RADI'EAU
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-12-2025 PDF all 27 filings
Turnover
≈ €410,000
Estimated: probably between €350,000 and €540,000
EBIT margin
Not included in this filing
Net result
€86,734▲ 362%
2024 · €18,756
Working capital
-€66,464▼ 62.1%
2024 · -€41,011
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€141,592
▲ 264%
2025
20192025
Net result
€86,734
▲ 362%
2025
middle half of the sector
20192025
Equity
€303,997
▲ 39.4%
2025
middle half of the sector
20192025
Total assets
€524,517
▲ 11.6%
2025
middle half of the sector
20192025
Debt
€220,520
▼ 12.5%
2025
20192025
Working capital
-€66,464
▼ 62.1%
2025
lowest quarter of the sector
20192025
Solvency
58.0%
▲ 11.6pp
2025
middle half of the sector
20192025
Current ratio
0.58
=
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
16.5%
▲ 12.5pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€28,766--€667▲ 97.7%€25,218€55,308▲ 119%€35,184▼ 36.4%€38,865▲ 10.5%€141,592▲ 264%
Net result-€41,681-€21,803within the sector's middle half€12,236within the sector's middle half▼ 43.9%€32,953within the sector's middle half▲ 169%€9,312below the sector's middle half▼ 71.7%€18,756within the sector's middle half▲ 101%€86,734within the sector's middle half▲ 362%
Equity€125,495-€147,298within the sector's middle half▲ 17.4%€159,535within the sector's middle half▲ 8.3%€191,688within the sector's middle half▲ 20.2%€200,199within the sector's middle half▲ 4.4%€218,122within the sector's middle half▲ 9.0%€303,997within the sector's middle half▲ 39.4%
Total assets€418,501-€452,735within the sector's middle half▲ 8.2%€427,339within the sector's middle half▼ 5.6%€519,683within the sector's middle half▲ 21.6%€548,032within the sector's middle half▲ 5.5%€470,120within the sector's middle half▼ 14.2%€524,517within the sector's middle half▲ 11.6%
Debt€293,006-€305,437▲ 4.2%€267,805▼ 12.3%€327,995▲ 22.5%€347,833▲ 6.0%€251,997▼ 27.6%€220,520▼ 12.5%
Working capital-€66,166--€21,290below the sector's middle half▲ 67.8%-€9,358below the sector's middle half▲ 56.0%-€26,877below the sector's middle half▼ 187%-€34,726below the sector's middle half▼ 29.2%-€41,011below the sector's middle half▼ 18.1%-€66,464below the sector's middle half▼ 62.1%
Solvency30.0%-32.5%within the sector's middle half▲ 2.5pp37.3%within the sector's middle half▲ 4.8pp36.9%within the sector's middle half▼ 0.4pp36.5%within the sector's middle half▼ 0.4pp46.4%within the sector's middle half▲ 9.9pp58.0%within the sector's middle half▲ 11.6pp
Current ratio0.41-0.83below the sector's middle half▲ 0.420.91below the sector's middle half▲ 0.090.76below the sector's middle half▼ 0.150.78below the sector's middle half▲ 0.010.59below the sector's middle half▼ 0.190.58below the sector's middle half=
Return on assets (ROA)-10.0%-4.8%within the sector's middle half▲ 14.8pp2.9%within the sector's middle half▼ 2.0pp6.3%within the sector's middle half▲ 3.5pp1.7%below the sector's middle half▼ 4.6pp4.0%within the sector's middle half▲ 2.3pp16.5%within the sector's middle half▲ 12.5pp
Staff (FTE)0.5-0.6below the sector's middle half▲ 20.0%0.7below the sector's middle half▲ 16.7%0.7below the sector's middle half=0.7below the sector's middle half=0.7below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is over 3.6 times that of 2024 and the highest since 2019. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €524,517
Fixed assets
€432,110 ▲ 4.9%
Current assets
€92,407 ▲ 59.2%
Equity and liabilities €524,517
Equity
€303,997 ▲ 39.4%
Debt
€220,520 ▼ 12.5%
Debt's share of the balance-sheet total falls from 53.6% to 42.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€165,023▲
2024 · €62,792
Cash flow
€110,165▲
2024 · €42,683
Debt to equity
0.73▼
2024 · 1.16
ROE
28.5%▲
2024 · 8.6%
Interest coverage
11.65▲
2024 · 11.42
Debt ≤ 1 year
€158,871▲
2024 · €99,042
Debt > 1 year
€61,649▼
2024 · €152,524
Income taxes
€40,914▲
2024 · €14,673
Staff costs
€54,675▲
2024 · €50,898
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 |
| full-time | - | 0 | 0 | 0 |
| part-time | 2 | 2 | 2 | 2 |
| in full-time equivalents | 0.7 | 0.7 | 0.7 | 0.7 |
| Average over the year, in full-time equivalents | 0.7 | 0.7 | 0.7 | - |
| On a permanent contract | 2 | 2 | 2 | 2 |
| Joined | 1 | - | - | - |
| Left | 1 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €122,735 | €18,327 | €9,911 | €43,453 |
| Intangible fixed assets | €3,766 | - | - | - |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €16,458 | €24,513 | €23,927 | €23,431 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €617 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €43,964 | €48,917 | €50,898 | €54,675 | ▲ 7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,583 | €47,823 | €44,430 | €16,458 | €24,513 | €23,927 | €23,431 | ▼ 2.1% |
| Other operating charges640/8 | - | - | - | €7,006 | €1,078 | €885 | €1,151 | ▲ 30.0% |
| Non-recurring operating charges66A | - | - | - | €10,991 | €21,514 | €10,992 | €0 | ▼ 100% |
| Gross operating margin9900 | €51,846 | €79,639 | €113,822 | €133,728 | €131,206 | €125,567 | €220,849 | ▲ 75.9% |
| Operating profit (loss)9901 | -€28,766 | -€667 | €25,218 | €55,308 | €35,184 | €38,865 | €141,592 | ▲ 264% |
| Financial income75/76B | - | - | - | €573 | €618 | €62 | €215 | ▲ 245% |
| Recurring financial income75 | €21 | €344 | €2,380 | €573 | €618 | €62 | €215 | ▲ 245% |
| Financial charges65/66B | - | - | - | €13,959 | €13,969 | €5,499 | €14,159 | ▲ 157% |
| Recurring financial charges65 | €11,589 | €10,442 | €12,039 | €13,959 | €13,969 | €5,499 | €14,159 | ▲ 157% |
| Profit (loss) for the period before taxes9903 | -€40,334 | €15,806 | €15,560 | €41,922 | €21,833 | €33,429 | €127,648 | ▲ 282% |
| Income taxes67/77 | €1,347 | -€5,997 | €3,323 | €8,969 | €12,522 | €14,673 | €40,914 | ▲ 179% |
| Profit (loss) for the period9904 | -€41,681 | €21,803 | €12,236 | €32,953 | €9,312 | €18,756 | €86,734 | ▲ 362% |
| Profit (loss) for the period to be appropriated9905 | -€12,061 | €21,803 | €12,236 | €32,953 | €9,312 | €18,756 | €86,734 | ▲ 362% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €418,501 | €452,735 | €427,339 | €519,683 | €548,032 | €470,120 | €524,517 | ▲ 11.6% |
| Fixed assets21/28 | €372,860 | €351,601 | €328,517 | €434,291 | €428,105 | €412,088 | €432,110 | ▲ 4.9% |
| Intangible fixed assets21 | €85 | - | - | €3,321 | €2,567 | €1,814 | €1,061 | ▼ 41.5% |
| Tangible fixed assets22/27 | €82,701 | €61,527 | €38,442 | €140,970 | €135,538 | €120,274 | €141,049 | ▲ 17.3% |
| Plant, machinery and equipment23 | - | - | - | €17,318 | €17,200 | €12,561 | €21,621 | ▲ 72.1% |
| Furniture and vehicles24 | - | - | - | €17,246 | €10,979 | €3,547 | €22,763 | ▲ 542% |
| Leasing and similar rights25 | - | - | - | €102,350 | €91,581 | €80,812 | €70,043 | ▼ 13.3% |
| Other tangible fixed assets26 | - | - | - | €4,057 | €15,778 | €23,354 | €22,622 | ▼ 3.1% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €4,000 | - |
| Financial fixed assets28 | €290,074 | €290,074 | €290,074 | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Current assets29/58 | €45,642 | €101,133 | €98,822 | €85,392 | €119,927 | €58,031 | €92,407 | ▲ 59.2% |
| Amounts receivable within one year40/41 | €12,854 | €16,509 | €20,836 | €19,116 | €70,440 | €29,551 | €54,225 | ▲ 83.5% |
| Trade receivables40 | - | - | - | €12,867 | €56,131 | €1,335 | €11,239 | ▲ 742% |
| Other amounts receivable41 | - | - | - | €6,249 | €14,309 | €28,216 | €42,986 | ▲ 52.3% |
| Cash at bank and in hand54/58 | €24,430 | €30,712 | €43,686 | €39,924 | €30,753 | €18,062 | €31,562 | ▲ 74.7% |
| Deferred charges and accrued income490/1 | - | - | - | €26,352 | €18,734 | €10,418 | €6,619 | ▼ 36.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €418,501 | €452,735 | €427,339 | €519,683 | €548,032 | €470,120 | €524,517 | ▲ 11.6% |
| Equity10/15 | €125,495 | €147,298 | €159,535 | €191,688 | €200,199 | €218,122 | €303,997 | ▲ 39.4% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,864 | €1,864 | €13,864 | €28,864 | €37,364 | €54,364 | €140,364 | ▲ 158% |
| Non-distributable reserves130/1 | - | - | - | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Reserves not available under the articles1311 | - | - | - | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Distributable reserves133 | - | - | - | €27,000 | €35,500 | €52,500 | €138,500 | ▲ 164% |
| Profit (loss) carried forward14 | €111,231 | €133,034 | €133,270 | €150,423 | €150,435 | €151,358 | €151,233 | ▼ 0.1% |
| Amounts payable17/49 | €293,006 | €305,437 | €267,805 | €327,995 | €347,833 | €251,997 | €220,520 | ▼ 12.5% |
| Amounts payable after more than one year17 | €179,149 | €183,014 | €159,625 | €215,726 | €192,656 | €152,524 | €61,649 | ▼ 59.6% |
| Financial debts170/4 | - | - | - | €215,726 | €192,656 | €152,524 | €61,649 | ▼ 59.6% |
| Amounts payable within one year42/48 | €111,808 | €122,423 | €108,180 | €112,270 | €154,653 | €99,042 | €158,871 | ▲ 60.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €75,527 | €63,052 | €54,805 | €18,906 | ▼ 65.5% |
| Financial debts43 | - | - | - | - | €45,438 | €2,900 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | €45,438 | €2,900 | €0 | ▼ 100% |
| Trade debts44 | €10,935 | €11,309 | €14,480 | €18,047 | €30,591 | €28,425 | €20,096 | ▼ 29.3% |
| Suppliers440/4 | - | - | - | €18,047 | €30,591 | €28,425 | €20,096 | ▼ 29.3% |
| Taxes, remuneration and social security45 | - | - | - | €17,096 | €14,772 | €11,209 | €7,365 | ▼ 34.3% |
| Taxes450/3 | - | - | - | €7,110 | €8,522 | €4,710 | €258 | ▼ 94.5% |
| Remuneration and social security454/9 | - | - | - | €9,986 | €6,250 | €6,499 | €7,107 | ▲ 9.4% |
| Other amounts payable47/48 | - | - | - | €1,600 | €800 | €1,703 | €112,505 | ▲ 66× |
| Accrued charges and deferred income492/3 | - | - | - | - | €523 | €431 | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€41,681 | €21,803 | €12,236 | €32,953 | €9,312 | €18,756 | €86,734 | ▲ 362% |
| + Depreciation and write-downs630 | €60,583 | €47,823 | €44,430 | €16,458 | €24,513 | €23,927 | €23,431 | ▼ 2.1% |
| Operating cash flow (approximation) | €18,903 | €69,625 | €56,666 | €49,411 | €33,824 | €42,683 | €110,165 | ▲ 158% |
| Investment in fixed assets (approximation) | - | -€26,564 | -€21,345 | -€122,232 | -€18,327 | -€7,910 | -€43,453 | ▼ 449% |
| Change in cash | - | €6,282 | €12,974 | -€3,762 | -€9,172 | -€12,690 | €13,500 | - |
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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 18-12-2025 | 2025-00584403 | |
| 30-06-2024 | full format | 31-01-2025 | 2025-00019588 | |
| 30-06-2023 | full format | 28-01-2024 | 2024-00008453 | |
| 30-06-2022 | full format | 31-01-2023 | 2023-00013819 | |
| 30-06-2021 | full format | 28-01-2022 | 2022-02300382 | |
| 30-06-2020 | full format | 29-01-2021 | 2021-02500007 | |
| 30-06-2019 | full format | 13-01-2020 | 2020-00800029 | |
| 30-06-2018 | full format | 08-11-2018 | 2018-72000179 | |
| 30-06-2017 | full format | 23-01-2018 | 2018-02000204 | |
| 30-06-2016 | full format | 22-11-2016 | 2016-68200309 |