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ActiveFinancials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 4 November 2026.
Annual accounts 2023 filed on 30-08-2024 PDF all 3 filings
Turnover
≈ €460,000
Estimated: probably between €340,000 and €910,000
EBIT margin
Not included in this filing
Net result
€172,229▼ 17.3%
2022 · €208,197
Working capital
€513,159▲ 57.1%
2022 · €326,686
Multi-year overview
2021 to 2023, 3 financial yearsOperating result
€244,002
▼ 18.1%
2023
20212023
Net result
€172,229
▼ 17.3%
2023
highest quarter of the sector
20212023
Equity
€520,374
▲ 49.5%
2023
highest quarter of the sector
20212023
Total assets
€843,005
▲ 64.1%
2023
highest quarter of the sector
20212023
Debt
€322,631
▲ 94.9%
2023
20212023
Working capital
€513,159
▲ 57.1%
2023
highest quarter of the sector
20212023
Solvency
61.7%
▼ 6.0pp
2023
middle half of the sector
20212023
Current ratio
3.73
▲ 0.75
2023
middle half of the sector
20212023
Return on assets (ROA)
20.4%
▼ 20.1pp
2023
middle half of the sector
20212023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023
Operating result€193,359-€297,808▲ 54.0%€244,002▼ 18.1%
Net result€136,947above the sector's middle half-€208,197above the sector's middle half▲ 52.0%€172,229above the sector's middle half▼ 17.3%
Equity€139,947within the sector's middle half-€348,145above the sector's middle half▲ 149%€520,374above the sector's middle half▲ 49.5%
Total assets€217,226within the sector's middle half-€513,685above the sector's middle half▲ 136%€843,005above the sector's middle half▲ 64.1%
Debt€77,279-€165,541▲ 114%€322,631▲ 94.9%
Working capital€117,280within the sector's middle half-€326,686above the sector's middle half▲ 179%€513,159above the sector's middle half▲ 57.1%
Solvency64.4%within the sector's middle half-67.8%within the sector's middle half▲ 3.3pp61.7%within the sector's middle half▼ 6.0pp
Current ratio2.52within the sector's middle half-2.97within the sector's middle half▲ 0.463.73within the sector's middle half▲ 0.75
Return on assets (ROA)63.0%above the sector's middle half-40.5%above the sector's middle half▼ 22.5pp20.4%within the sector's middle half▼ 20.1pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 2023 is 18% lower than in 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €843,005
Fixed assets
€141,734 ▲ 560%
Current assets
€701,271 ▲ 42.5%
Equity and liabilities €843,005
Equity
€520,374 ▲ 49.5%
Debt
€322,631 ▲ 94.9%
Debt's share of the balance-sheet total rises from 32.2% to 38.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€245,935▼
2022 · €299,016
Cash flow
€174,162▼
2022 · €209,405
Debt to equity
0.62▲
2022 · 0.48
ROE
33.1%▼
2022 · 59.8%
Interest coverage
96.21▼
2022 · over 100
Debt ≤ 1 year
€188,112▲
2022 · €165,541
Debt > 1 year
€134,519
Income taxes
€71,216▼
2022 · €90,878
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €3,834 | - | €122,207 |
| Financial fixed assets | €20,000 | - | - |
| Depreciation and write-downs of the year | €1,167 | €1,208 | €1,933 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,167 | €1,208 | €1,933 | ▲ 60.0% |
| Other operating charges640/8 | €1,140 | €1,194 | €1,139 | ▼ 4.6% |
| Gross operating margin9900 | €195,667 | €300,210 | €247,074 | ▼ 17.7% |
| Operating profit (loss)9901 | €193,359 | €297,808 | €244,002 | ▼ 18.1% |
| Financial income75/76B | €2,400 | €2,800 | €2,000 | ▼ 28.6% |
| Recurring financial income75 | €2,400 | €2,800 | €2,000 | ▼ 28.6% |
| Financial charges65/66B | €1,567 | €1,533 | €2,556 | ▲ 66.8% |
| Recurring financial charges65 | €1,567 | €1,533 | €2,556 | ▲ 66.8% |
| Profit (loss) for the period before taxes9903 | €194,193 | €299,075 | €243,446 | ▼ 18.6% |
| Income taxes67/77 | €57,246 | €90,878 | €71,216 | ▼ 21.6% |
| Profit (loss) for the period9904 | €136,947 | €208,197 | €172,229 | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €136,947 | €208,197 | €172,229 | ▼ 17.3% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €217,226 | €513,685 | €843,005 | ▲ 64.1% |
| Fixed assets21/28 | €22,667 | €21,459 | €141,734 | ▲ 560% |
| Tangible fixed assets22/27 | €2,667 | €1,459 | €121,734 | ▲ 83× |
| Land and buildings22 | - | - | €121,483 | - |
| Plant, machinery and equipment23 | €437 | €332 | €227 | ▼ 31.7% |
| Furniture and vehicles24 | €2,230 | €1,127 | €24 | ▼ 97.9% |
| Financial fixed assets28 | €20,000 | €20,000 | €20,000 | = |
| Current assets29/58 | €194,559 | €492,226 | €701,271 | ▲ 42.5% |
| Amounts receivable after more than one year29 | €60,000 | €130,000 | €180,000 | ▲ 38.5% |
| Other amounts receivable291 | €60,000 | €130,000 | €180,000 | ▲ 38.5% |
| Amounts receivable within one year40/41 | €2,809 | €33,449 | €71,612 | ▲ 114% |
| Trade receivables40 | €2,809 | €3,449 | €31,862 | ▲ 824% |
| Other amounts receivable41 | - | €30,000 | €39,750 | ▲ 32.5% |
| Cash at bank and in hand54/58 | €131,750 | €317,968 | €449,660 | ▲ 41.4% |
| Deferred charges and accrued income490/1 | - | €10,809 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €217,226 | €513,685 | €843,005 | ▲ 64.1% |
| Equity10/15 | €139,947 | €348,145 | €520,374 | ▲ 49.5% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Capital10 | €3,000 | - | - | - |
| Issued capital100 | €3,000 | - | - | - |
| Reserves13 | €136,947 | €345,145 | €517,374 | ▲ 49.9% |
| Distributable reserves133 | €136,947 | €345,145 | €517,374 | ▲ 49.9% |
| Amounts payable17/49 | €77,279 | €165,541 | €322,631 | ▲ 94.9% |
| Amounts payable after more than one year17 | - | - | €134,519 | - |
| Financial debts170/4 | - | - | €134,519 | - |
| Amounts payable within one year42/48 | €77,279 | €165,541 | €188,112 | ▲ 13.6% |
| Current portion of amounts payable after more than one year42 | - | - | €7,472 | - |
| Trade debts44 | €2,651 | €1,462 | €3,179 | ▲ 117% |
| Suppliers440/4 | €2,651 | €1,462 | €3,179 | ▲ 117% |
| Taxes, remuneration and social security45 | €70,378 | €160,752 | €174,094 | ▲ 8.3% |
| Taxes450/3 | €70,378 | €160,752 | €174,094 | ▲ 8.3% |
| Other amounts payable47/48 | €4,249 | €3,327 | €3,367 | ▲ 1.2% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €136,947 | €208,197 | €172,229 | ▼ 17.3% |
| + Depreciation and write-downs630 | €1,167 | €1,208 | €1,933 | ▲ 60.0% |
| Operating cash flow (approximation) | €138,114 | €209,405 | €174,162 | ▼ 16.8% |
| Investment in fixed assets (approximation) | - | €0 | -€122,207 | - |
| Change in cash | - | €186,219 | €131,691 | ▼ 29.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.