Financials · financial year 2026, micro format
Annual accounts 2026 filed on 02-10-2026 at the NBB all 19 filings
Equity
€189,477▼ 38.2%
2025 · €306,421
Net result
-€93,017▼ 972%
2025 · -€8,675
Total assets
€3.8m▼ 21.1%
2025 · €4.8m
Solvency
5.0%▼ 1.4pp
2025 · 6.4%
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€36,534
2026
20192026
Net result
-€93,017
▼ 972%
2026
20192026
Equity
€189,477
▼ 38.2%
2026
20192026
Total assets
€3.8m
▼ 21.1%
2026
20192026
Debt
€3.5m
▼ 20.8%
2026
20192026
Working capital
-€828,995
▲ 36.0%
2026
20192026
Solvency
5.0%
▼ 1.4pp
2026
20192026
Current ratio
0.04
▼ 0.09
2026
20192026
Return on assets (ROA)
-2.4%
▼ 2.3pp
2026
20192026
Staff (FTE)
0.2
▼ 80.0%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€0.003m--€0.03m▼ 1,005%-€0.06m▼ 101%€0.6m-€0.09m€0.03m€0.1m▲ 270%-€0.04m
Net result-€0.03m--€0.06m▼ 88.1%-€0.1mbelow the sector's middle half▼ 90.3%€0.5mabove the sector's middle half-€0.09mbelow the sector's middle half-€0.06mbelow the sector's middle half▲ 31.0%-€0.009mbelow the sector's middle half▲ 85.5%-€0.09m▼ 972%
Equity€0.2m-€0.1m▼ 45.0%-€0.04mbelow the sector's middle half€0.4mwithin the sector's middle half€0.3mwithin the sector's middle half▼ 26.3%€0.2mwithin the sector's middle half▼ 26.6%€0.3mwithin the sector's middle half▲ 43.2%€0.2m▼ 38.2%
Total assets€2.9m-€4.0m▲ 37.5%€4.1mabove the sector's middle half▲ 2.1%€5.3mabove the sector's middle half▲ 30.5%€4.7mabove the sector's middle half▼ 11.3%€4.5mabove the sector's middle half▼ 4.2%€4.8mabove the sector's middle half▲ 6.4%€3.8m▼ 21.1%
Debt€2.7m-€3.9m▲ 43.0%€4.1m▲ 5.7%€4.9m▲ 19.7%€4.3m▼ 12.0%€4.2m▼ 2.7%€4.4m▲ 4.8%€3.5m▼ 20.8%
Working capital-€0.5m--€0.9m▼ 74.1%-€0.9mbelow the sector's middle half▼ 1.9%-€1.5mbelow the sector's middle half▼ 59.9%-€0.9mbelow the sector's middle half▲ 42.6%-€1.2mbelow the sector's middle half▼ 37.7%-€1.3mbelow the sector's middle half▼ 10.2%-€0.8m▲ 36.0%
Solvency6.2%-2.5%▼ 3.7pp-1.0%below the sector's middle half▼ 3.4pp7.4%below the sector's middle half▲ 8.4pp6.2%below the sector's middle half▼ 1.3pp4.7%below the sector's middle half▼ 1.4pp6.4%below the sector's middle half▲ 1.6pp5.0%▼ 1.4pp
Current ratio0.36-0.28▼ 0.090.07below the sector's middle half▼ 0.210.28below the sector's middle half▲ 0.210.20below the sector's middle half▼ 0.080.12below the sector's middle half▼ 0.080.13below the sector's middle half▲ 0.020.04▼ 0.09
Return on assets (ROA)-1.2%--1.6%▼ 0.4pp-3.0%below the sector's middle half▼ 1.4pp8.5%within the sector's middle half▲ 11.4pp-1.8%below the sector's middle half▼ 10.3pp-1.3%below the sector's middle half▲ 0.5pp-0.2%below the sector's middle half▲ 1.1pp-2.4%▼ 2.3pp
Staff (FTE)0.40.5▲ 25.0%1▲ 100%1=1=1=0.2▼ 80.0%
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 2026 is a loss of €36,534, after a profit of €104,393 in 2025.
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
2026 in colour, 2025 as the grey bar beneath
Assets €3.8m
Fixed assets
€3.7m ▼ 18.2%
Current assets
€35,221 ▼ 82.4%
Equity and liabilities €3.8m
Equity
€189,477 ▼ 38.2%
Provisions
€99,585 ▲ 22.8%
Debt
€3.5m ▼ 20.8%
Debt's share of the balance-sheet total rises from 92.0% to 92.4%. Equity and debt are lower.
Key figures and ratios
ROE
-49.1%▼
2025 · -2.8%
Debt ≤ 1 year
€864,216▼
2025 · €1.5m
Debt > 1 year
€2.6m▼
2025 · €2.9m
Income taxes
€388▲
2025 · €141
Staff costs
€3,013▼
2025 · €21,206
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | - |
| part-time | 1 | 1 | 1 | 1 | - |
| in full-time equivalents | 0.5 | 0.5 | 0.5 | 0.5 | - |
| Average over the year, in full-time equivalents | 0.5 | 0.5 | 0.5 | 0.5 | 0.1 |
| On a permanent contract | 1 | 1 | 1 | 1 | - |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €514,847 | €71,918 | €149,047 | €587,647 | €45,929 |
| Intangible fixed assets | - | - | - | - | €151,551 |
| Financial fixed assets | €466,000 | €694,000 | - | - | - |
| Depreciation and write-downs of the year | €238,764 | €261,189 | €271,104 | €288,681 | €330,786 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €65,709 awarded · €15,470 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €25,603 | €2,264 |
| 2023 | 2 | €26,400 | €13,206 |
| 2022 | 1 | €13,706 | €0 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €318,146 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €17,094 | €16,959 | €18,033 | €21,206 | €3,013 | ▼ 85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €187,635 | €212,384 | €225,291 | €238,764 | €261,189 | €271,104 | €288,681 | €330,786 | ▲ 14.6% |
| Other operating charges640/8 | - | - | - | €13,773 | €7,395 | €9,516 | €7,170 | €7,943 | ▲ 10.8% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €50,503 | - | - |
| Gross operating margin9900 | €190,557 | €197,903 | €185,265 | €829,040 | €199,652 | €326,849 | €471,953 | €305,208 | ▼ 35.3% |
| Operating profit (loss)9901 | -€2,834 | -€31,320 | -€62,977 | €559,409 | -€85,891 | €28,197 | €104,393 | -€36,534 | - |
| Financial income75/76B | - | - | - | €17,678 | €66,960 | €19,871 | €28,649 | €24,059 | ▼ 16.0% |
| Recurring financial income75 | €17,879 | €24,823 | €22,215 | €17,678 | €17,909 | €19,871 | €28,649 | €24,059 | ▼ 16.0% |
| Non-recurring financial income76B | - | - | - | - | €49,051 | - | - | - | - |
| Financial charges65/66B | - | - | - | €121,654 | €90,719 | €110,635 | €147,370 | €91,268 | ▼ 38.1% |
| Recurring financial charges65 | €48,846 | €57,092 | €80,229 | €121,654 | €90,719 | €110,635 | €147,370 | €91,268 | ▼ 38.1% |
| Profit (loss) for the period before taxes9903 | -€33,802 | -€63,590 | -€120,991 | €455,433 | -€109,650 | -€62,568 | -€14,328 | -€103,743 | ▼ 624% |
| Transfer from deferred taxes780 | - | - | - | - | €23,175 | €5,794 | €5,794 | €11,114 | ▲ 91.8% |
| Income taxes67/77 | €0 | - | - | €2,837 | €29 | €2,941 | €141 | €388 | ▲ 176% |
| Profit (loss) for the period9904 | -€33,802 | -€63,590 | -€120,991 | €452,597 | -€86,505 | -€59,716 | -€8,675 | -€93,017 | ▼ 972% |
| Transfer from tax-exempt reserves789 | - | - | - | €7,746 | €7,746 | €7,746 | €7,746 | €7,746 | = |
| Profit (loss) for the period to be appropriated9905 | -€28,645 | -€55,844 | -€113,246 | €460,342 | -€78,759 | -€51,970 | -€929 | -€85,272 | ▼ 9,074% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.9m | €4.0m | €4.1m | €5.3m | €4.7m | €4.5m | €4.8m | €3.8m | ▼ 21.1% |
| Formation expenses20 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.07m | €0.04m | ▼ 39.2% |
| Fixed assets21/28 | €2.4m | €3.4m | €3.8m | €4.6m | €4.4m | €4.3m | €4.6m | €3.7m | ▼ 18.2% |
| Intangible fixed assets21 | €0.006m | €0.005m | €0.004m | €0.003m | €0.002m | €0.001m | - | €0.1m | - |
| Tangible fixed assets22/27 | €2.4m | €3.2m | €3.6m | €3.9m | €3.7m | €3.6m | €3.9m | €3.6m | ▼ 6.6% |
| Land and buildings22 | - | - | - | €3.8m | €3.6m | €3.5m | €3.8m | €3.6m | ▼ 6.4% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €0.01m | €0.01m | ▼ 21.0% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.06m | €0.05m | €0.04m | €0.03m | ▼ 25.7% |
| Financial fixed assets28 | - | €0.3m | €0.3m | €0.7m | €0.7m | €0.7m | €0.7m | - | - |
| Current assets29/58 | €0.3m | €0.3m | €0.07m | €0.6m | €0.2m | €0.2m | €0.2m | €0.04m | ▼ 82.4% |
| Amounts receivable within one year40/41 | €0.02m | €0.003m | €0.003m | - | €0.001m | €0.1m | €0.2m | €25 | ▼ 100.0% |
| Trade receivables40 | - | - | - | - | - | €0.07m | €0.2m | - | - |
| Other amounts receivable41 | - | - | - | - | €0.001m | €0.07m | - | €25 | - |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.01m | €0.5m | €0.2m | €0.001m | €0.008m | €0.03m | ▲ 280% |
| Deferred charges and accrued income490/1 | - | - | - | €0.06m | €0.02m | €0.009m | €0.005m | €0.005m | ▼ 3.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.9m | €4.0m | €4.1m | €5.3m | €4.7m | €4.5m | €4.8m | €3.8m | ▼ 21.1% |
| Equity10/15 | €0.2m | €0.1m | -€0.04m | €0.4m | €0.3m | €0.2m | €0.3m | €0.2m | ▼ 38.2% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 7.6% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 7.6% |
| Distributable reserves133 | - | - | - | €0.04m | - | - | - | - | - |
| Profit (loss) carried forward14 | -€0.3m | -€0.3m | -€0.4m | - | -€0.04m | -€0.09m | -€0.09m | -€0.2m | ▼ 96.3% |
| Investment grants15 | - | - | - | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▼ 8.7% |
| Provisions and deferred taxes16 | - | - | - | - | €0.09m | €0.09m | €0.08m | €0.1m | ▲ 22.8% |
| Deferred taxes168 | - | - | - | - | €0.09m | €0.09m | €0.08m | €0.1m | ▲ 22.8% |
| Amounts payable17/49 | €2.7m | €3.9m | €4.1m | €4.9m | €4.3m | €4.2m | €4.4m | €3.5m | ▼ 20.8% |
| Amounts payable after more than one year17 | €1.9m | €2.6m | €3.1m | €2.9m | €3.3m | €2.9m | €2.9m | €2.6m | ▼ 9.9% |
| Financial debts170/4 | - | - | - | €2.9m | €3.3m | €2.9m | €2.9m | €2.6m | ▼ 9.9% |
| Amounts payable within one year42/48 | €0.8m | €1.3m | €1.0m | €2.1m | €1.1m | €1.3m | €1.5m | €0.9m | ▼ 42.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 1.2% |
| Trade debts44 | €0.02m | €0.02m | €0.02m | €0.03m | €0.002m | €0.005m | €0.03m | €0.001m | ▼ 95.7% |
| Suppliers440/4 | - | - | - | €0.03m | €0.002m | €0.005m | €0.03m | €0.001m | ▼ 95.7% |
| Advances received on contracts in progress46 | - | - | - | €0.01m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.006m | €0.01m | €0.1m | €0.05m | ▼ 48.7% |
| Taxes450/3 | - | - | - | €0.1m | €0.005m | €0.009m | €0.1m | €0.05m | ▼ 47.2% |
| Remuneration and social security454/9 | - | - | - | €0.003m | €0.001m | €0.002m | €0.003m | - | - |
| Other amounts payable47/48 | - | - | - | €1.7m | €0.8m | €1.1m | €1.1m | €0.5m | ▼ 51.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.004m | €0.005m | €0.004m | ▼ 14.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.03m | -€0.06m | -€0.1m | €0.5m | -€0.09m | -€0.06m | -€0.009m | -€0.09m | ▼ 972% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 14.6% |
| Operating cash flow (approximation) | €0.2m | €0.1m | €0.1m | €0.7m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 15.1% |
| Investment in fixed assets (approximation) | - | -€1.3m | -€0.6m | -€1.0m | -€0.05m | -€0.1m | -€0.6m | €0.5m | - |
| Change in cash | - | €0.04m | -€0.3m | €0.5m | -€0.3m | -€0.2m | €0.007m | €0.02m | ▲ 210% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 02-10-2026 | 2026-00553039 | |
| 31-03-2025 | micro format | 01-10-2025 | 2025-00528878 | |
| 31-03-2024 | micro format | 30-09-2024 | 2024-00491870 | |
| 31-03-2023 | micro format | 29-09-2023 | 2023-00468816 | |
| 31-03-2022 | micro format | 14-10-2022 | 2022-20468293 | |
| 31-03-2021 | micro format | 03-11-2021 | 2021-76400481 | |
| 31-03-2020 | micro format | 30-09-2020 | 2020-58000549 | |
| 31-03-2019 | micro format | 30-09-2019 | 2019-68300496 | |
| 31-03-2018 | micro format | 28-09-2018 | 2018-67900461 | |
| 31-03-2017 | micro format | 28-06-2017 | 2017-23300040 |