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ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 3 filings
Turnover
≈ €400,000
Estimated: probably between €270,000 and €620,000
Total assets
€495,909▲ 34.0%
2024 · €370,107
Net result
€113,627▲ 131%
2024 · €49,268
Working capital
€92,639▲ 15×
2024 · €6,047
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€160,754
▲ 131%
2025
20232025
Net result
€113,627
▲ 131%
2025
20232025
Equity
€182,406
▲ 165%
2025
20232025
Total assets
€495,909
▲ 34.0%
2025
20232025
Debt
€313,502
▲ 4.0%
2025
20232025
Working capital
€92,639
▲ 15×
2025
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€22,200-€69,546▲ 213%€160,754▲ 131%
Net result€17,511-€49,268▲ 181%€113,627▲ 131%
Equity€19,511-€68,780▲ 253%€182,406▲ 165%
Total assets€28,411-€370,107▲ 13×€495,909▲ 34.0%
Debt€8,900-€301,327▲ 34×€313,502▲ 4.0%
Working capital€19,511-€6,047▼ 69.0%€92,639▲ 15×
The operating result for 2025 is 131% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The 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 €495,909
Fixed assets
€301,268 ▼ 0.2%
Current assets
€194,641 ▲ 186%
Equity and liabilities €495,909
Equity
€182,406 ▲ 165%
Debt
€313,502 ▲ 4.0%
Debt's share of the balance-sheet total falls from 81.4% to 63.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€161,427▲
2024 · €69,969
Cash flow
€114,300▲
2024 · €49,691
Current ratio
1.91▲
2024 · 1.10
Debt to equity
1.72▼
2024 · 4.38
ROE
62.3%▼
2024 · 71.6%
ROA
22.9%▲
2024 · 13.3%
Interest coverage
21.74▼
2024 · 47.46
Debt ≤ 1 year
€102,002▲
2024 · €62,119
Debt > 1 year
€211,500▼
2024 · €238,500
Income taxes
€41,407▲
2024 · €19,457
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €3,364 | - |
| Financial fixed assets | - | €299,000 | - |
| Depreciation and write-downs of the year | - | €423 | €673 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €423 | €673 | ▲ 59.1% |
| Gross operating margin9900 | €22,200 | €69,969 | €161,427 | ▲ 131% |
| Operating profit (loss)9901 | €22,200 | €69,546 | €160,754 | ▲ 131% |
| Financial income75/76B | - | €654 | €1,706 | ▲ 161% |
| Recurring financial income75 | - | €654 | €1,706 | ▲ 161% |
| Financial charges65/66B | - | €1,474 | €7,426 | ▲ 404% |
| Recurring financial charges65 | - | €1,474 | €7,426 | ▲ 404% |
| Profit (loss) for the period before taxes9903 | €22,200 | €68,725 | €155,034 | ▲ 126% |
| Income taxes67/77 | €4,689 | €19,457 | €41,407 | ▲ 113% |
| Profit (loss) for the period9904 | €17,511 | €49,268 | €113,627 | ▲ 131% |
| Profit (loss) for the period to be appropriated9905 | €17,511 | €49,268 | €113,627 | ▲ 131% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €28,411 | €370,107 | €495,909 | ▲ 34.0% |
| Fixed assets21/28 | - | €301,941 | €301,268 | ▼ 0.2% |
| Tangible fixed assets22/27 | - | €2,941 | €2,268 | ▼ 22.9% |
| Plant, machinery and equipment23 | - | €2,941 | €2,268 | ▼ 22.9% |
| Financial fixed assets28 | - | €299,000 | €299,000 | = |
| Current assets29/58 | €28,411 | €68,166 | €194,641 | ▲ 186% |
| Amounts receivable within one year40/41 | €26,411 | €24,769 | €79,311 | ▲ 220% |
| Trade receivables40 | €26,411 | €20,000 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €4,769 | €79,311 | ▲ 17× |
| Cash at bank and in hand54/58 | €2,000 | €39,397 | €115,082 | ▲ 192% |
| Deferred charges and accrued income490/1 | - | €4,000 | €248 | ▼ 93.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €28,411 | €370,107 | €495,909 | ▲ 34.0% |
| Equity10/15 | €19,511 | €68,780 | €182,406 | ▲ 165% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €17,511 | €66,780 | €180,406 | ▲ 170% |
| Amounts payable17/49 | €8,900 | €301,327 | €313,502 | ▲ 4.0% |
| Amounts payable after more than one year17 | - | €238,500 | €211,500 | ▼ 11.3% |
| Financial debts170/4 | - | €238,500 | €211,500 | ▼ 11.3% |
| Amounts payable within one year42/48 | €8,900 | €62,119 | €102,002 | ▲ 64.2% |
| Current portion of amounts payable after more than one year42 | - | €29,250 | €29,250 | = |
| Trade debts44 | - | €4,795 | €4,429 | ▼ 7.6% |
| Suppliers440/4 | - | €4,795 | €4,429 | ▼ 7.6% |
| Taxes, remuneration and social security45 | €4,689 | €28,074 | €68,323 | ▲ 143% |
| Taxes450/3 | €4,689 | €26,096 | €65,973 | ▲ 153% |
| Remuneration and social security454/9 | - | €1,978 | €2,350 | ▲ 18.8% |
| Other amounts payable47/48 | €4,211 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €708 | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,511 | €49,268 | €113,627 | ▲ 131% |
| + Depreciation and write-downs630 | - | €423 | €673 | ▲ 59.1% |
| Operating cash flow (approximation) | €17,511 | €49,691 | €114,300 | ▲ 130% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | €37,397 | €75,685 | ▲ 102% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.