SOLFIN
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€2,303
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
29 d early
2024
21 d early
2023
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 29 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2025, micro schema
Turnover
€1,568▲ 4.5%
2024 · €1,500
EBIT margin
-153.3%▲ 50.7pp
2024 · -204.1%
Net result
-€3,281▲ 15.7%
2024 · -€3,894
Working capital
-€19,599▼ 4.9%
2024 · -€18,681
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Turnover€625-€1,500▲ 140%€1,568▲ 4.5%
Operating result-€4,177--€3,061▲ 26.7%-€2,404▲ 21.4%
Net result-€5,128--€3,894▲ 24.1%-€3,281▲ 15.7%
EBIT margin-668.3%--204.1%▲ 464.2pp-153.3%▲ 50.7pp
Equity€4,872-€978▼ 79.9%-€2,303
Total assets€31,004-€27,680▼ 10.7%€26,000▼ 6.1%
Debt€26,132-€26,702▲ 2.2%€28,304▲ 6.0%
Working capital-€17,151--€18,681▼ 8.9%-€19,599▼ 4.9%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2,404 in 2025 against €3,061 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26,000
Fixed assets
€17,296 ▼ 12.0%
Current assets
€8,704 ▲ 8.5%
Key figures and ratios
EBITDA
-€41▲
2024 · -€698
Cash flow
-€918▲
2024 · -€1,530
Solvency
-8.9%▼
2024 · 3.5%
Current ratio
0.31▲
2024 · 0.30
Debt to equity
-12.29
ROA
-12.6%▲
2024 · -14.1%
Interest coverage
-0.05▲
2024 · -0.84
Debt ≤ 1 year
€28,304▲
2024 · €26,702
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Operating income70/76A | €625 | - | - | - |
| Turnover70 | €625 | €1,500 | €1,568 | ▲ 4.5% |
| Operating charges60/66A | €4,802 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €1,222 | €898 | ▼ 26.5% |
| Services and other goods61 | €1,568 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,502 | €2,363 | €2,363 | = |
| Other operating charges640/8 | €732 | €975 | €711 | ▼ 27.1% |
| Gross operating margin9900 | - | €278 | €670 | ▲ 141% |
| Operating profit (loss)9901 | -€4,177 | -€3,061 | -€2,404 | ▲ 21.4% |
| Financial charges65/66B | €951 | €833 | €877 | ▲ 5.3% |
| Recurring financial charges65 | €951 | €833 | €877 | ▲ 5.3% |
| Debt charges650 | €723 | - | - | - |
| Other financial charges652/9 | €228 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€5,128 | -€3,894 | -€3,281 | ▲ 15.7% |
| Profit (loss) for the period9904 | -€5,128 | -€3,894 | -€3,281 | ▲ 15.7% |
| Profit (loss) for the period to be appropriated9905 | -€5,128 | -€3,894 | -€3,281 | ▲ 15.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €31,004 | €27,680 | €26,000 | ▼ 6.1% |
| Fixed assets21/28 | €22,023 | €19,660 | €17,296 | ▼ 12.0% |
| Tangible fixed assets22/27 | €22,023 | €19,660 | €17,296 | ▼ 12.0% |
| Plant, machinery and equipment23 | €22,023 | €19,660 | €17,296 | ▼ 12.0% |
| Current assets29/58 | €8,981 | €8,021 | €8,704 | ▲ 8.5% |
| Amounts receivable within one year40/41 | €303 | €954 | €215 | ▼ 77.4% |
| Trade receivables40 | €303 | €841 | €158 | ▼ 81.2% |
| Other amounts receivable41 | €0 | €113 | €57 | ▼ 49.4% |
| Cash at bank and in hand54/58 | €8,678 | €7,067 | €8,489 | ▲ 20.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €31,004 | €27,680 | €26,000 | ▼ 6.1% |
| Equity10/15 | €4,872 | €978 | -€2,303 | ▼ 335% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€5,128 | -€9,022 | -€12,303 | ▼ 36.4% |
| Amounts payable17/49 | €26,132 | €26,702 | €28,304 | ▲ 6.0% |
| Amounts payable within one year42/48 | €26,132 | €26,702 | €28,304 | ▲ 6.0% |
| Financial debts43 | €25,723 | €26,406 | €27,100 | ▲ 2.6% |
| Other loans439 | €25,723 | €26,406 | €27,100 | ▲ 2.6% |
| Trade debts44 | €384 | €296 | €1,203 | ▲ 307% |
| Suppliers440/4 | €384 | €296 | €1,203 | ▲ 307% |
| Taxes, remuneration and social security45 | €24 | - | - | - |
| Taxes450/3 | €24 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,128 | -€3,894 | -€3,281 | ▲ 15.7% |
| + Depreciation and write-downs630 | €2,502 | €2,363 | €2,363 | = |
| Operating cash flow (approximation) | -€2,626 | -€1,530 | -€918 | ▲ 40.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€1,611 | €1,422 | ▲ 188% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
27-03
State Gazette act
Restructuring · End & cessationMerger · Dissolution · Power of attorney3 facts ▸
State Gazette act
Restructuring · End & cessation
Merger · Dissolution · Power of attorney3 facts ▸
- Merger, COGENFIN
- Dissolution, fusion
- Power of attorney, Denis QUETIN
16-01
State Gazette act
RestructuringMerger · Accounting effect · Power of attorney6 facts ▸
State Gazette act
Restructuring
Merger · Accounting effect · Power of attorney6 facts ▸
- Merger, transfert par suite d'une dissolution sans liquidation, l'intégralité du patrimoine actif et passif de la société SOLFIN à la société COGENFIN
- Accounting effect, 01-01-2026
- Power of attorney, FISCOGED
- Ownership, 100%
- Accounting regime, neutralité comptable sur base des états comptables intermédiaires des deux sociétés arrêtés au 31 décembre 2025
- Cost allocation, Le coût de l'opération de fusion sera supporté par la SRL COGENFIN
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
State Gazette actNBB filing
2 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Structure & network
Owners and holdings
2 ownersChain of control
- BLUE PEARL ENERGYLU
- SOLFIN
Highest known parent: BLUE PEARL ENERGY (Luxembourg). The sources do not say who stands above it.
Owners 2
- BLUE PEARL ENERGYLUparentSourceown accounts 2023100%
- COGENFINparentSourceact 16-01-2026100%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of SOLFIN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:COGENFIN