PROJECT KASTER
InactiveFinancials · financial year 2025, abbreviated format
Equity
€69,895▲ 104%
2024 · €34,258
Total assets
€629,907▼ 0.1%
2024 · €630,773
Net result
€35,638▼ 1.7%
2024 · €36,251
Working capital
-€370,353▲ 0.8%
2024 · -€373,475
Trend over the years
2022 to 2025, 4 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€58,430
2025
Net result€35,638
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€629,907
2025
Equity€69,895
2025
Debt€560,011
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€370,353
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
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
Line2022202320242025
Operating result-€1,180--€1,440▼ 22.0%€57,181€58,430▲ 2.2%
Net result-€1,180--€5,813▼ 392%€36,251€35,638▼ 1.7%
Equity€3,820--€1,993€34,258€69,895▲ 104%
Total assets€323,820-€617,061▲ 90.6%€630,773▲ 2.2%€629,907▼ 0.1%
Debt€320,000-€619,055▲ 93.5%€596,516▼ 3.6%€560,011▼ 6.1%
Working capital-€317,409--€334,179▼ 5.3%-€373,475▼ 11.8%-€370,353▲ 0.8%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €629,907
Fixed assets
€612,369 ▼ 1.4%
Current assets
€17,538 ▲ 82.5%
Equity and liabilities €629,907
Equity
€69,895 ▲ 104%
Debt
€560,011 ▼ 6.1%
Debt's share of the balance-sheet total falls from 94.6% to 88.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€67,223▲
2024 · €65,353
Cash flow
€44,431=
2024 · €44,423
Current ratio
0.05▲
2024 · 0.03
Debt to equity
8.01▼
2024 · 17.41
ROE
51.0%▼
2024 · 105.8%
ROA
5.7%▼
2024 · 5.7%
Interest coverage
6.22▲
2024 · 5.29
Debt ≤ 1 year
€387,891▲
2024 · €383,086
Debt > 1 year
€172,121▼
2024 · €213,430
Income taxes
€11,991▲
2024 · €8,574
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €8,172 | €8,793 | ▲ 7.6% |
| Other operating charges640/8 | €241 | €653 | €85 | €0 | ▼ 100% |
| Gross operating margin9900 | -€939 | -€787 | €65,438 | €67,223 | ▲ 2.7% |
| Operating profit (loss)9901 | -€1,180 | -€1,440 | €57,181 | €58,430 | ▲ 2.2% |
| Financial charges65/66B | - | €4,373 | €12,356 | €10,801 | ▼ 12.6% |
| Recurring financial charges65 | - | €4,373 | €12,356 | €10,801 | ▼ 12.6% |
| Profit (loss) for the period before taxes9903 | -€1,180 | -€5,813 | €44,825 | €47,629 | ▲ 6.3% |
| Income taxes67/77 | - | - | €8,574 | €11,991 | ▲ 39.8% |
| Profit (loss) for the period9904 | -€1,180 | -€5,813 | €36,251 | €35,638 | ▼ 1.7% |
| Profit (loss) for the period to be appropriated9905 | -€1,180 | -€5,813 | €36,251 | €35,638 | ▼ 1.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €323,820 | €617,061 | €630,773 | €629,907 | ▼ 0.1% |
| Fixed assets21/28 | €321,229 | €585,149 | €621,162 | €612,369 | ▼ 1.4% |
| Tangible fixed assets22/27 | €316,729 | €580,649 | €616,662 | €607,869 | ▼ 1.4% |
| Land and buildings22 | €316,729 | €580,649 | €616,662 | €607,869 | ▼ 1.4% |
| Financial fixed assets28 | €4,500 | €4,500 | €4,500 | €4,500 | = |
| Current assets29/58 | €2,591 | €31,912 | €9,612 | €17,538 | ▲ 82.5% |
| Amounts receivable within one year40/41 | - | €1,436 | €579 | €60 | ▼ 89.7% |
| Trade receivables40 | - | €726 | €0 | - | - |
| Other amounts receivable41 | - | €710 | €579 | €60 | ▼ 89.7% |
| Cash at bank and in hand54/58 | €2,591 | €30,476 | €9,032 | €17,426 | ▲ 92.9% |
| Deferred charges and accrued income490/1 | - | - | - | €52 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €323,820 | €617,061 | €630,773 | €629,907 | ▼ 0.1% |
| Equity10/15 | €3,820 | -€1,993 | €34,258 | €69,895 | ▲ 104% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | - | €29,258 | €64,895 | ▲ 122% |
| Distributable reserves133 | - | - | €29,258 | €64,895 | ▲ 122% |
| Profit (loss) carried forward14 | -€1,180 | -€6,993 | €0 | - | - |
| Amounts payable17/49 | €320,000 | €619,055 | €596,516 | €560,011 | ▼ 6.1% |
| Amounts payable after more than one year17 | - | €252,963 | €213,430 | €172,121 | ▼ 19.4% |
| Financial debts170/4 | - | €252,963 | €213,430 | €172,121 | ▼ 19.4% |
| Amounts payable within one year42/48 | €320,000 | €366,091 | €383,086 | €387,891 | ▲ 1.3% |
| Current portion of amounts payable after more than one year42 | - | €37,835 | €39,534 | €41,309 | ▲ 4.5% |
| Trade debts44 | - | €666 | €387 | €0 | ▼ 100% |
| Suppliers440/4 | - | €666 | €387 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | €574 | €3,991 | ▲ 595% |
| Taxes450/3 | - | - | €574 | €3,991 | ▲ 595% |
| Other amounts payable47/48 | €320,000 | €327,591 | €342,591 | €342,591 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,180 | -€5,813 | €36,251 | €35,638 | ▼ 1.7% |
| + Depreciation and write-downs630 | - | - | €8,172 | €8,793 | ▲ 7.6% |
| Operating cash flow (approximation) | -€1,180 | -€5,813 | €44,423 | €44,431 | = |
| Investment in fixed assets (approximation) | - | -€263,921 | -€44,184 | €0 | - |
| Change in cash | - | €27,885 | -€21,444 | €8,394 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00235688 |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00245522 |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00189980 |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00288713 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.