Second Group
ActiveFinancials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 4 November 2026.
Annual accounts 2023 filed on 31-12-2024 PDF all 3 filings
Turnover
≈ €12,000
Estimated: probably between €5,600 and €23,000
Total assets
€76,886▲ 54.3%
2022 · €49,830
Net result
-€25
2022 · €2,934
Working capital
€42,788▲ 11.5%
2022 · €38,360
Multi-year overview
2021 to 2023, 3 financial yearsOperating result
€245
▼ 94.5%
2023
20212023
Net result
-€25
2023
lowest quarter of the sector
20212023
Equity
€44,408
▼ 0.1%
2023
middle half of the sector
20212023
Total assets
€76,886
▲ 54.3%
2023
lowest quarter of the sector
20212023
Debt
€32,478
▲ 502%
2023
20212023
Working capital
€42,788
▲ 11.5%
2023
middle half of the sector
20212023
Solvency
57.8%
▼ 31.4pp
2023
middle half of the sector
20212023
Current ratio
2.42
▼ 5.69
2023
middle half of the sector
20212023
Return on assets (ROA)
0.0%
▼ 5.9pp
2023
lowest quarter of the sector
20212023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023
Operating result€55,635-€4,419▼ 92.1%€245▼ 94.5%
Net result€40,299within the sector's middle half-€2,934within the sector's middle half▼ 92.7%-€25below the sector's middle half
Equity€41,499within the sector's middle half-€44,433within the sector's middle half▲ 7.1%€44,408within the sector's middle half▼ 0.1%
Total assets€64,439below the sector's middle half-€49,830below the sector's middle half▼ 22.7%€76,886below the sector's middle half▲ 54.3%
Debt€22,940-€5,397▼ 76.5%€32,478▲ 502%
Working capital€41,857within the sector's middle half-€38,360within the sector's middle half▼ 8.4%€42,788within the sector's middle half▲ 11.5%
Solvency64.4%within the sector's middle half-89.2%above the sector's middle half▲ 24.8pp57.8%within the sector's middle half▼ 31.4pp
Current ratio2.85within the sector's middle half-8.11above the sector's middle half▲ 5.252.42within the sector's middle half▼ 5.69
Return on assets (ROA)62.5%above the sector's middle half-5.9%within the sector's middle half▼ 56.6pp0.0%below the sector's middle half▼ 5.9pp
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 2023 is 94% lower than in 2022 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €76,886
Fixed assets
€3,948 ▼ 35.0%
Current assets
€72,938 ▲ 66.7%
Equity and liabilities €76,886
Equity
€44,408 ▼ 0.1%
Debt
€32,478 ▲ 502%
Debt's share of the balance-sheet total rises from 10.8% to 42.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2,369▼
2022 · €4,719
Cash flow
€2,100▼
2022 · €3,235
Debt to equity
0.73▲
2022 · 0.12
ROE
-0.1%▼
2022 · 6.6%
Interest coverage
22.13▲
2022 · 11.63
Debt ≤ 1 year
€30,150▲
2022 · €5,397
Income taxes
€216▼
2022 · €1,079
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | €6,373 | - |
| Depreciation and write-downs of the year | - | €300 | €2,124 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €300 | €2,124 | ▲ 607% |
| Other operating charges640/8 | - | €102 | €109 | ▲ 6.9% |
| Gross operating margin9900 | €55,635 | €4,821 | €2,478 | ▼ 48.6% |
| Operating profit (loss)9901 | €55,635 | €4,419 | €245 | ▼ 94.5% |
| Financial income75/76B | €0 | €0 | €53 | - |
| Recurring financial income75 | €0 | €0 | €53 | - |
| Financial charges65/66B | €130 | €406 | €107 | ▼ 73.6% |
| Recurring financial charges65 | €130 | €406 | €107 | ▼ 73.6% |
| Profit (loss) for the period before taxes9903 | €55,505 | €4,013 | €191 | ▼ 95.2% |
| Income taxes67/77 | €15,207 | €1,079 | €216 | ▼ 80.0% |
| Profit (loss) for the period9904 | €40,299 | €2,934 | -€25 | - |
| Profit (loss) for the period to be appropriated9905 | €40,299 | €2,934 | -€25 | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €64,439 | €49,830 | €76,886 | ▲ 54.3% |
| Fixed assets21/28 | - | €6,073 | €3,948 | ▼ 35.0% |
| Tangible fixed assets22/27 | - | €6,073 | €3,948 | ▼ 35.0% |
| Furniture and vehicles24 | - | €6,073 | €3,948 | ▼ 35.0% |
| Current assets29/58 | €64,439 | €43,757 | €72,938 | ▲ 66.7% |
| Amounts receivable within one year40/41 | €23,779 | €624 | €60,155 | ▲ 96× |
| Trade receivables40 | €16,553 | €0 | €60,155 | - |
| Other amounts receivable41 | €7,225 | €624 | - | - |
| Cash at bank and in hand54/58 | €38,758 | €40,460 | €11,846 | ▼ 70.7% |
| Deferred charges and accrued income490/1 | €1,902 | €2,673 | €936 | ▼ 65.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €64,439 | €49,830 | €76,886 | ▲ 54.3% |
| Equity10/15 | €41,499 | €44,433 | €44,408 | ▼ 0.1% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €39,499 | €42,433 | €42,433 | = |
| Distributable reserves133 | €39,499 | €42,433 | €42,433 | = |
| Profit (loss) carried forward14 | €0 | €0 | -€25 | - |
| Amounts payable17/49 | €22,940 | €5,397 | €32,478 | ▲ 502% |
| Amounts payable within one year42/48 | €22,582 | €5,397 | €30,150 | ▲ 459% |
| Trade debts44 | €6,161 | €2,618 | €23,357 | ▲ 792% |
| Suppliers440/4 | €6,161 | €2,618 | €23,357 | ▲ 792% |
| Taxes, remuneration and social security45 | €15,621 | €1,979 | €1,111 | ▼ 43.9% |
| Taxes450/3 | €15,621 | €1,979 | €1,111 | ▼ 43.9% |
| Other amounts payable47/48 | €800 | €800 | €5,682 | ▲ 610% |
| Accrued charges and deferred income492/3 | €358 | €0 | €2,328 | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €40,299 | €2,934 | -€25 | - |
| + Depreciation and write-downs630 | - | €300 | €2,124 | ▲ 607% |
| Operating cash flow (approximation) | €40,299 | €3,235 | €2,100 | ▼ 35.1% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | €1,701 | -€28,614 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.