SOCOGETRA
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 51 filings
Turnover
€147.3m▲ 1.1%
2024 · €145.7m
EBIT margin
6.5%▲ 0.8pp
2024 · 5.7%
Net result
€7.8m▲ 69.1%
2024 · €4.6m
Working capital
-€24.2m▼ 38.3%
2024 · -€17.5m
In the rankings
#1 employer in the province of Luxembourg, Specialised construction sector#1 company by total assets in the province of Luxembourg, Specialised construction sector#1 company by equity in the province of Luxembourg, Specialised construction sector
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 16% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover€147.3m
2025
Operating result€9.5m
2025
Net result€7.8m
2025
Total assets€132.9m
2025
Equity€29.4m
2025
Debt€98.6m
2025
Working capital-€24.2m
2025
EBIT margin6.5%
2025
Return on assets (ROA)5.9%
2025
Solvency22.1%
2025
Current ratio0.73
2025
Staff (FTE)434.2
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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€88.1m-€86.5m▼ 1.9%€77.7m▼ 10.2%€95.2m▲ 22.6%€99.7m▲ 4.8%€118.7m▲ 19.1%€145.7m▲ 22.7%€147.3m▲ 1.1%
Operating result€3.3m-€4.1m▲ 24.4%€5.0m▲ 22.3%€6.1m▲ 20.6%€6.7m▲ 10.3%€7.4m▲ 10.6%€8.2m▲ 11.2%€9.5m▲ 15.7%
Net result€2.6m-€4.2m▲ 61.1%€3.1mabove the sector's middle half▼ 26.6%€4.0mabove the sector's middle half▲ 29.7%€8.3mabove the sector's middle half▲ 105%€3.3mabove the sector's middle half▼ 60.6%€4.6mabove the sector's middle half▲ 42.2%€7.8mabove the sector's middle half▲ 69.1%
EBIT margin3.8%-4.8%▲ 1.0pp6.5%▲ 1.7pp6.4%▼ 0.1pp6.7%▲ 0.3pp6.2%▼ 0.5pp5.7%▼ 0.6pp6.5%▲ 0.8pp
Equity€13.9m-€18.1m▲ 30.5%€21.2mabove the sector's middle half▲ 17.1%€19.9mabove the sector's middle half▼ 6.0%€24.2mabove the sector's middle half▲ 21.4%€24.9mabove the sector's middle half▲ 3.1%€29.5mabove the sector's middle half▲ 18.6%€29.4mabove the sector's middle half▼ 0.6%
Total assets€84.1m-€81.5m▼ 3.1%€82.7mabove the sector's middle half▲ 1.5%€91.2mabove the sector's middle half▲ 10.2%€116.5mabove the sector's middle half▲ 27.8%€122.6mabove the sector's middle half▲ 5.3%€125.1mabove the sector's middle half▲ 2.0%€132.9mabove the sector's middle half▲ 6.3%
Debt€66.9m-€60.2m▼ 9.9%€59.3m▼ 1.6%€68.6m▲ 15.7%€89.8m▲ 31.0%€94.3m▲ 4.9%€91.8m▼ 2.6%€98.6m▲ 7.4%
Working capital-€6.9m--€7.0m▼ 2.1%-€7.1mbelow the sector's middle half▼ 1.0%-€14.9mbelow the sector's middle half▼ 110%-€14.5mbelow the sector's middle half▲ 2.6%-€16.8mbelow the sector's middle half▼ 15.7%-€17.5mbelow the sector's middle half▼ 4.4%-€24.2mbelow the sector's middle half▼ 38.3%
Solvency16.5%-22.2%▲ 5.7pp25.6%within the sector's middle half▲ 3.4pp21.8%within the sector's middle half▼ 3.8pp20.8%below the sector's middle half▼ 1.1pp20.3%below the sector's middle half▼ 0.4pp23.6%within the sector's middle half▲ 3.3pp22.1%below the sector's middle half▼ 1.5pp
Current ratio0.86-0.84▼ 0.020.85below the sector's middle half=0.75below the sector's middle half▼ 0.100.78below the sector's middle half▲ 0.030.78below the sector's middle half=0.78below the sector's middle half=0.73below the sector's middle half▼ 0.05
Return on assets (ROA)3.1%-5.2%▲ 2.1pp3.7%within the sector's middle half▼ 1.4pp4.4%within the sector's middle half▲ 0.7pp7.1%within the sector's middle half▲ 2.7pp2.7%within the sector's middle half▼ 4.4pp3.7%within the sector's middle half▲ 1.0pp5.9%within the sector's middle half▲ 2.2pp
Staff (FTE)342.6-350.3▲ 2.2%358.2above the sector's middle half▲ 2.3%358.4above the sector's middle half▲ 0.1%369.9above the sector's middle half▲ 3.2%396.2above the sector's middle half▲ 7.1%428.3above the sector's middle half▲ 8.1%434.2above the sector's middle half▲ 1.4%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 €132.9m
Fixed assets
€67.4m ▲ 4.3%
Current assets
€65.5m ▲ 8.4%
Equity and liabilities €132.9m
Equity
€29.4m ▼ 0.6%
Provisions
€5.0m ▲ 32.9%
Debt
€98.6m ▲ 7.4%
Debt's share of the balance-sheet total rises from 73.4% to 74.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€13.7m▲
2024 · €12.2m
Cash flow
€12.0m▲
2024 · €8.6m
Quick ratio
0.64▼
2024 · 0.67
Debt to equity
3.36▲
2024 · 3.11
ROE
26.6%▲
2024 · 15.7%
Interest coverage
12.63▲
2024 · 7.51
Debt ≤ 1 year
€89.7m▲
2024 · €78.0m
Debt > 1 year
€8.7m▼
2024 · €13.8m
Income taxes
€2.8m▲
2024 · €2.0m
Customer credit
127 days▲
2024 · 123 days
Supplier credit
185 days▲
2024 · 163 days
Staff costs
€33.4m▲
2024 · €32.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 358 | 388 | 409 | 435 | 444 |
| full-time | 346 | 373 | 392 | 412 | 420 |
| part-time | 12 | 15 | 17 | 23 | 24 |
| in full-time equivalents | 355.1 | 384.1 | 404.6 | 429.7 | 438 |
| Average over the year, in full-time equivalents | 358.4 | 369.9 | 396.2 | 428.3 | 434.2 |
| On a permanent contract | 358 | 388 | 409 | 435 | 444 |
| Joined | 37 | 68 | 51 | 81 | 51 |
| Left | 41 | 38 | 30 | 55 | 42 |
| Agency workers, average number | 3.5 | 4.4 | 6.1 | 7.9 | 8.8 |
| Training hours | 9,766 | 4,074 | 3,010 | 6,607 | 29,512 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgage mandates | - | €7.7m | €7.7m | €7.7m | €7.7m |
| Carrying value of the mortgaged assets | - | €11.9m | €11.9m | €11.9m | €11.9m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8.7m | €9.3m | €5.4m | €5.6m | €5.2m |
| Intangible fixed assets | €18,840 | €6,191 | €4,504 | €7,882 | €13,450 |
| Financial fixed assets | - | €12.0m | - | €6,186 | €1.8m |
| Depreciation and write-downs of the year | €3.4m | €3.4m | €3.7m | €4.0m | €4.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €10,570 | €10,500 | €12,935 | €24,000 | €24,000 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Public contracts
17 awards · 2018 to 2026
ABT-068-4-BIS - MONS - STEP Spiennes - Réhabilitation, mise à niveau, extension
Direction des routes du Luxembourg - Bail d’entretien général routier - District routier d'Arlon
Travaux de remplacement du Pont Capitte sur le canal du centre historique à la Louvière: MI-O8.12.01-23-2533 - 1
Réfection de revêtements par raclage-pose : SOFICO - routes. Sud de la Direction des routes du Luxembourg (Districts de Arlon / Virton / Florenville / Neufchâteau)
Réfection de revêtements par raclage-pose : SOFICO – autoroutes et routes à 2 x 2 voies. Direction des routes du Luxembourg: Réfection de revêtements par raclage-pose : SOFICO - autoroutes et routes à 2 x 2 voies. Direction des routes du Luxembourg
Show 12 more contracts
57/53/1/22/023 : Steden Aat en Chièvres: L1 kpbk 47.952 - Plaatsing van af-dekkappen ter bescherming van de naspanhulzen: 5753122023 - 1
Remplacement du passage à niveau de Chapois par un passage inférieur, deux couloirs sous voies et une voirie: TR 083458 - 1
Direction des routes du Brabant wallon Cyclostrade E411/N004 – Projet PNRR - Phase 3 – Commune de Wavre Section entre la N239 et la Rue du Manil à Wavre Lot 1 et 2: MI-O8.06.03-23-3974 - 1
Direction des routes du Brabant wallon Cyclostrade E411/N004 – Projet PNRR - Phase 3 – Commune de Wavre Section entre la N239 et la Rue du Manil à Wavre Lot 1 et 2: MI-O8.06.03-23-3974 - 1
Passage inférieur de Florée: TR 083467 - 1 - Onderdoorgang Florée
D132 : Réfection PMS de revêtements dégradés. SPW sud: MI-O8.08.02-24-214 - 1
N40 - LIBRAMONT - Réfection profonde de la voirie et réalisation d'une piste cyclable bidirectionnelle en site propre entre Lamouline et Recogne: SOF-MI-O8.08.02-22-5724 - 1
TR 083469 - Suppression du passage à niveau de Leignon: Lot 1 : Construction d’un passage supérieur et d'une voirie
TR 784302 - Génie Civil- Passerelle de Ans
Kinkempois: aménagement de faisceaux de voies, construction d’un bâtiment et abords (onze lots): Poste d’entretien de Kinkempois: aménagement de faisceaux de voies, construction d’un bâtiment à usage divers et abords — Lot 03: aménagement de faisceaux de voies — travaux de génie civil
Kinkempois: aménagement de faisceaux de voies, construction d’un bâtiment et abords (onze lots): Poste d’entretien de Kinkempois: aménagement de faisceaux de voies, construction d’un bâtiment à usage divers et abords — Lot 05: faisceaux de voies – travaux d’égouttage et d’alimentation
Construction de la station d'épuration de l'Eisch Amont d'une capacité de 15.600 EH et du collecteur nord
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Comparable companies
These companies have the same main activity as SOCOGETRA: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €46m and €90m, founded between 1984 and 1990.
| Company | Founded | Total assets | Equity | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| SOCOGETRA Marche-en-Famenne | 1990 | €132.9m | €29.4m | €147.3m | €7.8m | 434.2 | 2025 |
| RENOTEC Geel | 1988 | €89.6m | €25.2m | €241.0m | €8.8m | 844.5 | 2025 |
| MONUMENT - VANDEKERCKHOVE Ingelmunster | 1990 | €70.9m | €32.4m | €119.4m | €5.3m | 217.3 | 2025 |
| ETS E. RONVEAUX Ciney | 1989 | €45.8m | €8.4m | €76.5m | €0.5m | 454.3 | 2025 |
| AERTSSEN LIFTING Stabroek | 1990 | €51.2m | €9.4m | €66.7m | -€2.8m | 340.1 | 2025 |
| SMET-F & C Dessel | 1987 | €54.1m | €14.2m | €84.1m | €3.4m | 198.9 | 2025 |
| ELOY TRAVAUX Sprimont | 1984 | €55.5m | €7.4m | €66.5m | €5.4m | 229 | 2025 |
They were chosen from the 7,010 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 101 companies had the same profile as SOCOGETRA has now. Two years later, 2.0% had gone bankrupt and 97.0% were still going.
- Large
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
2.0%
went bankrupt
1.0%
stopped otherwise
97.0%
was still going
That fits the bankruptcy probability of SOCOGETRA itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 101 companies, not a prediction for SOCOGETRA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €98.5m | €109.8m | €127.7m | €151.8m | €155.7m | ▲ 2.6% |
| Turnover70 | €88.1m | €86.5m | €77.7m | €95.2m | €99.7m | €118.7m | €145.7m | €147.3m | ▲ 1.1% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€3.0m | €2.7m | €1.9m | -€1.3m | €0.1m | - |
| Own construction capitalised72 | - | - | - | - | €0.02m | €0.05m | - | - | - |
| Other operating income74 | - | - | - | €6.3m | €7.3m | €7.0m | €7.3m | €8.2m | ▲ 12.3% |
| Non-recurring operating income76A | - | - | - | €0.001m | €0.002m | €0.003m | €0.007m | €194 | ▼ 97.1% |
| Operating charges60/66A | - | - | - | €92.4m | €103.1m | €120.3m | €143.5m | €146.1m | ▲ 1.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €57.4m | €64.6m | €75.5m | €94.4m | €95.0m | ▲ 0.7% |
| Purchases600/8 | - | - | - | €57.5m | €65.2m | €77.1m | €93.4m | €94.9m | ▲ 1.6% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.06m | -€0.6m | -€1.6m | €0.9m | €0.1m | ▼ 88.8% |
| Services and other goods61 | - | - | - | €8.0m | €9.6m | €11.5m | €12.3m | €12.1m | ▼ 1.6% |
| Remuneration, social security and pensions62 | - | - | - | €22.8m | €25.6m | €28.4m | €32.3m | €33.4m | ▲ 3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.3m | €2.5m | €3.1m | €3.4m | €3.4m | €3.7m | €4.0m | €4.2m | ▲ 5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.1m | €0.007m | €0.003m | €0.001m | €0.005m | ▲ 599% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.4m | -€0.2m | €1.0m | €0.3m | €1.2m | ▲ 303% |
| Other operating charges640/8 | - | - | - | €0.4m | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 2.7% |
| Non-recurring operating charges66A | - | - | - | €79 | €64 | €0.007m | €0.1m | €11 | ▼ 100.0% |
| Operating profit (loss)9901 | €3.3m | €4.1m | €5.0m | €6.1m | €6.7m | €7.4m | €8.2m | €9.5m | ▲ 15.7% |
| Financial income75/76B | - | - | - | €1.0m | €3.8m | €2.1m | €0.1m | €2.3m | ▲ 18× |
| Recurring financial income75 | €0.7m | €2.0m | €1.3m | €0.8m | €3.8m | €2.1m | €0.1m | €2.3m | ▲ 18× |
| Income from financial fixed assets750 | - | - | - | €0.7m | €3.6m | €2.0m | €0.03m | €2.0m | ▲ 67× |
| Income from current assets751 | - | - | - | €0.05m | €0.1m | €0.04m | €0.05m | €0.2m | ▲ 287% |
| Other financial income752/9 | - | - | - | €0.06m | €0.08m | €0.05m | €0.05m | €0.09m | ▲ 94.2% |
| Non-recurring financial income76B | - | - | - | €0.2m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1.4m | €0.5m | €4.5m | €1.7m | €1.2m | ▼ 29.5% |
| Recurring financial charges65 | €0.4m | €0.6m | €0.5m | €0.5m | €0.5m | €1.6m | €1.7m | €1.2m | ▼ 29.5% |
| Debt charges650 | €0.3m | €0.5m | €0.4m | €0.4m | €0.4m | €1.5m | €1.6m | €1.1m | ▼ 33.2% |
| Other financial charges652/9 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 31.9% |
| Non-recurring financial charges66B | - | - | - | €0.9m | - | €2.9m | - | - | - |
| Profit (loss) for the period before taxes9903 | €3.7m | €5.5m | €4.6m | €5.7m | €10.0m | €5.0m | €6.6m | €10.6m | ▲ 59.6% |
| Transfer from deferred taxes780 | - | - | - | €0.02m | €0.03m | €0.01m | €0.01m | €0.03m | ▲ 153% |
| Transfer to deferred taxes680 | - | - | - | €0.02m | €0.02m | €0.05m | €0.02m | €0.06m | ▲ 148% |
| Income taxes67/77 | €1.1m | €1.3m | €1.5m | €1.7m | €1.8m | €1.7m | €2.0m | €2.8m | ▲ 37.4% |
| Taxes670/3 | - | - | - | €1.7m | €1.8m | €1.7m | €2.0m | €2.8m | ▲ 40.4% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0 | €0.06m | - | - | €0.06m | - |
| Profit (loss) for the period9904 | €2.6m | €4.2m | €3.1m | €4.0m | €8.3m | €3.3m | €4.6m | €7.8m | ▲ 69.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.06m | €0.4m | €0.04m | €1.3m | €0.1m | ▼ 92.6% |
| Transfer to tax-exempt reserves689 | - | - | - | €0.09m | €1.4m | €0.9m | €0.2m | €0.2m | ▲ 20.3% |
| Profit (loss) for the period to be appropriated9905 | €2.2m | €4.3m | €3.1m | €4.0m | €7.3m | €2.4m | €5.8m | €7.7m | ▲ 33.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €84.1m | €81.5m | €82.7m | €91.2m | €116.5m | €122.6m | €125.1m | €132.9m | ▲ 6.3% |
| Fixed assets21/28 | €40.9m | €43.3m | €42.9m | €47.5m | €65.0m | €63.7m | €64.6m | €67.4m | ▲ 4.3% |
| Intangible fixed assets21 | €0.02m | €0.02m | €0.03m | €0.04m | €0.03m | €0.02m | €0.01m | €0.02m | ▲ 34.1% |
| Tangible fixed assets22/27 | €8.9m | €10.3m | €11.5m | €16.8m | €22.7m | €24.2m | €25.9m | €26.8m | ▲ 3.6% |
| Land and buildings22 | - | - | - | €3.0m | €2.8m | €15.4m | €14.8m | €14.4m | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €4.3m | €4.2m | €4.1m | €5.0m | €5.0m | ▲ 0.9% |
| Furniture and vehicles24 | - | - | - | €1.6m | €1.7m | €2.8m | €3.4m | €3.3m | ▼ 3.6% |
| Leasing and similar rights25 | - | - | - | €1.0m | €1.1m | €0.7m | €1.1m | €1.2m | ▲ 8.0% |
| Assets under construction and advance payments27 | - | - | - | €6.9m | €12.8m | €1.2m | €1.5m | €2.9m | ▲ 88.4% |
| Financial fixed assets28 | €32.0m | €32.9m | €31.4m | €30.7m | €42.3m | €39.5m | €38.8m | €40.6m | ▲ 4.7% |
| Affiliated companies280/1 | - | - | - | €30.4m | €42.0m | €39.2m | €38.5m | €40.3m | ▲ 4.7% |
| Participating interests280 | - | - | - | €26.7m | €38.7m | €35.9m | €35.9m | €37.7m | ▲ 5.1% |
| Amounts receivable281 | - | - | - | €3.6m | €3.3m | €3.3m | €2.6m | €2.6m | = |
| Companies linked by participating interests282/3 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Participating interests282 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Other financial fixed assets284/8 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | ▲ 17.4% |
| Shares284 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.008m | €0.009m | €0.009m | €0.009m | €0.02m | ▲ 80.7% |
| Current assets29/58 | €43.2m | €38.2m | €39.8m | €43.6m | €51.4m | €58.9m | €60.5m | €65.5m | ▲ 8.4% |
| Stocks and contracts in progress3 | €1.2m | €1.3m | €1.1m | €3.5m | €6.8m | €10.2m | €8.0m | €8.1m | ▲ 0.5% |
| Stocks30/36 | - | - | - | €1.2m | €1.8m | €3.3m | €2.4m | €2.3m | ▼ 4.3% |
| Raw materials and consumables30/31 | - | - | - | €1.2m | €1.8m | €3.3m | €2.4m | €2.3m | ▼ 4.3% |
| Contracts in progress37 | - | - | - | €2.3m | €5.1m | €6.9m | €5.6m | €5.8m | ▲ 2.5% |
| Amounts receivable within one year40/41 | €37.1m | €32.4m | €31.9m | €38.6m | €44.1m | €47.8m | €51.8m | €56.8m | ▲ 9.6% |
| Trade receivables40 | - | - | - | €36.7m | €41.5m | €43.8m | €49.1m | €51.1m | ▲ 4.0% |
| Other amounts receivable41 | - | - | - | €2.0m | €2.5m | €4.0m | €2.7m | €5.7m | ▲ 113% |
| Cash at bank and in hand54/58 | €2.8m | €1.4m | €1.0m | €1.1m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 31.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.4m | €0.4m | €0.6m | €0.4m | €0.6m | ▲ 35.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €84.1m | €81.5m | €82.7m | €91.2m | €116.5m | €122.6m | €125.1m | €132.9m | ▲ 6.3% |
| Equity10/15 | €13.9m | €18.1m | €21.2m | €19.9m | €24.2m | €24.9m | €29.5m | €29.4m | ▼ 0.6% |
| Contributions10/11 | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | = |
| Capital10 | - | - | - | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | = |
| Issued capital100 | - | - | - | €7.5m | €7.5m | €7.5m | €7.5m | €7.5m | = |
| Reserves13 | €6.4m | €10.6m | €13.7m | €12.4m | €16.7m | €17.4m | €22.0m | €21.9m | ▼ 0.8% |
| Non-distributable reserves130/1 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Legal reserve130 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Tax-exempt reserves132 | - | - | - | €0.9m | €1.9m | €2.7m | €1.5m | €1.6m | ▲ 5.4% |
| Distributable reserves133 | - | - | - | €10.7m | €14.1m | €13.9m | €19.8m | €19.5m | ▼ 1.3% |
| Provisions and deferred taxes16 | €3.4m | €3.2m | €2.2m | €2.6m | €2.5m | €3.5m | €3.8m | €5.0m | ▲ 32.9% |
| Provisions for liabilities and charges160/5 | - | - | - | €2.6m | €2.4m | €3.4m | €3.7m | €4.9m | ▲ 33.0% |
| Other liabilities and charges164/5 | - | - | - | €2.6m | €2.4m | €3.4m | €3.7m | €4.9m | ▲ 33.0% |
| Deferred taxes168 | - | - | - | €0.05m | €0.05m | €0.08m | €0.09m | €0.1m | ▲ 31.0% |
| Amounts payable17/49 | €66.9m | €60.2m | €59.3m | €68.6m | €89.8m | €94.3m | €91.8m | €98.6m | ▲ 7.4% |
| Amounts payable after more than one year17 | €16.8m | €14.9m | €12.3m | €10.1m | €23.8m | €18.5m | €13.8m | €8.7m | ▼ 36.4% |
| Financial debts170/4 | - | - | - | €10.1m | €23.8m | €18.5m | €13.8m | €8.7m | ▼ 36.4% |
| Leasing and similar obligations172 | - | - | - | €0.5m | €0.5m | €0.2m | €0.6m | €0.6m | ▲ 14.2% |
| Credit institutions173 | - | - | - | - | €6.1m | €5.5m | €4.8m | €4.1m | ▼ 14.4% |
| Other loans174 | - | - | - | €9.6m | €17.2m | €12.8m | €8.4m | €4.0m | ▼ 52.4% |
| Amounts payable within one year42/48 | €50.1m | €45.3m | €46.9m | €58.5m | €65.9m | €75.7m | €78.0m | €89.7m | ▲ 15.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2.8m | €5.5m | €5.4m | €5.5m | €7.4m | ▲ 35.2% |
| Financial debts43 | - | - | - | - | €1.3m | €3.3m | - | €1.7m | - |
| Credit institutions430/8 | - | - | - | - | €1.3m | €3.3m | - | €1.7m | - |
| Trade debts44 | €24.4m | €21.2m | €22.3m | €26.4m | €33.5m | €41.2m | €42.1m | €48.2m | ▲ 14.4% |
| Suppliers440/4 | - | - | - | €26.4m | €33.5m | €41.2m | €42.1m | €48.2m | ▲ 14.4% |
| Advances received on contracts in progress46 | - | - | - | €11.8m | €11.8m | €10.1m | €9.1m | €8.1m | ▼ 11.2% |
| Taxes, remuneration and social security45 | - | - | - | €4.4m | €3.9m | €5.2m | €5.4m | €5.3m | ▼ 2.7% |
| Taxes450/3 | - | - | - | €1.1m | €0.05m | €1.3m | €0.9m | €1.2m | ▲ 31.6% |
| Remuneration and social security454/9 | - | - | - | €3.3m | €3.9m | €4.0m | €4.5m | €4.1m | ▼ 9.4% |
| Other amounts payable47/48 | - | - | - | €13.1m | €9.8m | €10.6m | €15.8m | €19.0m | ▲ 20.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.05m | €0.07m | €0.07m | €0.07m | €0.08m | ▲ 8.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.6m | €4.2m | €3.1m | €4.0m | €8.3m | €3.3m | €4.6m | €7.8m | ▲ 69.1% |
| + Depreciation and write-downs630 | €2.3m | €2.5m | €3.1m | €3.4m | €3.4m | €3.7m | €4.0m | €4.2m | ▲ 5.4% |
| Operating cash flow (approximation) | €4.9m | €6.7m | €6.2m | €7.4m | €11.6m | €6.9m | €8.6m | €12.0m | ▲ 39.7% |
| Investment in fixed assets (approximation) | - | -€4.8m | -€2.8m | -€8.0m | -€20.8m | -€2.3m | -€4.9m | -€6.9m | ▼ 41.2% |
| Change in cash | - | -€1.3m | -€0.4m | €0.006m | -€0.9m | €0.08m | -€0.08m | -€0.06m | ▲ 29.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 51 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 13-07-2026 | 2026-00292857 | NBB |
| 31-12-2024 | full format | 06-08-2025 | 2025-00369269 | |
| 31-12-2023 | full format | 06-12-2024 | 2024-00613480 | |
| 31-12-2022 | full format | 12-07-2023 | 2023-00237262 | |
| 31-12-2021 | full format | 29-07-2022 | 2022-20267518 | |
| 31-12-2020 | full format | 08-07-2021 | 2021-33100355 | |
| 31-12-2019 | full format | 08-10-2020 | 2020-60300199 | |
| 31-12-2018 | full format | 05-07-2019 | 2019-29700337 | |
| 31-12-2017 | full format | 28-06-2018 | 2018-25800089 | |
| 31-12-2016 | full format | 10-07-2017 | 2017-29700118 |