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Private limited companyfounded 2004active for 22 yearsCatharinadreef 45, 2970 Schilde, BelgiumKBO/BCE: BE 0866.701.136

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 08-05-2026 PDF all 6 filings

Equity
€1.3m▼ 66.0%
2024 · €3.7m
Net result
€1.5m▲ 31.2%
2024 · €1.2m
Total assets
€3.7m▼ 15.7%
2024 · €4.3m
Solvency
34.4%▼ 50.7pp
2024 · 85.1%
Trend over the years

2021 to 2025, 5 financial years 2020 to 2025, 6 financial years

The operating result for 2025 is 24% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.

Operating result€2.0m 2025 Net result€1.5m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line202020212022202320242025
Operating result€0.4m-€0.4m▲ 9.2%€1.4m▲ 225%€1.2m▼ 15.2%€1.6m▲ 41.0%€2.0m▲ 24.2%
Net result€0.07mwithin the sector's middle half-€0.3mabove the sector's middle half▲ 335%€1.0mabove the sector's middle half▲ 245%€0.9mabove the sector's middle half▼ 14.2%€1.2mabove the sector's middle half▲ 33.5%€1.5mabove the sector's middle half▲ 31.2%
Equity€0.3mwithin the sector's middle half-€0.6mwithin the sector's middle half▲ 91.4%€1.6mwithin the sector's middle half▲ 164%€2.5mabove the sector's middle half▲ 53.6%€3.7mabove the sector's middle half▲ 46.6%€1.3mwithin the sector's middle half▼ 66.0%
Total assets€0.8mwithin the sector's middle half-€1.4mwithin the sector's middle half▲ 60.7%€2.4mwithin the sector's middle half▲ 77.0%€3.3mwithin the sector's middle half▲ 37.6%€4.3mwithin the sector's middle half▲ 30.4%€3.7mwithin the sector's middle half▼ 15.7%
Debt€0.5m-€0.7m▲ 41.8%€0.8m▲ 4.7%€0.8m▲ 3.9%€0.6m▼ 20.2%€2.4m▲ 272%
Working capital€0.2mwithin the sector's middle half-€0.5mabove the sector's middle half▲ 104%€1.3mabove the sector's middle half▲ 163%€2.5mabove the sector's middle half▲ 97.9%€3.6mabove the sector's middle half▲ 43.6%€1.2mabove the sector's middle half▼ 65.9%
Solvency38.2%within the sector's middle half-45.5%within the sector's middle half▲ 7.3pp67.8%within the sector's middle half▲ 22.3pp75.7%within the sector's middle half▲ 7.9pp85.1%above the sector's middle half▲ 9.4pp34.4%within the sector's middle half▼ 50.7pp
Current ratio2.04within the sector's middle half-2.03within the sector's middle half▼ 0.013.00within the sector's middle half▲ 0.967.70above the sector's middle half▲ 4.709.31above the sector's middle half▲ 1.621.63within the sector's middle half▼ 7.68
Return on assets (ROA)8.0%within the sector's middle half-21.7%above the sector's middle half▲ 13.7pp42.4%above the sector's middle half▲ 20.6pp26.4%above the sector's middle half▼ 15.9pp27.1%above the sector's middle half▲ 0.6pp42.1%above the sector's middle half▲ 15.0pp
Staff (FTE)0.3within the sector's middle half1within the sector's middle half▲ 233%
above within below The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Large changes and their cause
  • 2025 Equity -66% on 2024. Partial demerger to ADWORK, effective 01-01-2025. Capital reduction of €2,369,094 (Official Gazette 18-08-2025).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.7m
Fixed assets €479,323 ▲ 54.6%
Current assets €3.2m ▼ 21.1%
Equity and liabilities €3.7m
Equity €1.3m ▼ 66.0%
Debt €2.4m ▲ 272%
Debt's share of the balance-sheet total rises from 14.9% to 65.6%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
ROE
122.5%▲
2024 · 31.8%
Debt ≤ 1 year
€2.0m▲
2024 · €431,998
Income taxes
€544,300▲
2024 · €492,464
Staff costs
€51,121▲
2024 · €12,989
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-2024
Employees at the balance-sheet date1
full-time1
in full-time equivalents1
Average over the year, in full-time equivalents0.3
On a permanent contract1
Joined1
Left0

Source: social balance sheet in the 2024 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€51,811€163,409€19,639€168,240€275,337
Financial fixed assets€14,450----
Depreciation and write-downs of the year€33,247€56,751€74,616€74,700€105,466

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.3m€3.7m▼
Fixed assets21/28€0.3m€0.5m▲
Tangible fixed assets22/27€0.3m€0.5m▲
Plant, machinery and equipment23€0.06m€0.3m▲
Furniture and vehicles24€0.2m€0.1m▼
Other tangible fixed assets26€0.07m€0.05m▼
Financial fixed assets28€0.009m€0.009m=
Current assets29/58€4.0m€3.2m▼
Amounts receivable after more than one year29€0.7m-
Other amounts receivable291€0.7m-
Amounts receivable within one year40/41€0.6m€0.7m▲
Trade receivables40€0.5m€0.7m▲
Other amounts receivable41€0.06m€326▼
Current investments50/53€1.7m€1.6m▼
Cash at bank and in hand54/58€1.0m€0.8m▼
Deferred charges and accrued income490/1€0.05m€0.04m▼
Equity and liabilities
Total equity and liabilities10/49€4.3m€3.7m▼
Equity10/15€3.7m€1.3m▼
Contributions10/11€0.003m€0.001m▼
Reserves13€3.7m€1.3m▼
Tax-exempt reserves132€0.6m€0.2m▼
Distributable reserves133€3.1m€1.1m▼
Amounts payable17/49€0.6m€2.4m▲
Amounts payable within one year42/48€0.4m€2.0m▲
Trade debts44€0.3m€0.2m▼
Suppliers440/4€0.3m€0.2m▼
Taxes, remuneration and social security45€0.03m€0.2m▲
Taxes450/3€0.03m€0.2m▲
Remuneration and social security454/9-€0.01m
Other amounts payable47/48€0.1m€1.6m▲
Accrued charges and deferred income492/3€0.2m€0.4m▲
Income statement Code20242025
Remuneration, social security and pensions62€0.01m€0.05m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.07m€0.1m▲
Other operating charges640/8€0.02m€0.009m▼
Non-recurring operating charges66A-€0.02m
Gross operating margin9900€1.8m€2.2m▲
Operating profit (loss)9901€1.6m€2.0m▲
Financial income75/76B€0.06m€0.05m▼
Recurring financial income75€0.06m€0.05m▼
Financial charges65/66B€0.04m€0.01m▼
Recurring financial charges65€0.04m€0.01m▼
Profit (loss) for the period before taxes9903€1.7m€2.1m▲
Income taxes67/77€0.5m€0.5m▲
Profit (loss) for the period9904€1.2m€1.5m▲
Transfer to tax-exempt reserves689€0.5m-
Profit (loss) for the period to be appropriated9905€0.7m€1.5m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.7m€1.5m▲
Transfer from equity791/2-€0.06m
Transfer to equity691/2€0.7m-
To other reserves6921€0.7m-
Profit to be distributed694/7-€1.6m
Return on contributions (dividend)694-€1.6m
Social balance sheet
Average headcount (FTE)90870.31.0▲

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 08-05-2026.

Line202020212022202320242025Change
Non-recurring operating income76A--€0.003m----
Remuneration, social security and pensions62--€0.005m-€0.01m€0.05m▲ 294%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.04m€0.03m€0.06m€0.07m€0.07m€0.1m▲ 41.2%
Other operating charges640/8-€0.02m€0.04m€0.005m€0.02m€0.009m▼ 63.9%
Non-recurring operating charges66A-----€0.02m-
Gross operating margin9900€0.6m€0.5m€1.5m€1.2m€1.8m€2.2m▲ 26.8%
Operating profit (loss)9901€0.4m€0.4m€1.4m€1.2m€1.6m€2.0m▲ 24.2%
Financial income75/76B--€0.01m€0.03m€0.06m€0.05m▼ 18.2%
Recurring financial income75€0.001m-€0.01m€0.03m€0.06m€0.05m▼ 18.2%
Financial charges65/66B-€0.01m€0.01m€0.009m€0.04m€0.01m▼ 75.2%
Recurring financial charges65€0.02m€0.01m€0.01m€0.009m€0.04m€0.01m▼ 75.2%
Non-recurring financial charges66B---€187---
Profit (loss) for the period before taxes9903€0.1m€0.4m€1.4m€1.2m€1.7m€2.1m▲ 25.1%
Income taxes67/77€0.08m€0.1m€0.4m€0.3m€0.5m€0.5m▲ 10.5%
Profit (loss) for the period9904€0.07m€0.3m€1.0m€0.9m€1.2m€1.5m▲ 31.2%
Transfer to tax-exempt reserves689----€0.5m--
Profit (loss) for the period to be appropriated9905€0.07m€0.3m€1.0m€0.9m€0.7m€1.5m▲ 135%
Line202020212022202320242025Change
Assets
Total assets20/58€0.8m€1.4m€2.4m€3.3m€4.3m€3.7m▼ 15.7%
Fixed assets21/28€0.4m€0.4m€0.5m€0.5m€0.3m€0.5m▲ 54.6%
Tangible fixed assets22/27€0.4m€0.4m€0.5m€0.4m€0.3m€0.5m▲ 56.1%
Land and buildings22-€0.3m€0.2m€0.2m---
Plant, machinery and equipment23-€0.05m€0.1m€0.09m€0.06m€0.3m▲ 370%
Furniture and vehicles24-€0.04m€0.08m€0.06m€0.2m€0.1m▼ 27.4%
Other tangible fixed assets26--€0.1m€0.08m€0.07m€0.05m▼ 22.4%
Financial fixed assets28€250€0.01m€0.009m€0.009m€0.009m€0.009m=
Current assets29/58€0.5m€0.9m€1.9m€2.9m€4.0m€3.2m▼ 21.1%
Amounts receivable after more than one year29--€0.3m€0.4m€0.7m--
Other amounts receivable291--€0.3m€0.4m€0.7m--
Amounts receivable within one year40/41€0.03m€0.4m€0.4m€0.6m€0.6m€0.7m▲ 31.3%
Trade receivables40-€0.4m€0.2m€0.5m€0.5m€0.7m▲ 48.5%
Other amounts receivable41-€41€0.2m€0.1m€0.06m€326▼ 99.5%
Current investments50/53--€0.1m€1.4m€1.7m€1.6m▼ 6.8%
Cash at bank and in hand54/58€0.3m€0.4m€1.1m€0.2m€1.0m€0.8m▼ 22.2%
Deferred charges and accrued income490/1-€0.09m€0.08m€0.2m€0.05m€0.04m▼ 34.0%
Equity and liabilities
Total equity and liabilities10/49€0.8m€1.4m€2.4m€3.3m€4.3m€3.7m▼ 15.7%
Equity10/15€0.3m€0.6m€1.6m€2.5m€3.7m€1.3m▼ 66.0%
Contributions10/11-€0.003m€0.003m€0.003m€0.003m€0.001m▼ 64.3%
Reserves13€0.3m€0.6m€1.6m€2.5m€3.7m€1.3m▼ 66.0%
Non-distributable reserves130/1-€300-----
Reserves not available under the articles1311-€300-----
Tax-exempt reserves132--€0.04m€0.04m€0.6m€0.2m▼ 64.3%
Distributable reserves133-€0.6m€1.6m€2.5m€3.1m€1.1m▼ 66.3%
Amounts payable17/49€0.5m€0.7m€0.8m€0.8m€0.6m€2.4m▲ 272%
Amounts payable after more than one year17€0.2m€0.2m€0.1m€0.1m---
Financial debts170/4-€0.2m€0.1m€0.1m---
Amounts payable within one year42/48€0.2m€0.5m€0.6m€0.4m€0.4m€2.0m▲ 352%
Current portion of amounts payable after more than one year42-€0.02m€0.02m€0.02m---
Trade debts44€0.1m€0.3m€0.6m€0.3m€0.3m€0.2m▼ 32.8%
Suppliers440/4-€0.3m€0.6m€0.3m€0.3m€0.2m▼ 32.8%
Taxes, remuneration and social security45-€0.1m€0.02m€0.03m€0.03m€0.2m▲ 495%
Taxes450/3-€0.1m€0.02m€0.03m€0.03m€0.2m▲ 459%
Remuneration and social security454/9-----€0.01m-
Other amounts payable47/48-€0.006m€0.009m€0.02m€0.1m€1.6m▲ 12×
Accrued charges and deferred income492/3-€0.1m-€0.3m€0.2m€0.4m▲ 109%
Line202020212022202320242025Change
Profit (loss) for the period9904€0.07m€0.3m€1.0m€0.9m€1.2m€1.5m▲ 31.2%
+ Depreciation and write-downs630€0.04m€0.03m€0.06m€0.07m€0.07m€0.1m▲ 41.2%
Operating cash flow (approximation)€0.1m€0.3m€1.1m€1.0m€1.2m€1.6m▲ 31.8%
Investment in fixed assets (approximation)--€0.07m-€0.2m-€0.006m€0.07m-€0.3m-
Change in cash-€0.1m€0.6m-€0.9m€0.9m-€0.2m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Filings with the National Bank (6)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 08-05-2026 2026-00106303 PDF
31-12-2024 abbreviated format 18-06-2025 2025-00149595 PDF
31-12-2023 abbreviated format 10-07-2024 2024-00235470 PDF
31-12-2022 abbreviated format 31-05-2023 2023-00100759 PDF
31-12-2021 abbreviated format 01-07-2022 2022-20137108 PDF
31-12-2020 abbreviated format 30-08-2021 2021-61700577 PDF

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