Philing
Annual accounts 2025
full format, filed on 17-07-2026, 14 days before the deadline-€1.2m
▼ €102,715
-€1.5m
▲ €625,945
-€1.4m
▲ €615,720
€748,156
▲ €1.6m
4.2%
▲ 0.5 percentage points
32.59
▲ 25.04
Turnover: not included in this filing.
Money flows
no detail for 2025Balance sheet
balance sheet total €42.4m on 31-12-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
4.2%
Higher than 10% of 3,873 companies in 2025.
32.59
Higher than 95% of 3,727 companies in 2025.
1.6%
Higher than 43% of 3,849 companies in 2025.
Philing
Middle half of the sector
80% of the sector
Full accounts in head offices and management consultancy (NACE 70)
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff
€99,124
Staff costs divided by the average number of full-time equivalents.
-2 people
people who joined
people who left
In 2025, nobody joined and 2 people left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
42.4m | 30.4m | 18.5m | 16.7m | 15.6m | 14.9m | 14.6m | 12.9m | 20.5m | 16.3m | 13.9m | 12.5m | 7.4m | 1.8m | |
20 |
0 | 0 | 0 | 0 | - | - | - | 191 | 2,747 | 7,050 | 11,554 | 11,366 | 7,169 | - | |
21/28 |
37.8m | 13.8m | 16.9m | 15.6m | 14.9m | 13.6m | 13.5m | 12.1m | 12.1m | 10.4m | 8.2m | - | 4.5m | 261,018 | |
21 |
0 | 0 | 0 | 833 | 1,776 | 2,719 | 168,275 | 399,746 | 631,218 | 862,689 | 1.1m | 327,995 | - | - | |
22/27 |
989,983 | 1.1m | 1.1m | 1.1m | 1.2m | 1.3m | 1.3m | 1.5m | 1.6m | 1.6m | 1.6m | 1.6m | - | - | |
22 |
864,439 | 904,493 | 944,548 | 984,602 | 1.0m | 1.1m | 1.1m | 1.1m | 1.2m | 1.2m | 1.3m | 1.3m | - | - | |
24 |
85,592 | 117,582 | 18,143 | 19,646 | 28,145 | 22,021 | 27,024 | 53,612 | 86,571 | 75,188 | 82,293 | 96,906 | - | - | |
26 |
39,953 | 57,416 | 91,040 | 116,144 | 153,630 | 190,252 | 197,789 | 256,946 | 278,826 | 276,641 | 279,487 | 200,390 | - | - | |
28 |
36.8m | 12.7m | 15.9m | 14.4m | 13.7m | 12.3m | 12.0m | 10.2m | 9.9m | 7.9m | 5.5m | 4.9m | 4.5m | 261,018 | |
29/58 |
4.6m | 16.5m | 1.6m | 1.1m | 749,873 | 1.2m | 1.1m | 801,981 | 8.4m | 5.9m | 5.7m | 5.7m | 2.9m | 1.6m | |
29 |
622,889 | 13.4m | 272,486 | 203,216 | 161,452 | 92,112 | 30,512 | 30,512 | 7.4m | 2.3m | 2.1m | 2.2m | 1.8m | 1.5m | |
290 |
14,946 | 14,946 | 27,373 | 27,373 | 27,373 | 30,512 | 30,512 | 30,512 | 7.4m | 2.3m | 2.1m | 2.2m | 1.8m | 1.5m | |
291 |
607,943 | 13.4m | 245,113 | 175,843 | 134,078 | 61,600 | - | - | - | - | - | - | - | - | |
40/41 |
108,733 | 656,943 | 155,136 | 158,215 | 309,399 | 441,171 | 689,941 | 457,847 | 579,327 | 565,305 | 910,653 | 1.4m | 98,057 | 27,208 | |
40 |
29,672 | 548,190 | 56,956 | 142,051 | 306,288 | 431,578 | 677,991 | 240,878 | 217,563 | 164,002 | 224,256 | 266,736 | 1,210 | - | |
41 |
79,061 | 108,753 | 98,180 | 16,164 | 3,111 | 9,592 | 11,950 | 216,969 | 361,763 | 401,303 | 686,396 | 1.1m | 96,847 | 27,208 | |
50/53 |
2.0m | 1.4m | 893,025 | 393,217 | - | - | - | - | - | - | - | - | - | - | |
54/58 |
1.9m | 1.1m | 224,221 | 383,161 | 275,218 | 708,723 | 399,086 | 307,526 | 434,406 | 3.1m | 2.7m | 2.2m | 1.1m | 50,062 | |
490/1 |
13,060 | 12,012 | 49,635 | 4,109 | 3,804 | 4,526 | 5,586 | 6,096 | 9,612 | - | 9,271 | 21,000 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
42.4m | 30.4m | 18.5m | 16.7m | 15.6m | 14.9m | 14.6m | 12.9m | 20.5m | 16.3m | 13.9m | 12.5m | 7.4m | 1.8m | |
10/15 |
1.8m | 1.1m | 2.1m | 2.3m | 2.1m | 1.3m | 1.1m | 1.1m | 1.4m | 1.6m | 1.9m | 1.7m | -418,010 | 710,423 | |
10/11 |
1.4m | 1.4m | 1.5m | 1.5m | 1.5m | 997,024 | 997,024 | 997,024 | 997,024 | 997,024 | 997,024 | - | 750,000 | 750,000 | |
10 |
1.4m | 1.4m | 1.5m | 1.5m | 1.5m | - | - | - | - | - | - | 997,024 | - | - | |
100 |
1.4m | 1.4m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.3m | 1.3m | |
101 |
- | - | - | - | - | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 | |
12 |
- | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
129,849 | 129,849 | 135,412 | 135,412 | 125,098 | 109,058 | 100,260 | 100,260 | 100,260 | 100,260 | 44,623 | 34,765 | - | - | |
130/1 |
129,849 | 129,849 | 135,412 | 135,412 | 125,098 | 109,058 | - | - | - | - | - | - | - | - | |
130 |
129,849 | 129,849 | 135,412 | 135,412 | 125,098 | 109,058 | 100,260 | 100,260 | 100,260 | 100,260 | 44,623 | 34,765 | - | - | |
14 |
209,306 | -458,657 | 505,526 | 667,832 | 471,866 | 167,115 | -53 | -1,073 | 306,274 | 504,461 | 847,841 | 660,544 | -1.2m | -39,577 | |
17/49 |
40.6m | 29.3m | 16.4m | 14.4m | 13.5m | 13.6m | 13.5m | 11.8m | 19.1m | 14.7m | 12.0m | 10.8m | 7.9m | 1.1m | |
17 |
40.4m | 27.1m | 16.2m | 14.1m | 13.2m | 13.5m | 13.4m | 11.7m | 18.8m | 13.3m | 11.9m | 9.6m | 6.7m | 1.1m | |
170/4 |
40.4m | 27.1m | 16.2m | 14.1m | 13.2m | 13.5m | 13.4m | 11.7m | 18.8m | 13.3m | 11.9m | 9.6m | 6.7m | 1.1m | |
42/48 |
139,831 | 2.2m | 219,314 | 257,546 | 304,917 | 96,890 | 108,988 | 105,567 | 295,583 | 1.4m | 98,457 | 1.2m | 1.1m | 7,865 | |
42 |
65,996 | 62,377 | 58,956 | 55,723 | 61,933 | 60,244 | 70,286 | 69,642 | 64,440 | 55,360 | 55,244 | 53,401 | - | - | |
44 |
48,908 | 672,707 | 20,182 | 52,412 | 30,640 | 15,778 | 24,900 | 20,974 | 214,959 | 198,723 | 29,401 | 36,182 | 7,865 | 7,865 | |
440/4 |
48,908 | 672,707 | 20,182 | 52,412 | 30,640 | 15,778 | 24,900 | 20,974 | 214,959 | 198,723 | 29,401 | 36,182 | 7,865 | 7,865 | |
45 |
20,864 | 20,109 | 20,062 | 17,543 | 14,542 | 20,868 | 13,802 | 14,950 | 16,184 | 12,610 | 13,812 | 12,550 | - | - | |
450/3 |
0 | 0 | 79 | 0 | - | 6,439 | - | 1,074 | - | - | - | - | - | - | |
454/9 |
20,864 | 20,109 | 19,983 | 17,543 | 14,542 | 14,429 | 13,802 | 13,876 | 16,184 | 12,610 | 13,812 | 12,550 | - | - | |
47/48 |
4,063 | 1.4m | 120,114 | 131,868 | 197,802 | - | - | - | - | 1.1m | - | 1.1m | 1.1m | - | |
492/3 |
86,804 | 11,213 | 25,970 | 3,731 | 1,916 | 4,981 | 2,184 | 2,094 | - | - | - | - | - | - | |
| Income statement | |||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | 332,027 | - | - | |
76A |
393 | - | - | 69 | - | - | 13,698 | 5,509 | - | 1.1m | 88,291 | - | - | - | |
9900 |
-1.2m | -1.1m | -135,678 | 219,687 | 325,839 | 429,189 | 419,626 | 2,857 | -185,766 | -28,851 | 151,981 | 101,705 | -72,302 | -55,015 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | 275,927 | - | - | |
62 |
188,335 | 193,311 | 169,594 | 145,677 | 121,927 | 119,649 | 134,679 | 143,556 | 144,469 | 126,593 | 162,563 | - | - | - | |
630 |
80,194 | 90,418 | 86,190 | 94,006 | 90,495 | 263,791 | 334,330 | 340,373 | 336,788 | 348,579 | 135,842 | 85,997 | 292 | - | |
631/4 |
- | 12,428 | - | - | - | - | - | - | - | - | - | - | - | - | |
640/8 |
69,365 | 327,405 | 17,057 | 13,177 | 13,649 | 14,096 | 5,442 | 29,832 | 13,713 | 2,876 | 11,930 | 1,774 | 671 | 348 | |
66A |
- | 442,991 | - | - | - | - | - | - | - | - | 1,699 | - | 1.2m | - | |
9901 |
-1.5m | -2.1m | -408,520 | -33,174 | 99,768 | 31,653 | -54,825 | -510,904 | -680,737 | -506,899 | -158,353 | -24,245 | -73,264 | -55,363 | |
75/76B |
2.3m | 1.3m | 349,941 | 277,604 | 52,893 | 180,501 | 107,838 | 247,733 | 536,997 | 1.7m | 340,957 | - | 67,258 | 15,787 | |
75 |
404,012 | 505,119 | 348,954 | 138,327 | 52,893 | 180,501 | 107,838 | 247,733 | 536,997 | 595,183 | 340,957 | 246,368 | 67,258 | 15,787 | |
76B |
1.9m | 795,464 | 987 | 139,277 | - | - | - | - | - | 1.1m | - | - | - | - | |
65/66B |
88,613 | 111,963 | 103,722 | 38,151 | -168,940 | 36,188 | 50,548 | 43,385 | 54,310 | 47,795 | 72,929 | - | 10,670 | 1 | |
65 |
88,613 | 111,963 | 52,640 | 38,127 | -456,240 | 36,188 | 50,548 | 43,385 | 54,310 | 47,795 | 72,929 | 112,677 | 10,670 | 1 | |
66B |
- | - | 51,082 | 24 | 287,300 | - | - | - | - | - | - | - | - | - | |
9903 |
668,755 | -939,327 | -162,301 | 206,279 | 321,601 | 175,966 | 2,465 | -306,556 | -198,050 | 1.1m | 196,267 | 696,308 | -1.2m | -39,577 | |
67/77 |
793 | - | 5 | 0 | 809 | - | 1,445 | 792 | 137 | 265 | -888 | 999 | - | - | |
9904 |
667,962 | -939,327 | -162,306 | 206,279 | 320,791 | 175,966 | 1,020 | -307,347 | -198,187 | 1.1m | 197,155 | 695,309 | -1.2m | -39,577 | |
9905 |
667,962 | -939,327 | -162,306 | 206,279 | 320,791 | 175,966 | 1,020 | -307,347 | -198,187 | 1.1m | 197,155 | 695,309 | -1.2m | -39,577 | |
| Appropriation of the result | |||||||||||||||
9906 |
209,306 | -458,657 | 505,526 | 678,146 | 487,906 | 175,913 | -53 | -1,073 | 306,274 | 2.0m | 857,699 | 695,309 | -1.2m | -39,577 | |
14P |
-458,657 | 480,671 | 667,832 | 471,866 | 167,115 | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | - | 39,577 | - | |
691/2 |
- | - | - | 10,314 | 16,040 | 8,798 | - | - | - | 55,637 | 9,858 | 34,765 | - | - | |
6920 |
- | - | - | 10,314 | 16,040 | 8,798 | - | - | - | 55,637 | 9,858 | 34,765 | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | 1.4m | - | - | - | - | |
694 |
- | - | - | - | - | - | - | - | - | 1.4m | - | - | - | - | |
| Social balance sheet | |||||||||||||||
9087 |
1.9 | 1.9 | 1.8 | 1.8 | 1.8 | 1.8 | 2.2 | 2.8 | 2.8 | 2.8 | 3.3 | 2.9 | - | - | |
Hours worked1013 |
3,058 | 3,225 | 3,102 | 3,029 | 2,998 | 3,105 | 3,732 | 4,843 | 4,902 | 3,998 | 5,289 | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 17-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00305805 | |
| 31-12-2024 | full format | 27-06-2025 | 2025-00188060 | |
| 31-12-2023 | full format | 11-07-2024 | 2024-00236830 | |
| 31-12-2022 | full format | 25-07-2023 | 2023-00267632 | |
| 31-12-2021 | full format | 18-08-2022 | 2022-20294508 | |
| 31-12-2020 | full format | 15-07-2021 | 2021-36200253 | |
| 31-12-2019 | full format | 28-08-2020 | 2020-46300077 | |
| 31-12-2018 | full format | 24-07-2019 | 2019-37000538 | |
| 31-12-2017 | full format | 25-06-2018 | 2018-22600597 | |
| 31-12-2016 | full format | 31-08-2017 | 2017-56500280 | |
| 31-12-2015 | full format | 17-06-2016 | 2016-19100278 | |
| 31-12-2014 | full format | 30-06-2015 | 2015-25500251 | |
| 31-12-2013 | full format | 30-07-2014 | 2014-37300304 | |
| 31-12-2012 | full format | 10-07-2013 | 2013-29000589 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1.4m | -2.0m | -322,330 | 60,832 | 190,264 | 295,445 | 279,505 | -170,531 | -343,949 | -158,320 | -22,511 | 61,752 | -72,972 | - | ||
| 748,156 | -848,909 | -76,116 | 300,286 | 411,287 | 439,758 | 335,350 | 33,025 | 138,601 | 1.5m | 332,997 | 781,306 | -1.2m | - | ||
| 24.2m | 2.7m | 1.6m | 1.6m | 1.6m | 413,815 | 1.8m | 286,438 | 2.1m | 2.9m | 1.5m | 2.5m | 5.4m | 261,018 | ||
| 795,614 | 833,321 | -158,940 | 107,943 | -433,505 | 309,637 | 91,560 | -126,880 | -2.6m | 358,237 | 553,511 | 1.1m | 1.0m | - | ||
| 4.4m | 14.4m | 1.4m | 884,372 | 444,955 | 1.1m | 1.0m | 696,414 | 8.1m | 4.5m | 5.6m | 4.5m | 1.8m | 1.5m | ||
| - | - | - | - | - | - | - | - | - | - | - | -7.3% | - | - | ||
| 4.2% | 3.6% | 11.5% | 13.8% | 13.4% | 8.6% | 7.5% | 8.5% | 6.8% | 9.8% | 13.6% | 13.5% | -5.6% | 39.1% | ||
| 32.59 | 7.56 | 7.27 | 4.43 | 2.46 | 12.87 | 10.32 | 7.60 | 28.49 | 4.25 | 58.23 | 4.69 | 2.62 | - | ||
| 22.87 | 26.43 | 7.67 | 6.26 | 6.46 | 10.67 | 12.29 | 10.74 | 13.63 | 9.17 | 6.37 | 6.41 | - | 1.56 | ||
| 37.6% | -84.9% | -7.6% | 9.0% | 15.3% | 13.8% | 0.1% | -28.0% | -14.1% | 69.4% | 10.4% | 41.1% | - | -5.6% | ||
| 1.6% | -3.1% | -0.9% | 1.2% | 2.1% | 1.2% | 0.0% | -2.4% | -1.0% | 6.8% | 1.4% | 5.5% | -15.7% | -2.2% | ||
| -16.05 | -18.20 | -6.12 | 1.60 | -0.42 | - | - | - | - | - | - | 0.55 | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | 293 days | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | 48 days | - | - |
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 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 2 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 |
| 1.9 | 1.8 | 1.8 | 1.8 | 1.8 | |
| On a permanent contract | 2 | 2 | 2 | 2 | 2 |
| Joined | 0 | 1 | 1 | - | - |
| Left | 2 | 1 | 1 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,845 | €113,797 | €21,241 | €4,424 | €19,000 |
| Financial fixed assets | €24.2m | €2.6m | €1.6m | €1.6m | €1.5m |
| €80,194 | €90,418 | €86,190 | €94,006 | €90,495 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on Philing
The operating result for 2025 is a loss of €1.5m, smaller than the loss of €2.1m in 2024.
Debt's share of the balance-sheet total falls from 96.4% to 95.8%. Equity and debt are higher.
Large changes and their cause
- 2024 Net result -479%, Total assets +64% on 2023. Demerger with Guardiola Capital, Official Gazette 03-10-2024.