MARGE
Annual accounts 2025
micro format, filed on 12-03-2026, 49 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 ≈ €60,000. Estimated: probably between €29,000 and €120,000.
Balance sheet
balance sheet total €510,451 on 30-09-2025in euro
in euro
Position in the sector
96.0%
Higher than 95% of 39,360 companies in 2025.
22.04
Higher than 95% of 38,044 companies in 2025.
0.4%
Higher than 20% of 38,516 companies in 2025.
Net result: bottom quarter · Equity: top quarter · 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 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
510,451 | 505,091 | 508,932 | 499,469 | 474,550 | 444,314 | 740,401 | 734,767 | 674,683 | 632,270 | 614,008 | 587,493 | 568,658 | 517,016 | 463,591 | 439,861 | 448,064 | 398,981 | 397,387 | 404,705 | |
21/28 |
59,549 | 67,700 | 83,892 | 100,085 | 116,277 | 132,586 | 112,263 | 106,918 | 110,433 | 38,845 | 21,582 | 19,630 | 20,149 | 20,668 | 21,186 | 21,735 | 23,244 | 24,753 | 37,505 | 44,804 | |
22/27 |
59,549 | 67,700 | 83,892 | 100,085 | 116,277 | 132,586 | 112,263 | 106,918 | 110,433 | 38,845 | 21,582 | 19,630 | 20,149 | 20,668 | 21,186 | 21,735 | 23,244 | 24,753 | 37,505 | 44,804 | |
22 |
54,315 | 60,478 | 66,641 | 72,804 | 78,966 | 85,129 | 91,292 | 91,671 | 93,904 | 36,890 | 19,111 | 19,630 | 20,149 | 20,668 | 21,186 | 21,705 | 22,224 | 22,743 | 26,423 | 29,954 | |
23 |
715 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
24 |
4,518 | 7,222 | 17,252 | 27,281 | 37,311 | 47,457 | 20,972 | 15,247 | 16,529 | 1,955 | 2,471 | - | - | - | - | 30 | 1,020 | 2,010 | 11,082 | 14,850 | |
29/58 |
450,902 | 437,391 | 425,039 | 399,384 | 358,273 | 311,728 | 628,137 | 627,850 | 564,250 | 593,425 | 592,426 | 567,864 | 548,510 | 496,349 | 442,404 | 418,126 | 424,820 | 374,228 | 359,883 | 359,900 | |
40/41 |
21,288 | 26,233 | 2,306 | 13,731 | 10,977 | 11,736 | 504,183 | 526,045 | 515,012 | 539,111 | 499,946 | 498,962 | 452,550 | 430,917 | 431,914 | 344,342 | 360,072 | 368,660 | 358,781 | 354,140 | |
40 |
12,243 | 17,567 | 1,337 | 12,447 | 4,684 | - | 28,723 | 5,070 | 3,933 | 40,503 | 3,025 | 386 | 4,780 | 6,075 | 7,572 | - | 15,730 | 20,000 | 12,500 | 9,582 | |
41 |
9,045 | 8,666 | 969 | 1,284 | 6,294 | 11,736 | 475,460 | 520,975 | 511,080 | 498,608 | 496,921 | 498,576 | 447,770 | 424,842 | 424,342 | 344,342 | 344,342 | 348,660 | 346,281 | 344,558 | |
50/53 |
398,485 | 399,890 | 374,890 | 374,890 | 250,191 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
29,439 | 9,388 | 46,124 | 7,307 | 97,104 | 299,992 | 123,954 | 101,805 | 49,238 | 54,314 | 92,481 | 68,902 | 95,960 | 65,432 | 10,490 | 73,784 | 64,748 | 5,569 | 1,102 | 5,651 | |
490/1 |
1,689 | 1,881 | 1,718 | 3,456 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 110 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
510,451 | 505,091 | 508,932 | 499,469 | 474,550 | 444,314 | 740,401 | 734,767 | 674,683 | 632,270 | 614,008 | 587,493 | 568,658 | 517,016 | 463,591 | 439,861 | 448,064 | 398,981 | 397,387 | 404,705 | |
10/15 |
489,990 | 488,054 | 486,257 | 447,006 | 429,043 | 387,948 | 654,772 | 648,947 | 610,860 | 577,700 | 557,005 | 529,013 | 494,815 | 459,200 | 419,672 | 409,480 | 409,185 | 393,816 | 393,605 | 404,705 | |
10/11 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | |
10 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | |
13 |
540,775 | 540,775 | 540,775 | 501,523 | 501,523 | 501,523 | 501,523 | 495,698 | 457,611 | 457,611 | 457,611 | 441,816 | 441,816 | 441,816 | 441,816 | 442,111 | 441,816 | 441,816 | 441,816 | 441,816 | |
130/1 |
17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 1,558 | 1,558 | 1,558 | 1,558 | 1,558 | 1,558 | 1,558 | 1,558 | 1,558 | |
132 |
- | - | - | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | 440,259 | - | - | |
133 |
523,422 | 523,422 | 523,422 | 43,912 | 43,912 | 43,912 | 43,912 | 38,087 | - | - | - | - | - | - | - | 295 | - | - | 440,259 | 440,259 | |
14 |
-224,311 | -226,246 | -228,043 | -228,043 | -246,006 | -287,101 | -20,277 | -20,277 | -20,277 | -53,437 | -74,132 | -86,329 | -120,527 | -156,142 | -195,670 | -206,157 | -206,157 | -221,526 | -221,737 | -210,637 | |
17/49 |
20,461 | 17,037 | 22,674 | 52,463 | 45,507 | 56,366 | 85,628 | 85,820 | 63,823 | 54,570 | 57,003 | 58,481 | 73,843 | 57,816 | 43,919 | 30,381 | 38,879 | 5,165 | 3,782 | - | |
42/48 |
20,461 | 16,071 | 22,181 | 52,463 | 45,507 | 56,366 | 85,628 | 85,820 | 63,823 | 44,210 | 55,953 | 58,481 | 68,093 | 45,253 | 35,979 | 30,381 | 32,629 | 5,165 | 3,782 | - | |
44 |
11,040 | 4,578 | 30 | 459 | 629 | 2,589 | 371 | 578 | 1,873 | 1,470 | 194 | 925 | 3,153 | 6,665 | 8,472 | 151 | 1,674 | 813 | 1,303 | - | |
440/4 |
11,040 | 4,578 | 30 | 459 | 629 | 2,589 | 371 | 578 | 1,873 | 1,470 | 194 | 925 | 3,153 | 6,665 | 8,472 | 151 | 1,674 | 813 | 1,303 | - | |
46 |
- | - | - | - | 2,605 | 2,605 | - | - | - | - | - | 2,783 | - | - | - | - | - | - | 2,479 | - | |
45 |
- | - | - | 17,569 | 1,087 | 1,087 | 698 | 3,938 | 118 | - | 2,829 | - | - | 851 | 812 | 2,267 | 6,600 | - | - | - | |
450/3 |
- | - | - | 17,569 | 1,087 | 1,087 | 698 | 3,938 | 118 | - | 2,829 | - | - | 851 | 812 | 2,267 | 6,600 | - | - | - | |
47/48 |
9,421 | 11,493 | 22,151 | 34,435 | 41,186 | 50,085 | 84,560 | 81,304 | 61,833 | 42,740 | 52,930 | 54,773 | 64,940 | 37,737 | 26,694 | 27,962 | 24,355 | 4,353 | - | - | |
492/3 |
- | 966 | 493 | - | - | - | - | - | - | 10,360 | 1,050 | - | 5,750 | 12,563 | 7,940 | - | 6,250 | - | - | - | |
| Income statement | |||||||||||||||||||||
9900 |
12,818 | 19,047 | 68,877 | 133,433 | 58,215 | 98,582 | 73,026 | 66,713 | 51,906 | 48,016 | 54,422 | 56,602 | 55,785 | 62,734 | 30,763 | 19,131 | 36,036 | 11,981 | 1,918 | -9,189 | |
630 |
9,117 | 16,193 | 16,193 | 16,193 | 16,309 | 16,309 | 8,993 | 7,903 | 8,867 | 4,142 | 1,754 | 519 | 519 | 519 | 549 | 1,509 | 1,509 | 4,670 | 12,488 | 12,409 | |
640/8 |
1,062 | 2,462 | 1,953 | 19,334 | 2,314 | 3,130 | 2,007 | 1,569 | 2,341 | 821 | 1,573 | 1,489 | 1,769 | 2,591 | 1,917 | 1,470 | 2,109 | 3,386 | - | - | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,582 | - | - | |
9901 |
2,639 | 392 | 50,731 | 97,907 | 39,592 | 79,144 | 62,026 | 57,241 | 40,697 | 43,053 | 51,095 | 54,594 | 53,497 | 59,624 | 28,297 | 16,152 | 32,419 | 3,925 | -10,570 | -21,598 | |
75/76B |
379 | 2,968 | 2,739 | 2,818 | 1,737 | 8 | 7,596 | 7,144 | 14,159 | 21 | 26 | 60 | 2,724 | 15 | 56 | 82 | - | 2 | - | - | |
75 |
379 | 2,968 | 2,739 | 2,818 | 1,737 | 8 | 7,596 | 7,144 | 14,159 | 21 | 26 | 60 | 2,724 | 15 | 56 | 82 | - | 2 | - | - | |
65/66B |
119 | 182 | 189 | 2,174 | 102 | 345,587 | 53,099 | 2,360 | 1,578 | 2,385 | 3,083 | 370 | 502 | 108 | 166 | 427 | 49 | 135 | 529 | -6 | |
65 |
119 | 182 | 189 | 2,174 | 102 | 345,587 | 53,099 | 2,360 | 1,578 | 2,385 | 3,083 | 370 | 502 | 108 | 166 | 427 | 49 | 135 | 529 | -6 | |
9903 |
2,899 | 3,178 | 53,282 | 98,551 | 41,227 | -266,435 | 16,523 | 62,025 | 53,278 | 40,689 | 48,038 | 54,284 | 55,719 | 59,530 | 28,187 | 15,807 | 32,369 | 211 | -11,099 | -21,592 | |
67/77 |
964 | 1,382 | 14,031 | 80,588 | 133 | 389 | 698 | 3,938 | 118 | -7 | 46 | 86 | 104 | 2 | -5 | 12 | - | - | - | - | |
9904 |
1,935 | 1,797 | 39,251 | 17,963 | 41,095 | -266,824 | 15,825 | 58,087 | 53,161 | 40,695 | 47,992 | 54,198 | 55,615 | 59,528 | 28,192 | 15,795 | 32,369 | 211 | -11,099 | -21,592 | |
9905 |
1,935 | 1,797 | 39,251 | 17,963 | 41,095 | -266,824 | 15,825 | 58,087 | 53,161 | 40,695 | 47,992 | 54,198 | 55,615 | 59,528 | 28,192 | 15,795 | 32,369 | 211 | -11,099 | -21,592 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
-224,311 | -226,246 | -188,791 | -228,043 | -246,006 | -287,101 | -4,451 | 37,810 | -277 | -33,437 | -38,337 | -66,329 | -100,527 | -136,142 | -177,670 | -190,362 | -189,157 | -221,526 | -221,737 | -210,637 | |
14P |
-226,246 | -228,043 | -228,043 | -246,006 | -287,101 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 39,251 | - | - | - | 5,825 | 38,087 | - | - | 15,795 | - | - | - | - | 295 | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | 15,795 | - | - | - | - | - | - | - | - | - | |
6921 |
- | - | 39,251 | - | - | - | 5,825 | 38,087 | - | - | - | - | - | - | - | 295 | - | - | - | - | |
694/7 |
- | - | - | - | - | - | 10,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 18,000 | 15,500 | 17,000 | - | - | - | |
695 |
- | - | - | - | - | - | 10,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 18,000 | 15,500 | 17,000 | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 14 older financial years (1992-2005) were filed as documents without figures as data, scans for example.
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 12-03-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 12-03-2026 | 2026-00052820 | |
| 30-09-2024 | micro format | 03-04-2025 | 2025-00062439 | |
| 30-09-2023 | micro format | 18-03-2024 | 2024-00045632 | |
| 30-09-2022 | micro format | 27-04-2023 | 2023-00067998 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20015198 | |
| 30-09-2020 | micro format | 08-04-2021 | 2021-10000399 | |
| 30-09-2019 | micro format | 27-03-2020 | 2020-07800231 | |
| 30-09-2018 | micro format | 15-03-2019 | 2019-07100518 | |
| 30-09-2017 | micro format | 29-03-2018 | 2018-08500227 | |
| 30-09-2016 | abbreviated format | 24-03-2017 | 2017-07300444 | |
| 30-09-2015 | abbreviated format | 24-03-2016 | 2016-07700265 | |
| 30-09-2014 | abbreviated format | 26-03-2015 | 2015-08000119 | |
| 30-09-2013 | abbreviated format | 29-04-2014 | 2014-10600384 | |
| 30-09-2012 | abbreviated format | 30-04-2013 | 2013-11000038 | |
| 30-09-2011 | abbreviated format | 30-04-2012 | 2012-10400294 | |
| 30-09-2010 | abbreviated format | 03-05-2011 | 2011-10100448 | |
| 30-09-2009 | abbreviated format | 21-05-2010 | 2010-12600145 | |
| 30-09-2008 | abbreviated format | 29-04-2009 | 2009-12600232 | |
| 30-09-2007 | abbreviated format | 29-04-2008 | 2008-12500245 | |
| 30-09-2006 | abbreviated format | 30-04-2007 | 2007-13200041 | |
| 30-09-2005 | abbreviated format | 28-04-2006 | 2006-12703093 | |
| 30-09-2004 | abbreviated format | 29-06-2005 | 2005-37104802 | |
| 30-09-2003 | abbreviated format | 28-05-2004 | 2004-17702914 | |
| 30-09-2002 | abbreviated format | 28-07-2003 | 2003-52003478 | |
| 30-09-2001 | abbreviated format | 31-03-2003 | 2003-09303022 | |
| 30-09-2000 | abbreviated format | 06-12-2001 | 2001-74004575 | |
| 30-09-1999 | abbreviated format | 23-01-2001 | 2001-02204082 | |
| 30-09-1998 | abbreviated format | 19-10-1999 | 1999-54000651 | |
| 30-09-1997 | abbreviated format | 30-11-1998 | 1998-59504038 | |
| 30-09-1996 | abbreviated format | 07-10-1997 | 1997-48000968 | |
| 30-09-1995 | abbreviated format | 05-08-1996 | 1996-39202072 | |
| 30-09-1994 | abbreviated format | 10-04-1996 | 1996-05702978 | |
| 30-09-1993 | abbreviated format | 13-07-1994 | 1994-29501196 | |
| 30-09-1992 | abbreviated format | 07-09-1993 | 1993-34800588 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,756 | 16,585 | 66,924 | 114,100 | 55,901 | 95,452 | 71,019 | 65,144 | 49,565 | 47,195 | 52,849 | 55,113 | 54,016 | 60,143 | 28,846 | 17,661 | 33,928 | 8,595 | 1,918 | -9,189 | ||
| 11,052 | 17,989 | 55,444 | 34,156 | 57,403 | -250,516 | 24,818 | 65,989 | 62,028 | 44,837 | 49,746 | 54,717 | 56,134 | 60,047 | 28,741 | 17,304 | 33,878 | 4,880 | 1,389 | -9,183 | ||
| 966 | 0 | 0 | 0 | 0 | 36,631 | 14,339 | 4,387 | 80,455 | 21,405 | 3,706 | 0 | 0 | 0 | 0 | 0 | 0 | 3,000 | 5,189 | 18,470 | ||
| 20,052 | -36,737 | 38,817 | -89,797 | -202,888 | 176,038 | 22,149 | 52,567 | -5,076 | -38,166 | 23,578 | -27,057 | 30,528 | 54,942 | -63,294 | 9,036 | 59,179 | 4,467 | -4,549 | - | ||
| 430,441 | 421,320 | 402,858 | 346,921 | 312,766 | 255,362 | 542,509 | 542,029 | 500,427 | 549,215 | 536,473 | 509,383 | 480,416 | 451,096 | 406,426 | 387,745 | 392,191 | 369,063 | 356,101 | - | ||
| 96.0% | 96.6% | 95.5% | 89.5% | 90.4% | 87.3% | 88.4% | 88.3% | 90.5% | 91.4% | 90.7% | 90.0% | 87.0% | 88.8% | 90.5% | 93.1% | 91.3% | 98.7% | 99.0% | 100.0% | ||
| 22.04 | 27.22 | 19.16 | 7.61 | 7.87 | 5.53 | 7.34 | 7.32 | 8.84 | 13.42 | 10.59 | 9.71 | 8.06 | 10.97 | 12.30 | 13.76 | 13.02 | 72.45 | 95.16 | - | ||
| 0.04 | 0.03 | 0.05 | 0.12 | 0.11 | 0.15 | 0.13 | 0.13 | 0.10 | 0.09 | 0.10 | 0.11 | 0.15 | 0.13 | 0.10 | 0.07 | 0.10 | 0.01 | 0.01 | - | ||
| 0.4% | 0.4% | 8.1% | 4.0% | 9.6% | -68.8% | 2.4% | 9.0% | 8.7% | 7.0% | 8.6% | 10.2% | 11.2% | 13.0% | 6.7% | 3.9% | 7.9% | 0.1% | -2.8% | -5.3% | ||
| 0.4% | 0.4% | 7.7% | 3.6% | 8.7% | -60.1% | 2.1% | 7.9% | 7.9% | 6.4% | 7.8% | 9.2% | 9.8% | 11.5% | 6.1% | 3.6% | 7.2% | 0.1% | -2.8% | -5.3% | ||
| 98.51 | 91.01 | over 100 | 52.49 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €966 | - | - | - | - |
| €9,117 | €16,193 | €16,193 | €16,193 | €16,309 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MARGE
The operating result for 2025 is 6.7 times that of 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 3.4% to 4.0%. Equity and debt are higher.