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Annual accounts 2025
micro format, filed on 04-08-2026, 4 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €69,000 and €140,000.
Balance sheet
balance sheet total €46,225 on 31-12-2025in euro
in euro
Position in the sector
58.7%
Higher than 75% of 17,158 companies in 2025.
1.44
Higher than 61% of 16,582 companies in 2025.
22.4%
Higher than 82% of 16,665 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
46,225 | 39,716 | 38,035 | |
20 |
1,942 | 2,808 | 3,674 | |
21/28 |
19,675 | 11,670 | 13,386 | |
22/27 |
16,888 | 8,884 | 10,926 | |
23 |
2,452 | 2,435 | 3,571 | |
24 |
7,151 | - | 0 | |
26 |
7,285 | 6,448 | 7,355 | |
28 |
2,787 | 2,787 | 2,460 | |
29/58 |
24,609 | 25,238 | 20,975 | |
3 |
4,851 | 4,023 | 5,562 | |
30/36 |
4,851 | 4,023 | 5,562 | |
40/41 |
1,709 | 2,018 | 2,088 | |
40 |
698 | 659 | 985 | |
41 |
1,011 | 1,360 | 1,103 | |
54/58 |
17,257 | 17,337 | 12,472 | |
490/1 |
792 | 1,859 | 853 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
46,225 | 39,716 | 38,035 | |
10/15 |
27,127 | 16,763 | 12,164 | |
10/11 |
200 | 200 | 200 | |
14 |
26,927 | 16,563 | 11,964 | |
17/49 |
19,098 | 22,953 | 25,871 | |
17 |
2,062 | 6,143 | 10,170 | |
170/4 |
2,062 | 6,143 | 10,170 | |
42/48 |
17,036 | 16,810 | 15,702 | |
42 |
4,082 | 4,027 | 3,972 | |
44 |
6,123 | 4,541 | 5,146 | |
440/4 |
6,123 | 4,541 | 5,146 | |
45 |
6,832 | 8,242 | 5,949 | |
450/3 |
6,582 | 5,915 | 3,090 | |
454/9 |
250 | 2,328 | 2,859 | |
47/48 |
- | 0 | 635 | |
| Income statement | ||||
76A |
- | 0 | 2,740 | |
9900 |
25,375 | 57,402 | 46,478 | |
62 |
1,996 | 42,898 | 35,873 | |
630 |
3,572 | 2,909 | 2,623 | |
640/8 |
6,217 | 5,430 | 5,738 | |
9901 |
13,590 | 6,164 | 2,244 | |
75/76B |
86 | 55 | 55 | |
75 |
86 | 55 | 55 | |
65/66B |
340 | 379 | 285 | |
65 |
340 | 379 | 285 | |
9903 |
13,336 | 5,840 | 2,014 | |
67/77 |
2,972 | 1,241 | 297 | |
9904 |
10,364 | 4,600 | 1,716 | |
9905 |
10,364 | 4,600 | 1,716 | |
| Appropriation of the result | ||||
9906 |
26,927 | 16,563 | 11,964 | |
14P |
16,563 | 11,964 | 10,248 | |
| Document | ||||
The notes to these accounts have 17 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 04-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 4 days after the deadline. Filed on 4 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00385643.
Subsidies and aid
Flemish government 2022 to 2025, 6 entries, €19,628 awarded, €19,628 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €395 | €395 |
| 2024 | 1 | €9,017 | €9,017 |
| 2023 | 2 | €4,642 | €5,392 |
| 2022 | 2 | €5,574 | €4,824 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 17,163 | 9,073 | 4,866 | ||
| 13,936 | 7,508 | 4,339 | ||
| 10,711 | 327 | 421 | ||
| -81 | 4,866 | - | ||
| 7,572 | 8,428 | 5,273 | ||
| 58.7% | 42.2% | 32.0% | ||
| 1.44 | 1.50 | 1.34 | ||
| 1.16 | 1.26 | 0.98 | ||
| 0.70 | 1.37 | 2.13 | ||
| 38.2% | 27.4% | 14.1% | ||
| 22.4% | 11.6% | 4.5% | ||
| 50.42 | 23.93 | 17.05 |
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 |
|---|---|---|---|
| Tangible fixed assets | €10,711 | - | €421 |
| Financial fixed assets | €0 | €327 | €0 |
| €3,572 | €2,909 | €2,623 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on SmartUp
The operating result for 2025 is 120% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total falls from 57.8% to 41.3%. Equity is higher and debt is lower.