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InactiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 11-02-2026 PDF all 38 filings
Turnover
≈ €200,000
Estimated: probably between €120,000 and €390,000
EBIT margin
Not included in this filing
Net result
€48,881▲ 5.3%
2024 · €46,402
Working capital
€163,495▲ 42.3%
2024 · €114,921
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 0% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Operating result€71,187
2025
Net result€48,881
2025
Total assets€204,539
2025
Equity€165,968
2025
Debt€38,571
2025
Working capital€163,495
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.
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€5,449-€2,218▼ 59.3%€13,923▲ 528%€18,557▲ 33.3%-€1,435€71,106€71,187▲ 0.1%
Net result€4,821-€1,254▼ 74.0%€9,726▲ 676%€12,382▲ 27.3%-€2,195€46,402€48,881▲ 5.3%
Equity€49,518-€50,772▲ 2.5%€60,498▲ 19.2%€72,880▲ 20.5%€70,685▼ 3.0%€117,087▲ 65.6%€165,968▲ 41.7%
Total assets€62,395-€69,906▲ 12.0%€89,590▲ 28.2%€98,184▲ 9.6%€86,975▼ 11.4%€146,717▲ 68.7%€204,539▲ 39.4%
Debt€12,876-€19,134▲ 48.6%€29,092▲ 52.0%€25,304▼ 13.0%€16,290▼ 35.6%€29,630▲ 81.9%€38,571▲ 30.2%
Working capital€38,497-€42,704▲ 10.9%€56,199▲ 31.6%€68,738▲ 22.3%€67,556▼ 1.7%€114,921▲ 70.1%€163,495▲ 42.3%
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €204,539
Fixed assets
€2,473 ▲ 14.2%
Current assets
€202,066 ▲ 39.8%
Equity and liabilities €204,539
Equity
€165,968 ▲ 41.7%
Debt
€38,571 ▲ 30.2%
Debt's share of the balance-sheet total falls from 20.2% to 18.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€72,024▼
2024 · €72,069
Cash flow
€49,718▲
2024 · €47,365
Current ratio
5.24▲
2024 · 4.88
Debt to equity
0.23▼
2024 · 0.25
ROE
29.5%▼
2024 · 39.6%
ROA
23.9%▼
2024 · 31.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€38,571▲
2024 · €29,630
Income taxes
€25,913▲
2024 · €24,210
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,112 | - | - | €1,144 |
| Depreciation and write-downs of the year | €1,270 | €1,012 | €963 | €837 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €2,127 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,754 | €6,640 | €6,955 | €1,270 | €1,012 | €963 | €837 | ▼ 13.1% |
| Other operating charges640/8 | - | - | - | €179 | €454 | €646 | €908 | ▲ 40.5% |
| Gross operating margin9900 | €12,713 | €10,634 | €22,026 | €20,006 | €2,159 | €72,715 | €72,931 | ▲ 0.3% |
| Operating profit (loss)9901 | €5,449 | €2,218 | €13,923 | €18,557 | -€1,435 | €71,106 | €71,187 | ▲ 0.1% |
| Financial income75/76B | - | - | - | - | - | €30 | €4,132 | ▲ 138× |
| Recurring financial income75 | - | - | - | - | - | €30 | €4,132 | ▲ 138× |
| Financial charges65/66B | - | - | - | €483 | €584 | €524 | €526 | ▲ 0.3% |
| Recurring financial charges65 | €629 | €578 | €519 | €483 | €584 | €524 | €526 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | €4,821 | €1,641 | €13,404 | €18,075 | -€2,019 | €70,612 | €74,793 | ▲ 5.9% |
| Income taxes67/77 | - | €387 | €3,679 | €5,693 | €176 | €24,210 | €25,913 | ▲ 7.0% |
| Profit (loss) for the period9904 | €4,821 | €1,254 | €9,726 | €12,382 | -€2,195 | €46,402 | €48,881 | ▲ 5.3% |
| Profit (loss) for the period to be appropriated9905 | €4,821 | €1,254 | €9,726 | €12,382 | -€2,195 | €46,402 | €48,881 | ▲ 5.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €62,395 | €69,906 | €89,590 | €98,184 | €86,975 | €146,717 | €204,539 | ▲ 39.4% |
| Fixed assets21/28 | €14,708 | €8,068 | €4,298 | €4,141 | €3,129 | €2,166 | €2,473 | ▲ 14.2% |
| Tangible fixed assets22/27 | €13,653 | €7,013 | €3,243 | €3,086 | €2,073 | €1,110 | €1,417 | ▲ 27.7% |
| Plant, machinery and equipment23 | - | - | - | €1,814 | €1,318 | €871 | €425 | ▼ 51.2% |
| Furniture and vehicles24 | - | - | - | €1,272 | €755 | €239 | €993 | ▲ 315% |
| Financial fixed assets28 | €1,056 | €1,056 | €1,056 | €1,056 | €1,056 | €1,056 | €1,056 | = |
| Current assets29/58 | €47,686 | €61,837 | €85,292 | €94,043 | €83,846 | €144,551 | €202,066 | ▲ 39.8% |
| Stocks and contracts in progress3 | €2,200 | €2,500 | €1,270 | €1,861 | - | - | - | - |
| Stocks30/36 | - | - | - | €1,861 | - | - | - | - |
| Amounts receivable within one year40/41 | €25,587 | €32,375 | €42,053 | €40,611 | €44,780 | €29,322 | €43,702 | ▲ 49.0% |
| Trade receivables40 | - | - | - | €40,611 | €44,780 | €29,322 | €43,702 | ▲ 49.0% |
| Cash at bank and in hand54/58 | €19,899 | €26,962 | €41,469 | €51,571 | €39,066 | €115,229 | €158,364 | ▲ 37.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €62,395 | €69,906 | €89,590 | €98,184 | €86,975 | €146,717 | €204,539 | ▲ 39.4% |
| Equity10/15 | €49,518 | €50,772 | €60,498 | €72,880 | €70,685 | €117,087 | €165,968 | ▲ 41.7% |
| Contributions10/11 | €6,205 | - | - | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Contributions outside capital11 | - | - | - | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Other1109/19 | - | - | - | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Reserves13 | €43,313 | €44,567 | €54,292 | €66,674 | €64,479 | €110,882 | €159,763 | ▲ 44.1% |
| 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 | = |
| Distributable reserves133 | - | - | - | €64,814 | €62,619 | €109,022 | €157,903 | ▲ 44.8% |
| Amounts payable17/49 | €12,876 | €19,134 | €29,092 | €25,304 | €16,290 | €29,630 | €38,571 | ▲ 30.2% |
| Amounts payable after more than one year17 | €3,687 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €9,190 | €19,134 | €29,092 | €25,304 | €16,290 | €29,630 | €38,571 | ▲ 30.2% |
| Trade debts44 | - | €7,748 | €8,301 | €7,530 | €9,982 | €1,051 | €1,103 | ▲ 4.9% |
| Suppliers440/4 | - | - | - | €7,530 | €9,982 | €1,051 | €1,103 | ▲ 4.9% |
| Taxes, remuneration and social security45 | - | - | - | €11,402 | €698 | €25,989 | €27,734 | ▲ 6.7% |
| Taxes450/3 | - | - | - | €8,102 | €698 | €25,989 | €27,734 | ▲ 6.7% |
| Remuneration and social security454/9 | - | - | - | €3,300 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €6,373 | €5,610 | €2,589 | €9,734 | ▲ 276% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,821 | €1,254 | €9,726 | €12,382 | -€2,195 | €46,402 | €48,881 | ▲ 5.3% |
| + Depreciation and write-downs630 | €6,754 | €6,640 | €6,955 | €1,270 | €1,012 | €963 | €837 | ▼ 13.1% |
| Operating cash flow (approximation) | €11,575 | €7,894 | €16,681 | €13,651 | -€1,183 | €47,365 | €49,718 | ▲ 5.0% |
| Investment in fixed assets (approximation) | - | €0 | -€3,185 | -€1,112 | €0 | €0 | -€1,144 | - |
| Change in cash | - | €7,062 | €14,507 | €10,102 | -€12,504 | €76,163 | €43,135 | ▼ 43.4% |
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 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 11-02-2026 | 2026-00038405 | |
| 30-09-2024 | full format | 24-03-2025 | 2025-00055088 | |
| 30-09-2023 | full format | 14-05-2024 | 2024-00087236 | |
| 30-09-2022 | full format | 30-03-2023 | 2023-00049025 | |
| 30-09-2021 | full format | 11-03-2022 | 2022-07500181 | |
| 30-09-2020 | full format | 02-03-2021 | 2021-06700036 | |
| 30-09-2019 | full format | 25-05-2020 | 2020-12800433 | |
| 30-09-2018 | full format | 17-05-2019 | 2019-13400076 | |
| 30-09-2017 | full format | 27-03-2018 | 2018-08000340 | |
| 30-09-2016 | full format | 23-03-2017 | 2017-07000067 |