Net Circular
Annual accounts 2025
full format, filed on 29-04-2026, 93 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €400,000. Estimated: probably between €320,000 and €520,000.
Balance sheet
balance sheet total €191,365 on 31-12-2025in euro
in euro
Position in the sector
55.7%
Higher than 52% of 3,873 companies in 2025.
2.21
Higher than 64% of 3,727 companies in 2025.
0.3%
Higher than 31% of 3,849 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff
€86,680
Staff costs divided by the average number of full-time equivalents.
+2 people
In 2025, 2 people joined and nobody left. Training hours in 2025: 165.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
191,365 | 160,947 | |
21/28 |
7,819 | 11,527 | |
21 |
6,792 | 11,467 | |
22/27 |
967 | - | |
24 |
967 | - | |
28 |
60 | 60 | |
29/58 |
183,546 | 149,420 | |
40/41 |
123,680 | 103,807 | |
40 |
121,426 | 100,623 | |
41 |
2,255 | 3,184 | |
54/58 |
57,618 | 42,942 | |
490/1 |
2,248 | 2,672 | |
| Balance sheet: equity and liabilities | |||
10/49 |
191,365 | 160,947 | |
10/15 |
106,666 | 106,091 | |
10/11 |
100,000 | 100,000 | |
10 |
100,000 | 100,000 | |
100 |
100,000 | 100,000 | |
13 |
6,333 | 5,305 | |
130/1 |
333 | 305 | |
130 |
333 | 305 | |
133 |
6,000 | 5,000 | |
14 |
333 | 786 | |
17/49 |
84,699 | 54,857 | |
42/48 |
82,953 | 45,025 | |
43 |
349 | - | |
430/8 |
349 | - | |
44 |
27,471 | 38,617 | |
440/4 |
27,471 | 38,617 | |
45 |
43,589 | 6,408 | |
450/3 |
9,150 | 4,456 | |
454/9 |
34,439 | 1,952 | |
47/48 |
11,544 | - | |
492/3 |
1,746 | 9,832 | |
| Income statement | |||
76A |
131 | 260 | |
9900 |
248,400 | 50,629 | |
62 |
234,037 | 37,244 | |
630 |
4,830 | 2,558 | |
640/8 |
505 | 393 | |
66A |
2,253 | - | |
9901 |
6,775 | 10,434 | |
75/76B |
20 | 1 | |
75 |
20 | 1 | |
65/66B |
3,849 | 1,659 | |
65 |
3,849 | 1,659 | |
9903 |
2,946 | 8,776 | |
67/77 |
2,370 | 2,685 | |
9904 |
575 | 6,091 | |
9905 |
575 | 6,091 | |
| Appropriation of the result | |||
9906 |
1,362 | 6,091 | |
14P |
786 | - | |
691/2 |
1,029 | 5,305 | |
6920 |
29 | 305 | |
6921 |
1,000 | 5,000 | |
| Social balance sheet | |||
9087 |
2.7 | 0.4 | |
Hours worked1013 |
4,720 | 768 | |
| Document | |||
The notes to these accounts have 16 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 29-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 11,604 | 12,992 | ||
| 5,405 | 8,649 | ||
| 1,122 | 14,085 | ||
| 14,676 | - | ||
| 100,593 | 104,395 | ||
| 55.7% | 65.9% | ||
| 2.21 | 3.32 | ||
| 0.79 | 0.52 | ||
| 0.5% | 5.7% | ||
| 0.3% | 3.8% | ||
| 3.01 | 7.83 |
EBIT margin: not included in this filing.
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 1 |
| full-time | 3 | 1 |
| part-time | 0 | 0 |
| in full-time equivalents | 3 | 1 |
| 2.7 | 0.4 | |
| On a permanent contract | 3 | 1 |
| Joined | 2 | 2 |
| Left | 0 | 1 |
| Training hours | 165 | - |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €1,122 | - |
| Intangible fixed assets | - | €14,025 |
| Financial fixed assets | €0 | €60 |
| €4,830 | €2,558 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on Net Circular
The operating result for 2025 is 35% lower than in 2024.
Debt's share of the balance-sheet total rises from 34.1% to 44.3%. Equity and debt are higher.