Software Development
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 9 days after the deadline Filed on 9 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00037815.
Annual accounts 2025 filed on 09-02-2026 PDF all 30 filings
Equity
€90,918▼ 15.6%
2024 · €107,727
Total assets
€192,299▼ 12.2%
2024 · €218,953
Net result
-€16,809▼ 607%
2024 · -€2,378
Working capital
-€63,061▼ 19.4%
2024 · -€52,831
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€15,760
▼ 617%
2025
20192025
Net result
-€16,809
▼ 607%
2025
lowest quarter of the sector
20192025
Equity
€90,918
▼ 15.6%
2025
middle half of the sector
20192025
Total assets
€192,299
▼ 12.2%
2025
middle half of the sector
20192025
Debt
€101,381
▼ 8.9%
2025
20192025
Working capital
-€63,061
▼ 19.4%
2025
lowest quarter of the sector
20192025
Solvency
47.3%
▼ 1.9pp
2025
middle half of the sector
20192025
Current ratio
0.38
▼ 0.15
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-8.7%
▼ 7.7pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€2,811-€5,853▲ 108%€6,262▲ 7.0%€5,322▼ 15.0%€2,241▼ 57.9%-€2,198-€15,760▼ 617%
Net result€2,258-€5,625within the sector's middle half▲ 149%€5,776within the sector's middle half▲ 2.7%€3,104within the sector's middle half▼ 46.3%€1,366within the sector's middle half▼ 56.0%-€2,378within the sector's middle half-€16,809below the sector's middle half▼ 607%
Equity€94,234-€99,859within the sector's middle half▲ 6.0%€105,634within the sector's middle half▲ 5.8%€108,739within the sector's middle half▲ 2.9%€110,105within the sector's middle half▲ 1.3%€107,727within the sector's middle half▼ 2.2%€90,918within the sector's middle half▼ 15.6%
Total assets€216,315-€201,263within the sector's middle half▼ 7.0%€195,462below the sector's middle half▼ 2.9%€237,104within the sector's middle half▲ 21.3%€213,814below the sector's middle half▼ 9.8%€218,953within the sector's middle half▲ 2.4%€192,299within the sector's middle half▼ 12.2%
Debt€122,081-€101,404▼ 16.9%€89,828▼ 11.4%€128,365▲ 42.9%€103,709▼ 19.2%€111,225▲ 7.2%€101,381▼ 8.9%
Working capital-€86,097--€77,669below the sector's middle half▲ 9.8%-€66,838below the sector's middle half▲ 13.9%-€62,907below the sector's middle half▲ 5.9%-€55,443below the sector's middle half▲ 11.9%-€52,831below the sector's middle half▲ 4.7%-€63,061below the sector's middle half▼ 19.4%
Solvency43.6%-49.6%within the sector's middle half▲ 6.1pp54.0%within the sector's middle half▲ 4.4pp45.9%within the sector's middle half▼ 8.2pp51.5%within the sector's middle half▲ 5.6pp49.2%within the sector's middle half▼ 2.3pp47.3%within the sector's middle half▼ 1.9pp
Current ratio0.29-0.23below the sector's middle half▼ 0.060.26below the sector's middle half▲ 0.020.51below the sector's middle half▲ 0.250.47below the sector's middle half▼ 0.040.53below the sector's middle half▲ 0.060.38below the sector's middle half▼ 0.15
Return on assets (ROA)1.0%-2.8%within the sector's middle half▲ 1.8pp3.0%within the sector's middle half▲ 0.2pp1.3%within the sector's middle half▼ 1.6pp0.6%within the sector's middle half▼ 0.7pp-1.1%within the sector's middle half▼ 1.7pp-8.7%below the sector's middle half▼ 7.7pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 operating result for 2025 is a loss of €15,760, larger than the loss of €2,198 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €192,299
Fixed assets
€153,979 ▼ 4.1%
Current assets
€38,320 ▼ 34.4%
Equity and liabilities €192,299
Equity
€90,918 ▼ 15.6%
Debt
€101,381 ▼ 8.9%
Debt's share of the balance-sheet total rises from 50.8% to 52.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€9,180▼
2024 · €4,235
Cash flow
-€10,230▼
2024 · €4,056
Debt to equity
1.12▲
2024 · 1.03
ROE
-18.5%▼
2024 · -2.2%
Interest coverage
-8.75▼
2024 · 23.62
Debt ≤ 1 year
€101,381▼
2024 · €111,225
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €5,212 | - | €1,445 | - |
| Depreciation and write-downs of the year | €6,038 | €6,098 | €6,434 | €6,580 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,835 | €5,012 | €5,056 | €6,038 | €6,098 | €6,434 | €6,580 | ▲ 2.3% |
| Other operating charges640/8 | - | - | - | €3,436 | €4,227 | €4,503 | €4,637 | ▲ 3.0% |
| Gross operating margin9900 | €10,674 | €14,339 | €14,682 | €14,796 | €12,567 | €8,738 | -€4,543 | - |
| Operating profit (loss)9901 | €2,811 | €5,853 | €6,262 | €5,322 | €2,241 | -€2,198 | -€15,760 | ▼ 617% |
| Financial income75/76B | - | - | - | - | - | - | €0 | - |
| Recurring financial income75 | €1 | €0 | €0 | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €1,236 | €314 | €179 | €1,050 | ▲ 485% |
| Recurring financial charges65 | €554 | €228 | €487 | €1,236 | €314 | €179 | €1,050 | ▲ 485% |
| Profit (loss) for the period before taxes9903 | €2,258 | €5,625 | €5,776 | €4,087 | €1,927 | -€2,378 | -€16,809 | ▼ 607% |
| Income taxes67/77 | - | - | - | €982 | €560 | - | - | - |
| Profit (loss) for the period9904 | €2,258 | €5,625 | €5,776 | €3,104 | €1,366 | -€2,378 | -€16,809 | ▼ 607% |
| Profit (loss) for the period to be appropriated9905 | €2,258 | €5,625 | €5,776 | €3,104 | €1,366 | -€2,378 | -€16,809 | ▼ 607% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €216,315 | €201,263 | €195,462 | €237,104 | €213,814 | €218,953 | €192,299 | ▼ 12.2% |
| Fixed assets21/28 | €180,331 | €177,528 | €172,472 | €171,646 | €165,548 | €160,559 | €153,979 | ▼ 4.1% |
| Tangible fixed assets22/27 | €69,556 | €66,754 | €61,698 | €60,871 | €54,773 | €49,784 | €43,205 | ▼ 13.2% |
| Land and buildings22 | - | - | - | €52,431 | €48,033 | €43,635 | €39,237 | ▼ 10.1% |
| Plant, machinery and equipment23 | - | - | - | €4,229 | €3,187 | €2,145 | €1,102 | ▼ 48.6% |
| Furniture and vehicles24 | - | - | - | €4,211 | €3,553 | €4,005 | €2,865 | ▼ 28.5% |
| Financial fixed assets28 | €110,774 | €110,774 | €110,774 | €110,774 | €110,774 | €110,774 | €110,774 | = |
| Current assets29/58 | €35,985 | €23,735 | €22,990 | €65,458 | €48,266 | €58,394 | €38,320 | ▼ 34.4% |
| Amounts receivable within one year40/41 | €27,346 | €20,586 | €16,379 | €37,634 | €21,404 | €54,647 | €32,686 | ▼ 40.2% |
| Trade receivables40 | - | - | - | €33,543 | €16,816 | €52,186 | €30,129 | ▼ 42.3% |
| Other amounts receivable41 | - | - | - | €4,092 | €4,588 | €2,461 | €2,557 | ▲ 3.9% |
| Cash at bank and in hand54/58 | €8,639 | €3,149 | €6,612 | €27,767 | €26,805 | €3,689 | €5,575 | ▲ 51.2% |
| Deferred charges and accrued income490/1 | - | - | - | €56 | €57 | €58 | €59 | ▲ 1.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €216,315 | €201,263 | €195,462 | €237,104 | €213,814 | €218,953 | €192,299 | ▼ 12.2% |
| Equity10/15 | €94,234 | €99,859 | €105,634 | €108,739 | €110,105 | €107,727 | €90,918 | ▼ 15.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €44,226 | €44,226 | €44,226 | €44,386 | €44,572 | €44,572 | €44,572 | = |
| Non-distributable reserves130/1 | - | - | - | €3,610 | €3,796 | €3,796 | €3,796 | = |
| Legal reserve130 | - | - | - | €3,610 | €3,796 | €3,796 | €3,796 | = |
| Distributable reserves133 | - | - | - | €40,776 | €40,776 | €40,776 | €40,776 | = |
| Profit (loss) carried forward14 | -€11,992 | -€6,367 | -€592 | €2,353 | €3,533 | €1,155 | -€15,654 | - |
| Amounts payable17/49 | €122,081 | €101,404 | €89,828 | €128,365 | €103,709 | €111,225 | €101,381 | ▼ 8.9% |
| Amounts payable within one year42/48 | €122,081 | €101,404 | €89,828 | €128,365 | €103,709 | €111,225 | €101,381 | ▼ 8.9% |
| Trade debts44 | €42,061 | €21,054 | €7,083 | €46,183 | €21,586 | €25,999 | €12,691 | ▼ 51.2% |
| Suppliers440/4 | - | - | - | €46,183 | €21,586 | €25,999 | €12,691 | ▼ 51.2% |
| Taxes, remuneration and social security45 | - | - | - | €982 | €560 | - | - | - |
| Taxes450/3 | - | - | - | €982 | €560 | - | - | - |
| Other amounts payable47/48 | - | - | - | €81,200 | €81,562 | €85,226 | €88,690 | ▲ 4.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,258 | €5,625 | €5,776 | €3,104 | €1,366 | -€2,378 | -€16,809 | ▼ 607% |
| + Depreciation and write-downs630 | €4,835 | €5,012 | €5,056 | €6,038 | €6,098 | €6,434 | €6,580 | ▲ 2.3% |
| Operating cash flow (approximation) | €7,093 | €10,637 | €10,831 | €9,142 | €7,465 | €4,056 | -€10,230 | - |
| Investment in fixed assets (approximation) | - | -€2,210 | €0 | -€5,212 | €0 | -€1,445 | €0 | - |
| Change in cash | - | -€5,490 | €3,463 | €21,156 | -€962 | -€23,117 | €1,887 | - |
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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 09-02-2026 | 2026-00037815 | |
| 30-06-2024 | abbreviated format | 27-01-2025 | 2025-00024352 | |
| 30-06-2023 | abbreviated format | 21-12-2023 | 2023-00537581 | |
| 30-06-2022 | abbreviated format | 19-12-2022 | 2022-20544516 | |
| 30-06-2021 | abbreviated format | 27-01-2022 | 2022-02500125 | |
| 30-06-2020 | abbreviated format | 08-02-2021 | 2021-05200076 | |
| 30-06-2019 | abbreviated format | 29-01-2020 | 2020-03700262 | |
| 30-06-2018 | micro format | 10-01-2019 | 2019-01200350 | |
| 30-06-2017 | abbreviated format | 29-01-2018 | 2018-03200268 | |
| 30-06-2016 | abbreviated format | 23-01-2017 | 2017-02400488 |