Summary
MicroStart Support is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €47,868 and a net result of €26,394. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 7% of 2,997 sector peers (NACE 64, financial year 2025). The association has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
Equity
€47,868▲ 123%
2024 · €21,473
Net result
€26,394▼ 26.2%
2024 · €35,758
Total assets
€1.2m▼ 8.6%
2024 · €1.3m
Solvency
4.1%▲ 2.4pp
2024 · 1.7%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 26% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.03m
2025
Net result€0.03m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.2m
2025
Equity€0.05m
2025
Debt€1.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.8m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency4.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio4.41
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)11.3
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.1m
Operating result€0.002m-€0.1m▲ 3,777%€0.05m▼ 47.5%-€0.1m-€0.2m▼ 66.0%€0.05m€0.05m▼ 16.9%€0.03m▼ 25.5%
Net result€0.003m-€0.1m▲ 5,011%€0.05mwithin the sector's middle half▼ 64.8%-€0.1mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 65.2%€0.04mwithin the sector's middle half€0.04mwithin the sector's middle half▲ 1.7%€0.03mwithin the sector's middle half▼ 26.2%
Equity€0.1m-€0.2m▲ 127%€0.3mbelow the sector's middle half▲ 17.9%€0.2mbelow the sector's middle half▼ 43.0%-€0.04mbelow the sector's middle half-€0.01mbelow the sector's middle half▲ 70.4%€0.02mbelow the sector's middle half€0.05mbelow the sector's middle half▲ 123%
Total assets€1.2m-€1.6m▲ 36.0%€1.3mbelow the sector's middle half▼ 17.2%€1.8mwithin the sector's middle half▲ 39.6%€1.1mbelow the sector's middle half▼ 40.3%€1.3mbelow the sector's middle half▲ 22.6%€1.3mbelow the sector's middle half▼ 6.0%€1.2mbelow the sector's middle half▼ 8.6%
Debt€1.1m-€1.4m▲ 27.7%€1.0m▼ 23.4%€1.7m▲ 62.1%€1.1m▼ 33.3%€1.4m▲ 21.4%€1.2m▼ 8.4%€1.1m▼ 10.8%
Working capital€0.7m-€1.2m▲ 73.4%€1.1mwithin the sector's middle half▼ 12.0%€1.2mwithin the sector's middle half▲ 16.5%€0.9mwithin the sector's middle half▼ 30.7%€1.0mwithin the sector's middle half▲ 13.1%€0.9mwithin the sector's middle half▼ 7.6%€0.8mwithin the sector's middle half▼ 13.8%
Solvency9.0%-15.0%▲ 6.0pp21.4%below the sector's middle half▲ 6.4pp8.7%below the sector's middle half▼ 12.7pp-3.5%below the sector's middle half▼ 12.3pp-0.9%below the sector's middle half▲ 2.7pp1.7%below the sector's middle half▲ 2.5pp4.1%below the sector's middle half▲ 2.4pp
Current ratio2.95-5.06▲ 2.117.87above the sector's middle half▲ 2.813.40above the sector's middle half▼ 4.476.61above the sector's middle half▲ 3.214.02above the sector's middle half▼ 2.594.22above the sector's middle half▲ 0.204.41above the sector's middle half▲ 0.19
Return on assets (ROA)0.2%-9.0%▲ 8.8pp3.8%within the sector's middle half▼ 5.2pp-6.1%below the sector's middle half▼ 10.0pp-17.0%below the sector's middle half▼ 10.9pp2.6%within the sector's middle half▲ 19.6pp2.8%within the sector's middle half▲ 0.2pp2.3%within the sector's middle half▼ 0.5pp
Staff (FTE)10.3-10.9▲ 5.8%13.7above the sector's middle half▲ 25.7%16.9above the sector's middle half▲ 23.4%16.4above the sector's middle half▼ 3.0%11.1above the sector's middle half▼ 32.3%12.6above the sector's middle half▲ 13.5%11.3above the sector's middle half▼ 10.3%
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€166,621 ▲ 64.3%
Current assets
€991,253 ▼ 14.9%
Equity and liabilities €1.2m
Equity
€47,868 ▲ 123%
Debt
€1.1m ▼ 10.8%
Debt's share of the balance-sheet total falls from 98.3% to 95.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
55.1%▼
2024 · 166.5%
Debt ≤ 1 year
€225,000▼
2024 · €276,387
Debt > 1 year
€422,000▲
2024 · €45,000
Staff costs
€777,071▼
2024 · €807,993
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €0.1m | - |
| Membership fees, donations, legacies and grants73 | - | - | - | - | €1.0m | €1.2m | €1.2m | €1.0m | ▼ 15.9% |
| Non-recurring operating income76A | - | - | - | €0.002m | €0.002m | €0.01m | €0.2m | €0.2m | ▼ 0.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €0.5m | €0.4m | €0.5m | €0.3m | ▼ 36.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.9m | €0.8m | €0.7m | €0.8m | €0.8m | ▼ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | €0.02m | €0.06m | ▲ 198% |
| Other operating charges640/8 | - | - | - | €0.1m | €0.2m | €0.1m | €0.08m | €0.09m | ▲ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | €0.003m | €0 | - | - | - |
| Gross operating margin9900 | €0.6m | €0.8m | €0.8m | €1.0m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 0.8% |
| Operating profit (loss)9901 | €0.002m | €0.1m | €0.05m | -€0.1m | -€0.2m | €0.05m | €0.05m | €0.03m | ▼ 25.5% |
| Financial income75/76B | - | - | - | €60 | - | €262 | €0.003m | €26 | ▼ 99.1% |
| Recurring financial income75 | €75 | €112 | - | €60 | - | €262 | €0.003m | €26 | ▼ 99.1% |
| Financial charges65/66B | - | - | - | €0.001m | €0.001m | €0.02m | €0.01m | €0.007m | ▼ 40.3% |
| Recurring financial charges65 | €419 | €0.001m | €465 | €0.001m | €0.001m | €0.02m | €0.01m | €0.007m | ▼ 40.3% |
| Profit (loss) for the period before taxes9903 | €0.002m | €0.1m | €0.05m | -€0.1m | -€0.2m | €0.04m | €0.04m | €0.03m | ▼ 26.2% |
| Income taxes67/77 | - | €0.004m | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.003m | €0.1m | €0.05m | -€0.1m | -€0.2m | €0.04m | €0.04m | €0.03m | ▼ 26.2% |
| Profit (loss) for the period to be appropriated9905 | €0.003m | €0.1m | €0.05m | -€0.1m | -€0.2m | €0.04m | €0.04m | €0.03m | ▼ 26.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.6m | €1.3m | €1.8m | €1.1m | €1.3m | €1.3m | €1.2m | ▼ 8.6% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | €0.1m | €0.2m | ▲ 64.3% |
| Intangible fixed assets21 | €0.07m | €0.05m | €0.03m | €0.02m | €0.02m | €0.003m | €0.04m | €0.1m | ▲ 192% |
| Tangible fixed assets22/27 | €0.05m | €0.05m | €0.05m | €0.05m | €0.04m | €0.03m | €0.03m | €0.005m | ▼ 79.6% |
| Furniture and vehicles24 | - | - | - | €0.009m | €0.009m | €0.01m | €0.009m | €0.005m | ▼ 43.6% |
| Other tangible fixed assets26 | - | - | - | €0.04m | €0.03m | €0.02m | €0.02m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.002m | €0.002m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 3.5% |
| Current assets29/58 | €1.0m | €1.5m | €1.2m | €1.7m | €1.0m | €1.3m | €1.2m | €1.0m | ▼ 14.9% |
| Amounts receivable after more than one year29 | - | - | - | €0.7m | €0.2m | €0.04m | €0.5m | €0.3m | ▼ 41.5% |
| Other amounts receivable291 | - | - | - | €0.7m | €0.2m | €0.04m | €0.5m | €0.3m | ▼ 41.5% |
| Amounts receivable within one year40/41 | €0.4m | €0.8m | €0.5m | €0.8m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 12.0% |
| Trade receivables40 | - | - | - | €0.03m | €0.2m | €0.06m | €0.05m | €0.02m | ▼ 67.7% |
| Other amounts receivable41 | - | - | - | €0.7m | €0.5m | €0.6m | €0.5m | €0.5m | ▼ 6.4% |
| Cash at bank and in hand54/58 | €0.1m | €0.06m | €0.4m | €0.3m | €0.1m | €0.6m | €0.1m | €0.2m | ▲ 63.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.01m | €0.01m | €0.001m | €0.003m | ▲ 515% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.6m | €1.3m | €1.8m | €1.1m | €1.3m | €1.3m | €1.2m | ▼ 8.6% |
| Equity10/15 | €0.1m | €0.2m | €0.3m | €0.2m | -€0.04m | -€0.01m | €0.02m | €0.05m | ▲ 123% |
| Revaluation surpluses12 | - | - | - | - | €0 | - | - | - | - |
| Reserves13 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.09m | ▼ 15.3% |
| Profit (loss) carried forward14 | €0.004m | €0.04m | €0.04m | -€0.04m | -€0.2m | -€0.1m | -€0.08m | -€0.04m | ▲ 51.3% |
| Investment grants15 | - | - | - | €0.02m | €0.01m | €0.003m | €0 | - | - |
| Provisions and deferred taxes16 | €0.006m | - | - | - | €0.02m | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0.02m | - | - | - | - |
| Pensions and similar obligations160 | - | - | - | - | €0 | - | - | - | - |
| Taxes161 | - | - | - | - | €0 | - | - | - | - |
| Major repairs and maintenance162 | - | - | - | - | €0 | - | - | - | - |
| Environmental obligations163 | - | - | - | - | €0 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €0.02m | - | - | - | - |
| Deferred taxes168 | - | - | - | - | €0 | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.4m | €1.0m | €1.7m | €1.1m | €1.4m | €1.2m | €1.1m | ▼ 10.8% |
| Amounts payable after more than one year17 | €0.03m | €0.03m | €0.01m | - | €0.6m | €0.2m | €0.05m | €0.4m | ▲ 838% |
| Financial debts170/4 | - | - | - | - | €0 | - | - | - | - |
| Trade debts175 | - | - | - | - | €0.6m | €0.2m | €0.05m | €0.4m | ▲ 838% |
| Advances received on contracts in progress176 | - | - | - | - | €0 | - | - | - | - |
| Other amounts payable178/9 | - | - | - | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.2m | €0.5m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 18.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €0.1m | €0.2m | €0.07m | €0.1m | €0.07m | €0.08m | €0.2m | €0.03m | ▼ 82.4% |
| Suppliers440/4 | - | - | - | €0.1m | €0.07m | €0.08m | €0.2m | €0.03m | ▼ 82.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.08m | €0.09m | €0.09m | €0.1m | ▲ 66.7% |
| Taxes450/3 | - | - | - | €0.002m | - | €0.008m | €98 | €0.02m | ▲ 24,868% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.08m | €0.08m | €0.09m | €0.1m | ▲ 38.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1.2m | €0.4m | €0.8m | €0.9m | €0.5m | ▼ 49.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,813 | €143,784 | €50,574 | -€113,101 | -€186,857 | €35,161 | €35,758 | €26,394 | ▼ 26.2% |
| + Depreciation and write-downs630 | €33,356 | €38,595 | €44,102 | €42,121 | €35,249 | €25,918 | €19,924 | €59,288 | ▲ 198% |
| Operating cash flow (approximation) | €36,169 | €182,379 | €94,676 | -€70,980 | -€151,608 | €61,079 | €55,682 | €85,682 | ▲ 53.9% |
| Investment in fixed assets (approximation) | - | -€12,957 | -€55,054 | -€31,773 | -€31,971 | €3,991 | -€53,745 | -€124,476 | ▼ 132% |
| Change in cash | - | -€72,448 | €295,747 | -€89,466 | -€135,540 | €469,098 | -€468,746 | €82,696 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 05-06-2026 | 2026-00139861 |
| 31-12-2024 | full format | 10-06-2025 | 2025-00131458 |
| 31-12-2023 | full format | 07-06-2024 | 2024-00115098 |
| 31-12-2022 | full format | 22-05-2024 | 2024-00092504 |
| 31-12-2021 | full format | 24-08-2022 | 2022-20319860 |
| 31-12-2020 | full format | 31-08-2021 | 2021-62300528 |
| 31-12-2019 | full format | 22-02-2021 | 2021-06000307 |
| 31-12-2018 | full format | 09-07-2019 | 2019-30700509 |
| 31-12-2017 | full format | 21-08-2018 | 2018-48900555 |
| 31-12-2016 | full format | 31-05-2017 | 2017-14700020 |
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Of the 53 active companies whose main activity is financial service activities, except insurance and pension funding (NACE 64929), figures are known for 39. 14 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 7 entries · €788,800 awarded · €751,160 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €200,000 | €225,080 |
| 2024 | 1 | €177,800 | €179,660 |
| 2023 | 2 | €200,000 | €346,420 |
| 2022 | 2 | €211,000 | €0 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.