PICAF
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-01-2026 PDF all 25 filings
Turnover
€2,400=
2024 · €2,400
EBIT margin
-36.0%▲ 28.4pp
2024 · -64.4%
Net result
-€865▲ 44.0%
2024 · -€1,546
Working capital
Not included in this filing
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€2,400
=
2025
20192025
Operating result
-€865
▲ 44.0%
2025
20192025
Net result
-€865
▲ 44.0%
2025
20192025
EBIT margin
-36.0%
▲ 28.4pp
2025
20192025
Equity
€9,611
▼ 8.3%
2025
20192025
Total assets
€27,194
▼ 9.2%
2025
20192025
Debt
€17,583
▼ 9.7%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€2,400-€2,400=€2,400=€2,495▲ 4.0%€2,400▼ 3.8%€2,400=€2,400=
Operating result-€2,597--€1,320▲ 49.2%-€352▲ 73.3%-€977▼ 178%-€2,455▼ 151%-€1,546▲ 37.0%-€865▲ 44.0%
Net result-€2,953--€1,887▲ 36.1%-€586▲ 68.9%-€1,061▼ 81.1%-€2,453▼ 131%-€1,546▲ 37.0%-€865▲ 44.0%
EBIT margin-108.2%--55.0%▲ 53.2pp-14.7%▲ 40.3pp-39.2%▼ 24.5pp-102.3%▼ 63.1pp-64.4%▲ 37.9pp-36.0%▲ 28.4pp
Equity€18,009-€16,122▼ 10.5%€15,536▼ 3.6%€14,475▼ 6.8%€12,022▼ 16.9%€10,476▼ 12.9%€9,611▼ 8.3%
Total assets€43,703-€40,952▼ 6.3%€38,200▼ 6.7%€35,449▼ 7.2%€32,697▼ 7.8%€29,946▼ 8.4%€27,194▼ 9.2%
Debt€25,694-€24,830▼ 3.4%€22,664▼ 8.7%€20,974▼ 7.5%€20,675▼ 1.4%€19,470▼ 5.8%€17,583▼ 9.7%
The operating result for 2025 is a loss of €865, smaller than the loss of €1,546 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €27,194
Equity
€9,611 ▼ 8.3%
Debt
€17,583 ▼ 9.7%
Debt's share of the balance-sheet total falls from 65.0% to 64.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1,887▲
2024 · €1,205
Cash flow
€1,887▲
2024 · €1,205
Debt to equity
1.83▼
2024 · 1.86
ROE
-9.0%▲
2024 · -14.8%
ROA
-3.2%▲
2024 · -5.2%
Debt ≤ 1 year
€17,583▼
2024 · €19,470
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 |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €2,400 | €2,400 | €2,400 | €2,495 | €2,400 | €2,400 | €2,400 | = |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €76 | €737 | €86 | €88 | ▲ 2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,752 | €2,752 | €2,752 | €2,751 | €2,752 | €2,751 | €2,752 | = |
| Other operating charges640/8 | - | - | - | €645 | €1,366 | €1,109 | €425 | ▼ 61.7% |
| Gross operating margin9900 | €1,584 | €1,928 | €2,400 | €2,419 | €1,663 | €2,314 | €2,312 | ▼ 0.1% |
| Operating profit (loss)9901 | -€2,597 | -€1,320 | -€352 | -€977 | -€2,455 | -€1,546 | -€865 | ▲ 44.0% |
| Financial income75/76B | - | - | - | - | €2 | - | - | - |
| Recurring financial income75 | - | - | - | - | €2 | - | - | - |
| Financial charges65/66B | - | - | - | €84 | €0 | - | - | - |
| Recurring financial charges65 | €356 | €567 | €234 | €84 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€2,953 | -€1,887 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Profit (loss) for the period9904 | -€2,953 | -€1,887 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Profit (loss) for the period to be appropriated9905 | -€2,953 | -€1,887 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €43,703 | €40,952 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Fixed assets21/28 | €43,703 | €40,952 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Tangible fixed assets22/27 | €43,579 | €40,828 | €38,076 | €35,325 | €32,573 | €29,822 | €27,070 | ▼ 9.2% |
| Land and buildings22 | - | - | - | €35,325 | €32,573 | €29,822 | €27,070 | ▼ 9.2% |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | €124 | €124 | = |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €43,703 | €40,952 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Equity10/15 | €18,009 | €16,122 | €15,536 | €14,475 | €12,022 | €10,476 | €9,611 | ▼ 8.3% |
| Contributions10/11 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | = |
| Profit (loss) carried forward14 | -€87,346 | -€89,233 | -€89,819 | -€90,880 | -€93,333 | -€94,879 | -€95,744 | ▼ 0.9% |
| Amounts payable17/49 | €25,694 | €24,830 | €22,664 | €20,974 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Amounts payable within one year42/48 | €25,694 | €24,830 | €22,664 | €20,974 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Financial debts43 | - | - | - | €2 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €2 | - | - | - | - |
| Trade debts44 | €817 | - | - | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €20,972 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,953 | -€1,887 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| + Depreciation and write-downs630 | €2,752 | €2,752 | €2,752 | €2,751 | €2,752 | €2,751 | €2,752 | = |
| Operating cash flow (approximation) | -€201 | €865 | €2,166 | €1,690 | €299 | €1,205 | €1,887 | ▲ 56.6% |
| Investment in fixed assets (approximation) | - | -€1 | €0 | €0 | €0 | €0 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00023652 | |
| 30-06-2024 | abbreviated format | 25-02-2025 | 2025-00040622 | |
| 30-06-2023 | abbreviated format | 14-02-2024 | 2024-00030831 | |
| 30-06-2022 | abbreviated format | 22-02-2023 | 2023-00030686 | |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-04300123 | |
| 30-06-2020 | abbreviated format | 25-01-2021 | 2021-02100474 | |
| 30-06-2019 | abbreviated format | 14-01-2020 | 2020-01600163 | |
| 30-06-2018 | abbreviated format | 15-01-2019 | 2019-01600028 | |
| 30-06-2017 | abbreviated format | 07-02-2018 | 2018-04600270 | |
| 30-06-2016 | abbreviated format | 16-01-2017 | 2017-01400414 |