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InactiveFinancials · financial year 2025, micro format
2025 annual accounts filed late (43 days) Filed on 16 March 2026, deadline 1 February 2026 (7 months after the close on 1 July 2025, Companies Code art. 3:10). Source: NBB, 2026-00054629.
Equity
€202,734▲ 6.7%
2024 · €189,969
Total assets
€246,524▼ 0.9%
2024 · €248,773
Net result
€12,765▲ 60.1%
2024 · €7,972
Working capital
€174,051▲ 6.5%
2024 · €163,491
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 27% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€7,925
2025
Net result€12,765
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€246,524
2025
Equity€202,734
2025
Debt€43,790
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€174,051
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
Line2019202020212022202320242025
Operating result€35,646-€53,807▲ 50.9%€27,963▼ 48.0%€31,537▲ 12.8%€17,906▼ 43.2%€6,252▼ 65.1%€7,925▲ 26.8%
Net result€30,303-€43,207▲ 42.6%€25,394▼ 41.2%€27,340▲ 7.7%€16,884▼ 38.2%€7,972▼ 52.8%€12,765▲ 60.1%
Equity€97,590-€140,797▲ 44.3%€166,191▲ 18.0%€193,531▲ 16.5%€200,178▲ 3.4%€189,969▼ 5.1%€202,734▲ 6.7%
Total assets€166,115-€188,167▲ 13.3%€204,724▲ 8.8%€227,414▲ 11.1%€243,173▲ 6.9%€248,773▲ 2.3%€246,524▼ 0.9%
Debt€68,525-€47,370▼ 30.9%€38,533▼ 18.7%€33,883▼ 12.1%€42,995▲ 26.9%€58,803▲ 36.8%€43,790▼ 25.5%
Working capital€85,540-€128,959▲ 50.8%€135,173▲ 4.8%€165,081▲ 22.1%€172,319▲ 4.4%€163,491▼ 5.1%€174,051▲ 6.5%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €246,524
Fixed assets
€33,272 ▼ 8.2%
Current assets
€213,252 ▲ 0.3%
Equity and liabilities €246,524
Equity
€202,734 ▲ 6.7%
Debt
€43,790 ▼ 25.5%
Debt's share of the balance-sheet total falls from 23.6% to 17.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12,772▼
2024 · €15,879
Cash flow
€17,613▲
2024 · €17,599
Current ratio
5.44▲
2024 · 4.34
Debt to equity
0.22▼
2024 · 0.31
ROE
6.3%▲
2024 · 4.2%
ROA
5.2%▲
2024 · 3.2%
Interest coverage
8.33▼
2024 · 8.82
Debt ≤ 1 year
€39,202▼
2024 · €49,019
Debt > 1 year
€4,588▼
2024 · €9,784
Income taxes
€6,866▲
2024 · €5,282
Staff costs
€636
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €458 | - | €636 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,215 | €10,035 | €10,507 | €7,844 | €8,612 | €9,627 | €4,847 | ▼ 49.6% |
| Other operating charges640/8 | - | - | - | €890 | €659 | €561 | €862 | ▲ 53.5% |
| Gross operating margin9900 | €47,152 | €65,096 | €39,123 | €40,271 | €27,636 | €16,440 | €14,270 | ▼ 13.2% |
| Operating profit (loss)9901 | €35,646 | €53,807 | €27,963 | €31,537 | €17,906 | €6,252 | €7,925 | ▲ 26.8% |
| Financial income75/76B | - | - | - | €9,323 | €9,843 | €8,803 | €13,239 | ▲ 50.4% |
| Recurring financial income75 | €8,124 | €10,487 | €11,392 | €9,323 | €9,843 | €8,803 | €8,689 | ▼ 1.3% |
| Non-recurring financial income76B | - | - | - | - | - | - | €4,550 | - |
| Financial charges65/66B | - | - | - | €462 | €1,771 | €1,801 | €1,532 | ▼ 14.9% |
| Recurring financial charges65 | €1,892 | €2,505 | €669 | €462 | €1,771 | €1,801 | €1,532 | ▼ 14.9% |
| Profit (loss) for the period before taxes9903 | €41,878 | €61,790 | €38,686 | €40,398 | €25,978 | €13,254 | €19,631 | ▲ 48.1% |
| Income taxes67/77 | €11,575 | €18,583 | €13,292 | €13,058 | €9,094 | €5,282 | €6,866 | ▲ 30.0% |
| Profit (loss) for the period9904 | €30,303 | €43,207 | €25,394 | €27,340 | €16,884 | €7,972 | €12,765 | ▲ 60.1% |
| Profit (loss) for the period to be appropriated9905 | €30,303 | €43,207 | €25,394 | €27,340 | €16,884 | €7,972 | €12,765 | ▲ 60.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €166,115 | €188,167 | €204,724 | €227,414 | €243,173 | €248,773 | €246,524 | ▼ 0.9% |
| Fixed assets21/28 | €28,944 | €20,324 | €31,018 | €28,450 | €27,860 | €36,262 | €33,272 | ▼ 8.2% |
| Tangible fixed assets22/27 | €28,944 | €20,324 | €31,018 | €28,450 | €27,860 | €36,262 | €33,272 | ▼ 8.2% |
| Land and buildings22 | - | - | - | €11,971 | €17,114 | €32,635 | €31,154 | ▼ 4.5% |
| Plant, machinery and equipment23 | - | - | - | €3,452 | €2,248 | €1,289 | €731 | ▼ 43.3% |
| Furniture and vehicles24 | - | - | - | €13,028 | €8,498 | €2,338 | €1,387 | ▼ 40.7% |
| Current assets29/58 | €137,172 | €167,843 | €173,706 | €198,964 | €215,314 | €212,511 | €213,252 | ▲ 0.3% |
| Amounts receivable within one year40/41 | €125,049 | €154,770 | €158,595 | €178,253 | €179,182 | €181,810 | €176,084 | ▼ 3.1% |
| Trade receivables40 | - | - | - | €31,059 | €19,271 | €18,453 | €19,758 | ▲ 7.1% |
| Other amounts receivable41 | - | - | - | €147,194 | €159,911 | €163,357 | €156,326 | ▼ 4.3% |
| Cash at bank and in hand54/58 | €11,432 | €12,811 | €14,887 | €19,695 | €35,186 | €30,412 | €35,260 | ▲ 15.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,015 | €945 | €289 | €1,909 | ▲ 560% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €166,115 | €188,167 | €204,724 | €227,414 | €243,173 | €248,773 | €246,524 | ▼ 0.9% |
| Equity10/15 | €97,590 | €140,797 | €166,191 | €193,531 | €200,178 | €189,969 | €202,734 | ▲ 6.7% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €63,603 | €103,603 | €128,997 | €156,337 | €162,984 | €152,775 | €165,540 | ▲ 8.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €11,652 | €11,652 | €11,652 | €11,652 | = |
| Distributable reserves133 | - | - | - | €142,825 | €149,472 | €139,263 | €152,028 | ▲ 9.2% |
| Profit (loss) carried forward14 | €27,787 | €30,994 | €30,994 | €30,994 | €30,994 | €30,994 | €30,994 | = |
| Amounts payable17/49 | €68,525 | €47,370 | €38,533 | €33,883 | €42,995 | €58,803 | €43,790 | ▼ 25.5% |
| Amounts payable after more than one year17 | €16,893 | €8,487 | - | - | - | €9,784 | €4,588 | ▼ 53.1% |
| Financial debts170/4 | - | - | - | - | - | €9,784 | €4,588 | ▼ 53.1% |
| Amounts payable within one year42/48 | €51,632 | €38,883 | €38,533 | €33,883 | €42,995 | €49,019 | €39,202 | ▼ 20.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,833 | €18,099 | €15,639 | €13,234 | ▼ 15.4% |
| Trade debts44 | €11,957 | €2,914 | €6,675 | €7,516 | €4,490 | €5,124 | €17,077 | ▲ 233% |
| Suppliers440/4 | - | - | - | €7,516 | €4,490 | €5,124 | €17,077 | ▲ 233% |
| Advances received on contracts in progress46 | - | - | - | - | €340 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €10,986 | €7,281 | €7,528 | €6,343 | ▼ 15.7% |
| Taxes450/3 | - | - | - | €10,986 | €6,691 | €5,533 | €3,593 | ▼ 35.0% |
| Remuneration and social security454/9 | - | - | - | - | €590 | €1,995 | €2,750 | ▲ 37.8% |
| Other amounts payable47/48 | - | - | - | €2,547 | €12,784 | €20,729 | €2,547 | ▼ 87.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,303 | €43,207 | €25,394 | €27,340 | €16,884 | €7,972 | €12,765 | ▲ 60.1% |
| + Depreciation and write-downs630 | €10,215 | €10,035 | €10,507 | €7,844 | €8,612 | €9,627 | €4,847 | ▼ 49.6% |
| Operating cash flow (approximation) | €40,518 | €53,241 | €35,901 | €35,184 | €25,497 | €17,599 | €17,613 | ▲ 0.1% |
| Investment in fixed assets (approximation) | - | -€1,415 | -€21,201 | -€5,276 | -€8,022 | -€18,029 | -€1,857 | ▲ 89.7% |
| Change in cash | - | €1,379 | €2,076 | €4,808 | €15,491 | -€4,774 | €4,848 | - |
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 27 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 01-07-2025 | micro format | 16-03-2026 | 2026-00054629 |
| 01-07-2024 | micro format | 28-02-2025 | 2025-00041063 |
| 01-07-2023 | micro format | 29-02-2024 | 2024-00037350 |
| 01-07-2022 | micro format | 28-02-2023 | 2023-00034789 |
| 01-07-2021 | micro format | 25-02-2022 | 2022-06800340 |
| 01-07-2020 | micro format | 05-03-2021 | 2021-07100251 |
| 01-07-2019 | micro format | 28-01-2020 | 2020-02700342 |
| 01-07-2018 | abbreviated format | 05-02-2019 | 2019-04600100 |
| 01-07-2017 | abbreviated format | 12-01-2018 | 2018-01000085 |
| 01-07-2016 | abbreviated format | 22-03-2017 | 2017-06900513 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.