MAKING STRATEGY WORK
Annual accounts 2025
micro format, filed on 17-03-2026, 45 days lateMoney flows
no detail for 2025Balance sheet
balance sheet total €816,243 on 30-06-2025in euro
in euro
Position in the sector
15.9%
Higher than 20% of 39,376 companies in 2025.
9.44
Higher than 89% of 38,058 companies in 2025.
27.2%
Higher than 68% of 38,530 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
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 |
816,243 | 579,009 | 338,422 | 346,871 | 344,351 | 292,842 | |
21/28 |
2,592 | 7,012 | 11,539 | 17,592 | 23,978 | 1,267 | |
22/27 |
2,092 | 6,512 | 11,039 | 17,092 | 23,378 | 1,167 | |
26 |
2,092 | 6,512 | 11,039 | 17,092 | 23,378 | 1,167 | |
28 |
500 | 500 | 500 | 500 | 600 | 100 | |
29/58 |
813,651 | 571,998 | 326,883 | 329,279 | 320,373 | 291,575 | |
29 |
450,797 | 425,197 | 294,661 | 294,661 | 264,661 | 57,523 | |
291 |
450,797 | 425,197 | 294,661 | 294,661 | 264,661 | 57,523 | |
40/41 |
190,323 | 98,436 | 3,113 | 16,668 | 5,207 | 49,859 | |
40 |
45,032 | 32,657 | - | 1,000 | 4,798 | 49,859 | |
41 |
145,291 | 65,779 | 3,113 | 15,668 | 410 | - | |
54/58 |
111,685 | 10,435 | 3,277 | 322 | 42,520 | 184,191 | |
490/1 |
60,846 | 37,929 | 25,832 | 17,628 | 7,984 | 2 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
816,243 | 579,009 | 338,422 | 346,871 | 344,351 | 292,842 | |
10/15 |
130,052 | 77,954 | 67,477 | 75,536 | 75,724 | 58,845 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | |
11 |
- | - | - | - | - | 18,600 | |
1100/10 |
- | - | - | - | - | 18,600 | |
14 |
111,452 | 59,354 | 48,877 | 56,936 | 57,124 | 40,245 | |
17/49 |
686,191 | 501,056 | 270,945 | 271,336 | 268,627 | 233,996 | |
17 |
600,000 | 430,000 | 250,000 | 250,000 | 253,000 | 153,000 | |
178/9 |
600,000 | 430,000 | 250,000 | 250,000 | 253,000 | 153,000 | |
42/48 |
86,191 | 71,056 | 20,945 | 21,336 | 15,627 | 80,996 | |
43 |
1,015 | 8,555 | - | 798 | 281 | 6,019 | |
430/8 |
- | 8,555 | - | - | - | - | |
439 |
1,015 | - | - | 798 | 281 | 6,019 | |
44 |
55,669 | 6,924 | 5,859 | 12,537 | 7,197 | 1,142 | |
440/4 |
55,669 | 6,924 | 5,859 | 12,537 | 7,197 | 1,142 | |
45 |
29,507 | 55,576 | - | 8,000 | 8,000 | 64,236 | |
450/3 |
29,507 | 55,576 | - | 8,000 | 8,000 | 57,636 | |
454/9 |
- | - | - | - | - | 6,600 | |
47/48 |
- | - | 15,086 | - | 149 | 9,599 | |
| Income statement | |||||||
70 |
- | 267,200 | - | - | - | - | |
76A |
- | - | 5,010 | 4,510 | - | - | |
9900 |
216,059 | 227,109 | -9,841 | -2,665 | 147,830 | 270,023 | |
60/61 |
- | 79,784 | - | - | - | - | |
630 |
4,420 | 4,527 | 6,053 | 6,286 | 4,786 | 1,633 | |
640/8 |
3,637 | 39,358 | 797 | 595 | 21,142 | 51,480 | |
9901 |
208,003 | 183,224 | -16,691 | -9,547 | 121,901 | 216,910 | |
75/76B |
22,928 | 12,254 | 10,313 | 10,583 | 5,638 | 53 | |
75 |
22,928 | 12,254 | 10,313 | 10,583 | 5,638 | 53 | |
65/66B |
205 | 701 | 1,297 | 1,225 | 2,658 | 3,709 | |
65 |
205 | 701 | 1,297 | 1,225 | 2,658 | 3,709 | |
9903 |
230,726 | 194,777 | -7,675 | -189 | 124,882 | 213,254 | |
67/77 |
8,627 | 4,300 | 384 | - | 8,002 | 20,008 | |
9904 |
222,098 | 190,477 | -8,059 | -189 | 116,879 | 193,245 | |
9905 |
222,098 | 190,477 | -8,059 | -189 | 116,879 | 193,245 | |
| Appropriation of the result | |||||||
9906 |
281,452 | 239,354 | 48,877 | 56,936 | 157,124 | 193,245 | |
14P |
59,354 | 48,877 | 56,936 | 57,124 | - | - | |
694/7 |
170,000 | 180,000 | - | - | 100,000 | 153,000 | |
695 |
170,000 | 180,000 | - | - | 100,000 | 153,000 | |
697 |
- | 0 | - | - | - | - | |
| Document | |||||||
The notes to these accounts have 5 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 17-03-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 45 days after the deadline. Filed on 17 March 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00057812.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 17-03-2026 | 2026-00057812 | |
| 30-06-2024 | micro format | 04-02-2025 | 2025-00028452 | |
| 30-06-2023 | micro format | 01-03-2024 | 2024-00038876 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00009160 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04600429 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03400402 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 212,422 | 187,751 | -10,638 | -3,260 | 126,687 | 218,543 | ||
| 226,518 | 195,005 | -2,006 | 6,098 | 121,666 | 194,879 | ||
| 0 | 0 | 0 | -100 | 27,498 | 2,900 | ||
| 101,250 | 7,158 | 2,955 | -42,198 | -141,671 | - | ||
| 727,460 | 500,942 | 305,938 | 307,944 | 304,746 | 210,579 | ||
| - | 68.6% | - | - | - | - | ||
| 15.9% | 13.5% | 19.9% | 21.8% | 22.0% | 20.1% | ||
| 9.44 | 8.05 | 15.61 | 15.43 | 20.50 | 3.60 | ||
| 5.28 | 6.43 | 4.02 | 3.59 | 3.55 | 3.98 | ||
| 170.8% | 244.3% | -11.9% | -0.2% | 154.3% | 328.4% | ||
| 27.2% | 32.9% | -2.4% | -0.1% | 33.9% | 66.0% | ||
| over 100 | over 100 | -8.20 | -2.66 | - | - | ||
| - | 45 days | - | - | - | - | ||
| - | 32 days | - | - | - | - |
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.
Insights on MAKING STRATEGY WORK
The operating result for 2025 is 14% higher than in 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 falls from 86.5% to 84.1%. Equity and debt are higher.