Second Circle
Annual accounts 2025
micro format, filed on 23-07-2026, 8 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 ≈ €47,000. Estimated: probably between €23,000 and €93,000.
Balance sheet
balance sheet total €69,695 on 31-12-2025in euro
in euro
Position in the sector
78.7%
Higher than 76% of 39,360 companies in 2025.
4.68
Higher than 77% of 38,044 companies in 2025.
13.2%
Higher than 48% of 38,516 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
69,695 | 57,521 | |
29/58 |
69,695 | 57,521 | |
40/41 |
47,266 | 41,992 | |
40 |
8,266 | 61 | |
41 |
39,000 | 41,932 | |
54/58 |
4,283 | 14,651 | |
490/1 |
18,146 | 878 | |
| Balance sheet: equity and liabilities | |||
10/49 |
69,695 | 57,521 | |
10/15 |
54,817 | 45,628 | |
10/11 |
3,000 | 3,000 | |
13 |
51,817 | 42,628 | |
133 |
51,817 | 42,628 | |
17/49 |
14,878 | 11,894 | |
42/48 |
14,878 | 11,894 | |
44 |
1,021 | 755 | |
440/4 |
1,021 | 755 | |
45 |
13,857 | 11,138 | |
450/3 |
13,857 | 11,138 | |
| Income statement | |||
9900 |
10,008 | 54,625 | |
640/8 |
591 | 703 | |
9901 |
9,417 | 53,922 | |
75/76B |
2,510 | 218 | |
75 |
2,510 | 218 | |
65/66B |
57 | 374 | |
65 |
57 | 374 | |
9903 |
11,870 | 53,766 | |
67/77 |
2,681 | 11,138 | |
9904 |
9,189 | 42,628 | |
9905 |
9,189 | 42,628 | |
| Appropriation of the result | |||
9906 |
9,189 | 42,628 | |
691/2 |
9,189 | 42,628 | |
6921 |
9,189 | 42,628 | |
| Document | |||
The notes to these accounts have 2 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 23-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -10,368 | - | ||
| 54,817 | 45,628 | ||
| 78.7% | 79.3% | ||
| 4.68 | 4.84 | ||
| 0.27 | 0.26 | ||
| 16.8% | 93.4% | ||
| 13.2% | 74.1% |
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 Second Circle
The operating result for 2025 is 83% lower than in 2024.
Debt's share of the balance-sheet total rises from 20.7% to 21.3%. Equity and debt are higher.