Springtide Projects
Annual accounts 2025
micro format, filed on 29-07-2026, 2 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €22,570 on 31-12-2025Change in equityin euro
Change in cash
Position in the sector
Solvency-111.3%
Lower than 95% of 8,600 companies in 2025.
Current ratio0.46
Higher than 10% of 8,278 companies in 2025.
Return on assets-216.7%
Lower than 95% of 8,387 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
Total assets20/58 |
22,570 | 74,674 | 194,940 | 78,049 | 39,997 | |
Formation expenses20 |
- | - | - | - | 592 | |
Fixed assets21/28 |
411 | 1,661 | 3,621 | 3,171 | 1,185 | |
Tangible fixed assets22/27 |
411 | 1,661 | 3,621 | 3,171 | 1,185 | |
Furniture and vehicles24 |
411 | 1,661 | 3,621 | 3,171 | 1,185 | |
Current assets29/58 |
22,159 | 73,012 | 191,319 | 74,878 | 38,220 | |
Amounts receivable within one year40/41 |
16,575 | 50,346 | 189,501 | 12,787 | 21,107 | |
Trade receivables40 |
- | - | 17,242 | - | 18,107 | |
Other amounts receivable41 |
16,575 | 50,346 | 172,259 | 12,787 | 3,000 | |
Cash at bank and in hand54/58 |
- | 13,924 | 1,568 | 62,091 | 16,847 | |
Deferred charges and accrued income490/1 |
5,584 | 8,743 | 250 | - | 266 | |
| Balance sheet: equity and liabilities | ||||||
Total equity and liabilities10/49 |
22,570 | 74,674 | 194,940 | 78,049 | 39,997 | |
Equity10/15 |
-25,131 | 23,772 | 182,252 | 75,795 | 18,404 | |
Contributions10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
Profit (loss) carried forward14 |
-35,131 | 13,772 | 172,252 | 65,795 | 8,404 | |
Amounts payable17/49 |
47,701 | 50,902 | 12,689 | 2,254 | 21,593 | |
Amounts payable within one year42/48 |
47,701 | 50,901 | 12,689 | 2,254 | 21,593 | |
Financial debts43 |
6 | - | - | - | - | |
Other loans439 |
6 | - | - | - | - | |
Trade debts44 |
1,659 | 898 | 987 | 620 | - | |
Suppliers440/4 |
1,659 | 898 | 987 | 620 | - | |
Taxes, remuneration and social security45 |
3,128 | 9,004 | 11,701 | 1,500 | 8,299 | |
Taxes450/3 |
3,128 | 9,004 | 11,701 | 1,500 | 8,299 | |
Other amounts payable47/48 |
42,908 | 41,000 | - | 134 | 13,294 | |
Accrued charges and deferred income492/3 |
- | 1 | - | - | - | |
| Income statement | ||||||
Gross operating margin9900 |
-45,962 | 62,381 | 138,177 | 80,886 | 12,793 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
1,250 | 1,960 | 1,899 | 1,653 | 2,174 | |
Other operating charges640/8 |
669 | 1,001 | 151 | 135 | 162 | |
Operating profit (loss)9901 |
-47,882 | 59,420 | 136,126 | 79,098 | 10,457 | |
Financial income75/76B |
- | 6,729 | 815 | - | - | |
Recurring financial income75 |
- | 6,729 | 815 | - | - | |
Financial charges65/66B |
1,022 | 514 | 1,031 | 1,581 | 53 | |
Recurring financial charges65 |
1,022 | 514 | 1,031 | 1,581 | 53 | |
Profit (loss) for the period before taxes9903 |
-48,903 | 65,636 | 135,910 | 77,517 | 10,404 | |
Income taxes67/77 |
- | 13,115 | 29,454 | 20,126 | 2,000 | |
Profit (loss) for the period9904 |
-48,903 | 52,520 | 106,456 | 57,391 | 8,404 | |
Profit (loss) for the period to be appropriated9905 |
-48,903 | 52,520 | 106,456 | 57,391 | 8,404 | |
| Appropriation of the result | ||||||
Profit (loss) to be appropriated9906 |
-35,131 | 224,772 | 172,252 | 65,795 | 8,404 | |
Profit (loss) brought forward from the previous period14P |
13,772 | 172,252 | 65,795 | 8,404 | - | |
Profit to be distributed694/7 |
- | 211,000 | - | - | - | |
Return on contributions (dividend)694 |
- | 211,000 | - | - | - | |
| Document | ||||||
The notes to these accounts have 4 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 29-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00369585 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00451399 | |
| 31-12-2023 | micro format | 03-08-2024 | 2024-00331568 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00199585 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20145750 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| EBITDA | -46,631 | 61,380 | 138,025 | 80,751 | 12,631 | |
| Cash flow | -47,653 | 54,480 | 108,356 | 59,044 | 10,578 | |
| Investment in fixed assets (approximation) | 0 | 0 | 2,349 | 3,047 | 1,535 | |
| Change in cash | - | 12,356 | -60,523 | 45,244 | - | |
| Working capital | -25,542 | 22,111 | 178,630 | 72,624 | 16,627 | |
| Solvency | -111.3% | 31.8% | 93.5% | 97.1% | 46.0% | |
| Current ratio | 0.46 | 1.43 | 15.08 | 33.22 | 1.77 | |
| Debt to equity | - | 2.14 | 0.07 | 0.03 | 1.17 | |
| ROE | - | 220.9% | 58.4% | 75.7% | 45.7% | |
| ROA | -216.7% | 70.3% | 54.6% | 73.5% | 21.0% | |
| Interest coverage | -45.65 | over 100 | over 100 | 51.09 | over 100 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,349 | €3,047 | €1,535 |
| Depreciation and write-downs of the year | €1,250 | €1,960 | €1,899 | €1,653 | €2,174 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on Springtide Projects
The operating result for 2025 is a loss of €47,882, after a profit of €59,420 in 2024. It is the lowest result since 2021.
Equity is negative. Debt (€47,701) exceeds the balance-sheet total (€22,570).