MODEL DECO
InactiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 02-10-2026 at the NBB all 24 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€11,575
2025 · €51,461
Working capital
€0▼ 100%
2025 · €151,888
Multi-year overview
2018 to 2026, 9 financial yearsOperating result
-€11,105
2026
20182026
Net result
-€11,575
2026
20182026
Equity
€0
▼ 100%
2026
20182026
Total assets
€136,367
▼ 11.2%
2026
20182026
Debt
€136,367
▲ 80×
2026
20182026
Working capital
€0
▼ 100%
2026
20182026
Staff (FTE)
0
▼ 100%
2026
20182026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023202420252026
Operating result€47,501-€42,617▼ 10.3%€11,373▼ 73.3%€1,985▼ 82.6%-€28,859€9,154-€45,678€54,350-€11,105
Net result€31,134-€26,196▼ 15.9%€6,795▼ 74.1%€126▼ 98.1%-€30,219€7,890-€46,815€51,461-€11,575
Equity€136,453-€162,649▲ 19.2%€169,444▲ 4.2%€169,570▲ 0.1%€139,352▼ 17.8%€147,242▲ 5.7%€100,427▼ 31.8%€151,888▲ 51.2%€0▼ 100%
Total assets€436,875-€417,547▼ 4.4%€379,738▼ 9.1%€304,860▼ 19.7%€271,646▼ 10.9%€175,403▼ 35.4%€110,102▼ 37.2%€153,589▲ 39.5%€136,367▼ 11.2%
Debt€300,422-€254,898▼ 15.2%€210,294▼ 17.5%€135,290▼ 35.7%€132,294▼ 2.2%€28,161▼ 78.7%€9,675▼ 65.6%€1,701▼ 82.4%€136,367▲ 80×
Working capital€88,670-€150,597▲ 69.8%€156,494▲ 3.9%€147,358▼ 5.8%€123,072▼ 16.5%€143,985▲ 17.0%€100,427▼ 30.3%€151,888▲ 51.2%€0▼ 100%
Staff (FTE)6.1-7.3▲ 19.7%6.8▼ 6.8%5.9▼ 13.2%4.6▼ 22.0%2▼ 56.5%1.6▼ 20.0%1▼ 37.5%0▼ 100%
The operating result for 2026 is a loss of €11,105, after a profit of €54,350 in 2025.
Key figures and ratios
Solvency
0.0%▼
2025 · 98.9%
Current ratio
1.00▼
2025 · 90.30
ROA
-8.5%▼
2025 · 33.5%
Debt ≤ 1 year
€136,367▲
2025 · €1,701
Staff costs
€285▼
2025 · €766
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 1 |
| full-time | 5 | 4 | 1 |
| part-time | - | - | 0 |
| in full-time equivalents | 5 | 4 | 1 |
| Average over the year, in full-time equivalents | 5.9 | 4.6 | 1.6 |
| On a permanent contract | 5 | 4 | 1 |
| Joined | 0 | 0 | 0 |
| Left | 1 | 1 | 1 |
| Training hours | 77 | 77 | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €153,045 | €153,028 | €64,627 | €26,098 | €766 | €285 | ▼ 62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,930 | €50,406 | €20,930 | €22,698 | €21,293 | €8,399 | €3,257 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €2,121 | €1,685 | €3,477 | €832 | €5,726 | €148 | ▼ 97.4% |
| Gross operating margin9900 | €341,764 | €357,651 | €225,275 | €179,849 | €147,148 | €85,657 | -€15,490 | €60,843 | -€10,672 | - |
| Operating profit (loss)9901 | €47,501 | €42,617 | €11,373 | €1,985 | -€28,859 | €9,154 | -€45,678 | €54,350 | -€11,105 | - |
| Financial income75/76B | - | - | - | €249 | €76 | €1 | €407 | €2,504 | €32 | ▼ 98.7% |
| Recurring financial income75 | - | - | €5 | €249 | €76 | €1 | €407 | €2,504 | €32 | ▼ 98.7% |
| Financial charges65/66B | - | - | - | €1,881 | €1,198 | €1,243 | €1,544 | €5,393 | €503 | ▼ 90.7% |
| Recurring financial charges65 | €1,899 | €1,941 | €1,444 | €1,881 | €1,198 | €1,243 | €1,544 | €5,393 | €503 | ▼ 90.7% |
| Profit (loss) for the period before taxes9903 | €45,602 | €40,676 | €9,934 | €353 | -€29,981 | €7,912 | -€46,815 | €51,461 | -€11,575 | - |
| Income taxes67/77 | €14,468 | €14,480 | €3,139 | €227 | €238 | €22 | €0 | - | - | - |
| Profit (loss) for the period9904 | €31,134 | €26,196 | €6,795 | €126 | -€30,219 | €7,890 | -€46,815 | €51,461 | -€11,575 | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | - | - | €18,750 | - |
| Profit (loss) for the period to be appropriated9905 | €31,134 | €26,196 | €6,795 | €126 | -€30,219 | €7,890 | -€46,815 | €51,461 | €7,175 | ▼ 86.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Total assets20/58 | €436,875 | €417,547 | €379,738 | €304,860 | €271,646 | €175,403 | €110,102 | €153,589 | €136,367 | ▼ 11.2% |
| Fixed assets21/28 | €70,494 | €39,766 | €20,207 | €42,710 | €21,417 | €3,257 | €0 | - | - | - |
| Tangible fixed assets22/27 | €70,389 | €39,661 | €20,101 | €42,605 | €21,311 | €3,257 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €42,605 | €21,311 | €3,257 | €0 | - | - | - |
| Financial fixed assets28 | €105 | €105 | €105 | €105 | €105 | €0 | - | - | - | - |
| Current assets29/58 | €366,381 | €377,781 | €359,531 | €262,150 | €250,229 | €172,146 | €110,102 | €153,589 | €136,367 | ▼ 11.2% |
| Amounts receivable within one year40/41 | €177,377 | €191,265 | €143,441 | €76,673 | €208,355 | €161,928 | €99,197 | €151,936 | €136,365 | ▼ 10.2% |
| Trade receivables40 | - | - | - | €76,497 | €208,174 | €161,592 | €1,746 | €70,723 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €177 | €180 | €336 | €97,451 | €81,213 | €136,365 | ▲ 67.9% |
| Cash at bank and in hand54/58 | €188,822 | €186,357 | €215,926 | €184,888 | €41,413 | €7,743 | €9,177 | €1,653 | €2 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | - | - | - | €588 | €462 | €2,474 | €1,728 | €0 | - | - |
| Equity and liabilities | ||||||||||
| Total equity and liabilities10/49 | €436,875 | €417,547 | €379,738 | €304,860 | €271,646 | €175,403 | €110,102 | €153,589 | €136,367 | ▼ 11.2% |
| Equity10/15 | €136,453 | €162,649 | €169,444 | €169,570 | €139,352 | €147,242 | €100,427 | €151,888 | €0 | ▼ 100% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €0 | ▼ 100% |
| Reserves13 | €20,778 | €20,778 | €20,778 | €20,778 | €20,778 | €20,778 | €20,778 | €20,778 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €2,028 | €2,028 | €2,028 | €2,028 | €2,028 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €2,028 | €2,028 | €2,028 | €2,028 | €2,028 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €97,075 | €123,271 | €130,066 | €130,192 | €99,974 | €107,864 | €61,049 | €112,510 | €0 | ▼ 100% |
| Amounts payable17/49 | €300,422 | €254,898 | €210,294 | €135,290 | €132,294 | €28,161 | €9,675 | €1,701 | €136,367 | ▲ 80× |
| Amounts payable after more than one year17 | €22,711 | €27,714 | €7,257 | €20,316 | €5,113 | €0 | - | - | - | - |
| Financial debts170/4 | - | - | - | €20,316 | €5,113 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €277,711 | €227,184 | €203,037 | €114,791 | €127,157 | €28,161 | €9,675 | €1,701 | €136,367 | ▲ 80× |
| Current portion of amounts payable after more than one year42 | - | - | - | €22,256 | €15,202 | €5,113 | €0 | - | - | - |
| Trade debts44 | €183,272 | €171,071 | €168,377 | €63,938 | €76,757 | €8,067 | €7,610 | €1,701 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €63,938 | €76,757 | €8,067 | €7,610 | €1,701 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €28,597 | €35,198 | €11,201 | €2,065 | €0 | - | - |
| Taxes450/3 | - | - | - | €12,441 | €16,363 | €4,820 | €22 | €0 | - | - |
| Remuneration and social security454/9 | - | - | - | €16,156 | €18,834 | €6,381 | €2,043 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €3,780 | €0 | - | €136,367 | - |
| Accrued charges and deferred income492/3 | - | - | - | €183 | €24 | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,134 | €26,196 | €6,795 | €126 | -€30,219 | €7,890 | -€46,815 | €51,461 | -€11,575 | - |
| + Depreciation and write-downs630 | €51,930 | €50,406 | €20,930 | €22,698 | €21,293 | €8,399 | €3,257 | €0 | - | - |
| Operating cash flow (approximation) | €83,064 | €76,602 | €27,726 | €22,825 | -€8,925 | €16,289 | -€43,558 | €51,461 | -€11,575 | - |
| Investment in fixed assets (approximation) | - | -€19,678 | -€1,371 | -€45,202 | €0 | €9,760 | €0 | - | - | - |
| Change in cash | - | -€2,465 | €29,569 | -€31,038 | -€143,475 | -€33,670 | €1,434 | -€7,524 | -€1,650 | ▲ 78.1% |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 23-06-2026 | abbreviated format | 02-10-2026 | 2026-00543620 | |
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00204550 | |
| 31-12-2024 | abbreviated format | 02-09-2025 | 2025-00474574 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00417461 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00275449 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20397243 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-62600387 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-65800230 | |
| 31-12-2018 | micro format | 31-08-2019 | 2019-61800548 | |
| 31-12-2017 | micro format | 23-08-2018 | 2018-49300364 |