SMARTWATCHTRENDS
Dissolution or liquidationFinancials · financial year 2025, micro format
Equity
€393,647▼ 5.8%
2024 · €417,775
Total assets
€446,142▼ 5.1%
2024 · €470,133
Net result
-€24,128▼ 69.8%
2024 · -€14,209
Working capital
€393,114▲ 7.6%
2024 · €365,442
Trend over the years
2021 to 2025, 5 financial years
The operating result stays negative: a loss of €42,765 in 2025 against €26,465 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-€42,765
2025
Net result-€24,128
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€446,142
2025
Equity€393,647
2025
Debt€52,494
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€393,114
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
Line20212022202320242025
Operating result€241,737-€161,448▼ 33.2%€17,213▼ 89.3%-€26,465-€42,765▼ 61.6%
Net result€166,148-€106,087▼ 36.1%€17,994▼ 83.0%-€14,209-€24,128▼ 69.8%
Equity€348,904-€439,991▲ 26.1%€457,984▲ 4.1%€417,775▼ 8.8%€393,647▼ 5.8%
Total assets€500,194-€541,807▲ 8.3%€532,812▼ 1.7%€470,133▼ 11.8%€446,142▼ 5.1%
Debt€151,290-€101,817▼ 32.7%€74,828▼ 26.5%€52,357▼ 30.0%€52,494▲ 0.3%
Working capital€337,232-€435,573▲ 29.2%€456,200▲ 4.7%€365,442▼ 19.9%€393,114▲ 7.6%
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446,142
Fixed assets
€12,534 ▼ 79.3%
Current assets
€433,608 ▲ 5.9%
Equity and liabilities €446,142
Equity
€393,647 ▼ 5.8%
Debt
€52,494 ▲ 0.3%
Debt's share of the balance-sheet total rises from 11.1% to 11.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€39,581▼
2024 · -€10,311
Cash flow
-€20,944▼
2024 · €1,945
Current ratio
10.71▲
2024 · 9.28
Quick ratio
10.69▲
2024 · 9.27
Debt to equity
0.13▲
2024 · 0.13
ROE
-6.1%▼
2024 · -3.4%
ROA
-5.4%▼
2024 · -3.0%
Interest coverage
-72.65▼
2024 · -65.55
Debt ≤ 1 year
€40,494▼
2024 · €44,157
Income taxes
€167▼
2024 · €365
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,951 | €3,303 | €3,425 | €16,154 | €3,184 | ▼ 80.3% |
| Other operating charges640/8 | €781 | €837 | €560 | €3,857 | €520 | ▼ 86.5% |
| Non-recurring operating charges66A | - | - | - | - | €16,445 | - |
| Gross operating margin9900 | €246,469 | €165,588 | €21,198 | -€6,454 | -€22,616 | ▼ 250% |
| Operating profit (loss)9901 | €241,737 | €161,448 | €17,213 | -€26,465 | -€42,765 | ▼ 61.6% |
| Financial income75/76B | €63 | €628 | €10,611 | €12,779 | €19,348 | ▲ 51.4% |
| Recurring financial income75 | €63 | €628 | €10,611 | €12,779 | €19,348 | ▲ 51.4% |
| Financial charges65/66B | €24,887 | €1,985 | €363 | €157 | €545 | ▲ 246% |
| Recurring financial charges65 | €24,887 | €1,985 | €363 | €157 | €545 | ▲ 246% |
| Profit (loss) for the period before taxes9903 | €216,913 | €160,091 | €27,461 | -€13,844 | -€23,961 | ▼ 73.1% |
| Income taxes67/77 | €50,764 | €54,005 | €9,467 | €365 | €167 | ▼ 54.3% |
| Profit (loss) for the period9904 | €166,148 | €106,087 | €17,994 | -€14,209 | -€24,128 | ▼ 69.8% |
| Profit (loss) for the period to be appropriated9905 | €166,148 | €106,087 | €17,994 | -€14,209 | -€24,128 | ▼ 69.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €500,194 | €541,807 | €532,812 | €470,133 | €446,142 | ▼ 5.1% |
| Fixed assets21/28 | €20,921 | €17,618 | €14,985 | €60,533 | €12,534 | ▼ 79.3% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €20,921 | €17,618 | €14,985 | €60,533 | €12,534 | ▼ 79.3% |
| Plant, machinery and equipment23 | €3,456 | €2,231 | €1,674 | €414 | €151 | ▼ 63.6% |
| Furniture and vehicles24 | €1,180 | €939 | €699 | €49,345 | €3,446 | ▼ 93.0% |
| Other tangible fixed assets26 | €16,285 | €14,448 | €12,611 | €10,774 | €8,937 | ▼ 17.1% |
| Current assets29/58 | €479,273 | €524,189 | €517,828 | €409,600 | €433,608 | ▲ 5.9% |
| Stocks and contracts in progress3 | €7,625 | €7,144 | €2,171 | €387 | €776 | ▲ 101% |
| Stocks30/36 | €7,625 | €7,144 | €2,171 | €387 | €776 | ▲ 101% |
| Amounts receivable within one year40/41 | €241,521 | €80,257 | €366,731 | €115,521 | €407,370 | ▲ 253% |
| Trade receivables40 | €206,974 | €47,202 | €4,565 | €7,884 | €1,707 | ▼ 78.3% |
| Other amounts receivable41 | €34,546 | €33,055 | €362,166 | €107,636 | €405,662 | ▲ 277% |
| Cash at bank and in hand54/58 | €229,856 | €436,482 | €148,925 | €293,188 | €25,463 | ▼ 91.3% |
| Deferred charges and accrued income490/1 | €272 | €306 | €0 | €505 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €500,194 | €541,807 | €532,812 | €470,133 | €446,142 | ▼ 5.1% |
| Equity10/15 | €348,904 | €439,991 | €457,984 | €417,775 | €393,647 | ▼ 5.8% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €56,000 | €311,000 | €326,000 | €300,000 | €300,000 | = |
| Distributable reserves133 | €56,000 | €311,000 | €326,000 | €300,000 | €300,000 | = |
| Profit (loss) carried forward14 | €290,904 | €126,991 | €129,984 | €115,775 | €91,647 | ▼ 20.8% |
| Amounts payable17/49 | €151,290 | €101,817 | €74,828 | €52,357 | €52,494 | ▲ 0.3% |
| Amounts payable within one year42/48 | €142,041 | €88,617 | €61,628 | €44,157 | €40,494 | ▼ 8.3% |
| Trade debts44 | €43,674 | €20,472 | €8,818 | €4,557 | €3,169 | ▼ 30.5% |
| Suppliers440/4 | €43,674 | €20,472 | €8,818 | €4,557 | €3,169 | ▼ 30.5% |
| Taxes, remuneration and social security45 | €85,244 | €68,145 | €52,810 | €14,901 | €12,625 | ▼ 15.3% |
| Taxes450/3 | €85,244 | €68,145 | €52,810 | €14,901 | €2,725 | ▼ 81.7% |
| Remuneration and social security454/9 | - | - | - | - | €9,900 | - |
| Other amounts payable47/48 | €13,123 | €0 | - | €24,700 | €24,700 | = |
| Accrued charges and deferred income492/3 | €9,249 | €13,200 | €13,200 | €8,200 | €12,000 | ▲ 46.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €166,148 | €106,087 | €17,994 | -€14,209 | -€24,128 | ▼ 69.8% |
| + Depreciation and write-downs630 | €3,951 | €3,303 | €3,425 | €16,154 | €3,184 | ▼ 80.3% |
| Operating cash flow (approximation) | €170,099 | €109,389 | €21,419 | €1,945 | -€20,944 | - |
| Investment in fixed assets (approximation) | - | €0 | -€791 | -€61,703 | €44,816 | - |
| Change in cash | - | €206,626 | -€287,557 | €144,263 | -€267,725 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 18-06-2026 | 2026-00172449 |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00233739 |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00177567 |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00336832 |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20070137 |
Subsidies and aid
Flemish government
2025 · 1 entry · €2,000 awarded · €2,000 paidSchemes
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.