SCIELO
InactiveFinancials · financial year 2025, micro format
Equity
€45,810▲ 7.1%
2024 · €42,772
Total assets
€52,913▼ 53.3%
2024 · €113,270
Net result
€3,038▼ 92.3%
2024 · €39,575
Working capital
€45,810▼ 50.9%
2024 · €93,279
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €2,341 after €52,160 in 2024, the lowest 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-€2,341
2025
Net result€3,038
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€52,913
2025
Equity€45,810
2025
Debt€7,103
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€45,810
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
Line20182019202020212022202320242025
Operating result€123,263--€21,381€83,753€36,669▼ 56.2%€100,135▲ 173%€110,574▲ 10.4%€52,160▼ 52.8%-€2,341
Net result€112,491--€32,074€74,316€30,399▼ 59.1%€95,723▲ 215%€112,271▲ 17.3%€39,575▼ 64.8%€3,038▼ 92.3%
Equity-€277,438--€309,512▼ 11.6%-€235,195▲ 24.0%-€204,797▲ 12.9%-€109,074▲ 46.7%€3,197€42,772▲ 1,238%€45,810▲ 7.1%
Total assets€148,310-€124,628▼ 16.0%€93,443▼ 25.0%€147,986▲ 58.4%€143,162▼ 3.3%€75,680▼ 47.1%€113,270▲ 49.7%€52,913▼ 53.3%
Debt€425,748-€434,140▲ 2.0%€328,638▼ 24.3%€352,783▲ 7.3%€252,236▼ 28.5%€72,483▼ 71.3%€70,498▼ 2.7%€7,103▼ 89.9%
Working capital€54,215-€71,072▲ 31.1%€93,443▲ 31.5%€46,697▼ 50.0%€40,416▼ 13.5%€51,079▲ 26.4%€93,279▲ 82.6%€45,810▼ 50.9%
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
Equity and liabilities €52,913
Equity
€45,810 ▲ 7.1%
Debt
€7,103 ▼ 89.9%
Debt's share of the balance-sheet total falls from 62.2% to 13.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€2,341▼
2024 · €53,225
Cash flow
€3,038▼
2024 · €40,640
Current ratio
7.45▲
2024 · 6.51
Debt to equity
0.16▼
2024 · 1.65
ROE
6.6%▼
2024 · 92.5%
ROA
5.7%▼
2024 · 34.9%
Debt ≤ 1 year
€7,103▼
2024 · €16,938
Debt > 1 year
€0▼
2024 · €52,000
Income taxes
€1,520▼
2024 · €11,307
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €47 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €144 | €1,066 | €1,066 | €0 | ▼ 100% |
| Other operating charges640/8 | - | €480 | - | €468 | €469 | €516 | €638 | €1,191 | ▲ 86.8% |
| Gross operating margin9900 | €123,741 | -€20,901 | €84,220 | €37,136 | €100,748 | €112,156 | €53,863 | -€1,150 | - |
| Operating profit (loss)9901 | €123,263 | -€21,381 | €83,753 | €36,669 | €100,135 | €110,574 | €52,160 | -€2,341 | - |
| Financial income75/76B | - | - | - | €0 | €180 | €460 | €312 | €6,900 | ▲ 2,111% |
| Recurring financial income75 | - | - | - | €0 | €180 | €460 | €312 | €6,900 | ▲ 2,111% |
| Financial charges65/66B | - | €10,693 | - | €6,270 | €4,592 | -€1,237 | €1,590 | €0 | ▼ 100% |
| Recurring financial charges65 | €10,773 | €10,693 | €9,437 | €6,270 | €4,592 | -€1,237 | €1,590 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €112,491 | -€32,074 | €74,316 | €30,399 | €95,723 | €112,271 | €50,882 | €4,559 | ▼ 91.0% |
| Income taxes67/77 | - | - | - | - | - | - | €11,307 | €1,520 | ▼ 86.6% |
| Profit (loss) for the period9904 | €112,491 | -€32,074 | €74,316 | €30,399 | €95,723 | €112,271 | €39,575 | €3,038 | ▼ 92.3% |
| Profit (loss) for the period to be appropriated9905 | €112,491 | -€32,074 | €74,316 | €30,399 | €95,723 | €112,271 | €39,575 | €3,038 | ▼ 92.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €148,310 | €124,628 | €93,443 | €147,986 | €143,162 | €75,680 | €113,270 | €52,913 | ▼ 53.3% |
| Fixed assets21/28 | - | - | - | - | €5,184 | €4,118 | €3,053 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | - | - | - | €5,184 | €4,118 | €3,053 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | - | €5,184 | €4,118 | €3,053 | €0 | ▼ 100% |
| Current assets29/58 | €148,310 | €124,628 | €93,443 | €147,986 | €137,979 | €71,562 | €110,217 | €52,913 | ▼ 52.0% |
| Amounts receivable within one year40/41 | €119,668 | €60,225 | €10,986 | €113,225 | €3,285 | €19,248 | €60,781 | €0 | ▼ 100% |
| Trade receivables40 | - | €59,502 | - | €110,715 | €0 | €15,959 | €0 | - | - |
| Other amounts receivable41 | - | €723 | - | €2,510 | €3,285 | €3,289 | €60,781 | €0 | ▼ 100% |
| Current investments50/53 | - | - | - | €3,000 | €13,626 | €27,000 | €39,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €28,642 | €64,403 | €82,457 | €31,761 | €121,067 | €25,314 | €10,436 | €52,913 | ▲ 407% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €148,310 | €124,628 | €93,443 | €147,986 | €143,162 | €75,680 | €113,270 | €52,913 | ▼ 53.3% |
| Equity10/15 | -€277,438 | -€309,512 | -€235,195 | -€204,797 | -€109,074 | €3,197 | €42,772 | €45,810 | ▲ 7.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | €18,600 | - | - | - | - | - | - | - |
| Reserves13 | - | - | - | - | - | - | €24,172 | €27,210 | ▲ 12.6% |
| Distributable reserves133 | - | - | - | - | - | - | €24,172 | €27,210 | ▲ 12.6% |
| Profit (loss) carried forward14 | -€296,038 | -€328,112 | -€253,795 | -€223,397 | -€127,674 | -€15,403 | €0 | - | - |
| Amounts payable17/49 | €425,748 | €434,140 | €328,638 | €352,783 | €252,236 | €72,483 | €70,498 | €7,103 | ▼ 89.9% |
| Amounts payable after more than one year17 | €311,500 | €346,000 | €281,000 | €206,000 | €106,000 | €52,000 | €52,000 | €0 | ▼ 100% |
| Financial debts170/4 | - | €346,000 | - | €206,000 | €106,000 | €52,000 | €52,000 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €94,095 | €53,556 | €0 | €101,290 | €97,563 | €20,483 | €16,938 | €7,103 | ▼ 58.1% |
| Trade debts44 | €82,626 | €50,311 | €0 | €101,290 | €72,936 | €20,314 | €14,521 | €4,984 | ▼ 65.7% |
| Suppliers440/4 | - | €50,311 | - | €101,290 | €72,936 | €20,314 | €14,521 | €4,984 | ▼ 65.7% |
| Taxes, remuneration and social security45 | - | €3,245 | - | - | €24,627 | €169 | €2,417 | €1,731 | ▼ 28.4% |
| Taxes450/3 | - | €3,245 | - | - | €24,627 | €169 | €2,417 | €1,731 | ▼ 28.4% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €387 | - |
| Accrued charges and deferred income492/3 | - | €34,584 | - | €45,493 | €48,673 | €0 | €1,560 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €112,491 | -€32,074 | €74,316 | €30,399 | €95,723 | €112,271 | €39,575 | €3,038 | ▼ 92.3% |
| + Depreciation and write-downs630 | - | - | - | - | €144 | €1,066 | €1,066 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €112,491 | -€32,074 | €74,316 | €30,399 | €95,867 | €113,336 | €40,640 | €3,038 | ▼ 92.5% |
| Investment in fixed assets (approximation) | - | - | - | - | - | €0 | €0 | €3,053 | - |
| Change in cash | - | €35,761 | €18,054 | -€50,695 | €89,306 | -€95,753 | -€14,878 | €42,477 | - |
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 (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00226297 |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00325694 |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00116323 |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00225904 |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20249481 |
| 31-12-2020 | micro format | 02-07-2021 | 2021-29800410 |
| 31-12-2019 | abbreviated format | 28-08-2020 | 2020-50000353 |
| 31-12-2018 | abbreviated format | 26-03-2019 | 2019-07800011 |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-53300476 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.