
highest quarter of the sector
20192025
Debt
€1.1m
▲ 4.3%
2025
20192025
Working capital
-€356,596
▼ 59.7%
2025
lowest quarter of the sector
20192025
Solvency
-2.1%
▼ 3.8pp
2025
lowest quarter of the sector
20192025
Current ratio
0.14
▼ 0.15
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-3.8%
▼ 3.0pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.02m--€0.01m-€0.004m▲ 61.6%€0.04m€0.02m▼ 35.2%€0.01m▼ 46.2%-€0.03m
Net result€0.001m--€0.02mbelow the sector's middle half-€0.01mbelow the sector's middle half▲ 29.4%€0.03mwithin the sector's middle half€0.01mwithin the sector's middle half▼ 60.4%-€0.008mbelow the sector's middle half-€0.04mbelow the sector's middle half▼ 392%
Equity€0.2m-€0.1mwithin the sector's middle half▼ 13.7%€0.1mwithin the sector's middle half▼ 11.2%€0.1mwithin the sector's middle half▲ 25.3%€0.03mbelow the sector's middle half▼ 82.0%€0.02mbelow the sector's middle half▼ 31.9%-€0.02mbelow the sector's middle half
Total assets€0.8m-€0.8mwithin the sector's middle half▼ 5.0%€0.7mwithin the sector's middle half▼ 2.4%€0.7mwithin the sector's middle half=€0.6mwithin the sector's middle half▼ 12.1%€1.1mabove the sector's middle half▲ 66.1%€1.1mabove the sector's middle half▲ 0.4%
Debt€0.6m-€0.6m▼ 3.0%€0.6m▼ 0.6%€0.6m▼ 4.7%€0.6m▲ 4.9%€1.1m▲ 70.2%€1.1m▲ 4.3%
Working capital€0.04m-€0.04mwithin the sector's middle half▼ 5.1%-€0.004mwithin the sector's middle half€0.02mwithin the sector's middle half-€0.1mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 129%-€0.4mbelow the sector's middle half▼ 59.7%
Solvency18.9%-17.2%below the sector's middle half▼ 1.7pp15.6%below the sector's middle half▼ 1.5pp19.6%below the sector's middle half▲ 4.0pp4.0%below the sector's middle half▼ 15.6pp1.6%below the sector's middle half▼ 2.4pp-2.1%below the sector's middle half▼ 3.8pp
Current ratio1.88-2.01within the sector's middle half▲ 0.130.95within the sector's middle half▼ 1.061.31within the sector's middle half▲ 0.360.29below the sector's middle half▼ 1.020.30below the sector's middle half▲ 0.010.14below the sector's middle half▼ 0.15
Return on assets (ROA)0.1%--2.7%below the sector's middle half▼ 2.8pp-2.0%below the sector's middle half▲ 0.8pp4.0%within the sector's middle half▲ 5.9pp1.8%within the sector's middle half▼ 2.2pp-0.8%below the sector's middle half▼ 2.6pp-3.8%below the sector's middle half▼ 3.0pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 a loss of €26,840, after a profit of €12,551 in 2024. It is the lowest 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
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.0m ▲ 3.9%
Current assets
€59,891 ▼ 36.0%
Equity and liabilities
Equity-€23,139
Debt€1.1m
Equity is negative. Debt (€1.1m) exceeds the balance-sheet total (€1.1m).
Key figures and ratios
Debt ≤ 1 year
€416,487▲
2024 · €316,879
Debt > 1 year
€688,504▼
2024 · €742,975
Income taxes
€0▼
2024 · €892
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 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €25,000 | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | - | €603,000 | €603,000 | €603,000 | €603,000 |
| Carrying value of the mortgaged assets | - | €642,123 | €609,526 | €576,930 | €576,930 |
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 | €24,904 | - | - | €407,025 | €73,673 |
| Depreciation and write-downs of the year | €32,597 | €32,597 | €32,597 | €32,597 | €35,667 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,274 | €30,106 | €32,597 | €32,597 | €32,597 | €32,597 | €35,667 | ▲ 9.4% |
| Other operating charges640/8 | - | - | €2,512 | €1,681 | €1,830 | €2,013 | €2,077 | ▲ 3.2% |
| Gross operating margin9900 | €58,400 | €22,160 | €31,434 | €70,306 | €57,765 | €47,161 | €10,904 | ▼ 76.9% |
| Operating profit (loss)9901 | €15,529 | -€9,577 | -€3,674 | €36,028 | €23,338 | €12,551 | -€26,840 | - |
| Financial income75/76B | - | - | - | €3,658 | €0 | €1,225 | €1,598 | ▲ 30.4% |
| Recurring financial income75 | - | - | - | €3,658 | €0 | €1,225 | €1,598 | ▲ 30.4% |
| Financial charges65/66B | - | - | €10,895 | €10,510 | €9,573 | €21,197 | €15,633 | ▼ 26.2% |
| Recurring financial charges65 | €14,891 | €11,051 | €10,895 | €10,510 | €9,573 | €21,197 | €15,633 | ▼ 26.2% |
| Profit (loss) for the period before taxes9903 | €637 | -€20,628 | -€14,569 | €29,176 | €13,765 | -€7,421 | -€40,875 | ▼ 451% |
| Income taxes67/77 | €130 | - | - | - | €2,202 | €892 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €507 | -€20,628 | -€14,569 | €29,176 | €11,563 | -€8,314 | -€40,875 | ▼ 392% |
| Profit (loss) for the period to be appropriated9905 | €507 | -€20,628 | -€14,569 | €29,176 | €11,563 | -€8,314 | -€40,875 | ▼ 392% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €1.1m | €1.1m | ▲ 0.4% |
| Fixed assets21/28 | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €1.0m | €1.0m | ▲ 3.9% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €1.0m | €1.0m | ▲ 3.9% |
| Land and buildings22 | - | - | €0.7m | €0.6m | €0.6m | €1.0m | €1.0m | ▲ 3.9% |
| Current assets29/58 | €0.08m | €0.07m | €0.06m | €0.1m | €0.04m | €0.09m | €0.06m | ▼ 36.0% |
| Amounts receivable within one year40/41 | €0.08m | €0.07m | €0.06m | €0.09m | €0.03m | €0.08m | €0.06m | ▼ 28.6% |
| Trade receivables40 | - | - | - | - | €0.007m | €156 | €0.03m | ▲ 181× |
| Other amounts receivable41 | - | - | €0.06m | €0.09m | €0.02m | €0.08m | €0.03m | ▼ 62.9% |
| Cash at bank and in hand54/58 | €0.005m | €0.004m | €0.005m | €0.004m | €0.005m | €0.01m | €0.001m | ▼ 88.3% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.003m | €0.003m | €0.002m | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €1.1m | €1.1m | ▲ 0.4% |
| Equity10/15 | €0.2m | €0.1m | €0.1m | €0.1m | €0.03m | €0.02m | -€0.02m | - |
| Contributions10/11 | €0.2m | - | €0.2m | €0.2m | €0.02m | €0.02m | €0.02m | = |
| Contributions outside capital11 | - | - | €0.2m | - | - | - | - | - |
| Other1109/19 | - | - | €0.2m | - | - | - | - | - |
| Reserves13 | €0.001m | €0.001m | €0.001m | €0.001m | €0.006m | €0 | - | - |
| Non-distributable reserves130/1 | - | - | €0.001m | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.001m | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.001m | €0.006m | €0 | - | - |
| Profit (loss) carried forward14 | - | -€0.02m | -€0.04m | -€0.006m | €0 | -€0.002m | -€0.04m | ▼ 1,805% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.1m | €1.1m | ▲ 4.3% |
| Amounts payable after more than one year17 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.7m | €0.7m | ▼ 7.3% |
| Financial debts170/4 | - | - | €0.6m | €0.5m | €0.5m | €0.7m | €0.7m | ▼ 7.3% |
| Amounts payable within one year42/48 | €0.04m | €0.04m | €0.07m | €0.07m | €0.1m | €0.3m | €0.4m | ▲ 31.4% |
| Current portion of amounts payable after more than one year42 | - | - | €0.03m | €0.04m | €0.03m | €0.05m | €0.04m | ▼ 21.4% |
| Trade debts44 | - | €0.001m | €0.03m | €0.03m | €0.03m | €0.004m | €0.07m | ▲ 20× |
| Suppliers440/4 | - | - | €0.03m | €0.03m | €0.03m | €0.004m | €0.07m | ▲ 20× |
| Advances received on contracts in progress46 | - | - | €0.006m | €0.005m | €0.004m | €0.009m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | €24 | €0 | €0.002m | €0.02m | €0.01m | ▼ 19.5% |
| Taxes450/3 | - | - | - | €0 | €0.002m | €0.007m | €0.01m | ▲ 68.7% |
| Remuneration and social security454/9 | - | - | €24 | - | - | €0.008m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €0.001m | €0.006m | €0.07m | €0.2m | €0.3m | ▲ 22.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €507 | -€20,628 | -€14,569 | €29,176 | €11,563 | -€8,314 | -€40,875 | ▼ 392% |
| + Depreciation and write-downs630 | €42,274 | €30,106 | €32,597 | €32,597 | €32,597 | €32,597 | €35,667 | ▲ 9.4% |
| Operating cash flow (approximation) | €42,781 | €9,478 | €18,028 | €61,773 | €44,159 | €24,283 | -€5,208 | - |
| Investment in fixed assets (approximation) | - | €0 | -€24,904 | €0 | €0 | -€407,025 | -€73,673 | ▲ 81.9% |
| Change in cash | - | -€783 | €525 | -€951 | €757 | €4,901 | -€8,528 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00483279 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00451505 | |
| 31-12-2023 | micro format | 08-04-2024 | 2024-00060916 | |
| 31-12-2022 | micro format | 27-04-2023 | 2023-00072967 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20384475 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-61900295 | |
| 31-12-2019 | micro format | 16-11-2020 | 2020-71000203 |