SHOWMASTER
Annual accounts 2025
abbreviated format, filed on 25-06-2026, 36 days before the deadlineTurnover and EBIT margin are not published. The abbreviated format does not require them.
Money flows
no detail for 2025Balance sheet
balance sheet total €402,553 on 31-12-2025in euro
in euro
Position in the sector
-17.1%
Higher than 12% of 2,093 companies in 2025.
0.75
Higher than 22% of 2,009 companies in 2025.
-36.8%
Higher than 5% of 2,052 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter · Staff: middle half
Staff
€45,182
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
402,553 | 383,651 | 150,666 | 126,903 | 90,933 | 56,775 | 79,139 | 93,298 | 63,799 | 71,796 | 83,805 | 90,228 | 96,048 | 125,908 | 67,966 | |
21/28 |
49,029 | 61,546 | 4,188 | 7,037 | 6,168 | 8,100 | 1,287 | 2,400 | 4,809 | 4,655 | 11,972 | 22,196 | 34,563 | 49,380 | 15,078 | |
21 |
- | 767 | 2,567 | 4,367 | 6,167 | 7,967 | - | - | - | - | - | - | - | - | - | |
22/27 |
49,028 | 60,777 | 1,620 | 2,669 | - | 132 | 286 | 1,399 | 3,808 | 3,654 | 10,972 | 21,196 | 33,563 | 46,380 | 12,078 | |
23 |
14,083 | 14,582 | 1,620 | 2,669 | - | - | - | 854 | 3,003 | 2,590 | 231 | 610 | 1,729 | 3,298 | 5,960 | |
24 |
28,309 | 39,559 | - | - | - | 132 | 286 | 545 | 805 | 1,064 | 10,741 | 20,586 | 31,834 | 43,082 | 6,118 | |
26 |
6,636 | 6,636 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
1 | 1 | 1 | 1 | 1 | 1 | 1,001 | 1,001 | 1,001 | 1,001 | 1,000 | 1,000 | 1,000 | 3,000 | 3,000 | |
29/58 |
353,524 | 322,106 | 146,478 | 119,866 | 84,765 | 48,674 | 77,853 | 90,898 | 58,990 | 67,140 | 71,832 | 68,032 | 61,485 | 76,528 | 52,888 | |
29 |
- | - | 61,008 | - | 41,880 | 8,572 | - | - | - | - | - | - | - | - | - | |
291 |
- | - | 61,008 | - | 41,880 | 8,572 | - | - | - | - | - | - | - | - | - | |
3 |
326,509 | 189,349 | 58,789 | 47,086 | - | - | - | - | - | - | - | - | - | - | - | |
30/36 |
326,509 | 189,349 | 58,789 | 47,086 | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
24,219 | 90,507 | 20,982 | 62,639 | 41,372 | 40,020 | 77,723 | 87,028 | 58,034 | 26,899 | 34,646 | 25,191 | 54,027 | 73,917 | 52,378 | |
40 |
16,519 | 89,396 | 20,049 | 61,034 | 37,262 | 36,986 | 73,791 | 66,167 | 31,892 | 20,357 | 28,939 | 24,359 | 28,776 | 46,443 | 38,245 | |
41 |
7,700 | 1,112 | 933 | 1,605 | 4,110 | 3,034 | 3,932 | 20,861 | 26,141 | 6,542 | 5,707 | 831 | 25,252 | 27,474 | 14,133 | |
54/58 |
34 | 39,678 | 4,815 | 10,077 | 1,496 | 47 | 76 | 3,816 | 862 | 39,983 | 34,864 | 42,615 | 7,413 | 308 | 239 | |
490/1 |
2,761 | 2,571 | 885 | 64 | 16 | 35 | 54 | 54 | 94 | 258 | 2,322 | 227 | 45 | 2,303 | 272 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
402,553 | 383,651 | 150,666 | 126,903 | 90,933 | 56,775 | 79,139 | 93,298 | 63,799 | 71,796 | 83,805 | 90,228 | 96,048 | 125,908 | 67,966 | |
10/15 |
-68,945 | 79,148 | 131,172 | 115,251 | 89,605 | 51,875 | 60,950 | 36,767 | 47,590 | 44,580 | 45,348 | 62,804 | 66,238 | 67,827 | 2,475 | |
10/11 |
61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | |
10 |
- | - | - | - | 61,500 | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | - | - | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | |
13 |
63,522 | 63,522 | 69,672 | 53,751 | 28,105 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,327 | - | |
130/1 |
- | - | - | - | 6,150 | 6,150 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | - | |
133 |
63,522 | 63,522 | 69,672 | 53,751 | 21,955 | - | - | - | - | - | - | - | - | 177 | - | |
14 |
-193,968 | -45,875 | - | - | - | -15,775 | -6,700 | -30,883 | -20,060 | -23,070 | -22,302 | -4,846 | -1,412 | - | -59,025 | |
17/49 |
471,499 | 304,504 | 19,494 | 11,652 | 1,328 | 4,899 | 18,189 | 56,531 | 16,209 | 27,216 | 38,457 | 27,424 | 29,809 | 58,081 | 65,491 | |
17 |
- | - | - | - | - | - | - | - | - | - | - | 3,709 | 12,339 | 20,600 | - | |
170/4 |
- | - | - | - | - | - | - | - | - | - | - | 3,709 | 12,339 | 20,600 | - | |
42/48 |
471,499 | 304,504 | 19,494 | 11,652 | 1,328 | 4,899 | 18,189 | 56,531 | 16,209 | 27,216 | 36,994 | 23,715 | 16,512 | 37,260 | 63,844 | |
42 |
- | - | - | - | - | - | - | - | - | - | 3,709 | 8,630 | 8,261 | 7,908 | - | |
44 |
7,140 | 71,511 | 10,218 | 82 | 378 | 3,949 | 1,150 | 630 | 12,172 | 6,702 | 8,501 | 1,758 | 2,753 | 4,193 | 2,808 | |
440/4 |
7,140 | 71,511 | 10,218 | 82 | 378 | 3,949 | 1,150 | 630 | 12,172 | 6,702 | 8,501 | 1,758 | 2,753 | 4,193 | 2,808 | |
46 |
6,855 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
45 |
5,522 | 3,815 | 9,276 | 9,276 | 950 | 950 | - | - | 4,037 | 3,125 | - | 1,518 | 5,498 | 9,822 | 109 | |
450/3 |
6 | - | 8,326 | 8,326 | - | - | - | - | 93 | 3,125 | - | 1,518 | 5,498 | 9,822 | 109 | |
454/9 |
5,516 | 3,815 | 950 | 950 | 950 | 950 | - | - | 3,945 | - | - | - | - | - | - | |
47/48 |
451,982 | 229,178 | - | 2,295 | - | - | 17,040 | 55,901 | - | 17,390 | 24,784 | 11,808 | - | 15,337 | 60,926 | |
492/3 |
- | - | - | - | - | - | - | - | - | - | 1,463 | - | 958 | 221 | 1,647 | |
| Income statement | ||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 153,968 | |
76A |
- | - | - | - | - | - | - | - | 13,585 | - | - | - | - | 2,236 | - | |
9900 |
-106,653 | -18,573 | 28,962 | 41,851 | 52,977 | -7,111 | 33,595 | -8,009 | 5,465 | 13,464 | 3,119 | 35,048 | 16,085 | 90,034 | -25,457 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 187,664 | |
62 |
22,591 | 14,165 | - | - | - | - | - | - | - | - | - | - | - | - | 14,333 | |
630 |
17,505 | 11,946 | 2,849 | 2,278 | 1,932 | 1,186 | 1,113 | 2,409 | 2,408 | 11,203 | 10,223 | 12,367 | 12,817 | 15,067 | 13,062 | |
640/8 |
1,180 | 845 | 644 | 1,056 | 522 | 520 | 518 | 895 | 726 | 1,356 | 1,606 | 1,262 | 1,616 | 2,290 | 2,851 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | 2,000 | - | 1,795 | |
9901 |
-147,929 | -45,528 | 25,469 | 38,517 | 50,523 | -8,817 | 31,964 | -11,313 | 2,331 | 905 | -8,710 | 21,419 | 1,652 | 72,677 | -55,703 | |
75/76B |
287 | - | 1,047 | 961 | 1,215 | - | - | 619 | 1,881 | 1,420 | 1,136 | 1,481 | 1,610 | 565 | 945 | |
75 |
287 | - | 1,047 | 961 | 1,215 | - | - | 619 | 1,881 | 1,420 | 1,136 | 1,481 | 1,610 | 565 | 945 | |
65/66B |
451 | 347 | 133 | 106 | 97 | 258 | 195 | 130 | 1,203 | 3,000 | 9,821 | 26,196 | 1,469 | 1,348 | 2,472 | |
65 |
451 | 347 | 133 | 106 | 97 | 258 | 195 | 130 | 1,203 | 3,000 | 9,821 | 26,196 | 1,469 | 1,348 | 2,472 | |
9903 |
-148,093 | -45,875 | 26,383 | 39,372 | 51,641 | -9,075 | 31,769 | -10,823 | 3,010 | -675 | -17,396 | -3,296 | -207 | 74,131 | -59,025 | |
67/77 |
- | - | 10,462 | 13,726 | 13,911 | - | 7,586 | - | - | 93 | 61 | 138 | 1,381 | 8,779 | - | |
9904 |
-148,093 | -45,875 | 15,921 | 25,646 | 37,730 | -9,075 | 24,183 | -10,823 | 3,010 | -768 | -17,457 | -3,434 | -1,588 | 65,351 | -59,025 | |
9905 |
-148,093 | -45,875 | 15,921 | 25,646 | 37,730 | -9,075 | 24,183 | -10,823 | 3,010 | -768 | -17,457 | -3,434 | -1,588 | 65,351 | -59,025 | |
| Appropriation of the result | ||||||||||||||||
9906 |
-193,968 | -45,875 | 15,921 | 25,646 | 21,955 | -15,775 | -6,700 | -30,883 | -20,060 | -23,070 | -22,302 | -4,846 | -1,588 | 6,327 | -59,025 | |
14P |
-45,875 | - | - | - | -15,775 | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 6,150 | - | - | - | - | - | - | - | - | - | - | 177 | - | - | |
691/2 |
- | - | 15,921 | 25,646 | 21,955 | - | - | - | - | - | - | - | - | 6,327 | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 6,150 | - | |
6921 |
- | - | 15,921 | 25,646 | 21,955 | - | - | - | - | - | - | - | - | 177 | - | |
694/7 |
- | 6,150 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
- | 6,150 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||
9087 |
0.5 | 0.3 | - | - | - | - | - | - | - | - | - | - | - | - | 0.9 | |
Hours worked1013 |
1,000 | 650 | - | - | - | - | - | - | - | - | - | - | - | - | 904 | |
| Document | ||||||||||||||||
The notes to these accounts have 9 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 25-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-06-2026 | 2026-00206250 | |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00172032 | |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00161110 | |
| 31-12-2022 | abbreviated format | 08-06-2023 | 2023-00114065 | |
| 31-12-2021 | abbreviated format | 11-04-2022 | 2022-20003637 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-64100555 | |
| 31-12-2019 | abbreviated format | 01-09-2020 | 2020-50300336 | |
| 31-12-2018 | abbreviated format | 16-07-2019 | 2019-33600423 | |
| 31-12-2017 | abbreviated format | 16-07-2018 | 2018-33600137 | |
| 31-12-2016 | abbreviated format | 26-07-2017 | 2017-36900488 | |
| 31-12-2015 | abbreviated format | 20-07-2016 | 2016-34400510 | |
| 31-12-2014 | abbreviated format | 15-07-2015 | 2015-31400097 | |
| 31-12-2013 | abbreviated format | 30-07-2014 | 2014-37800242 | |
| 31-12-2012 | abbreviated format | 21-06-2013 | 2013-20200095 | |
| 31-12-2011 | abbreviated format | 28-06-2012 | 2012-22900244 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -130,424 | -33,583 | 28,318 | 40,795 | 52,456 | -7,631 | 33,078 | -8,904 | 4,739 | 12,108 | 1,513 | 33,786 | 14,469 | 87,744 | -42,640 | ||
| -130,588 | -33,929 | 18,770 | 27,924 | 39,662 | -7,888 | 25,297 | -8,415 | 5,418 | 10,435 | -7,233 | 8,933 | 11,229 | 80,418 | -45,962 | ||
| 4,989 | 69,303 | 0 | 3,147 | 0 | 9,000 | 0 | 0 | 2,561 | 3,886 | 0 | 0 | -2,000 | 51,264 | 28,141 | ||
| -39,644 | 34,864 | -5,263 | 8,581 | 1,450 | -30 | -3,739 | 2,953 | -39,121 | 5,119 | -7,750 | 35,202 | 7,105 | 69 | - | ||
| -117,975 | 17,602 | 126,984 | 108,214 | 83,437 | 43,775 | 59,663 | 34,367 | 42,782 | 39,924 | 34,839 | 44,317 | 44,973 | 39,268 | -10,956 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | -36.2% | ||
| -17.1% | 20.6% | 87.1% | 90.8% | 98.5% | 91.4% | 77.0% | 39.4% | 74.6% | 62.1% | 54.1% | 69.6% | 69.0% | 53.9% | 3.6% | ||
| 0.75 | 1.06 | 7.51 | 10.29 | 63.85 | 9.94 | 4.28 | 1.61 | 3.64 | 2.47 | 1.94 | 2.87 | 3.72 | 2.05 | 0.83 | ||
| 0.06 | 0.44 | 4.50 | 6.25 | 63.85 | 9.94 | 4.28 | 1.61 | 3.64 | 2.47 | 1.94 | 2.87 | 3.72 | 2.05 | 0.83 | ||
| - | 3.85 | 0.15 | 0.10 | 0.01 | 0.09 | 0.30 | 1.54 | 0.34 | 0.61 | 0.85 | 0.44 | 0.45 | 0.86 | 26.46 | ||
| - | -58.0% | 12.1% | 22.3% | 42.1% | -17.5% | 39.7% | -29.4% | 6.3% | -1.7% | -38.5% | -5.5% | -2.4% | 96.4% | - | ||
| -36.8% | -12.0% | 10.6% | 20.2% | 41.5% | -16.0% | 30.6% | -11.6% | 4.7% | -1.1% | -20.8% | -3.8% | -1.7% | 51.9% | -86.8% | ||
| -289.10 | -96.90 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 91 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| part-time | 1 | 1 |
| in full-time equivalents | 0.5 | 0.5 |
| 0.5 | 0.3 | |
| On a permanent contract | 1 | 1 |
| Joined | - | 1 |
| Left | - | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,989 | €69,303 | - | €3,147 | - |
| €17,505 | €11,946 | €2,849 | €2,278 | €1,932 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on SHOWMASTER
The operating result for 2025 is a loss of €147,929, larger than the loss of €45,528 in 2024. It is the lowest result since 2011.
Equity is negative. Debt (€471,499) exceeds the balance-sheet total (€402,553).