PULSE
InactiveFinancials · financial year 2025, full format, standalone accounts
Turnover
€1.1m▼ 58.2%
2022 · €2.7m
EBIT margin
62.1%▲ 13.9pp
2022 · 48.1%
Net result
-€6,770▲ 28.5%
2024 · -€9,463
Working capital
€34,611▼ 16.4%
2024 · €41,380
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €6,100 in 2025 against €7,952 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€1.1m
2023
Operating result-€0.006m
2025
Net result-€0.007m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.04m
2025
Equity€0.03m
2025
Debt€0.001m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.03m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin62.1%
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)1.4
2023
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
Turnover€3.5m-€3.5m▲ 0.6%€3.3m▼ 7.7%€2.7m▼ 18.3%€1.1m▼ 58.2%
Operating result€1.4m-€1.4m▲ 1.9%€1.4m▲ 0.5%€1.3m▼ 9.3%€0.7m▼ 46.0%-€0.008m-€0.006m▲ 23.3%
Net result€1.7m-€0.3m▼ 84.0%€4.4m▲ 16×€0.4m▼ 90.8%€97.7m▲ 240×-€0.009m-€0.007m▲ 28.5%
EBIT margin39.4%-39.9%▲ 0.5pp43.4%▲ 3.5pp48.1%▲ 4.7pp62.1%▲ 13.9pp
Equity€33.2m-€33.4m▲ 0.8%€37.8m▲ 13.2%€38.2m▲ 1.1%€0.05m▼ 99.9%€0.04m▼ 18.6%€0.03m▼ 16.4%
Total assets€75.2m-€75.2m=€75.5m▲ 0.4%€76.0m▲ 0.6%€0.3m▼ 99.6%€0.04m▼ 86.5%€0.04m▼ 14.9%
Debt€41.5m-€41.3m▼ 0.5%€37.2m▼ 9.8%€37.7m▲ 1.2%€0.3m▼ 99.3%€0.001m▼ 99.7%€0.001m▲ 65.9%
Working capital-€7.2m--€9.6m▼ 33.3%-€9.6m▼ 0.2%-€11.5m▼ 19.6%€0.05m€0.04m▼ 23.5%€0.03m▼ 16.4%
Staff (FTE)9-8.7▼ 3.3%6.5▼ 25.3%4.9▼ 24.6%1.4▼ 71.4%
Why a figure moved sharply
- 2023 Equity -100%, Total assets -100% on 2022. Capital reduction of €29,938,500 (Official Gazette 05-01-2023).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €35,876
Equity
€34,611 ▼ 16.4%
Debt
€1,265 ▲ 65.9%
Debt's share of the balance-sheet total rises from 1.8% to 3.5%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
28.36▼
2024 · 55.26
Debt to equity
0.04▲
2024 · 0.02
ROE
-19.6%▲
2024 · -22.9%
ROA
-18.9%▲
2024 · -22.5%
Debt ≤ 1 year
€1,265▲
2024 · €763
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 |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €2.7m | €1.1m | - | - | - |
| Turnover70 | €3.5m | €3.5m | €3.3m | €2.7m | €1.1m | - | - | - |
| Other operating income74 | - | - | - | €0.03m | €0.006m | - | - | - |
| Operating charges60/66A | - | - | - | €1.4m | €0.4m | €0.008m | €0.006m | ▼ 23.3% |
| Services and other goods61 | - | - | - | €1.0m | €0.3m | €0.007m | €0.003m | ▼ 49.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.2m | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.03m | €0.03m | €308 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.4m | -€0.04m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | ▼ 11.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.002m | - |
| Operating profit (loss)9901 | €1.4m | €1.4m | €1.4m | €1.3m | €0.7m | -€0.008m | -€0.006m | ▲ 23.3% |
| Financial income75/76B | - | - | - | €0 | €97.3m | €19 | - | - |
| Recurring financial income75 | €1.5m | €110 | €4.0m | €0 | €29.1m | €19 | - | - |
| Income from financial fixed assets750 | - | - | - | - | €29.1m | €19 | - | - |
| Other financial income752/9 | - | - | - | €0 | €91 | - | - | - |
| Non-recurring financial income76B | - | - | - | - | €68.2m | - | - | - |
| Financial charges65/66B | - | - | - | €0.7m | €0.1m | €0.002m | €0.001m | ▼ 56.2% |
| Recurring financial charges65 | €1.1m | €1.0m | €0.9m | €0.7m | €0.1m | €0.002m | €0.001m | ▼ 56.2% |
| Debt charges650 | €1.1m | €1.0m | €0.9m | €0.7m | €0.1m | €0.002m | €0.001m | ▼ 56.2% |
| Other financial charges652/9 | - | - | - | €0.001m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €1.8m | €0.4m | €4.6m | €0.6m | €97.9m | -€0.009m | -€0.007m | ▲ 28.5% |
| Income taxes67/77 | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | - | - | - |
| Taxes670/3 | - | - | - | €0.2m | €0.1m | - | - | - |
| Profit (loss) for the period9904 | €1.7m | €0.3m | €4.4m | €0.4m | €97.7m | -€0.009m | -€0.007m | ▲ 28.5% |
| Profit (loss) for the period to be appropriated9905 | €1.7m | €0.3m | €4.4m | €0.4m | €97.7m | -€0.009m | -€0.007m | ▲ 28.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €75.2m | €75.2m | €75.5m | €76.0m | €0.3m | €0.04m | €0.04m | ▼ 14.9% |
| Formation expenses20 | €0.09m | €0.06m | €0.03m | €308 | - | - | - | - |
| Fixed assets21/28 | €75.0m | €74.8m | €74.8m | €74.8m | - | - | - | - |
| Financial fixed assets28 | €75.0m | €74.8m | €74.8m | €74.8m | - | - | - | - |
| Affiliated companies280/1 | - | - | - | €74.8m | - | - | - | - |
| Participating interests280 | - | - | - | €74.8m | - | - | - | - |
| Current assets29/58 | €0.1m | €0.3m | €0.6m | €1.1m | €0.3m | €0.04m | €0.04m | ▼ 14.9% |
| Amounts receivable within one year40/41 | €0.05m | €0.04m | €0.07m | €0.6m | €0.3m | €92 | €171 | ▲ 86.2% |
| Trade receivables40 | - | - | - | €0.6m | €0.3m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.03m | €0.02m | €92 | €171 | ▲ 86.2% |
| Cash at bank and in hand54/58 | €0.07m | €0.3m | €0.5m | €0.5m | €0.009m | €0.04m | €0.04m | ▼ 15.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €75.2m | €75.2m | €75.5m | €76.0m | €0.3m | €0.04m | €0.04m | ▼ 14.9% |
| Equity10/15 | €33.2m | €33.4m | €37.8m | €38.2m | €0.05m | €0.04m | €0.03m | ▼ 16.4% |
| Contributions10/11 | €30.0m | €30.0m | €30.0m | €30.0m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €30.0m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €30.0m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €3.2m | €3.4m | €7.8m | €8.2m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.9m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.9m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €7.3m | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | - | -€0.02m | -€0.03m | -€0.03m | ▼ 25.8% |
| Provisions and deferred taxes16 | €0.5m | €0.5m | €0.4m | €0.04m | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.04m | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.04m | - | - | - | - |
| Amounts payable17/49 | €41.5m | €41.3m | €37.2m | €37.7m | €0.3m | €0.001m | €0.001m | ▲ 65.9% |
| Amounts payable after more than one year17 | €34.0m | €31.0m | €26.4m | €24.7m | - | - | - | - |
| Financial debts170/4 | - | - | - | €24.7m | - | - | - | - |
| Credit institutions173 | - | - | - | €24.7m | - | - | - | - |
| Amounts payable within one year42/48 | €7.3m | €9.9m | €10.2m | €12.6m | €0.3m | €0.001m | €0.001m | ▲ 65.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.7m | - | - | - | - |
| Trade debts44 | €0.2m | €0.08m | €0.3m | €0.6m | €0.1m | €0.001m | €0.001m | ▲ 65.9% |
| Suppliers440/4 | - | - | - | €0.6m | €0.1m | €0.001m | €0.001m | ▲ 65.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.2m | - | - | - |
| Taxes450/3 | - | - | - | €0.3m | €0.2m | - | - | - |
| Remuneration and social security454/9 | - | - | - | €0.09m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €10.0m | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.003m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.7m | €0.3m | €4.4m | €0.4m | €97.7m | -€0.009m | -€0.007m | ▲ 28.5% |
| + Depreciation and write-downs630 | €0.03m | €0.03m | €0.03m | €0.03m | €308 | - | - | - |
| Operating cash flow (approximation) | €1.7m | €0.3m | €4.4m | €0.4m | €97.7m | -€0.009m | -€0.007m | ▲ 28.5% |
| Investment in fixed assets (approximation) | - | €0.1m | -€0.03m | -€0.03m | - | - | - | - |
| Change in cash | - | €0.2m | €0.3m | -€0.03m | -€0.5m | €0.03m | -€0.006m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-08-2025 | full format | 03-03-2026 | 2026-00049329 |
| 31-08-2024 | full format | 17-03-2025 | 2025-00051112 |
| 31-08-2023 | full format | 27-02-2024 | 2024-00036039 |
| 31-08-2022 | consolidated | 24-01-2023 | 2023-00010582 |
| 31-08-2022 | full format | 13-01-2023 | 2023-00000310 |
| 31-08-2021 | full format | 22-02-2022 | 2022-06100453 |
| 31-08-2021 | consolidated | 22-02-2022 | 2022-06100501 |
| 31-08-2020 | full format | 08-03-2021 | 2021-07100233 |
| 31-08-2020 | consolidated | 08-03-2021 | 2021-07100160 |
| 31-08-2019 | full format | 27-02-2020 | 2020-05800085 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.