SIDE TWO
Annual accounts 2025
micro format, filed on 22-06-2026, 39 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 ≈ €130,000. Estimated: probably between €98,000 and €160,000.
Balance sheet
balance sheet total €225,640 on 31-12-2025in euro
in euro
Position in the sector
20.8%
Higher than 24% of 39,368 companies in 2025.
1.53
Higher than 40% of 38,051 companies in 2025.
16.0%
Higher than 53% of 38,523 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
225,640 | 220,646 | 207,191 | 212,119 | |
20 |
0 | 0 | 0 | 0 | |
21/28 |
149,097 | 154,624 | 157,842 | 151,431 | |
22/27 |
149,097 | 154,624 | 157,842 | 151,431 | |
22 |
136,124 | 140,346 | 144,563 | 148,780 | |
23 |
9,656 | 10,617 | 9,746 | - | |
24 |
3,318 | 3,662 | 3,534 | 2,651 | |
29/58 |
76,543 | 66,022 | 49,349 | 60,688 | |
40/41 |
32,627 | 34,543 | 39,423 | 34,752 | |
40 |
32,188 | 19,572 | 29,963 | 31,309 | |
41 |
439 | 14,971 | 9,460 | 3,444 | |
54/58 |
43,581 | 30,725 | 8,209 | 25,608 | |
490/1 |
336 | 754 | 1,716 | 327 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
225,640 | 220,646 | 207,191 | 212,119 | |
10/15 |
46,917 | 56,826 | 40,785 | 27,935 | |
10/11 |
1 | 1 | 1 | 1 | |
14 |
46,916 | 56,825 | 40,784 | 27,934 | |
17/49 |
178,724 | 163,820 | 166,407 | 184,184 | |
17 |
128,561 | 136,635 | 144,394 | 143,883 | |
170/4 |
128,561 | 136,635 | 144,394 | 143,883 | |
42/48 |
50,163 | 27,185 | 22,013 | 40,300 | |
42 |
8,075 | 7,758 | 7,454 | 5,117 | |
44 |
2,638 | 2,981 | 1,427 | 79 | |
440/4 |
2,638 | 2,981 | 1,427 | 79 | |
45 |
19,308 | 16,445 | 13,131 | 35,105 | |
450/3 |
19,308 | 16,445 | 13,131 | 35,105 | |
47/48 |
20,142 | - | - | - | |
| Income statement | |||||
9900 |
63,630 | 37,170 | 33,339 | 64,938 | |
62 |
- | 27 | - | - | |
630 |
6,930 | 6,400 | 5,677 | 27,206 | |
640/8 |
714 | 692 | 666 | 385 | |
9901 |
55,987 | 30,051 | 26,996 | 37,348 | |
75/76B |
- | 675 | 310 | 119 | |
75 |
- | 675 | 310 | 119 | |
65/66B |
7,994 | 8,777 | 8,288 | 439 | |
65 |
7,994 | 8,777 | 8,288 | 439 | |
9903 |
47,993 | 21,949 | 19,018 | 37,027 | |
67/77 |
11,902 | 5,907 | 6,169 | 9,093 | |
9904 |
36,091 | 16,041 | 12,849 | 27,934 | |
9905 |
36,091 | 16,041 | 12,849 | 27,934 | |
| Appropriation of the result | |||||
9906 |
92,916 | 56,825 | 40,784 | 27,934 | |
14P |
56,825 | 40,784 | 27,934 | - | |
694/7 |
46,000 | - | - | - | |
694 |
46,000 | - | - | - | |
| Document | |||||
The notes to these accounts have 6 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 22-06-2026.
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 | 2023 | 2022 |
|---|---|---|---|---|---|
| 62,916 | 36,450 | 32,673 | 64,553 | ||
| 43,021 | 22,441 | 18,527 | 55,140 | ||
| 1,402 | 3,182 | 12,089 | 177,712 | ||
| 12,855 | 22,516 | -17,399 | - | ||
| 26,380 | 38,837 | 27,336 | 20,387 | ||
| 20.8% | 25.8% | 19.7% | 13.2% | ||
| 1.53 | 2.43 | 2.24 | 1.51 | ||
| 3.81 | 2.88 | 4.08 | 6.59 | ||
| 76.9% | 28.2% | 31.5% | 100.0% | ||
| 16.0% | 7.3% | 6.2% | 13.2% | ||
| 7.87 | 4.15 | 3.94 | over 100 |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €1,402 | €3,182 | €12,089 | €177,712 |
| €6,930 | €6,400 | €5,677 | €27,206 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on SIDE TWO
The operating result for 2025 is 86% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 74.2% to 79.2%. Equity is lower and debt is higher.