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ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 07-05-2026 PDF all 13 filings
Turnover
≈ €110,000
Estimated: probably between €90,000 and €150,000
Total assets
€1.6m▼ 0.9%
2024 · €1.7m
Net result
€26,241▲ 345%
2024 · €5,890
Working capital
-€500,091▲ 9.3%
2024 · -€551,183
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€51,928
▲ 130%
2025
20182025
Net result
€26,241
▲ 345%
2025
middle half of the sector
20182025
Equity
€1.0m
▲ 2.6%
2025
highest quarter of the sector
20182025
Total assets
€1.6m
▼ 0.9%
2025
middle half of the sector
20182025
Debt
€602,794
▼ 6.5%
2025
20182025
Working capital
-€500,091
▲ 9.3%
2025
lowest quarter of the sector
20182025
Solvency
63.4%
▲ 2.2pp
2025
middle half of the sector
20182025
Current ratio
0.08
▼ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
1.6%
▲ 1.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.3m--€0.3m▲ 4.9%-€0.3m▼ 10.0%-€0.2m▲ 35.0%€0.02m€0.02m▼ 18.8%€0.02m▲ 20.9%€0.05m▲ 130%
Net result-€0.4m--€0.3m▲ 7.7%-€0.4mbelow the sector's middle half▼ 8.8%-€0.2mbelow the sector's middle half▲ 34.0%€0.007mwithin the sector's middle half€0.003mwithin the sector's middle half▼ 49.9%€0.006mwithin the sector's middle half▲ 70.7%€0.03mwithin the sector's middle half▲ 345%
Equity€2.0m-€1.6m▼ 17.5%€1.2mabove the sector's middle half▼ 23.1%€1.0mwithin the sector's middle half▼ 19.8%€1.0mabove the sector's middle half▲ 0.7%€1.0mabove the sector's middle half▲ 0.3%€1.0mwithin the sector's middle half▲ 0.6%€1.0mabove the sector's middle half▲ 2.6%
Total assets€2.7m-€2.3m▼ 14.2%€1.9mwithin the sector's middle half▼ 17.0%€1.7mwithin the sector's middle half▼ 14.1%€1.6mabove the sector's middle half▼ 1.1%€1.6mabove the sector's middle half=€1.7mwithin the sector's middle half▲ 0.8%€1.6mwithin the sector's middle half▼ 0.9%
Debt€0.8m-€0.7m▼ 5.8%€0.7m▼ 3.2%€0.7m▼ 3.7%€0.6m▼ 3.8%€0.6m▼ 0.6%€0.6m▲ 1.1%€0.6m▼ 6.5%
Working capital-€0.5m--€0.5m▼ 6.3%-€0.5mbelow the sector's middle half▲ 0.2%-€0.5mbelow the sector's middle half▲ 2.2%-€0.5mbelow the sector's middle half▲ 4.8%-€0.5mbelow the sector's middle half▼ 1.0%-€0.6mbelow the sector's middle half▼ 7.5%-€0.5mbelow the sector's middle half▲ 9.3%
Solvency72.2%-69.4%▼ 2.7pp64.4%within the sector's middle half▼ 5.1pp60.1%within the sector's middle half▼ 4.3pp61.1%within the sector's middle half▲ 1.1pp61.4%within the sector's middle half▲ 0.2pp61.2%within the sector's middle half▼ 0.1pp63.4%within the sector's middle half▲ 2.2pp
Current ratio0.05-0.07▲ 0.020.07below the sector's middle half▲ 0.010.08below the sector's middle half▲ 0.010.09below the sector's middle half▲ 0.010.08below the sector's middle half▼ 0.010.10below the sector's middle half▲ 0.010.08below the sector's middle half▼ 0.01
Return on assets (ROA)-13.7%--14.7%▼ 1.0pp-19.3%below the sector's middle half▼ 4.6pp-14.8%below the sector's middle half▲ 4.5pp0.4%within the sector's middle half▲ 15.3pp0.2%within the sector's middle half▼ 0.2pp0.4%within the sector's middle half▲ 0.1pp1.6%within the sector's middle half▲ 1.2pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 2025 is 130% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.6m ▼ 0.2%
Current assets
€45,750 ▼ 21.4%
Equity and liabilities €1.6m
Equity
€1.0m ▲ 2.6%
Debt
€602,794 ▼ 6.5%
Debt's share of the balance-sheet total falls from 38.8% to 36.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€54,876▲
2024 · €25,174
Cash flow
€29,189▲
2024 · €8,468
Debt to equity
0.58▼
2024 · 0.63
ROE
2.5%▲
2024 · 0.6%
Interest coverage
3.00▲
2024 · 1.72
Debt ≤ 1 year
€545,841▼
2024 · €609,391
Debt > 1 year
€40,000
Income taxes
€7,389▲
2024 · €2,066
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €26,689 | - | €6,160 | €3,781 | - |
| Financial fixed assets | - | - | €0 | - | - |
| Depreciation and write-downs of the year | €303,075 | €603 | €1,037 | €2,577 | €2,948 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €401,245 | €401,636 | €401,636 | €303,075 | €603 | €1,037 | €2,577 | €2,948 | ▲ 14.4% |
| Other operating charges640/8 | - | - | - | €1,359 | €1,174 | €1,156 | €1,172 | €1,143 | ▼ 2.5% |
| Non-recurring operating charges66A | - | - | - | - | €1,128 | €0 | - | - | - |
| Gross operating margin9900 | €68,713 | €85,426 | €53,550 | €77,221 | €25,923 | €20,884 | €26,346 | €56,018 | ▲ 113% |
| Operating profit (loss)9901 | -€334,119 | -€317,727 | -€349,461 | -€227,213 | €23,017 | €18,691 | €22,597 | €51,928 | ▲ 130% |
| Financial income75/76B | - | - | - | - | - | - | - | €1 | - |
| Recurring financial income75 | €0 | €2 | €0 | - | - | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €4,345 | €13,721 | €13,863 | €14,641 | €18,299 | ▲ 25.0% |
| Recurring financial charges65 | €38,830 | €17,182 | €15,054 | €4,345 | €13,721 | €13,863 | €14,641 | €18,299 | ▲ 25.0% |
| Profit (loss) for the period before taxes9903 | -€372,949 | -€334,907 | -€364,515 | -€231,557 | €9,297 | €4,829 | €7,956 | €33,630 | ▲ 323% |
| Income taxes67/77 | €324 | €9,564 | €10,370 | €15,905 | €2,405 | €1,378 | €2,066 | €7,389 | ▲ 258% |
| Profit (loss) for the period9904 | -€373,273 | -€344,471 | -€374,885 | -€247,463 | €6,891 | €3,451 | €5,890 | €26,241 | ▲ 345% |
| Profit (loss) for the period to be appropriated9905 | -€373,273 | -€344,471 | -€374,885 | -€247,463 | €6,891 | €3,451 | €5,890 | €26,241 | ▲ 345% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.7m | €2.3m | €1.9m | €1.7m | €1.6m | €1.6m | €1.7m | €1.6m | ▼ 0.9% |
| Fixed assets21/28 | €2.7m | €2.3m | €1.9m | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | ▼ 0.2% |
| Intangible fixed assets21 | €1.1m | €0.7m | €0.3m | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.002m | €0.002m | €391 | €0.02m | €0.001m | €0.006m | €0.007m | €0.005m | ▼ 39.4% |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.001m | €0.006m | €0.007m | €0.005m | ▼ 39.4% |
| Financial fixed assets28 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Current assets29/58 | €0.03m | €0.04m | €0.04m | €0.05m | €0.05m | €0.05m | €0.06m | €0.05m | ▼ 21.4% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 11.9% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 11.9% |
| Other amounts receivable41 | - | - | - | €0 | - | - | €4 | - | - |
| Cash at bank and in hand54/58 | €0.007m | €0.006m | €0.01m | €0.009m | €0.01m | €0.005m | €0.02m | €0.02m | ▲ 30.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.003m | ▼ 81.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.7m | €2.3m | €1.9m | €1.7m | €1.6m | €1.6m | €1.7m | €1.6m | ▼ 0.9% |
| Equity10/15 | €2.0m | €1.6m | €1.2m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | ▲ 2.6% |
| Contributions10/11 | €1.8m | €1.8m | - | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Reserves13 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | - | - |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Own shares acquired1312 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Distributable reserves133 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | - | - |
| Profit (loss) carried forward14 | -€0.8m | -€1.2m | -€1.5m | -€1.8m | -€1.8m | -€1.8m | -€1.8m | -€0.7m | ▲ 60.3% |
| Amounts payable17/49 | €0.8m | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 6.5% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.09m | €0.07m | €0.06m | €0.06m | - | €0.04m | - |
| Financial debts170/4 | - | - | - | €0.07m | €0.06m | €0.06m | - | €0.04m | - |
| Amounts payable within one year42/48 | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 10.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.006m | €0.006m | €0.06m | €0.01m | ▼ 82.3% |
| Trade debts44 | €0.002m | €0.002m | €0.001m | €0.001m | €0.001m | €0.005m | €0.008m | €0.003m | ▼ 58.8% |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €0.005m | €0.008m | €0.003m | ▼ 58.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.02m | €0.008m | €0.007m | €0.02m | ▲ 192% |
| Taxes450/3 | - | - | - | €0.03m | €0.02m | €0.008m | €0.007m | €0.02m | ▲ 131% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | €0.02m | €0.02m | €0.04m | €0.02m | ▼ 51.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€373,273 | -€344,471 | -€374,885 | -€247,463 | €6,891 | €3,451 | €5,890 | €26,241 | ▲ 345% |
| + Depreciation and write-downs630 | €401,245 | €401,636 | €401,636 | €303,075 | €603 | €1,037 | €2,577 | €2,948 | ▲ 14.4% |
| Operating cash flow (approximation) | €27,972 | €57,165 | €26,751 | €55,612 | €7,495 | €4,488 | €8,468 | €29,189 | ▲ 245% |
| Investment in fixed assets (approximation) | - | -€1,248 | €0 | -€26,689 | €22,616 | -€6,160 | -€3,406 | €0 | - |
| Change in cash | - | -€1,025 | €7,964 | -€5,463 | €3,094 | -€6,493 | €10,336 | €4,819 | ▼ 53.4% |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 07-05-2026 | 2026-00106805 | |
| 31-12-2024 | abbreviated format | 24-07-2025 | 2025-00311065 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00397532 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00182773 | |
| 31-12-2021 | abbreviated format | 24-08-2022 | 2022-20311918 | |
| 31-12-2020 | abbreviated format | 25-08-2021 | 2021-53200419 | |
| 31-12-2019 | abbreviated format | 26-08-2020 | 2020-44700470 | |
| 31-12-2018 | abbreviated format | 26-08-2019 | 2019-51300309 | |
| 31-12-2017 | abbreviated format | 01-08-2018 | 2018-42500149 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-53500555 |