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Annual accounts 2025
micro format, filed on 18-06-2026, 43 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €250,000. Estimated: probably between €150,000 and €520,000.
Balance sheet
balance sheet total €39,950 on 31-12-2025in euro
in euro
Position in the sector
84.7%
Higher than 90% of 35,156 companies in 2025.
6.43
Higher than 89% of 34,529 companies in 2025.
13.3%
Higher than 66% of 34,730 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
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 | ||||||
20/58 |
39,950 | 34,055 | 24,732 | 18,329 | 19,771 | |
21/28 |
706 | 2,125 | 4,581 | 6,619 | 10,650 | |
22/27 |
706 | 2,125 | 4,581 | 6,619 | 10,650 | |
23 |
182 | 383 | 961 | 2,456 | 2,509 | |
24 |
525 | 1,742 | 3,620 | 4,163 | 8,141 | |
29/58 |
39,244 | 31,930 | 20,151 | 11,710 | 9,121 | |
40/41 |
28,162 | 27,363 | 19,110 | 3,875 | 8,367 | |
40 |
13,273 | 13,385 | 7,350 | 2,198 | 906 | |
41 |
14,889 | 13,978 | 11,760 | 1,678 | 7,461 | |
54/58 |
10,627 | 4,567 | 1,041 | 7,728 | 755 | |
490/1 |
456 | - | - | 107 | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
39,950 | 34,055 | 24,732 | 18,329 | 19,771 | |
10/15 |
33,850 | 28,525 | 17,411 | 9,589 | 5,394 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
11 |
- | - | - | 5,000 | 5,000 | |
1109/19 |
- | - | - | 5,000 | 5,000 | |
14 |
28,850 | 23,525 | 12,411 | 4,589 | 394 | |
17/49 |
6,100 | 5,530 | 7,320 | 8,740 | 14,377 | |
42/48 |
6,100 | 5,530 | 7,320 | 8,740 | 14,377 | |
44 |
468 | - | 14 | 415 | 3,037 | |
440/4 |
468 | - | 14 | 415 | 3,037 | |
45 |
5,632 | 5,530 | 7,306 | 6,323 | 425 | |
450/3 |
5,632 | 5,530 | 2,306 | 1,323 | 425 | |
454/9 |
- | - | 5,000 | 5,000 | - | |
47/48 |
- | - | - | 2,002 | 10,915 | |
| Income statement | ||||||
9900 |
24,868 | 18,198 | 15,831 | 12,121 | 7,865 | |
62 |
400 | - | - | - | - | |
630 |
1,419 | 2,766 | 5,551 | 6,177 | 6,252 | |
640/8 |
1,355 | 854 | - | 348 | 703 | |
66A |
12,800 | - | - | - | - | |
9901 |
8,895 | 14,577 | 10,280 | 5,597 | 909 | |
75/76B |
97 | 27 | 1 | 72 | 42 | |
75 |
97 | 27 | 1 | 72 | 42 | |
65/66B |
341 | 267 | 152 | 151 | 131 | |
65 |
341 | 267 | 152 | 151 | 131 | |
9903 |
8,651 | 14,337 | 10,129 | 5,518 | 819 | |
67/77 |
3,325 | 3,224 | 2,306 | 1,323 | 425 | |
9904 |
5,326 | 11,113 | 7,822 | 4,195 | 394 | |
9905 |
5,326 | 11,113 | 7,822 | 4,195 | 394 | |
| Appropriation of the result | ||||||
9906 |
28,850 | 23,525 | 12,411 | 4,589 | 394 | |
14P |
23,525 | 12,411 | 4,589 | 394 | - | |
| 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 18-06-2026.
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 | 18-06-2026 | 2026-00178755 | |
| 31-12-2024 | micro format | 05-06-2025 | 2025-00129693 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00215985 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00225959 | |
| 31-12-2021 | micro format | 21-06-2022 | 2022-20086812 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 10,313 | 17,344 | 15,831 | 11,774 | 7,162 | ||
| 6,744 | 13,880 | 13,373 | 10,372 | 6,646 | ||
| 0 | 310 | 3,512 | 2,146 | 16,902 | ||
| 6,060 | 3,526 | -6,687 | 6,973 | - | ||
| 33,144 | 26,400 | 12,831 | 2,970 | -5,256 | ||
| 84.7% | 83.8% | 70.4% | 52.3% | 27.3% | ||
| 6.43 | 5.77 | 2.75 | 1.34 | 0.63 | ||
| 0.18 | 0.19 | 0.42 | 0.91 | 2.67 | ||
| 15.7% | 39.0% | 44.9% | 43.7% | 7.3% | ||
| 13.3% | 32.6% | 31.6% | 22.9% | 2.0% | ||
| 30.27 | 64.90 | over 100 | 77.89 | 54.48 |
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.
Overdue debts
tax and social security| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €2,306 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €310 | €3,512 | - | €16,902 |
| €1,419 | €2,766 | €5,551 | €6,177 | €6,252 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on START CONSTRUCT
The operating result for 2025 is 39% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total falls from 16.2% to 15.3%. Equity and debt are higher.