M-CUBE
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, 2026-00506121.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 8 filings
Turnover
≈ €200
Estimated: probably between €92 and €480
Total assets
€4,275=
2024 · €4,275
Net result
€19
2024 · -€424
Working capital
-€21,860▼ 5.6%
2022 · -€20,706
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a profit of €26, after a loss of €400 in 2024. It is the highest result since 2021.
Operating result€26
2025
Net result€19
2025
Total assets€4,275
2025
Equity-€17,990
2025
Debt€22,265
2025
Working capital-€21,860
2023
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€4,990--€7,838▼ 57.1%-€118▲ 98.5%-€5,403▼ 4,485%-€3,910▲ 27.6%-€1,076▲ 72.5%-€400▲ 62.9%€26
Net result-€4,990--€7,910▼ 58.5%-€225▲ 97.2%-€5,523▼ 2,360%-€4,083▲ 26.1%-€1,154▲ 71.7%-€424▲ 63.2%€19
Equity€1,310--€6,600-€6,825▼ 3.4%-€12,348▼ 80.9%-€16,431▼ 33.1%-€17,585▼ 7.0%-€18,009▼ 2.4%-€17,990▲ 0.1%
Total assets€38,367-€20,297▼ 47.1%€18,381▼ 9.4%€6,751▼ 63.3%€4,278▼ 36.6%€4,275▼ 0.1%€4,275=€4,275=
Debt€37,057-€26,897▼ 27.4%€25,206▼ 6.3%€19,099▼ 24.2%€20,709▲ 8.4%€21,860▲ 5.6%€22,284▲ 1.9%€22,265▼ 0.1%
Working capital-€16,699--€20,802▼ 24.6%-€17,220▲ 17.2%-€18,969▼ 10.2%-€20,706▼ 9.2%-€21,860▼ 5.6%
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Key figures and ratios
Debt ≤ 1 year
€22,265▼
2024 · €22,284
The ratios are withheld because a balance sheet total of €4,275 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,872 | €3,807 | €3,807 | €3,774 | €2,346 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €482 | €348 | €211 | €400 | - | - |
| Gross operating margin9900 | -€1,118 | -€3,002 | €4,036 | -€1,146 | -€1,217 | -€865 | - | €26 | - |
| Operating profit (loss)9901 | -€4,990 | -€7,838 | -€118 | -€5,403 | -€3,910 | -€1,076 | -€400 | €26 | - |
| Financial income75/76B | - | - | - | - | - | €19 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €19 | - | - | - |
| Financial charges65/66B | - | - | - | €121 | €173 | €97 | €25 | €8 | ▼ 68.5% |
| Recurring financial charges65 | - | €72 | €107 | €121 | €173 | €97 | €25 | €8 | ▼ 68.5% |
| Profit (loss) for the period before taxes9903 | -€4,990 | -€7,910 | -€225 | -€5,523 | -€4,083 | -€1,154 | -€424 | €19 | - |
| Profit (loss) for the period9904 | -€4,990 | -€7,910 | -€225 | -€5,523 | -€4,083 | -€1,154 | -€424 | €19 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,990 | -€7,910 | -€225 | -€5,523 | -€4,083 | -€1,154 | -€424 | €19 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €38,367 | €20,297 | €18,381 | €6,751 | €4,278 | €4,275 | €4,275 | €4,275 | = |
| Formation expenses20 | €746 | €559 | €371 | €184 | - | - | - | - | - |
| Fixed assets21/28 | €17,263 | €13,644 | €10,024 | €6,437 | €4,275 | €4,275 | €4,275 | €4,275 | = |
| Tangible fixed assets22/27 | €12,988 | €9,369 | €5,749 | €2,162 | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €2,162 | - | - | - | - | - |
| Financial fixed assets28 | €4,275 | €4,275 | €4,275 | €4,275 | €4,275 | €4,275 | €4,275 | €4,275 | = |
| Current assets29/58 | €20,359 | €6,095 | €7,986 | €130 | €3 | €0 | - | - | - |
| Stocks and contracts in progress3 | €936 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1,001 | €462 | €1,149 | €79 | - | - | - | - | - |
| Trade receivables40 | - | - | - | €20 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €59 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €18,422 | €5,633 | €6,837 | €51 | €3 | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €38,367 | €20,297 | €18,381 | €6,751 | €4,278 | €4,275 | €4,275 | €4,275 | = |
| Equity10/15 | €1,310 | -€6,600 | -€6,825 | -€12,348 | -€16,431 | -€17,585 | -€18,009 | -€17,990 | ▲ 0.1% |
| Contributions10/11 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | = |
| Capital10 | - | - | - | €6,300 | €6,300 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,300 | €12,300 | - | - | - | - |
| Profit (loss) carried forward14 | -€4,990 | -€12,900 | -€13,125 | -€18,648 | -€22,731 | -€23,885 | -€24,309 | -€24,290 | ▲ 0.1% |
| Amounts payable17/49 | €37,057 | €26,897 | €25,206 | €19,099 | €20,709 | €21,860 | €22,284 | €22,265 | ▼ 0.1% |
| Amounts payable within one year42/48 | €37,057 | €26,897 | €25,206 | €19,099 | €20,709 | €21,860 | €22,284 | €22,265 | ▼ 0.1% |
| Financial debts43 | - | - | - | - | - | - | €19 | - | - |
| Credit institutions430/8 | - | - | - | - | - | - | €19 | - | - |
| Trade debts44 | €420 | - | - | - | €395 | €144 | €544 | €544 | = |
| Suppliers440/4 | - | - | - | - | €395 | €144 | €544 | €544 | = |
| Other amounts payable47/48 | - | - | - | €19,099 | €20,314 | €21,715 | €21,721 | €21,721 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,990 | -€7,910 | -€225 | -€5,523 | -€4,083 | -€1,154 | -€424 | €19 | - |
| + Depreciation and write-downs630 | €3,872 | €3,807 | €3,807 | €3,774 | €2,346 | - | - | - | - |
| Operating cash flow (approximation) | -€1,118 | -€4,103 | €3,582 | -€1,749 | -€1,737 | -€1,154 | -€424 | €19 | - |
| Investment in fixed assets (approximation) | - | -€187 | -€187 | -€187 | -€184 | €0 | €0 | €0 | - |
| Change in cash | - | -€12,789 | €1,204 | -€6,786 | -€48 | -€3 | - | - | - |
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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00506121 | NBB |
| 31-12-2024 | micro format | 16-12-2025 | 2025-00589239 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00395400 | |
| 31-12-2022 | micro format | 03-10-2023 | 2023-00466444 | |
| 31-12-2021 | micro format | 15-09-2022 | 2022-20432954 | |
| 31-12-2020 | micro format | 28-09-2021 | 2021-68700379 | |
| 31-12-2019 | micro format | 01-10-2020 | 2020-58200201 | |
| 31-12-2018 | micro format | 31-08-2019 | 2019-62600011 |