Red Thread
Annual accounts 2025
micro format, filed on 24-07-2026, 7 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €54,000 and €210,000.
Money flows
no detail for 2025Balance sheet
balance sheet total €301,643 on 31-12-2025in euro
in euro
Position in the sector
80.0%
Higher than 78% of 8,614 companies in 2025.
5.01
Higher than 78% of 8,290 companies in 2025.
4.0%
Higher than 36% of 8,399 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
301,643 | 344,269 | 365,022 | 384,754 | 309,808 | 270,121 | 242,898 | 223,285 | 263,171 | 231,379 | 133,981 | 101,345 | 90,314 | 120,007 | 94,960 | |
21/28 |
- | - | - | - | - | 361 | 721 | - | - | 3,926 | 7,852 | 11,778 | 16,337 | 1,267 | - | |
22/27 |
- | - | - | - | - | 361 | 721 | - | - | 3,926 | 7,852 | 11,778 | 16,337 | 1,267 | - | |
23 |
- | - | - | - | - | 361 | 721 | - | - | - | - | - | 633 | 1,267 | - | |
24 |
- | - | - | - | - | - | - | - | - | 3,926 | 7,852 | 11,778 | 15,704 | - | - | |
29/58 |
301,643 | 344,269 | 365,022 | 384,754 | 309,808 | 269,760 | 242,176 | 223,285 | 263,171 | 227,453 | 126,129 | 89,567 | 73,977 | 118,740 | 94,960 | |
40/41 |
112,343 | 101,315 | 125,380 | 103,507 | 105,911 | 140,142 | 129,955 | 120,737 | 142,368 | 104,110 | 63,611 | 60,270 | 8,478 | 27,789 | 24,079 | |
40 |
94,146 | 88,843 | 103,137 | 85,893 | 79,979 | 114,898 | 91,786 | 71,277 | 103,564 | 70,635 | 28,060 | 38,750 | 8,478 | 27,789 | 24,079 | |
41 |
18,197 | 12,472 | 22,243 | 17,613 | 25,932 | 25,244 | 38,169 | 49,460 | 38,804 | 33,474 | 35,551 | 21,520 | - | - | - | |
54/58 |
176,973 | 219,004 | 239,642 | 281,248 | 203,897 | 129,618 | 112,222 | 102,548 | 114,364 | 122,123 | 62,518 | 29,297 | 65,499 | 90,952 | 69,936 | |
490/1 |
12,327 | 23,950 | - | - | - | - | - | - | 6,440 | 1,220 | - | - | - | - | 945 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
301,643 | 344,269 | 365,022 | 384,754 | 309,808 | 270,121 | 242,898 | 223,285 | 263,171 | 231,379 | 133,981 | 101,345 | 90,314 | 120,007 | 94,960 | |
10/15 |
241,377 | 229,173 | 269,549 | 260,889 | 211,352 | 177,888 | 156,933 | 141,152 | 127,133 | 116,494 | 95,554 | 84,870 | 46,718 | 69,234 | 35,756 | |
10/11 |
30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 30,950 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | 43,300 | 43,300 | 43,300 | 43,300 | 43,300 | 43,300 | 43,300 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | |
13 |
210,427 | 198,223 | 238,599 | 229,939 | 180,402 | 146,938 | 125,983 | 110,202 | 96,183 | 85,544 | 64,604 | 53,920 | 40,518 | 63,034 | 29,556 | |
130/1 |
4,330 | 4,330 | 4,330 | 4,330 | 4,330 | 4,330 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 4,330 | 4,330 | 4,330 | 4,330 | 4,330 | 4,330 | 4,330 | 1,855 | 1,855 | 1,855 | |
1311 |
4,330 | 4,330 | 4,330 | 4,330 | 4,330 | - | - | - | - | - | - | - | - | - | - | |
133 |
206,097 | 193,893 | 234,269 | 225,609 | 176,072 | 142,608 | 121,653 | 105,872 | 91,853 | 81,214 | 60,274 | 49,590 | 38,663 | 61,179 | 27,701 | |
14 |
0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
60,267 | 115,096 | 95,473 | 123,866 | 98,457 | 92,233 | 85,965 | 82,133 | 136,038 | 114,885 | 38,427 | 16,474 | 43,596 | 50,773 | 59,204 | |
42/48 |
60,267 | 115,096 | 95,473 | 123,866 | 98,457 | 92,233 | 85,965 | 82,133 | 136,038 | 114,885 | 38,427 | 16,474 | 43,596 | 50,773 | 59,204 | |
44 |
46,172 | 37,583 | 75,281 | 46,777 | 49,522 | 55,250 | 51,883 | 43,750 | 76,385 | 64,821 | 32,428 | 11,658 | 8,332 | 4,751 | 12,783 | |
440/4 |
46,172 | 37,583 | 75,281 | 46,777 | 49,522 | 55,250 | 51,883 | 43,750 | 76,385 | 64,821 | 32,428 | 11,658 | 8,332 | 4,751 | 12,783 | |
45 |
14,094 | 19,866 | 20,192 | 42,088 | 16,934 | 18,982 | 14,082 | 14,382 | 24,653 | 14,064 | 5,999 | 4,817 | 9,993 | 12,281 | 22,081 | |
450/3 |
14,094 | 19,866 | 20,192 | 42,088 | 16,934 | 18,982 | 14,082 | 14,382 | 24,653 | 14,064 | 5,999 | 4,817 | 9,993 | 12,281 | 22,081 | |
47/48 |
0 | 57,647 | - | 35,000 | 32,000 | 18,000 | 20,000 | 24,000 | 35,000 | 36,000 | - | - | 25,271 | 33,741 | 24,340 | |
| Income statement | ||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 149,184 | |
76A |
- | - | - | - | 3,750 | - | - | - | - | - | - | - | - | - | - | |
9900 |
20,647 | 30,487 | 12,383 | 101,097 | 74,697 | 42,219 | 40,346 | 40,594 | 54,440 | 69,598 | 18,149 | 21,803 | 11,999 | 43,768 | 46,011 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 103,323 | |
630 |
- | - | - | - | 361 | 361 | 361 | - | 3,926 | 3,926 | 3,926 | 4,559 | 4,559 | 633 | - | |
640/8 |
879 | 781 | 759 | 874 | 1,482 | 291 | 1,141 | 628 | 623 | 617 | 705 | 703 | 1,195 | 267 | 89 | |
9901 |
19,767 | 29,705 | 11,624 | 100,222 | 72,855 | 41,568 | 38,844 | 39,966 | 49,891 | 65,055 | 13,518 | 16,540 | 6,244 | 42,868 | 45,922 | |
75/76B |
973 | 1,005 | 1,378 | 1,501 | 4,208 | 3,156 | 3,777 | 4,033 | 3,076 | 4,067 | 2,527 | 1,769 | 576 | 101 | 46 | |
75 |
973 | 1,005 | 1,378 | 1,501 | 1,653 | 3,156 | 3,777 | 4,033 | 3,076 | 4,067 | 2,527 | 1,769 | 576 | 101 | 46 | |
76B |
- | - | - | - | 2,555 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
3,545 | 2,280 | 400 | 1,300 | 715 | 383 | 650 | 260 | 1,734 | 1,452 | 171 | 103 | 253 | 514 | 111 | |
65 |
3,545 | 2,280 | 400 | 1,300 | 715 | 383 | 650 | 260 | 1,734 | 1,452 | 171 | 103 | 253 | 514 | 111 | |
9903 |
17,196 | 28,430 | 12,601 | 100,423 | 76,348 | 44,341 | 41,971 | 43,738 | 51,233 | 67,670 | 15,874 | 18,206 | 6,567 | 42,454 | 45,857 | |
67/77 |
4,992 | 8,125 | 3,942 | 15,886 | 10,884 | 8,386 | 6,190 | 5,720 | 5,593 | 10,730 | 5,190 | 4,804 | 1,583 | 8,977 | 16,301 | |
9904 |
12,204 | 20,305 | 8,660 | 84,537 | 65,464 | 35,955 | 35,781 | 38,018 | 45,640 | 56,940 | 10,684 | 13,402 | 4,984 | 33,478 | 29,556 | |
9905 |
12,204 | 20,305 | 8,660 | 84,537 | 65,464 | 35,955 | 35,781 | 38,018 | 45,640 | 56,940 | 10,684 | 13,402 | 4,984 | 33,478 | 29,556 | |
| Appropriation of the result | ||||||||||||||||
9906 |
12,204 | 20,305 | 8,660 | 84,537 | 65,464 | 35,955 | 35,781 | 38,018 | 45,640 | 56,940 | 10,684 | 13,402 | 4,984 | 33,478 | 29,556 | |
791/2 |
0 | 60,681 | - | - | - | - | - | - | - | - | - | - | 27,500 | - | - | |
691/2 |
12,204 | 20,305 | 8,660 | 49,537 | 33,464 | 20,955 | 15,781 | 14,018 | 10,640 | 20,940 | 10,684 | 13,402 | 4,984 | 33,478 | 29,556 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 2,475 | - | - | 1,855 | |
6921 |
12,204 | 20,305 | 8,660 | 49,537 | 33,464 | 20,955 | 15,781 | 14,018 | 10,640 | 20,940 | 10,684 | 10,927 | 4,984 | 33,478 | 27,701 | |
694/7 |
0 | 60,681 | - | 35,000 | 32,000 | 15,000 | 20,000 | 24,000 | 35,000 | 36,000 | - | - | 27,500 | - | - | |
694 |
0 | 60,681 | - | - | - | - | - | - | - | - | - | - | 27,500 | - | - | |
695 |
- | - | - | 35,000 | 32,000 | 15,000 | 20,000 | 24,000 | 35,000 | 36,000 | - | - | - | - | - | |
| Document | ||||||||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00360839 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00419517 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00390315 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00429926 | |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20278276 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-43800358 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-65600337 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60100184 | |
| 31-12-2017 | micro format | 28-09-2018 | 2018-66900256 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-57900356 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-57300373 | |
| 31-12-2014 | full format | 27-08-2015 | 2015-53000361 | |
| 31-12-2013 | full format | 29-07-2014 | 2014-38500405 | |
| 31-12-2012 | full format | 26-07-2013 | 2013-36400406 | |
| 31-12-2011 | full format | 25-07-2012 | 2012-34400084 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 73,216 | 41,928 | 39,205 | - | 53,817 | 68,981 | 17,444 | 21,099 | 10,803 | 43,501 | - | ||
| - | - | - | - | 65,824 | 36,315 | 36,142 | - | 49,566 | 60,866 | 14,610 | 17,961 | 9,543 | 34,111 | - | ||
| - | - | - | - | 0 | 0 | 1,082 | - | 0 | -0 | 0 | 0 | 19,630 | 1,900 | - | ||
| -42,031 | -20,638 | -41,606 | 77,351 | 74,280 | 17,396 | 9,674 | -11,816 | -7,759 | 59,605 | 33,221 | -36,202 | -25,452 | 21,016 | - | ||
| 241,377 | 229,173 | 269,549 | 260,889 | 211,352 | 177,527 | 156,212 | 141,152 | 127,133 | 112,568 | 87,702 | 73,092 | 30,381 | 67,967 | 35,756 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 30.8% | ||
| 80.0% | 66.6% | 73.8% | 67.8% | 68.2% | 65.9% | 64.6% | 63.2% | 48.3% | 50.3% | 71.3% | 83.7% | 51.7% | 57.7% | 37.7% | ||
| 5.01 | 2.99 | 3.82 | 3.11 | 3.15 | 2.92 | 2.82 | 2.72 | 1.93 | 1.98 | 3.28 | 5.44 | 1.70 | 2.34 | 1.60 | ||
| 0.25 | 0.50 | 0.35 | 0.47 | 0.47 | 0.52 | 0.55 | 0.58 | 1.07 | 0.99 | 0.40 | 0.19 | 0.93 | 0.73 | 1.66 | ||
| 5.1% | 8.9% | 3.2% | 32.4% | 31.0% | 20.2% | 22.8% | 26.9% | 35.9% | 48.9% | 11.2% | 15.8% | 10.7% | 48.4% | 82.7% | ||
| 4.0% | 5.9% | 2.4% | 22.0% | 21.1% | 13.3% | 14.7% | 17.0% | 17.3% | 24.6% | 8.0% | 13.2% | 5.5% | 27.9% | 31.1% | ||
| - | - | - | - | over 100 | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 59 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 45 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Insights on Red Thread
The operating result for 2025 is 33% lower than in 2024.
Debt's share of the balance-sheet total falls from 33.4% to 20.0%. Equity is higher and debt is lower.