MORPHO
InactiveFinancials · financial year 2025, full format
2025 annual accounts filed late (28 days) Filed on 10 July 2026, deadline 12 June 2026 (7 months after the close on 12 November 2025, Companies Code art. 3:10). Source: NBB, 2026-00279998.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,735
2024 · €4,190
Working capital
€4▼ 100.0%
2024 · €786,210
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €10,344 in 2025 against €10,759 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.01m
2025
Net result-€0.003m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.6m
2025
Equity€0
2025
Debt€0.6m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€4
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.009m▼ 71.5%€0.01m▲ 37.7%€0.003m▼ 76.0%-€0.006m-€0.009m▼ 70.8%-€0.01m▼ 13.5%-€0.01m▲ 3.9%
Net result€0.02m-€0.006m▼ 69.5%€0.01m▲ 49.9%€0.002m▼ 81.9%-€0.2m€0.4m€0.004m▼ 98.9%-€0.003m
Equity€1.2m-€1.2m▲ 0.6%€1.2m▲ 0.8%€1.2m▲ 0.1%€0.4m▼ 62.9%€0.8m▲ 80.3%€0.8m▲ 0.5%€0▼ 100%
Total assets€1.2m-€1.2m▼ 0.1%€1.4m▲ 12.6%€1.2m▼ 11.1%€0.8m▼ 35.2%€0.9m▲ 10.2%€0.8m▼ 4.5%€0.6m▼ 31.6%
Debt€0.06m-€0.05m▼ 12.4%€0.2m▲ 268%€0.04m▼ 77.9%€0.4m▲ 710%€0.08m▼ 76.1%€0.04m▼ 51.5%€0.6m▲ 1,280%
Working capital€0.2m-€0.2m▲ 3.4%€0.2m▲ 4.8%€0.2m▲ 0.8%€0.4m▲ 97.7%€0.8m▲ 80.6%€0.8m▲ 0.5%€4▼ 100.0%
Staff (FTE)0000
Key figures and ratios
EBITDA
-€10,344▲
2024 · -€10,688
Cash flow
-€2,735▼
2024 · €4,261
Solvency
0.0%▼
2024 · 95.0%
Current ratio
1.00▼
2024 · 20.16
ROA
-0.5%▼
2024 · 0.5%
Interest coverage
-268.67▼
2024 · -254.47
Debt ≤ 1 year
€566,182▲
2024 · €41,031
Income taxes
€0▼
2024 · €410
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €325 | €325 | €325 | - | €30 | €71 | €71 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €1,088 | €1,088 | €1,180 | €607 | €0 | ▼ 100% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €539 | - |
| Gross operating margin9900 | €34,825 | €10,876 | €14,220 | €4,211 | -€4,432 | -€8,227 | -€10,081 | -€9,804 | ▲ 2.7% |
| Operating profit (loss)9901 | €33,192 | €9,463 | €13,027 | €3,123 | -€5,550 | -€9,478 | -€10,759 | -€10,344 | ▲ 3.9% |
| Financial income75/76B | - | - | - | - | - | €442,400 | €15,401 | €7,648 | ▼ 50.3% |
| Recurring financial income75 | - | - | - | - | - | €442,400 | €8,949 | €7,648 | ▼ 14.5% |
| Non-recurring financial income76B | - | - | - | - | - | €442,400 | €6,452 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €21 | €235,788 | €47 | €42 | €39 | ▼ 8.3% |
| Recurring financial charges65 | €831 | €314 | €124 | €21 | €35 | €47 | €42 | €39 | ▼ 8.3% |
| Non-recurring financial charges66B | - | - | - | - | €235,753 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €32,361 | €9,149 | €12,903 | €3,101 | -€241,338 | €432,875 | €4,600 | -€2,735 | - |
| Income taxes67/77 | €11,273 | €2,710 | €3,250 | €1,358 | €493 | €39,263 | €410 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €21,088 | €6,439 | €9,653 | €1,744 | -€241,831 | €393,612 | €4,190 | -€2,735 | - |
| Profit (loss) for the period to be appropriated9905 | €21,088 | €6,439 | €9,653 | €1,744 | -€241,831 | €393,612 | €4,190 | -€2,735 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.2m | €1.4m | €1.2m | €0.8m | €0.9m | €0.8m | €0.6m | ▼ 31.6% |
| Fixed assets21/28 | €1.0m | €1.0m | €1.0m | €1.0m | €0.001m | €0.001m | €0.001m | €0 | ▼ 100% |
| Intangible fixed assets21 | €0.001m | €325 | - | - | €0.001m | €0.001m | €0.001m | €0 | ▼ 100% |
| Financial fixed assets28 | €1.0m | €1.0m | €1.0m | €1.0m | €196 | €0 | - | - | - |
| Current assets29/58 | €0.3m | €0.3m | €0.4m | €0.3m | €0.8m | €0.9m | €0.8m | €0.6m | ▼ 31.6% |
| Amounts receivable within one year40/41 | €0.04m | €0.04m | €0.2m | €0.04m | €0.3m | €0.3m | €0.001m | €0.008m | ▲ 403% |
| Trade receivables40 | - | - | - | €0.04m | €0 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €9 | €0.3m | €0.3m | €0.001m | €0.008m | ▲ 403% |
| Current investments50/53 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.8m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.007m | €0.004m | €0.001m | €0.005m | €0.3m | €0.2m | €0.05m | €0.6m | ▲ 966% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.2m | €0.009m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.4m | €1.2m | €0.8m | €0.9m | €0.8m | €0.6m | ▼ 31.6% |
| Equity10/15 | €1.2m | €1.2m | €1.2m | €1.2m | €0.4m | €0.8m | €0.8m | €0 | ▼ 100% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | €0.6m | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0 | ▼ 100% |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0 | ▼ 100% |
| Own shares acquired1312 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | - | - | €0.4m | €0.4m | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €0.8m | €0.8m | €0.8m | €0.8m | €0.1m | €0.06m | €0.06m | €0 | ▼ 100% |
| Amounts payable17/49 | €0.06m | €0.05m | €0.2m | €0.04m | €0.4m | €0.08m | €0.04m | €0.6m | ▲ 1,280% |
| Amounts payable within one year42/48 | €0.06m | €0.05m | €0.2m | €0.04m | €0.4m | €0.08m | €0.04m | €0.6m | ▲ 1,280% |
| Trade debts44 | €0.04m | €0.04m | €0.2m | €0.04m | €0.001m | €180 | €0.001m | €0.001m | ▼ 8.4% |
| Suppliers440/4 | - | - | - | €0.04m | €0.001m | €180 | €0.001m | €0.001m | ▼ 8.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.005m | €0.002m | €0.04m | €0.04m | €403 | ▼ 99.0% |
| Taxes450/3 | - | - | - | €0.005m | €0.002m | €0.04m | €0.04m | €403 | ▼ 99.0% |
| Other amounts payable47/48 | - | - | - | - | €0.4m | €0.05m | €0 | €0.6m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €4 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,088 | €6,439 | €9,653 | €1,744 | -€241,831 | €393,612 | €4,190 | -€2,735 | - |
| + Depreciation and write-downs630 | €325 | €325 | €325 | - | €30 | €71 | €71 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €21,413 | €6,764 | €9,978 | €1,744 | -€241,801 | €393,683 | €4,261 | -€2,735 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €950,331 | €196 | €0 | €539 | - |
| Change in cash | - | -€2,612 | -€2,889 | €3,051 | €298,607 | -€108,479 | -€142,226 | €506,247 | - |
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 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 12-11-2025 | full format | 10-07-2026 | 2026-00279998 |
| 31-12-2024 | full format | 05-08-2025 | 2025-00370153 |
| 31-12-2023 | full format | 30-08-2024 | 2024-00404247 |
| 31-12-2022 | full format | 16-08-2023 | 2023-00329597 |
| 31-12-2021 | full format | 04-08-2022 | 2022-20268445 |
| 31-12-2020 | full format | 28-06-2021 | 2021-24800583 |
| 31-12-2019 | full format | 24-07-2020 | 2020-33100037 |
| 31-12-2018 | full format | 16-07-2019 | 2019-32800077 |
| 31-12-2017 | full format | 31-07-2018 | 2018-40100133 |
| 31-12-2016 | full format | 07-07-2017 | 2017-27900383 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.