Financials · financial year 2025, full format
2025 annual accounts filed 59 days after the deadline Filed on 28 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00538127.
Annual accounts 2025 filed on 28-09-2026 at the NBB all 8 filings
Turnover
€12,321▼ 61.1%
2024 · €31,686
EBIT margin
-9.5%▼ 8.2pp
2024 · -1.3%
Net result
-€2,078▼ 68.7%
2024 · -€1,232
Working capital
€265,256▼ 0.8%
2024 · €267,326
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €1,168, larger than the loss of €420 in 2024.
Turnover€0.01m
2025
Operating result-€0.001m
2025
Net result-€0.002m
2025
Total assets€0.3m
2025
Equity€0.3m
2022
Debt€0.08m
2025
Working capital€0.3m
2025
EBIT margin-9.5%
2025
Return on assets (ROA)-0.6%
2025
Solvency28.8%
2022
Current ratio4.37
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3.9m-€10.9m▲ 182%€10.2m▼ 7.0%€1.5m▼ 84.9%€0.03m▼ 98.0%€0.01m▼ 64.1%€0.03m▲ 184%€0.01m▼ 61.1%
Operating result€0.6m-€1.3m▲ 116%€0.9m▼ 32.4%€0.6m▼ 28.8%-€0.002m€0.001m-€420-€0.001m▼ 178%
Net result€0.2m-€0.8m▲ 238%€0.6mabove the sector's middle half▼ 22.7%€0.5mabove the sector's middle half▼ 25.2%-€0.008mwithin the sector's middle half-€69within the sector's middle half▲ 99.1%-€0.001mwithin the sector's middle half▼ 1,686%-€0.002mwithin the sector's middle half▼ 68.7%
EBIT margin15.3%-11.7%▼ 3.5pp8.5%▼ 3.2pp40.3%▲ 31.8pp-8.0%▼ 48.2pp6.6%▲ 14.6pp-1.3%▼ 7.9pp-9.5%▼ 8.2pp
Equity€0.4m-€1.2m▲ 182%€0.2mwithin the sector's middle half▼ 81.7%€0.7mwithin the sector's middle half▲ 204%€0.3mwithin the sector's middle half▼ 60.3%
Total assets€4.2m-€6.9m▲ 63.7%€4.0mwithin the sector's middle half▼ 42.7%€1.4mwithin the sector's middle half▼ 65.3%€0.9mwithin the sector's middle half▼ 32.0%€0.4mbelow the sector's middle half▼ 56.0%€0.4mbelow the sector's middle half▼ 12.3%€0.3mbelow the sector's middle half▼ 4.5%
Debt€3.8m-€5.7m▲ 50.3%€3.7m▼ 34.4%€0.7m▼ 81.4%€0.7m▼ 4.4%€0.1m▼ 78.6%€0.09m▼ 34.6%€0.08m▼ 15.2%
Working capital€1.8m-€1.2m▼ 32.8%€0.2mwithin the sector's middle half▼ 81.7%€0.7mwithin the sector's middle half▲ 205%€0.3mwithin the sector's middle half▼ 60.0%€0.3mwithin the sector's middle half▼ 1.2%€0.3mwithin the sector's middle half▼ 0.5%€0.3mwithin the sector's middle half▼ 0.8%
Solvency10.2%-17.6%▲ 7.4pp5.6%below the sector's middle half▼ 12.0pp49.3%within the sector's middle half▲ 43.7pp28.8%within the sector's middle half▼ 20.5pp
Current ratio1.75-1.21▼ 0.541.06within the sector's middle half▼ 0.151.98within the sector's middle half▲ 0.921.41within the sector's middle half▼ 0.572.89within the sector's middle half▲ 1.483.88above the sector's middle half▲ 0.994.37above the sector's middle half▲ 0.49
Return on assets (ROA)5.5%-11.3%▲ 5.9pp15.3%above the sector's middle half▲ 4.0pp33.1%above the sector's middle half▲ 17.7pp-0.8%within the sector's middle half▼ 33.9pp0.0%within the sector's middle half▲ 0.8pp-0.3%within the sector's middle half▼ 0.3pp-0.6%within the sector's middle half▼ 0.3pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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.
Key figures and ratios
Debt ≤ 1 year
€78,677▼
2024 · €92,834
Customer credit
42 days▲
2024 · 11 days
Supplier credit
2174 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €67,719 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €1,168 | €1,270 | €1,257 | €2,000 | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.6m | €0.04m | €0.01m | €0.03m | - | - |
| Turnover70 | €3.9m | €10.9m | €10.2m | €1.5m | €0.03m | €0.01m | €0.03m | €0.01m | ▼ 61.1% |
| Other operating income74 | - | - | - | €0.04m | €0.005m | €237 | - | - | - |
| Operating charges60/66A | - | - | - | €1.0m | €0.04m | €0.01m | €0.03m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | - | €0.01m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.8m | - | - | - | - | - |
| Change in stocks: decrease (increase)609 | - | - | - | €0.8m | - | - | - | - | - |
| Services and other goods61 | - | - | - | €0.1m | €0.03m | €0.01m | €0.03m | - | - |
| Other operating charges640/8 | - | - | - | €0.009m | €0.007m | €345 | €259 | €277 | ▲ 6.9% |
| Gross operating margin9900 | - | - | - | - | - | - | - | -€0.001m | - |
| Operating profit (loss)9901 | €0.6m | €1.3m | €0.9m | €0.6m | -€0.002m | €0.001m | -€420 | -€0.001m | ▼ 178% |
| Recurring financial income75 | €246 | €67 | €0.004m | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.006m | €0.005m | €0.001m | €0.001m | €0.001m | ▲ 12.1% |
| Recurring financial charges65 | €0.3m | €0.1m | €0.09m | €0.006m | €0.005m | €0.001m | €0.001m | €0.001m | ▲ 12.1% |
| Debt charges650 | €0.1m | €0.02m | €0.05m | €0.004m | - | - | €0.001m | - | - |
| Other financial charges652/9 | - | - | - | €0.002m | €0.005m | €0.001m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €1.2m | €0.8m | €0.6m | -€0.008m | -€69 | -€0.001m | -€0.002m | ▼ 68.7% |
| Income taxes67/77 | €0.1m | €0.4m | €0.2m | €0.2m | - | - | - | - | - |
| Taxes670/3 | - | - | - | €0.2m | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.2m | €0.8m | €0.6m | €0.5m | -€0.008m | -€69 | -€0.001m | -€0.002m | ▼ 68.7% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.8m | €0.6m | €0.5m | -€0.008m | -€69 | -€0.001m | -€0.002m | ▼ 68.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.2m | €6.9m | €4.0m | €1.4m | €0.9m | €0.4m | €0.4m | €0.3m | ▼ 4.5% |
| Current assets29/58 | €4.2m | €6.9m | €4.0m | €1.4m | €0.9m | €0.4m | €0.4m | €0.3m | ▼ 4.5% |
| Stocks and contracts in progress3 | €2.9m | €5.9m | €1.4m | €0.02m | €0.02m | €0.01m | €0.009m | - | - |
| Stocks30/36 | - | - | - | €0.02m | €0.02m | €0.01m | €0.009m | - | - |
| Property held for sale35 | - | - | - | €0.02m | €0.02m | €0.01m | €0.009m | - | - |
| Amounts receivable within one year40/41 | €0.7m | €0.9m | €1.1m | €0.5m | €0.5m | €0.08m | €0.09m | €0.08m | ▼ 1.3% |
| Trade receivables40 | - | - | - | €0.02m | €0.01m | €0.001m | €0.001m | €0.001m | ▲ 43.6% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.5m | €0.08m | €0.08m | €0.08m | ▼ 1.8% |
| Cash at bank and in hand54/58 | €0.6m | €0.1m | €1.5m | €0.9m | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 2.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.2m | €6.9m | €4.0m | €1.4m | €0.9m | €0.4m | €0.4m | €0.3m | ▼ 4.5% |
| Equity10/15 | €0.4m | €1.2m | €0.2m | €0.7m | €0.3m | - | - | - | - |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.2m | €1.0m | €0.003m | €0.5m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 4.4% |
| Amounts payable17/49 | €3.8m | €5.7m | €3.7m | €0.7m | €0.7m | €0.1m | €0.09m | €0.08m | ▼ 15.2% |
| Amounts payable after more than one year17 | €1.4m | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €2.4m | €5.7m | €3.7m | €0.7m | €0.7m | €0.1m | €0.09m | €0.08m | ▼ 15.2% |
| Trade debts44 | €1.5m | €2.0m | €1.8m | €0.6m | €0.2m | €0.1m | €0.09m | €0.08m | ▼ 15.2% |
| Suppliers440/4 | - | - | - | €0.6m | €0.2m | €0.1m | €0.09m | €0.08m | ▼ 15.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.07m | - | - | - | - |
| Taxes450/3 | - | - | - | €0.1m | €0.07m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €0.4m | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.003m | €142 | €135 | €143 | ▲ 5.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.8m | €0.6m | €0.5m | -€0.008m | -€69 | -€0.001m | -€0.002m | ▼ 68.7% |
| Operating cash flow (approximation) | €0.2m | €0.8m | €0.6m | €0.5m | -€0.008m | -€69 | -€0.001m | -€0.002m | ▼ 68.7% |
| Change in cash | - | -€0.5m | €1.4m | -€0.6m | -€0.4m | -€0.1m | -€0.05m | -€0.006m | ▲ 87.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-09-2026 | 2026-00538127 | |
| 31-12-2024 | full format | 09-12-2025 | 2025-00583130 | |
| 31-12-2023 | full format | 30-10-2024 | 2024-00528743 | |
| 31-12-2022 | full format | 21-11-2023 | 2023-00515453 | |
| 31-12-2021 | full format | 22-08-2022 | 2022-20307020 | |
| 31-12-2020 | full format | 12-08-2021 | 2021-48700179 | |
| 31-12-2019 | full format | 31-07-2020 | 2020-38000090 | |
| 31-12-2018 | full format | 05-07-2019 | 2019-29700121 |