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Private limited companyfounded 1991active for 35 yearsRue des Guillemins 129, 4000 Liège, BelgiumKBO/BCE: BE 0442.560.619

Financials · financial year 2025, full format

Annual accounts 2025 filed on 15-06-2026 at the NBB all 35 filings

Turnover
€3.8m▼ 10.8%
2024 · €4.3m
EBIT margin
10.0%=
2024 · 10.0%
Net result
€3,445▼ 99.0%
2024 · €337,056
Working capital
€439,007
2024 · -€485,932
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 11% lower than in 2024.

Turnover€3.8m 2025 Operating result€0.4m 2025 Net result€0.003m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Gambling and betting activities (NACE 92). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€2.4m-€4.0m▲ 67.3%€2.1m▼ 46.4%€2.4m▲ 10.4%€4.3m▲ 81.4%€3.9m▼ 8.2%€4.3m▲ 9.2%€3.8m▼ 10.8%
Operating result-€1.0m-€0.1m-€0.3m€0.08m€0.8m▲ 896%€0.4m▼ 53.3%€0.4m▲ 10.6%€0.4m▼ 11.0%
Net result-€0.8m-€0.01m-€3.4m€0.3m€0.8m▲ 129%-€0.3m€0.3m€0.003mwithin the sector's middle half▼ 99.0%
EBIT margin-40.8%-2.6%▲ 43.4pp-13.7%▼ 16.3pp3.5%▲ 17.2pp19.4%▲ 15.9pp9.9%▼ 9.5pp10.0%▲ 0.1pp10.0%=
Equity€1.4m-€2.1m▲ 43.4%-€0.8m€2.5m€3.3m▲ 31.7%€3.3m€3.3mwithin the sector's middle half▲ 0.1%
Total assets€7.5m-€8.3m▲ 10.9%€5.1m▼ 38.2%€5.1m▼ 1.1%€4.8m▼ 5.8%€4.8m▲ 1.1%€4.3m▼ 10.4%€4.5mwithin the sector's middle half▲ 3.7%
Debt€6.0m-€6.2m▲ 3.2%€5.9m▼ 5.1%€2.5m▼ 57.2%€1.5m▼ 41.4%€1.9m▲ 26.1%€1.0m▼ 44.8%€1.2m▲ 15.3%
Working capital-€4.7m--€4.2m▲ 10.7%-€4.7m▼ 10.3%-€1.6m▲ 65.1%-€0.9m▲ 44.8%-€0.6m▲ 32.7%-€0.5m▲ 19.6%€0.4mwithin the sector's middle half
Solvency19.2%-24.8%▲ 5.6pp-16.5%▼ 41.3pp49.3%▲ 65.8pp68.9%▲ 19.6pp76.1%73.5%within the sector's middle half▼ 2.7pp
Current ratio0.22-0.28▲ 0.060.17▼ 0.110.30▲ 0.130.39▲ 0.090.68▲ 0.280.53▼ 0.152.12within the sector's middle half▲ 1.59
Return on assets (ROA)-11.0%-0.2%▲ 11.2pp-66.4%▼ 66.6pp6.8%▲ 73.2pp16.6%▲ 9.8pp-7.0%▼ 23.6pp7.8%▲ 14.8pp0.1%within the sector's middle half▼ 7.7pp
Staff (FTE)14-12▼ 14.3%11.7▼ 2.5%12.5▲ 6.8%12.2▼ 2.4%11.1▼ 9.0%10.8▼ 2.7%9.3within the sector's middle half▼ 13.9%
above within below The sector band is the middle half of the companies in Gambling and betting activities (NACE 92). 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.5m
Fixed assets €3.7m ▼ 3.2%
Current assets €830,053 ▲ 51.7%
Equity and liabilities €4.5m
Equity €3.3m ▲ 0.1%
Debt €1.2m ▲ 15.3%
Debt's share of the balance-sheet total rises from 23.9% to 26.5%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€528,273▼
2024 · €553,429
Cash flow
€148,718▼
2024 · €460,261
Debt to equity
0.36▲
2024 · 0.31
ROE
0.1%▼
2024 · 10.2%
Interest coverage
7.64▼
2024 · 20.18
Debt ≤ 1 year
€391,046▼
2024 · €1.0m
Debt > 1 year
€800,000
Income taxes
€283,018▲
2024 · €67,277
Customer credit
5 days▲
2024 · 2 days
Supplier credit
1349 days▼
2024 · 2041 days
Staff costs
€727,920▲
2024 · €714,918
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202431-12-2025
Employees at the balance-sheet date1312109
full-time1211109
part-time11--
in full-time equivalents12.511.7109
Average over the year, in full-time equivalents1212.210.89.3
On a permanent contract1312109
Joined31101
Left31212
Training hours--152150

Source: social balance sheet in the 2021 to 2025 annual accounts

Overdue debts

tax and social security
Item20212022202320242025
Overdue social security (RSZ) debts-€7,047---

Source: notes to the 2021 to 2025 annual accounts (statement of debts)

Securities and guarantees

on own assets and for others
Item20212022202320242025
Mortgage mandates-€632,500€632,500€632,500€632,500

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€74,240€63,314€187,868€489,938€23,779
Financial fixed assets€703,119€25,000---
Depreciation and write-downs of the year€215,007€200,305€109,427€123,205€145,273

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES.

Item20212022202320242025
Fee for the audit€5,178€5,360€7,260€6,300€6,450

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 69 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.3m€4.5m▲
Fixed assets21/28€3.8m€3.7m▼
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€0.5m€0.4m▼
Plant, machinery and equipment23€0.4m€0.3m▼
Furniture and vehicles24€0.09m€0.07m▼
Other tangible fixed assets26€0.02m€0.01m▼
Assets under construction and advance payments27€0.003m-
Financial fixed assets28€3.3m€3.3m=
Affiliated companies280/1€2.9m€2.9m=
Participating interests280€2.9m€2.9m=
Other financial fixed assets284/8€0.4m€0.4m=
Amounts receivable and cash guarantees285/8€0.4m€0.4m=
Current assets29/58€0.5m€0.8m▲
Stocks and contracts in progress3€0.005m-
Stocks30/36€0.005m-
Goods purchased for resale34€0.005m-
Amounts receivable within one year40/41€0.2m€0.5m▲
Trade receivables40€0.02m€0.05m▲
Other amounts receivable41€0.1m€0.4m▲
Current investments50/53€0.09m€0.09m▲
Other investments51/53€0.09m€0.09m▲
Cash at bank and in hand54/58€0.3m€0.3m▼
Deferred charges and accrued income490/1€0.001m€0.005m▲
Equity and liabilities
Total equity and liabilities10/49€4.3m€4.5m▲
Equity10/15€3.3m€3.3m▲
Contributions10/11€6.7m€6.7m=
Reserves13€0.004m€0.004m=
Non-distributable reserves130/1€0.004m€0.004m=
Reserves not available under the articles1311€0.004m€0.004m=
Profit (loss) carried forward14-€3.4m-€3.4m▲
Amounts payable17/49€1.0m€1.2m▲
Amounts payable after more than one year17-€0.8m
Other amounts payable178/9-€0.8m
Amounts payable within one year42/48€1.0m€0.4m▼
Trade debts44€0.3m€0.2m▼
Suppliers440/4€0.3m€0.2m▼
Taxes, remuneration and social security45€0.1m€0.1m▲
Taxes450/3€0.02m€0.03m▲
Remuneration and social security454/9€0.09m€0.09m▼
Other amounts payable47/48€0.7m€0.06m▼
Income statement Code20242025
Operating income70/76A€4.4m€4.0m▼
Turnover70€4.3m€3.8m▼
Other operating income74€0.1m€0.1m▲
Operating charges60/66A€4.0m€3.6m▼
Goods for resale, raw materials and consumables60€0.05m€0.06m▲
Purchases600/8€0.05m€0.05m▲
Change in stocks: decrease (increase)609€228€0.005m▲
Services and other goods61€2.4m€1.8m▼
Remuneration, social security and pensions62€0.7m€0.7m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m▲
Other operating charges640/8€0.7m€0.9m▲
Operating profit (loss)9901€0.4m€0.4m▼
Financial income75/76B€0.006m€0.005m▼
Recurring financial income75€0.006m€0.005m▼
Income from current assets751-€0.005m
Other financial income752/9€0.006m€0▼
Financial charges65/66B€0.03m€0.1m▲
Recurring financial charges65€0.03m€0.1m▲
Debt charges650€0.03m€0.07m▲
Other financial charges652/9€0.004m€0.03m▲
Profit (loss) for the period before taxes9903€0.4m€0.3m▼
Income taxes67/77€0.07m€0.3m▲
Taxes670/3€0.07m€0.3m▲
Profit (loss) for the period9904€0.3m€0.003m▼
Profit (loss) for the period to be appropriated9905€0.3m€0.003m▼
Appropriation of the result
Profit (loss) to be appropriated9906-€3.4m-€3.4m▲
Profit (loss) brought forward from the previous period14P-€3.7m-€3.4m▲
Social balance sheet
Average headcount (FTE)908710.89.3▼

The notes to these accounts have 55 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 15-06-2026.

Line20182019202020212022202320242025Change
Operating income70/76A---€2.6m€4.5m€4.1m€4.4m€4.0m▼ 9.9%
Turnover70€2.4m€4.0m€2.1m€2.4m€4.3m€3.9m€4.3m€3.8m▼ 10.8%
Other operating income74---€0.2m€0.2m€0.2m€0.1m€0.1m▲ 28.2%
Operating charges60/66A---€2.5m€3.6m€3.7m€4.0m€3.6m▼ 9.8%
Goods for resale, raw materials and consumables60---€0.02m€0.04m€0.06m€0.05m€0.06m▲ 23.1%
Purchases600/8---€0.02m€0.04m-€0.05m€0.05m▲ 13.9%
Change in stocks: decrease (increase)609---€386-€0.002m-€0.001m€228€0.005m▲ 21×
Services and other goods61---€1.5m€2.2m€2.2m€2.4m€1.8m▼ 24.9%
Remuneration, social security and pensions62---€0.4m€0.6m€0.7m€0.7m€0.7m▲ 1.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.5m€0.4m€0.4m€0.2m€0.2m€0.1m€0.1m€0.1m▲ 17.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.06m-----
Provisions for liabilities and charges: additions (uses and reversals)635/8----€0.02m-€0.04m----
Other operating charges640/8---€0.3m€0.6m€0.7m€0.7m€0.9m▲ 23.7%
Operating profit (loss)9901-€1.0m€0.1m-€0.3m€0.08m€0.8m€0.4m€0.4m€0.4m▼ 11.0%
Financial income75/76B---€0.7m€0.08m-€0.006m€0.005m▼ 7.3%
Recurring financial income75€0.2m-€0.001m€201€0.003m€0.005m€0.006m€0.005m▼ 7.3%
Income from current assets751-------€0.005m-
Other financial income752/9---€201€0.003m€0.005m€0.006m€0▼ 100.0%
Non-recurring financial income76B---€0.7m€0.08m----
Financial charges65/66B---€0.4m€0.1m€0.7m€0.03m€0.1m▲ 222%
Recurring financial charges65€0.1m€0.09m€0.08m€0.07m€0.03m€0.02m€0.03m€0.1m▲ 222%
Debt charges650€0.09m€0.08m€0.07m€0.07m€0.02m€0.02m€0.03m€0.07m▲ 152%
Other financial charges652/9---€0.003m€0.004m€0.004m€0.004m€0.03m▲ 674%
Non-recurring financial charges66B---€0.4m€0.1m€0.7m---
Profit (loss) for the period before taxes9903-€0.8m€0.01m-€3.4m€0.3m€0.8m-€0.3m€0.4m€0.3m▼ 29.2%
Income taxes67/77€0.001m€0.001m€447€208--€0.07m€0.3m▲ 321%
Taxes670/3---€208--€0.07m€0.3m▲ 321%
Profit (loss) for the period9904-€0.8m€0.01m-€3.4m€0.3m€0.8m-€0.3m€0.3m€0.003m▼ 99.0%
Profit (loss) for the period to be appropriated9905-€0.8m€0.01m-€3.4m€0.3m€0.8m-€0.3m€0.3m€0.003m▼ 99.0%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€7.5m€8.3m€5.1m€5.1m€4.8m€4.8m€4.3m€4.5m▲ 3.7%
Fixed assets21/28€6.2m€6.7m€4.2m€4.4m€4.2m€3.6m€3.8m€3.7m▼ 3.2%
Intangible fixed assets21€41€0.03m€0.03m€0.02m€0.01m€0.007m€0€0-
Tangible fixed assets22/27€1.1m€0.8m€0.5m€0.4m€0.2m€0.3m€0.5m€0.4m▼ 23.4%
Plant, machinery and equipment23---€0.3m€0.2m€0.1m€0.4m€0.3m▼ 23.4%
Furniture and vehicles24---€0.04m€0.05m€0.03m€0.09m€0.07m▼ 20.7%
Other tangible fixed assets26---€357-€0.02m€0.02m€0.01m▼ 23.8%
Assets under construction and advance payments27-----€0.1m€0.003m--
Financial fixed assets28€5.0m€5.9m€3.7m€4.0m€4.0m€3.3m€3.3m€3.3m=
Affiliated companies280/1---€3.6m€3.6m€2.9m€2.9m€2.9m=
Participating interests280---€3.6m€3.6m€2.9m€2.9m€2.9m=
Other financial fixed assets284/8---€0.4m€0.4m€0.4m€0.4m€0.4m=
Amounts receivable and cash guarantees285/8---€0.4m€0.4m€0.4m€0.4m€0.4m=
Current assets29/58€1.3m€1.6m€0.9m€0.7m€0.6m€1.3m€0.5m€0.8m▲ 51.7%
Stocks and contracts in progress3€0.004m€0.002m€0.003m€0.002m€0.004m€0.005m€0.005m--
Stocks30/36---€0.002m€0.004m€0.005m€0.005m--
Goods purchased for resale34---€0.002m€0.004m€0.005m€0.005m--
Amounts receivable within one year40/41€1.0m€1.3m€0.8m€0.6m€0.3m€0.9m€0.2m€0.5m▲ 170%
Trade receivables40---€0.01m€0.2m€0.2m€0.02m€0.05m▲ 121%
Other amounts receivable41---€0.6m€0.04m€0.7m€0.1m€0.4m▲ 178%
Current investments50/53€0.04m€0.09m€0.09m€0.1m€0.1m€0.1m€0.09m€0.09m▲ 0.6%
Other investments51/53---€0.1m€0.1m€0.1m€0.09m€0.09m▲ 0.6%
Cash at bank and in hand54/58€0.3m€0.3m€0.007m€0.003m€0.2m€0.2m€0.3m€0.3m▼ 1.1%
Deferred charges and accrued income490/1---€0.002m€0.01m€0.004m€0.001m€0.005m▲ 277%
Equity and liabilities
Total equity and liabilities10/49€7.5m€8.3m€5.1m€5.1m€4.8m€4.8m€4.3m€4.5m▲ 3.7%
Equity10/15€1.4m€2.1m-€0.8m€2.5m€3.3m-€3.3m€3.3m▲ 0.1%
Contributions10/11€2.6m€3.2m-€6.7m€6.7m€6.7m€6.7m€6.7m=
Reserves13€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m€0.004m=
Non-distributable reserves130/1---€0.004m€0.004m€0.004m€0.004m€0.004m=
Reserves not available under the articles1311---€0.004m€0.004m€0.004m€0.004m€0.004m=
Profit (loss) carried forward14-€1.1m-€1.1m-€4.5m-€4.2m-€3.4m-€3.7m-€3.4m-€3.4m▲ 0.1%
Provisions and deferred taxes16--€0.06m€0.04m-----
Provisions for liabilities and charges160/5---€0.04m-----
Other liabilities and charges164/5---€0.04m-----
Amounts payable17/49€6.0m€6.2m€5.9m€2.5m€1.5m€1.9m€1.0m€1.2m▲ 15.3%
Amounts payable after more than one year17-€0.4m€0.3m€0.2m---€0.8m-
Other amounts payable178/9---€0.2m---€0.8m-
Amounts payable within one year42/48€6.0m€5.9m€5.6m€2.3m€1.5m€1.9m€1.0m€0.4m▼ 62.1%
Trade debts44€0.3m€0.2m€0.2m€0.3m€0.3m€0.7m€0.3m€0.2m▼ 18.7%
Suppliers440/4---€0.3m€0.3m€0.7m€0.3m€0.2m▼ 18.7%
Taxes, remuneration and social security45---€0.07m€0.09m€0.1m€0.1m€0.1m▲ 1.8%
Taxes450/3---€208€238-€0.02m€0.03m▲ 33.8%
Remuneration and social security454/9---€0.07m€0.09m€0.1m€0.09m€0.09m▼ 5.4%
Other amounts payable47/48---€2.0m€1.1m€1.0m€0.7m€0.06m▼ 91.0%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€0.8m€0.01m-€3.4m€0.3m€0.8m-€0.3m€0.3m€0.003m▼ 99.0%
+ Depreciation and write-downs630€0.5m€0.4m€0.4m€0.2m€0.2m€0.1m€0.1m€0.1m▲ 17.9%
Operating cash flow (approximation)-€0.4m€0.4m-€3.0m€0.6m€1.0m-€0.2m€0.5m€0.1m▼ 67.7%
Investment in fixed assets (approximation)--€0.9m€2.1m-€0.4m-€0.02m€0.5m-€0.3m-€0.02m▲ 93.0%
Change in cash--€0.02m-€0.3m-€0.003m€0.2m€0.05m€0.06m-€0.003m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 35 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 15-06-2026 2026-00178050 PDF
31-12-2024 unclassified schema 26-06-2025 2025-00217885 PDF
31-12-2023 unclassified schema 01-07-2024 2024-00230667 PDF
31-12-2022 unclassified schema 07-07-2023 2023-00245368 PDF
31-12-2021 unclassified schema 26-08-2022 2022-20377528 PDF
31-12-2020 unclassified schema 31-08-2021 2021-60700033 PDF
31-12-2019 full format 16-09-2020 2020-53600286 PDF
31-12-2018 full format 26-08-2019 2019-50600180 PDF
31-12-2017 full format 31-08-2018 2018-58900167 PDF
31-12-2016 full format 23-08-2017 2017-45600581 PDF

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