Financials · financial year 2025, full format
Annual accounts 2025 filed on 08-06-2026 PDF all 3 filings
Turnover
≈ €79,000
Estimated: probably between €48,000 and €120,000
EBIT margin
Not included in this filing
Net result
€99,771▼ 32.9%
2024 · €148,684
Working capital
-€420,894▼ 8.2%
2024 · -€388,930
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€27,987
▲ 25.2%
2025
20232025
Net result
€99,771
▼ 32.9%
2025
middle half of the sector
20232025
Equity
€455,727
▲ 28.0%
2025
middle half of the sector
20232025
Total assets
€1.2m
▲ 0.8%
2025
middle half of the sector
20232025
Debt
€715,095
▼ 11.3%
2025
20232025
Working capital
-€420,894
▼ 8.2%
2025
lowest quarter of the sector
20232025
Solvency
38.9%
▲ 8.3pp
2025
middle half of the sector
20232025
Current ratio
0.06
▼ 0.03
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
8.5%
▼ 4.3pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€0.02m-€0.02m▲ 6.5%€0.03m▲ 25.2%
Net result€0.1mwithin the sector's middle half-€0.1mwithin the sector's middle half▲ 38.6%€0.1mwithin the sector's middle half▼ 32.9%
Equity€0.2mwithin the sector's middle half-€0.4mwithin the sector's middle half▲ 71.7%€0.5mwithin the sector's middle half▲ 28.0%
Total assets€1.2mwithin the sector's middle half-€1.2mwithin the sector's middle half▲ 0.5%€1.2mwithin the sector's middle half▲ 0.8%
Debt€0.9m-€0.8m▼ 15.1%€0.7m▼ 11.3%
Working capital-€0.4mbelow the sector's middle half--€0.4mbelow the sector's middle half▲ 8.6%-€0.4mbelow the sector's middle half▼ 8.2%
Solvency17.9%below the sector's middle half-30.6%within the sector's middle half▲ 12.7pp38.9%within the sector's middle half▲ 8.3pp
Current ratio0.07below the sector's middle half-0.08below the sector's middle half▲ 0.010.06below the sector's middle half▼ 0.03
Return on assets (ROA)9.3%within the sector's middle half-12.8%within the sector's middle half▲ 3.5pp8.5%within the sector's middle half▼ 4.3pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 25% higher than in 2024 and the highest since 2023. It is the second rise in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.1m ▲ 1.7%
Current assets
€24,515 ▼ 28.5%
Equity and liabilities €1.2m
Equity
€455,727 ▲ 28.0%
Debt
€715,095 ▼ 11.3%
Debt's share of the balance-sheet total falls from 69.4% to 61.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
21.9%▼
2024 · 41.8%
Debt ≤ 1 year
€445,409▲
2024 · €423,211
Debt > 1 year
€269,686▼
2024 · €382,677
Income taxes
€0▼
2024 · €77
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Debts secured on the company's own assets | €595,181 | €491,114 | €391,108 |
| Pledge on other assets, amount secured | €595,181 | €491,114 | €391,108 |
| Carrying value of the other pledged assets | €1.1m | €1.1m | €1.1m |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Financial fixed assets | €1.1m | €4,409 | €19,469 |
| Depreciation and write-downs of the year | €688 | €725 | €725 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €688 | €725 | €725 | = |
| Other operating charges640/8 | €384 | €193 | €1,516 | ▲ 684% |
| Gross operating margin9900 | €22,062 | €23,264 | €30,228 | ▲ 29.9% |
| Operating profit (loss)9901 | €20,990 | €22,345 | €27,987 | ▲ 25.2% |
| Financial income75/76B | €124,000 | €150,000 | €90,000 | ▼ 40.0% |
| Recurring financial income75 | €124,000 | €150,000 | €90,000 | ▼ 40.0% |
| Financial charges65/66B | €37,614 | €23,585 | €18,215 | ▼ 22.8% |
| Recurring financial charges65 | €37,614 | €23,585 | €18,215 | ▼ 22.8% |
| Profit (loss) for the period before taxes9903 | €107,377 | €148,760 | €99,771 | ▼ 32.9% |
| Income taxes67/77 | €104 | €77 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €107,272 | €148,684 | €99,771 | ▼ 32.9% |
| Profit (loss) for the period to be appropriated9905 | €107,272 | €148,684 | €99,771 | ▼ 32.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.2m | €1.2m | €1.2m | ▲ 0.8% |
| Formation expenses20 | €0.001m | €0.001m | €38 | ▼ 95.1% |
| Fixed assets21/28 | €1.1m | €1.1m | €1.1m | ▲ 1.7% |
| Financial fixed assets28 | €1.1m | €1.1m | €1.1m | ▲ 1.7% |
| Current assets29/58 | €0.03m | €0.03m | €0.02m | ▼ 28.5% |
| Amounts receivable within one year40/41 | €0.03m | €0.03m | €0.02m | ▼ 26.7% |
| Trade receivables40 | €0.03m | €0.03m | €0.02m | ▼ 28.9% |
| Other amounts receivable41 | - | - | €0.001m | - |
| Cash at bank and in hand54/58 | €0.002m | €0.005m | €318 | ▼ 93.3% |
| Deferred charges and accrued income490/1 | - | €57 | €0.003m | ▲ 46× |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.2m | ▲ 0.8% |
| Equity10/15 | €0.2m | €0.4m | €0.5m | ▲ 28.0% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | = |
| Capital10 | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.3m | ▲ 40.6% |
| Amounts payable17/49 | €0.9m | €0.8m | €0.7m | ▼ 11.3% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.3m | ▼ 29.5% |
| Financial debts170/4 | €0.5m | €0.4m | €0.3m | ▼ 29.5% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.4m | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | €0.1m | €0.1m | €0.1m | ▲ 12.0% |
| Trade debts44 | €0.003m | €0.001m | €0.003m | ▲ 150% |
| Suppliers440/4 | €0.003m | €0.001m | €0.003m | ▲ 150% |
| Taxes, remuneration and social security45 | €0.004m | €0.005m | €0.005m | ▼ 4.7% |
| Taxes450/3 | €0.004m | €0.005m | €0.005m | ▼ 4.7% |
| Other amounts payable47/48 | €0.3m | €0.3m | €0.3m | ▲ 2.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €107,272 | €148,684 | €99,771 | ▼ 32.9% |
| + Depreciation and write-downs630 | €688 | €725 | €725 | = |
| Operating cash flow (approximation) | €107,960 | €149,409 | €100,496 | ▼ 32.7% |
| Investment in fixed assets (approximation) | - | -€5,135 | -€20,194 | ▼ 293% |
| Change in cash | - | €2,444 | -€4,424 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.