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Annual accounts 2025
micro format, filed on 25-06-2026, 36 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 ≈ €31,000. Estimated: probably between €14,000 and €62,000.
Balance sheet
balance sheet total €30,512 on 31-12-2025in euro
in euro
Position in the sector
30.6%
Higher than 30% of 39,368 companies in 2025.
1.44
Higher than 38% of 38,051 companies in 2025.
3.7%
Higher than 28% of 38,523 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
30,512 | 53,895 | 138,087 | 135,996 | 67,619 | 86,667 | 97,600 | 67,918 | 70,730 | 54,978 | 66,770 | 34,975 | 32,752 | 54,073 | 44,316 | 42,987 | |
21/28 |
- | 17 | 2,411 | 8,867 | 14,542 | 18,792 | 26,473 | 5,479 | 9,690 | 15,220 | 21,235 | 444 | 4,409 | 8,718 | 12,493 | 16,399 | |
22/27 |
- | 17 | 2,411 | 8,867 | 14,542 | 18,792 | 24,873 | 5,479 | 9,690 | 15,220 | 21,235 | 444 | 4,409 | 8,718 | 12,493 | 16,399 | |
23 |
- | - | - | - | - | - | - | - | 2,350 | 4,700 | 7,050 | 0 | 416 | 941 | 933 | 1,756 | |
24 |
- | 17 | 2,411 | 8,867 | 14,542 | 18,792 | 24,873 | 5,479 | 7,340 | 10,520 | 14,185 | 444 | 3,993 | 7,777 | 11,560 | 14,643 | |
28 |
- | - | - | - | - | - | 1,600 | - | - | - | - | - | - | - | - | - | |
29/58 |
30,512 | 53,878 | 135,676 | 127,129 | 53,077 | 67,875 | 71,128 | 62,439 | 61,040 | 39,758 | 45,536 | 34,531 | 28,343 | 45,355 | 31,823 | 26,588 | |
3 |
- | 2,176 | - | - | - | 300 | 400 | 450 | 750 | 801 | - | - | - | - | 1,525 | 2,427 | |
30/36 |
- | 2,176 | - | - | - | 300 | 400 | 450 | 750 | 801 | - | - | - | - | 1,525 | 2,427 | |
40/41 |
23,336 | 20,076 | 66,370 | 95,564 | 19,274 | 42,822 | 40,387 | 18,335 | 36,121 | 13,769 | 8,196 | 11,283 | 8,715 | 15,392 | 9,876 | 6,206 | |
40 |
22,139 | 17,669 | 10,669 | 41,424 | 19,274 | 40,517 | 36,222 | 14,158 | 28,812 | 13,769 | 7,197 | 11,283 | 8,571 | 15,392 | 9,775 | 6,206 | |
41 |
1,197 | 2,407 | 55,700 | 54,140 | - | 2,305 | 4,165 | 4,178 | 7,309 | - | 999 | - | 144 | - | 101 | - | |
54/58 |
4,700 | 29,721 | 68,940 | 28,537 | 32,455 | 23,593 | 26,629 | 43,654 | 24,169 | 23,514 | 37,340 | 23,248 | 18,473 | 29,758 | 20,222 | 17,783 | |
490/1 |
2,476 | 1,905 | 366 | 3,028 | 1,347 | 1,160 | 3,712 | - | - | 1,673 | - | - | 1,155 | 205 | 200 | 172 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
30,512 | 53,895 | 138,087 | 135,996 | 67,619 | 86,667 | 97,600 | 67,918 | 70,730 | 54,978 | 66,770 | 34,975 | 32,752 | 54,073 | 44,316 | 42,987 | |
10/15 |
9,341 | 8,217 | 5,934 | 6,287 | 7,534 | 12,224 | 21,383 | 10,464 | 4,593 | -13,270 | 4,959 | 13,006 | 14,752 | 17,831 | 17,552 | 8,192 | |
10/11 |
8,060 | 8,060 | 8,060 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 6,860 | 6,860 | 1,860 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
132 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 5,000 | 5,000 | - | |
14 |
1,281 | 157 | -2,126 | -1,773 | -526 | 4,164 | 13,323 | 2,404 | -3,467 | -21,330 | -3,101 | 4,946 | 6,692 | 4,771 | 4,492 | 132 | |
17/49 |
21,172 | 45,678 | 132,153 | 129,709 | 60,085 | 74,443 | 76,218 | 57,454 | 66,137 | 68,248 | 61,811 | 21,969 | 18,000 | 36,242 | 26,764 | 34,795 | |
17 |
- | - | - | 1,687 | 6,717 | 11,702 | 16,641 | - | 4,777 | 6,402 | 10,816 | - | - | 582 | 3,998 | 7,286 | |
170/4 |
- | - | - | 1,687 | 6,717 | 11,702 | 16,641 | - | 1,902 | 6,402 | 10,816 | - | - | 582 | 3,998 | 7,286 | |
178/9 |
- | - | - | - | - | - | - | - | 2,875 | - | - | - | - | - | - | - | |
42/48 |
21,172 | 45,678 | 132,153 | 128,022 | 53,368 | 62,741 | 59,577 | 57,454 | 61,361 | 61,846 | 50,995 | 21,969 | 18,000 | 35,660 | 22,016 | 26,759 | |
42 |
- | - | 1,687 | 5,030 | 4,985 | 4,939 | 4,894 | 1,902 | 4,501 | 4,413 | 4,327 | - | 582 | 3,416 | 3,288 | 3,166 | |
43 |
- | - | - | - | - | - | - | - | - | 709 | - | - | - | - | - | - | |
439 |
- | - | - | - | - | - | - | - | - | 709 | - | - | - | - | - | - | |
44 |
1,737 | 3,998 | 28,615 | 26,084 | 5,065 | 7,823 | 8,718 | 8,889 | 8,227 | - | 2,590 | 2,732 | 3,748 | 6,851 | 6,572 | 9,095 | |
440/4 |
1,737 | 3,998 | 28,615 | 26,084 | 5,065 | 7,823 | 8,718 | 8,889 | 8,227 | - | 2,590 | 2,732 | 3,748 | 6,851 | 6,572 | 9,095 | |
45 |
4,239 | 3,086 | 2,939 | 7,938 | 2,330 | 3,688 | 20,978 | 10,751 | 1,842 | 4,293 | 537 | 3,303 | 3,671 | 1,674 | 6,613 | 7,851 | |
450/3 |
4,239 | 3,086 | 2,939 | 7,938 | 2,330 | 3,655 | 8,589 | 3,234 | 1,842 | 2,006 | 537 | 3,303 | 3,671 | 1,674 | 6,613 | 7,851 | |
454/9 |
- | - | - | - | - | 34 | 12,388 | 7,517 | - | 2,286 | - | - | - | - | - | - | |
47/48 |
15,196 | 38,593 | 98,912 | 88,970 | 40,988 | 46,291 | 24,987 | 35,913 | 46,791 | 52,431 | 43,541 | 15,935 | 10,000 | 23,720 | 5,542 | 6,647 | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 750 | 750 | |
| Income statement | |||||||||||||||||
9900 |
6,645 | 6,017 | 12,443 | 6,492 | 2,864 | 2,321 | 25,470 | 14,971 | 26,629 | -11,214 | 2,972 | 3,319 | 13,570 | 27,398 | 18,651 | 14,011 | |
62 |
- | - | - | - | 16 | 4,149 | 874 | - | - | - | - | - | - | - | - | - | |
630 |
17 | 2,394 | 6,456 | 6,439 | 6,429 | 6,081 | 7,981 | 6,028 | 6,257 | 6,015 | 6,458 | 3,965 | 4,309 | 5,021 | 4,606 | 3,819 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | 467 | - | - | 587 | - | |
640/8 |
3,319 | 405 | 1,712 | 697 | 646 | 621 | 576 | 585 | 563 | 526 | 3,352 | 398 | 508 | 675 | 337 | 387 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 48 | - | - | |
9901 |
3,309 | 3,218 | 4,275 | -644 | -4,227 | -8,529 | 16,040 | 8,357 | 19,808 | -17,755 | -6,839 | -1,510 | 8,754 | 21,701 | 13,120 | 9,805 | |
75/76B |
5 | 4 | 71 | - | 107 | 5 | 3 | 330 | - | - | 12 | 13 | 43 | 38 | 35 | 1 | |
75 |
5 | 4 | 71 | - | 107 | 5 | 3 | 330 | - | - | 12 | 13 | 43 | 38 | 35 | 1 | |
65/66B |
437 | 407 | 4,492 | 383 | 355 | 440 | 921 | 284 | 255 | 421 | 390 | 248 | 556 | 422 | 458 | 431 | |
65 |
437 | 407 | 4,492 | 383 | 355 | 440 | 921 | 284 | 255 | 421 | 390 | 248 | 556 | 422 | 458 | 431 | |
9903 |
2,877 | 2,815 | -146 | -1,027 | -4,475 | -8,964 | 15,122 | 8,403 | 19,553 | -18,176 | -7,217 | -1,745 | 8,241 | 21,269 | 12,697 | 9,375 | |
67/77 |
1,753 | 532 | 207 | 220 | 215 | 195 | 4,203 | 2,532 | 1,691 | 54 | 24 | - | 1,320 | 990 | 2,532 | 3,883 | |
9904 |
1,124 | 2,283 | -353 | -1,247 | -4,690 | -9,159 | 10,919 | 5,871 | 17,863 | -18,229 | -7,241 | -1,745 | 6,921 | 20,279 | 10,166 | 5,492 | |
789 |
- | - | - | - | - | - | - | - | - | - | - | - | 5,000 | - | - | - | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 5,000 | - | |
9905 |
1,124 | 2,283 | -353 | -1,247 | -4,690 | -9,159 | 10,919 | 5,871 | 17,863 | -18,229 | -7,241 | -1,745 | 11,921 | 20,279 | 5,166 | 5,492 | |
| Appropriation of the result | |||||||||||||||||
9906 |
1,281 | 157 | -2,126 | -1,773 | -526 | 4,164 | 13,323 | 2,404 | -3,467 | -21,330 | -2,295 | 4,946 | 16,692 | 24,771 | 5,298 | 5,492 | |
14P |
157 | -2,126 | -1,773 | -526 | 4,164 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
- | - | - | - | - | - | - | - | - | - | 806 | - | 10,000 | 20,000 | 806 | 3,500 | |
694 |
- | - | - | - | - | - | - | - | - | - | 806 | - | - | - | 806 | 3,500 | |
695 |
- | - | - | - | - | - | - | - | - | - | - | - | 10,000 | 20,000 | - | - | |
| Social balance sheet | |||||||||||||||||
9087 |
- | - | - | - | - | 0.7 | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
- | - | 0 | - | - | 929 | - | - | - | - | - | - | - | - | - | - | |
| 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 25-06-2026.
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 | 25-06-2026 | 2026-00228922 | |
| 31-12-2024 | micro format | 13-08-2025 | 2025-00376131 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00443973 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00409309 | |
| 31-12-2021 | micro format | 10-08-2022 | 2022-20286895 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-47900083 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-44900406 | |
| 31-12-2018 | micro format | 06-08-2019 | 2019-44200315 | |
| 31-12-2017 | micro format | 05-07-2018 | 2018-30000363 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-38800330 | |
| 31-12-2015 | full format | 17-06-2016 | 2016-19100377 | |
| 31-12-2014 | full format | 28-05-2015 | 2015-13500067 | |
| 31-12-2013 | full format | 03-07-2014 | 2014-27100026 | |
| 31-12-2012 | full format | 03-06-2013 | 2013-15400477 | |
| 31-12-2011 | full format | 10-05-2012 | 2012-11300346 | |
| 31-12-2010 | full format | 06-06-2011 | 2011-14600142 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,326 | 5,612 | 10,731 | 5,795 | 2,202 | -2,449 | 24,020 | 14,385 | 26,065 | -11,740 | -381 | 2,455 | 13,063 | 26,723 | 17,726 | 13,624 | ||
| 1,141 | 4,677 | 6,103 | 5,192 | 1,740 | -3,078 | 18,899 | 11,899 | 24,119 | -12,215 | -783 | 2,220 | 11,229 | 25,300 | 14,772 | 9,311 | ||
| 0 | 0 | 0 | 764 | 2,179 | -1,600 | 28,974 | 1,817 | 726 | 0 | 27,249 | 0 | 0 | 1,246 | 701 | 20,218 | ||
| -25,021 | -39,220 | 40,403 | -3,918 | 8,862 | -3,036 | -17,026 | 19,486 | 654 | -13,825 | 14,091 | 4,775 | -11,285 | 9,536 | 2,439 | - | ||
| 9,341 | 8,200 | 3,523 | -892 | -291 | 5,133 | 11,551 | 4,985 | -321 | -22,087 | -5,460 | 12,562 | 10,343 | 9,695 | 9,807 | -171 | ||
| 30.6% | 15.2% | 4.3% | 4.6% | 11.1% | 14.1% | 21.9% | 15.4% | 6.5% | -24.1% | 7.4% | 37.2% | 45.0% | 33.0% | 39.6% | 19.1% | ||
| 1.44 | 1.18 | 1.03 | 0.99 | 0.99 | 1.08 | 1.19 | 1.09 | 0.99 | 0.64 | 0.89 | 1.57 | 1.57 | 1.27 | 1.45 | 0.99 | ||
| 1.44 | 1.13 | 1.03 | 0.99 | 0.99 | 1.08 | 1.19 | 1.08 | 0.98 | 0.63 | 0.89 | 1.57 | 1.57 | 1.27 | 1.38 | 0.90 | ||
| 2.27 | 5.56 | 22.27 | 20.63 | 7.98 | 6.09 | 3.56 | 5.49 | 14.40 | - | 12.46 | 1.69 | 1.22 | 2.03 | 1.52 | 4.25 | ||
| 12.0% | 27.8% | -5.9% | -19.8% | -62.2% | -74.9% | 51.1% | 56.1% | 388.9% | - | -146.0% | -13.4% | 46.9% | 113.7% | 57.9% | 67.0% | ||
| 3.7% | 4.2% | -0.3% | -0.9% | -6.9% | -10.6% | 11.2% | 8.6% | 25.3% | -33.2% | -10.8% | -5.0% | 21.1% | 37.5% | 22.9% | 12.8% | ||
| 7.61 | 13.79 | 2.39 | 15.15 | 6.21 | - | - | - | - | - | - | - | - | - | - | - |
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.
Social balance sheet
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2023 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €764 | €2,179 |
| €17 | €2,394 | €6,456 | €6,439 | €6,429 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on START SMART
The operating result for 2025 is 3% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 84.8% to 69.4%. Equity is higher and debt is lower.