SETTLEMENTS
InactiveFinancials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4.5m
2024 · -€331,940
Working capital
€19.3m▲ 30.4%
2024 · €14.8m
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result stays negative: a loss of €4.6m in 2025 against €764,163 in 2024; the loss grows and 2025 has 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-€4.6m
2025
Net result€4.5m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€22.2m
2025
Equity€19.3m
2025
Debt€2.9m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€19.3m
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
Line202020212022202320242025
Operating result-€1.7m--€1.5m▲ 12.0%-€1.4m▲ 6.1%-€1.2m▲ 12.2%-€0.8m▲ 38.5%-€4.6m▼ 502%
Net result-€10.3m-€46.7m€2.0m▼ 95.8%-€10.0m-€0.3m▲ 96.7%€4.5m
Equity-€181.3m-€23.1m€25.1m▲ 8.5%€15.1m▼ 39.7%€14.8m▼ 2.2%€19.3m▲ 30.4%
Total assets€28.9m-€29.8m▲ 2.8%€30.6m▲ 2.6%€24.4m▼ 20.2%€23.5m▼ 3.7%€22.2m▼ 5.5%
Debt€210.3m-€6.6m▼ 96.8%€5.4m▼ 17.8%€9.2m▲ 69.5%€8.7m▼ 6.3%€2.9m▼ 66.8%
Working capital-€12.2m-€24.3m€25.1m▲ 3.4%€15.7m▼ 37.3%€14.8m▼ 5.9%€19.3m▲ 30.4%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €22.2m
Equity
€19.3m ▲ 30.4%
Debt
€2.9m ▼ 66.8%
Debt's share of the balance-sheet total falls from 36.9% to 12.9%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
7.73▲
2024 · 2.71
Debt to equity
0.15▼
2024 · 0.58
ROE
23.3%▲
2024 · -2.2%
ROA
20.3%▲
2024 · -1.4%
Debt ≤ 1 year
€2.9m▼
2024 · €8.7m
Income taxes
-€8.4m▼
2024 · €179,916
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | €0.005m | €0.01m | €0.09m | - | - | - | - |
| Other operating income74 | €0.005m | €0.01m | €0.09m | - | - | - | - |
| Operating charges60/66A | €1.7m | €1.5m | €1.5m | - | - | - | - |
| Services and other goods61 | €1.7m | €1.5m | €1.5m | - | - | - | - |
| Other operating charges640/8 | €0.001m | €348 | €348 | €0.05m | €0.002m | €0.001m | ▼ 53.1% |
| Gross operating margin9900 | - | - | - | -€1.2m | -€0.8m | -€4.6m | ▼ 504% |
| Operating profit (loss)9901 | -€1.7m | -€1.5m | -€1.4m | -€1.2m | -€0.8m | -€4.6m | ▼ 502% |
| Financial income75/76B | €2.8m | €64.3m | €3.6m | €0.6m | €0.6m | €0.7m | ▲ 6.6% |
| Recurring financial income75 | €0.01m | €0.1m | €3.6m | €0.6m | €0.6m | €0.7m | ▲ 6.6% |
| Income from current assets751 | - | - | €0.05m | - | - | - | - |
| Other financial income752/9 | €0.01m | €0.1m | €3.5m | - | - | - | - |
| Non-recurring financial income76B | €2.8m | €64.2m | €0 | - | - | - | - |
| Financial charges65/66B | €11.4m | €13.1m | €0.02m | €1.3m | €0.01m | €0.007m | ▼ 41.4% |
| Recurring financial charges65 | €11.4m | €10.9m | €0.02m | €1.3m | €0.01m | €0.007m | ▼ 41.4% |
| Debt charges650 | €11.1m | €10.9m | €0.001m | - | - | - | - |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | €0 | - | - | - | - | - | - |
| Other financial charges652/9 | €0.3m | €0.01m | €0.02m | - | - | - | - |
| Non-recurring financial charges66B | €0 | €2.1m | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€10.3m | €49.7m | €2.1m | -€2.0m | -€0.2m | -€3.9m | ▼ 2,494% |
| Income taxes67/77 | - | €3.0m | €0.2m | €8.0m | €0.2m | -€8.4m | - |
| Taxes670/3 | - | €3.0m | €0.2m | - | - | - | - |
| Profit (loss) for the period9904 | -€10.3m | €46.7m | €2.0m | -€10.0m | -€0.3m | €4.5m | - |
| Profit (loss) for the period to be appropriated9905 | -€10.3m | €46.7m | €2.0m | -€10.0m | -€0.3m | €4.5m | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €28.9m | €29.8m | €30.6m | €24.4m | €23.5m | €22.2m | ▼ 5.5% |
| Fixed assets21/28 | €27.7m | €0 | - | - | - | - | - |
| Financial fixed assets28 | €27.7m | €0 | - | - | - | - | - |
| Other financial fixed assets284/8 | €27.7m | €0 | - | - | - | - | - |
| Shares284 | €27.7m | €0 | - | - | - | - | - |
| Current assets29/58 | €1.3m | €29.8m | €30.6m | €24.4m | €23.5m | €22.2m | ▼ 5.5% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €0.06m | €0 | €1.2m | €20.9m | €21.3m | €17.9m | ▼ 15.9% |
| Trade receivables40 | €0.03m | €0 | €0.02m | €0.4m | €0.5m | €0 | ▼ 100% |
| Other amounts receivable41 | €0.03m | €0 | €1.2m | €20.5m | €20.9m | €17.9m | ▼ 14.1% |
| Current investments50/53 | - | - | €27.7m | €0 | - | - | - |
| Other investments51/53 | - | - | €27.7m | - | - | - | - |
| Cash at bank and in hand54/58 | €1.2m | €29.8m | €1.1m | €3.4m | €1.5m | €3.0m | ▲ 104% |
| Deferred charges and accrued income490/1 | €0 | €0.006m | €0.6m | €0.03m | €0.6m | €1.2m | ▲ 90.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €28.9m | €29.8m | €30.6m | €24.4m | €23.5m | €22.2m | ▼ 5.5% |
| Equity10/15 | -€181.3m | €23.1m | €25.1m | €15.1m | €14.8m | €19.3m | ▲ 30.4% |
| Contributions10/11 | €108.1m | €265.9m | €265.9m | €265.9m | €265.9m | €265.9m | = |
| Capital10 | €94.8m | €220.3m | €220.3m | €220.3m | €220.3m | €220.3m | = |
| Issued capital100 | €94.8m | €220.3m | €220.3m | €220.3m | €220.3m | €220.3m | = |
| Contributions outside capital11 | €13.3m | €45.5m | €45.5m | €45.5m | €45.5m | €45.5m | = |
| Share premium1100/10 | €13.3m | €45.5m | €45.5m | €45.5m | €45.5m | €45.5m | = |
| Profit (loss) carried forward14 | -€289.4m | -€242.7m | -€240.8m | -€250.7m | -€251.1m | -€246.6m | ▲ 1.8% |
| Amounts payable17/49 | €210.3m | €6.6m | €5.4m | €9.2m | €8.7m | €2.9m | ▼ 66.8% |
| Amounts payable after more than one year17 | €196.7m | €0 | - | - | - | - | - |
| Financial debts170/4 | €196.7m | €0 | - | - | - | - | - |
| Unsubordinated bonds171 | €196.7m | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €13.5m | €5.5m | €5.4m | €8.6m | €8.7m | €2.9m | ▼ 66.8% |
| Financial debts43 | - | - | €0.006m | €0 | - | - | - |
| Credit institutions430/8 | - | - | €0.006m | €0 | - | - | - |
| Trade debts44 | €0.3m | €0.2m | €0.09m | €0.2m | €0.08m | €2.7m | ▲ 3,375% |
| Suppliers440/4 | €0.3m | €0.2m | €0.09m | €0.2m | €0.08m | €2.7m | ▲ 3,375% |
| Taxes, remuneration and social security45 | €0.05m | €5.2m | €5.3m | €8.4m | €8.6m | €0.2m | ▼ 97.5% |
| Taxes450/3 | €0.04m | €5.2m | €5.3m | €8.4m | €8.6m | €0.2m | ▼ 97.5% |
| Remuneration and social security454/9 | €0.01m | €0.01m | €0.01m | €0 | - | - | - |
| Other amounts payable47/48 | €13.1m | €5 | €5 | €0.002m | €0.002m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €0.1m | €1.1m | €0 | €0.6m | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10.3m | €46.7m | €2.0m | -€10.0m | -€0.3m | €4.5m | - |
| Operating cash flow (approximation) | -€10.3m | €46.7m | €2.0m | -€10.0m | -€0.3m | €4.5m | - |
| Investment in fixed assets (approximation) | - | €27.7m | - | - | - | - | - |
| Change in cash | - | €28.6m | -€28.7m | €2.4m | -€2.0m | €1.5m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-07-2026 | 2026-00314752 |
| 31-12-2024 | full format | 25-09-2025 | 2025-00512197 |
| 31-12-2023 | full format | 04-10-2024 | 2024-00495599 |
| 31-12-2022 | full format | 17-10-2023 | 2023-00487937 |
| 31-12-2021 | full format | 30-06-2023 | 2023-00194795 |
| 31-12-2020 | full format | 06-02-2023 | 2023-00027176 |
| 31-12-2019 | full format | 22-07-2021 | 2021-38400184 |
| 31-12-2018 | full format | 22-08-2019 | 2019-51100232 |
| 31-12-2017 | full format | 26-07-2018 | 2018-39600235 |
| 31-12-2016 | full format | 30-05-2017 | 2017-13800381 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.